Updated Two-Unit
For Sale
$290,000
1113-1115 E 55th St, Savannah, GA 31404
A two-unit residential property with upgraded mechanical and electrical components and one month-to-month tenancy.
Property Size1,611 SF
Price / SF$180.01
Days on Market203
Property Features for 1113-1115 E 55th St
General Information
Standard status
Active
Size
1,611 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1943
Buildings
1
Listing Agency:
RIVR RE LLC
Listed By:
Mandy Henderson · License #416722
(970) 778-5616
Source:
Searchgreateraugustahomes
Added: Feb 16
Changed: Sep 5
Last Checked: Sep 7 at 10:10AM
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 RIVR RE LLC
Investment Insights
Based on property information with market context.
This 1611-square-foot duplex contains two residential units and was built in 1943. Recent improvements include updated HVAC, new wiring, new ceiling insulation, and recessed lighting. The property is positioned just off Waters Avenue and Victory Drive in Savannah.
One unit is occupied under a month-to-month rental arrangement, while the second unit provides additional flexibility for future occupancy planning. The existing tenancy structure and completed system updates provide clear operational facts for evaluating the property.
One unit is occupied under a month-to-month rental arrangement, while the second unit provides additional flexibility for future occupancy planning. The existing tenancy structure and completed system updates provide clear operational facts for evaluating the property.
Key Highlights
- Two‑unit duplex with 1611 square feet
- Built in 1943
- Updated HVAC system
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
$17,081
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
5.89%
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%
$341,620
$341.6K
Cap Rate 7%
$244,014
$244.0K
Cap Rate 9%
$189,789
$189.8K
Market Conditions
NOI Build-Up for 1,611 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
$26.1K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$24.4K $15.15/SF
− OpEx
−$7.3K −$4.54/SF
NOI
$17.1K $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%
$341,620
Cap Rate 7%
$244,014
Cap Rate 9%
$189,789
Alternative Uses
Best Use
Multifamily LT 5
$244.0K
$213.5K – $284.7K
NOI $17,081 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$226.3K
$198.0K – $264.0K
NOI $15,841 @ 7.0% cap · market cap 5.46%
Theoretical Best
Warehouse
$1.51M
$1.32M – $1.76M
NOI $105,391 @ 7.0% cap · market cap 36.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,033
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 - A two-unit residential property with upgraded mechanical and electrical components and one month-to-month tenancy.
Where is this duplex located?
The property is located at 1113-1115 E 55th St Savannah, GA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑unit duplex with 1611 square feet; Built in 1943; Updated HVAC system
