Two-Unit Duplex with Separate
For Sale
$249,900
2184 Minnehaha Avenue E, Saint Paul, MN 55119
Residential Income, Saint Paul, MN
Property Size896 SF
Lot Size0.18 Acres
Price / SF$278.91
Days on Market8
Property Features for 2184 Minnehaha Avenue E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Laundry Room, Bathroom 1, Bathroom 2
Patio and Porch features
Porch, Patio
Subdivision
R L Wares Eastern Heights Acr Lt
High school district
St. Paul
Directions
Mcknight to Minnehaha, west one block to homes.
Standard status
Active
APN
352922110009
Size
896 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4674
Utilities
Heating system
Baseboard
Amenities
in-unit washer/dryer
side porch
storage shed
patio
Building Details
Year built
1900
Listing Agency:
RE/MAX Professionals · RE/MAX International
(651) 439-2222
Listed By:
Anne M. Clancy
(651) 455-7000
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 24 at 9:06AM
MLS# 7144433
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 duplex property consists of two separate one-bedroom, one-bath homes totaling 896 square feet on a 0.183-acre lot. The front residence provides single-level living and is occupied on a month-to-month tenancy, while the rear residence is ready for occupancy. Each home includes its own washer and dryer, along with separate electric and gas service. Baseboard heating serves the property.
Outdoor features include a porch, patio, and large storage shed. Water and trash service are shared between the residences, with water and trash paid by the landlord. The property is located in Saint Paul’s Battle Creek area near 3M and was built in 1900.
Outdoor features include a porch, patio, and large storage shed. Water and trash service are shared between the residences, with water and trash paid by the landlord. The property is located in Saint Paul’s Battle Creek area near 3M and was built in 1900.
Key Highlights
- Two separate one‑bedroom, one‑bath residences
- 896 square feet on a 0.183‑acre lot
- Front home occupied month to month; rear home ready for occupancy
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
$13,091
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
5.24%
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%
$261,820
$261.8K
Cap Rate 7%
$187,014
$187.0K
Cap Rate 9%
$145,456
$145.5K
Market Conditions
NOI Build-Up for 896 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
$19.9K $22.20/SF
− Vacancy
−$1.2K −$1.33/SF
EGI
$18.7K $20.87/SF
− OpEx
−$5.6K −$6.26/SF
NOI
$13.1K $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%
$261,820
Cap Rate 7%
$187,014
Cap Rate 9%
$145,456
Alternative Uses
Best Use
Multifamily LT 5
$187.0K
$163.6K – $218.2K
NOI $13,091 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$171.8K
$150.3K – $200.4K
NOI $12,024 @ 7.0% cap · market cap 4.81%
Theoretical Best
Healthcare Medical
$220.5K
$192.9K – $257.2K
NOI $15,434 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
232
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two one-level residences offer private living spaces, individual utilities, and in-unit laundry on a shared residential lot.
Where is this duplex located?
The property is located at 2184 Minnehaha Avenue E Saint Paul, MN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two separate one‑bedroom, one‑bath residences; 896 square feet on a 0.183‑acre lot; Front home occupied month to month; rear home ready for occupancy
