Two-Unit Duplex with Rear
For Sale
$350,000
1309 E Anderson Street, Savannah, GA 31404
Residential Income, Savannah, GA
Property Size2,112 SF
Lot Size0.08 Acres
Price / SF$165.72
Days on Market329
Property Features for 1309 E Anderson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Off Street
Patio and Porch features
Porch
Appliances
Electric Water Heater, Refrigerator
Subdivision
Villa Heights
Lot features
Alley
Directions
Travel East on Anderson Street. Building will be on the right.
Standard status
Active
APN
2005610017
Size
2,112 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 41 PURSE WD
Tax Annual Amount
1979
Legal Description
LOT 41 PURSE WD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1928
Floors in Building
2
Number of units
1
Flooring type
Carpet, Hardwood
Listing Agency:
Jean Walker Realty LLC
(912) 898-4134
Listed By:
Kimberly Kay Williamson · License #248274
(912) 412-2322
Added: Oct 6, 2025
Changed: Aug 19
Last Checked: Aug 30 at 12:06PM
MLS# SA341205
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 2,112-square-foot duplex includes separate upper and lower apartments, with each residence offering two bedrooms and one bathroom. The property provides private off-street parking at the rear, along with a porch, carpet and hardwood flooring, refrigerators, electric water heaters, central heating, and central air conditioning. Built in 1928, the building sits on 0.078 acres and is served by public water and public sewer.
The property is within walking distance of downtown Savannah and approximately 15 minutes from the beach. R4 zoning and the two-apartment configuration support its residential income property classification.
The property is within walking distance of downtown Savannah and approximately 15 minutes from the beach. R4 zoning and the two-apartment configuration support its residential income property classification.
Key Highlights
- Two‑unit duplex with an upstairs apartment and a downstairs apartment
- Each apartment includes 2 bedrooms and 1 bathroom
- 2,112 square feet on a 0.078‑acre lot
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 apartments each provide two bedrooms and one bathroom.
Where is this duplex located?
The property is located at 1309 E Anderson Street 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‑unit duplex with an upstairs apartment and a downstairs apartment; Each apartment includes 2 bedrooms and 1 bathroom; 2,112 square feet on a 0.078‑acre lot
