Two-Story Apartment
For Sale
$1,365,786
Pending
1952 Maryland Ave E, Saint Paul, MN 55119
Two-story multifamily property with 17 units, off-street parking, and shared laundry facilities on a nearly half-acre lot.
Property Size4,944 SF
Lot Size0.50 Acres
Days on Market167
Property Features for 1952 Maryland Ave E
General Information
Standard status
Pending
Size
4,944 SF
Lot size
0.50 Acres
Additional Details
Multifamily Units
17
Taxes and HOA fees
Annual Taxes
$25,083
Amenities
off-street parking
pet-friendly policies
shared laundry facilities
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Premier Realty
(651) 379-5252
Listed By:
James Faillettaz · License #40879022
(612) 323-9332
Source:
Exprealty
Added: Mar 25
Changed: Aug 20
Last Checked: Sep 6 at 2:29PM
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 Premier Realty
Investment Insights
Based on property information with market context.
1952 Maryland Avenue East is a two-story multifamily community comprising 17 units. Built in the mid-1950s, the property offers a mix of one- and two-bedroom layouts. The community includes off-street parking and shared laundry facilities, and the building operates with a pet-friendly policy. The current unit mix includes upgraded units already achieving competitive rents, with additional opportunities for modernization and operational efficiencies.
The property is situated on a nearly half-acre lot and is presented for sale.
At roughly 4,944 square feet, the building provides a straightforward, repeatable residential income configuration with consistent demand referenced in the offering materials.
The property is situated on a nearly half-acre lot and is presented for sale.
At roughly 4,944 square feet, the building provides a straightforward, repeatable residential income configuration with consistent demand referenced in the offering materials.
Key Highlights
- Two‑story multifamily community with 17 units on a nearly half‑acre lot
- Approx. 4,944 SF building built in the mid‑1950s
- Unit mix includes one- and two‑bedroom layouts
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
$66,347
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
4.86%
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%
$1,326,940
$1.3M
Cap Rate 7%
$947,814
$947.8K
Cap Rate 9%
$737,189
$737.2K
Market Conditions
NOI Build-Up for 4,944 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
$128.7K $26.04/SF
− Vacancy
−$8.1K −$1.64/SF
EGI
$120.6K $24.40/SF
− OpEx
−$54.3K −$10.98/SF
NOI
$66.3K $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%
$1,326,940
Cap Rate 7%
$947,814
Cap Rate 9%
$737,189
Alternative Uses
Best Use
Apartment 5plus
$947.8K
$829.3K – $1.11M
NOI $66,347 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.22M
$1.06M – $1.42M
NOI $85,165 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Explore this area
Business Placement
Demographics for 55119, MN
43,010
Population
16,806
Households
2.6
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
13.2 sq mi
ZIP Area
3,258
Density / Sq Mi
$77,870
Median Household Income
$42,860
Median Earnings
$1,351
Median Rent
$262,700
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?
Apartment building - Two-story multifamily property with 17 units, off-street parking, and shared laundry facilities on a nearly half-acre lot.
Where is this apartment building located?
The property is located at 1952 Maryland Ave E Saint Paul, MN.
What is the asking price?
The asking price for this property is $1,365,786.
What are key features of this property?
This property features: Two‑story multifamily community with 17 units on a nearly half‑acre lot; Approx. 4,944 SF building built in the mid‑1950s; Unit mix includes one- and two‑bedroom layouts
