Renovated
New
For Sale
$335,000
706 W 51st Street, Savannah, GA 31405
Residential Income, Savannah, GA
Property Size1,100 SF
Lot Size0.07 Acres
Price / SF$304.55
Days on Market4
Property Features for 706 W 51st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM25
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
Parking features
On Street
Window features
Double Pane Windows
Patio and Porch features
Porch
Interior features
Ceiling Fan(s)
Fencing
Fenced
Appliances
Some Electric Appliances, Dishwasher, Electric Water Heater, Microwave, Range, Refrigerator
Subdivision
Jackson Park
Lot features
City Lot
Directions
FROM HOPKINS ST TURN WEST ONTO W 51ST ST AND THE PROPERTY IS ON THE LEFT JUST BEFORE FLORANCE ST.
Standard status
Active
APN
2009111006
Size
1,100 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
LT 37 JACKSON PK
Legal Description
LT 37 JACKSON PK
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace, Electric (Heating)
Cooling system
Electric, Wall Unit(s)
Water source
Public
Amenities
luxury vinyl flooring
stainless steel appliances
ceramic tile showers
fresh paint
new lighting and fixtures
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Roof type
Metal
Architectural style
Bungalow
Listing Agency:
Scott Realty Professionals
(912) 349-7766
Listed By:
Latasha M. Hall · License #277942
(912) 656-0266
Added: Sep 4
Changed: Sep 7
Last Checked: Sep 7 at 8:06PM
MLS# SA364060
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 1,100-square-foot duplex on a 0.072-acre lot contains two one-bedroom, one-bath units. Both residences feature luxury vinyl flooring, stainless steel appliances, ceramic tile showers, new lighting and fixtures, and fresh paint. Additional property features include electric wall-furnace heating, wall-unit cooling, a metal roof, porches, fencing, and public water and sewer. The structure was built in 1940 and carries RM25 zoning.
Located at 706 W 51st Street in Savannah, the property is near SCAD Midtown buildings and Montgomery Street. On-street parking is available. Unit A is currently rented, and the property is identified as eligible for FHA, VA, and conventional financing.
Located at 706 W 51st Street in Savannah, the property is near SCAD Midtown buildings and Montgomery Street. On-street parking is available. Unit A is currently rented, and the property is identified as eligible for FHA, VA, and conventional financing.
Key Highlights
- Two‑unit duplex with 1,100 square feet of property size
- Each unit includes 1 bedroom and 1 bathroom
- Interior updates completed in 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
Property Profile
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
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 one-bedroom units with refreshed interiors, RM25 zoning, and updated kitchens and baths.
Where is this duplex located?
The property is located at 706 W 51st Street 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 of property size; Each unit includes 1 bedroom and 1 bathroom; Interior updates completed in 2025‑2026
