Refreshed Two-Unit
New
For Sale
$250,000
375 Erie Street, Saint Paul, MN 55102
Residential Income, Saint Paul, MN
Property Size1,440 SF
Lot Size0.11 Acres
Price / SF$173.61
Days on Market4
Property Features for 375 Erie Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Basement, Bedroom 1, Bedroom 2
Parking features
On Street
Exterior features
Vinyl
Fencing
Chain Link
Subdivision
Stinson & Ramseys Sub W1/2 B16
Lot features
Tree Coverage - Light
High school district
St. Paul
Directions
From 7th St W/Fort Rd Turn right onto Jefferson Ave Turn right onto Erie St
Standard status
Active
APN
122823230012
Size
1,440 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4026
Utilities
Heating system
Forced Air
Building Details
Year built
1885
Building materials
Block, Concrete
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Adam Tafel
(612) 600-6000
Added: Sep 3
Changed: Sep 6
Last Checked: Sep 6 at 9:06PM
MLS# 7136357
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 1,440-square-foot duplex at 375 Erie Street includes two residential units with practical layouts, living areas, kitchens, bedrooms, and bathrooms. Recent interior paint refreshes the property, while hardwood floors and original woodwork retain its historic character. The building dates to 1885 and has vinyl exterior features, block and concrete construction, forced-air heating, chain-link fencing, and on-street parking.
The property sits on a 0.114-acre lot in Saint Paul’s 55102 ZIP code. Both units are currently vacant, and tenants are scheduled to move into the upper unit in mid-October. That timing provides a defined leasing event for a new owner while leaving the other unit available for a potential owner-occupant or additional tenancy.
The property sits on a 0.114-acre lot in Saint Paul’s 55102 ZIP code. Both units are currently vacant, and tenants are scheduled to move into the upper unit in mid-October. That timing provides a defined leasing event for a new owner while leaving the other unit available for a potential owner-occupant or additional tenancy.
Key Highlights
- Two‑unit duplex with 1,440 square feet of property size
- 0.114‑acre lot at 375 Erie Street, Saint Paul, MN 55102
- Recent interior paint refresh with hardwood floors and original woodwork
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
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 - Two residential units feature hardwood flooring, original woodwork, spacious rooms, kitchens, and bedrooms.
Where is this duplex located?
The property is located at 375 Erie Street 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: Two‑unit duplex with 1,440 square feet of property size; 0.114‑acre lot at 375 Erie Street, Saint Paul, MN 55102; Recent interior paint refresh with hardwood floors and original woodwork
