Historic Three-Unit
New
For Sale
$795,000
308 E Waldburg St, Savannah, GA 31401
Three separate residences offer a range of bedroom configurations in Savannah’s Victorian District.
Property Size3,656 SF
Price / SF$217.45
Days on Market2
Property Features for 308 E Waldburg St
General Information
Standard status
Active
Size
3,656 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
make thoughtful updates
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Amenities
original wood floors
decorative fireplaces
high ceilings
clawfoot tub
double front porches
Building Details
Year Built
1900
Listing Agency:
Seabolt Real Estate
Listed By:
Taavo Roos · License #382783
(912) 429-6729
Source:
Southeastgahomesearch
Added: Sep 26
Last Checked: Sep 26 at 3:19PM
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 Seabolt Real Estate
Investment Insights
Based on property information with market context.
Built in 1900, this 3,656-square-foot triplex contains three residences: a four-bedroom, two-bath unit, a two-bedroom, one-bath unit, and a one-bedroom, one-bath unit. Interior features include original wood floors, decorative fireplaces, high ceilings, a clawfoot tub, and double front porches. The property is being sold as is and offers an opportunity for updates.
The building sits in Savannah’s Victorian District, minutes from Forsyth Park, the Starland District, and Downtown Savannah. The lot includes three off-street parking spaces.
The building sits in Savannah’s Victorian District, minutes from Forsyth Park, the Starland District, and Downtown Savannah. The lot includes three off-street parking spaces.
Key Highlights
- Three‑unit triplex totaling 3,656 square feet
- Unit mix: one 4‑bedroom, 2‑bath residence; one 2‑bedroom, 1‑bath residence; one 1‑bedroom, 1‑bath residence
- Built in 1900
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
$38,764
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
4.88%
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%
$775,280
$775.3K
Cap Rate 7%
$553,771
$553.8K
Cap Rate 9%
$430,711
$430.7K
Market Conditions
NOI Build-Up for 3,656 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
$59.2K $16.20/SF
− Vacancy
−$3.8K −$1.05/SF
EGI
$55.4K $15.15/SF
− OpEx
−$16.6K −$4.54/SF
NOI
$38.8K $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%
$775,280
Cap Rate 7%
$553,771
Cap Rate 9%
$430,711
Alternative Uses
Best Use
Multifamily LT 5
$553.8K
$484.6K – $646.1K
NOI $38,764 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$513.6K
$449.4K – $599.2K
NOI $35,949 @ 7.0% cap · market cap 4.52%
Theoretical Best
Warehouse
$3.42M
$2.99M – $3.99M
NOI $239,174 @ 7.0% cap · market cap 30.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,849
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Three separate residences offer a range of bedroom configurations in Savannah’s Victorian District.
Where is this triplex located?
The property is located at 308 E Waldburg St Savannah, GA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Three‑unit triplex totaling 3,656 square feet; Unit mix: one 4‑bedroom, 2‑bath residence; one 2‑bedroom, 1‑bath residence; one 1‑bedroom, 1‑bath residence; Built in 1900
