616 W 47th Street, Savannah, GA
17.75% return
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Property Description

Cheap Duplex! Incredible Upside Potential. Comps up to $215K in the subdivision!!! New Roof. Huge rental demand in the area. Near the Savannah College of Art & Design. Needs renovation. Plans approved for 2 - 2/1's. 20%+ gross returns with a 17%+ cap rate is possible.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units2
  • Total bedrooms2
  • Total bathrooms2
  • Building size1128 sq. ft.
  • Lot size(unknown)
  • Year built1950
  • CountyChatham County
  • Subdivision
  • ConstructionCBS
  • RoofSHINGLE
  • Water sourceCity
  • Water disposalSewer
  • HeatingNONE
  • CoolingNONE

Property Financial Summary

  • Asking price $39,900
  • Estimated rehab 1 $30,000
  • Total investment $69,900
  • Type Proforma
  • After repair value $100,000
  • Potential profit $30,100
  • Gross income (annually) $14,400
  • Operating expenses (annually) $1,993
  • Net income (annually) $12,407
  • Gross return 20.60%
  • Gross income (monthly) $1,200
  • Operating expenses (monthly) $166
  • Net income (monthly) $1,034
  • Net return 17.75%

Property Income & Expenses

  • Income
  • Unit 1: 1 bed / bath $600/month
  • Unit 2: 1 bed / bath $600/month
  • Total $1,200/month
  • Expenses
  • Property Taxes $16/month
  • Insurance $67/month
  • Maintenance reserve $83/month
  • Total $166/month

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