Up/Down Duplex with
For Sale
$375,000
429 5th Ave S, South Saint Paul, MN 55075
Fully rented two-unit property with updated interiors, private patio areas, and a fenced backyard near parks and local dining.
Property Size1,442 SF
Price / SF$260.06
Days on Market15
Property Features for 429 5th Ave S
General Information
Standard status
Active
Size
1,442 SF
Property subtype
Multi-Family
Building Details
Year Built
1940
Listing Agency:
Keller Williams Realty Integrity Lakes
(952) 564-7857
Listed By:
Victoria De La Mora
Source:
Searchhousesnow
Added: Aug 18
Changed: Aug 31
Last Checked: Aug 31 at 7:38PM
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 up-and-down duplex contains two residential units, each arranged with 2 bedrooms and 1 bathroom. The main-level unit has natural hardwood flooring, an updated kitchen, and a recently renovated bathroom. The upper residence provides two spacious bedrooms and a bright interior. Both units share access to a fully fenced backyard, with a dedicated patio area assigned to each residence.
A full unfinished basement adds storage and future finishing potential. Built in 1940, the property is currently fully rented and located near Roosevelt Field Park, additional neighborhood parks, the river, and local dining. Major highways are also readily accessible from the property.
A full unfinished basement adds storage and future finishing potential. Built in 1940, the property is currently fully rented and located near Roosevelt Field Park, additional neighborhood parks, the river, and local dining. Major highways are also readily accessible from the property.
Key Highlights
- Two‑unit up/down duplex with 1,442 SF
- Each unit includes 2 Bed / 1 Bath
- Main level features natural hardwood floors, an updated kitchen, and a newly renovated bathroom
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
$21,069
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
5.62%
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%
$421,380
$421.4K
Cap Rate 7%
$300,986
$301.0K
Cap Rate 9%
$234,100
$234.1K
Market Conditions
NOI Build-Up for 1,442 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
$32.0K $22.20/SF
− Vacancy
−$1.9K −$1.33/SF
EGI
$30.1K $20.87/SF
− OpEx
−$9.0K −$6.26/SF
NOI
$21.1K $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%
$421,380
Cap Rate 7%
$300,986
Cap Rate 9%
$234,100
Alternative Uses
Best Use
Multifamily LT 5
$301.0K
$263.4K – $351.2K
NOI $21,069 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$276.4K
$241.9K – $322.5K
NOI $19,351 @ 7.0% cap · market cap 5.16%
Theoretical Best
Healthcare Medical
$354.9K
$310.5K – $414.0K
NOI $24,840 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
Explore this area
Business Placement
Demographics for 55075, MN
20,749
Population
8,460
Households
2.5
Avg Household Size
37
Median Age
31%
College-Educated
93%
High-School Grad
5.6 sq mi
ZIP Area
3,705
Density / Sq Mi
$84,573
Median Household Income
$48,724
Median Earnings
$1,128
Median Rent
$267,000
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 - Fully rented two-unit property with updated interiors, private patio areas, and a fenced backyard near parks and local dining.
Where is this duplex located?
The property is located at 429 5th Ave S South Saint Paul, MN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit up/down duplex with 1,442 SF; Each unit includes 2 Bed / 1 Bath; Main level features natural hardwood floors, an updated kitchen, and a newly renovated bathroom
