Updated Two-Unit
New
For Sale
$325,000
263 Lafond Avenue, Saint Paul, MN 55103
Residential Income, Saint Paul, MN
Property Size1,863 SF
Lot Size0.11 Acres
Price / SF$174.45
Days on Market7
Property Features for 263 Lafond Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bedroom 1, Bathroom 2, Basement, Bedroom 4, Bedroom 2, Bedroom 3, Laundry Room, Bathroom 3, Bathroom 1, Bedroom 5
Parking features
Driveway, Carport
Patio and Porch features
Deck
Subdivision
Dawsons Third Add
High school district
St. Paul
Directions
Drive E on 694, exit onto 35E, exit 108 Cayuga, take a right on Pennsylvania Ave E, right on Thomas Ave, right on Galtier, left on Lafond Ave, property on your right.
Special listing conditions
Short Sale
Standard status
Active
APN
362923120159
Size
1,863 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5368
Utilities
Heating system
Hot Water(Heating), Oil, Radiant
Amenities
storage shed
backyard
space for a garden
covered back porch
separate storage areas
shared laundry
Building Details
Year built
1904
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Rose Moua
(612) 600-6000
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 10:06AM
MLS# 7147072
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.
Located at 263 Lafond Avenue in Saint Paul, this 1,863-square-foot duplex was built in 1904 and occupies a 0.11-acre lot. The lower residence includes 1 bedroom and 1 bathroom, while the upper residence spans the second and third floors with 5 bedrooms and 2 bathrooms. Both units have stainless steel appliances, granite countertops, and LVP flooring. A roof and boiler were replaced in 2022.
The basement includes separate storage areas for each residence and shared laundry. Exterior features include a covered carport accommodating 4+ cars, a driveway, a storage shed, a deck, and backyard space suitable for a garden. The property is near parks, hospitals, museums, shopping, dining, and downtown amenities. Heating includes radiant, oil, and hot water systems.
The basement includes separate storage areas for each residence and shared laundry. Exterior features include a covered carport accommodating 4+ cars, a driveway, a storage shed, a deck, and backyard space suitable for a garden. The property is near parks, hospitals, museums, shopping, dining, and downtown amenities. Heating includes radiant, oil, and hot water systems.
Key Highlights
- Two‑unit duplex with 1,863 square feet on a 0.11‑acre lot
- Lower unit has 1 bedroom and 1 bathroom
- 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
Check the figures for this property
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 - Two residential units combine updated interiors with covered parking, storage, and outdoor space.
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 on a 0.11‑acre lot; Lower unit has 1 bedroom and 1 bathroom; Upper unit spans the second and third floors with 5 bedrooms and 2 bathrooms
