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 statusCancelled
  • Property typeMulti Family
  • Total units2
  • Total bedrooms2
  • Total bathrooms2
  • Building size1128 sq. ft.
  • Lot size(unknown)
  • Year built1950
  • CountyChatham County
  • Subdivision
  • ConstructionCBS
  • 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 / 1 bath $600/month $7,200/year
  • Unit 2: 1 bed / 1 bath $600/month $7,200/year
  • Total $1,200/month $14,400/year
  • Expenses
  • Property Taxes $16/month $193/year
  • Insurance $67/month $800/year
  • Maintenance reserve $83/month $1,000/year
  • Total $166/month $1,993/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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