Brick Duplex with Studio Carriage
1116 E 51st Street, Savannah, GA 31404
For Sale
New
$474,900
Residential Income, Savannah, GA
Property Size1,513 SF
Lot Size0.14 Acres
Price / SF$313.88
Days on Market1
Property Features for 1116 E 51st Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking features
Patio and Porch features
Interior features
Fencing
Fireplace
Appliances
Subdivision
Lot features
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
masonry fireplace
fenced backyard
side porch
original hardwood floors
additional storage
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
Keller Williams Coastal Area P · Keller Williams Realty
(912) 356-5001
Listed By:
Mary H. Smith · License GA #287098
(912) 596-2814
Added: Nov 12
Last Checked: Nov 12 at 2:06PM
MLS# SA368041
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.
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Investment Insights
Based on property information with market context.
Built in 1945, this brick duplex pairs a bungalow-style main residence with a studio carriage house. The main home has 1,513 square feet, original hardwood flooring, a fireplace, a dining room, a side porch, and attached storage. The studio measures 300 square feet. The property also includes a fenced backyard and off-street parking.
The 0.1446-acre site is in Savannah, a few blocks from Daffin Park. The property is zoned R6.
The 0.1446-acre site is in Savannah, a few blocks from Daffin Park. The property is zoned R6.
Key Highlights
- 300‑square‑foot studio carriage house
- 1,513‑square‑foot main residence
- 0.1446‑acre site zoned R6
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,042
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$320,840
$320.8K
Cap Rate 7%
$229,171
$229.2K
Cap Rate 9%
$178,244
$178.2K
Market Conditions
NOI Build-Up for 1,513 SF
Gross rent
$24.5K $16.20/SF
− Vacancy
−$1.6K −$1.05/SF
EGI
$22.9K $15.15/SF
− OpEx
−$6.9K −$4.54/SF
NOI
$16.0K $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 Rate 5%
$320,840
Cap Rate 7%
$229,171
Cap Rate 9%
$178,244
Alternative Uses
Best Use
Multifamily LT 5
$229.2K
$200.5K – $267.4K
NOI $16,042 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$212.5K
$186.0K – $248.0K
NOI $14,877 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$408.5K
$357.5K – $476.6K
NOI $28,596 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
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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
$193,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Savannah, GA
Properties on Market for Duplexes in Savannah
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The property combines a bungalow-style main residence with a separate 300-square-foot studio.
Where is this duplex located?
The property is located at 1116 E 51st Street Savannah, GA.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: 300‑square‑foot studio carriage house; 1,513‑square‑foot main residence; 0.1446‑acre site zoned R6
