Updated Duplex with Efficiency
For Sale
$340,000
2301 Alaska St, Savannah, GA 31404
Three-bedroom primary residence with an attached efficiency unit supports flexible living, guest, office, or rental arrangements.
Property Size1,451 SF
Price / SF$234.32
Days on Market192
Property Features for 2301 Alaska St
General Information
Standard status
Active
Size
1,451 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1912
Listing Agency:
Century 21 Solomon Properties
(912) 604-0896
Listed By:
Joel Solomon · License #349031
Source:
Searchgreateraugustahomes
Added: Feb 4
Changed: Aug 14
Last Checked: Aug 14 at 8:09AM
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 Century 21 Solomon Properties
Investment Insights
Based on property information with market context.
This updated duplex-style property combines a three-bedroom, one-bath main residence with an attached one-bedroom, one-bath efficiency unit. Recent improvements include new flooring, fresh interior paint, and a comprehensively renovated interior. The secondary unit can serve as guest accommodations, a home office, additional household space, or a separate rental arrangement.
The property is located in Savannah, approximately 5 minutes from Historic Downtown Savannah and 15 minutes from Tybee Island beaches. Shopping, dining, employment, and entertainment destinations are nearby, with several area destinations accessible by bicycle. Built in 1912, the home also includes outdoor space suitable for relaxation and entertaining.
The property is located in Savannah, approximately 5 minutes from Historic Downtown Savannah and 15 minutes from Tybee Island beaches. Shopping, dining, employment, and entertainment destinations are nearby, with several area destinations accessible by bicycle. Built in 1912, the home also includes outdoor space suitable for relaxation and entertaining.
Key Highlights
- Three‑bedroom, one‑bath main residence
- Attached one‑bedroom, one‑bath efficiency unit
- New flooring and fresh interior paint
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
$15,385
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
4.52%
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%
$307,700
$307.7K
Cap Rate 7%
$219,786
$219.8K
Cap Rate 9%
$170,944
$170.9K
Market Conditions
NOI Build-Up for 1,451 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
$23.5K $16.20/SF
− Vacancy
−$1.5K −$1.05/SF
EGI
$22.0K $15.15/SF
− OpEx
−$6.6K −$4.54/SF
NOI
$15.4K $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%
$307,700
Cap Rate 7%
$219,786
Cap Rate 9%
$170,944
Alternative Uses
Best Use
Multifamily LT 5
$219.8K
$192.3K – $256.4K
NOI $15,385 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$203.8K
$178.4K – $237.8K
NOI $14,268 @ 7.0% cap · market cap 4.20%
Theoretical Best
Warehouse
$1.36M
$1.19M – $1.58M
NOI $94,924 @ 7.0% cap · market cap 27.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 31404, GA
31,530
Population
14,427
Households
2.2
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$49,805
Median Household Income
$31,620
Median Earnings
$1,199
Median Rent
$193,100
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 - Three-bedroom primary residence with an attached efficiency unit supports flexible living, guest, office, or rental arrangements.
Where is this duplex located?
The property is located at 2301 Alaska St Savannah, GA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Three‑bedroom, one‑bath main residence; Attached one‑bedroom, one‑bath efficiency unit; New flooring and fresh interior paint
