Two-Unit Duplex
New
For Sale
$550,000
1118 Jefferson Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size1,722 SF
Lot Size0.04 Acres
Price / SF$319.40
Days on Market2
Property Features for 1118 Jefferson Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RIP
Bedrooms
4
Bathrooms
2
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 1
Appliances
Electric Water Heater
Lot features
City Lot, Interior Lot
Directions
From Downtown Savannah take Liberty Street to Jefferson. Jefferson South to 1118 Jefferson
Standard status
Active
APN
2005216012
Size
1,722 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
NORTH 26 FEET OF THE SOUTH ONE HALF OF LOT 9 GUE WARD
Tax Annual Amount
4993
Legal Description
NORTH 26 FEET OF THE SOUTH ONE HALF OF LOT 9 GUE WARD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
1
Flooring type
Hardwood
Building materials
Wood Siding
Listing Agency:
Reggie Mitchell Realty
(912) 658-0201
Listed By:
Reginald R. Mitchell · License #167473
(912) 349-6494
Added: Sep 1
Last Checked: Sep 2 at 1:06PM
MLS# SA363694
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 two separate two-bedroom, one-bath units, with each side offering a living area, kitchen, bedrooms, and a full bathroom. Each unit measures approximately 800 square feet, while the property size is listed at 1,722 square feet. The building dates to 1900 and features wood siding, hardwood flooring, central air, and electric heating. Public water and public sewer serve the property, and each unit includes an electric water heater.
Located at 1118 Jefferson Street in Savannah, the property is positioned within the 31401 postal area and offers access to downtown, shopping, dining, employment centers, and major thoroughfares. The R|||| RIP zoning designation is also included in the property information.
The duplex is described as functional in its current condition, with updating and improvement potential. Its two-unit configuration accommodates a range of ownership and rental strategies, including occupying one side while leasing the other or operating both units as an income property.
Located at 1118 Jefferson Street in Savannah, the property is positioned within the 31401 postal area and offers access to downtown, shopping, dining, employment centers, and major thoroughfares. The R|||| RIP zoning designation is also included in the property information.
The duplex is described as functional in its current condition, with updating and improvement potential. Its two-unit configuration accommodates a range of ownership and rental strategies, including occupying one side while leasing the other or operating both units as an income property.
Key Highlights
- Two 2‑bedroom, 1‑bath units, each approximately 800 square feet
- 1,722‑square‑foot property built in 1900
- RIP zoning designation
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 units with separate kitchens, living areas, and full bathrooms support flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 1118 Jefferson Street 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 2‑bedroom, 1‑bath units, each approximately 800 square feet; 1,722‑square‑foot property built in 1900; RIP zoning designation
