Duplex with Two-Car Detached
For Sale
$674,900
1200 Laurel Avenue, Saint Paul, MN 55104
MULTI_FAMILY - Saint Paul, MN
Property Size4,336 SF
Lot Size0.14 Acres
Price / SF$155.65
Days on Market51
Property Features for 1200 Laurel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 1, Basement, Bathroom 3, Bedroom 7, Bedroom 2
Parking features
Garage - Detached
Exterior features
Wood
Subdivision
Anna E Ramsey Add
Lot features
Tree Coverage - Medium
High school district
St. Paul
Directions
From Marshall Ave go South on Griggs east on Laurel
Standard status
Active
APN
032823140031
Size
4,336 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12248
Utilities
Heating system
Other (Heating), Oil
Building Details
Year built
1910
Building materials
Frame, Stone
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 735-1350
Listed By:
Cory P Kingbay
(952) 829-2900
Added: Jun 25
Changed: Aug 1
Last Checked: Aug 14 at 6:06PM
MLS# 7098683
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 offers two separate living spaces, featuring a 4-bedroom unit and a 3-bedroom unit. The home includes inviting front and rear porches, hardwood floors, and original woodwork. An updated kitchen with quartz countertops and upgraded stainless steel appliances is complemented by a modern bathroom.
The main level is currently occupied by long-term tenants, supporting ongoing residential rental use. The property includes a basement and a two-car detached garage, providing practical parking and storage.
Built in 1910, the exterior features wood. Construction materials include frame and stone, and heating includes oil heat and another heating source. The lot size is 0.137 acres, and the property size is 4,336 SF.
The main level is currently occupied by long-term tenants, supporting ongoing residential rental use. The property includes a basement and a two-car detached garage, providing practical parking and storage.
Built in 1910, the exterior features wood. Construction materials include frame and stone, and heating includes oil heat and another heating source. The lot size is 0.137 acres, and the property size is 4,336 SF.
Key Highlights
- 0.137‑acre duplex with 4,336 SF of living space
- 4‑bedroom and 3‑bedroom unit configuration
- Updated kitchen with quartz countertops and upgraded stainless steel appliances
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
$58,188
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
8.62%
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%
$1,163,760
$1.2M
Cap Rate 7%
$831,257
$831.3K
Cap Rate 9%
$646,533
$646.5K
Market Conditions
NOI Build-Up for 4,336 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
$112.9K $26.04/SF
− Vacancy
−$7.1K −$1.64/SF
EGI
$105.8K $24.40/SF
− OpEx
−$47.6K −$10.98/SF
NOI
$58.2K $13.42/SF
Area
Dakota County, MN
Vacancy
6.30%
Lease Rate
$26.04 /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%
$1,163,760
Cap Rate 7%
$831,257
Cap Rate 9%
$646,533
Alternative Uses
Best Use
Multifamily LT 5
$905.0K
$791.9K – $1.06M
NOI $63,352 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$831.3K
$727.4K – $969.8K
NOI $58,188 @ 7.0% cap · market cap 8.62%
Theoretical Best
Healthcare Medical
$1.07M
$933.7K – $1.24M
NOI $74,692 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,188
Businesses Nearby
Explore this area
Business Placement
Demographics for 55104, MN
45,612
Population
20,358
Households
2.2
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
6.0 sq mi
ZIP Area
7,602
Density / Sq Mi
$75,038
Median Household Income
$42,770
Median Earnings
$1,159
Median Rent
$290,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex on 0.137 acres with front and rear porches, two-car detached garage, and a kitchen updated with quartz counters.
Where is this duplex located?
The property is located at 1200 Laurel Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: 0.137‑acre duplex with 4,336 SF of living space; 4‑bedroom and 3‑bedroom unit configuration; Updated kitchen with quartz countertops and upgraded stainless steel appliances
