Side-by-Side Duplex with Detached
For Sale
$390,000
331-333 S McKnight Road, Saint Paul, MN 55119
Residential Income, Saint Paul, MN
Property Size1,860 SF
Lot Size0.18 Acres
Price / SF$209.68
Days on Market68
Property Features for 331-333 S McKnight Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Basement
Parking features
Driveway, Garage - Detached
Exterior features
Brick/Stone, Slate
Fencing
Chain Link
Subdivision
Section 11 Town 28 Range 22
Lot features
Public Transit (w/in 6 blks)
High school district
St. Paul
Directions
Highway 94 East to McKnight Rd. go Right/South, to 331 McKnight Rd. S on your right side
Standard status
Active
APN
112822110004
Size
1,860 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7282
Utilities
Heating system
Forced Air
Building Details
Year built
1968
Building materials
Block
Listing Agency:
RE/MAX Advantage Plus · RE/MAX International
(763) 755-1100
Listed By:
Amy Stine
(952) 226-7700
Added: Jun 13
Changed: Aug 19
Last Checked: Aug 19 at 7:06PM
MLS# 7092621
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 well maintained side-by-side duplex offers two fully occupied units and an owner-occupant or investor setup with minimal ongoing expenses. Each side is fully occupied and has been for many years, and both tenants are on month-to-month leases. The tenants are responsible for lawn care and snow removal, along with electric, gas, and water. The owner is responsible for garbage and taxes.
The duplex is constructed with block and features brick/stone exterior with slate roofing. Heating is forced air. Parking includes a detached garage and driveway, and the property is fenced with chain link.
With a total size of 1,860 square feet on a 0.179-acre lot, the building was constructed in 1968. There is potential to add an additional bedroom on each side. There is also one housekeeping item to be completed before closing, including a newly installed (warrantied) leaking faucet on the 333 side.
The duplex is constructed with block and features brick/stone exterior with slate roofing. Heating is forced air. Parking includes a detached garage and driveway, and the property is fenced with chain link.
With a total size of 1,860 square feet on a 0.179-acre lot, the building was constructed in 1968. There is potential to add an additional bedroom on each side. There is also one housekeeping item to be completed before closing, including a newly installed (warrantied) leaking faucet on the 333 side.
Key Highlights
- Both sides fully occupied; tenants on month‑to‑month leases
- 1,860 square feet on a 0.179‑acre lot
- Built in 1968 with block construction
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
$27,176
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
6.97%
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%
$543,520
$543.5K
Cap Rate 7%
$388,229
$388.2K
Cap Rate 9%
$301,956
$302.0K
Market Conditions
NOI Build-Up for 1,860 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
$41.3K $22.20/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$38.8K $20.87/SF
− OpEx
−$11.6K −$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%
$543,520
Cap Rate 7%
$388,229
Cap Rate 9%
$301,956
Alternative Uses
Best Use
Multifamily LT 5
$388.2K
$339.7K – $452.9K
NOI $27,176 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$356.6K
$312.0K – $416.0K
NOI $24,961 @ 7.0% cap · market cap 6.40%
Theoretical Best
Healthcare Medical
$457.7K
$400.5K – $534.0K
NOI $32,040 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
Business Placement
Demographics for 55119, MN
43,010
Population
16,806
Households
2.6
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
13.2 sq mi
ZIP Area
3,258
Density / Sq Mi
$77,870
Median Household Income
$42,860
Median Earnings
$1,351
Median Rent
$262,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well maintained side-by-side duplex with both units occupied on month-to-month leases.
Where is this duplex located?
The property is located at 331-333 S McKnight Road Saint Paul, MN.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Both sides fully occupied; tenants on month‑to‑month leases; 1,860 square feet on a 0.179‑acre lot; Built in 1968 with block construction
