Occupied
For Sale
$290,000
1199 Ross Ave, Saint Paul, MN 55106
Three residential units offer a mix of one- and two-bedroom layouts with separate access arrangements.
Property Size1,862 SF
Price / SF$155.75
Days on Market11
Property Features for 1199 Ross Ave
General Information
Standard status
Active
Size
1,862 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 1bed/1bath, 2 x 2beds/1bath
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,160
Listing Agency:
Partners Realty Inc.
(651) 340-5026
Listed By:
Hlao Xiong
(651) 340-5026
Source:
Exprealty
Added: Aug 2
Changed: Aug 8
Last Checked: Aug 11 at 1:09PM
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 Partners Realty Inc.
Investment Insights
Based on property information with market context.
This triplex contains three residential units with a practical bedroom mix. The front residence has one bedroom and one bathroom, while the other two units each provide two bedrooms and one bathroom. Two units are positioned on the main level, and the upper residence has a separate entrance arrangement.
All three units are currently occupied. The property is located at 1199 Ross Ave in Saint Paul, Minnesota, with designated front, side, and rear entry points serving the residences.
All three units are currently occupied. The property is located at 1199 Ross Ave in Saint Paul, Minnesota, with designated front, side, and rear entry points serving the residences.
Key Highlights
- Three‑unit residential property
- All units are fully occupied
- Unit mix includes one 1‑bedroom/1‑bath unit and two 2‑bedroom/1‑bath units
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
$24,988
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
8.62%
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%
$499,760
$499.8K
Cap Rate 7%
$356,971
$357.0K
Cap Rate 9%
$277,644
$277.6K
Market Conditions
NOI Build-Up for 1,862 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
$48.5K $26.04/SF
− Vacancy
−$3.1K −$1.64/SF
EGI
$45.4K $24.40/SF
− OpEx
−$20.4K −$10.98/SF
NOI
$25.0K $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%
$499,760
Cap Rate 7%
$356,971
Cap Rate 9%
$277,644
Alternative Uses
Best Use
Multifamily LT 5
$388.6K
$340.1K – $453.4K
NOI $27,205 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$357.0K
$312.4K – $416.5K
NOI $24,988 @ 7.0% cap · market cap 8.62%
Theoretical Best
Healthcare Medical
$458.2K
$400.9K – $534.6K
NOI $32,075 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
393
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?
Triplex - Three residential units offer a mix of one- and two-bedroom layouts with separate access arrangements.
Where is this triplex located?
The property is located at 1199 Ross Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Three‑unit residential property; All units are fully occupied; Unit mix includes one 1‑bedroom/1‑bath unit and two 2‑bedroom/1‑bath units
