Two-Unit Duplex with Rear
New
For Sale
$350,000
1309 E Anderson St, Savannah, GA 31404
Upper and lower residences offer matching two-bedroom, one-bath layouts with dedicated parking behind the building.
Property Size2,112 SF
Price / SF$165.72
Days on Market5
Property Features for 1309 E Anderson St
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1928
Buildings
1
Listing Agency:
Jean Walker Realty LLC
(912) 898-4134
Listed By:
Kimberly Kay Williamson · License #248274
Source:
Patrickrealestate
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 12:30PM
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 Jean Walker Realty LLC
Investment Insights
Based on property information with market context.
This 2,112-square-foot duplex, built in 1928, contains two separate apartments arranged on the upper and lower levels. Each residence provides two bedrooms and one bathroom, creating a consistent layout across both units. Private parking is located at the rear of the property.
The property is within walking distance of downtown, while the beach is approximately 15 minutes away. Its two-unit configuration and individually defined living spaces support straightforward residential occupancy arrangements.
The property is within walking distance of downtown, while the beach is approximately 15 minutes away. Its two-unit configuration and individually defined living spaces support straightforward residential occupancy arrangements.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 2,112 SF duplex built in 1928
- Upper- and lower‑level unit configuration
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
$22,393
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
6.40%
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%
$447,860
$447.9K
Cap Rate 7%
$319,900
$319.9K
Cap Rate 9%
$248,811
$248.8K
Market Conditions
NOI Build-Up for 2,112 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
$34.2K $16.20/SF
− Vacancy
−$2.2K −$1.05/SF
EGI
$32.0K $15.15/SF
− OpEx
−$9.6K −$4.54/SF
NOI
$22.4K $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%
$447,860
Cap Rate 7%
$319,900
Cap Rate 9%
$248,811
Alternative Uses
Best Use
Multifamily LT 5
$319.9K
$279.9K – $373.2K
NOI $22,393 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$296.7K
$259.6K – $346.1K
NOI $20,767 @ 7.0% cap · market cap 5.93%
Theoretical Best
Warehouse
$1.97M
$1.73M – $2.30M
NOI $138,166 @ 7.0% cap · market cap 39.48%
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 - Upper and lower residences offer matching two-bedroom, one-bath layouts with dedicated parking behind the building.
Where is this duplex located?
The property is located at 1309 E Anderson St Savannah, GA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 2,112 SF duplex built in 1928; Upper- and lower‑level unit configuration
