Duplex With 3-Car
New
For Sale
$335,000
1303 Sherburne Avenue, Saint Paul, MN 55104
Residential Income, Saint Paul, MN
Property Size1,596 SF
Lot Size0.11 Acres
Price / SF$209.90
Days on Market4
Property Features for 1303 Sherburne Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Basement, Bathroom 2
Parking features
Garage - Detached
Exterior features
Stucco
Subdivision
Syndicate 5 Add
High school district
St. Paul
Directions
Lexington Ave N to Sherburne Ave, go west to home.
Standard status
Active
APN
342923130158
Size
1,596 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4827
Utilities
Heating system
Hot Water(Heating), Oil
Building Details
Year built
1915
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Tyler Nash
(612) 600-6000
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 22 at 6:06PM
MLS# 7125403
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 1915 duplex contains 1,596 square feet on a 0.113-acre lot and includes two bathrooms, three bedrooms, a basement, and a detached three-car garage. Recent property work includes interior and exterior painting, new flooring, kitchen and bathroom improvements, a newer boiler, and new electrical panels. The exterior is finished in stucco and heating is provided by an oil-fired hot-water system.
The property is located on Sherburne Avenue in Saint Paul’s Midway area, with light rail access and a Super Target within walking distance. The upper unit includes an oversized bedroom and a dining room that could be reconfigured for an additional bedroom. The large upper-level bathroom also provides an opportunity for further updating.
The property is located on Sherburne Avenue in Saint Paul’s Midway area, with light rail access and a Super Target within walking distance. The upper unit includes an oversized bedroom and a dining room that could be reconfigured for an additional bedroom. The large upper-level bathroom also provides an opportunity for further updating.
Key Highlights
- 1,596‑square‑foot duplex on a 0.113‑acre lot
- Detached 3‑car garage
- 1915 construction with stucco exterior
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
$23,319
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
6.96%
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%
$466,380
$466.4K
Cap Rate 7%
$333,129
$333.1K
Cap Rate 9%
$259,100
$259.1K
Market Conditions
NOI Build-Up for 1,596 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
$35.4K $22.20/SF
− Vacancy
−$2.1K −$1.33/SF
EGI
$33.3K $20.87/SF
− OpEx
−$10.0K −$6.26/SF
NOI
$23.3K $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%
$466,380
Cap Rate 7%
$333,129
Cap Rate 9%
$259,100
Alternative Uses
Best Use
Multifamily LT 5
$333.1K
$291.5K – $388.7K
NOI $23,319 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$306.0K
$267.7K – $357.0K
NOI $21,418 @ 7.0% cap · market cap 6.39%
Theoretical Best
Healthcare Medical
$392.8K
$343.7K – $458.2K
NOI $27,493 @ 7.0% cap · market cap 8.21%
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
1,364
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
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 detached parking, transit access, and an upper-level layout offering additional bedroom potential.
Where is this duplex located?
The property is located at 1303 Sherburne Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 1,596‑square‑foot duplex on a 0.113‑acre lot; Detached 3‑car garage; 1915 construction with stucco exterior
