Remodeled Fourplex with Coin
For Sale
$525,000
1626 Englewood Avenue, Saint Paul, MN 55104
Residential Income, Saint Paul, MN
Property Size2,513 SF
Lot Size0.17 Acres
Price / SF$208.91
Days on Market9
Property Features for 1626 Englewood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bedroom 2, Laundry Room, Bedroom 1, Bedroom 4, Bathroom 3, Basement, Bedroom 3, Bathroom 2
Subdivision
Auditors Sub 50
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Light
High school district
St. Paul
Directions
Snelling to Englwood (W) to property.
Standard status
Active
APN
282923440061
Size
2,513 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11746
Utilities
Heating system
Oil
Amenities
coin operated laundry
Building Details
Year built
1900
Roof type
Shingle
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 251-4800
Listed By:
Reidell Estey & Associates - Marti Estey
(952) 829-2900
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 24 at 9:06AM
MLS# 7133336
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 fourplex contains 2,513 square feet across four updated residential units. Interior improvements include contemporary white kitchens, granite countertops, fully tiled ceramic bathrooms, updated windows, and separate electric panels for the house and individual units. The basement includes coin-operated laundry equipment. Building improvements also include a new boiler, PEX water lines, and a shingle roof. Constructed in 1900, the property occupies 0.166 acres and uses oil heat.
The property is located at 1626 Englewood Avenue in Saint Paul’s Midway area, within a short distance of Hamline University, light-rail service, and Allianz Stadium. Four bedrooms and four bathrooms are identified in the room information, along with a basement and laundry room.
The property is located at 1626 Englewood Avenue in Saint Paul’s Midway area, within a short distance of Hamline University, light-rail service, and Allianz Stadium. Four bedrooms and four bathrooms are identified in the room information, along with a basement and laundry room.
Key Highlights
- Fourplex with 2,513 square feet of property area
- Four updated residential units with contemporary kitchens and tiled bathrooms
- Coin‑operated laundry in the basement
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
$36,717
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
6.99%
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%
$734,340
$734.3K
Cap Rate 7%
$524,529
$524.5K
Cap Rate 9%
$407,967
$408.0K
Market Conditions
NOI Build-Up for 2,513 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
$55.8K $22.20/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$52.5K $20.87/SF
− OpEx
−$15.7K −$6.26/SF
NOI
$36.7K $14.61/SF
Area
Dakota 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%
$734,340
Cap Rate 7%
$524,529
Cap Rate 9%
$407,967
Alternative Uses
Best Use
Multifamily LT 5
$524.5K
$459.0K – $612.0K
NOI $36,717 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$481.8K
$421.6K – $562.1K
NOI $33,724 @ 7.0% cap · market cap 6.42%
Theoretical Best
Healthcare Medical
$618.4K
$541.1K – $721.5K
NOI $43,289 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,643
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
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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?
Quadplex - Four updated residential units with separate electric panels, refreshed building systems, and basement laundry equipment.
Where is this quadplex located?
The property is located at 1626 Englewood Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Fourplex with 2,513 square feet of property area; Four updated residential units with contemporary kitchens and tiled bathrooms; Coin‑operated laundry in the basement
