Ranch-Style Residential Income
For Sale
$349,900
213 Chippewa Drive, Savannah, GA 31406
Commercial Sale, Savannah, GA
Property Size2,072 SF
Lot Size0.29 Acres
Price / SF$168.87
Days on Market115
Property Features for 213 Chippewa Drive
General Information
Property type
Commercial Sale
Property subtype
Single Family Residence
Zoning
R1
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 2
Appliances
Dishwasher, Electric Water Heater, Range, Refrigerator, Washer
Directions
From Interstate 95, take Exit 94 onto Abercorn Street toward Savannah, continue south, turn left onto Chippewa Drive, and follow it to 213 Chippewa Drive.
Standard status
Active
APN
2053101022
Size
2,072 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 31 AND EAST 50 FEET OF LOT 30 CHIPPEWA TERRACE ANNEX
Tax Annual Amount
4068
Legal Description
LOT 31 AND EAST 50 FEET OF LOT 30 CHIPPEWA TERRACE ANNEX
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1958
Floors in Building
1
Building materials
Brick
Architectural style
Ranch
Listing Agency:
eXp Realty LLC
(888) 959-9461
Listed By:
Kadeem A. Simon · License #434023
(912) 415-1520
Added: May 1
Changed: Aug 19
Last Checked: Aug 23 at 8:06PM
MLS# SA356014
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.
This for-sale ranch-style residential income property offers functional living space configured to support continued residential use, along with an additional income-producing structure currently associated with the site. The listing indicates existing income in place, making it suitable for an investor or owner-operator who wants to acquire a working residential asset. Buyer due diligence is required for zoning, licensing, permitted use, business operations, and the verification of income and expenses.
The property is located at 213 Chippewa Drive in Savannah, Georgia 31406, in Chatham County. Zoning is listed as R1. The lot size is approximately 0.29 acres, and the property size is listed at 2,072 square feet. Showings are by appointment only, and residents and staff should not be disturbed.
This offering may fit buyers looking for an owner-operator or investor strategy centered on maintaining and operating a residential asset with income already established. The seller notes potential paths for improved operations through the buyer’s management approach, but any intended repositioning must be validated through buyer-performed due diligence regarding permitted use and future plans. Financials and supporting documents may be available upon request for qualified buyers.
The property is located at 213 Chippewa Drive in Savannah, Georgia 31406, in Chatham County. Zoning is listed as R1. The lot size is approximately 0.29 acres, and the property size is listed at 2,072 square feet. Showings are by appointment only, and residents and staff should not be disturbed.
This offering may fit buyers looking for an owner-operator or investor strategy centered on maintaining and operating a residential asset with income already established. The seller notes potential paths for improved operations through the buyer’s management approach, but any intended repositioning must be validated through buyer-performed due diligence regarding permitted use and future plans. Financials and supporting documents may be available upon request for qualified buyers.
Key Highlights
- Brick ranch home built in 1958
- 4‑bedroom layout with 3 bathrooms
- Central heating and central A/C with electric systems
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
$20,374
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
5.82%
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%
$407,480
$407.5K
Cap Rate 7%
$291,057
$291.1K
Cap Rate 9%
$226,378
$226.4K
Market Conditions
NOI Build-Up for 2,072 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
$39.5K $19.08/SF
− Vacancy
−$2.5K −$1.20/SF
EGI
$37.0K $17.88/SF
− OpEx
−$16.7K −$8.05/SF
NOI
$20.4K $9.83/SF
Area
Savannah, GA
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$407,480
Cap Rate 7%
$291,057
Cap Rate 9%
$226,378
Alternative Uses
Best Use
Apartment 5plus
$291.1K
$254.7K – $339.6K
NOI $20,374 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.94M
$1.69M – $2.26M
NOI $135,549 @ 7.0% cap · market cap 38.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,995
Businesses Nearby
Explore this area
Business Placement
Demographics for 31406, GA
34,579
Population
15,424
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
26.2 sq mi
ZIP Area
1,320
Density / Sq Mi
$66,084
Median Household Income
$41,512
Median Earnings
$1,340
Median Rent
$260,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Ranch-style residential income property for sale in Savannah with existing rental operations and a second income-producing structure.
Where is this single family property located?
The property is located at 213 Chippewa Drive Savannah, GA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Brick ranch home built in 1958; 4‑bedroom layout with 3 bathrooms; Central heating and central A/C with electric systems
