Four-Unit Multifamily
For Sale
$539,900
506 - 512 W 42nd St, Savannah, GA 31415
Unit mix includes two- and three-bedroom residences, each with one bathroom and stainless steel kitchen appliances.
Property Size4,784 SF
Price / SF$112.86
Days on Market8
Property Features for 506 - 512 W 42nd St
General Information
Standard status
Active
Size
4,784 SF
Property subtype
Multi-Family
Building Details
Year Built
1930
Listing Agency:
Seaport Real Estate Group
(912) 228-0916
Listed By:
John R. Carr V · License #389664
Source:
Bradberrygarnerrealestate
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 7:26PM
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 Seaport Real Estate Group
Investment Insights
Based on property information with market context.
Located at 506–512 W 42nd St in Savannah, this 4,784-square-foot quadplex contains four residential units. The configuration includes two 2-bedroom, 1-bath units and two 3-bedroom, 1-bath units, creating a mix of floor plans within the property. Built in 1930, the building features luxury vinyl plank flooring throughout and stainless steel appliances in each kitchen. The units also include durable, low-maintenance finishes suited to ongoing residential occupancy.
The property is within walking distance of Savannah’s Starland District, with local coffee shops and restaurants nearby. Its four-unit layout, established residential configuration, and varied bedroom mix provide a clearly defined multifamily asset at a walkable urban location.
The property is within walking distance of Savannah’s Starland District, with local coffee shops and restaurants nearby. Its four-unit layout, established residential configuration, and varied bedroom mix provide a clearly defined multifamily asset at a walkable urban location.
Key Highlights
- Four‑unit quadplex with 4,784 square feet
- Two 2‑bedroom, 1‑bath units and two 3‑bedroom, 1‑bath units
- Luxury vinyl plank flooring throughout each unit
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
$47,040
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
8.71%
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%
$940,800
$940.8K
Cap Rate 7%
$672,000
$672.0K
Cap Rate 9%
$522,667
$522.7K
Market Conditions
NOI Build-Up for 4,784 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
$91.3K $19.08/SF
− Vacancy
−$5.8K −$1.20/SF
EGI
$85.5K $17.88/SF
− OpEx
−$38.5K −$8.05/SF
NOI
$47.0K $9.83/SF
Area
Savannah, GA
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$940,800
Cap Rate 7%
$672,000
Cap Rate 9%
$522,667
Alternative Uses
Best Use
Multifamily LT 5
$724.6K
$634.1K – $845.4K
NOI $50,724 @ 7.0% cap · market cap 9.40%
Second Best
Apartment 5plus
$672.0K
$588.0K – $784.0K
NOI $47,040 @ 7.0% cap · market cap 8.71%
Theoretical Best
Warehouse
$4.47M
$3.91M – $5.22M
NOI $312,967 @ 7.0% cap · market cap 57.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,355
Businesses Nearby
Explore this area
Business Placement
Demographics for 31415, GA
11,034
Population
5,591
Households
2
Avg Household Size
37
Median Age
15%
College-Educated
79%
High-School Grad
6.6 sq mi
ZIP Area
1,672
Density / Sq Mi
$37,890
Median Household Income
$28,229
Median Earnings
$973
Median Rent
$112,300
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?
Quadplex - Unit mix includes two- and three-bedroom residences, each with one bathroom and stainless steel kitchen appliances.
Where is this quadplex located?
The property is located at 506 - 512 W 42nd St Savannah, GA.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Four‑unit quadplex with 4,784 square feet; Two 2‑bedroom, 1‑bath units and two 3‑bedroom, 1‑bath units; Luxury vinyl plank flooring throughout each unit
