Two-Home Duplex
New
For Sale
$255,000
2184 Minnehaha Ave E, Saint Paul, MN 55119
Two separate one-bedroom homes offer flexible occupancy or rental use on a shared residential parcel.
Property Size896 SF
Price / SF$284.60
Days on Market5
Property Features for 2184 Minnehaha Ave E
General Information
Standard status
Active
Size
896 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
RE/MAX Professionals
Listed By:
Anne M. Clancy
(651) 592-3754
Source:
Homesminn
Added: Sep 20
Last Checked: Sep 22 at 6:33PM
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 Professionals
Investment Insights
Based on property information with market context.
This duplex property comprises two separate one-bedroom, one-bath homes on a single lot, with 896 square feet of property size and a 1900 construction date. Each residence includes its own in-unit washer and dryer. The front home offers single-level living and is occupied under a month-to-month tenancy. The rear home is separate and private, with a side porch, lower patio, and large storage shed; it is ready for occupancy or a new tenant.
Water and trash service are shared between the homes, with those services paid by the landlord. Each residence has its own electric and gas service, paid individually. The property is located in Battle Creek near 3M, with an owner-occupant arrangement or continued rental operation supported by the two-home configuration.
Water and trash service are shared between the homes, with those services paid by the landlord. Each residence has its own electric and gas service, paid individually. The property is located in Battle Creek near 3M, with an owner-occupant arrangement or continued rental operation supported by the two-home configuration.
Key Highlights
- Two separate 1‑bedroom, 1‑bath homes on one lot
- 896 square feet of property size; built in 1900
- Both homes include in‑unit washer and dryer
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
$13,091
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
5.13%
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%
$261,820
$261.8K
Cap Rate 7%
$187,014
$187.0K
Cap Rate 9%
$145,456
$145.5K
Market Conditions
NOI Build-Up for 896 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
$19.9K $22.20/SF
− Vacancy
−$1.2K −$1.33/SF
EGI
$18.7K $20.87/SF
− OpEx
−$5.6K −$6.26/SF
NOI
$13.1K $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%
$261,820
Cap Rate 7%
$187,014
Cap Rate 9%
$145,456
Alternative Uses
Best Use
Multifamily LT 5
$187.0K
$163.6K – $218.2K
NOI $13,091 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$171.8K
$150.3K – $200.4K
NOI $12,024 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$213.8K
$187.1K – $249.4K
NOI $14,964 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 55119, MN
43,010
Population
16,806
Households
2.6
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
13.2 sq mi
ZIP Area
3,258
Density / Sq Mi
$77,870
Median Household Income
$42,860
Median Earnings
$1,351
Median Rent
$262,700
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?
Duplex - Two separate one-bedroom homes offer flexible occupancy or rental use on a shared residential parcel.
Where is this duplex located?
The property is located at 2184 Minnehaha Ave E Saint Paul, MN.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two separate 1‑bedroom, 1‑bath homes on one lot; 896 square feet of property size; built in 1900; Both homes include in‑unit washer and dryer
