Two-Unit Duplex with Detached
For Sale
$265,000
233 4th Avenue N, South Saint Paul, MN 55075
MULTI_FAMILY - South Saint Paul, MN
Property Size1,422 SF
Lot Size0.11 Acres
Price / SF$186.36
Days on Market56
Property Features for 233 4th Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1, Bedroom 2, Bedroom 1
Parking features
Garage - Detached, Garage, Driveway, Open
Exterior features
Vinyl
Fencing
Privacy
Subdivision
South St Paul
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Light
High school district
South St. Paul
Directions
Hwy 52 to Wentworth south to Third east to 4th and north to home
Standard status
Active
APN
367030014060
Size
1,422 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3802
Utilities
Heating system
Oil, Hot Water(Heating)
Amenities
fenced backyard
privacy fence
landscaping
Building Details
Year built
1905
Building materials
Timber/Post & Beam
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 735-1350
Listed By:
Amy S Piggee · License #20484648
(952) 829-2900
Added: Jun 15
Changed: Aug 9
Last Checked: Aug 9 at 10:06PM
MLS# 7085688
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 1,422-square-foot duplex contains two residences arranged on separate levels, with one bedroom and one bathroom in each unit. Built in 1905, the property combines timber/post and beam construction with vinyl exterior materials and reported updates. Heating is provided by hot water and oil systems, and a basement adds storage or utility space.
The 0.11-acre parcel includes a fully fenced backyard with a privacy fence and landscaped grounds. A detached two-car garage is positioned at the rear, complemented by driveway and open off-street parking. Located in South Saint Paul, the property offers a compact residential income configuration with dedicated garage and outdoor features.
The 0.11-acre parcel includes a fully fenced backyard with a privacy fence and landscaped grounds. A detached two-car garage is positioned at the rear, complemented by driveway and open off-street parking. Located in South Saint Paul, the property offers a compact residential income configuration with dedicated garage and outdoor features.
Key Highlights
- Two‑unit duplex with one bedroom in each unit
- 1,422 square feet on a 0.11‑acre parcel
- Detached two‑car garage with driveway and open parking
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
$20,776
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
7.84%
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%
$415,520
$415.5K
Cap Rate 7%
$296,800
$296.8K
Cap Rate 9%
$230,844
$230.8K
Market Conditions
NOI Build-Up for 1,422 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
$31.6K $22.20/SF
− Vacancy
−$1.9K −$1.33/SF
EGI
$29.7K $20.87/SF
− OpEx
−$8.9K −$6.26/SF
NOI
$20.8K $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%
$415,520
Cap Rate 7%
$296,800
Cap Rate 9%
$230,844
Alternative Uses
Best Use
Multifamily LT 5
$296.8K
$259.7K – $346.3K
NOI $20,776 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$272.6K
$238.5K – $318.1K
NOI $19,083 @ 7.0% cap · market cap 7.20%
Theoretical Best
Healthcare Medical
$349.9K
$306.2K – $408.3K
NOI $24,495 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
Explore this area
Business Placement
Demographics for 55075, MN
20,749
Population
8,460
Households
2.5
Avg Household Size
37
Median Age
31%
College-Educated
93%
High-School Grad
5.6 sq mi
ZIP Area
3,705
Density / Sq Mi
$84,573
Median Household Income
$48,724
Median Earnings
$1,128
Median Rent
$267,000
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?
Duplex - Each residence includes one bedroom, while the fenced yard and rear parking support everyday residential use.
Where is this duplex located?
The property is located at 233 4th Avenue N South Saint Paul, MN.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑unit duplex with one bedroom in each unit; 1,422 square feet on a 0.11‑acre parcel; Detached two‑car garage with driveway and open parking
