Updated Two-Unit
New
For Sale
$350,000
1603 Sherburne Ave, Saint Paul, MN 55104
Separate gas and electric meters allow utility costs to be billed independently to occupants.
Property Size1,920 SF
Price / SF$182.29
Days on Market6
Property Features for 1603 Sherburne Ave
General Information
Standard status
Active
Size
1,920 SF
Total Parking Spaces
3
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,286
Amenities
fenced-in yard
Building Details
Buildings
1
Listing Agency:
Ravenswood Realty
Listed By:
Bryan A Kranz
(612) 237-2489
Source:
Exprealty
Added: Oct 17
Changed: Oct 21
Last Checked: Oct 21 at 2:32AM
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 Ravenswood Realty
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Investment Insights
Based on property information with market context.
This 1,920-square-foot duplex has an upper and lower residence, each with two bedrooms. Both units are vacant. Interior work includes remodeled kitchens and bathrooms, replacement flooring, and fresh paint. Updated vinyl windows and a roof installed in 2023 are among the property’s other improvements. A fenced yard and a three-car garage complete the site.
The property is near Allianz Field and planned retail and residential development. Separate gas and electric meters support independent utility billing for occupants.
The property is near Allianz Field and planned retail and residential development. Separate gas and electric meters support independent utility billing for occupants.
Key Highlights
- 1,920‑square‑foot duplex with two bedrooms in each unit
- Vacant upper and lower residences
- Remodeled kitchens and bathrooms, new flooring, and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,053
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$561,060
$561.1K
Cap Rate 7%
$400,757
$400.8K
Cap Rate 9%
$311,700
$311.7K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$42.6K $22.20/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$40.1K $20.87/SF
− OpEx
−$12.0K −$6.26/SF
NOI
$28.1K $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 Rate 5%
$561,060
Cap Rate 7%
$400,757
Cap Rate 9%
$311,700
Alternative Uses
Best Use
Multifamily LT 5
$400.8K
$350.7K – $467.6K
NOI $28,053 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$368.1K
$322.1K – $429.4K
NOI $25,766 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$458.1K
$400.8K – $534.4K
NOI $32,065 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,986
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
Frequently Asked Questions
What type of property is this?
Duplex - Separate gas and electric meters allow utility costs to be billed independently to occupants.
Where is this duplex located?
The property is located at 1603 Sherburne Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,920‑square‑foot duplex with two bedrooms in each unit; Vacant upper and lower residences; Remodeled kitchens and bathrooms, new flooring, and fresh paint
