Updated Duplex Near The
For Sale
$799,000
1404 Jones Ave, Tybee Island, GA 31328
Two residences combine coastal living, recent improvements, and convenient access to dining, shopping, and entertainment.
Property Size2,140 SF
Price / SF$373.36
Days on Market12
Property Features for 1404 Jones Ave
General Information
Standard status
Active
Size
2,140 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Furnished
Yes
Building Details
Year Built
1991
Listing Agency:
Century 21 Solomon Properties
(912) 631-1032
Listed By:
Lee Ann Marsh · License #245551
Source:
Patrickrealestate
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 29 at 11:34AM
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 Century 21 Solomon Properties
Investment Insights
Based on property information with market context.
This updated duplex property includes a three-bedroom, two-bath home and a one-bedroom, one-bath apartment within 2,140 square feet. Built in 1991, the property has undergone recent renovations that create a bright interior with an open feel and abundant natural light. Three sliding glass doors open onto the front porch, extending the living area outdoors.
The property is located three blocks from the beach and within walking distance of restaurants, bars, shopping, and entertainment in Tybee Island. The sale includes furnishings, providing a ready-to-use coastal property with both a primary residence and apartment component.
The property is located three blocks from the beach and within walking distance of restaurants, bars, shopping, and entertainment in Tybee Island. The sale includes furnishings, providing a ready-to-use coastal property with both a primary residence and apartment component.
Key Highlights
- Three‑bedroom, two‑bath home paired with a one‑bedroom, one‑bath apartment
- 2,140 square feet across the duplex property
- Three blocks from the beach
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
$22,690
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
2.84%
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%
$453,800
$453.8K
Cap Rate 7%
$324,143
$324.1K
Cap Rate 9%
$252,111
$252.1K
Market Conditions
NOI Build-Up for 2,140 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
$34.7K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$32.4K $15.15/SF
− OpEx
−$9.7K −$4.54/SF
NOI
$22.7K $10.60/SF
Area
Chatham County, 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%
$453,800
Cap Rate 7%
$324,143
Cap Rate 9%
$252,111
Alternative Uses
Best Use
Multifamily LT 5
$324.1K
$283.6K – $378.2K
NOI $22,690 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$300.6K
$263.0K – $350.7K
NOI $21,042 @ 7.0% cap · market cap 2.63%
Theoretical Best
Warehouse
$2.00M
$1.75M – $2.33M
NOI $139,998 @ 7.0% cap · market cap 17.52%
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
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 31328, GA
3,430
Population
3,490
Households
1
Avg Household Size
60
Median Age
49%
College-Educated
97%
High-School Grad
9.2 sq mi
ZIP Area
373
Density / Sq Mi
$105,669
Median Household Income
$42,280
Median Earnings
$1,205
Median Rent
$615,200
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 residences combine coastal living, recent improvements, and convenient access to dining, shopping, and entertainment.
Where is this duplex located?
The property is located at 1404 Jones Ave Tybee Island, GA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bath home paired with a one‑bedroom, one‑bath apartment; 2,140 square feet across the duplex property; Three blocks from the beach
