Updated
For Sale
$399,900
1512 Albemarle St, Saint Paul, MN 55117
Two residential units include refreshed appliances, flooring, lighting, and paint.
Property Size2,634 SF
Price / SF$151.82
Days on Market15
Property Features for 1512 Albemarle St
General Information
Standard status
Active
Size
2,634 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2004
Listing Agency:
RE/MAX Results
(612) 644-5400
Listed By:
Angella Meyer
Source:
Searchhousesnow
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 30 at 8:38PM
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 2004-built duplex contains 2,634 square feet across two residential units. Recent improvements include new appliances, updated flooring, fresh paint, and replacement light fixtures, providing a refreshed interior presentation for both units. Exterior curb appeal has also been maintained.
The property is located at 1512 Albemarle St in Saint Paul, Minnesota. Parks, schools, and restaurants are described as minutes away, placing everyday amenities within convenient reach.
The property is located at 1512 Albemarle St in Saint Paul, Minnesota. Parks, schools, and restaurants are described as minutes away, placing everyday amenities within convenient reach.
Key Highlights
- Duplex with 2,634 square feet
- Built in 2004
- Two residential units
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
$35,348
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
8.84%
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%
$706,960
$707.0K
Cap Rate 7%
$504,971
$505.0K
Cap Rate 9%
$392,756
$392.8K
Market Conditions
NOI Build-Up for 2,634 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
$68.6K $26.04/SF
− Vacancy
−$4.3K −$1.64/SF
EGI
$64.3K $24.40/SF
− OpEx
−$28.9K −$10.98/SF
NOI
$35.3K $13.42/SF
Area
Dakota County, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$706,960
Cap Rate 7%
$504,971
Cap Rate 9%
$392,756
Alternative Uses
Best Use
Multifamily LT 5
$549.8K
$481.1K – $641.4K
NOI $38,485 @ 7.0% cap · market cap 9.62%
Second Best
Apartment 5plus
$505.0K
$441.9K – $589.1K
NOI $35,348 @ 7.0% cap · market cap 8.84%
Theoretical Best
Healthcare Medical
$648.2K
$567.2K – $756.2K
NOI $45,373 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Explore this area
Business Placement
Demographics for 55117, MN
44,525
Population
17,784
Households
2.5
Avg Household Size
34
Median Age
33%
College-Educated
87%
High-School Grad
9.2 sq mi
ZIP Area
4,840
Density / Sq Mi
$71,784
Median Household Income
$43,366
Median Earnings
$1,178
Median Rent
$262,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include refreshed appliances, flooring, lighting, and paint.
Where is this duplex located?
The property is located at 1512 Albemarle St Saint Paul, MN.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Duplex with 2,634 square feet; Built in 2004; Two residential units
