Updated Residential Income
For Sale
$300,000
241 Banfil St, Saint Paul, MN 55102
Income-producing residential property with separate utility service, in-unit laundry, refreshed windows, and recent mechanical improvements.
Property Size1,584 SF
Price / SF$189.39
Days on Market59
Property Features for 241 Banfil St
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Multi-Family
Amenities
in-unit laundry
Building Details
Year Built
1886
Listing Agency:
RE/MAX Results
Listed By:
Jason J Reed
(612) 332-9000
Source:
Chrisfritchteam
Added: Aug 28
Changed: Oct 3
Last Checked: Oct 24 at 8:36PM
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
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Investment Insights
Based on property information with market context.
This residential income property includes in-unit laundry and separate gas and electric service. The improvements include updated vinyl windows, recent subway tile shower and tub finishes, and two forced-air furnaces, both replaced within the past three years. The roof was replaced in 2020, while electrical and plumbing systems have been updated within the past 30 years.
The property is located at 241 Banfil St in Saint Paul, with Grand Casino Arena, Mancinni's, Parlour, Day by Day Cafe, and the Mississippi River within walking distance. The property size is 1,584.
The property is located at 241 Banfil St in Saint Paul, with Grand Casino Arena, Mancinni's, Parlour, Day by Day Cafe, and the Mississippi River within walking distance. The property size is 1,584.
Key Highlights
- 1,584 property size
- Two forced‑air furnaces replaced within the past 3 years
- Roof replacement completed in 2020
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,257
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,140
$425.1K
Cap Rate 7%
$303,671
$303.7K
Cap Rate 9%
$236,189
$236.2K
Market Conditions
NOI Build-Up for 1,584 SF
Gross rent
$41.2K $26.04/SF
− Vacancy
−$2.6K −$1.64/SF
EGI
$38.6K $24.40/SF
− OpEx
−$17.4K −$10.98/SF
NOI
$21.3K $13.42/SF
Area
Ramsey 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 Rate 5%
$425,140
Cap Rate 7%
$303,671
Cap Rate 9%
$236,189
Alternative Uses
Best Use
Apartment 5plus
$303.7K
$265.7K – $354.3K
NOI $21,257 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$377.9K
$330.7K – $440.9K
NOI $26,454 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,495
Businesses Nearby
Explore this area
Business Placement
Demographics for 55102, MN
20,355
Population
11,582
Households
1.8
Avg Household Size
39
Median Age
55%
College-Educated
96%
High-School Grad
3.3 sq mi
ZIP Area
6,168
Density / Sq Mi
$74,143
Median Household Income
$54,042
Median Earnings
$1,295
Median Rent
$280,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Residential income property - Income-producing residential property with separate utility service, in-unit laundry, refreshed windows, and recent mechanical improvements.
Where is this residential income property located?
The property is located at 241 Banfil St Saint Paul, MN.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,584 property size; Two forced‑air furnaces replaced within the past 3 years; Roof replacement completed in 2020
