Four-Unit Property with New
New
For Sale
$510,000
429 Mount Ida St, Saint Paul, MN 55130
Income-producing residential property with established occupancy and a recently updated roof and gutter system.
Property Size3,288 SF
Price / SF$155.11
Days on Market7
Property Features for 429 Mount Ida St
General Information
Standard status
Active
Size
3,288 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1890
Listing Agency:
Keller Williams Premier Realty
Listed By:
Thomas Geisler
(651) 379-1500
Source:
Putyourrootsdown
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 14 at 7:47PM
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 Premier Realty
Investment Insights
Based on property information with market context.
This four-unit residential property measures 3,288 square feet and includes a recently installed roof and gutters completed in 2025. The property has long-term tenants and a stabilized rent roll that combines self-pay and voucher-assisted income. One unit is expected to become available October 1, creating potential for an owner occupant while the remaining units continue generating rental income.
The property is located in Railroad Island near the Village on Rivoli, Rivoli Bluff urban farm and orchard, Swede Hollow Park, and the Bruce Vento Trail. The basement may offer possibilities for additional storage or bedroom space, while the top-floor units may have potential for added bedrooms, subject to egress requirements and City of Saint Paul permitting.
The property is located in Railroad Island near the Village on Rivoli, Rivoli Bluff urban farm and orchard, Swede Hollow Park, and the Bruce Vento Trail. The basement may offer possibilities for additional storage or bedroom space, while the top-floor units may have potential for added bedrooms, subject to egress requirements and City of Saint Paul permitting.
Key Highlights
- Four‑unit residential property totaling 3,288 square feet
- New roof and new gutters completed in 2025
- Long‑term tenants and stabilized rent roll
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
$44,124
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
8.65%
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%
$882,480
$882.5K
Cap Rate 7%
$630,343
$630.3K
Cap Rate 9%
$490,267
$490.3K
Market Conditions
NOI Build-Up for 3,288 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
$85.6K $26.04/SF
− Vacancy
−$5.4K −$1.64/SF
EGI
$80.2K $24.40/SF
− OpEx
−$36.1K −$10.98/SF
NOI
$44.1K $13.42/SF
Area
Dakota County, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$882,480
Cap Rate 7%
$630,343
Cap Rate 9%
$490,267
Alternative Uses
Best Use
Multifamily LT 5
$686.3K
$600.5K – $800.7K
NOI $48,040 @ 7.0% cap · market cap 9.42%
Second Best
Apartment 5plus
$630.3K
$551.6K – $735.4K
NOI $44,124 @ 7.0% cap · market cap 8.65%
Theoretical Best
Healthcare Medical
$809.1K
$708.0K – $944.0K
NOI $56,639 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,831
Businesses Nearby
Explore this area
Business Placement
Demographics for 55130, MN
18,581
Population
6,368
Households
2.9
Avg Household Size
28
Median Age
21%
College-Educated
73%
High-School Grad
2.0 sq mi
ZIP Area
9,291
Density / Sq Mi
$53,281
Median Household Income
$36,740
Median Earnings
$1,151
Median Rent
$220,300
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?
Quadplex - Income-producing residential property with established occupancy and a recently updated roof and gutter system.
Where is this quadplex located?
The property is located at 429 Mount Ida St Saint Paul, MN.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Four‑unit residential property totaling 3,288 square feet; New roof and new gutters completed in 2025; Long‑term tenants and stabilized rent roll
