Updated Duplex with Central
For Sale
$290,000
Pending
1113-1115 E 55th Street, Savannah, GA 31404
Residential Income, Savannah, GA
Property Size1,611 SF
Lot Size0.25 Acres
Days on Market182
Property Features for 1113-1115 E 55th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RTF
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4
Parking features
On Street
Appliances
Electric Water Heater
Lot features
Alley, City Lot
Directions
Head east on Victory Drive. Turn right onto Waters Avenue, then left onto 55th Street. The property will be on your right.
Standard status
Pending
APN
20097 21004
Size
1,611 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Description
see supplements
Legal Description
see supplements
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1943
Floors in Building
1
Number of units
2
Building materials
Stucco
Listing Agency:
RIVR RE LLC
(912) 307-9998
Listed By:
Mandy Henderson · License #416722
(970) 778-5616
Added: Feb 22
Changed: Aug 19
Last Checked: Aug 23 at 7:06PM
MLS# SA349675
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Savannah duplex contains 1,611 square feet on a 0.25-acre parcel and was built in 1943. Improvements include updated HVAC, new wiring, ceiling insulation, and recessed lighting. The stucco property has central air, electric heating, an electric water heater, and public water and sewer service.
One unit is leased month-to-month, while the second unit offers flexibility for occupancy or future leasing. The property is zoned RTF and includes on-street parking. Its location at 1113-1115 E 55th Street places it just off Waters Avenue and Victory Drive in Savannah’s 31404 postal area.
One unit is leased month-to-month, while the second unit offers flexibility for occupancy or future leasing. The property is zoned RTF and includes on-street parking. Its location at 1113-1115 E 55th Street places it just off Waters Avenue and Victory Drive in Savannah’s 31404 postal area.
Key Highlights
- 1,611 SF duplex on a 0.25‑acre parcel
- One unit currently rented month‑to‑month
- Updated HVAC, new wiring, ceiling insulation, and recessed lighting
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
Property Profile
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 - Two-unit residential property with recent mechanical and electrical improvements, public utilities, and on-street parking.
Where is this duplex located?
The property is located at 1113-1115 E 55th Street 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: 1,611 SF duplex on a 0.25‑acre parcel; One unit currently rented month‑to‑month; Updated HVAC, new wiring, ceiling insulation, and recessed lighting
