As-Is Duplex with Two
For Sale
$199,000
500 Amaranth Avenue, Savannah, GA 31405
Residential Income, Savannah, GA
Property Size1,092 SF
Lot Size0.10 Acres
Price / SF$182.23
Days on Market52
Property Features for 500 Amaranth Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
TR-3
Zoning description
Multi Family
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 2
Appliances
Electric Water Heater, Oven, Range, Refrigerator
Subdivision
Blk G McNish Sub
Lot features
City Lot, Level
Directions
From Victory Drive, head south on Montgomery Street to W 52nd Street, then west to Amaranth Avenue. The duplex is at the corner, 500 and 502 Amaranth Avenue.
Standard status
Active
APN
2009104017
Size
1,092 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LT 10 + PT 11 BLK G MCNISH SUB COLDING WD
Tax Annual Amount
2138
Legal Description
LT 10 + PT 11 BLK G MCNISH SUB COLDING WD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1949
Floors in Building
1
Number of units
2
Building materials
Frame
Architectural style
Bungalow
Listing Agency:
The Commercial Group
(912) 354-9000
Listed By:
Joseph Solana · License #435296
(912) 663-9576
Added: Aug 5
Changed: Sep 25
Last Checked: Sep 25 at 8:06AM
MLS# SA362060
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 1,092-square-foot duplex is configured as two compact residential units with four bedrooms and two bathrooms in total. The frame building was constructed in 1949 with bungalow-style architecture and is being offered as-is. Existing features include central air conditioning, electric heating, an electric water heater, an oven, range, and refrigerator.
Both units are currently rented, providing two separate residential spaces within one property. The duplex is located west of Bull Street in Savannah’s West Victory area, within ZIP code 31405. TR-3 zoning, public water, and public sewer service are documented for the property. The recorded property address is 500 Amaranth Avenue, with the second unit identified as 502 Amaranth.
Both units are currently rented, providing two separate residential spaces within one property. The duplex is located west of Bull Street in Savannah’s West Victory area, within ZIP code 31405. TR-3 zoning, public water, and public sewer service are documented for the property. The recorded property address is 500 Amaranth Avenue, with the second unit identified as 502 Amaranth.
Key Highlights
- 1,092‑square‑foot duplex with two compact units
- Four bedrooms and two bathrooms combined
- Both units are currently rented
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
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Current Use
Lease Details
2
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Bungalow-style construction includes central air, electric heating, and public water and sewer connections.
Where is this duplex located?
The property is located at 500 Amaranth Avenue 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: 1,092‑square‑foot duplex with two compact units; Four bedrooms and two bathrooms combined; Both units are currently rented
