Renovated Brick
For Sale
$699,000
4602 Sussex Place, Savannah, GA 31405
Brick duplex in an established residential area with multifamily zoning and nearby retail amenities.
Property Size2,104 SF
Lot Size0.21 Acres
Days on Market27
Property Features for 4602 Sussex Place
General Information
Standard status
Active
Size
2,104 SF
Class
Class A
Lot size
0.21 Acres
Property subtype
Multi Family Home
Zoning
R6, Multi Family
Additional Details
Multifamily Units
2
Building Details
Building Size
2,104 SF
Year Built
1950
Buildings
1
Stories
1
Units
2
Construction
brick
Listing Agency:
Realty One Group Inclusion
(305) 562-1914
Listed By:
Monica Beadleston · License #366695
(305) 562-1914
Source:
Woodwardrealestategroup
Added: Jul 22
Changed: Aug 12
Last Checked: Aug 16 at 3:29PM
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 Realty One Group Inclusion
Investment Insights
Based on property information with market context.
Located at 4602 Sussex Place in Savannah, this brick duplex was built in 1950 and has been recently renovated. The property occupies a 0.21-acre corner lot and carries R6, Multi Family zoning.
The duplex is positioned in Habersham Village within the Sylvan Terrace residential area, with grocery stores, restaurants, cafes, a pharmacy, gas station, and boutique shops nearby. Memorial Health University Medical Center and other major healthcare facilities are part of the surrounding Medical Arts area. The property is across from a public elementary and middle school.
Travel times include approximately 5 minutes to Starland, 10 minutes to downtown Savannah, and 25 minutes to Savannah/Hilton Head airport. Habersham Village is described as a walkable, low-traffic area with established rental activity and a long rental history.
The duplex is positioned in Habersham Village within the Sylvan Terrace residential area, with grocery stores, restaurants, cafes, a pharmacy, gas station, and boutique shops nearby. Memorial Health University Medical Center and other major healthcare facilities are part of the surrounding Medical Arts area. The property is across from a public elementary and middle school.
Travel times include approximately 5 minutes to Starland, 10 minutes to downtown Savannah, and 25 minutes to Savannah/Hilton Head airport. Habersham Village is described as a walkable, low-traffic area with established rental activity and a long rental history.
Key Highlights
- Recently renovated 1950 brick duplex
- 0.21‑acre corner lot at 4602 Sussex Place
- R6, Multi Family zoning
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
$22,309
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
3.19%
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%
$446,180
$446.2K
Cap Rate 7%
$318,700
$318.7K
Cap Rate 9%
$247,878
$247.9K
Market Conditions
NOI Build-Up for 2,104 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
$34.1K $16.20/SF
− Vacancy
−$2.2K −$1.05/SF
EGI
$31.9K $15.15/SF
− OpEx
−$9.6K −$4.54/SF
NOI
$22.3K $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 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%
$446,180
Cap Rate 7%
$318,700
Cap Rate 9%
$247,878
Alternative Uses
Best Use
Multifamily LT 5
$318.7K
$278.9K – $371.8K
NOI $22,309 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$295.5K
$258.6K – $344.8K
NOI $20,688 @ 7.0% cap · market cap 2.96%
Theoretical Best
Warehouse
$1.97M
$1.72M – $2.29M
NOI $137,643 @ 7.0% cap · market cap 19.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,842
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
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Frequently Asked Questions
What type of property is this?
Duplex - Brick duplex in an established residential area with multifamily zoning and nearby retail amenities.
Where is this duplex located?
The property is located at 4602 Sussex Place Savannah, GA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Recently renovated 1950 brick duplex; 0.21‑acre corner lot at 4602 Sussex Place; R6, Multi Family zoning
