Duplex with Updated
For Sale
$690,000
510-512 E 39th Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size2,708 SF
Lot Size0.13 Acres
Price / SF$254.80
Days on Market157
Property Features for 510-512 E 39th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Balcony
Appliances
Electric Water Heater
Subdivision
Teynac Ward
Lot features
City Lot
Directions
From Price, turn left on 39th St. The house will be on the left.
Standard status
Active
APN
2006443022
Size
2,708 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
5 & 6 BLK 11 TEYNAC WD
Tax Annual Amount
6541
Legal Description
5 & 6 BLK 11 TEYNAC WD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
Judge Realty, LLC
(912) 236-1000
Listed By:
Rhonda Pulte · License #403462
(912) 675-7424
Added: Mar 27
Changed: Aug 19
Last Checked: Aug 30 at 7:06AM
MLS# SA352450
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.
Built in 1900, this Savannah duplex contains 2,708 square feet across two units, each with two bedrooms and one bathroom. Interior features include hardwood floors and updated kitchens, while a porch and balcony provide outdoor space. Central air, electric heating, an electric water heater, and off-street parking are in place. The property is served by public water and public sewer and carries R4 zoning.
Located at 510-512 E 39th Street in Savannah, the duplex is within walking distance of shops, cafes, and restaurants in the Starland District. Downtown Savannah is only minutes away. The two-unit configuration supports separate occupancy arrangements, including the option to occupy one residence while leasing the other.
Located at 510-512 E 39th Street in Savannah, the duplex is within walking distance of shops, cafes, and restaurants in the Starland District. Downtown Savannah is only minutes away. The two-unit configuration supports separate occupancy arrangements, including the option to occupy one residence while leasing the other.
Key Highlights
- Two‑unit duplex with 2,708 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Built in 1900 with hardwood floors and updated kitchens
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
$28,713
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
4.16%
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%
$574,260
$574.3K
Cap Rate 7%
$410,186
$410.2K
Cap Rate 9%
$319,033
$319.0K
Market Conditions
NOI Build-Up for 2,708 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
$43.9K $16.20/SF
− Vacancy
−$2.9K −$1.05/SF
EGI
$41.0K $15.15/SF
− OpEx
−$12.3K −$4.54/SF
NOI
$28.7K $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%
$574,260
Cap Rate 7%
$410,186
Cap Rate 9%
$319,033
Alternative Uses
Best Use
Multifamily LT 5
$410.2K
$358.9K – $478.6K
NOI $28,713 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$380.4K
$332.8K – $443.8K
NOI $26,627 @ 7.0% cap · market cap 3.86%
Theoretical Best
Warehouse
$2.53M
$2.21M – $2.95M
NOI $177,156 @ 7.0% cap · market cap 25.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,273
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
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 units provide matching two-bedroom, one-bath layouts with flexible rental configurations.
Where is this duplex located?
The property is located at 510-512 E 39th Street Savannah, GA.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,708 square feet; Each unit includes 2 bedrooms and 1 bathroom; Built in 1900 with hardwood floors and updated kitchens
