Historic Duplex with Private
For Sale
$650,000
534 E Waldburg Street, Savannah, GA
Residential Income, Savannah, GA
Property Size2,005 SF
Lot Size0.08 Acres
Price / SF$324.19
Days on Market279
Property Features for 534 E Waldburg Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
1-R
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1
Parking features
Off Street
Patio and Porch features
Porch
Interior features
Attic, Instant Hot Water
Fencing
Privacy
Fireplace
1
Appliances
Some Electric Appliances, Dishwasher, Gas Water Heater, Oven, Range, Dryer, Refrigerator, Washer
Subdivision
Lee Ward
Lot features
Back Yard, City Lot, Interior Lot, Private
Elementary school
Andria B Williams Elem
Middle school
Hubert MS
High school
School of Liberal Studies HS
Directions
From Victory, turn north onto E Broad St for .9 miles, turn left onto E Waldburg St. Destination on right in 200 ft.
Standard status
Active
APN
2004311006
Size
2,005 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 62 LEE WARD.
Tax Annual Amount
6209
Legal Description
LOT 62 LEE WARD.
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
front porch
deck
fenced backyard
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Hardwood
Building materials
Frame
Roof type
Asphalt
Additional Structures
Storage
Listing Agency:
Keller Williams Coastal Area P · Keller Williams Realty
(912) 356-5001
Listed By:
Colleen Mullin-park · License #404077
(607) 316-0810
Added: Nov 24, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:06AM
MLS# SA344010
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 2005-square-foot duplex includes two residential units, each arranged with two bedrooms and one bathroom. Original woodwork, hardwood flooring, decorative fireplaces, and a traditional front porch contribute historic character, while separate kitchens support the two-unit layout. The upper residence includes a private deck overlooking the fenced backyard, and off-street parking is provided. A third-floor bonus room adds adaptable space for office, studio, or additional living use.
The property occupies 0.079 acres at 534 E Waldburg Street in Savannah, Georgia, within the Victorian Historic District and two blocks from Forsyth Park. Restaurants, shopping, and other Historic District destinations are described as nearby. Zoning is 1-R, with public water and public sewer serving the property. Interior features include an attic and instant hot water; appliances include a dishwasher, range, oven, refrigerator, washer, and dryer.
The property occupies 0.079 acres at 534 E Waldburg Street in Savannah, Georgia, within the Victorian Historic District and two blocks from Forsyth Park. Restaurants, shopping, and other Historic District destinations are described as nearby. Zoning is 1-R, with public water and public sewer serving the property. Interior features include an attic and instant hot water; appliances include a dishwasher, range, oven, refrigerator, washer, and dryer.
Key Highlights
- Duplex with 2005 square feet on a 0.079‑acre lot
- Two units, each with 2 bedrooms and 1 bathroom
- Original woodwork, hardwood floors, decorative fireplaces, and front porch
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
$21,259
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
3.27%
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%
$425,180
$425.2K
Cap Rate 7%
$303,700
$303.7K
Cap Rate 9%
$236,211
$236.2K
Market Conditions
NOI Build-Up for 2,005 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
$32.5K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$30.4K $15.15/SF
− OpEx
−$9.1K −$4.54/SF
NOI
$21.3K $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%
$425,180
Cap Rate 7%
$303,700
Cap Rate 9%
$236,211
Alternative Uses
Best Use
Multifamily LT 5
$303.7K
$265.7K – $354.3K
NOI $21,259 @ 7.0% cap · market cap 3.27%
Second Best
Apartment 5plus
$281.6K
$246.4K – $328.6K
NOI $19,715 @ 7.0% cap · market cap 3.03%
Theoretical Best
Warehouse
$1.87M
$1.64M – $2.19M
NOI $131,166 @ 7.0% cap · market cap 20.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,786
Businesses Nearby
Explore this area
Business Placement
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?
Duplex - Two-unit property with original woodwork, separate kitchens, off-street parking, and flexible third-floor bonus space.
Where is this duplex located?
The property is located at 534 E Waldburg Street Savannah, GA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Duplex with 2005 square feet on a 0.079‑acre lot; Two units, each with 2 bedrooms and 1 bathroom; Original woodwork, hardwood floors, decorative fireplaces, and front porch
