Updated Duplex with Three-Car
For Sale
$335,000
1303 Sherburne Ave, Saint Paul, MN 55104
Interior and exterior improvements include paint, flooring, kitchen and bathroom work, a newer boiler, and electrical panels.
Property Size1,596 SF
Price / SF$209.90
Days on Market8
Property Features for 1303 Sherburne Ave
General Information
Standard status
Active
Size
1,596 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Real Broker, LLC
(651) 587-7197
Listed By:
Tyler Nash
Source:
Homesminn
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 30 at 8:54PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 1,596-square-foot duplex, built in 1915, has undergone updates to its interiors and exterior. Work includes new flooring, fresh paint inside and out, kitchen and bathroom improvements, a newer boiler, and new electrical panels. A three-car garage adds substantial parking and storage capacity. The upper unit includes an unusually large bedroom, while the existing dining room could be reconfigured to create a second bedroom. Its large upper-level bathroom also presents an opportunity for further improvement.
The property is in Saint Paul’s Midway area on a quiet street, with light rail access nearby and Super Target within walking distance. It is also near the soccer stadium area, where additional development is planned. The layout and condition support either tenant occupancy or use by an owner occupant.
The property is in Saint Paul’s Midway area on a quiet street, with light rail access nearby and Super Target within walking distance. It is also near the soccer stadium area, where additional development is planned. The layout and condition support either tenant occupancy or use by an owner occupant.
Key Highlights
- 1,596‑square‑foot duplex with updates to paint, flooring, kitchen, bathrooms, boiler, and electrical panels
- Three‑car garage included
- Built in 1915
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
$23,319
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
6.96%
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%
$466,380
$466.4K
Cap Rate 7%
$333,129
$333.1K
Cap Rate 9%
$259,100
$259.1K
Market Conditions
NOI Build-Up for 1,596 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
$35.4K $22.20/SF
− Vacancy
−$2.1K −$1.33/SF
EGI
$33.3K $20.87/SF
− OpEx
−$10.0K −$6.26/SF
NOI
$23.3K $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%
$466,380
Cap Rate 7%
$333,129
Cap Rate 9%
$259,100
Alternative Uses
Best Use
Multifamily LT 5
$333.1K
$291.5K – $388.7K
NOI $23,319 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$306.0K
$267.7K – $357.0K
NOI $21,418 @ 7.0% cap · market cap 6.39%
Theoretical Best
Healthcare Medical
$392.8K
$343.7K – $458.2K
NOI $27,493 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,364
Businesses Nearby
Explore this area
Business Placement
Demographics for 55104, MN
45,612
Population
20,358
Households
2.2
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
6.0 sq mi
ZIP Area
7,602
Density / Sq Mi
$75,038
Median Household Income
$42,770
Median Earnings
$1,159
Median Rent
$290,900
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 - Interior and exterior improvements include paint, flooring, kitchen and bathroom work, a newer boiler, and electrical panels.
Where is this duplex located?
The property is located at 1303 Sherburne Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 1,596‑square‑foot duplex with updates to paint, flooring, kitchen, bathrooms, boiler, and electrical panels; Three‑car garage included; Built in 1915
