5-Bedroom
New
For Sale
$449,900
1518 Pacific Street, Saint Paul, MN 55106
Residential Income, Saint Paul, MN
Property Size2,591 SF
Lot Size0.20 Acres
Price / SF$173.64
Days on Market6
Property Features for 1518 Pacific Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 4
Subdivision
Angeline Add
High school district
St. Paul
Directions
61/10 (N) to Burns ave (E) to Birmingham (N) to Pacific (E)
Standard status
Active
APN
342922340026
Size
2,591 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8690
Utilities
Heating system
Forced Air
Amenities
patio
fire pit
heated garage
shed
Building Details
Year built
1965
Listing Agency:
RE/MAX Results · RE/MAX International
(612) 314-1520
Listed By:
Lucas Hansen
(952) 829-2900
Added: Sep 22
Changed: Sep 25
Last Checked: Sep 27 at 1:06PM
MLS# 7148576
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 2,591-square-foot duplex in Saint Paul contains two apartments: an upper unit with three bedrooms and one bathroom, and a lower unit with two bedrooms and one bathroom. Updates completed over the past 8 years include a roof, windows, tankless water heater, A/C units, and a remodeled lower-unit bathroom. The property was built in 1965 and sits on a 0.196-acre lot.
A heated, finished garage has dedicated 200-amp service. Outdoor features include a large patio, a fire pit, and an oversized shed. The property is situated between downtown Saint Paul and the eastern suburbs.
A heated, finished garage has dedicated 200-amp service. Outdoor features include a large patio, a fire pit, and an oversized shed. The property is situated between downtown Saint Paul and the eastern suburbs.
Key Highlights
- Two apartments: upper unit has 3 bedrooms and 1 bathroom; lower unit has 2 bedrooms and 1 bathroom
- 2,591 square feet on a 0.196‑acre lot
- Updates over the past 8 years include roof, windows, tankless water heater, A/C units, and a 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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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 upper and lower apartments offer a three-bedroom and a two-bedroom layout.
Where is this duplex located?
The property is located at 1518 Pacific Street 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 apartments: upper unit has 3 bedrooms and 1 bathroom; lower unit has 2 bedrooms and 1 bathroom; 2,591 square feet on a 0.196‑acre lot; Updates over the past 8 years include roof, windows, tankless water heater, A/C units, and a lower‑unit bathroom remodel
