Bungalow Duplex with Two-Car
For Sale
$364,500
19 Smith Avenue, Savannah, GA 31408
Bungalow, Other - Savannah, GA
Property Size1,850 SF
Lot Size0.44 Acres
Price / SF$197.03
Days on Market58
Property Features for 19 Smith Avenue
General Information
Property type
Other
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
Subdivision
Tract 152
View
Panorama
Directions
From Downtown Savannah, take US-80 W toward Garden City, then turn onto Smith Avenue. Home will be on the left.
Standard status
Active
APN
6000503063
Size
1,850 SF
Lot size
0.44 Acres
Utilities
Heating system
Central, Electric (Heating), Natural Gas
Cooling system
Central Air, Electric
Building Details
Year built
1930
Roof type
Asphalt
Architectural style
Bungalow
Listing Agency:
Engel & Völkers Savannah
(912) 238-0874
Listed By:
Ridley Stallings · License #370720
(706) 566-5235
Added: Jul 7
Changed: Jul 15
Last Checked: Sep 2 at 6:06PM
MLS# SA348474
Copyright © 2026 Engel & Völkers. 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.
19 Smith Avenue is a bungalow-style residential income property with flexible living arrangements. The main home features 3 bedrooms and 1 bath and includes a front porch and a screened back porch. A detached two-car garage on the ground level provides additional storage and workshop space. Upstairs, there is a 2-bedroom, 1-bath apartment that is currently leased, adding an income-producing component to the property.
The property sits on an oversized 0.44-acre lot in Savannah, GA 31408, offering an opportunity to own a two-dwelling setup within a single homesite.
Combined, the two dwellings offer approximately 1,850 square feet of living space, providing a practical configuration for owners seeking income from one unit while retaining space in the main residence.
The property sits on an oversized 0.44-acre lot in Savannah, GA 31408, offering an opportunity to own a two-dwelling setup within a single homesite.
Combined, the two dwellings offer approximately 1,850 square feet of living space, providing a practical configuration for owners seeking income from one unit while retaining space in the main residence.
Key Highlights
- 0.44‑acre lot with bungalow‑style main home plus a 2‑bedroom, 1‑bath upstairs apartment for added flexibility.
- Main residence offers 3 bedrooms and 1 bath, with a front porch and a screened back porch.
- Upstairs apartment has 2 bedrooms and 1 bath and is currently leased for $1,250/month.
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
$19,615
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
5.38%
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%
$392,300
$392.3K
Cap Rate 7%
$280,214
$280.2K
Cap Rate 9%
$217,944
$217.9K
Market Conditions
NOI Build-Up for 1,850 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
$30.0K $16.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$28.0K $15.15/SF
− OpEx
−$8.4K −$4.54/SF
NOI
$19.6K $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%
$392,300
Cap Rate 7%
$280,214
Cap Rate 9%
$217,944
Alternative Uses
Best Use
Multifamily LT 5
$280.2K
$245.2K – $326.9K
NOI $19,615 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$259.9K
$227.4K – $303.2K
NOI $18,191 @ 7.0% cap · market cap 4.99%
Theoretical Best
Warehouse
$1.73M
$1.51M – $2.02M
NOI $121,026 @ 7.0% cap · market cap 33.20%
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
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 31408, GA
11,790
Population
4,529
Households
2.6
Avg Household Size
36
Median Age
13%
College-Educated
82%
High-School Grad
21.1 sq mi
ZIP Area
559
Density / Sq Mi
$40,109
Median Household Income
$30,667
Median Earnings
$1,080
Median Rent
$160,600
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 - Charming bungalow with a leased upstairs apartment and a detached two-car garage on a 0.44-acre lot.
Where is this duplex located?
The property is located at 19 Smith Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $364,500.
What are key features of this property?
This property features: 0.44‑acre lot with bungalow‑style main home plus a 2‑bedroom, 1‑bath upstairs apartment for added flexibility.; Main residence offers 3 bedrooms and 1 bath, with a front porch and a screened back porch.; Upstairs apartment has 2 bedrooms and 1 bath and is currently leased for $1,250/month.
