Renovated Duplex with Fenced
For Sale
$450,000
Pending
2304 Reynolds Street, Savannah, GA 31401
Two four-bedroom units offer flexible owner-occupant or rental use, with outdoor space serving both levels.
Property Size2,444 SF
Days on Market122
Property Features for 2304 Reynolds Street
General Information
Standard status
Pending
Size
2,444 SF
Property subtype
Contingent
Zoning
R4
Units
Unit Mix
2 x 4BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,235
Amenities
front porch
back deck
private fenced yard
No
Yes
2
8
Washer Hookup,Dryer Hookup
Ceiling Fan(s)
Chain Link,Wood,Yard Fenced
Ceiling Fans,Refrigerator
City Lot
Public
0.078
1
Off Street,On Street
Asphalt
Deck
Block
Public Road
Building Details
Building Size
2,444 SF
Year Built
1920
Stories
2
Listing Agency:
SumnerBaird Sea Glass
(912) 233-6000
Listed By:
Danielle Drake
Source:
Baystreetrealtygroup
Added: Jun 16
Changed: Oct 11
Last Checked: Oct 14 at 9:48PM
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 SumnerBaird Sea Glass
Investment Insights
Based on property information with market context.
This 2,444-square-foot duplex contains two four-bedroom, one-bath units. The first-floor residence has undergone a recent renovation that includes a new bathroom, while the property also provides a front porch, rear deck, and privately fenced yard. The upper unit features its own front porch and has a renewed one-year lease.
Located at 2304 Reynolds St in Savannah, GA, the property has operated as a SCAD rental since its acquisition more than a decade ago. Its two-unit layout supports an owner-occupant arrangement or continued use as a residential income property, subject to applicable requirements.
Located at 2304 Reynolds St in Savannah, GA, the property has operated as a SCAD rental since its acquisition more than a decade ago. Its two-unit layout supports an owner-occupant arrangement or continued use as a residential income property, subject to applicable requirements.
Key Highlights
- 2,444 SF duplex with two 4‑bedroom, 1‑bath units
- First‑floor unit recently renovated with a brand‑new bathroom
- Upper unit includes a renewed one‑year lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,913
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,260
$518.3K
Cap Rate 7%
$370,186
$370.2K
Cap Rate 9%
$287,922
$287.9K
Market Conditions
NOI Build-Up for 2,444 SF
Gross rent
$39.6K $16.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$37.0K $15.15/SF
− OpEx
−$11.1K −$4.54/SF
NOI
$25.9K $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%
$518,260
Cap Rate 7%
$370,186
Cap Rate 9%
$287,922
Alternative Uses
Best Use
Multifamily LT 5
$370.2K
$323.9K – $431.9K
NOI $25,913 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$343.3K
$300.4K – $400.5K
NOI $24,032 @ 7.0% cap · market cap 5.34%
Theoretical Best
Warehouse
$2.28M
$2.00M – $2.66M
NOI $159,885 @ 7.0% cap · market cap 35.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,102
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two four-bedroom units offer flexible owner-occupant or rental use, with outdoor space serving both levels.
Where is this duplex located?
The property is located at 2304 Reynolds Street Savannah, GA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,444 SF duplex with two 4‑bedroom, 1‑bath units; First‑floor unit recently renovated with a brand‑new bathroom; Upper unit includes a renewed one‑year lease
