Three-Bedroom Duplex with
For Sale
$1,100,000
417 W 32nd Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size4,051 SF
Lot Size0.09 Acres
Price / SF$271.54
Days on Market28
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 4, Bedroom 3, Bathroom 1, Bathroom 5, Bathroom 3, Bathroom 4, Bedroom 6, Bathroom 6, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2
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
Electric, Central Air
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 20
Last Checked: Aug 31 at 1:06PM
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.
Completed in 2025, this duplex contains 4,051 square feet across two residential units. Each unit includes three bedrooms and three full bathrooms, with an en-suite bath serving every bedroom. 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.
The property occupies 0.093 acres in Savannah, Georgia, within walking distance of restaurants, retail, and entertainment in the downtown area. SCAD is also located minutes away. Public water and public sewer serve the property, with central electric heating and central air conditioning.
The property occupies 0.093 acres in Savannah, Georgia, within walking distance of restaurants, retail, and entertainment in the downtown area. SCAD is also located minutes away. Public water and public sewer serve the property, with central electric heating and central air conditioning.
Key Highlights
- 4,051‑square‑foot duplex built in 2025
- Two units, each with 3 bedrooms and 3 full bathrooms
- Every bedroom includes a private en‑suite bathroom
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
1,596
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 residential units offer private bedroom suites, dedicated laundry rooms, and updated 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: 4,051‑square‑foot duplex built in 2025; Two units, each with 3 bedrooms and 3 full bathrooms; Every bedroom includes a private en‑suite bathroom
