7-Bedroom Duplex with Attached
New
For Sale
$599,900
1381 Easter Lane, Eagan, MN 55123
Each residence has a dedicated garage stall, with a finished lower level and patio access adding usable space.
Property Size2,924 SF
Price / SF$205.16
Days on Market2
Property Features for 1381 Easter Lane
General Information
Standard status
Active
Size
2,924 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
1974
Listing Agency:
Exit Realty Refined
Listed By:
The Antonov Group
(612) 445-4981
Source:
Theantonovgroup
Added: Oct 4
Last Checked: Oct 4 at 8:41AM
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 Exit Realty Refined
Investment Insights
Based on property information with market context.
Built in 1974, this Eagan duplex contains 2,924 finished square feet, including 2,113 square feet above grade and 811 below. The two homes have seven bedrooms and four bathrooms combined: one residence offers four bedrooms, while the other has three. A two-stall attached garage provides one stall per home. The lower level is finished and connects to patio space. Both kitchens have white cabinetry and wood-look floors; one features a remodeled kitchen and new appliances, while the other has appliances approximately three years old. Recent work also includes carpet, interior and exterior paint, HVAC equipment, a furnace, and garage doors. One living room features vaulted wood-plank ceilings, exposed beams, and a full-height stone fireplace. The property includes a fenced backyard and rear patios. It is served by Rosemount-Apple Valley-Eagan Schools, District 196.
Key Highlights
- 2,924 finished square feet: 2,113 above grade and 811 below
- Seven bedrooms and four bathrooms across two residences; bedroom counts are four and three
- Built in 1974; attached two‑stall garage with one stall per residence
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
$42,722
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
7.12%
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%
$854,440
$854.4K
Cap Rate 7%
$610,314
$610.3K
Cap Rate 9%
$474,689
$474.7K
Market Conditions
NOI Build-Up for 2,924 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
$64.9K $22.20/SF
− Vacancy
−$3.9K −$1.33/SF
EGI
$61.0K $20.87/SF
− OpEx
−$18.3K −$6.26/SF
NOI
$42.7K $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%
$854,440
Cap Rate 7%
$610,314
Cap Rate 9%
$474,689
Alternative Uses
Best Use
Multifamily LT 5
$610.3K
$534.0K – $712.0K
NOI $42,722 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$560.6K
$490.5K – $654.0K
NOI $39,239 @ 7.0% cap · market cap 6.54%
Theoretical Best
Healthcare Medical
$719.6K
$629.6K – $839.5K
NOI $50,369 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 55123, MN
27,153
Population
10,260
Households
2.6
Avg Household Size
40
Median Age
64%
College-Educated
99%
High-School Grad
10.8 sq mi
ZIP Area
2,514
Density / Sq Mi
$134,265
Median Household Income
$71,552
Median Earnings
$1,593
Median Rent
$442,000
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 - Each residence has a dedicated garage stall, with a finished lower level and patio access adding usable space.
Where is this duplex located?
The property is located at 1381 Easter Lane Eagan, MN.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,924 finished square feet: 2,113 above grade and 811 below; Seven bedrooms and four bathrooms across two residences; bedroom counts are four and three; Built in 1974; attached two‑stall garage with one stall per residence
