Brick Duplex with Private
For Sale
$1,025,000
309 E 34th Street, Savannah, GA 31401
Two-unit brick duplex offering two bedrooms and laundry in each unit, plus a secure garage and private back porches.
Property Size2,952 SF
Price / SF$347.22
Days on Market133
Property Features for 309 E 34th Street
General Information
Standard status
Active
Size
2,952 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,758
Amenities
Hardwood,Tile
No
2
Yes
4
1 Common Wall
Scuttle
In Kitchen
Decorative
Ceiling Fan(s),Programmable Thermostat
Wood,Yard Fenced
Alarm-Smoke/Fire,Ceiling Fans,Dryer,Refrigerator,Washer
Alley,Back Yard,City Lot,Interior Lot,Level,Private,Sprinkler System
Public
0.14
5880
Detached,Garage,Garage Door Opener,Off Street,Rear/Side/Off Street
Asphalt
Courtyard,Deck,Landscape Lights
Brick/Mortar,Raised
Public Road
1
Public Maintained Road
Building Details
Building Size
2,952 SF
Year Built
1930
Buildings
1
Stories
2
Listing Agency:
Keller Williams Coastal Area P
(912) 233-6000
Listed By:
Lisa Snipes · License #392533
(678) 895-7069
Source:
Baystreetrealtygroup
Added: Apr 23
Changed: Sep 2
Last Checked: Sep 1 at 3:33PM
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.
Located at 309 E 34th Street, this brick duplex features two separate units, each offering two bedrooms and 1 1/2 bathrooms. Floor plans include a sunroom/office, large living and dining rooms, and spacious kitchens with laundry. Interior details noted in the public remarks include soaring ceilings and hardwood floors.
The property also includes a secure garage and private back porches. Public remarks describe the duplex as walkable to the Savannah College of Art and Design and positioned near a business and tourist district.
The property also includes a secure garage and private back porches. Public remarks describe the duplex as walkable to the Savannah College of Art and Design and positioned near a business and tourist district.
Key Highlights
- Two‑unit brick duplex built in 1930 with 2 stories and 1 common wall
- Each unit features 2 bedrooms and 1.5 bathrooms, plus a sunroom/office and large living and dining areas
- Hardwood and tile flooring throughout, with a decorative fireplace and ceiling fans
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
$31,300
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
3.05%
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%
$626,000
$626.0K
Cap Rate 7%
$447,143
$447.1K
Cap Rate 9%
$347,778
$347.8K
Market Conditions
NOI Build-Up for 2,952 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
$47.8K $16.20/SF
− Vacancy
−$3.1K −$1.05/SF
EGI
$44.7K $15.15/SF
− OpEx
−$13.4K −$4.54/SF
NOI
$31.3K $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%
$626,000
Cap Rate 7%
$447,143
Cap Rate 9%
$347,778
Alternative Uses
Best Use
Multifamily LT 5
$447.1K
$391.3K – $521.7K
NOI $31,300 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$414.7K
$362.8K – $483.8K
NOI $29,027 @ 7.0% cap · market cap 2.83%
Theoretical Best
Warehouse
$2.76M
$2.41M – $3.22M
NOI $193,118 @ 7.0% cap · market cap 18.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,691
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 - Two-unit brick duplex offering two bedrooms and laundry in each unit, plus a secure garage and private back porches.
Where is this duplex located?
The property is located at 309 E 34th Street Savannah, GA.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Two‑unit brick duplex built in 1930 with 2 stories and 1 common wall; Each unit features 2 bedrooms and 1.5 bathrooms, plus a sunroom/office and large living and dining areas; Hardwood and tile flooring throughout, with a decorative fireplace and ceiling fans
