Renovated Two-Unit
For Sale
$439,900
812 E Park Ave, Savannah, GA 31401
Two updated units feature durable flooring, stainless steel appliances, and distinct residential layouts.
Property Size2,588 SF
Price / SF$169.98
Days on Market38
Property Features for 812 E Park Ave
General Information
Standard status
Active
Size
2,588 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Seaport Real Estate Group
(912) 228-0916
Listed By:
John R. Carr V · License #389664
Source:
Patrickrealestate
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 25 at 5:17AM
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 Seaport Real Estate Group
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,588 square feet across separate residences with different configurations. The lower unit provides two bedrooms and one bathroom, while the upper unit includes three bedrooms and two bathrooms. Renovations include LVP flooring and stainless steel appliances in both units. Built in 1900, the property combines its original construction date with updated interior finishes.
Located at 812 E Park Ave in Savannah, the duplex is within walking distance of SCAD. The property offers a clearly separated unit arrangement and varied floor plans within one multifamily asset.
Located at 812 E Park Ave in Savannah, the duplex is within walking distance of SCAD. The property offers a clearly separated unit arrangement and varied floor plans within one multifamily asset.
Key Highlights
- 2,588‑square‑foot duplex with two separate units
- Lower unit includes 2 bedrooms and 1 bathroom
- Upper unit includes 3 bedrooms and 2 bathrooms
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
$27,440
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
6.24%
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%
$548,800
$548.8K
Cap Rate 7%
$392,000
$392.0K
Cap Rate 9%
$304,889
$304.9K
Market Conditions
NOI Build-Up for 2,588 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
$41.9K $16.20/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$39.2K $15.15/SF
− OpEx
−$11.8K −$4.54/SF
NOI
$27.4K $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 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%
$548,800
Cap Rate 7%
$392,000
Cap Rate 9%
$304,889
Alternative Uses
Best Use
Multifamily LT 5
$392.0K
$343.0K – $457.3K
NOI $27,440 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$363.5K
$318.1K – $424.1K
NOI $25,447 @ 7.0% cap · market cap 5.78%
Theoretical Best
Warehouse
$2.42M
$2.12M – $2.82M
NOI $169,306 @ 7.0% cap · market cap 38.49%
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 updated units feature durable flooring, stainless steel appliances, and distinct residential layouts.
Where is this duplex located?
The property is located at 812 E Park Ave Savannah, GA.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: 2,588‑square‑foot duplex with two separate units; Lower unit includes 2 bedrooms and 1 bathroom; Upper unit includes 3 bedrooms and 2 bathrooms
