Two-Unit Duplex with Central
For Sale
$499,500
806 E Park Ave, Savannah, GA 31401
Two separately arranged residences include central HVAC, full appliance packages, and access to parking from a rear alley.
Property Size2,202 SF
Price / SF$226.84
Days on Market36
Property Features for 806 E Park Ave
General Information
Standard status
Active
Size
2,202 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
central HVAC
stove
refrigerator
dishwasher
washer
dryer
Building Details
Year Built
1920
Buildings
1
Stories
2
Listing Agency:
Golden Properties
(912) 844-6198
Listed By:
Carl W. Sapp · License #285867
Source:
Southeastgahomesearch
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 29 at 11:35AM
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 Golden Properties
Investment Insights
Based on property information with market context.
Built in 1920, this two-story duplex contains two independent residences arranged across the upper and lower levels. Each unit provides two bedrooms, two bathrooms, and a spacious living room, creating a consistent four-bedroom, four-bathroom configuration across the property. Central HVAC serves both units, and each includes a stove, refrigerator, dishwasher, washer, and dryer.
Parking is located behind the home and reached through a rear alley. The upstairs Unit A is occupied, with showings requiring 24-hour notice. The downstairs Unit B is available for showings at any time, subject to advance coordination with the listing agent. The property is located at 806 E Park Ave in Savannah, Georgia 31401.
Parking is located behind the home and reached through a rear alley. The upstairs Unit A is occupied, with showings requiring 24-hour notice. The downstairs Unit B is available for showings at any time, subject to advance coordination with the listing agent. The property is located at 806 E Park Ave in Savannah, Georgia 31401.
Key Highlights
- Two‑story duplex built in 1920
- Two separate units, each with 2 bedrooms, 2 bathrooms, and a spacious living room
- Central HVAC provided in both units
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
$23,348
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
4.67%
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%
$466,960
$467.0K
Cap Rate 7%
$333,543
$333.5K
Cap Rate 9%
$259,422
$259.4K
Market Conditions
NOI Build-Up for 2,202 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
$35.7K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$33.4K $15.15/SF
− OpEx
−$10.0K −$4.54/SF
NOI
$23.3K $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%
$466,960
Cap Rate 7%
$333,543
Cap Rate 9%
$259,422
Alternative Uses
Best Use
Multifamily LT 5
$333.5K
$291.9K – $389.1K
NOI $23,348 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$309.3K
$270.7K – $360.9K
NOI $21,652 @ 7.0% cap · market cap 4.33%
Theoretical Best
Warehouse
$2.06M
$1.80M – $2.40M
NOI $144,054 @ 7.0% cap · market cap 28.84%
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
812
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately arranged residences include central HVAC, full appliance packages, and access to parking from a rear alley.
Where is this duplex located?
The property is located at 806 E Park Ave Savannah, GA.
What is the asking price?
The asking price for this property is $499,500.
What are key features of this property?
This property features: Two‑story duplex built in 1920; Two separate units, each with 2 bedrooms, 2 bathrooms, and a spacious living room; Central HVAC provided in both units
