Refreshed Duplex with Hardwood
New
For Sale
$250,000
375 Erie St, Saint Paul, MN 55102
Two-unit property with refreshed interiors, spacious rooms, and original woodwork.
Property Size1,440 SF
Price / SF$173.61
Days on Market3
Property Features for 375 Erie St
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1885
Listing Agency:
Real Broker, LLC
Listed By:
Adam Tafel
(612) 600-6000
Source:
Bethanynelsongroup
Added: Sep 6
Last Checked: Sep 7 at 11:44AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This two-unit residential property contains 1,440 square feet and was built in 1885. Recent interior painting updates the building, while hardwood floors, original woodwork, spacious rooms, and separate kitchens and bedrooms retain its older-home character. Each unit includes a functional arrangement with living space, kitchen, and bedrooms.
The property is currently vacant for showings. Tenants are scheduled to move into the upper unit in mid-October, providing a defined leasing transition for the next owner. The duplex format supports either occupancy of one unit with the other leased or continued operation as a two-unit rental property.
The property is currently vacant for showings. Tenants are scheduled to move into the upper unit in mid-October, providing a defined leasing transition for the next owner. The duplex format supports either occupancy of one unit with the other leased or continued operation as a two-unit rental property.
Key Highlights
- Duplex with 1,440 square feet of total property size
- Built in 1885 with original woodwork and hardwood floors
- Recent interior paint refresh
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
$21,039
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
8.42%
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%
$420,780
$420.8K
Cap Rate 7%
$300,557
$300.6K
Cap Rate 9%
$233,767
$233.8K
Market Conditions
NOI Build-Up for 1,440 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
$32.0K $22.20/SF
− Vacancy
−$1.9K −$1.33/SF
EGI
$30.1K $20.87/SF
− OpEx
−$9.0K −$6.26/SF
NOI
$21.0K $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%
$420,780
Cap Rate 7%
$300,557
Cap Rate 9%
$233,767
Alternative Uses
Best Use
Multifamily LT 5
$300.6K
$263.0K – $350.7K
NOI $21,039 @ 7.0% cap · market cap 8.42%
Second Best
Apartment 5plus
$276.1K
$241.6K – $322.1K
NOI $19,324 @ 7.0% cap · market cap 7.73%
Theoretical Best
Healthcare Medical
$354.4K
$310.1K – $413.4K
NOI $24,805 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
822
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 - Two-unit property with refreshed interiors, spacious rooms, and original woodwork.
Where is this duplex located?
The property is located at 375 Erie St Saint Paul, MN.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Duplex with 1,440 square feet of total property size; Built in 1885 with original woodwork and hardwood floors; Recent interior paint refresh
