Two-Story Duplex with Income
115 W 37th Street Savannah, GA 31401
New
For Sale
$759,900
MULTI_FAMILY - Savannah, GA
Property Size2,902 SF
Lot Size0.07 Acres
Price / SF$261.85
Days on Market4
Property Features for 115 W 37th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RIP
Bedrooms
6
Bathrooms
4
Rooms
Bedroom 3, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 2, Bathroom 4
Patio and Porch features
Porch
Fireplace
1
Appliances
Electric Water Heater
Standard status
Active
APN
2006522002
Size
2,902 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LT 108 ESTILL WD
Tax Annual Amount
4998
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Brick, Frame
Roof type
Composition
Listing Agency:
Seaport Real Estate Group
(912) 202-2042
Listed By:
Andrew C. Myers · License #343717
(912) 659-0299
Added: Jul 25
Last Checked: Jul 28 at 2:06AM
MLS# SA361181
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 original two-story duplex at 115 W 37th Street features classic architectural details throughout, including hardwood floors, soaring ceilings, decorative fireplaces, and original window and door trim. The property is configured with two separate residential units. The downstairs unit offers three bedrooms and 1.5 bathrooms and is currently vacant. The upstairs unit offers three bedrooms and two bathrooms and is tenant-occupied, providing immediate rental income from day one.
Located in Savannah, the property is described as being just minutes from downtown Savannah and the Starland District, with access to local restaurants, shops, and entertainment.
Zoned RIP (residential income property), this duplex presents an owner-occupant or investor option with one unit ready for renovation while maintaining income generation through the occupied unit.
Located in Savannah, the property is described as being just minutes from downtown Savannah and the Starland District, with access to local restaurants, shops, and entertainment.
Zoned RIP (residential income property), this duplex presents an owner-occupant or investor option with one unit ready for renovation while maintaining income generation through the occupied unit.
Key Highlights
- Original 2‑story duplex built in 1920 with brick/frame construction
- Downstairs unit: 3 bedrooms, 1.5 bathrooms; currently vacant
- Upstairs unit: 3 bedrooms, 2 bathrooms; currently tenant‑occupied for rental income
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.0k | $16.20 |
| − Vacancy | −$3.1k | −$1.05 |
| EGI | $44.0k | $15.15 |
| − OpEx | −$13.2k | −$4.54 |
| NOI | $30.8k | $10.60 |
2,902 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$439.6K
$384.6K – $512.8K
NOI $30,770 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$407.6K
$356.7K – $475.6K
NOI $28,535 @ 7.0% cap · market cap 3.76%
Theoretical Best
Warehouse
$2.71M
$2.37M – $3.16M
NOI $189,847 @ 7.0% cap · market cap 24.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Original two-story duplex with a vacant 3/1.5 downstairs unit and a tenant-occupied 3/2 upstairs unit.
Where is this duplex located?
The property is located at 115 W 37th Street Savannah, GA.
What is the asking price?
The asking price for this property is $759,900.
What are key features of this property?
This property features: Original 2‑story duplex built in 1920 with brick/frame construction; Downstairs unit: 3 bedrooms, 1.5 bathrooms; currently vacant; Upstairs unit: 3 bedrooms, 2 bathrooms; currently tenant‑occupied for rental income
