Historic Two-Unit
For Sale
$499,000
709 E 35th Street, Savannah, GA 31401
Two distinct residences offer complete living spaces with kitchens, full baths, dining areas, and separate laundry rooms.
Property Size2,826 SF
Price / SF$176.57
Days on Market102
Property Features for 709 E 35th Street
General Information
Standard status
Active
Size
2,826 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
pocket doors (currently non-working)
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
laundry room
pocket doors
large moldings
high ceilings
picture rails
porch
balcony
side yard
None,Crawl Space
Hardwood,Other,Tile
No
Yes
2
No Common Walls
Pull-Down Stairs
5
Laundry Room
Assessor
Decorative,Masonry
Ceiling Fan(s),Pull Down Attic Stairs
Chain Link,Wood,Privacy,Yard Fenced
Ceiling Fans,Dryer,Refrigerator,Washer
Alley,City Lot,Interior Lot
Public
0.1
On Street
Asphalt
Balcony
Crawlspace
Public Road
Public Maintained Road
Building Details
Building Size
2,826 SF
Year Built
1920
Stories
2
Listing Agency:
Barefoot-Chandler & Associates
(912) 233-6000
Listed By:
Vann Seales
Source:
Baystreetrealtygroup
Added: May 21
Changed: Aug 29
Last Checked: Aug 29 at 10:37PM
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 Barefoot-Chandler & Associates
Investment Insights
Based on property information with market context.
Built in 1920, this 2826-square-foot duplex contains an upper residence with three bedrooms and a lower residence with two bedrooms. Both units include living and dining rooms, kitchens, full bathrooms, and individual laundry rooms. Interior character includes high ceilings, substantial moldings, picture rails, and pocket doors that are currently non-working.
Each residence has its own outdoor space, with a porch and balcony serving the two units. The property also includes a fenced side yard with entry from both the front and rear, along with alley access and on-street parking. Located at 709 E 35th Street in Savannah’s Eastside and Live Oak communities, the property is east of downtown and near restaurants and shopping along Victory near the Truman Parkway.
Each residence has its own outdoor space, with a porch and balcony serving the two units. The property also includes a fenced side yard with entry from both the front and rear, along with alley access and on-street parking. Located at 709 E 35th Street in Savannah’s Eastside and Live Oak communities, the property is east of downtown and near restaurants and shopping along Victory near the Truman Parkway.
Key Highlights
- Two‑unit duplex with 2826 square feet
- Upper unit has 3 bedrooms; lower unit has 2 bedrooms
- Each residence includes a kitchen, full bath, dining room, living room, and separate laundry room
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
$29,964
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
6.00%
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%
$599,280
$599.3K
Cap Rate 7%
$428,057
$428.1K
Cap Rate 9%
$332,933
$332.9K
Market Conditions
NOI Build-Up for 2,826 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
$45.8K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$42.8K $15.15/SF
− OpEx
−$12.8K −$4.54/SF
NOI
$30.0K $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%
$599,280
Cap Rate 7%
$428,057
Cap Rate 9%
$332,933
Alternative Uses
Best Use
Multifamily LT 5
$428.1K
$374.6K – $499.4K
NOI $29,964 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$397.0K
$347.4K – $463.1K
NOI $27,788 @ 7.0% cap · market cap 5.57%
Theoretical Best
Warehouse
$2.64M
$2.31M – $3.08M
NOI $184,876 @ 7.0% cap · market cap 37.05%
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
964
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
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences offer complete living spaces with kitchens, full baths, dining areas, and separate laundry rooms.
Where is this duplex located?
The property is located at 709 E 35th Street Savannah, GA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑unit duplex with 2826 square feet; Upper unit has 3 bedrooms; lower unit has 2 bedrooms; Each residence includes a kitchen, full bath, dining room, living room, and separate laundry room
