Renovated Duplex with Updated
For Sale
$289,900
Pending
1177 Forest Street, Saint Paul, MN 55106
MULTI_FAMILY - Saint Paul, MN
Property Size1,744 SF
Lot Size0.11 Acres
Days on Market56
Property Features for 1177 Forest Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Basement, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 3
Parking features
Driveway
Exterior features
Stucco
Fencing
Chain Link
Subdivision
Eastville Heights
Lot features
Tree Coverage - Light
High school district
St. Paul
Directions
I-94 to White Bear Ave N; North to Maryland Ave E; West to Forest St N; North to home at 1177 Forest St. Property on right.
Standard status
Pending
APN
282922220019
Size
1,744 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4962
Utilities
Heating system
Baseboard, Forced Air
Building Details
Year built
1899
Roof type
Shingle
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 475-8000
Listed By:
Nicole L Stone
(952) 829-2900
Added: Jun 25
Changed: Aug 11
Last Checked: Aug 19 at 8:06PM
MLS# 7098867
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 completely renovated duplex is set up for comfortable, immediate occupancy with unit layouts that accommodate both owner-occupants and tenants. The main level includes a spacious three-bedroom unit, while the upper level features a two-bedroom unit. Renovations include updated kitchens (with new appliances) and bathrooms, along with new flooring, fresh paint, interior doors, and a new roof.
The property has separate utilities for each unit, with one shared water meter, supporting independent living while keeping operations streamlined. Exterior features include stucco construction and chain link fencing, and the home is served by baseboard and forced air heating. Roof type is shingle, and parking is available via a driveway.
Built in 1899, the duplex sits on a 0.114-acre lot and totals 1,744 square feet.
The property has separate utilities for each unit, with one shared water meter, supporting independent living while keeping operations streamlined. Exterior features include stucco construction and chain link fencing, and the home is served by baseboard and forced air heating. Roof type is shingle, and parking is available via a driveway.
Built in 1899, the duplex sits on a 0.114-acre lot and totals 1,744 square feet.
Key Highlights
- Completely renovated duplex with updated kitchens (new appliances), bathrooms, new flooring, paint, interior doors, and new roof
- Main level three‑bedroom unit with a separate upper two‑bedroom unit
- Separate utilities for each unit, with one shared water meter
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
$25,481
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
8.79%
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%
$509,620
$509.6K
Cap Rate 7%
$364,014
$364.0K
Cap Rate 9%
$283,122
$283.1K
Market Conditions
NOI Build-Up for 1,744 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
$38.7K $22.20/SF
− Vacancy
−$2.3K −$1.33/SF
EGI
$36.4K $20.87/SF
− OpEx
−$10.9K −$6.26/SF
NOI
$25.5K $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%
$509,620
Cap Rate 7%
$364,014
Cap Rate 9%
$283,122
Alternative Uses
Best Use
Multifamily LT 5
$364.0K
$318.5K – $424.7K
NOI $25,481 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$334.3K
$292.6K – $390.1K
NOI $23,404 @ 7.0% cap · market cap 8.07%
Theoretical Best
Healthcare Medical
$429.2K
$375.5K – $500.7K
NOI $30,042 @ 7.0% cap · market cap 10.36%
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
595
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
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex with updated kitchens, separate utilities, and driveway parking for owner-occupancy or rentals.
Where is this duplex located?
The property is located at 1177 Forest Street Saint Paul, MN.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Completely renovated duplex with updated kitchens (new appliances), bathrooms, new flooring, paint, interior doors, and new roof; Main level three‑bedroom unit with a separate upper two‑bedroom unit; Separate utilities for each unit, with one shared water meter
