Updated Two-Unit
For Sale
$729,000
44 E 55th Street, Savannah, GA 31405
Savannah, GA
Property Size3,250 SF
Price / SF$224.31
Days on Market48
Property Features for 44 E 55th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 1
Standard status
Active
Size
3,250 SF
Amenities
hardwood floors
front porch
off-street parking
screened porch
high-end appliances
renovated kitchen
laundry room
central air
Building Details
Year built
1921
Listing Agency:
Engel & Volkers Savannah · Engel & Völkers
(912) 238-0874
Listed By:
Robert Evangelista · License #432196
(617) 571-2906
Added: Jul 17
Changed: Aug 25
Last Checked: Sep 2 at 4:06PM
MLS# SA358850
Copyright © 2026 Engel & Völkers. 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.
Built in 1921, this 3,250-square-foot duplex contains two three-bedroom residences with hardwood flooring and front porches. Both units are tenant-occupied. Rear off-street parking serves the property, while recent improvements include a new roof, a newer central air system, and a new HVAC system serving Unit 46.
Additional work includes a screened porch at Unit 44, rebuilt rear stairs, renewed concrete entry steps, interior painting throughout, and a remodeled bathroom in Unit 44. Unit 44 also received a new washer and dryer; Unit 46 has a new refrigerator and dishwasher, along with replaced floor vents and refreshed kitchen tile. The property includes upgraded appliances, renovated kitchen and laundry areas, and is situated in Savannah’s Ardsley Park historic neighborhood.
Additional work includes a screened porch at Unit 44, rebuilt rear stairs, renewed concrete entry steps, interior painting throughout, and a remodeled bathroom in Unit 44. Unit 44 also received a new washer and dryer; Unit 46 has a new refrigerator and dishwasher, along with replaced floor vents and refreshed kitchen tile. The property includes upgraded appliances, renovated kitchen and laundry areas, and is situated in Savannah’s Ardsley Park historic neighborhood.
Key Highlights
- 3,250‑square‑foot duplex with two three‑bedroom residences
- Built in 1921 with hardwood floors and front porches
- Both units are currently tenant‑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
$34,459
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
4.73%
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%
$689,180
$689.2K
Cap Rate 7%
$492,271
$492.3K
Cap Rate 9%
$382,878
$382.9K
Market Conditions
NOI Build-Up for 3,250 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
$52.7K $16.20/SF
− Vacancy
−$3.4K −$1.05/SF
EGI
$49.2K $15.15/SF
− OpEx
−$14.8K −$4.54/SF
NOI
$34.5K $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%
$689,180
Cap Rate 7%
$492,271
Cap Rate 9%
$382,878
Alternative Uses
Best Use
Multifamily LT 5
$492.3K
$430.7K – $574.3K
NOI $34,459 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$456.5K
$399.5K – $532.6K
NOI $31,957 @ 7.0% cap · market cap 4.38%
Theoretical Best
Warehouse
$3.04M
$2.66M – $3.54M
NOI $212,613 @ 7.0% cap · market cap 29.17%
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
541
Businesses Nearby
Explore this area
Business Placement
Demographics for 31405, GA
38,069
Population
16,809
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
31.2 sq mi
ZIP Area
1,220
Density / Sq Mi
$62,123
Median Household Income
$35,836
Median Earnings
$1,431
Median Rent
$304,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied residences offer hardwood floors, front porches, and rear off-street parking.
Where is this duplex located?
The property is located at 44 E 55th Street Savannah, GA.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: 3,250‑square‑foot duplex with two three‑bedroom residences; Built in 1921 with hardwood floors and front porches; Both units are currently tenant‑occupied
