Remodeled Fourplex with Coin
New
For Sale
$525,000
1626 Englewood Ave, Saint Paul, MN 55104
Four updated residential units with modern kitchens, tiled bathrooms, and separate electrical panels support flexible ownership or rental use.
Property Size2,513 SF
Price / SF$208.91
Days on Market7
Property Features for 1626 Englewood Ave
General Information
Standard status
Active
Size
2,513 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
4
Amenities
coin-operated laundry
Building Details
Year Built
1900
Listing Agency:
RE/MAX Results
Listed By:
Reidell Estey & Associates – Marti Estey
(651) 442-9353
Source:
Bethanynelsongroup
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 22 at 7:26PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This fourplex contains four remodeled residential units within a 2,513-square-foot property built in 1900. Unit improvements include contemporary white kitchens with granite countertops and fully tiled ceramic bathrooms. The property also features updated windows, a new boiler, PEX water lines, and separate electric panels for the house and each unit. Coin-operated laundry is located in the basement.
The property is at 1626 Englewood Ave in Saint Paul’s Midway area, just blocks from Hamline University, light rail, and Allianz Stadium. Recent interior and exterior updates provide a substantially renovated configuration with dedicated electrical service for each unit.
The property is at 1626 Englewood Ave in Saint Paul’s Midway area, just blocks from Hamline University, light rail, and Allianz Stadium. Recent interior and exterior updates provide a substantially renovated configuration with dedicated electrical service for each unit.
Key Highlights
- Four fully updated residential units
- 2,513 square feet; built in 1900
- Contemporary white kitchens with granite countertops
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
$36,717
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
6.99%
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%
$734,340
$734.3K
Cap Rate 7%
$524,529
$524.5K
Cap Rate 9%
$407,967
$408.0K
Market Conditions
NOI Build-Up for 2,513 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
$55.8K $22.20/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$52.5K $20.87/SF
− OpEx
−$15.7K −$6.26/SF
NOI
$36.7K $14.61/SF
Area
Ramsey 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%
$734,340
Cap Rate 7%
$524,529
Cap Rate 9%
$407,967
Alternative Uses
Best Use
Multifamily LT 5
$524.5K
$459.0K – $612.0K
NOI $36,717 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$481.8K
$421.6K – $562.1K
NOI $33,724 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$599.5K
$524.6K – $699.5K
NOI $41,968 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,643
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four updated residential units with modern kitchens, tiled bathrooms, and separate electrical panels support flexible ownership or rental use.
Where is this quadplex located?
The property is located at 1626 Englewood Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Four fully updated residential units; 2,513 square feet; built in 1900; Contemporary white kitchens with granite countertops
