Historic
For Sale
$995,000
301 301-303 E Henry St, Savannah, GA 31401
Fully occupied residential income property with recent roof, flooring, and interior improvements.
Property Size5,016 SF
Price / SF$198.37
Days on Market13
Property Features for 301 301-303 E Henry St
General Information
Standard status
Active
Size
5,016 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Coastal Area P
(912) 433-1072
Listed By:
Brandon Fargo · License #416596
Source:
Patrickrealestate
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 25 at 5:17AM
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.
The property at 301–303 E Henry St is a historic quadplex built in 1900, containing four 2BR/1BA residential units within 5,016 SF. Recent improvements include a new roof, updated flooring, and additional interior work. The building is currently fully occupied, providing an established rental profile in Downtown Savannah.
Located near SCAD in Savannah, the property places four residential units within the city’s Downtown area. Its unit configuration, recent building updates, and zero-vacancy status provide a clear operating profile for multifamily ownership.
Located near SCAD in Savannah, the property places four residential units within the city’s Downtown area. Its unit configuration, recent building updates, and zero-vacancy status provide a clear operating profile for multifamily ownership.
Key Highlights
- Four 2BR/1BA units totaling 5,016 SF
- Built in 1900 and located in Downtown Savannah
- 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
1,727
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied residential income property with recent roof, flooring, and interior improvements.
Where is this quadplex located?
The property is located at 301 301-303 E Henry St 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 and located in Downtown Savannah; New roof, updated flooring, and interior improvements
