Two-Unit Duplex with Bungalow
New
For Sale
$294,900
211 W 59th Street, Savannah, GA 31405
Residential Income, Savannah, GA
Property Size2,015 SF
Lot Size0.12 Acres
Price / SF$146.35
Days on Market4
Property Features for 211 W 59th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3
Parking features
Garage, Off Street
Patio and Porch features
Porch
Interior features
Ceiling Fan(s)
Fireplace
1
Appliances
Some Electric Appliances, Electric Water Heater, Oven, Range, Dryer, Refrigerator, Washer
Lot features
City Lot
Directions
Bull Street South, R on 59th street
Standard status
Active
APN
2-0093-25-011
Size
2,015 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
19 & 20 BLK K Hitch Ward
Legal Description
19 & 20 BLK K Hitch Ward
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1938
Floors in Building
1
Number of units
2
Flooring type
Carpet, Tile
Building materials
Frame
Roof type
Asphalt
Architectural style
Bungalow
Listing Agency:
Engel & Volkers
(912) 238-0874
Listed By:
Jessica L. Kelly · License #270287
(912) 441-9101
Added: Sep 24
Changed: Sep 25
Last Checked: Sep 27 at 1:06PM
MLS# SA365086
Copyright © 2026 Hive MLS. 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.
Built in 1938, this 2,015-square-foot duplex is arranged as a two-bedroom, one-and-a-half-bath main residence and a separate one-bedroom, one-bath apartment. The apartment has a kitchenette and its own washer and dryer; the main home includes an eat-in kitchen and an oversized laundry and utility room. An interior door allows the two spaces to be joined. The property also features a front porch, a large yard, off-street parking, and a garage.
The 0.124-acre property is in Savannah, with access to Hunter Army Airfield, hospitals, schools, shopping, and downtown Savannah.
The 0.124-acre property is in Savannah, with access to Hunter Army Airfield, hospitals, schools, shopping, and downtown Savannah.
Key Highlights
- Two living spaces: a two‑bedroom, 1.5‑bath main home and a one‑bedroom, one‑bath apartment
- 2,015 square feet on a 0.124‑acre lot
- Apartment includes a kitchenette and washer and dryer
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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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - A one-bedroom apartment with kitchenette sits alongside a two-bedroom main residence.
Where is this duplex located?
The property is located at 211 W 59th Street 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: Two living spaces: a two‑bedroom, 1.5‑bath main home and a one‑bedroom, one‑bath apartment; 2,015 square feet on a 0.124‑acre lot; Apartment includes a kitchenette and washer and dryer
