Brick
New
For Sale
$750,000
219 E 56th St, Savannah, GA 31405
Two leased residences offer distinct two-bedroom and four-bedroom layouts.
Property Size3,687 SF
Lot Size0.16 Acres
Price / SF$203.42
Days on Market7
Property Features for 219 E 56th St
General Information
Standard status
Active
Size
3,687 SF
Lot size
0.16 Acres
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
Ardsley Park/Chatham Crescent
Units
Unit Mix
1 x 2BR/1BA, 1 x 4BR/2BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1935
Buildings
1
Tenancy
Multi
Listing Agency:
Serhant Georgia LLC
Listed By:
Matthew D. Myles · License #441309
(912) 944-9955
Source:
Augustaaikenhomefinder
Added: Oct 23
Changed: Oct 28
Last Checked: Oct 28 at 9:01AM
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 Serhant Georgia LLC
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Investment Insights
Based on property information with market context.
Built in 1935, this brick duplex contains two residences: a 2-bedroom, 1-bath unit and a 4-bedroom, 2-bath unit. Both are leased, with the first lease ending in December 2026 and the second in August 2027. HVAC equipment and water heaters have been replaced recently. The property occupies a 0.16-acre lot with off-street parking.
The home is in Savannah’s Ardmore area, within walking distance of Hull Park, Daffin Park, Savannah Arts Academy, and Habersham Village. Forsyth Park, downtown’s Historic District, the Starland District, and SCAD are described as minutes away.
The home is in Savannah’s Ardmore area, within walking distance of Hull Park, Daffin Park, Savannah Arts Academy, and Habersham Village. Forsyth Park, downtown’s Historic District, the Starland District, and SCAD are described as minutes away.
Key Highlights
- Two residences: 2 bedrooms/1 bath and 4 bedrooms/2 baths
- Both units are leased; lease expirations are December 2026 and August 2027
- 0.16‑acre lot with off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,093
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$781,860
$781.9K
Cap Rate 7%
$558,471
$558.5K
Cap Rate 9%
$434,367
$434.4K
Market Conditions
NOI Build-Up for 3,687 SF
Gross rent
$59.7K $16.20/SF
− Vacancy
−$3.9K −$1.05/SF
EGI
$55.8K $15.15/SF
− OpEx
−$16.8K −$4.54/SF
NOI
$39.1K $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 Rate 5%
$781,860
Cap Rate 7%
$558,471
Cap Rate 9%
$434,367
Alternative Uses
Best Use
Multifamily LT 5
$558.5K
$488.7K – $651.6K
NOI $39,093 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$517.9K
$453.2K – $604.2K
NOI $36,254 @ 7.0% cap · market cap 4.83%
Theoretical Best
Warehouse
$3.45M
$3.02M – $4.02M
NOI $241,202 @ 7.0% cap · market cap 32.16%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Duplex - Two leased residences offer distinct two-bedroom and four-bedroom layouts.
Where is this duplex located?
The property is located at 219 E 56th St Savannah, GA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two residences: 2 bedrooms/1 bath and 4 bedrooms/2 baths; Both units are leased; lease expirations are December 2026 and August 2027; 0.16‑acre lot with off‑street parking
