Victorian Duplex With
For Sale
$680,000
515 E Duffy Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size2,652 SF
Lot Size0.11 Acres
Price / SF$256.41
Days on Market185
Property Features for 515 E Duffy Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
1-R
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 4
Parking features
On Street, Off Street
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Pull Down Attic Stairs, Fireplace, Programmable Thermostat
Exterior features
Balcony
Fencing
Fenced, Privacy
Fireplace
1
Appliances
Some Electric Appliances, Dishwasher, Gas Water Heater, Microwave, Oven, Range, Dryer, Refrigerator, Washer
Subdivision
Victorian District
Lot features
City Lot, Garden
Directions
Duffy Street between Price and East Broad
Standard status
Active
APN
2-0053-07-017
Size
2,652 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
LOT G AND PT LOT H SEC 9 WARING WD
Legal Description
LOT G AND PT LOT H SEC 9 WARING WD
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Natural Gas
Cooling system
Electric, Central Air
Water source
Public
Amenities
private fenced backyard
balcony
in-unit washer/dryer
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Wood
Building materials
Wood Siding
Roof type
Asphalt
Architectural style
Victorian
Listing Agency:
Engel & Volkers
(912) 238-0874
Listed By:
Anna Grace Lowenthal · License #425445
(770) 695-4886
Added: Mar 12
Changed: Sep 11
Last Checked: Sep 12 at 12:06AM
MLS# SA350820
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 two-unit residential property in Savannah’s Victorian District contains 2,652 square feet and dates to 1900. The lower residence has three bedrooms and one bathroom, while the upper residence includes two bedrooms, one bathroom, and a flex or office area. Both units include kitchens with granite countertops, washer and dryer appliances, hardwood flooring, and original details such as decorative fireplaces and pocket doors. The upper level also opens to a balcony, while the property provides a fenced backyard and two off-street parking spaces.
The property occupies 0.11 acres at 515 E Duffy Street in Savannah, GA 31401, near Forsyth Park and Dixon Park. Nearby points of interest identified in the property information include SCAD buildings, Treylor Park Pizza Party, Shuk, and Bobbie’s Diner. Public water and sewer serve the property, with 1-R zoning.
The property occupies 0.11 acres at 515 E Duffy Street in Savannah, GA 31401, near Forsyth Park and Dixon Park. Nearby points of interest identified in the property information include SCAD buildings, Treylor Park Pizza Party, Shuk, and Bobbie’s Diner. Public water and sewer serve the property, with 1-R zoning.
Key Highlights
- 2,652 square feet on a 0.11‑acre lot
- Two‑unit layout with 3‑bedroom and 2‑bedroom residences
- Upper unit includes a flex or office area and balcony
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
$28,119
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
4.14%
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%
$562,380
$562.4K
Cap Rate 7%
$401,700
$401.7K
Cap Rate 9%
$312,433
$312.4K
Market Conditions
NOI Build-Up for 2,652 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
$43.0K $16.20/SF
− Vacancy
−$2.8K −$1.05/SF
EGI
$40.2K $15.15/SF
− OpEx
−$12.1K −$4.54/SF
NOI
$28.1K $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%
$562,380
Cap Rate 7%
$401,700
Cap Rate 9%
$312,433
Alternative Uses
Best Use
Multifamily LT 5
$401.7K
$351.5K – $468.7K
NOI $28,119 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$372.5K
$326.0K – $434.6K
NOI $26,077 @ 7.0% cap · market cap 3.83%
Theoretical Best
Warehouse
$2.48M
$2.17M – $2.89M
NOI $173,493 @ 7.0% cap · market cap 25.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,686
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 separate kitchens, laundry appliances, hardwood floors, and access to a fenced backyard.
Where is this duplex located?
The property is located at 515 E Duffy Street Savannah, GA.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: 2,652 square feet on a 0.11‑acre lot; Two‑unit layout with 3‑bedroom and 2‑bedroom residences; Upper unit includes a flex or office area and balcony
