Renovated Duplex with Finished
For Sale
$359,000
1321 1321/1323 E 55th St, Savannah, GA 31404
Two separately metered units offer updated kitchens, HVAC, and off-street parking.
Property Size1,655 SF
Price / SF$216.92
Days on Market76
Property Features for 1321 1321/1323 E 55th St
General Information
Standard status
Active
Size
1,655 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$36,000
Amenities
professionally landscaped
oversized backyard
storage shed/workshop
off-street parking
Building Details
Year Built
1944
Tenancy
Multi
Listing Agency:
eXp Realty LLC
Listed By:
Christopher J. Edenfield · License #123587
(478) 951-9532
Source:
Southeastgahomesearch
Added: Aug 5
Changed: Oct 9
Last Checked: Oct 7 at 3:28PM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
This renovated duplex contains 1,655 square feet across two separately metered residences, each arranged with two bedrooms and one bathroom. One unit includes a dedicated dining room and finished attic space that can serve as additional living area or storage. Improvements include a new electrical system, new HVAC, refreshed kitchens with new cabinetry and countertops, new flooring, interior and exterior paint, and professional landscaping. The property was built in 1944.
The oversized backyard includes a permanent storage shed and workshop, with space suited to outdoor use or gardening. Off-street parking serves the property. The duplex is located less than one mile from Daffin Park, approximately 10 minutes from Downtown Savannah, and near Memorial Health.
The oversized backyard includes a permanent storage shed and workshop, with space suited to outdoor use or gardening. Off-street parking serves the property. The duplex is located less than one mile from Daffin Park, approximately 10 minutes from Downtown Savannah, and near Memorial Health.
Key Highlights
- 1,655‑SF duplex with two separately metered units
- Each residence offers 2 bedrooms and 1 bathroom
- One unit includes a dedicated dining room and finished attic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,548
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$350,960
$351.0K
Cap Rate 7%
$250,686
$250.7K
Cap Rate 9%
$194,978
$195.0K
Market Conditions
NOI Build-Up for 1,655 SF
Gross rent
$26.8K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$25.1K $15.15/SF
− OpEx
−$7.5K −$4.54/SF
NOI
$17.5K $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 Rate 5%
$350,960
Cap Rate 7%
$250,686
Cap Rate 9%
$194,978
Alternative Uses
Best Use
Multifamily LT 5
$250.7K
$219.4K – $292.5K
NOI $17,548 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$232.5K
$203.4K – $271.2K
NOI $16,273 @ 7.0% cap · market cap 4.53%
Theoretical Best
Warehouse
$1.55M
$1.35M – $1.80M
NOI $108,269 @ 7.0% cap · market cap 30.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
954
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
Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units offer updated kitchens, HVAC, and off-street parking.
Where is this duplex located?
The property is located at 1321 1321/1323 E 55th St Savannah, GA.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 1,655‑SF duplex with two separately metered units; Each residence offers 2 bedrooms and 1 bathroom; One unit includes a dedicated dining room and finished attic
