Updated Residential Income
For Sale
$499,000
1887 Saint Clair Ave, Saint Paul, MN 55105
Features hardwood flooring, original built-ins, a patio, and a yard.
Property Size2,080 SF
Price / SF$239.90
Days on Market16
Property Features for 1887 Saint Clair Ave
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$10,134
Listing Agency:
RE/MAX Results
(612) 850-2484
Listed By:
Butch Zelinsky · License #82798
(612) 850-2484
Source:
Exprealty
Added: Aug 7
Changed: Aug 20
Last Checked: Aug 21 at 12:37PM
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 residential income property includes an updated kitchen and bathrooms, hardwood flooring, and original built-in features. Outdoor space includes a yard and patio. The property is located on Saint Clair Ave in Saint Paul, Minnesota.
Key Highlights
- Updated kitchen and bathrooms
- Hardwood flooring throughout the property
- Original built‑in features
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
$27,913
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
5.59%
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%
$558,260
$558.3K
Cap Rate 7%
$398,757
$398.8K
Cap Rate 9%
$310,144
$310.1K
Market Conditions
NOI Build-Up for 2,080 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
$54.2K $26.04/SF
− Vacancy
−$3.4K −$1.64/SF
EGI
$50.8K $24.40/SF
− OpEx
−$22.8K −$10.98/SF
NOI
$27.9K $13.42/SF
Area
Dakota County, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$558,260
Cap Rate 7%
$398,757
Cap Rate 9%
$310,144
Alternative Uses
Best Use
Apartment 5plus
$398.8K
$348.9K – $465.2K
NOI $27,913 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$511.9K
$447.9K – $597.2K
NOI $35,830 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
722
Businesses Nearby
Explore this area
Business Placement
Demographics for 55105, MN
28,812
Population
12,045
Households
2.4
Avg Household Size
33
Median Age
78%
College-Educated
99%
High-School Grad
3.5 sq mi
ZIP Area
8,232
Density / Sq Mi
$108,200
Median Household Income
$51,131
Median Earnings
$1,240
Median Rent
$453,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Features hardwood flooring, original built-ins, a patio, and a yard.
Where is this residential income property located?
The property is located at 1887 Saint Clair Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Updated kitchen and bathrooms; Hardwood flooring throughout the property; Original built‑in features
