Renovated Duplex with Attached
For Sale
$529,000
Pending
235 Dakota Street, West Saint Paul, MN 55118
Residential Income, West Saint Paul, MN
Property Size2,286 SF
Lot Size0.34 Acres
Days on Market117
Property Features for 235 Dakota Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 2, Basement, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1
Parking features
Garage - Attached
Exterior features
Vinyl
Subdivision
Jackson & Bidwells Add
Lot features
Public Transit (w/in 6 blks)
High school district
West St. Paul-Mendota Hts.-Eagan
Directions
Charlton to Dakota. Near Harmon Park
Standard status
Pending
APN
423800042070
Size
2,286 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5306
Utilities
Heating system
Forced Air
Amenities
in-unit laundry
Building Details
Year built
1949
Building materials
Block
Listing Agency:
Keller Williams Premier Realty · Keller Williams Realty
(651) 439-4000
Listed By:
Brigg Backer
(651) 379-5252
Added: May 7
Changed: Aug 22
Last Checked: Aug 31 at 10:06AM
MLS# 7069694
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 2,286-square-foot duplex was built in 1949 and includes two residential units with six bedrooms, two bathrooms, and separate in-unit laundry. The property has received updates to both kitchens, including countertops, cabinetry, stainless appliances, backsplashes, flooring, lighting, and paint. Additional improvements include landscaping and a new roof.
Set on 0.335 acres in West Saint Paul, the property features block construction, vinyl exterior siding, forced-air heating, and an attached garage. Its setting provides access to freeways, restaurants, and surrounding cities. The layout and unit amenities support either owner occupancy or continued use as a residential income property.
Set on 0.335 acres in West Saint Paul, the property features block construction, vinyl exterior siding, forced-air heating, and an attached garage. Its setting provides access to freeways, restaurants, and surrounding cities. The layout and unit amenities support either owner occupancy or continued use as a residential income property.
Key Highlights
- 2,286‑square‑foot duplex with six bedrooms and two bathrooms
- 0.335‑acre lot in West Saint Paul
- Updated kitchens with stainless appliances, new cabinets, countertops, and backsplashes
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
$33,400
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
6.31%
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%
$668,000
$668.0K
Cap Rate 7%
$477,143
$477.1K
Cap Rate 9%
$371,111
$371.1K
Market Conditions
NOI Build-Up for 2,286 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
$50.7K $22.20/SF
− Vacancy
−$3.0K −$1.33/SF
EGI
$47.7K $20.87/SF
− OpEx
−$14.3K −$6.26/SF
NOI
$33.4K $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%
$668,000
Cap Rate 7%
$477,143
Cap Rate 9%
$371,111
Alternative Uses
Best Use
Multifamily LT 5
$477.1K
$417.5K – $556.7K
NOI $33,400 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$438.2K
$383.5K – $511.3K
NOI $30,677 @ 7.0% cap · market cap 5.80%
Theoretical Best
Healthcare Medical
$562.6K
$492.2K – $656.3K
NOI $39,379 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 55118, MN
29,106
Population
13,751
Households
2.1
Avg Household Size
43
Median Age
46%
College-Educated
94%
High-School Grad
10.5 sq mi
ZIP Area
2,772
Density / Sq Mi
$85,229
Median Household Income
$53,917
Median Earnings
$1,215
Median Rent
$331,800
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 - Two residential units offer in-unit laundry, updated kitchens, and forced-air heating.
Where is this duplex located?
The property is located at 235 Dakota Street West Saint Paul, MN.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: 2,286‑square‑foot duplex with six bedrooms and two bathrooms; 0.335‑acre lot in West Saint Paul; Updated kitchens with stainless appliances, new cabinets, countertops, and backsplashes
