Renovated
For Sale
$289,900
Pending
1177 Forest Street, Saint Paul, MN 55106
Residential Income, Saint Paul, MN
Property Size1,744 SF
Lot Size0.11 Acres
Days on Market60
Property Features for 1177 Forest Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Basement, Bedroom 3, Bedroom 4, Bedroom 2
Parking features
Driveway
Exterior features
Stucco
Fencing
Chain Link
Subdivision
Eastville Heights
Lot features
Tree Coverage - Light
High school district
St. Paul
Directions
I-94 to White Bear Ave N; North to Maryland Ave E; West to Forest St N; North to home at 1177 Forest St. Property on right.
Standard status
Pending
APN
282922220019
Size
1,744 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4962
Utilities
Heating system
Baseboard, Forced Air
Building Details
Year built
1899
Roof type
Shingle
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 475-8000
Listed By:
Nicole L Stone
(952) 829-2900
Added: Jun 25
Changed: Aug 19
Last Checked: Aug 23 at 6:06PM
MLS# 7098867
Copyright © 2026 Northstar 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.
This duplex contains 1,744 square feet with a three-bedroom main-level residence and a two-bedroom upper-level residence. Recent improvements include remodeled kitchens with new appliances, refreshed bathrooms, new flooring, interior doors, paint, and a replacement roof. Baseboard and forced-air heating serve the property, while stucco siding, a shingle roof, chain-link fencing, and a driveway complete the exterior and mechanical profile.
Each unit has separate utilities, with water served through one shared meter. Built in 1899, the property occupies 0.114 acres in Saint Paul’s 55106 postal area. Shopping, dining, parks, and transportation are identified nearby, providing established neighborhood amenities for occupants.
Each unit has separate utilities, with water served through one shared meter. Built in 1899, the property occupies 0.114 acres in Saint Paul’s 55106 postal area. Shopping, dining, parks, and transportation are identified nearby, providing established neighborhood amenities for occupants.
Key Highlights
- 1,744‑square‑foot duplex with two separate residential units
- Three‑bedroom main‑level unit paired with a two‑bedroom upper‑level unit
- Updated kitchens include new appliances; bathrooms, flooring, doors, paint, and roof also improved
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
$25,481
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
8.79%
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%
$509,620
$509.6K
Cap Rate 7%
$364,014
$364.0K
Cap Rate 9%
$283,122
$283.1K
Market Conditions
NOI Build-Up for 1,744 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
$38.7K $22.20/SF
− Vacancy
−$2.3K −$1.33/SF
EGI
$36.4K $20.87/SF
− OpEx
−$10.9K −$6.26/SF
NOI
$25.5K $14.61/SF
Area
Dakota County, MN
Vacancy
5.98%
Lease Rate
$22.20 /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%
$509,620
Cap Rate 7%
$364,014
Cap Rate 9%
$283,122
Alternative Uses
Best Use
Multifamily LT 5
$364.0K
$318.5K – $424.7K
NOI $25,481 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$334.3K
$292.6K – $390.1K
NOI $23,404 @ 7.0% cap · market cap 8.07%
Theoretical Best
Healthcare Medical
$429.2K
$375.5K – $500.7K
NOI $30,042 @ 7.0% cap · market cap 10.36%
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
595
Businesses Nearby
Explore this area
Business Placement
Demographics for 55106, MN
60,327
Population
19,974
Households
3
Avg Household Size
30
Median Age
23%
College-Educated
82%
High-School Grad
9.4 sq mi
ZIP Area
6,418
Density / Sq Mi
$68,601
Median Household Income
$39,834
Median Earnings
$1,230
Median Rent
$233,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest 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?
Duplex - Updated two-unit property with separate electric utilities and distinct living spaces.
Where is this duplex located?
The property is located at 1177 Forest Street Saint Paul, MN.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 1,744‑square‑foot duplex with two separate residential units; Three‑bedroom main‑level unit paired with a two‑bedroom upper‑level unit; Updated kitchens include new appliances; bathrooms, flooring, doors, paint, and roof also improved
