Duplex with Finished Third
For Sale
$299,900
Pending
356 1st Avenue S, South Saint Paul, MN 55075
MULTI_FAMILY - South Saint Paul, MN
Property Size2,014 SF
Lot Size0.11 Acres
Days on Market33
Property Features for 356 1st Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1
Exterior features
Metal
Subdivision
Riverside Park Add
High school district
South St. Paul
Directions
Concord St to 3rd Ave N and head south to 3rd st, west to 1st ave, south to home.
Standard status
Pending
APN
366430016170
Size
2,014 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5186
Utilities
Heating system
Forced Air
Building Details
Year built
1900
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 251-4800
Listed By:
Brian Olson · License #RA-20414068
(952) 829-2900
Added: Jul 8
Changed: Aug 3
Last Checked: Aug 9 at 8:06PM
MLS# 7105947
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 South Saint Paul duplex is configured as an up-and-down home with a fenced yard and separate front and rear entrances, including upper and lower porches. Each unit offers a spacious living room, two bedrooms, and a full bathroom. The upper unit also provides access to a finished third floor with two additional rooms that can function as a home office, playroom, game room, hobby area, or additional storage.
Inside, the main-level unit includes an open-concept kitchen with a dining area and a breakfast bar with down lighting, along with updated appliances. Recent updates include new flooring, carpeting, stylish lighting, and fresh paint. A brand-new central furnace has also been installed. Exterior features include metal construction, and heating is forced air.
Set on a 0.107-acre lot, the property is listed as 2,014 square feet and was built in 1900.
Inside, the main-level unit includes an open-concept kitchen with a dining area and a breakfast bar with down lighting, along with updated appliances. Recent updates include new flooring, carpeting, stylish lighting, and fresh paint. A brand-new central furnace has also been installed. Exterior features include metal construction, and heating is forced air.
Set on a 0.107-acre lot, the property is listed as 2,014 square feet and was built in 1900.
Key Highlights
- 0.107‑acre lot with fenced yard
- 2,014 SF duplex built in 1900
- Separate front and rear entrances with upper and lower porches
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
$27,027
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
9.01%
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%
$540,540
$540.5K
Cap Rate 7%
$386,100
$386.1K
Cap Rate 9%
$300,300
$300.3K
Market Conditions
NOI Build-Up for 2,014 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
$52.4K $26.04/SF
− Vacancy
−$3.3K −$1.64/SF
EGI
$49.1K $24.40/SF
− OpEx
−$22.1K −$10.98/SF
NOI
$27.0K $13.42/SF
Area
Dakota 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 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%
$540,540
Cap Rate 7%
$386,100
Cap Rate 9%
$300,300
Alternative Uses
Best Use
Multifamily LT 5
$420.4K
$367.8K – $490.4K
NOI $29,426 @ 7.0% cap · market cap 9.81%
Second Best
Apartment 5plus
$386.1K
$337.8K – $450.5K
NOI $27,027 @ 7.0% cap · market cap 9.01%
Theoretical Best
Healthcare Medical
$495.6K
$433.7K – $578.2K
NOI $34,693 @ 7.0% cap · market cap 11.57%
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
647
Businesses Nearby
Explore this area
Business Placement
Demographics for 55075, MN
20,749
Population
8,460
Households
2.5
Avg Household Size
37
Median Age
31%
College-Educated
93%
High-School Grad
5.6 sq mi
ZIP Area
3,705
Density / Sq Mi
$84,573
Median Household Income
$48,724
Median Earnings
$1,128
Median Rent
$267,000
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 - South Saint Paul duplex features separate front and rear entrances, two beds and full baths per unit, plus a finished third floor.
Where is this duplex located?
The property is located at 356 1st Avenue S South Saint Paul, MN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 0.107‑acre lot with fenced yard; 2,014 SF duplex built in 1900; Separate front and rear entrances with upper and lower porches
