Updated Side-by-Side
New
For Sale
$550,000
4135 W 124th St, Savage, MN 55378
Two matching units offer refreshed interiors, remodeled bathrooms, and convenient access to parks, shopping, dining, and highways.
Property Size3,116 SF
Price / SF$176.51
Days on Market6
Property Features for 4135 W 124th St
General Information
Standard status
Active
Size
3,116 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1960
Listing Agency:
Results Plus Realty, Inc.
Listed By:
Chris Doffing
(952) 454-7102
Source:
Tayloronken
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 22 at 10:56PM
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 Results Plus Realty, Inc.
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 3,116 square feet and was built in 1960. Both units share the same functional layout and have received extensive interior updates, including new hardwood flooring, carpet, lighting, custom paint, and refreshed living areas. Each side also includes a remodeled bathroom with new vanities, tile flooring, and tiled tub and shower surrounds.
The property is located in Savage near parks, dining, and shopping, with highway access supporting commutes throughout the area. Both units are presented as move-in ready, offering a consistent condition across the duplex.
The property is located in Savage near parks, dining, and shopping, with highway access supporting commutes throughout the area. Both units are presented as move-in ready, offering a consistent condition across the duplex.
Key Highlights
- Side‑by‑side duplex with 3,116 square feet
- Both units feature matching layouts
- New hardwood flooring, carpet, lighting, and custom paint throughout both units
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
$45,527
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
8.28%
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%
$910,540
$910.5K
Cap Rate 7%
$650,386
$650.4K
Cap Rate 9%
$505,856
$505.9K
Market Conditions
NOI Build-Up for 3,116 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
$69.2K $22.20/SF
− Vacancy
−$4.1K −$1.33/SF
EGI
$65.0K $20.87/SF
− OpEx
−$19.5K −$6.26/SF
NOI
$45.5K $14.61/SF
Area
Scott 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%
$910,540
Cap Rate 7%
$650,386
Cap Rate 9%
$505,856
Alternative Uses
Best Use
Multifamily LT 5
$650.4K
$569.1K – $758.8K
NOI $45,527 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$597.4K
$522.7K – $696.9K
NOI $41,816 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$743.4K
$650.5K – $867.3K
NOI $52,039 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
Explore this area
Business Placement
Demographics for 55378, MN
31,906
Population
11,857
Households
2.7
Avg Household Size
37
Median Age
51%
College-Educated
97%
High-School Grad
14.3 sq mi
ZIP Area
2,231
Density / Sq Mi
$122,237
Median Household Income
$58,171
Median Earnings
$1,608
Median Rent
$393,800
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 matching units offer refreshed interiors, remodeled bathrooms, and convenient access to parks, shopping, dining, and highways.
Where is this duplex located?
The property is located at 4135 W 124th St Savage, MN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 3,116 square feet; Both units feature matching layouts; New hardwood flooring, carpet, lighting, and custom paint throughout both units
