Three-Level Duplex with Off-Street
For Sale
$849,000
509 E Jones St, Savannah, GA 31401
Two residential units offer distinct layouts, outdoor areas, and a partially fenced backyard.
Property Size2,640 SF
Price / SF$321.59
Days on Market10
Property Features for 509 E Jones St
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Compass Georgia LLC
Listed By:
Liza DiMarco · License #364345
(805) 450-3795
Source:
Southeastgahomesearch
Added: Sep 18
Last Checked: Sep 26 at 1:15PM
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 Compass Georgia LLC
Investment Insights
Based on property information with market context.
Located at 509 E Jones St in Savannah, this 2,640-square-foot duplex was built in 1900 and is arranged across three levels. The first-floor residence features an open studio-style plan with dining and living areas, tall windows, a large kitchen, full bath, covered foyer, screened porch, and private deck.
The second residence occupies two floors in a townhouse-style layout. Its main level includes a sunroom, kitchen, dining area, spacious living room, and two full baths. The upper level contains two bedrooms, including a primary bedroom, plus an additional full bath. Exterior features include a large partially fenced backyard and off-street parking.
The second residence occupies two floors in a townhouse-style layout. Its main level includes a sunroom, kitchen, dining area, spacious living room, and two full baths. The upper level contains two bedrooms, including a primary bedroom, plus an additional full bath. Exterior features include a large partially fenced backyard and off-street parking.
Key Highlights
- 2,640‑square‑foot duplex built in 1900
- Two residential units arranged across three levels
- First‑floor unit with studio‑style layout, screened porch, and private deck
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
$27,992
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
3.30%
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%
$559,840
$559.8K
Cap Rate 7%
$399,886
$399.9K
Cap Rate 9%
$311,022
$311.0K
Market Conditions
NOI Build-Up for 2,640 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
$42.8K $16.20/SF
− Vacancy
−$2.8K −$1.05/SF
EGI
$40.0K $15.15/SF
− OpEx
−$12.0K −$4.54/SF
NOI
$28.0K $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%
$559,840
Cap Rate 7%
$399,886
Cap Rate 9%
$311,022
Alternative Uses
Best Use
Multifamily LT 5
$399.9K
$349.9K – $466.5K
NOI $27,992 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$370.8K
$324.5K – $432.7K
NOI $25,959 @ 7.0% cap · market cap 3.06%
Theoretical Best
Warehouse
$2.47M
$2.16M – $2.88M
NOI $172,708 @ 7.0% cap · market cap 20.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,231
Businesses Nearby
Explore this area
Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer distinct layouts, outdoor areas, and a partially fenced backyard.
Where is this duplex located?
The property is located at 509 E Jones St Savannah, GA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 2,640‑square‑foot duplex built in 1900; Two residential units arranged across three levels; First‑floor unit with studio‑style layout, screened porch, and private deck
