Two-Unit Duplex with Central
For Sale
$499,500
806 E Park Avenue, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size2,202 SF
Lot Size0.10 Acres
Price / SF$226.84
Days on Market171
Property Features for 806 E Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3
Zoning description
Multi Family, Single Family
Bedrooms
4
Bathrooms
2
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 3
Appliances
Some Electric Appliances, Dishwasher, Electric Water Heater, Oven, Range, Dryer, Refrigerator, Washer
Subdivision
Kelly Ward
Lot features
Alley, City Lot
Directions
Waters Ave to East Park Ave, take a left and the house will be on the 3rd block on the right.
Standard status
Active
APN
2004212009
Size
2,202 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 2 KELLY WD
Tax Annual Amount
3937
Legal Description
LOT 2 KELLY WD
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
central HVAC
stove
refrigerator
dishwasher
washer
dryer
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Frame, Vinyl Siding
Roof type
Asphalt
Listing Agency:
Golden Properties
(912) 925-7777
Listed By:
Carl W. Sapp · License #285867
(912) 844-6198
Added: Mar 13
Changed: Aug 19
Last Checked: Aug 30 at 6:06AM
MLS# SA351334
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 two-story duplex contains 2,202 square feet arranged as two separate units. Each residence includes two bedrooms, two bathrooms, and a living room, with hardwood flooring and central HVAC. Both units include a stove, refrigerator, dishwasher, washer, and dryer. The frame building has vinyl siding, an asphalt roof, public water, and public sewer, and was built in 1920.
Parking is located behind the property and is reached through a rear alley. Unit A is occupied and requires 24-hour notice for showings, while Unit B is available for showings with advance contact with the listing agent. The property is located at 806 E Park Avenue in Savannah, Georgia, and is zoned R3.
Parking is located behind the property and is reached through a rear alley. Unit A is occupied and requires 24-hour notice for showings, while Unit B is available for showings with advance contact with the listing agent. The property is located at 806 E Park Avenue in Savannah, Georgia, and is zoned R3.
Key Highlights
- 2,202‑square‑foot, two‑story duplex built in 1920
- Two units, each with 2 bedrooms, 2 bathrooms, and a living room
- Central HVAC in both residences
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 separate residences offer matching bedroom and bathroom layouts with full appliance packages and rear parking access.
Where is this duplex located?
The property is located at 806 E Park Avenue 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: 2,202‑square‑foot, two‑story duplex built in 1920; Two units, each with 2 bedrooms, 2 bathrooms, and a living room; Central HVAC in both residences
