Quadplex with Detached
For Sale
$850,000
1665 Dayton Ave, Saint Paul, MN 55104
Four matching two-bedroom units include period details, shared outdoor space, laundry, and separate storage.
Property Size4,138 SF
Price / SF$205.41
Days on Market40
Property Features for 1665 Dayton Ave
General Information
Standard status
Active
Size
4,138 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Amenities
shared outdoor common area
lower-level laundry
separate storage units
Building Details
Year Built
1914
Listing Agency:
Keller Williams Preferred Rlty
(612) 280-7983
Listed By:
Sara Anderson
Source:
Searchhousesnow
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 1:07PM
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 Keller Williams Preferred Rlty
Investment Insights
Based on property information with market context.
This 1914 quadplex contains four matching two-bedroom units, each complemented by original built-ins and hardwood details. The property is fully occupied and includes a shared outdoor area, lower-level laundry, separate storage units, and a detached two-car garage.
The building is located at 1665 Dayton Ave in Saint Paul’s Merriam Park, near Macalester College, the University of St. Thomas, and Concordia University. Local shops and restaurants are also nearby. Access to I-94, I-35E, and public transit supports connections throughout the area for residents, students, and commuters.
The building is located at 1665 Dayton Ave in Saint Paul’s Merriam Park, near Macalester College, the University of St. Thomas, and Concordia University. Local shops and restaurants are also nearby. Access to I-94, I-35E, and public transit supports connections throughout the area for residents, students, and commuters.
Key Highlights
- Four‑unit property with four identical 2‑bedroom apartments
- Fully occupied quadplex at 1665 Dayton Ave, Saint Paul, MN 55104
- 1914 construction with original built‑ins and hardwood details
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
$60,459
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
7.11%
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%
$1,209,180
$1.2M
Cap Rate 7%
$863,700
$863.7K
Cap Rate 9%
$671,767
$671.8K
Market Conditions
NOI Build-Up for 4,138 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
$91.9K $22.20/SF
− Vacancy
−$5.5K −$1.33/SF
EGI
$86.4K $20.87/SF
− OpEx
−$25.9K −$6.26/SF
NOI
$60.5K $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%
$1,209,180
Cap Rate 7%
$863,700
Cap Rate 9%
$671,767
Alternative Uses
Best Use
Multifamily LT 5
$863.7K
$755.7K – $1.01M
NOI $60,459 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$793.3K
$694.1K – $925.5K
NOI $55,531 @ 7.0% cap · market cap 6.53%
Theoretical Best
Healthcare Medical
$1.02M
$891.0K – $1.19M
NOI $71,281 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,522
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four matching two-bedroom units include period details, shared outdoor space, laundry, and separate storage.
Where is this quadplex located?
The property is located at 1665 Dayton Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four‑unit property with four identical 2‑bedroom apartments; Fully occupied quadplex at 1665 Dayton Ave, Saint Paul, MN 55104; 1914 construction with original built‑ins and hardwood details
