Renovated Duplex with Owner-Occupant
For Sale
$364,900
393 Geranium Ave E, Saint Paul, MN 55117
Updated interiors and a vacant unit provide flexible occupancy options for an owner-occupant or rental operator.
Property Size2,112 SF
Price / SF$172.77
Days on Market13
Property Features for 393 Geranium Ave E
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Listing Agency:
Keller Williams Realty Integrity Lakes
(651) 955-8161
Listed By:
Lasha S Raddatz · License #20319973
(651) 955-8161
Source:
Exprealty
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 10 at 8:01AM
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 Realty Integrity Lakes
Investment Insights
Based on property information with market context.
This 2,112-square-foot duplex in Saint Paul features extensively renovated interiors and a vacant unit, creating flexibility for an owner-occupant or rental use. The property also includes a non-conforming basement space that requires an egress window. It was previously operated as a short-term rental, with income history associated with the property.
The home is located at 393 Geranium Ave E near parks, shopping, dining, downtown Saint Paul, Lake Phalen, and commuter routes. An oversized lot adds to the property's physical appeal, while subdivision potential has been identified subject to verification with the city of Saint Paul.
The home is located at 393 Geranium Ave E near parks, shopping, dining, downtown Saint Paul, Lake Phalen, and commuter routes. An oversized lot adds to the property's physical appeal, while subdivision potential has been identified subject to verification with the city of Saint Paul.
Key Highlights
- 2,112 SF duplex with extensively renovated interiors
- Vacant unit supports owner‑occupancy or rental flexibility
- Previously operated as a short‑term rental
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
$30,858
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
8.46%
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%
$617,160
$617.2K
Cap Rate 7%
$440,829
$440.8K
Cap Rate 9%
$342,867
$342.9K
Market Conditions
NOI Build-Up for 2,112 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
$46.9K $22.20/SF
− Vacancy
−$2.8K −$1.33/SF
EGI
$44.1K $20.87/SF
− OpEx
−$13.2K −$6.26/SF
NOI
$30.9K $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%
$617,160
Cap Rate 7%
$440,829
Cap Rate 9%
$342,867
Alternative Uses
Best Use
Multifamily LT 5
$440.8K
$385.7K – $514.3K
NOI $30,858 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$404.9K
$354.3K – $472.4K
NOI $28,342 @ 7.0% cap · market cap 7.77%
Theoretical Best
Healthcare Medical
$519.7K
$454.8K – $606.4K
NOI $36,381 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
265
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated interiors and a vacant unit provide flexible occupancy options for an owner-occupant or rental operator.
Where is this duplex located?
The property is located at 393 Geranium Ave E Saint Paul, MN.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: 2,112 SF duplex with extensively renovated interiors; Vacant unit supports owner‑occupancy or rental flexibility; Previously operated as a short‑term rental
