Updated
For Sale
$399,900
1512 Albemarle Street, Saint Paul, MN 55117
Residential Income, Saint Paul, MN
Property Size2,634 SF
Lot Size0.14 Acres
Price / SF$151.82
Days on Market105
Property Features for 1512 Albemarle Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 6, Bathroom 1, Bedroom 3, Basement, Bathroom 2, Bathroom 4, Bedroom 2
Exterior features
Vinyl
Subdivision
Rice Street Villas
High school district
St. Paul
Directions
Larpenteur to Albemarle street, south to home
Standard status
Active
APN
242923140134
Size
2,634 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8684
Utilities
Heating system
Forced Air
Building Details
Year built
2004
Building materials
Block
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 698-8006
Listed By:
Angella Meyer
(952) 829-2900
Added: May 20
Changed: Sep 1
Last Checked: Sep 1 at 10:06PM
MLS# 7103726
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 2,634-square-foot duplex, built in 2004, sits on a 0.142-acre lot and includes six bedrooms, four bathrooms, and a basement. Recent interior improvements include new appliances, flooring, paint, and light fixtures across the units. The property has vinyl exterior siding, block construction, and forced-air heating.
Located on Albemarle Street in Saint Paul, the property is situated on a tree-lined residential street near parks, schools, and restaurants. Its 55117 location places the duplex within the Saint Paul community and supports both residential occupancy and income-producing use.
Located on Albemarle Street in Saint Paul, the property is situated on a tree-lined residential street near parks, schools, and restaurants. Its 55117 location places the duplex within the Saint Paul community and supports both residential occupancy and income-producing use.
Key Highlights
- 2,634‑square‑foot duplex on a 0.142‑acre lot
- Six bedrooms, four bathrooms, and a basement
- New appliances, flooring, paint, and light fixtures
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 - Both units feature new appliances, flooring, paint, and light fixtures.
Where is this duplex located?
The property is located at 1512 Albemarle Street 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: 2,634‑square‑foot duplex on a 0.142‑acre lot; Six bedrooms, four bathrooms, and a basement; New appliances, flooring, paint, and light fixtures
