Quadplex with Detached Three-Car
For Sale
$749,900
1681 Dayton Avenue, Saint Paul, MN 55104
Residential Income, Saint Paul, MN
Property Size2,920 SF
Lot Size0.13 Acres
Price / SF$256.82
Days on Market42
Property Features for 1681 Dayton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Basement, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 2
Parking features
Open, Garage - Detached
Exterior features
Brick/Stone, Stucco
Subdivision
Oakland Park Addition, To The C
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Light
High school district
St. Paul
Directions
94 to Snelling Ave N, S to Dayton Ave, W to property
Standard status
Active
APN
042823110146
Size
2,920 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12107
Utilities
Heating system
Forced Air
Amenities
shared laundry facilities
ample basement storage
Building Details
Year built
1958
Building materials
Block, Frame
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 552-3600
Listed By:
Christopher J Ames · License #710057
(952) 829-2900
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 20 at 10:06AM
MLS# 7107652
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.
Four-unit quadplex at 1681 Dayton Avenue featuring brick/stone and stucco exterior finishes with block and frame construction. Built in 1958, the property is heated with forced air and offers resident-friendly interiors with hardwood floors, abundant natural light, and classic architectural details. Separate gas and electric meters simplify ownership, while shared laundry facilities support day-to-day convenience. Additional amenities include ample basement storage. Updated mechanical systems are in place, and residents benefit from off-street parking provided by a detached three-car garage.
Located in Saint Paul’s Merriam Park neighborhood, the property is positioned close to the University of St. Thomas and Macalester College, as well as the Mississippi River, neighborhood parks, restaurants, shopping, and public transit. Downtown access is also described as convenient for both commuting and day-to-day errands.
The building’s four-unit layout and thoughtfully maintained features make it a practical option for buyers seeking a well-maintained small multifamily investment.
Located in Saint Paul’s Merriam Park neighborhood, the property is positioned close to the University of St. Thomas and Macalester College, as well as the Mississippi River, neighborhood parks, restaurants, shopping, and public transit. Downtown access is also described as convenient for both commuting and day-to-day errands.
The building’s four-unit layout and thoughtfully maintained features make it a practical option for buyers seeking a well-maintained small multifamily investment.
Key Highlights
- Separate gas and electric meters for each unit
- Four‑unit quadplex with shared laundry facilities
- Detached three‑car garage plus off‑street parking
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
$42,663
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
5.69%
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%
$853,260
$853.3K
Cap Rate 7%
$609,471
$609.5K
Cap Rate 9%
$474,033
$474.0K
Market Conditions
NOI Build-Up for 2,920 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
$64.8K $22.20/SF
− Vacancy
−$3.9K −$1.33/SF
EGI
$60.9K $20.87/SF
− OpEx
−$18.3K −$6.26/SF
NOI
$42.7K $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%
$853,260
Cap Rate 7%
$609,471
Cap Rate 9%
$474,033
Alternative Uses
Best Use
Multifamily LT 5
$609.5K
$533.3K – $711.1K
NOI $42,663 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$559.8K
$489.8K – $653.1K
NOI $39,186 @ 7.0% cap · market cap 5.23%
Theoretical Best
Healthcare Medical
$718.6K
$628.8K – $838.3K
NOI $50,300 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,522
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?
Quadplex - Four-unit quadplex with separate gas and electric meters and shared laundry facilities.
Where is this quadplex located?
The property is located at 1681 Dayton Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Separate gas and electric meters for each unit; Four‑unit quadplex with shared laundry facilities; Detached three‑car garage plus off‑street parking
