Brick Triplex with Detached
For Sale
$409,900
1437 Minnehaha Avenue W, Saint Paul, MN 55104
Residential Income, Saint Paul, MN
Property Size2,568 SF
Lot Size0.14 Acres
Price / SF$159.62
Days on Market28
Property Features for 1437 Minnehaha Avenue W
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 4, Bathroom 3, Bedroom 2, Bedroom 5, Bathroom 2, Basement, Bedroom 3, Bathroom 1
Parking features
Garage - Detached
Exterior features
Brick/Stone
Subdivision
Sweitzers Add
Lot features
Public Transit (w/in 6 blks)
High school district
St. Paul
Directions
Snelling to Minnehaha Ave. East to home.
Standard status
Active
APN
272923340132
Size
2,568 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7152
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1919
Roof type
Shingle
Listing Agency:
Bridge Realty, LLC
Listed By:
Adam Alexander
(952) 368-0021
Added: Aug 19
Changed: Sep 15
Last Checked: Sep 15 at 3:06PM
MLS# 7116470
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,568-square-foot triplex was built in 1919 and features brick/stone exterior construction, shingle roofing, and hot water heat. The unit arrangement includes two 2-bedroom, 1-bath apartments and one 1-bedroom, 1-bath apartment. A detached one-stall garage provides on-site parking, while the 0.14-acre parcel includes basement space.
The property sits near Hamline University and Allianz Field, with access to the Green Line light rail, A Line BRT, I-94, downtown Saint Paul, and Minneapolis. Its location also places it near the Midway employment base and university-related rental demand.
The property sits near Hamline University and Allianz Field, with access to the Green Line light rail, A Line BRT, I-94, downtown Saint Paul, and Minneapolis. Its location also places it near the Midway employment base and university-related rental demand.
Key Highlights
- Three‑unit layout with two 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- 2,568 square feet on a 0.14‑acre parcel
- Detached one‑stall garage
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
$37,520
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
9.15%
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%
$750,400
$750.4K
Cap Rate 7%
$536,000
$536.0K
Cap Rate 9%
$416,889
$416.9K
Market Conditions
NOI Build-Up for 2,568 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
$57.0K $22.20/SF
− Vacancy
−$3.4K −$1.33/SF
EGI
$53.6K $20.87/SF
− OpEx
−$16.1K −$6.26/SF
NOI
$37.5K $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%
$750,400
Cap Rate 7%
$536,000
Cap Rate 9%
$416,889
Alternative Uses
Best Use
Multifamily LT 5
$536.0K
$469.0K – $625.3K
NOI $37,520 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$492.3K
$430.8K – $574.4K
NOI $34,462 @ 7.0% cap · market cap 8.41%
Theoretical Best
Healthcare Medical
$631.9K
$553.0K – $737.3K
NOI $44,236 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,562
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with a detached garage and convenient access to university, transit, employment, and downtown destinations.
Where is this triplex located?
The property is located at 1437 Minnehaha Avenue W Saint Paul, MN.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: Three‑unit layout with two 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; 2,568 square feet on a 0.14‑acre parcel; Detached one‑stall garage
