Four-Unit Residential Income
For Sale
$499,900
429 Mount Ida Street, Saint Paul, MN 55130
Residential Income, Saint Paul, MN
Property Size3,288 SF
Lot Size0.12 Acres
Price / SF$152.04
Days on Market50
Property Features for 429 Mount Ida Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 8, Bathroom 2, Bedroom 3, Bedroom 7, Bathroom 1, Bedroom 4, Bedroom 6, Bedroom 5, Basement, Bathroom 4, Bathroom 3, Bedroom 2
Subdivision
Warren & Winslows Add
High school district
St. Paul
Directions
35E S to University Ave. East on Lafeyette Rd. Left on Ostego St. Left on Mount Idea St to Property.
Standard status
Active
APN
322922220019
Size
3,288 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7749
Utilities
Heating system
Forced Air
Building Details
Year built
1890
Listing Agency:
Keller Williams Premier Realty · Keller Williams Realty
Listed By:
Thomas Geisler
(651) 379-1500
Added: Sep 4
Changed: Oct 20
Last Checked: Oct 23 at 8:06AM
MLS# 7136892
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.
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Investment Insights
Based on property information with market context.
This four-unit residential property contains 3,288 square feet on a 0.121-acre lot and was built in 1890. One apartment has recently received new flooring, appliances, and paint; the property also has a new roof and gutters installed in 2025. Forced-air heating serves the building.
The second-floor apartment at 431 Mount Ida is scheduled to become available October 1. The other three units have long-term tenants, with income from both self-paying and voucher-assisted renters. Several tenants have expressed interest in remaining after a sale.
The basement and upper-floor layouts are identified as possible areas for added storage or bedrooms. Any such work would require verification of egress and permitting with the City of Saint Paul.
The second-floor apartment at 431 Mount Ida is scheduled to become available October 1. The other three units have long-term tenants, with income from both self-paying and voucher-assisted renters. Several tenants have expressed interest in remaining after a sale.
The basement and upper-floor layouts are identified as possible areas for added storage or bedrooms. Any such work would require verification of egress and permitting with the City of Saint Paul.
Key Highlights
- Four‑unit building with 3,288 square feet on a 0.121‑acre lot
- Built in 1890; forced‑air heating
- One apartment updated with new flooring, appliances, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,124
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
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
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
Ramsey 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 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 9.61%
Second Best
Apartment 5plus
$630.3K
$551.6K – $735.4K
NOI $44,124 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$784.4K
$686.4K – $915.2K
NOI $54,911 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,831
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - An owner-occupant can live in one apartment while maintaining three additional rental units.
Where is this quadplex located?
The property is located at 429 Mount Ida Street Saint Paul, MN.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Four‑unit building with 3,288 square feet on a 0.121‑acre lot; Built in 1890; forced‑air heating; One apartment updated with new flooring, appliances, and paint
