Historic Duplex with
For Sale
$575,000
218 W Anderson St, Savannah, GA 31401
Two-unit Victorian property with updated upper-level kitchen and bathroom, shared gated courtyard, and off-street parking.
Property Size2,202 SF
Price / SF$261.13
Days on Market22
Property Features for 218 W Anderson St
General Information
Standard status
Active
Size
2,202 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Road Access
Yes
Amenities
courtyard
gated access
rear decks
firepit
loft ladder
Building Details
Buildings
1
Stories
3
Construction
Victorian
Tenancy
Multi
Listing Agency:
Jenny Rutherford Real Estate
(912) 414-7155
Listed By:
Jennifer L. Rutherford · License #343627
(912) 414-7155
Source:
Exprealty
Added: Jul 24
Changed: Aug 2
Last Checked: Aug 14 at 10:32AM
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 Jenny Rutherford Real Estate
Investment Insights
Based on property information with market context.
This late-19th-century Victorian duplex contains 2,202 square feet across two units with a combined 5BR/2BA layout. The upper residence offers 3BR/1BA, a refreshed kitchen and bathroom, stainless steel appliances, and a gas cooking stove. A loft ladder behind a concealed door leads to a third-floor bonus room that can serve as additional living or creative space. Both units feature wood-look linoleum flooring, while new rear stairs and decks provide exterior improvements.
Access is available from W Anderson St and the courtyard. The property includes a shared gated courtyard with parking-lane and Anderson Street access, plus 2 off-street parking spots. It is within walking distance of SCAD buildings and Forsyth Park, with Broughton Street and the Historic District approximately a 10-minute walk away. The lower unit is tenant occupied, with its lease expiring in August.
Access is available from W Anderson St and the courtyard. The property includes a shared gated courtyard with parking-lane and Anderson Street access, plus 2 off-street parking spots. It is within walking distance of SCAD buildings and Forsyth Park, with Broughton Street and the Historic District approximately a 10-minute walk away. The lower unit is tenant occupied, with its lease expiring in August.
Key Highlights
- 2,202 Sqft Victorian duplex with 2 units and a 5BR/2BA configuration
- Upper unit includes 3BR/1BA, updated kitchen and bathroom, stainless steel appliances, and gas cooking stove
- Third‑floor bonus room accessed by loft ladder through a concealed door
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
$23,348
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
4.06%
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%
$466,960
$467.0K
Cap Rate 7%
$333,543
$333.5K
Cap Rate 9%
$259,422
$259.4K
Market Conditions
NOI Build-Up for 2,202 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
$35.7K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$33.4K $15.15/SF
− OpEx
−$10.0K −$4.54/SF
NOI
$23.3K $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%
$466,960
Cap Rate 7%
$333,543
Cap Rate 9%
$259,422
Alternative Uses
Best Use
Multifamily LT 5
$333.5K
$291.9K – $389.1K
NOI $23,348 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$309.3K
$270.7K – $360.9K
NOI $21,652 @ 7.0% cap · market cap 3.77%
Theoretical Best
Warehouse
$2.06M
$1.80M – $2.40M
NOI $144,054 @ 7.0% cap · market cap 25.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,699
Businesses Nearby
Explore this area
Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
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 - Two-unit Victorian property with updated upper-level kitchen and bathroom, shared gated courtyard, and off-street parking.
Where is this duplex located?
The property is located at 218 W Anderson St Savannah, GA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,202 Sqft Victorian duplex with 2 units and a 5BR/2BA configuration; Upper unit includes 3BR/1BA, updated kitchen and bathroom, stainless steel appliances, and gas cooking stove; Third‑floor bonus room accessed by loft ladder through a concealed door
