Four-Unit Historic Multifamily
For Sale
$995,000
301-303 E Henry Street, Savannah, GA 31401
MULTI_FAMILY - Savannah, GA
Property Size5,016 SF
Lot Size0.12 Acres
Price / SF$198.37
Days on Market128
Property Features for 301-303 E Henry Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RBC
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 6, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 4, Bedroom 5, Bedroom 7, Bathroom 2, Bedroom 8
Appliances
Gas Water Heater
Subdivision
White Ward
Directions
From Truman Parkway, take the exit toward President Street/Downtown and follow signs toward East Broad Street. Turn onto E Henry Street, where the property is situated at 301-303 E Henry St near SCAD.
Standard status
Active
APN
2005312010
Size
5,016 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 74 WHITE WD PRB 10P 184
Tax Annual Amount
11535
Legal Description
LOT 74 WHITE WD PRB 10P 184
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Building materials
Frame
Listing Agency:
Keller Williams Coastal Area P · Keller Williams Realty
(912) 356-5001
Listed By:
Brandon Fargo · License #416596
(912) 433-1072
Added: Apr 6
Changed: Aug 10
Last Checked: Aug 11 at 8:06PM
MLS# SA354343
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.
Built in 1900, this 5,016-square-foot multifamily property contains four two-bedroom, one-bath residences. Recent work includes a new roof, updated flooring, and interior improvements. The building has frame construction, central natural-gas heat, central electric air conditioning, a gas water heater, public water, and public sewer. The property sits on a 0.12-acre lot and carries RBC zoning.
Located at 301-303 E Henry Street in Savannah’s Downtown area, the property is near SCAD and within Historic Downtown Savannah. All four units are occupied, providing an established in-place rental operation. The asset combines a historic building profile with updated components and a four-unit configuration suited to multifamily ownership.
Located at 301-303 E Henry Street in Savannah’s Downtown area, the property is near SCAD and within Historic Downtown Savannah. All four units are occupied, providing an established in-place rental operation. The asset combines a historic building profile with updated components and a four-unit configuration suited to multifamily ownership.
Key Highlights
- Four 2BR/1BA units totaling 5,016 SF
- Built in 1900 on a 0.12‑acre lot
- New roof, updated flooring, and interior improvements
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
$53,184
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
5.35%
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%
$1,063,680
$1.1M
Cap Rate 7%
$759,771
$759.8K
Cap Rate 9%
$590,933
$590.9K
Market Conditions
NOI Build-Up for 5,016 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
$81.3K $16.20/SF
− Vacancy
−$5.3K −$1.05/SF
EGI
$76.0K $15.15/SF
− OpEx
−$22.8K −$4.54/SF
NOI
$53.2K $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%
$1,063,680
Cap Rate 7%
$759,771
Cap Rate 9%
$590,933
Alternative Uses
Best Use
Multifamily LT 5
$759.8K
$664.8K – $886.4K
NOI $53,184 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$704.6K
$616.5K – $822.0K
NOI $49,322 @ 7.0% cap · market cap 4.96%
Theoretical Best
Warehouse
$4.69M
$4.10M – $5.47M
NOI $328,144 @ 7.0% cap · market cap 32.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,759
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?
Quadplex - Four two-bedroom, one-bath residences include recent roof, flooring, and interior improvements.
Where is this quadplex located?
The property is located at 301-303 E Henry Street Savannah, GA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Four 2BR/1BA units totaling 5,016 SF; Built in 1900 on a 0.12‑acre lot; New roof, updated flooring, and interior improvements
