Modern Duplex with Unfinished Lower
For Sale
$489,000
274 Lafond Avenue, Saint Paul, MN 55103
Two three-bedroom units offer updated interiors, in-unit laundry, and separately metered utilities.
Property Size2,359 SF
Price / SF$207.29
Days on Market14
Property Features for 274 Lafond Avenue
General Information
Standard status
Active
Size
2,359 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
in-unit laundry
Building Details
Year Built
2021
Listing Agency:
National Realty Guild
(952) 472-6200
Listed By:
Eric Eickhof
(952) 472-6200
Source:
Fultonrealty
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 26 at 12:38PM
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 National Realty Guild
Investment Insights
Based on property information with market context.
Built in 2021, this duplex contains two 3-bedroom, 1-bathroom units with 2,359 square feet of finished property area. Each residence includes in-unit laundry, a contemporary kitchen with custom cabinetry and stainless steel appliances, and an updated bathroom with modern fixtures and tile finishes. Large windows, neutral flooring, and coordinated interior finishes create bright, functional living spaces.
The lower level remains unfinished and includes egress windows. An additional unit may be considered for future triplex use, subject to city approval, zoning, permitting, licensing, and other applicable requirements. Gas and electric service are separately metered for each unit. The property is located at 274 Lafond Avenue in Saint Paul, Minnesota, and offers the flexibility to occupy one residence while generating rental income from the other.
The lower level remains unfinished and includes egress windows. An additional unit may be considered for future triplex use, subject to city approval, zoning, permitting, licensing, and other applicable requirements. Gas and electric service are separately metered for each unit. The property is located at 274 Lafond Avenue in Saint Paul, Minnesota, and offers the flexibility to occupy one residence while generating rental income from the other.
Key Highlights
- Duplex built in 2021 with 2,359 square feet of finished property area
- Two units, each with 3 bedrooms and 1 full bathroom
- Unfinished lower level includes egress windows
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
$34,467
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%
$689,340
$689.3K
Cap Rate 7%
$492,386
$492.4K
Cap Rate 9%
$382,967
$383.0K
Market Conditions
NOI Build-Up for 2,359 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
$52.4K $22.20/SF
− Vacancy
−$3.1K −$1.33/SF
EGI
$49.2K $20.87/SF
− OpEx
−$14.8K −$6.26/SF
NOI
$34.5K $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%
$689,340
Cap Rate 7%
$492,386
Cap Rate 9%
$382,967
Alternative Uses
Best Use
Multifamily LT 5
$492.4K
$430.8K – $574.5K
NOI $34,467 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$452.2K
$395.7K – $527.6K
NOI $31,657 @ 7.0% cap · market cap 6.47%
Theoretical Best
Healthcare Medical
$580.5K
$508.0K – $677.3K
NOI $40,636 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,221
Businesses Nearby
Explore this area
Business Placement
Demographics for 55103, MN
13,874
Population
5,652
Households
2.5
Avg Household Size
32
Median Age
27%
College-Educated
79%
High-School Grad
2.0 sq mi
ZIP Area
6,937
Density / Sq Mi
$47,872
Median Household Income
$35,625
Median Earnings
$1,040
Median Rent
$240,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units offer updated interiors, in-unit laundry, and separately metered utilities.
Where is this duplex located?
The property is located at 274 Lafond Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Duplex built in 2021 with 2,359 square feet of finished property area; Two units, each with 3 bedrooms and 1 full bathroom; Unfinished lower level includes egress windows
