Building Details

Year Built 1900

Listing Agency: RE/MAX Results

Listed By: Nicole L Stone Show Phone

Source: Homesearchlive

Added: Jul 20 Changed: Oct 4 Last Checked: Oct 7 at 1:10PM

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Investment Insights

Based on property information with market context.

This rebuilt duplex offers two distinct residences with private entrances and updated kitchens with contemporary lighting and finishes. The primary unit occupies the first floor and basement, with 4 bedrooms, 2 bathrooms, a living room, and a lower-level family room. The upper residence includes 2 bedrooms and 1 bathroom, creating a practical two-unit configuration.

Exterior features include a detached 2-car garage and fenced yard. The property is near Johnson Parkway and Lake Phalen, with bus routes, shops, restaurants, and other everyday amenities nearby. Built in 1900, the home combines an established structure with extensively refreshed interiors.

Key Highlights

• Two‑unit duplex with a 4‑bedroom, 2‑bath primary residence and a 2‑bedroom, 1‑bath upper unit
• Separate private entrances serve both units
• Rebuilt interiors include modern kitchens and updated lighting

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,731

Cap Rate

8.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$654,620 $654.6K

Cap Rate 7%

$467,586 $467.6K

Cap Rate 9%

$363,678 $363.7K

Market Conditions

NOI Build-Up for 2,439 SF

Gross rent

$63.5K $26.04/SF

− Vacancy

−$4.0K −$1.64/SF

EGI

$59.5K $24.40/SF

− OpEx

−$26.8K −$10.98/SF

NOI

$32.7K $13.42/SF

Area

Ramsey 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 Rate 5%

$654,620

Cap Rate 7%

$467,586

Cap Rate 9%

$363,678

Alternative Uses

Best Use

Multifamily LT 5

$509.1K

$445.5K – $593.9K (±1% cap)

NOI $35,636 @ 7.0% cap · market cap 9.77%

Second Best

Apartment 5plus

$467.6K

$409.1K – $545.5K (±1% cap)

NOI $32,731 @ 7.0% cap · market cap 8.97%

Theoretical Best

Office A

$581.9K

$509.2K – $678.9K (±1% cap)

NOI $40,733 @ 7.0% cap · market cap 11.16%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Parking Lot & Garage HVAC Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

997

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

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Corner-lot property with separate entrances, a detached garage, and a fenced yard.

Where is this duplex located?

The property is located at 1235 Minnehaha Ave E Saint Paul, MN.

What is the asking price?

The asking price for this property is $364,900.

What are key features of this property?

This property features: Two‑unit duplex with a 4‑bedroom, 2‑bath primary residence and a 2‑bedroom, 1‑bath upper unit; Separate private entrances serve both units; Rebuilt interiors include modern kitchens and updated lighting