Duplex with Detached
New
For Sale
$315,000
380 Larpenteur Avenue E, Saint Paul, MN 55117
Residential Income, Saint Paul, MN
Property Size1,664 SF
Lot Size0.17 Acres
Price / SF$189.30
Days on Market3
Property Features for 380 Larpenteur Avenue E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2, Basement, Bathroom 1, Bedroom 1
Parking features
Garage - Detached
Exterior features
Stucco
Subdivision
Clarkes 2nd Add
High school district
St. Paul
Directions
35E to Larpenteur. West on Larpenteur. Left on Western Ave N to first Home on Right.
Standard status
Active
APN
202922220011
Size
1,664 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6372
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1969
Listing Agency:
Keller Williams Premier Realty · Keller Williams Realty
Listed By:
Thomas Geisler
(651) 379-1500
Added: Sep 5
Changed: Sep 7
Last Checked: Sep 7 at 10:06AM
MLS# 7136898
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 1969 duplex contains 1,664 square feet on a 0.173-acre lot and features stucco exteriors, hot-water heating, and separate breaker panels for each unit. Both residences are accessed from the rear and have individual patio areas within a six-foot fenced backyard. Unit 2 has updated windows, kitchen cabinetry, tile flooring from the kitchen through the hallway, fresh paint, and carpet installed at turnover. Unit 1 receives county-assisted payments directly.
The property at 380 Larpenteur Avenue E in Saint Paul offers access to 35E, Rice Street, and Maplewood. Rear parking accommodates up to five vehicles, while the detached oversized two-car garage includes a lockable rear shop. One half of the garage is currently rented to Unit 2, and the garage has its own electrical service. A shared driveway serves neighboring properties.
The property at 380 Larpenteur Avenue E in Saint Paul offers access to 35E, Rice Street, and Maplewood. Rear parking accommodates up to five vehicles, while the detached oversized two-car garage includes a lockable rear shop. One half of the garage is currently rented to Unit 2, and the garage has its own electrical service. A shared driveway serves neighboring properties.
Key Highlights
- 1,664‑square‑foot duplex on a 0.173‑acre lot
- Built in 1969 with stucco exterior and hot‑water heating
- Detached oversized two‑car garage with lockable rear shop
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
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
350
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
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 rear parking, private patios, and a fenced backyard near major Saint Paul routes.
Where is this duplex located?
The property is located at 380 Larpenteur Avenue 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 on a 0.173‑acre lot; Built in 1969 with stucco exterior and hot‑water heating; Detached oversized two‑car garage with lockable rear shop
