Renovated Duplex with Private
114 W 55th Street, Savannah, GA 31405
For Sale
New
$399,000
Savannah, GA
Property Size1,748 SF
Price / SF$228.26
Days on Market1
Property Features for 114 W 55th Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Standard status
Size
Additional Details
Individually Metered Utilities
Amenities
front patio
private fenced backyard
sound insulation
smart thermostats
Building Details
Year built
Buildings
Listing Agency:
Engel & Volkers Savannah · Engel & Völkers
(912) 238-0874
Listed By:
Anna Grace Lowenthal · License GA #425445
Added: Nov 12
Last Checked: Nov 12 at 2:06PM
MLS# SA367629
Copyright © 2026 Engel & Völkers. 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 duplex contains two apartments of approximately 850 square feet apiece, each arranged with two bedrooms, one full bath, and a kitchen that connects to the living area. Terrazzo flooring remains throughout both units, while updated stainless steel appliances, newer windows, updated HVAC, smart thermostats, and sound insulation add practical improvements. Each residence has a separate meter, a front patio, a fenced backyard, and space for two vehicles off street. The recorded building size is 1,748 square feet, and the property was built in 1965.
The property is on West 55th Street in Savannah, near SCAD buildings, parks, and Starland cafés, galleries, and restaurants. Forsyth Park is less than a mile away, and historic downtown Savannah is less than a 10-minute drive. Additional lot area is noted, with the possibility of another residence subject to city approval.
The property is on West 55th Street in Savannah, near SCAD buildings, parks, and Starland cafés, galleries, and restaurants. Forsyth Park is less than a mile away, and historic downtown Savannah is less than a 10-minute drive. Additional lot area is noted, with the possibility of another residence subject to city approval.
Key Highlights
- Two apartments, each approximately 850 square feet, with 2 bedrooms and 1 full bath
- 1,748‑square‑foot building, built in 1965
- Updated HVAC, new windows, smart thermostats, and sound insulation between apartments
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 - Separate meters, individual patios, and off-street parking serve each apartment.
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; 1,748‑square‑foot building, built in 1965; Updated HVAC, new windows, smart thermostats, and sound insulation between apartments
