Fully Occupied
For Sale
$1,100,000
417 W 32nd St, Savannah, GA 31401
Two three-bedroom residences feature private outdoor spaces, en-suite bathrooms, and dedicated laundry rooms near downtown Savannah.
Property Size4,051 SF
Price / SF$271.54
Days on Market19
Property Features for 417 W 32nd St
General Information
Standard status
Active
Size
4,051 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Building Details
Year Built
2025
Listing Agency:
Next Move Real Estate LLC
(912) 657-4120
Listed By:
Julie M. Hales · License #282430
Source:
Thehomesourcegroupga
Added: Aug 12
Changed: Aug 29
Last Checked: Aug 25 at 5:39AM
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 Next Move Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 2025, this 4051-square-foot duplex contains two occupied residences, each with 3 bedrooms and 3 full bathrooms. Every bedroom has an en-suite bath, while both units include dedicated laundry rooms, stainless steel appliances, cabinetry, hard-surface countertops, upgraded lighting, and barn-door detailing in one bathroom. One residence adds a private balcony adjoining the kitchen; the other includes a front porch.
The property is located at 417 W 32nd St in Savannah, within walking distance of downtown restaurants, shops, and entertainment. SCAD is also located nearby. The two-unit configuration and existing occupancy provide a clearly defined residential income property profile, with layouts suited to residents seeking private bedroom accommodations and full bathrooms within each unit.
The property is located at 417 W 32nd St in Savannah, within walking distance of downtown restaurants, shops, and entertainment. SCAD is also located nearby. The two-unit configuration and existing occupancy provide a clearly defined residential income property profile, with layouts suited to residents seeking private bedroom accommodations and full bathrooms within each unit.
Key Highlights
- Two fully occupied units in a duplex built in 2025
- Each unit offers 3 bedrooms and 3 full bathrooms
- Total property size of 4051 square feet
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
$42,952
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
3.90%
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%
$859,040
$859.0K
Cap Rate 7%
$613,600
$613.6K
Cap Rate 9%
$477,244
$477.2K
Market Conditions
NOI Build-Up for 4,051 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
$65.6K $16.20/SF
− Vacancy
−$4.3K −$1.05/SF
EGI
$61.4K $15.15/SF
− OpEx
−$18.4K −$4.54/SF
NOI
$43.0K $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%
$859,040
Cap Rate 7%
$613,600
Cap Rate 9%
$477,244
Alternative Uses
Best Use
Multifamily LT 5
$613.6K
$536.9K – $715.9K
NOI $42,952 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$569.0K
$497.9K – $663.9K
NOI $39,833 @ 7.0% cap · market cap 3.62%
Theoretical Best
Warehouse
$3.79M
$3.31M – $4.42M
NOI $265,015 @ 7.0% cap · market cap 24.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,596
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 three-bedroom residences feature private outdoor spaces, en-suite bathrooms, and dedicated laundry rooms near downtown Savannah.
Where is this duplex located?
The property is located at 417 W 32nd St Savannah, GA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two fully occupied units in a duplex built in 2025; Each unit offers 3 bedrooms and 3 full bathrooms; Total property size of 4051 square feet
