Brick
For Sale
$795,000
902 E 34th Street, Savannah, GA 31401
Residential Income, Savannah, GA
Property Size3,644 SF
Lot Size0.13 Acres
Price / SF$218.17
Days on Market220
Property Features for 902 E 34th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R4
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 2
Appliances
Electric Water Heater
Directions
From Waters Avenue heading North turn left onto 37th, turn right onto Harmon Street, turn right onto 34th, home will be on your left.
Standard status
Active
APN
2005523005
Size
3,644 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
73 74 GRAYSON WD
Legal Description
73 74 GRAYSON WD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
4
Building materials
Brick
Listing Agency:
Seabolt Real Estate
(912) 233-6609
Listed By:
Staci M. Donegan · License #345816
(912) 247-2052
Added: Jan 23
Changed: Aug 20
Last Checked: Aug 31 at 7:06PM
MLS# SA346886
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 902 E. 34th Street in Savannah, this quadplex provides 3,644 square feet within a 0.127-acre parcel. The 1940-built property has brick construction and a multifamily configuration suited to residential income use.
Building systems include central air conditioning, electric heating, and an electric water heater. Public water and public sewer serve the property. R4 zoning is reported for the site, and the property is positioned in Savannah’s Eastside area with access to major roadways.
Building systems include central air conditioning, electric heating, and an electric water heater. Public water and public sewer serve the property. R4 zoning is reported for the site, and the property is positioned in Savannah’s Eastside area with access to major roadways.
Key Highlights
- Quadplex with 3,644 square feet of building area
- 0.127‑acre parcel at 902 E. 34th Street, Savannah, GA 31401
- R4 zoning supports the property’s multifamily classification
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
$38,637
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
4.86%
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%
$772,740
$772.7K
Cap Rate 7%
$551,957
$552.0K
Cap Rate 9%
$429,300
$429.3K
Market Conditions
NOI Build-Up for 3,644 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
$59.0K $16.20/SF
− Vacancy
−$3.8K −$1.05/SF
EGI
$55.2K $15.15/SF
− OpEx
−$16.6K −$4.54/SF
NOI
$38.6K $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%
$772,740
Cap Rate 7%
$551,957
Cap Rate 9%
$429,300
Alternative Uses
Best Use
Multifamily LT 5
$552.0K
$483.0K – $644.0K
NOI $38,637 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$511.9K
$447.9K – $597.2K
NOI $35,831 @ 7.0% cap · market cap 4.51%
Theoretical Best
Warehouse
$3.41M
$2.98M – $3.97M
NOI $238,389 @ 7.0% cap · market cap 29.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - R4-zoned multifamily property with central air, electric heating, and public utilities.
Where is this quadplex located?
The property is located at 902 E 34th Street Savannah, GA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Quadplex with 3,644 square feet of building area; 0.127‑acre parcel at 902 E. 34th Street, Savannah, GA 31401; R4 zoning supports the property’s multifamily classification
