Updated Duplex with Hardwood
For Sale
$459,000
1223 & 1225 E 70th St, Savannah, GA 31404
Two independent units support flexible owner-occupant or rental use in Midtown Savannah.
Property Size1,683 SF
Price / SF$272.73
Days on Market20
Property Features for 1223 & 1225 E 70th St
General Information
Standard status
Active
Size
1,683 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
patio
Building Details
Year Built
1948
Buildings
1
Listing Agency:
Keller Williams Coastal Area P
(404) 644-4339
Listed By:
Samuel J. Bates · License #422215
Source:
Thehomesourcegroupga
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 29 at 10:54AM
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 Keller Williams Coastal Area P
Investment Insights
Based on property information with market context.
Built in 1948, this 1,683-square-foot duplex contains two separate units, each arranged with two bedrooms and one bathroom. Both residences feature original hardwood flooring through the living areas and bedrooms, along with upgraded kitchens equipped with granite countertops, white cabinetry, stainless steel appliances, and open shelving. A large outdoor patio adds shared space for gathering or relaxation, while off-street parking provides added convenience.
The property is located in Midtown Savannah at 1223 & 1225 E 70th St, near major hospitals, shopping centers, and Downtown Savannah. The two-unit configuration supports multiple ownership strategies, including occupying one residence while leasing the other or renting both units.
The property is located in Midtown Savannah at 1223 & 1225 E 70th St, near major hospitals, shopping centers, and Downtown Savannah. The two-unit configuration supports multiple ownership strategies, including occupying one residence while leasing the other or renting both units.
Key Highlights
- Two‑unit duplex with 1,683 SF of total property size
- Each unit includes 2 bedrooms and 1 bathroom
- Upgraded kitchens with granite countertops and stainless steel appliances
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
$17,845
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
3.89%
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%
$356,900
$356.9K
Cap Rate 7%
$254,929
$254.9K
Cap Rate 9%
$198,278
$198.3K
Market Conditions
NOI Build-Up for 1,683 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
$27.3K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$25.5K $15.15/SF
− OpEx
−$7.6K −$4.54/SF
NOI
$17.8K $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%
$356,900
Cap Rate 7%
$254,929
Cap Rate 9%
$198,278
Alternative Uses
Best Use
Multifamily LT 5
$254.9K
$223.1K – $297.4K
NOI $17,845 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$236.4K
$206.9K – $275.8K
NOI $16,549 @ 7.0% cap · market cap 3.61%
Theoretical Best
Warehouse
$1.57M
$1.38M – $1.84M
NOI $110,101 @ 7.0% cap · market cap 23.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,791
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two independent units support flexible owner-occupant or rental use in Midtown Savannah.
Where is this duplex located?
The property is located at 1223 & 1225 E 70th St Savannah, GA.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,683 SF of total property size; Each unit includes 2 bedrooms and 1 bathroom; Upgraded kitchens with granite countertops and stainless steel appliances
