Victorian Home in
For Sale
Contact for pricing
Pending
512 W 44th St, Savannah, GA 31405
Charming Victorian home with original features, ideal for investors.
Property Size1,608 SF
Days on Market730
Property Features for 512 W 44th St
General Information
Standard status
Pending
Size
1,608 SF
Class
C
Property subtype
Multifamily
Zoning
TR-3
Building Details
Year Built
1924
Buildings
1
Stories
1
Units
1
Listing Agency:
Keller Williams Coastal Area Partners
(912) 433-1072
Listed By:
Brandon Fargo · License #GA 416596
Source:
Crexi
Added: Sep 2, 2024
Changed: Aug 26
Last Checked: Aug 29 at 6:35PM
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 Keller Williams Coastal Area Partners
Investment Insights
Based on property information with market context.
Located at 512 W 44th St, Savannah, this Victorian home features 3 bedrooms and 2 baths, with 1,608 square feet of living space. The property includes original hardwood floors and Victorian architectural details. The home is suitable for investors or those looking to customize the space. It also offers a spacious backyard and is conveniently located close to shopping, downtown, hospitals, and the Savannah College of Art and Design (SCAD).
Key Highlights
- Victorian home with original hardwood floors and Victorian features
- Convenient location close to shopping, downtown, hospitals, and SCAD
- Spacious backyard
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
$17,049
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
5.25%
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%
$340,980
$341.0K
Cap Rate 7%
$243,557
$243.6K
Cap Rate 9%
$189,433
$189.4K
Market Conditions
NOI Build-Up for 1,608 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
$26.0K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$24.4K $15.15/SF
− OpEx
−$7.3K −$4.54/SF
NOI
$17.0K $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%
$340,980
Cap Rate 7%
$243,557
Cap Rate 9%
$189,433
Alternative Uses
Best Use
Multifamily LT 5
$243.6K
$213.1K – $284.2K
NOI $17,049 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$225.9K
$197.6K – $263.5K
NOI $15,811 @ 7.0% cap · market cap 4.86%
Theoretical Best
Warehouse
$1.50M
$1.31M – $1.75M
NOI $105,195 @ 7.0% cap · market cap 32.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,198
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
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?
Triplex - Charming Victorian home with original features, ideal for investors.
Where is this triplex located?
The property is located at 512 W 44th St Savannah, GA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Victorian home with original hardwood floors and Victorian features; Convenient location close to shopping, downtown, hospitals, and SCAD; Spacious backyard
