Four-Cottage Multifamily
For Sale
$1,110,000
1315 1317 Seiler Ave, Savannah, GA 31404
Four detached residences share landscaped outdoor space in an in-town Savannah setting.
Property Size3,675 SF
Price / SF$302.04
Days on Market11
Property Features for 1315 1317 Seiler Ave
General Information
Standard status
Active
Size
3,675 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
shared manicured green space
private outdoor living
Building Details
Year Built
1933
Buildings
4
Listing Agency:
Laurie deVegter Real Estate
Listed By:
Laurie H. Devegter · License #264519
(912) 220-0957
Source:
Southeastgahomesearch
Added: Sep 1
Changed: Sep 8
Last Checked: Sep 11 at 4:48PM
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 Laurie deVegter Real Estate
Investment Insights
Based on property information with market context.
This multifamily property comprises four detached cottage residences arranged around shared green space. Two homes are identified as 2026 new construction, while the other two have been extensively renovated. Private outdoor living areas add usable space beyond the residences, and the configuration supports operation as a long-term rental community or an owner-occupied property with additional homes leased separately.
The property is located at 1315 1317 Seiler Ave in Savannah, near downtown, hospitals, SCAD, Truman Parkway, and neighborhood restaurants. A condominium regime is in process and is anticipated for completion by October, subject to final recording and applicable approvals. Until that process is complete, the residences are offered together as one property.
The property is located at 1315 1317 Seiler Ave in Savannah, near downtown, hospitals, SCAD, Truman Parkway, and neighborhood restaurants. A condominium regime is in process and is anticipated for completion by October, subject to final recording and applicable approvals. Until that process is complete, the residences are offered together as one property.
Key Highlights
- Four detached cottage residences on one property
- Two homes identified as 2026 new construction; two extensively renovated
- Shared green space and private outdoor living areas
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
$36,136
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
3.26%
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%
$722,720
$722.7K
Cap Rate 7%
$516,229
$516.2K
Cap Rate 9%
$401,511
$401.5K
Market Conditions
NOI Build-Up for 3,675 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
$70.1K $19.08/SF
− Vacancy
−$4.4K −$1.20/SF
EGI
$65.7K $17.88/SF
− OpEx
−$29.6K −$8.05/SF
NOI
$36.1K $9.83/SF
Area
Savannah, GA
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$722,720
Cap Rate 7%
$516,229
Cap Rate 9%
$401,511
Alternative Uses
Best Use
Apartment 5plus
$516.2K
$451.7K – $602.3K
NOI $36,136 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.43M
$3.01M – $4.01M
NOI $240,417 @ 7.0% cap · market cap 21.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
537
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Four detached residences share landscaped outdoor space in an in-town Savannah setting.
Where is this multifamily property located?
The property is located at 1315 1317 Seiler Ave Savannah, GA.
What is the asking price?
The asking price for this property is $1,110,000.
What are key features of this property?
This property features: Four detached cottage residences on one property; Two homes identified as 2026 new construction; two extensively renovated; Shared green space and private outdoor living areas
