Updated Duplex with Covered
New
For Sale
$325,000
263 Lafond Avenue, Saint Paul, MN 55103
Up-and-down duplex with renovated interiors, separate storage, shared laundry, and convenient access to downtown amenities.
Property Size1,863 SF
Price / SF$174.45
Days on Market5
Property Features for 263 Lafond Avenue
General Information
Standard status
Active
Size
1,863 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 5BR/2BA
Multifamily Units
2
Amenities
stainless steel appliances
granite countertops
LVP flooring
covered back porch
storage shed
backyard with space for a garden
separate storage areas
shared laundry
Building Details
Year Built
1904
Listing Agency:
Central Mn Realty LLC
Listed By:
Michael Bartus
(952) 400-7000
Source:
Hometwincities
Added: Sep 20
Changed: Sep 23
Last Checked: Sep 22 at 4:05PM
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 Central Mn Realty LLC
Investment Insights
Based on property information with market context.
Built in 1904, this up-and-down duplex contains two residences with a combined 1,863 square feet. The lower unit includes 1 bedroom, 1 bathroom, an open-concept layout, natural light, and a covered back porch. The upper residence occupies the second and third floors and offers 5 bedrooms and 2 bathrooms. Both units feature stainless steel appliances, granite countertops, and LVP flooring.
Recent property improvements include a newer roof and boiler, each replaced in 2022. The property also includes a covered carport accommodating 4+ cars, a storage shed, and backyard space suitable for a garden. Separate basement storage areas serve each unit, while laundry facilities are shared. The location provides access to parks, hospitals, museums, shopping, dining, and other downtown amenities.
Recent property improvements include a newer roof and boiler, each replaced in 2022. The property also includes a covered carport accommodating 4+ cars, a storage shed, and backyard space suitable for a garden. Separate basement storage areas serve each unit, while laundry facilities are shared. The location provides access to parks, hospitals, museums, shopping, dining, and other downtown amenities.
Key Highlights
- Two‑unit duplex with 1,863 square feet built in 1904
- Lower unit offers 1 bedroom, 1 bathroom, open‑concept living, and a covered back porch
- Upper unit spans the second and third floors with 5 bedrooms and 2 bathrooms
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
$27,220
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
8.38%
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%
$544,400
$544.4K
Cap Rate 7%
$388,857
$388.9K
Cap Rate 9%
$302,444
$302.4K
Market Conditions
NOI Build-Up for 1,863 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
$41.4K $22.20/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$38.9K $20.87/SF
− OpEx
−$11.7K −$6.26/SF
NOI
$27.2K $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%
$544,400
Cap Rate 7%
$388,857
Cap Rate 9%
$302,444
Alternative Uses
Best Use
Multifamily LT 5
$388.9K
$340.3K – $453.7K
NOI $27,220 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$357.2K
$312.5K – $416.7K
NOI $25,001 @ 7.0% cap · market cap 7.69%
Theoretical Best
Healthcare Medical
$458.5K
$401.2K – $534.9K
NOI $32,092 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,221
Businesses Nearby
Explore this area
Business Placement
Demographics for 55103, MN
13,874
Population
5,652
Households
2.5
Avg Household Size
32
Median Age
27%
College-Educated
79%
High-School Grad
2.0 sq mi
ZIP Area
6,937
Density / Sq Mi
$47,872
Median Household Income
$35,625
Median Earnings
$1,040
Median Rent
$240,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Up-and-down duplex with renovated interiors, separate storage, shared laundry, and convenient access to downtown amenities.
Where is this duplex located?
The property is located at 263 Lafond Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,863 square feet built in 1904; Lower unit offers 1 bedroom, 1 bathroom, open‑concept living, and a covered back porch; Upper unit spans the second and third floors with 5 bedrooms and 2 bathrooms
