Multi-Family Residential
For Sale
$275,000
128 4th Avenue S, South Saint Paul, MN 55075
MULTI_FAMILY - South Saint Paul, MN
Property Size1,444 SF
Lot Size0.17 Acres
Price / SF$190.44
Days on Market60
Property Features for 128 4th Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Basement, Bathroom 1, Bedroom 4
Parking features
Garage - Detached
Exterior features
Vinyl, Wood
High school district
South St. Paul
Directions
494 to 5th Exit. Right to Southview, Right to 4th Ave. Left.
Standard status
Active
APN
363255009230
Size
1,444 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4916
Utilities
Heating system
Forced Air
Building Details
Year built
1900
Roof type
Shingle
Listing Agency:
Metzen Realty and Associates CO.
(651) 455-2214
Listed By:
Brian Solos
(763) 521-9500
Added: Jun 16
Changed: Aug 13
Last Checked: Aug 14 at 11:06PM
MLS# 7094225
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 multi-family residential property is offered for sale at 128 4th Avenue S in South Saint Paul, Minnesota. The property sits on a 0.172-acre lot and includes 1,444 square feet of living area.
Located in Dakota County, the asset is positioned in South Saint Paul (55075). Given the property type, it may be suitable for investors seeking residential income exposure, subject to local requirements and due diligence.
Prospective buyers can review the property’s layout and current condition through the listing materials and during their own inspection. All specifics regarding unit configuration, finishes, and any income or operating history should be confirmed directly with the seller or through available documentation.
Located in Dakota County, the asset is positioned in South Saint Paul (55075). Given the property type, it may be suitable for investors seeking residential income exposure, subject to local requirements and due diligence.
Prospective buyers can review the property’s layout and current condition through the listing materials and during their own inspection. All specifics regarding unit configuration, finishes, and any income or operating history should be confirmed directly with the seller or through available documentation.
Key Highlights
- Four bedrooms with two bathrooms plus a basement
- Detached garage provides parking
- Forced‑air heating
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
$19,378
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
7.05%
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%
$387,560
$387.6K
Cap Rate 7%
$276,829
$276.8K
Cap Rate 9%
$215,311
$215.3K
Market Conditions
NOI Build-Up for 1,444 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
$37.6K $26.04/SF
− Vacancy
−$2.4K −$1.64/SF
EGI
$35.2K $24.40/SF
− OpEx
−$15.9K −$10.98/SF
NOI
$19.4K $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%
$387,560
Cap Rate 7%
$276,829
Cap Rate 9%
$215,311
Alternative Uses
Best Use
Apartment 5plus
$276.8K
$242.2K – $323.0K
NOI $19,378 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$355.3K
$310.9K – $414.6K
NOI $24,874 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
661
Businesses Nearby
Explore this area
Business Placement
Demographics for 55075, MN
20,749
Population
8,460
Households
2.5
Avg Household Size
37
Median Age
31%
College-Educated
93%
High-School Grad
5.6 sq mi
ZIP Area
3,705
Density / Sq Mi
$84,573
Median Household Income
$48,724
Median Earnings
$1,128
Median Rent
$267,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Residential income property for sale in South Saint Paul on a 0.172-acre lot.
Where is this single family property located?
The property is located at 128 4th Avenue S South Saint Paul, MN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Four bedrooms with two bathrooms plus a basement; Detached garage provides parking; Forced‑air heating
