Two-Unit Duplex with Separate
New
For Sale
$550,000
1118 Jefferson St, Savannah, GA 31401
Two-bedroom residences include individual living areas and full bathrooms.
Property Size1,722 SF
Price / SF$319.40
Days on Market3
Property Features for 1118 Jefferson St
General Information
Standard status
Active
Size
1,722 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
excellent potential for updating and improvements
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Reggie Mitchell Realty
Listed By:
Reginald R. Mitchell · License #167473
(912) 658-0201
Source:
Bradberrygarnerrealestate
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 6 at 12:14PM
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 Reggie Mitchell Realty
Investment Insights
Based on property information with market context.
Located at 1118 Jefferson Street in Savannah, this duplex contains two separate residential units, each with approximately 800 square feet. Both sides include a living area, kitchen, two bedrooms, and one full bathroom, providing a consistent layout across the property. Combined interior area is approximately 1,600 square feet.
Built in 1900, the property is functional in its current condition and presents an opportunity for updating. Its Savannah location provides access to downtown, shopping, dining, employment centers, and major thoroughfares. The property can accommodate an owner-occupant arrangement, renovation of both units, or inclusion in an existing rental portfolio, as supported by the two-unit configuration.
Built in 1900, the property is functional in its current condition and presents an opportunity for updating. Its Savannah location provides access to downtown, shopping, dining, employment centers, and major thoroughfares. The property can accommodate an owner-occupant arrangement, renovation of both units, or inclusion in an existing rental portfolio, as supported by the two-unit configuration.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 full bathroom
- Approximately 800 SF per unit and approximately 1,600 SF combined
- Each unit includes a living area, kitchen, two bedrooms, and full bath
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
$18,258
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
3.32%
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%
$365,160
$365.2K
Cap Rate 7%
$260,829
$260.8K
Cap Rate 9%
$202,867
$202.9K
Market Conditions
NOI Build-Up for 1,722 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
$27.9K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$26.1K $15.15/SF
− OpEx
−$7.8K −$4.54/SF
NOI
$18.3K $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%
$365,160
Cap Rate 7%
$260,829
Cap Rate 9%
$202,867
Alternative Uses
Best Use
Multifamily LT 5
$260.8K
$228.2K – $304.3K
NOI $18,258 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$241.9K
$211.7K – $282.2K
NOI $16,932 @ 7.0% cap · market cap 3.08%
Theoretical Best
Warehouse
$1.61M
$1.41M – $1.88M
NOI $112,652 @ 7.0% cap · market cap 20.48%
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
1,727
Businesses Nearby
Explore this area
Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
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 residences include individual living areas and full bathrooms.
Where is this duplex located?
The property is located at 1118 Jefferson St Savannah, GA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 full bathroom; Approximately 800 SF per unit and approximately 1,600 SF combined; Each unit includes a living area, kitchen, two bedrooms, and full bath
