Remodeled Up-and-Down
For Sale
$249,900
1119 Reaney Ave, Saint Paul, MN 55106
Both residential units are occupied, with a backyard and access to downtown Saint Paul.
Property Size1,704 SF
Price / SF$146.65
Days on Market48
Property Features for 1119 Reaney Ave
General Information
Standard status
Active
Size
1,704 SF
Property subtype
Multi-Family
Building Details
Year Built
1898
Listing Agency:
RES Realty
(973) 356-7977
Listed By:
Shirzad Raimi
Source:
Searchhousesnow
Added: Jul 17
Changed: Aug 28
Last Checked: Aug 30 at 8:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RES Realty
Investment Insights
Based on property information with market context.
This up-and-down duplex contains 1,704 square feet and was remodeled in 2021. Built in 1898, the property includes two residential units arranged across the building’s upper and lower levels, along with a backyard. Both units are currently occupied.
The property is located at 1119 Reaney Ave in Saint Paul, near downtown. Showings require 24-hour notice.
The property is located at 1119 Reaney Ave in Saint Paul, near downtown. Showings require 24-hour notice.
Key Highlights
- Up‑and‑down duplex with two residential units
- 1,704 square feet of building area
- Remodeled in 2021
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
$22,867
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
9.15%
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%
$457,340
$457.3K
Cap Rate 7%
$326,671
$326.7K
Cap Rate 9%
$254,078
$254.1K
Market Conditions
NOI Build-Up for 1,704 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
$44.4K $26.04/SF
− Vacancy
−$2.8K −$1.64/SF
EGI
$41.6K $24.40/SF
− OpEx
−$18.7K −$10.98/SF
NOI
$22.9K $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%
$457,340
Cap Rate 7%
$326,671
Cap Rate 9%
$254,078
Alternative Uses
Best Use
Multifamily LT 5
$355.7K
$311.2K – $415.0K
NOI $24,897 @ 7.0% cap · market cap 9.96%
Second Best
Apartment 5plus
$326.7K
$285.8K – $381.1K
NOI $22,867 @ 7.0% cap · market cap 9.15%
Theoretical Best
Healthcare Medical
$419.3K
$366.9K – $489.2K
NOI $29,353 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Explore this area
Business Placement
Demographics for 55106, MN
60,327
Population
19,974
Households
3
Avg Household Size
30
Median Age
23%
College-Educated
82%
High-School Grad
9.4 sq mi
ZIP Area
6,418
Density / Sq Mi
$68,601
Median Household Income
$39,834
Median Earnings
$1,230
Median Rent
$233,000
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 - Both residential units are occupied, with a backyard and access to downtown Saint Paul.
Where is this duplex located?
The property is located at 1119 Reaney Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Up‑and‑down duplex with two residential units; 1,704 square feet of building area; Remodeled in 2021
