Under-Construction Duplex with
For Sale
$914,900
1228 E Anderson Street, Savannah, GA 31404
Residential Income, Savannah, GA
Property Size3,494 SF
Lot Size0.11 Acres
Price / SF$261.85
Days on Market47
Property Features for 1228 E Anderson Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
TR-2
Zoning description
Multi Family
Bedrooms
6
Bathrooms
8
Full bathrooms
8
Half bathrooms
2
Rooms
Bedroom 2, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 4, Bathroom 7, Bathroom 8, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 5, Bedroom 6, Bathroom 6
Parking features
Parking Lot
Security features
Security Lighting
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Pull Down Attic Stairs, Fireplace, Programmable Thermostat
Exterior features
Balcony, Courtyard
Fencing
Privacy, Fenced
Fireplace
1
Appliances
Some Electric Appliances, Dryer, Electric Water Heater, Disposal, Microwave, Oven, Range, Washer, Refrigerator
Lot features
Alley
Directions
Coming from Downtown, turn left on E Anderson st. Pass Live Oak street crossing. Your house is on the left right before Cedar St.
Standard status
Active
APN
2005605003
Size
3,494 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
Lot 230, Block A of Ballantyne Ward
Legal Description
Lot 230, Block A of Ballantyne Ward
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump, Electric, Central Air
Water source
Public
Amenities
courtyard
Building Details
Year built
2025
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Frame, Concrete
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Realty One Group Inclusion
(912) 298-7200
Listed By:
Inna Adams · License #385233
(912) 844-1846
Added: Jul 23
Changed: Sep 5
Last Checked: Sep 7 at 11:06AM
MLS# SA361083
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 under-construction duplex in Savannah, Georgia, contains 3,494 square feet and is scheduled for completion in 2025. Each residence is described with three bedrooms and 3.5 bathrooms, including private en-suite baths and walk-in closets. Interior features include open-concept living spaces, high ceilings, electric fireplaces, wood cabinetry, quartz countertops, premium appliances, and oversized kitchen islands. The upper residence adds tray ceilings, a balcony, and storage space.
The property includes a fenced courtyard, porch, parking lot, central air, heat-pump heating and cooling, and public water and sewer. It is located near Savannah’s historic Victorian homes and within minutes of Downtown Savannah, SCAD, hospitals, parks, restaurants, shopping, and historic attractions. TR-2 zoning supports the property’s residential-income classification.
The property includes a fenced courtyard, porch, parking lot, central air, heat-pump heating and cooling, and public water and sewer. It is located near Savannah’s historic Victorian homes and within minutes of Downtown Savannah, SCAD, hospitals, parks, restaurants, shopping, and historic attractions. TR-2 zoning supports the property’s residential-income classification.
Key Highlights
- Duplex under construction with 3,494 square feet and a 2025 year built
- Each unit offers 3 bedrooms and 3.5 bathrooms
- Private en‑suite bathrooms and walk‑in closets in every bedroom
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
$37,047
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
4.05%
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%
$740,940
$740.9K
Cap Rate 7%
$529,243
$529.2K
Cap Rate 9%
$411,633
$411.6K
Market Conditions
NOI Build-Up for 3,494 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
$56.6K $16.20/SF
− Vacancy
−$3.7K −$1.05/SF
EGI
$52.9K $15.15/SF
− OpEx
−$15.9K −$4.54/SF
NOI
$37.0K $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%
$740,940
Cap Rate 7%
$529,243
Cap Rate 9%
$411,633
Alternative Uses
Best Use
Multifamily LT 5
$529.2K
$463.1K – $617.5K
NOI $37,047 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$490.8K
$429.5K – $572.6K
NOI $34,356 @ 7.0% cap · market cap 3.76%
Theoretical Best
Warehouse
$3.27M
$2.86M – $3.81M
NOI $228,576 @ 7.0% cap · market cap 24.98%
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
415
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-unit property with private en-suite bathrooms, open living areas, and a fully fenced courtyard.
Where is this duplex located?
The property is located at 1228 E Anderson Street Savannah, GA.
What is the asking price?
The asking price for this property is $914,900.
What are key features of this property?
This property features: Duplex under construction with 3,494 square feet and a 2025 year built; Each unit offers 3 bedrooms and 3.5 bathrooms; Private en‑suite bathrooms and walk‑in closets in every bedroom
