Quadplex with New
New
For Sale
$510,000
429 Mount Ida Street, Saint Paul, MN 55130
Residential Income, Saint Paul, MN
Property Size3,288 SF
Lot Size0.12 Acres
Price / SF$155.11
Days on Market4
Property Features for 429 Mount Ida Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 3, Basement, Bedroom 2, Bedroom 8, Bedroom 7, Bedroom 6, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 3
Exterior features
Stucco
Subdivision
Warren & Winslows Add
High school district
St. Paul
Directions
35E S to University Ave. East on Lafeyette Rd. Left on Ostego St. Left on Mount Idea St to Property.
Standard status
Active
APN
322922220019
Size
3,288 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7749
Utilities
Heating system
Forced Air
Building Details
Year built
1890
Listing Agency:
Keller Williams Premier Realty · Keller Williams Realty
Listed By:
Thomas Geisler
(651) 379-1500
Added: Sep 4
Changed: Sep 7
Last Checked: Sep 7 at 9:06AM
MLS# 7136892
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 3,288-square-foot quadplex contains four residential units and was built in 1890. The property has a stucco exterior, forced-air heating, and a basement, with a 0.121-acre lot supporting the building. A new roof and new gutters were installed in 2025.
The property is in Saint Paul’s Railroad Island area, near the Village on Rivoli, Rivoli Bluff urban farm and orchard, Swede Hollow Park, and the Bruce Vento Trail. The existing rent roll includes long-term tenants and a combination of self-pay and voucher-assisted income. The basement and unit layouts may offer future reconfiguration opportunities, subject to egress and permitting requirements verified by the buyer with the City of Saint Paul.
The property is in Saint Paul’s Railroad Island area, near the Village on Rivoli, Rivoli Bluff urban farm and orchard, Swede Hollow Park, and the Bruce Vento Trail. The existing rent roll includes long-term tenants and a combination of self-pay and voucher-assisted income. The basement and unit layouts may offer future reconfiguration opportunities, subject to egress and permitting requirements verified by the buyer with the City of Saint Paul.
Key Highlights
- Four‑unit quadplex with 3,288 square feet
- New roof and new gutters completed in 2025
- Built in 1890 on a 0.121‑acre lot
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
$44,124
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
8.65%
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%
$882,480
$882.5K
Cap Rate 7%
$630,343
$630.3K
Cap Rate 9%
$490,267
$490.3K
Market Conditions
NOI Build-Up for 3,288 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
$85.6K $26.04/SF
− Vacancy
−$5.4K −$1.64/SF
EGI
$80.2K $24.40/SF
− OpEx
−$36.1K −$10.98/SF
NOI
$44.1K $13.42/SF
Area
Dakota County, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$882,480
Cap Rate 7%
$630,343
Cap Rate 9%
$490,267
Alternative Uses
Best Use
Multifamily LT 5
$686.3K
$600.5K – $800.7K
NOI $48,040 @ 7.0% cap · market cap 9.42%
Second Best
Apartment 5plus
$630.3K
$551.6K – $735.4K
NOI $44,124 @ 7.0% cap · market cap 8.65%
Theoretical Best
Healthcare Medical
$809.1K
$708.0K – $944.0K
NOI $56,639 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,831
Businesses Nearby
Explore this area
Business Placement
Demographics for 55130, MN
18,581
Population
6,368
Households
2.9
Avg Household Size
28
Median Age
21%
College-Educated
73%
High-School Grad
2.0 sq mi
ZIP Area
9,291
Density / Sq Mi
$53,281
Median Household Income
$36,740
Median Earnings
$1,151
Median Rent
$220,300
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 residential property with established occupancy, forced-air heat, stucco exterior, and a basement.
Where is this quadplex located?
The property is located at 429 Mount Ida Street Saint Paul, MN.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,288 square feet; New roof and new gutters completed in 2025; Built in 1890 on a 0.121‑acre lot
