Renovated
For Sale
$399,999
1208 E 55th St, Savannah, GA 31404
Two updated residential units offer open layouts, island kitchens, and remodeled baths near downtown Savannah.
Property Size1,862 SF
Price / SF$214.82
Days on Market41
Property Features for 1208 E 55th St
General Information
Standard status
Active
Size
1,862 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1940
Listing Agency:
Southern Charm Team, LLC
(912) 657-3569
Listed By:
Susie Sowell · License #350017
Source:
Southeastgahomesearch
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 5:29AM
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 Southern Charm Team, LLC
Investment Insights
Based on property information with market context.
Built in 1940, this 1,862-square-foot duplex contains two residential units with bright, open layouts. Each unit includes a spacious kitchen, center island, granite countertops, updated cabinetry, and a remodeled bathroom. Recent improvements include a new roof, replacement windows, updated electrical service, and new flooring.
The property is located at 1208 E. 55th St in Savannah, minutes from Historic Downtown Savannah, shopping, dining, hospitals, parks, and major roadways. The two-unit arrangement supports an owner-occupancy setup with rental income from the second unit or use as a multifamily investment property.
The property is located at 1208 E. 55th St in Savannah, minutes from Historic Downtown Savannah, shopping, dining, hospitals, parks, and major roadways. The two-unit arrangement supports an owner-occupancy setup with rental income from the second unit or use as a multifamily investment property.
Key Highlights
- 1,862‑square‑foot duplex with two residential units
- Built in 1940 and extensively updated with a new roof, windows, flooring, and electrical service
- Both units feature open layouts and spacious kitchens with center islands
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
$19,743
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
4.94%
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%
$394,860
$394.9K
Cap Rate 7%
$282,043
$282.0K
Cap Rate 9%
$219,367
$219.4K
Market Conditions
NOI Build-Up for 1,862 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
$30.2K $16.20/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$28.2K $15.15/SF
− OpEx
−$8.5K −$4.54/SF
NOI
$19.7K $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%
$394,860
Cap Rate 7%
$282,043
Cap Rate 9%
$219,367
Alternative Uses
Best Use
Multifamily LT 5
$282.0K
$246.8K – $329.1K
NOI $19,743 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$261.6K
$228.9K – $305.2K
NOI $18,309 @ 7.0% cap · market cap 4.58%
Theoretical Best
Warehouse
$1.74M
$1.52M – $2.03M
NOI $121,811 @ 7.0% cap · market cap 30.45%
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
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 31404, GA
31,530
Population
14,427
Households
2.2
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$49,805
Median Household Income
$31,620
Median Earnings
$1,199
Median Rent
$193,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two updated residential units offer open layouts, island kitchens, and remodeled baths near downtown Savannah.
Where is this duplex located?
The property is located at 1208 E 55th St Savannah, GA.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 1,862‑square‑foot duplex with two residential units; Built in 1940 and extensively updated with a new roof, windows, flooring, and electrical service; Both units feature open layouts and spacious kitchens with center islands
