Brick Quadplex with Four One-Bed
For Sale
$499,900
Pending
1088 Dayton Avenue, Saint Paul, MN 55104
Residential Income, Saint Paul, MN
Property Size3,400 SF
Lot Size0.08 Acres
Days on Market68
Property Features for 1088 Dayton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Basement, Bathroom 4, Bathroom 3
Parking features
On Street
Exterior features
Brick/Stone
Subdivision
Rogers Add To, St Paul
Lot features
Tree Coverage - Light
High school district
St. Paul
Directions
South on Lexington Parkway from I-94, Go East on Dayton Ave. The property is the second building from the corner of Lexington Parkway. Park on the street.
Standard status
Pending
APN
022823220068
Size
3,400 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9192
Utilities
Heating system
Oil
Building Details
Year built
1922
Building materials
Brick, Stone
Listing Agency:
Property Executives Realty
(715) 381-8297
Listed By:
Dana Cudd
(715) 381-8297
Added: Jun 13
Changed: Aug 19
Last Checked: Aug 19 at 9:06PM
MLS# 7092551
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 brick quadplex built in 1922 offers four separate one-bedroom, one-bath units. The property features exterior brick/stone construction and a covered entry, with interior character elements including natural woodwork, original trim, built-ins, and classic radiators. Upper-level units include hardwood floors and large windows that provide natural light, with living and dining layouts designed for everyday comfort.
The property is located at 1088 Dayton Avenue in Saint Paul, MN 55104 (Ramsey County). The lot size is 0.083 acres, and the total property size is 3,400 square feet. Heating is provided by oil, and parking is on street.
The building’s configuration of four independent units makes it well suited for an owner-occupant or investor looking for a small, manageable multi-family property with historic residential character.
The property is located at 1088 Dayton Avenue in Saint Paul, MN 55104 (Ramsey County). The lot size is 0.083 acres, and the total property size is 3,400 square feet. Heating is provided by oil, and parking is on street.
The building’s configuration of four independent units makes it well suited for an owner-occupant or investor looking for a small, manageable multi-family property with historic residential character.
Key Highlights
- Four one‑bedroom, one‑bath units
- 1922 brick quadplex with brick/stone exterior and covered entry
- 3,400 SF total property size
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
$45,627
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
9.13%
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%
$912,540
$912.5K
Cap Rate 7%
$651,814
$651.8K
Cap Rate 9%
$506,967
$507.0K
Market Conditions
NOI Build-Up for 3,400 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
$88.5K $26.04/SF
− Vacancy
−$5.6K −$1.64/SF
EGI
$83.0K $24.40/SF
− OpEx
−$37.3K −$10.98/SF
NOI
$45.6K $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%
$912,540
Cap Rate 7%
$651,814
Cap Rate 9%
$506,967
Alternative Uses
Best Use
Multifamily LT 5
$709.7K
$621.0K – $827.9K
NOI $49,676 @ 7.0% cap · market cap 9.94%
Second Best
Apartment 5plus
$651.8K
$570.3K – $760.5K
NOI $45,627 @ 7.0% cap · market cap 9.13%
Theoretical Best
Healthcare Medical
$836.7K
$732.1K – $976.1K
NOI $58,568 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,522
Businesses Nearby
Explore this area
Business Placement
Demographics for 55104, MN
45,612
Population
20,358
Households
2.2
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
6.0 sq mi
ZIP Area
7,602
Density / Sq Mi
$75,038
Median Household Income
$42,770
Median Earnings
$1,159
Median Rent
$290,900
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?
Quadplex - Four one-bedroom, one-bath units in a 1922 brick quadplex with oil heat and on-street parking.
Where is this quadplex located?
The property is located at 1088 Dayton Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units; 1922 brick quadplex with brick/stone exterior and covered entry; 3,400 SF total property size
