Building Details

Buildings 1

Listing Agency: Engel & Volkers Show Phone

Listed By: Jessica L. Kelly · License #270287 Show Phone

Source: Exprealty

Added: Oct 14 Changed: Oct 16 Last Checked: Oct 16 at 2:14PM

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Investment Insights

Based on property information with market context.

Built circa 1900, this four-unit apartment property contains 5,688 square feet on a .15-acre lot. The unit mix includes three 3-bedroom, 1-bathroom apartments and one 2-bedroom, 1-bathroom apartment. Front and rear entrances, off-street parking, and separate utility metering serve the property. Exterior painting was completed in 2024, and the building has received ongoing maintenance and improvements.

The property is in Savannah’s Victorian District, a few blocks from Forsyth Park, and near SCAD, restaurants, and shopping. Three apartments are leased, with the remaining unit vacant.

Key Highlights

• Four apartments totaling 5,688 square feet on a .15‑acre lot
• Unit mix: three 3BD/1BA apartments and one 2BD/1BA apartment
• Three units leased; one unit vacant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$60,309

Cap Rate

4.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,206,180 $1.2M

Cap Rate 7%

$861,557 $861.6K

Cap Rate 9%

$670,100 $670.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,688 SF

Gross rent

$92.1K $16.20/SF

− Vacancy

−$6.0K −$1.05/SF

EGI

$86.2K $15.15/SF

− OpEx

−$25.8K −$4.54/SF

NOI

$60.3K $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 Rate 5%

$1,206,180

Cap Rate 7%

$861,557

Cap Rate 9%

$670,100

Alternative Uses

Best Use

Multifamily LT 5

$861.6K

$753.9K – $1.01M (±1% cap)

NOI $60,309 @ 7.0% cap · market cap 4.31%

Second Best

Apartment 5plus

$799.0K

$699.1K – $932.2K (±1% cap)

NOI $55,929 @ 7.0% cap · market cap 3.99%

Theoretical Best

Warehouse

$5.32M

$4.65M – $6.20M (±1% cap)

NOI $372,106 @ 7.0% cap · market cap 26.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Plumbing Service HVAC Service Electrical Service Pet Grooming Service Locksmith Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

75%

Occupancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1,760

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Three apartments are leased, and one is vacant; each unit has separate utility metering.

Where is this quadplex located?

The property is located at 404 Duffy St Savannah, GA.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: Four apartments totaling 5,688 square feet on a .15‑acre lot; Unit mix: three 3BD/1BA apartments and one 2BD/1BA apartment; Three units leased; one unit vacant