Renovated Two-Unit
114 W 55th Street, Savannah, GA 31405
For Sale
New
$399,000
Residential Income, Savannah, GA
Property Size1,748 SF
Lot Size0.27 Acres
Price / SF$228.26
Days on Market1
Property Features for 114 W 55th Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Interior features
Appliances
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
private fenced backyard
front patio
Building Details
Year built
Floors in Building
Number of units
Building materials
Buildings
Listing Agency:
Engel & Volkers
(912) 238-0874
Listed By:
Anna Grace Lowenthal · License GA #425445
(770) 695-4886
Added: Nov 12
Last Checked: Nov 12 at 2:06PM
MLS# SA367629
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.
This renovated brick duplex contains two apartments of approximately 850 square feet each, with two bedrooms and one full bath per unit. Both feature terrazzo flooring, a kitchen with updated stainless steel appliances, and a living area. Improvements include new windows, updated HVAC, smart thermostats, and sound insulation between the apartments. Each unit has a separate meter, a front patio, a fenced backyard, and space for two vehicles. The property was built in 1965 and sits on a 0.271-acre lot with RM25 zoning.
The property is near Bull Street, SCAD buildings, neighborhood parks, and Starland shops and restaurants. Forsyth Park is less than a mile away, and historic downtown Savannah is less than 10 minutes away.
The property is near Bull Street, SCAD buildings, neighborhood parks, and Starland shops and restaurants. Forsyth Park is less than a mile away, and historic downtown Savannah is less than 10 minutes away.
Key Highlights
- Two apartments, each approximately 850 square feet with 2 bedrooms and 1 full bath
- 0.271‑acre lot; RM25 zoning
- Renovated interiors include terrazzo floors, updated stainless steel appliances, new windows, and updated HVAC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,534
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,680
$370.7K
Cap Rate 7%
$264,771
$264.8K
Cap Rate 9%
$205,933
$205.9K
Market Conditions
NOI Build-Up for 1,748 SF
Gross rent
$28.3K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$26.5K $15.15/SF
− OpEx
−$7.9K −$4.54/SF
NOI
$18.5K $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%
$370,680
Cap Rate 7%
$264,771
Cap Rate 9%
$205,933
Alternative Uses
Best Use
Multifamily LT 5
$264.8K
$231.7K – $308.9K
NOI $18,534 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$245.5K
$214.9K – $286.5K
NOI $17,188 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$472.0K
$413.0K – $550.6K
NOI $33,037 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 31405, GA
38,069
Population
16,809
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
31.2 sq mi
ZIP Area
1,220
Density / Sq Mi
$62,123
Median Household Income
$35,836
Median Earnings
$1,431
Median Rent
$304,800
Median Home Value
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Market
Average Price Trend$/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 - Two separately metered apartments offer private outdoor areas, updated mechanicals, and off-street parking.
Where is this duplex located?
The property is located at 114 W 55th Street Savannah, GA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two apartments, each approximately 850 square feet with 2 bedrooms and 1 full bath; 0.271‑acre lot; RM25 zoning; Renovated interiors include terrazzo floors, updated stainless steel appliances, new windows, and updated HVAC
