2048 Carroll Avenue, Saint Paul, MN 55104
MULTI_FAMILY - Saint Paul, MN
- Added:
- Apr 21, 2026
- Days on Market:
- 71
- Last Refresh:
- Jun 30 at 12:06 am
Property Features for 2048 Carroll Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bathroom 2, Bathroom 4, Bedroom 1, Bathroom 3, Basement, Bedroom 2, Bedroom 3, Bathroom 1
- Parking features
- Parking Lot, Garage - Detached
- Exterior features
- Vinyl
- Standard status
- Active
- APN
- 332923330084
- Size
- 2,860 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9086
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1900
- Building materials
- Frame
- Roof type
- Shingle
Listing agent Paul A Olson (612) 821-7400
Listing office Keller Williams Realty Integrity Lakes 800 N Washington Ave N Ste 460, Minneapolis, MN (612) 821-7400
Listing date Apr 21, 2026
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.
HighLights
- Over $49,000 annual income reported, with potential for additional income from utility sharing
- Victorian‑era charm with vinyl siding (maintenance‑free) and frame construction
- Four high‑efficiency forced‑air furnaces; central air could be added
- Detached garage plus parking lot, with oversized garage and ample storage including unused walk‑up attic
- Full basement and oversized yard on an oversized city lot
- Multiple bedrooms and bathrooms across Bedroom 1–4 and Bathroom 1–4 (plus basement)
Overview
Located in St. Paul’s Merriam Park neighborhood at 2048 Carroll Avenue (55104) in Ramsey County, the home sits on an oversized city lot. Public remarks describe the setting as peaceful, and the overall parcel size supports outdoor space in addition to the garage and interior storage.
The seller presents the asset as turn-key and easy to manage, with one unit described as ready for an owner-occupant buyer. The property is also reported to generate over $49,000 annually. For tenants, buyers, or owner-operators seeking a multi-family configuration with strong built-in storage and multiple heating systems, this layout may be well-suited for comfortable occupancy and straightforward oversight.
Local Financial Insights For Apartment 5plus
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 | $74.5k | $26.04 |
| − Vacancy | −$4.7k | −$1.64 |
| EGI | $69.8k | $24.40 |
| − OpEx | −$31.4k | −$10.98 |
| NOI | $38.4k | $13.42 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Saint Paul
- County
- Dakota
- State
- Minnesota
- Longitude
- -93.18675
- Latitude
- 44.950563
