Updated Four-Unit Apartment
For Sale
$425,000
12 Linney St, Babbitt, MN 55706
Babbitt multifamily property with private and shared laundry, detached garages, and recent exterior improvements.
Property Size3,460 SF
Price / SF$122.83
Days on Market36
Property Features for 12 Linney St
General Information
Standard status
Active
Size
3,460 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
shared laundry area
private laundry
gas fireplace
Building Details
Year Built
1977
Buildings
2
Listing Agency:
Anchor Realty
(763) 257-5080
Listed By:
Chessica L Olson
Source:
Tayloronken
Added: Jul 26
Changed: Aug 29
Last Checked: Aug 25 at 5:32AM
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 Anchor Realty
Investment Insights
Based on property information with market context.
This four-unit multifamily property in Babbitt includes an owner’s residence alongside three additional units. The layout supports either owner occupancy with rental units on site or operation as a fully income-producing property. Detached garages add supplemental utility, while residents have access to a shared laundry area; the owner’s unit includes private laundry and a gas fireplace.
Both buildings have received roof replacements, along with siding updates and fresh exterior paint. Newer windows and other improvements contribute to the property’s updated condition. Built in 1977, the property is located at 12 Linney St near lakes, parks, snowmobile trails, ATV trails, and other outdoor recreation in the surrounding area.
Both buildings have received roof replacements, along with siding updates and fresh exterior paint. Newer windows and other improvements contribute to the property’s updated condition. Built in 1977, the property is located at 12 Linney St near lakes, parks, snowmobile trails, ATV trails, and other outdoor recreation in the surrounding area.
Key Highlights
- Four‑unit multifamily property with an owner’s unit and three additional rental units
- Roof replacements completed on both buildings
- Updated siding and fresh exterior paint
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
$30,833
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
7.25%
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%
$616,660
$616.7K
Cap Rate 7%
$440,471
$440.5K
Cap Rate 9%
$342,589
$342.6K
Market Conditions
NOI Build-Up for 3,460 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
$46.7K $13.50/SF
− Vacancy
−$2.7K −$0.77/SF
EGI
$44.0K $12.73/SF
− OpEx
−$13.2K −$3.82/SF
NOI
$30.8K $8.91/SF
Area
St. Louis County, MN
Vacancy
5.70%
Lease Rate
$13.50 /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%
$616,660
Cap Rate 7%
$440,471
Cap Rate 9%
$342,589
Alternative Uses
Best Use
Multifamily LT 5
$440.5K
$385.4K – $513.9K
NOI $30,833 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$404.8K
$354.2K – $472.3K
NOI $28,335 @ 7.0% cap · market cap 6.67%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.57M
NOI $93,953 @ 7.0% cap · market cap 22.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Explore this area
Business Placement
Demographics for 55706, MN
1,738
Population
1,132
Households
1.5
Avg Household Size
54
Median Age
22%
College-Educated
93%
High-School Grad
135.2 sq mi
ZIP Area
13
Density / Sq Mi
$60,096
Median Household Income
$40,888
Median Earnings
$726
Median Rent
$107,600
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?
Quadplex - Babbitt multifamily property with private and shared laundry, detached garages, and recent exterior improvements.
Where is this quadplex located?
The property is located at 12 Linney St Babbitt, MN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit multifamily property with an owner’s unit and three additional rental units; Roof replacements completed on both buildings; Updated siding and fresh exterior paint
