Duplex with Rental Income
1462 Carroll Avenue Saint Paul, MN 55104
New
1462 Carroll Avenue, Saint Paul, MN, 55104
$450,000
For Sale
$450,000
MULTI_FAMILY - Saint Paul, MN
Property Size2,346 SF
Lot Size0.17 Acres
Price / SF$191.82
Days on Market4
Property Features for 1462 Carroll Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 6, Bedroom 5, Basement, Bedroom 4
- Exterior features
- Stucco
- Fencing
- Chain Link
- Standard status
- Active
- APN
- 342923330138
- Size
- 2,346 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 7706
Utilities
- Heating system
- Hot Water(Heating)
Building Details
- Year built
- 1900
Listing Agency
Real Broker, LLC
(855) 450-0442
2355 Hwy. 36 W Suite 439, St. Paul, MN
Listed by
Jordan Stoltz
(612) 600-6000
Added: Jul 14 Checked: Jul 17 at 11:06 pm
MLS# 7109217
Listing URL
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 flexible layout and multiple living levels, with a total of 6 bedrooms and 4 bathrooms. The home includes three kitchens and three finished levels, with the upper unit spanning two levels and featuring private exterior decks on each level. The lower-level unit includes 2 bedrooms and 2 bathrooms and is currently occupied on a month-to-month basis at $1,800 per month.
Recent improvements include quartz countertops, updated kitchen cabinetry, renovated bathroom shower and vanity, updated flooring, replacement windows, stained decks, an upgraded electrical panel, new concrete front steps, a newer foundation, and a new boiler and water heater installed in 2022. Additional amenities include a fenced backyard and a detached garage stall with a private lockable storage room, along with multiple outdoor living spaces.
The upper unit is scheduled to be delivered vacant at closing, providing the option for an owner to move in or for the new owner to lease it at estimated market rent. The property also notes the possibility of a future triplex conversion, subject to buyer verification of all city and zoning requirements.
Recent improvements include quartz countertops, updated kitchen cabinetry, renovated bathroom shower and vanity, updated flooring, replacement windows, stained decks, an upgraded electrical panel, new concrete front steps, a newer foundation, and a new boiler and water heater installed in 2022. Additional amenities include a fenced backyard and a detached garage stall with a private lockable storage room, along with multiple outdoor living spaces.
The upper unit is scheduled to be delivered vacant at closing, providing the option for an owner to move in or for the new owner to lease it at estimated market rent. The property also notes the possibility of a future triplex conversion, subject to buyer verification of all city and zoning requirements.
Key Highlights
- Duplex with 6 bedrooms and 4 bathrooms, featuring 3 kitchens and 3 finished levels
- Lower‑level unit has 2 bed/2 bath and is rented month‑to‑month at $1,800/month
- Upper unit has 4 bedrooms/2 bathrooms across two levels with 2 kitchens and private exterior decks on each level
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.1k | $22.20 |
| − Vacancy | −$3.1k | −$1.33 |
| EGI | $49.0k | $20.87 |
| − OpEx | −$14.7k | −$6.26 |
| NOI | $34.3k | $14.61 |
2,346 SF · lease $22.20/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$489.7K
$428.5K – $571.3K
NOI $34,277 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$449.8K
$393.5K – $524.7K
NOI $31,483 @ 7.0% cap · market cap 7.00%
Theoretical Best
Healthcare Medical
$577.3K
$505.2K – $673.5K
NOI $40,412 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit duplex in Saint Paul with a month-to-month lower unit and multiple finished levels.
Where is this duplex located?
The property is located at 1462 Carroll Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Duplex with 6 bedrooms and 4 bathrooms, featuring 3 kitchens and 3 finished levels; Lower‑level unit has 2 bed/2 bath and is rented month‑to‑month at $1,800/month; Upper unit has 4 bedrooms/2 bathrooms across two levels with 2 kitchens and private exterior decks on each level
