Two-Unit Duplex with Front
New
For Sale
$294,900
211 W 59th St, Savannah, GA 31405
A separate one-bedroom apartment includes a kitchenette and laundry alongside the two-bedroom main residence.
Property Size2,015 SF
Price / SF$146.35
Days on Market4
Property Features for 211 W 59th St
General Information
Standard status
Active
Size
2,015 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Gross Income
$10,800
Amenities
washer and dryer
kitchenette
front porch
off street parking
Building Details
Year Built
1938
Buildings
1
Listing Agency:
Engel & Volkers
Listed By:
Jessica L. Kelly · License #270287
(912) 441-9101
Source:
Myhomesearchtriangle
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:55PM
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 Engel & Volkers
Investment Insights
Based on property information with market context.
Built in 1938, this 2,015-square-foot duplex is arranged as two living areas. The apartment has one bedroom, one bathroom, a kitchenette, and a washer and dryer; it is currently rented month to month. The main residence includes two bedrooms, one and a half bathrooms, an eat-in kitchen, and an oversized laundry and utility room. An interior door allows the spaces to be connected. The property also has a deep front porch and a large yard with off-street parking.
The home is in Savannah, with access to Hunter Army Airfield, hospitals, schools, shopping, and downtown. Its current two-unit configuration and option to connect the spaces provide distinct living arrangements within one property.
The home is in Savannah, with access to Hunter Army Airfield, hospitals, schools, shopping, and downtown. Its current two-unit configuration and option to connect the spaces provide distinct living arrangements within one property.
Key Highlights
- 2,015‑square‑foot duplex built in 1938
- Apartment has 1 bedroom, 1 bathroom, kitchenette, and washer and dryer
- Main residence offers 2 bedrooms, 1.5 bathrooms, an eat‑in kitchen, and oversized laundry and utility 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
$21,365
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
7.24%
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%
$427,300
$427.3K
Cap Rate 7%
$305,214
$305.2K
Cap Rate 9%
$237,389
$237.4K
Market Conditions
NOI Build-Up for 2,015 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
$32.6K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$30.5K $15.15/SF
− OpEx
−$9.2K −$4.54/SF
NOI
$21.4K $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%
$427,300
Cap Rate 7%
$305,214
Cap Rate 9%
$237,389
Alternative Uses
Best Use
Multifamily LT 5
$305.2K
$267.1K – $356.1K
NOI $21,365 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$283.0K
$247.7K – $330.2K
NOI $19,813 @ 7.0% cap · market cap 6.72%
Theoretical Best
Warehouse
$1.88M
$1.65M – $2.20M
NOI $131,820 @ 7.0% cap · market cap 44.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Explore this area
Business Placement
Demographics for 31405, GA
38,069
Population
16,809
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
31.2 sq mi
ZIP Area
1,220
Density / Sq Mi
$62,123
Median Household Income
$35,836
Median Earnings
$1,431
Median Rent
$304,800
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?
Duplex - A separate one-bedroom apartment includes a kitchenette and laundry alongside the two-bedroom main residence.
Where is this duplex located?
The property is located at 211 W 59th St Savannah, GA.
What is the asking price?
The asking price for this property is $294,900.
What are key features of this property?
This property features: 2,015‑square‑foot duplex built in 1938; Apartment has 1 bedroom, 1 bathroom, kitchenette, and washer and dryer; Main residence offers 2 bedrooms, 1.5 bathrooms, an eat‑in kitchen, and oversized laundry and utility room
