Renovated
For Sale
$439,900
812 E Park Avenue, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size2,588 SF
Lot Size0.10 Acres
Price / SF$169.98
Days on Market77
Property Features for 812 E Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 5
Appliances
Electric Water Heater
Subdivision
Kelly
Directions
On Park headed west, the unit is on the right.
Standard status
Active
APN
2004212006
Size
2,588 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 5 KELLY WARD
Tax Annual Amount
4176
Legal Description
LOT 5 KELLY WARD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Brick
Listing Agency:
Seaport Real Estate Group
(912) 202-2042
Listed By:
John R. Carr V · License #389664
(912) 228-0916
Added: Jun 19
Changed: Aug 31
Last Checked: Sep 3 at 11:06AM
MLS# SA358453
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.
Located at 812 E Park Avenue in Savannah, this brick duplex contains 2,588 square feet and was built in 1900. The lower residence includes two bedrooms and one bathroom, while the upper residence provides three bedrooms and two bathrooms. Both units feature LVP flooring and stainless steel appliances, with central electric heating and cooling serving the property.
The 0.1047-acre parcel is within walking distance of SCAD and is zoned R4. Public water and public sewer serve the property, and an electric water heater is included. The two-unit configuration provides separate residential floor plans within one income-producing asset.
The 0.1047-acre parcel is within walking distance of SCAD and is zoned R4. Public water and public sewer serve the property, and an electric water heater is included. The two-unit configuration provides separate residential floor plans within one income-producing asset.
Key Highlights
- 2,588‑square‑foot duplex on a 0.1047‑acre lot
- Two‑bedroom, one‑bath lower unit and three‑bedroom, two‑bath upper unit
- Both residences updated with LVP flooring and stainless steel appliances
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 - Brick property offers two residential layouts with central heating and air conditioning.
Where is this duplex located?
The property is located at 812 E Park Avenue 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 on a 0.1047‑acre lot; Two‑bedroom, one‑bath lower unit and three‑bedroom, two‑bath upper unit; Both residences updated with LVP flooring and stainless steel appliances
