Six-Bedroom
For Sale
$410,000
275 Western Avenue S, Saint Paul, MN 55102
Residential Income, Saint Paul, MN
Property Size2,098 SF
Lot Size0.09 Acres
Price / SF$195.42
Days on Market181
Property Features for 275 Western Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 2
Parking features
Driveway, Covered
Exterior features
Stucco
Subdivision
Watson & Rices Sub C
Lot features
Public Transit (w/in 6 blks), Cleared
High school district
St. Paul
Directions
35E to W. Kellogg Blvd., South to 7th St. W., Southwest to Western Ave. S., South to property on the right.
Standard status
Active
APN
122823210027
Size
2,098 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4880
Utilities
Heating system
Forced Air
Amenities
decks
storage shed
paved driveway
Building Details
Year built
1884
Building materials
Frame
Roof type
Shingle
Listing Agency:
RE/MAX RESULTS · RE/MAX International
(763) 689-3577
Listed By:
Tim A Guderian
(952) 829-2900
Added: Feb 21
Changed: Aug 19
Last Checked: Aug 21 at 1:06PM
MLS# 7024621
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 offers two three-bedroom apartments in a six-bedroom overall configuration, with updates described in the listing and interior layout including six bedrooms and two bathrooms across the unit spaces. Exterior features include stucco on a frame structure, with shingle roofing and forced-air heating. Outside, the property includes yard space, a paved driveway, a storage shed, and decks for each level, along with covered parking and additional driveway parking.
Located at 275 Western Avenue S in Saint Paul’s West 7th Neighborhood, the listing describes convenient proximity to dining and entertainment options, as well as the Xcel Energy Center. The remarks also note less than 4 minutes to Downtown Saint Paul and shopping and entertainment districts, and about 5 minutes to scenic trails and bluffs overlooking the river.
The lot size is 0.091 acres, and the property size is 2,098 SF, built in 1884.
Located at 275 Western Avenue S in Saint Paul’s West 7th Neighborhood, the listing describes convenient proximity to dining and entertainment options, as well as the Xcel Energy Center. The remarks also note less than 4 minutes to Downtown Saint Paul and shopping and entertainment districts, and about 5 minutes to scenic trails and bluffs overlooking the river.
The lot size is 0.091 acres, and the property size is 2,098 SF, built in 1884.
Key Highlights
- Two three‑bedroom apartments in a six‑bedroom duplex configuration
- 0.091‑acre lot and 2,098 SF building size
- Built in 1884 with frame construction and stucco exterior
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
$30,653
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
7.48%
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%
$613,060
$613.1K
Cap Rate 7%
$437,900
$437.9K
Cap Rate 9%
$340,589
$340.6K
Market Conditions
NOI Build-Up for 2,098 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
$46.6K $22.20/SF
− Vacancy
−$2.8K −$1.33/SF
EGI
$43.8K $20.87/SF
− OpEx
−$13.1K −$6.26/SF
NOI
$30.7K $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%
$613,060
Cap Rate 7%
$437,900
Cap Rate 9%
$340,589
Alternative Uses
Best Use
Multifamily LT 5
$437.9K
$383.2K – $510.9K
NOI $30,653 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$402.2K
$351.9K – $469.3K
NOI $28,155 @ 7.0% cap · market cap 6.87%
Theoretical Best
Healthcare Medical
$516.3K
$451.8K – $602.3K
NOI $36,140 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
794
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
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 - Duplex with two three-bedroom apartments, built in 1884, offering yard space, a paved driveway, and covered parking.
Where is this duplex located?
The property is located at 275 Western Avenue S Saint Paul, MN.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two three‑bedroom apartments in a six‑bedroom duplex configuration; 0.091‑acre lot and 2,098 SF building size; Built in 1884 with frame construction and stucco exterior
