Updated Triplex With Carriage
For Sale
$899,900
829 E 34th Street, Savannah, GA 31401
Three occupied residences include private laundry and access to outdoor space.
Property Size4,605 SF
Price / SF$195.42
Days on Market23
Property Features for 829 E 34th Street
General Information
Standard status
Active
Size
4,605 SF
Property subtype
Multi Family Home
Zoning
R4
Occupancy
100%
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,489
Amenities
private laundry facilities
outdoor space
Building Details
Building Size
4,605 SF
Year Built
1900
Buildings
2
Stories
2
Units
3
Listing Agency:
Keller Williams Coastal Area P
(912) 844-2579
Listed By:
Kristin Brown · License #301485
(912) 844-2579
Source:
Frankerealproperties
Added: Jul 20
Changed: Aug 8
Last Checked: Aug 11 at 1:12PM
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.
This R4-zoned triplex at 829 E 34th Street includes 4,605 square feet across three residences. The primary building contains a lower-level three-bedroom, two-bath apartment and an upper-level three-bedroom, one-and-a-half-bath apartment. A separate carriage house adds a one-bedroom, one-bath apartment above ground-level storage. The residences have been updated and include private laundry facilities and outdoor access.
Built in 1900, the property is located in Savannah near Downtown Savannah, the Starland District, SCAD, area hospitals, shopping, dining, and Tybee Island beaches. All three units are occupied, providing an existing residential income configuration within a single multifamily property.
Built in 1900, the property is located in Savannah near Downtown Savannah, the Starland District, SCAD, area hospitals, shopping, dining, and Tybee Island beaches. All three units are occupied, providing an existing residential income configuration within a single multifamily property.
Key Highlights
- 4,605‑square‑foot triplex with three occupied residences
- Main building includes 3‑bedroom, 2‑bath and 3‑bedroom, 1.5‑bath units
- Separate carriage house has a 1‑bedroom, 1‑bath apartment
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
$48,826
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
5.43%
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%
$976,520
$976.5K
Cap Rate 7%
$697,514
$697.5K
Cap Rate 9%
$542,511
$542.5K
Market Conditions
NOI Build-Up for 4,605 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
$74.6K $16.20/SF
− Vacancy
−$4.8K −$1.05/SF
EGI
$69.8K $15.15/SF
− OpEx
−$20.9K −$4.54/SF
NOI
$48.8K $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%
$976,520
Cap Rate 7%
$697,514
Cap Rate 9%
$542,511
Alternative Uses
Best Use
Multifamily LT 5
$697.5K
$610.3K – $813.8K
NOI $48,826 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$646.9K
$566.0K – $754.7K
NOI $45,280 @ 7.0% cap · market cap 5.03%
Theoretical Best
Warehouse
$4.30M
$3.77M – $5.02M
NOI $301,257 @ 7.0% cap · market cap 33.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,683
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residences include private laundry and access to outdoor space.
Where is this triplex located?
The property is located at 829 E 34th Street Savannah, GA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 4,605‑square‑foot triplex with three occupied residences; Main building includes 3‑bedroom, 2‑bath and 3‑bedroom, 1.5‑bath units; Separate carriage house has a 1‑bedroom, 1‑bath apartment
