TR-3 Zoned
New
For Sale
$199,000
500 Amaranth Ave, Savannah, GA 31405
Two compact units provide a residential income configuration near Bull Street.
Property Size1,092 SF
Lot Size0.10 Acres
Price / SF$182.23
Days on Market5
Property Features for 500 Amaranth Ave
General Information
Standard status
Active
Size
1,092 SF
Lot size
0.10 Acres
Property subtype
Multi-Family
Zoning
TR-3
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
Light updates
Financials
Gross Income
$13,800
Average Monthly Rent
$575
Additional Details
Multifamily Units
2
Building Details
Year Built
1949
Buildings
1
Tenancy
Multi
Listing Agency:
The Commercial Group
(912) 663-9576
Listed By:
Joseph Solana · License #435296
Source:
Thehomesourcegroupga
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 12:25PM
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 The Commercial Group
Investment Insights
Based on property information with market context.
This 1949 duplex contains 1,092 square feet arranged as two compact residential units. The property includes four bedrooms and two bathrooms in total and sits on a 0.10-acre lot. Both units are currently rented, providing an existing two-unit residential configuration. The property is offered as-is, and no seller’s property disclosure is available.
Located west of Bull Street in Savannah’s West Victory area, the property carries TR-3 zoning and is identified as Parcel 20091-04017. The address is 500 Amaranth Ave, with the two units identified as 500 Amaranth and 502 Amaranth. Buyers should independently verify square footage, condition, and the in-place leases.
Located west of Bull Street in Savannah’s West Victory area, the property carries TR-3 zoning and is identified as Parcel 20091-04017. The address is 500 Amaranth Ave, with the two units identified as 500 Amaranth and 502 Amaranth. Buyers should independently verify square footage, condition, and the in-place leases.
Key Highlights
- Two‑unit duplex with 1, 092 square feet
- Four bedrooms and 2 bathrooms total
- 0.10 acre lot with TR‑3 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
$11,578
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
5.82%
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%
$231,560
$231.6K
Cap Rate 7%
$165,400
$165.4K
Cap Rate 9%
$128,644
$128.6K
Market Conditions
NOI Build-Up for 1,092 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
$17.7K $16.20/SF
− Vacancy
−$1.1K −$1.05/SF
EGI
$16.5K $15.15/SF
− OpEx
−$5.0K −$4.54/SF
NOI
$11.6K $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%
$231,560
Cap Rate 7%
$165,400
Cap Rate 9%
$128,644
Alternative Uses
Best Use
Multifamily LT 5
$165.4K
$144.7K – $193.0K
NOI $11,578 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$153.4K
$134.2K – $179.0K
NOI $10,738 @ 7.0% cap · market cap 5.40%
Theoretical Best
Warehouse
$1.02M
$893.0K – $1.19M
NOI $71,438 @ 7.0% cap · market cap 35.90%
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
748
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 - Two compact units provide a residential income configuration near Bull Street.
Where is this duplex located?
The property is located at 500 Amaranth Ave Savannah, GA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑unit duplex with 1, 092 square feet; Four bedrooms and 2 bathrooms total; 0.10 acre lot with TR‑3 zoning
