Four-Unit Property with
For Sale
$749,900
1681 Dayton Ave, Saint Paul, MN 55104
Four apartments feature hardwood floors, shared laundry, basement storage, and separate gas and electric meters.
Property Size2,920 SF
Price / SF$256.82
Days on Market29
Property Features for 1681 Dayton Ave
General Information
Standard status
Active
Size
2,920 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Amenities
shared laundry
basement storage
Building Details
Year Built
1958
Listing Agency:
RE/MAX Results
(651) 230-9200
Listed By:
Christopher J Ames · License #710057
Source:
Tayloronken
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 29 at 11:32AM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This four-unit residential property offers 2,920 square feet across apartments with hardwood flooring, abundant natural light, spacious living areas, and preserved architectural character. Separate gas and electric meters support unit-level utility management, while updated mechanical systems, shared laundry, and basement storage add practical functionality. The property was built in 1958 and includes a detached three-car garage with off-street parking.
The building is located at 1681 Dayton Ave in Saint Paul’s Merriam Park neighborhood, near the University of St. Thomas, Macalester College, the Mississippi River, neighborhood parks, restaurants, shopping, and public transit. Downtown Saint Paul and downtown Minneapolis are also accessible from the property.
The building is located at 1681 Dayton Ave in Saint Paul’s Merriam Park neighborhood, near the University of St. Thomas, Macalester College, the Mississippi River, neighborhood parks, restaurants, shopping, and public transit. Downtown Saint Paul and downtown Minneapolis are also accessible from the property.
Key Highlights
- Four‑unit residential property with 2,920 square feet
- Detached three‑car garage with off‑street parking
- Separate gas and electric meters for the apartments
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
$42,663
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
5.69%
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%
$853,260
$853.3K
Cap Rate 7%
$609,471
$609.5K
Cap Rate 9%
$474,033
$474.0K
Market Conditions
NOI Build-Up for 2,920 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
$64.8K $22.20/SF
− Vacancy
−$3.9K −$1.33/SF
EGI
$60.9K $20.87/SF
− OpEx
−$18.3K −$6.26/SF
NOI
$42.7K $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%
$853,260
Cap Rate 7%
$609,471
Cap Rate 9%
$474,033
Alternative Uses
Best Use
Multifamily LT 5
$609.5K
$533.3K – $711.1K
NOI $42,663 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$559.8K
$489.8K – $653.1K
NOI $39,186 @ 7.0% cap · market cap 5.23%
Theoretical Best
Healthcare Medical
$718.6K
$628.8K – $838.3K
NOI $50,300 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
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 apartments feature hardwood floors, shared laundry, basement storage, and separate gas and electric meters.
Where is this quadplex located?
The property is located at 1681 Dayton Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Four‑unit residential property with 2,920 square feet; Detached three‑car garage with off‑street parking; Separate gas and electric meters for the apartments
