Two-Unit Duplex with
New
For Sale
$375,000
429 5th Avenue S, South Saint Paul, MN 55075
Both residences include two bedrooms, one bathroom, and dedicated patio space.
Property Size2,314 SF
Days on Market7
Property Features for 429 5th Avenue S
General Information
Standard status
Active
Size
2,314 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,462
Amenities
fully fenced-in backyard
dedicated patio spaces
full unfinished basement
Building Details
Building Size
2,314 SF
Year Built
1940
Buildings
1
Stories
2
Units
2
Listing Agency:
Keller Williams Realty Integrity Lakes
(952) 564-7857
Listed By:
Victoria De La Mora
(952) 564-7857
Source:
Ivyrealestategroup
Added: Aug 14
Changed: Aug 18
Last Checked: Aug 19 at 3:14PM
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 includes two residential units, each configured with two bedrooms and one bathroom. The main-level residence features natural hardwood flooring, an updated kitchen, and a recently renovated bathroom. Both units have access to a fully fenced backyard with individual patio areas. A full unfinished basement provides additional space for storage or future improvements.
The property is located at 429 5th Avenue S in South Saint Paul, near Roosevelt Field Park, additional neighborhood parks, the river, local dining, and major highways. The building was constructed in 1940 and is currently fully rented.
The property is located at 429 5th Avenue S in South Saint Paul, near Roosevelt Field Park, additional neighborhood parks, the river, local dining, and major highways. The building was constructed in 1940 and is currently fully rented.
Key Highlights
- Two‑unit up‑and‑down duplex with 2 bedrooms and 1 bathroom per unit
- Currently fully rented
- Main level includes 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
$33,809
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
9.02%
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%
$676,180
$676.2K
Cap Rate 7%
$482,986
$483.0K
Cap Rate 9%
$375,656
$375.7K
Market Conditions
NOI Build-Up for 2,314 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
$51.4K $22.20/SF
− Vacancy
−$3.1K −$1.33/SF
EGI
$48.3K $20.87/SF
− OpEx
−$14.5K −$6.26/SF
NOI
$33.8K $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%
$676,180
Cap Rate 7%
$482,986
Cap Rate 9%
$375,656
Alternative Uses
Best Use
Multifamily LT 5
$483.0K
$422.6K – $563.5K
NOI $33,809 @ 7.0% cap · market cap 9.02%
Second Best
Apartment 5plus
$443.6K
$388.2K – $517.6K
NOI $31,053 @ 7.0% cap · market cap 8.28%
Theoretical Best
Healthcare Medical
$569.4K
$498.3K – $664.4K
NOI $39,861 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
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 - Both residences include two bedrooms, one bathroom, and dedicated patio space.
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 $375,000.
What are key features of this property?
This property features: Two‑unit up‑and‑down duplex with 2 bedrooms and 1 bathroom per unit; Currently fully rented; Main level includes natural hardwood floors, an updated kitchen, and a newly renovated bathroom
