Brick
For Sale
Under Contract
$699,000
4602 Sussex Place, Savannah, GA 31405
Residential Income, Savannah, GA
Property Size2,104 SF
Lot Size0.21 Acres
Price / SF$332.22
Days on Market45
Property Features for 4602 Sussex Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R6
Zoning description
Multi Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2
Parking features
Off Street
Interior features
Ceiling Fan(s), Pull Down Attic Stairs, Programmable Thermostat
Appliances
Some Electric Appliances, Dishwasher, Disposal, Gas Water Heater, Microwave, Oven, Range, Range Hood, Washer, Dryer, Refrigerator
Subdivision
Lamara Heights
Lot features
Back Yard, Corner Lot, Garden, Level, Private
Directions
Go South on Habersham Street. Turn left onto Lamara Street then right onto Sussex Place. The property will on the left-hand side on the corner of Lamara Street and Sussex Place.
Standard status
Active Under Contract
APN
2010606001
Size
2,104 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 31 LAMARA HEIGHTS SUB WISE W ARD
Tax Annual Amount
5142
Legal Description
LOT 31 LAMARA HEIGHTS SUB WISE W ARD
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Realty One Group Inclusion
(912) 298-7200
Listed By:
Monica Beadleston · License #366695
(305) 562-1914
Added: Jul 22
Changed: Sep 4
Last Checked: Sep 4 at 6:06PM
MLS# SA355335
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 brick duplex, constructed in 1950, contains 2,104 square feet on a 0.21-acre corner lot. The interior includes hardwood and ceramic tile flooring, central heating and air conditioning, ceiling fans, programmable thermostats, and pull-down attic stairs. Appliances include a dishwasher, disposal, gas water heater, microwave, oven, range, range hood, washer, dryer, and refrigerator. Off-street parking is provided.
The property is located on Sussex Place in Savannah’s Habersham Village area, within the broader midtown Medical Arts neighborhood. Grocery stores, restaurants, cafes, a pharmacy, a gas station, and boutique shops are nearby. The property is approximately 5 minutes from Starland, 10 minutes from downtown Savannah, and 25 minutes from Savannah/Hilton Head International Airport. Memorial Health University Medical Center is also among the nearby healthcare hubs.
The property is located on Sussex Place in Savannah’s Habersham Village area, within the broader midtown Medical Arts neighborhood. Grocery stores, restaurants, cafes, a pharmacy, a gas station, and boutique shops are nearby. The property is approximately 5 minutes from Starland, 10 minutes from downtown Savannah, and 25 minutes from Savannah/Hilton Head International Airport. Memorial Health University Medical Center is also among the nearby healthcare hubs.
Key Highlights
- 2,104‑square‑foot duplex on a 0.21‑acre corner lot
- Brick construction dating to 1950
- R6 zoning designation
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 - R6-zoned residential property with public water and sewer service.
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: 2,104‑square‑foot duplex on a 0.21‑acre corner lot; Brick construction dating to 1950; R6 zoning designation
