Duplex with Oversized
New
For Sale
$315,000
380 Larpenteur Ave E, Saint Paul, MN 55117
Rear-entry units offer private patios, a fenced backyard, and flexible garage space for parking, storage, or shop use.
Property Size1,664 SF
Price / SF$189.30
Days on Market7
Property Features for 380 Larpenteur Ave E
General Information
Standard status
Active
Size
1,664 SF
Total Parking Spaces
7
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Amenities
patio
fenced backyard
Building Details
Year Built
1969
Buildings
1
Listing Agency:
Keller Williams Premier Realty
Listed By:
Thomas Geisler
(651) 379-1500
Source:
Brickandbanister
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 14 at 5:32PM
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 Keller Williams Premier Realty
Investment Insights
Based on property information with market context.
Built in 1969, this 1,664-square-foot duplex includes two rear-entry units, each with a private patio. The property sits behind the main road, with a six-foot fenced backyard and rear parking for up to five vehicles. An oversized two-car garage includes a lockable rear shop, separate electrical service, and space that can support parking, storage, or personal use. Half of the garage is currently rented to Unit 2.
The property is located at 380 Larpenteur Ave E in Saint Paul, with access to 35E, Rice Street, and Maplewood. Each unit has its own breaker panel. Unit 2 features updated windows, kitchen cabinetry, tile extending from the kitchen through the hallway, and newer paint and carpet installed at turnover. Unit 1 receives county-assisted payments directly.
The property is located at 380 Larpenteur Ave E in Saint Paul, with access to 35E, Rice Street, and Maplewood. Each unit has its own breaker panel. Unit 2 features updated windows, kitchen cabinetry, tile extending from the kitchen through the hallway, and newer paint and carpet installed at turnover. Unit 1 receives county-assisted payments directly.
Key Highlights
- 1,664‑square‑foot duplex built in 1969
- Oversized two‑car garage with a lockable rear shop and separate service
- Rear parking accommodates up to five vehicles
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
$24,312
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
7.72%
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%
$486,240
$486.2K
Cap Rate 7%
$347,314
$347.3K
Cap Rate 9%
$270,133
$270.1K
Market Conditions
NOI Build-Up for 1,664 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
$36.9K $22.20/SF
− Vacancy
−$2.2K −$1.33/SF
EGI
$34.7K $20.87/SF
− OpEx
−$10.4K −$6.26/SF
NOI
$24.3K $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%
$486,240
Cap Rate 7%
$347,314
Cap Rate 9%
$270,133
Alternative Uses
Best Use
Multifamily LT 5
$347.3K
$303.9K – $405.2K
NOI $24,312 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$319.0K
$279.1K – $372.2K
NOI $22,330 @ 7.0% cap · market cap 7.09%
Theoretical Best
Healthcare Medical
$409.5K
$358.3K – $477.7K
NOI $28,664 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Explore this area
Business Placement
Demographics for 55117, MN
44,525
Population
17,784
Households
2.5
Avg Household Size
34
Median Age
33%
College-Educated
87%
High-School Grad
9.2 sq mi
ZIP Area
4,840
Density / Sq Mi
$71,784
Median Household Income
$43,366
Median Earnings
$1,178
Median Rent
$262,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Rear-entry units offer private patios, a fenced backyard, and flexible garage space for parking, storage, or shop use.
Where is this duplex located?
The property is located at 380 Larpenteur Ave E Saint Paul, MN.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,664‑square‑foot duplex built in 1969; Oversized two‑car garage with a lockable rear shop and separate service; Rear parking accommodates up to five vehicles
