All-Brick Three-Unit
For Sale
$349,900
6 Ronnie Ave, Savannah, GA 31408
Three matching residences and dedicated garages for Units A and B create a straightforward multifamily configuration.
Property Size3,162 SF
Price / SF$110.66
Days on Market49
Property Features for 6 Ronnie Ave
General Information
Standard status
Active
Size
3,162 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
dedicated garages
Building Details
Year Built
1961
Construction
brick
Listing Agency:
Seaport Real Estate Group
(912) 228-0916
Listed By:
John R. Carr V · License #389664
Source:
Patrickrealestate
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 29 at 12:08PM
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 Seaport Real Estate Group
Investment Insights
Based on property information with market context.
This 3,162-square-foot triplex contains three matching units, each arranged with two bedrooms and one bathroom. Units A and B include dedicated garages, adding private vehicle storage to those residences. The building features all-brick construction and was completed in 1961, providing a durable physical profile for a small multifamily asset.
The consistent unit layout supports a simple property configuration, with the three residences sharing the same bedroom and bathroom count. Together, the matching floor plans and garage availability in two units distinguish the improvements within this compact triplex format.
The consistent unit layout supports a simple property configuration, with the three residences sharing the same bedroom and bathroom count. Together, the matching floor plans and garage availability in two units distinguish the improvements within this compact triplex format.
Key Highlights
- Three‑unit triplex totaling 3,162 square feet
- Each unit has 2 bedrooms and 1 bathroom
- Dedicated garages included with Units A and B
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
$31,092
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
8.89%
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%
$621,840
$621.8K
Cap Rate 7%
$444,171
$444.2K
Cap Rate 9%
$345,467
$345.5K
Market Conditions
NOI Build-Up for 3,162 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
$60.3K $19.08/SF
− Vacancy
−$3.8K −$1.20/SF
EGI
$56.5K $17.88/SF
− OpEx
−$25.4K −$8.05/SF
NOI
$31.1K $9.83/SF
Area
Savannah, GA
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$621,840
Cap Rate 7%
$444,171
Cap Rate 9%
$345,467
Alternative Uses
Best Use
Multifamily LT 5
$478.9K
$419.1K – $558.8K
NOI $33,526 @ 7.0% cap · market cap 9.58%
Second Best
Apartment 5plus
$444.2K
$388.7K – $518.2K
NOI $31,092 @ 7.0% cap · market cap 8.89%
Theoretical Best
Warehouse
$2.96M
$2.59M – $3.45M
NOI $206,857 @ 7.0% cap · market cap 59.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 31408, GA
11,790
Population
4,529
Households
2.6
Avg Household Size
36
Median Age
13%
College-Educated
82%
High-School Grad
21.1 sq mi
ZIP Area
559
Density / Sq Mi
$40,109
Median Household Income
$30,667
Median Earnings
$1,080
Median Rent
$160,600
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?
Triplex - Three matching residences and dedicated garages for Units A and B create a straightforward multifamily configuration.
Where is this triplex located?
The property is located at 6 Ronnie Ave Savannah, GA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Three‑unit triplex totaling 3,162 square feet; Each unit has 2 bedrooms and 1 bathroom; Dedicated garages included with Units A and B
