Two-Unit Character
1432 Goodrich Avenue, Saint Paul, MN 55105
For Sale
$565,000
Pending
One apartment is vacant, while the other is leased through August 2027.
Property Size3,044 SF
Days on Market48
Property Features for 1432 Goodrich Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
gas fireplaces
hardwood floors
sunrooms
built-in buffets
rear deck
basement storage
workshop space
Building Details
Year Built
Buildings
Construction
Tenancy
Listing Agency:
Coldwell Banker Realty
(651) 227-9144
Listed By:
TJ Pierret
(651) 755-6669
Source:
Obviousrealestate
Added: Sep 23
Changed: Nov 9
Last Checked: Nov 8 at 5:43PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Built in 1921, this stucco duplex contains two 2-bedroom, 1-bathroom apartments, each approximately 1,305 square feet. Both feature hardwood floors, gas fireplaces, separate dining rooms with built-in buffets, sunrooms, and updated kitchen finishes. The upper apartment is vacant; the lower apartment is leased through August 2027. The property also includes basement storage and workshop space, a rear deck, and a detached two-car garage.
Recent work includes installation of two boilers in 2025 and replacement garage doors and openers in 2026. Common areas and stairways have fresh carpeting, and the deck, exterior doors, and window trim have been painted. The property is located at 1432 Goodrich Avenue in Saint Paul.
Recent work includes installation of two boilers in 2025 and replacement garage doors and openers in 2026. Common areas and stairways have fresh carpeting, and the deck, exterior doors, and window trim have been painted. The property is located at 1432 Goodrich Avenue in Saint Paul.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- Approximately 1,305 SF per unit; 3,044 SF property size
- Upper unit vacant; lower unit leased through August 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,475
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$889,500
$889.5K
Cap Rate 7%
$635,357
$635.4K
Cap Rate 9%
$494,167
$494.2K
Market Conditions
NOI Build-Up for 3,044 SF
Gross rent
$67.6K $22.20/SF
− Vacancy
−$4.0K −$1.33/SF
EGI
$63.5K $20.87/SF
− OpEx
−$19.1K −$6.26/SF
NOI
$44.5K $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 Rate 5%
$889,500
Cap Rate 7%
$635,357
Cap Rate 9%
$494,167
Alternative Uses
Best Use
Multifamily LT 5
$635.4K
$555.9K – $741.3K
NOI $44,475 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$583.6K
$510.6K – $680.8K
NOI $40,850 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$726.2K
$635.5K – $847.3K
NOI $50,836 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
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Business Placement
Demographics for 55105, MN
28,812
Population
12,045
Households
2.4
Avg Household Size
33
Median Age
78%
College-Educated
99%
High-School Grad
3.5 sq mi
ZIP Area
8,232
Density / Sq Mi
$108,200
Median Household Income
$51,131
Median Earnings
$1,240
Median Rent
$453,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Saint Paul, MN
Properties on Market for Duplexes in Saint Paul
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - One apartment is vacant, while the other is leased through August 2027.
Where is this duplex located?
The property is located at 1432 Goodrich Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; Approximately 1,305 SF per unit; 3,044 SF property size; Upper unit vacant; lower unit leased through August 2027
