Renovating Duplex with Two
For Sale
$350,000
2410 Jefferson St, Savannah, GA 31401
Duplex features two 2-bedroom, 1-bath units with partial renovations and zoned TN-1 flexibility.
Property Size1,716 SF
Price / SF$203.96
Days on Market68
Property Features for 2410 Jefferson St
General Information
Standard status
Active
Size
1,716 SF
Property subtype
Multi-Family
Zoning
TN-1
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Keller Williams Coastal Area P
Listed By:
Brandon Fargo · License #416596
(912) 433-1072
Source:
Searchgreateraugustahomes
Added: Jul 1
Changed: Sep 1
Last Checked: Sep 5 at 8:54AM
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 Keller Williams Coastal Area P
Investment Insights
Based on property information with market context.
This duplex offers two separate residential units, each configured as 2-bedroom, 1-bath. The property includes approximately 1,716 square feet of living space and has undergone partial renovations, providing a foundation for the next owner to complete the improvements.
The property is located in Savannah’s Starland District within the Historic Streetcar Corridor. It is zoned TN-1, which allows for flexible options based on applicable local requirements.
As a two-unit income property, the layout supports multiple living arrangements within the same building while the renovation work is already underway in part. Buyers and investors can assess the remaining scope and finish the project to their preferred specifications.
The property is located in Savannah’s Starland District within the Historic Streetcar Corridor. It is zoned TN-1, which allows for flexible options based on applicable local requirements.
As a two-unit income property, the layout supports multiple living arrangements within the same building while the renovation work is already underway in part. Buyers and investors can assess the remaining scope and finish the project to their preferred specifications.
Key Highlights
- Duplex built in 1920 with two 2‑bedroom, 1‑bath units.
- Approximately 1,716 sq ft of living space across the two units.
- Zoned TN‑1, offering flexible options for the property.
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
$18,195
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
5.20%
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%
$363,900
$363.9K
Cap Rate 7%
$259,929
$259.9K
Cap Rate 9%
$202,167
$202.2K
Market Conditions
NOI Build-Up for 1,716 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
$27.8K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$26.0K $15.15/SF
− OpEx
−$7.8K −$4.54/SF
NOI
$18.2K $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%
$363,900
Cap Rate 7%
$259,929
Cap Rate 9%
$202,167
Alternative Uses
Best Use
Multifamily LT 5
$259.9K
$227.4K – $303.3K
NOI $18,195 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$241.0K
$210.9K – $281.2K
NOI $16,873 @ 7.0% cap · market cap 4.82%
Theoretical Best
Warehouse
$1.60M
$1.40M – $1.87M
NOI $112,260 @ 7.0% cap · market cap 32.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
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 - Duplex features two 2-bedroom, 1-bath units with partial renovations and zoned TN-1 flexibility.
Where is this duplex located?
The property is located at 2410 Jefferson St Savannah, GA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Duplex built in 1920 with two 2‑bedroom, 1‑bath units.; Approximately 1,716 sq ft of living space across the two units.; Zoned TN‑1, offering flexible options for the property.
