Historic Duplex with Two
For Sale
$649,900
2313 Whitaker Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size2,128 SF
Lot Size0.08 Acres
Price / SF$305.40
Days on Market10
Property Features for 2313 Whitaker Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RIP
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 4, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 3
Parking features
Off Street
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Pull Down Attic Stairs, Fireplace
Fencing
Fenced, Privacy
Fireplace
1
Appliances
Some Electric Appliances, Dishwasher, Electric Water Heater, Microwave, Oven, Range, Dryer, Refrigerator, Washer
Subdivision
Solomns Ward
Lot features
City Lot, Historic District, Interior Lot
Directions
South on Whitaker, Property on right between 39th & 40th
Standard status
Active
APN
2006541006
Size
2,128 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 29 SOLOMONS WARD
Legal Description
LOT 29 SOLOMONS WARD
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1897
Floors in Building
2
Number of units
2
Flooring type
Wood, Tile - Ceramic, Tile, Hardwood
Building materials
Frame
Roof type
Metal
Architectural style
Victorian
Listing Agency:
Seabolt Real Estate
(912) 233-6609
Listed By:
Monica A. Gelok · License #262965
(912) 484-2132
Added: Sep 18
Changed: Sep 25
Last Checked: Sep 27 at 1:06PM
MLS# SA364433
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Victorian duplex contains 2,128 square feet on a 0.08-acre parcel and is currently fully rented. The first-floor residence includes 2 bedrooms and 1.5 baths, while the second-floor residence offers 2 bedrooms with 2 en-suite baths. Original heart pine flooring, custom tile showers, stainless appliances, granite countertops, historic windows and recreated period details are incorporated throughout. The property also includes central air, public water and public sewer, off-street parking, a porch, fencing and a metal roof.
A historic tax credit rehabilitation was completed in 2022, with new electrical, plumbing, insulation, fire-rated sheetrock and waste lines completed under permits and inspections. A tax freeze is in place through 2030. Approved plans for a rear carriage house and garage convey with the property. The duplex is located on Whitaker Street in Savannah’s Starland District, near Starland Yard and surrounding dining, shopping and entertainment. The property is being sold as is.
A historic tax credit rehabilitation was completed in 2022, with new electrical, plumbing, insulation, fire-rated sheetrock and waste lines completed under permits and inspections. A tax freeze is in place through 2030. Approved plans for a rear carriage house and garage convey with the property. The duplex is located on Whitaker Street in Savannah’s Starland District, near Starland Yard and surrounding dining, shopping and entertainment. The property is being sold as is.
Key Highlights
- 2,128‑square‑foot duplex on a 0.08‑acre parcel
- First‑floor unit: 2BR/1.5BA; second‑floor unit: 2BR with 2 en‑suite baths
- Fully rented historic property built in 1897
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
$22,563
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
3.47%
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%
$451,260
$451.3K
Cap Rate 7%
$322,329
$322.3K
Cap Rate 9%
$250,700
$250.7K
Market Conditions
NOI Build-Up for 2,128 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
$34.5K $16.20/SF
− Vacancy
−$2.2K −$1.05/SF
EGI
$32.2K $15.15/SF
− OpEx
−$9.7K −$4.54/SF
NOI
$22.6K $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%
$451,260
Cap Rate 7%
$322,329
Cap Rate 9%
$250,700
Alternative Uses
Best Use
Multifamily LT 5
$322.3K
$282.0K – $376.1K
NOI $22,563 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$298.9K
$261.6K – $348.7K
NOI $20,924 @ 7.0% cap · market cap 3.22%
Theoretical Best
Warehouse
$1.99M
$1.74M – $2.32M
NOI $139,213 @ 7.0% cap · market cap 21.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,465
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Fully rented two-story property with 2,128 square feet and a permitted rehabilitation completed in 2022.
Where is this duplex located?
The property is located at 2313 Whitaker Street Savannah, GA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 2,128‑square‑foot duplex on a 0.08‑acre parcel; First‑floor unit: 2BR/1.5BA; second‑floor unit: 2BR with 2 en‑suite baths; Fully rented historic property built in 1897
