Duplex with Flexible Living
New
For Sale
$294,900
211 W 59th Street, Savannah, GA 31405
Savannah, GA
Property Size2,015 SF
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
2
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bedroom 2
Standard status
Active
Size
2,015 SF
Building Details
Year built
1938
Listing Agency:
Engel & Volkers Savannah · Engel & Völkers
(912) 238-0874
Listed By:
Jessica L. Kelly · License #270287
(912) 441-9101
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 27 at 2:06PM
MLS# SA365086
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.
Built in 1938, this 2,015-square-foot duplex is arranged as two living areas. The smaller unit has one bedroom, one bathroom, a kitchenette, and washer and dryer. The primary residence includes two bedrooms, one and a half bathrooms, an eat-in kitchen, and a laundry and utility room. An interior door allows the spaces to be joined as a single residence.
Outdoor features include a covered front porch and a yard with off-street parking. The property is in Savannah, with access to Hunter Army Airfield, hospitals, schools, shopping, and downtown.
Outdoor features include a covered front porch and a yard with off-street parking. The property is in Savannah, with access to Hunter Army Airfield, hospitals, schools, shopping, and downtown.
Key Highlights
- 2,015‑square‑foot property built in 1938
- Two living areas: a one‑bedroom apartment and a two‑bedroom primary residence
- Apartment includes a kitchenette, 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
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Cap Rate, Value Estimation, Potential NOI and more
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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 apartment and primary residence offer distinct living areas that can be connected through an interior doorway.
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: 2,015‑square‑foot property built in 1938; Two living areas: a one‑bedroom apartment and a two‑bedroom primary residence; Apartment includes a kitchenette, washer, and dryer
