Duplex with Wraparound
For Sale
$489,900
723 E Henry St, Savannah, GA 31401
Two residential units combine flexible room layouts with four off-street parking spaces and a large wraparound porch.
Property Size2,398 SF
Price / SF$204.30
Days on Market42
Property Features for 723 E Henry St
General Information
Standard status
Active
Size
2,398 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA + flex, 1 x 3BR/1BA + flex
Multifamily Units
2
Building Details
Year Built
1910
Listing Agency:
Eighteen O'Two Realty LLC
(912) 220-9806
Listed By:
Wynn Martin · License #374726
Source:
Barefootbrokers
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 25 at 4:04AM
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 Eighteen O'Two Realty LLC
Investment Insights
Based on property information with market context.
Built in 1910, this 2,398-square-foot duplex includes two residential units with distinct layouts and shared architectural character. The first-floor residence offers 3 bedrooms, 2 full bathrooms, and a flex room that can serve as an office, bonus room, or additional bedroom. Upstairs, the second unit provides 3 bedrooms, 1 bathroom, and another flex room suited to office or bedroom use. A large wraparound porch and four off-street parking spaces add usable exterior features.
The property is located at 723 E Henry St in Savannah’s Eastside District, with Forsyth Park within walking distance. Its two-unit configuration and adaptable room counts support a range of residential occupancy arrangements, subject to applicable requirements.
The property is located at 723 E Henry St in Savannah’s Eastside District, with Forsyth Park within walking distance. Its two-unit configuration and adaptable room counts support a range of residential occupancy arrangements, subject to applicable requirements.
Key Highlights
- 2,398‑square‑foot duplex built in 1910
- Two residential units with 3‑bedroom layouts
- Lower unit includes 2 full bathrooms and a flex room
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
$25,426
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
5.19%
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%
$508,520
$508.5K
Cap Rate 7%
$363,229
$363.2K
Cap Rate 9%
$282,511
$282.5K
Market Conditions
NOI Build-Up for 2,398 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
$38.8K $16.20/SF
− Vacancy
−$2.5K −$1.05/SF
EGI
$36.3K $15.15/SF
− OpEx
−$10.9K −$4.54/SF
NOI
$25.4K $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%
$508,520
Cap Rate 7%
$363,229
Cap Rate 9%
$282,511
Alternative Uses
Best Use
Multifamily LT 5
$363.2K
$317.8K – $423.8K
NOI $25,426 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$336.8K
$294.7K – $393.0K
NOI $23,579 @ 7.0% cap · market cap 4.81%
Theoretical Best
Warehouse
$2.24M
$1.96M – $2.61M
NOI $156,876 @ 7.0% cap · market cap 32.02%
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
1,190
Businesses Nearby
Explore this area
Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
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 residential units combine flexible room layouts with four off-street parking spaces and a large wraparound porch.
Where is this duplex located?
The property is located at 723 E Henry St Savannah, GA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 2,398‑square‑foot duplex built in 1910; Two residential units with 3‑bedroom layouts; Lower unit includes 2 full bathrooms and a flex room
