Victorian
New
For Sale
$685,000
309 W 33rd Street, Savannah, GA 31401
MULTI_FAMILY - Victorian - Savannah, GA
Property Size2,818 SF
Lot Size0.11 Acres
Price / SF$243.08
Days on Market5
Property Features for 309 W 33rd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Single Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 3, Bathroom 2, Bathroom 4, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 1
Parking features
Garage, Parking Lot, On Street, Off Street
Patio and Porch features
Porch, Deck
Interior features
Pull Down Attic Stairs
Exterior features
Deck
Fencing
Privacy, Fenced
Fireplace
1
Appliances
Some Electric Appliances, Dishwasher, Gas Water Heater, Microwave, Oven, Range, Refrigerator
Lot features
Alley, City Lot, Interior Lot
Directions
From Downtown Savannah, head south on Bull St. Continue approximately 2.5 miles. Turn right onto W 33rd St. The property will be on your right.
Standard status
Active
APN
2-0066-26-010
Size
2,818 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
EAST 10 FEET OF LOT 47 AND WEST 30 FEET OF LOT 48 LESTER WAR D
Tax Annual Amount
8298
Legal Description
EAST 10 FEET OF LOT 47 AND WEST 30 FEET OF LOT 48 LESTER WAR D
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Amenities
laundry
fireplaces
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Wood Siding
Roof type
Asphalt
Architectural style
Victorian
Listing Agency:
Six Bricks LLC
(912) 200-9044
Listed By:
Chelsea Phillips · License #349197
(912) 332-0465
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 11 at 11:06PM
MLS# SA362250
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.
This 2,818-square-foot Victorian duplex was built in 1900 and includes two 3-bedroom, 2-bath residences. Each unit has defined living space, a full kitchen, laundry area, and generously sized bedrooms. Interior character includes original transoms, detailed moldings, high ceilings, and fireplaces, while the four bathrooms feature tiled showers or tubs and refreshed vanities. A deck, porch, fenced areas, garage, and additional parking options support the property’s functionality.
Located at 309 W 33rd Street in Savannah, the property is within minutes of SCAD, Forsyth Park, Starland Yard, shopping, and local cafes. Public water and public sewer serve the duplex. The layout also provides the stated potential for conversion to a single-family residence, subject to applicable requirements.
Located at 309 W 33rd Street in Savannah, the property is within minutes of SCAD, Forsyth Park, Starland Yard, shopping, and local cafes. Public water and public sewer serve the duplex. The layout also provides the stated potential for conversion to a single-family residence, subject to applicable requirements.
Key Highlights
- 2,818‑square‑foot Victorian duplex built in 1900
- Two 3‑bedroom, 2‑bath units with full kitchens and laundry areas
- Original transoms, moldings, high ceilings, and fireplaces
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
$29,879
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
4.36%
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%
$597,580
$597.6K
Cap Rate 7%
$426,843
$426.8K
Cap Rate 9%
$331,989
$332.0K
Market Conditions
NOI Build-Up for 2,818 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
$45.7K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$42.7K $15.15/SF
− OpEx
−$12.8K −$4.54/SF
NOI
$29.9K $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%
$597,580
Cap Rate 7%
$426,843
Cap Rate 9%
$331,989
Alternative Uses
Best Use
Multifamily LT 5
$426.8K
$373.5K – $498.0K
NOI $29,879 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$395.8K
$346.4K – $461.8K
NOI $27,709 @ 7.0% cap · market cap 4.05%
Theoretical Best
Warehouse
$2.63M
$2.30M – $3.07M
NOI $184,352 @ 7.0% cap · market cap 26.91%
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
1,757
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 well-configured residences offer separate living areas, kitchens, laundry facilities, and spacious bedrooms.
Where is this duplex located?
The property is located at 309 W 33rd Street Savannah, GA.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: 2,818‑square‑foot Victorian duplex built in 1900; Two 3‑bedroom, 2‑bath units with full kitchens and laundry areas; Original transoms, moldings, high ceilings, and fireplaces
