Historic Triplex with Double
For Sale
$795,000
308 E Waldburg Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size3,656 SF
Lot Size0.11 Acres
Price / SF$217.45
Days on Market11
Property Features for 308 E Waldburg Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RM40
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 7, Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 1
Parking features
Off Street
Appliances
Electric Water Heater
Subdivision
White Ward
Lot features
Historic District
Directions
Waldburg between Lincoln and Habersham
Standard status
Active
APN
2004422016
Size
3,656 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
LOT 24 WHITE WARD
Legal Description
LOT 24 WHITE WARD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
original wood floors
decorative fireplaces
high ceilings
clawfoot tub
double front porches
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Listing Agency:
Seabolt Real Estate
(912) 233-6609
Listed By:
Taavo Roos · License #382783
(912) 429-6729
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 27 at 12:06PM
MLS# SA364808
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 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 details include wood flooring, decorative fireplaces, high ceilings, and a clawfoot tub. Double front porches add to the building’s historic character. Central heating and air conditioning serve the property, which has public water and sewer connections. The building is offered as is.
The 0.114-acre property is in Savannah’s Victorian District, with Forsyth Park, the Starland District, and Downtown Savannah described as minutes away. Three off-street parking spaces are on site.
The 0.114-acre property is in Savannah’s Victorian District, with Forsyth Park, the Starland District, and Downtown Savannah described as minutes away. Three off-street parking spaces are on site.
Key Highlights
- Three residences: 4‑bedroom/2‑bath, 2‑bedroom/1‑bath, and 1‑bedroom/1‑bath
- 3,656‑square‑foot triplex built in 1900
- 0.114‑acre lot with three off‑street parking spaces
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - RM40-zoned Savannah property combines three residences with dedicated off-street parking.
Where is this triplex located?
The property is located at 308 E Waldburg Street 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 residences: 4‑bedroom/2‑bath, 2‑bedroom/1‑bath, and 1‑bedroom/1‑bath; 3,656‑square‑foot triplex built in 1900; 0.114‑acre lot with three off‑street parking spaces
