Duplex with En-Suite
For Sale
$1,100,000
417 W 32nd Street, Savannah, GA 31401
MULTI_FAMILY - Savannah, GA
Property Size4,051 SF
Lot Size0.09 Acres
Price / SF$271.54
Days on Market8
Property Features for 417 W 32nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
BC
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 6, Bathroom 3, Bathroom 2, Bathroom 4, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 5, Bathroom 6, Bedroom 1
Appliances
Electric Water Heater
Subdivision
Meldrim Ward
Directions
Take I16 East to Savannah to 37th street, turn right on 37th and Abercorn, left on W 37th, left on MLK, right on 32nd, 417 is on the right
Standard status
Active
APN
2006616009
Size
4,051 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
EAST HALF OF WEST HALF OF LOT 7 MELDRIM WARD
Tax Annual Amount
9759
Legal Description
EAST HALF OF WEST HALF OF LOT 7 MELDRIM WARD
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2025
Floors in Building
2
Listing Agency:
Next Move Real Estate LLC
(912) 295-5807
Listed By:
Julie M. Hales · License #282430
(912) 657-4120
Added: Aug 4
Changed: Aug 10
Last Checked: Aug 11 at 11:06PM
MLS# SA361942
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 duplex contains two occupied residences within a 4,051-square-foot property on 0.093 acres. Each unit includes 3 bedrooms and 3 full bathrooms, with every bedroom paired with its own en-suite bath. Interior features include stainless steel appliances, cabinetry, hard-surface countertops, upgraded lighting, and dedicated laundry rooms. One bathroom includes a barn door accent.
The upper residence has a private balcony adjoining the kitchen, while the lower residence includes a front porch. Built in 2025, the property is located at 417 W 32nd Street in Savannah, near downtown restaurants, shops, entertainment, and SCAD. The property is zoned BC and served by public water and public sewer, with central heating and cooling.
The upper residence has a private balcony adjoining the kitchen, while the lower residence includes a front porch. Built in 2025, the property is located at 417 W 32nd Street in Savannah, near downtown restaurants, shops, entertainment, and SCAD. The property is zoned BC and served by public water and public sewer, with central heating and cooling.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 3 full bathrooms in each residence
- 4,051 square feet on a 0.093‑acre lot
- Built in 2025 with both units fully occupied
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,699
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 occupied residences provide private en-suite bathrooms, laundry rooms, and contemporary interior finishes.
Where is this duplex located?
The property is located at 417 W 32nd Street 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‑unit duplex with 3 bedrooms and 3 full bathrooms in each residence; 4,051 square feet on a 0.093‑acre lot; Built in 2025 with both units fully occupied
