Two-Unit Duplex with Finished
New
For Sale
$449,900
1518 Pacific St, Saint Paul, MN 55106
Separate three-bedroom and two-bedroom residences offer flexibility for owner occupancy, rental use, or multigenerational living.
Property Size2,591 SF
Price / SF$173.64
Days on Market2
Property Features for 1518 Pacific St
General Information
Standard status
Active
Size
2,591 SF
Property subtype
Multi-Family
Units
Unit Mix
3BR/1BA, 2BR/1BA
Multifamily Units
2
Amenities
patio
fire pit
garage
shed
Building Details
Year Built
1965
Buildings
1
Listing Agency:
RE/MAX Results
Listed By:
Lucas Hansen
(507) 402-0347
Source:
Searchhousesnow
Added: Sep 26
Last Checked: Sep 26 at 3:11PM
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 2,591-square-foot duplex, built in 1965, contains two separate residences: an upper-level three-bedroom, one-bathroom unit and a lower-level two-bedroom, one-bathroom unit. Improvements made within the past eight years include a roof, windows, tankless water heater, air-conditioning units, and a complete bathroom remodel in the lower unit.
The property also includes a finished, heated garage with dedicated 200-amp electrical service, plus an oversized shed. A large rear patio and fire pit provide additional outdoor space. Located in St. Paul between downtown and the eastern suburbs, the duplex can support owner occupancy, rental use, or multigenerational living.
The property also includes a finished, heated garage with dedicated 200-amp electrical service, plus an oversized shed. A large rear patio and fire pit provide additional outdoor space. Located in St. Paul between downtown and the eastern suburbs, the duplex can support owner occupancy, rental use, or multigenerational living.
Key Highlights
- Two units: 3 bedrooms and 1 bathroom upstairs; 2 bedrooms and 1 bathroom downstairs
- 2,591 square feet; built in 1965
- Updates within the past 8 years include roof, windows, tankless water heater, A/C units, and lower‑unit bathroom remodel
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
$37,856
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
8.41%
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%
$757,120
$757.1K
Cap Rate 7%
$540,800
$540.8K
Cap Rate 9%
$420,622
$420.6K
Market Conditions
NOI Build-Up for 2,591 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
$57.5K $22.20/SF
− Vacancy
−$3.4K −$1.33/SF
EGI
$54.1K $20.87/SF
− OpEx
−$16.2K −$6.26/SF
NOI
$37.9K $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 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%
$757,120
Cap Rate 7%
$540,800
Cap Rate 9%
$420,622
Alternative Uses
Best Use
Multifamily LT 5
$540.8K
$473.2K – $630.9K
NOI $37,856 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$496.7K
$434.6K – $579.5K
NOI $34,770 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$618.2K
$540.9K – $721.2K
NOI $43,271 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Explore this area
Business Placement
Demographics for 55106, MN
60,327
Population
19,974
Households
3
Avg Household Size
30
Median Age
23%
College-Educated
82%
High-School Grad
9.4 sq mi
ZIP Area
6,418
Density / Sq Mi
$68,601
Median Household Income
$39,834
Median Earnings
$1,230
Median Rent
$233,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate three-bedroom and two-bedroom residences offer flexibility for owner occupancy, rental use, or multigenerational living.
Where is this duplex located?
The property is located at 1518 Pacific St Saint Paul, MN.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two units: 3 bedrooms and 1 bathroom upstairs; 2 bedrooms and 1 bathroom downstairs; 2,591 square feet; built in 1965; Updates within the past 8 years include roof, windows, tankless water heater, A/C units, and lower‑unit bathroom remodel
