Renovated Duplex with
For Sale
$525,000
856 E 35th St, Savannah, GA 31401
Separate one-bedroom cottage complements the updated main residence.
Property Size2,004 SF
Price / SF$261.98
Days on Market41
Property Features for 856 E 35th St
General Information
Standard status
Active
Size
2,004 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
off street parking
Building Details
Year Built
1850
Year Renovated
2019
Buildings
2
Listing Agency:
Engel & Volkers
(912) 507-4065
Listed By:
Lana Halta Sanders · License #238482
Source:
Southeastgahomesearch
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 5:30AM
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 Engel & Volkers
Investment Insights
Based on property information with market context.
This duplex pairs a renovated historic main residence with a detached, single-level cottage offering one bedroom and one bathroom. Originally built in 1850, the main home underwent a studs-out renovation in 2019 and includes front and rear porches, an open-concept layout, generous closets, granite countertops, stainless steel appliances, and a built-in foyer bench with coat hooks. Ceramic tile accents the kitchen and foyer, while updated LVP flooring is used elsewhere. Two heating and cooling units serve the main residence, and off-street parking is provided.
The property is located at 856 E 35th St in Savannah, with access to downtown, the beach, and the Truman Parkway. Shopping and restaurants are also nearby. The detached cottage adds a separate one-bedroom, one-bathroom component to the overall duplex configuration.
The property is located at 856 E 35th St in Savannah, with access to downtown, the beach, and the Truman Parkway. Shopping and restaurants are also nearby. The detached cottage adds a separate one-bedroom, one-bathroom component to the overall duplex configuration.
Key Highlights
- Main residence renovated from the studs in 2019
- Detached one‑level cottage with 1 bedroom and 1 bathroom
- Historic main home originally built in 1850
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
$21,248
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
4.05%
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%
$424,960
$425.0K
Cap Rate 7%
$303,543
$303.5K
Cap Rate 9%
$236,089
$236.1K
Market Conditions
NOI Build-Up for 2,004 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
$32.5K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$30.4K $15.15/SF
− OpEx
−$9.1K −$4.54/SF
NOI
$21.2K $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%
$424,960
Cap Rate 7%
$303,543
Cap Rate 9%
$236,089
Alternative Uses
Best Use
Multifamily LT 5
$303.5K
$265.6K – $354.1K
NOI $21,248 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$281.5K
$246.3K – $328.4K
NOI $19,705 @ 7.0% cap · market cap 3.75%
Theoretical Best
Warehouse
$1.87M
$1.64M – $2.19M
NOI $131,101 @ 7.0% cap · market cap 24.97%
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
610
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 - Separate one-bedroom cottage complements the updated main residence.
Where is this duplex located?
The property is located at 856 E 35th St Savannah, GA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Main residence renovated from the studs in 2019; Detached one‑level cottage with 1 bedroom and 1 bathroom; Historic main home originally built in 1850
