Updated Side-by-Side
New
For Sale
$550,000
4135 W 124th Street, Savage, MN 55378
Residential Income, Savage, MN
Property Size3,116 SF
Lot Size0.30 Acres
Price / SF$176.51
Days on Market5
Property Features for 4135 W 124th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bedroom 6, Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4
Exterior features
Brick/Stone, Fiber Board
Subdivision
Hansons 1st Add
High school district
Burnsville-Eagan-Savage
Directions
Hwy 13 to Lynn, S to 124th E to property
Standard status
Active
APN
260060390
Size
3,116 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4588
Utilities
Heating system
Forced Air
Building Details
Year built
1960
Listing Agency:
Results Plus Realty, Inc.
(952) 707-8900
Listed By:
Chris Doffing
(952) 454-7102
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 15 at 2:06AM
MLS# 7143027
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 side-by-side duplex contains 3,116 square feet on a 0.3-acre lot, with six bedrooms and four bathrooms across the property. Both units share comparable layouts and have undergone extensive interior updates, including new hardwood flooring, carpet, paint, lighting, bathroom vanities, tile floors, and tiled tub and shower surrounds. Forced-air heating serves the building, which was constructed in 1960. Brick/stone and fiber board appear among the exterior materials.
The property is located in Savage near parks, dining, shopping, and highway access. The two-unit configuration provides separate living spaces within one multifamily property, with basement space included in the room inventory.
The property is located in Savage near parks, dining, shopping, and highway access. The two-unit configuration provides separate living spaces within one multifamily property, with basement space included in the room inventory.
Key Highlights
- Side‑by‑side duplex with two comparable unit layouts
- 3,116 square feet on a 0.3‑acre lot
- Six bedrooms and four bathrooms across the property
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 income property with renovated interiors, refreshed bathrooms, and functional layouts on both sides.
Where is this duplex located?
The property is located at 4135 W 124th Street 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 two comparable unit layouts; 3,116 square feet on a 0.3‑acre lot; Six bedrooms and four bathrooms across the property
