Two-Unit Up-and-Down
For Sale
$350,000
429 5th Avenue S, South Saint Paul, MN 55075
Residential Income, South Saint Paul, MN
Property Size1,442 SF
Lot Size0.11 Acres
Price / SF$242.72
Days on Market49
Property Features for 429 5th Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Basement, Bathroom 3
Parking features
Garage - Detached, Driveway
Subdivision
Riverside Park Add
High school district
South St. Paul
Directions
From Hwy 52 take exit 126 Southview Blvd. Turn left onto Mendota Rd. Turn right onto Southview Blvd. Turn right onto Fifth Ave S. Destination on your left
Standard status
Active
APN
366430010080
Size
1,442 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4462
Utilities
Heating system
Forced Air
Amenities
hardwood floors
updated kitchen
fenced yard
patio
unfinished basement
Building Details
Year built
1940
Building materials
Frame
Listing Agency:
Keller Williams Realty Integrity Lakes
(612) 821-7400
Listed By:
Victoria De La Mora
(952) 564-7857
Added: Aug 14
Changed: Oct 1
Last Checked: Oct 1 at 1:06PM
MLS# 7127510
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 frame duplex contains two apartments arranged on separate levels, each with two bedrooms and one bathroom. The main-floor unit has hardwood flooring, an updated kitchen, and a renovated bathroom; the upper apartment has a bright layout. Each residence has its own patio in the fenced backyard. A full, unfinished basement provides additional space, while a detached garage and driveway serve the property.
Built in 1940, the building contains 1,442 square feet on a 0.114-acre lot. Heating is forced air. Neighborhood parks, the river, and local dining are described as walkable, with access to major highways nearby.
Built in 1940, the building contains 1,442 square feet on a 0.114-acre lot. Heating is forced air. Neighborhood parks, the river, and local dining are described as walkable, with access to major highways nearby.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 1,442‑square‑foot building on a 0.114‑acre lot
- Main‑floor unit features hardwood flooring, an updated kitchen, and a 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
6.02%
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 6.02%
Second Best
Apartment 5plus
$276.4K
$241.9K – $322.5K
NOI $19,351 @ 7.0% cap · market cap 5.53%
Theoretical Best
Healthcare Medical
$354.9K
$310.5K – $414.0K
NOI $24,840 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms and a full bathroom, with separate patio areas in a fenced backyard.
Where is this duplex located?
The property is located at 429 5th Avenue S South Saint Paul, MN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 1,442‑square‑foot building on a 0.114‑acre lot; Main‑floor unit features hardwood flooring, an updated kitchen, and a renovated bathroom
