Four-Unit Quadplex with Brick
For Sale
Under Contract
$550,000
506 - 512 W 42nd Street, Savannah, GA 31415
MULTI_FAMILY - Savannah, GA
Property Size4,784 SF
Lot Size0.12 Acres
Price / SF$114.97
Days on Market54
Property Features for 506 - 512 W 42nd Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
BC
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 7, Bedroom 4, Bathroom 4, Bedroom 8, Bathroom 2, Bedroom 9, Bedroom 10, Bedroom 1, Bathroom 3, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 3
Appliances
Electric Water Heater
Subdivision
Dale Ward
Directions
Off MLK, property on the right.
Standard status
Active Under Contract
APN
2007332003
Size
4,784 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 59 DALE WARD
Tax Annual Amount
2552
Legal Description
LOT 59 DALE WARD
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
4
Building materials
Brick
Listing Agency:
Seaport Real Estate Group
(912) 202-2042
Listed By:
John R. Carr V · License #389664
(912) 228-0916
Added: Jun 19
Changed: Aug 11
Last Checked: Aug 11 at 9:06PM
MLS# SA358573
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 four-unit quadplex offers a two-and-two unit mix with two 2-bedroom, 1-bath units and two 3-bedroom, 1-bath units. The property is brick construction and was built in 1930. Interiors feature luxury vinyl plank flooring throughout, and each kitchen includes stainless steel appliances. Heating is provided by central and electric systems, and cooling is electric with central air. Appliances include an electric water heater.
The quadplex is located at 506 - 512 W 42nd Street in Savannah, GA 31415, with public water and public sewer service. It sits within walking distance of the Starland District, placing everyday dining and coffee options within reach.
With four separate units and a balanced bedroom mix, the property provides straightforward diversification within a single quadplex structure.
The quadplex is located at 506 - 512 W 42nd Street in Savannah, GA 31415, with public water and public sewer service. It sits within walking distance of the Starland District, placing everyday dining and coffee options within reach.
With four separate units and a balanced bedroom mix, the property provides straightforward diversification within a single quadplex structure.
Key Highlights
- Four‑unit quadplex with two 2‑bedroom, 1‑bath units and two 3‑bedroom, 1‑bath units
- 0.124‑acre lot and 4,784 SF property size
- Brick construction built in 1930
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
8.55%
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 9.22%
Second Best
Apartment 5plus
$672.0K
$588.0K – $784.0K
NOI $47,040 @ 7.0% cap · market cap 8.55%
Theoretical Best
Warehouse
$4.47M
$3.91M – $5.22M
NOI $312,967 @ 7.0% cap · market cap 56.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Zoned BC with four residential units in brick construction, featuring central and electric heating and central air cooling.
Where is this quadplex located?
The property is located at 506 - 512 W 42nd Street Savannah, GA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four‑unit quadplex with two 2‑bedroom, 1‑bath units and two 3‑bedroom, 1‑bath units; 0.124‑acre lot and 4,784 SF property size; Brick construction built in 1930
