Updated Duplex with In-Unit
New
For Sale
$300,000
241 Banfil Street, Saint Paul, MN 55102
Residential Income, Saint Paul, MN
Property Size1,584 SF
Lot Size0.14 Acres
Price / SF$189.39
Days on Market3
Property Features for 241 Banfil Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2
Exterior features
Vinyl, Wood
Fencing
Chain Link
Subdivision
Le Ducs Add
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Heavy
High school district
St. Paul
Directions
West 7th to Dousman go east on Dousman and take an immediate left of Banfil. Follow to property on left.
Standard status
Active
APN
012823440067
Size
1,584 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5930
Utilities
Heating system
Forced Air
Amenities
in-unit laundry
Building Details
Year built
1886
Roof type
Shingle
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 484-8800
Listed By:
Jason J Reed
(952) 829-2900
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 28 at 12:06AM
MLS# 7133949
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 contains 1,584 square feet on a 0.143-acre lot and was built in 1886. Each unit includes in-unit laundry, while separate gas and electric service supports independent utility metering. The property has forced-air heating, vinyl and wood exterior elements, chain-link fencing, and a shingle roof.
Recent improvements include new furnaces installed within the past 3 years, updated windows, and subway tile shower and tub surrounds. Electrical and plumbing systems were replaced within the past 30 years, and the roof was replaced in 2020. The layout includes a basement, two bathrooms, and four bedrooms.
The property is in Saint Paul near Grand Casino Arena, Mancini's, Parlour, Day by Day Cafe, and the Mississippi River.
Recent improvements include new furnaces installed within the past 3 years, updated windows, and subway tile shower and tub surrounds. Electrical and plumbing systems were replaced within the past 30 years, and the roof was replaced in 2020. The layout includes a basement, two bathrooms, and four bedrooms.
The property is in Saint Paul near Grand Casino Arena, Mancini's, Parlour, Day by Day Cafe, and the Mississippi River.
Key Highlights
- 1,584 SF duplex on a 0.143‑acre lot
- New furnaces installed within the past 3 years
- Roof replaced in 2020
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
$23,143
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
7.71%
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%
$462,860
$462.9K
Cap Rate 7%
$330,614
$330.6K
Cap Rate 9%
$257,144
$257.1K
Market Conditions
NOI Build-Up for 1,584 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
$35.2K $22.20/SF
− Vacancy
−$2.1K −$1.33/SF
EGI
$33.1K $20.87/SF
− OpEx
−$9.9K −$6.26/SF
NOI
$23.1K $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%
$462,860
Cap Rate 7%
$330,614
Cap Rate 9%
$257,144
Alternative Uses
Best Use
Multifamily LT 5
$330.6K
$289.3K – $385.7K
NOI $23,143 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$303.7K
$265.7K – $354.3K
NOI $21,257 @ 7.0% cap · market cap 7.09%
Theoretical Best
Healthcare Medical
$389.8K
$341.1K – $454.8K
NOI $27,286 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,495
Businesses Nearby
Explore this area
Business Placement
Demographics for 55102, MN
20,355
Population
11,582
Households
1.8
Avg Household Size
39
Median Age
55%
College-Educated
96%
High-School Grad
3.3 sq mi
ZIP Area
6,168
Density / Sq Mi
$74,143
Median Household Income
$54,042
Median Earnings
$1,295
Median Rent
$280,400
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-unit property with separate gas and electric service, forced-air heating, and recent mechanical and interior updates.
Where is this duplex located?
The property is located at 241 Banfil Street Saint Paul, MN.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,584 SF duplex on a 0.143‑acre lot; New furnaces installed within the past 3 years; Roof replaced in 2020
