Renovated Two-Unit
For Sale
$335,000
706 W 51st St, Savannah, GA 31405
Updated rental property with refreshed interiors, modern appliances, and one-bedroom, one-bath layouts on each side.
Property Size1,100 SF
Price / SF$304.55
Days on Market10
Property Features for 706 W 51st St
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1940
Buildings
1
Listing Agency:
Scott Realty Professionals
Listed By:
Latasha M. Hall · License #277942
(912) 844-0682
Source:
Searchgreateraugustahomes
Added: Sep 3
Changed: Sep 10
Last Checked: Sep 11 at 11:09AM
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 Scott Realty Professionals
Investment Insights
Based on property information with market context.
Built in 1940, this duplex contains two residential units totaling 1,100 square feet. Each side offers 1 bedroom and 1 bathroom, with luxury vinyl flooring, stainless steel appliances, ceramic tile shower surrounds, fresh paint, updated lighting, and new fixtures. Renovation work was completed across 2025-2026.
The property is located at 706 W 51st St in Savannah, near SCAD Midtown buildings and off Montgomery St. Unit A is currently rented, while both units share the same renovated configuration and updated interior finishes.
The property is located at 706 W 51st St in Savannah, near SCAD Midtown buildings and off Montgomery St. Unit A is currently rented, while both units share the same renovated configuration and updated interior finishes.
Key Highlights
- Two‑unit duplex with 1,100 square feet
- Each unit includes 1 bedroom and 1 bathroom
- Both sides updated during 2025‑2026
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
$11,663
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
3.48%
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%
$233,260
$233.3K
Cap Rate 7%
$166,614
$166.6K
Cap Rate 9%
$129,589
$129.6K
Market Conditions
NOI Build-Up for 1,100 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
$17.8K $16.20/SF
− Vacancy
−$1.2K −$1.05/SF
EGI
$16.7K $15.15/SF
− OpEx
−$5.0K −$4.54/SF
NOI
$11.7K $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%
$233,260
Cap Rate 7%
$166,614
Cap Rate 9%
$129,589
Alternative Uses
Best Use
Multifamily LT 5
$166.6K
$145.8K – $194.4K
NOI $11,663 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$154.5K
$135.2K – $180.3K
NOI $10,816 @ 7.0% cap · market cap 3.23%
Theoretical Best
Warehouse
$1.03M
$899.5K – $1.20M
NOI $71,961 @ 7.0% cap · market cap 21.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
546
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
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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 - Updated rental property with refreshed interiors, modern appliances, and one-bedroom, one-bath layouts on each side.
Where is this duplex located?
The property is located at 706 W 51st St Savannah, GA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,100 square feet; Each unit includes 1 bedroom and 1 bathroom; Both sides updated during 2025‑2026
