Duplex with Fenced
For Sale
$400,000
1111 E 35 St, Savannah, GA 31404
Two-bedroom, one-bath residences include sunrooms, off-street parking, and separate fenced outdoor areas.
Property Size2,756 SF
Price / SF$145.14
Days on Market38
Property Features for 1111 E 35 St
General Information
Standard status
Active
Size
2,756 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Listing Agency:
Savannah Home Realty
(912) 655-3844
Listed By:
David W. Wessel · License #293276
Source:
Patrickrealestate
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 29 at 11:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Savannah Home Realty
Investment Insights
Based on property information with market context.
Built in 1925, this 2,756-square-foot duplex contains two residences, each with two bedrooms, one bathroom, a living room, and a sunroom. Original hardwood flooring, high ceilings, and fireplaces in both living rooms add period detail. The upper residence also includes a walk-out front balcony, while the property is protected by a metal roof.
Each unit has a fenced rear yard, and the property provides substantial off-street parking. The upper unit is leased, while the lower unit is vacant. The property is located near the Waters Avenue corridor, with a bookstore, café, and restaurants within walking distance.
Each unit has a fenced rear yard, and the property provides substantial off-street parking. The upper unit is leased, while the lower unit is vacant. The property is located near the Waters Avenue corridor, with a bookstore, café, and restaurants within walking distance.
Key Highlights
- Two‑unit duplex totaling 2,756 SF
- Two‑bedroom, one‑bath layout in each residence
- Original hardwood floors, high ceilings, and living room fireplaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,222
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$584,440
$584.4K
Cap Rate 7%
$417,457
$417.5K
Cap Rate 9%
$324,689
$324.7K
Market Conditions
NOI Build-Up for 2,756 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.6K $16.20/SF
− Vacancy
−$2.9K −$1.05/SF
EGI
$41.7K $15.15/SF
− OpEx
−$12.5K −$4.54/SF
NOI
$29.2K $10.60/SF
Area
Savannah, GA
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$584,440
Cap Rate 7%
$417,457
Cap Rate 9%
$324,689
Alternative Uses
Best Use
Multifamily LT 5
$417.5K
$365.3K – $487.0K
NOI $29,222 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$387.1K
$338.7K – $451.7K
NOI $27,099 @ 7.0% cap · market cap 6.77%
Theoretical Best
Warehouse
$2.58M
$2.25M – $3.00M
NOI $180,296 @ 7.0% cap · market cap 45.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 31404, GA
31,530
Population
14,427
Households
2.2
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$49,805
Median Household Income
$31,620
Median Earnings
$1,199
Median Rent
$193,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom, one-bath residences include sunrooms, off-street parking, and separate fenced outdoor areas.
Where is this duplex located?
The property is located at 1111 E 35 St Savannah, GA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,756 SF; Two‑bedroom, one‑bath layout in each residence; Original hardwood floors, high ceilings, and living room fireplaces
