Duplex with Vacant and Month-to-Month
For Sale
$249,000
701 Desoto Street, Saint Paul, MN 55130
MULTI_FAMILY - Saint Paul, MN
Property Size1,519 SF
Lot Size0.05 Acres
Price / SF$163.92
Days on Market136
Property Features for 701 Desoto Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 6, Bathroom 2
Exterior features
Cement Board
Fencing
Chain Link
Lot features
Corner Lot
High school district
St. Paul
Directions
Edgerton to Minnehaha. West to Desoto, then south
Standard status
Active
APN
322922220025
Size
1,519 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4982
Utilities
Heating system
Forced Air
Building Details
Year built
1887
Listing Agency:
Keller Williams Classic Rlty NW · Keller Williams Realty
(763) 463-7500
Listed By:
Ashley Trulson
(763) 657-4444
Added: Mar 30
Changed: Aug 12
Last Checked: Aug 12 at 2:06AM
MLS# 7044104
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 includes two sides of living space, with one side currently vacant and the other side rented on a month-to-month lease. The property has forced-air heating and features cement board exterior material. Chain link fencing is included.
The duplex sits on a 0.05-acre lot and was built in 1887. Interior room layout includes multiple bedrooms and two bathrooms, along with a basement.
For prospective owners, the current occupancy setup provides flexibility to bring the vacant side back online while maintaining income from the month-to-month tenant.
The duplex sits on a 0.05-acre lot and was built in 1887. Interior room layout includes multiple bedrooms and two bathrooms, along with a basement.
For prospective owners, the current occupancy setup provides flexibility to bring the vacant side back online while maintaining income from the month-to-month tenant.
Key Highlights
- Built in 1887
- 0.05‑acre lot
- 1,519 SF duplex
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
$22,194
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
8.91%
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%
$443,880
$443.9K
Cap Rate 7%
$317,057
$317.1K
Cap Rate 9%
$246,600
$246.6K
Market Conditions
NOI Build-Up for 1,519 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
$33.7K $22.20/SF
− Vacancy
−$2.0K −$1.33/SF
EGI
$31.7K $20.87/SF
− OpEx
−$9.5K −$6.26/SF
NOI
$22.2K $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%
$443,880
Cap Rate 7%
$317,057
Cap Rate 9%
$246,600
Alternative Uses
Best Use
Multifamily LT 5
$317.1K
$277.4K – $369.9K
NOI $22,194 @ 7.0% cap · market cap 8.91%
Second Best
Apartment 5plus
$291.2K
$254.8K – $339.8K
NOI $20,385 @ 7.0% cap · market cap 8.19%
Theoretical Best
Healthcare Medical
$373.8K
$327.1K – $436.1K
NOI $26,166 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,245
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex offering one vacant side and one side rented on a month-to-month lease with forced-air heat.
Where is this duplex located?
The property is located at 701 Desoto Street Saint Paul, MN.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Built in 1887; 0.05‑acre lot; 1,519 SF duplex
