Renovated Duplex with
For Sale
$525,000
856 E 35th Street, Savannah, GA 31401
Savannah, GA
Property Size2,004 SF
Price / SF$261.98
Days on Market52
Property Features for 856 E 35th Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4
Subdivision
Grayson Ward
Standard status
Active
Size
2,004 SF
Amenities
front porch
back porch
Building Details
Year built
1850
Listing Agency:
Engel & Volkers Savannah · Engel & Völkers
(912) 238-0874
Listed By:
Lana Halta Sanders · License #238482
(912) 507-4065
Added: Jul 15
Changed: Aug 20
Last Checked: Sep 4 at 7:06AM
MLS# SA352923
Copyright © 2026 Engel & Völkers. 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 duplex property offers 2,004 square feet across a historic main residence and a detached, one-level 1-bedroom, 1-bath cottage. Originally built in 1850, the property underwent a stud-to-finish renovation in 2019. The main home includes front and rear porches, an open-concept layout, large closets, granite countertops, stainless appliances, a built-in foyer bench with coat hooks, ceramic tile in the kitchen and foyer, updated LVP flooring, and two heating and cooling units. Off-street parking adds practical convenience.
The property is located in Savannah near downtown, the beach, and Truman Parkway, with shopping and restaurants also accessible from the surrounding area. The separate cottage and renovated main residence provide a flexible two-dwelling configuration within a low-maintenance property.
The property is located in Savannah near downtown, the beach, and Truman Parkway, with shopping and restaurants also accessible from the surrounding area. The separate cottage and renovated main residence provide a flexible two-dwelling configuration within a low-maintenance property.
Key Highlights
- 2,004 SF duplex property with a main residence and detached cottage
- Main home built in 1850 and renovated from the studs in 2019
- Detached one‑level cottage with 1 bedroom and 1 bath
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
$19,705
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
3.75%
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%
$394,100
$394.1K
Cap Rate 7%
$281,500
$281.5K
Cap Rate 9%
$218,944
$218.9K
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
$38.2K $19.08/SF
− Vacancy
−$2.4K −$1.20/SF
EGI
$35.8K $17.88/SF
− OpEx
−$16.1K −$8.05/SF
NOI
$19.7K $9.83/SF
Area
Savannah, GA
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$394,100
Cap Rate 7%
$281,500
Cap Rate 9%
$218,944
Alternative Uses
Best Use
Apartment 5plus
$281.5K
$246.3K – $328.4K
NOI $19,705 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
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
Yes
Highway access
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Two separate residences include a renovated main home and detached one-level cottage.
Where is this single family property located?
The property is located at 856 E 35th Street 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: 2,004 SF duplex property with a main residence and detached cottage; Main home built in 1850 and renovated from the studs in 2019; Detached one‑level cottage with 1 bedroom and 1 bath
