Duplex with Updated
New
For Sale
$599,900
22 E 37th Street, Savannah, GA 31401
Savannah, GA
Property Size1,920 SF
Price / SF$312.45
Days on Market3
Property Features for 22 E 37th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 1
Subdivision
Thomas Square
Standard status
Active
Size
1,920 SF
Amenities
back deck
picket fence
secure rear fencing
Building Details
Year built
1900
Listing Agency:
Engel & Volkers Savannah · Engel & Völkers
(912) 238-0874
Listed By:
Jessica L. Kelly
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 6:06PM
MLS# SA366678
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.
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Investment Insights
Based on property information with market context.
Built in 1900, this 1,920-square-foot duplex contains two units, each arranged with two bedrooms and one bathroom. Improvements include a replacement roof, new HVAC systems, updated electrical components, and new plumbing beneath the house. Interior work brought new flooring to the lower unit, refreshed kitchens and tiled bathrooms, new appliances, and updated lighting. Exterior updates include repaired siding and paint, a rear deck with reinforced stairs and railing, and fencing at the front and rear. Three off-street parking spaces serve the property.
The property is at 22 E 37th Street in Savannah’s Thomas Square District, across from Common Thread and Elizabeth on 37th. The Bull Street Corridor, SCAD, coffee shops, and boutiques are also within walking distance. Zoning is TN-2.
The property is at 22 E 37th Street in Savannah’s Thomas Square District, across from Common Thread and Elizabeth on 37th. The Bull Street Corridor, SCAD, coffee shops, and boutiques are also within walking distance. Zoning is TN-2.
Key Highlights
- Duplex with two units, each offering 2 bedrooms and 1 bath
- 1,920 square feet; built in 1900
- Updated roof, HVAC systems, electrical components, and plumbing beneath the house
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,358
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,160
$407.2K
Cap Rate 7%
$290,829
$290.8K
Cap Rate 9%
$226,200
$226.2K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$31.1K $16.20/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$29.1K $15.15/SF
− OpEx
−$8.7K −$4.54/SF
NOI
$20.4K $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 Rate 5%
$407,160
Cap Rate 7%
$290,829
Cap Rate 9%
$226,200
Alternative Uses
Best Use
Multifamily LT 5
$290.8K
$254.5K – $339.3K
NOI $20,358 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$269.7K
$236.0K – $314.7K
NOI $18,879 @ 7.0% cap · market cap 3.15%
Theoretical Best
Warehouse
$1.79M
$1.57M – $2.09M
NOI $125,606 @ 7.0% cap · market cap 20.94%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,650
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer matching two-bedroom, one-bath layouts, with off-street parking for residents or visitors.
Where is this duplex located?
The property is located at 22 E 37th Street Savannah, GA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Duplex with two units, each offering 2 bedrooms and 1 bath; 1,920 square feet; built in 1900; Updated roof, HVAC systems, electrical components, and plumbing beneath the house
