Updated Duplex with Covered
For Sale
$405,000
720 Waters Ave, Savannah, GA 31404
Two occupied units feature renovated interiors, laundry connections, and off-street parking.
Property Size1,268 SF
Price / SF$319.40
Days on Market70
Property Features for 720 Waters Ave
General Information
Standard status
Active
Size
1,268 SF
Property subtype
Multi-Family
Occupancy
100%
Financials
Gross Income
$38,400
Average Monthly Rent
$1,600
Additional Details
Multifamily Units
2
Amenities
in-unit washer/dryer connections
covered front porch
Building Details
Year Built
1914
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Coastal Area P
Listed By:
Shannee L. Theus · License #390473
(315) 289-6677
Source:
Southeastgahomesearch
Added: Aug 7
Changed: Oct 14
Last Checked: Oct 7 at 1:54PM
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 Keller Williams Coastal Area P
Investment Insights
Based on property information with market context.
Located at 720 Waters Ave in Savannah, this 1,268-square-foot duplex contains two separate units with four bedrooms and two bathrooms combined. Built in 1914, the property has updated interior finishes, including white shaker cabinetry, granite countertops, stainless steel appliances, and wide-plank flooring. A renovated bathroom includes a marble tile surround, while each unit has washer and dryer connections.
Both units are occupied, and the exterior includes a covered front porch along with off-street parking serving the property. The duplex configuration provides distinct living spaces within a single residential income property.
Both units are occupied, and the exterior includes a covered front porch along with off-street parking serving the property. The duplex configuration provides distinct living spaces within a single residential income property.
Key Highlights
- Two‑unit duplex with 1,268 square feet and 4 bedrooms, 2 bathrooms combined
- Both units occupied
- Updated kitchens with white shaker cabinets, granite countertops, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,444
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$268,880
$268.9K
Cap Rate 7%
$192,057
$192.1K
Cap Rate 9%
$149,378
$149.4K
Market Conditions
NOI Build-Up for 1,268 SF
Gross rent
$20.5K $16.20/SF
− Vacancy
−$1.3K −$1.05/SF
EGI
$19.2K $15.15/SF
− OpEx
−$5.8K −$4.54/SF
NOI
$13.4K $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 Rate 5%
$268,880
Cap Rate 7%
$192,057
Cap Rate 9%
$149,378
Alternative Uses
Best Use
Multifamily LT 5
$192.1K
$168.1K – $224.1K
NOI $13,444 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$178.1K
$155.9K – $207.8K
NOI $12,468 @ 7.0% cap · market cap 3.08%
Theoretical Best
Warehouse
$1.19M
$1.04M – $1.38M
NOI $82,952 @ 7.0% cap · market cap 20.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 31404, GA
31,530
Population
14,427
Households
2.2
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$49,805
Median Household Income
$31,620
Median Earnings
$1,199
Median Rent
$193,100
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 - Two occupied units feature renovated interiors, laundry connections, and off-street parking.
Where is this duplex located?
The property is located at 720 Waters Ave Savannah, GA.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,268 square feet and 4 bedrooms, 2 bathrooms combined; Both units occupied; Updated kitchens with white shaker cabinets, granite countertops, and stainless steel appliances
