Triplex with Spacious
For Sale
$475,000
4376 Upper 71st St E, Inver Grove Heights, MN 55076
Well-maintained 3-unit triplex on a spacious lot with stable long-term occupancy history.
Property Size2,560 SF
Price / SF$185.55
Days on Market50
Property Features for 4376 Upper 71st St E
General Information
Standard status
Active
Size
2,560 SF
Property subtype
Residential Income
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,806
Building Details
Tenancy
Multi
Listing Agency:
Peritus Real Estate
(612) 554-7794
Listed By:
John A Stiles · License #40207306
(612) 554-7794
Source:
Exprealty
Added: Jul 6
Changed: Aug 24
Last Checked: Aug 23 at 6:55PM
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 Peritus Real Estate
Investment Insights
Based on property information with market context.
This well-maintained triplex offers three units within a single property and is described as having a stable, long-term occupancy history with minimal turnover. The asset sits on a spacious lot that is presented as flexible for tenant-valued outdoor needs, and it is noted to carry gross monthly rents totaling $3,420.
The property is located in Inver Grove Heights, with the remarks highlighting proximity to the Mississippi River and nearby recreational opportunities, including a city park with a playground and splash pad, Swing Bridge Park, and a neighborhood dog park.
The listing also notes an adjacent vacant lot at 7177 River Rd that is available separately or together with the triplex.
The property is located in Inver Grove Heights, with the remarks highlighting proximity to the Mississippi River and nearby recreational opportunities, including a city park with a playground and splash pad, Swing Bridge Park, and a neighborhood dog park.
The listing also notes an adjacent vacant lot at 7177 River Rd that is available separately or together with the triplex.
Key Highlights
- 3‑unit triplex built in 1915 with a well‑maintained design and stable long‑term occupancy history
- Gross monthly rents total $3,420 with consistent income and minimal turnover reported
- Spacious lot provides flexibility for outdoor storage, recreational vehicles, or equipment
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
$37,403
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
7.87%
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%
$748,060
$748.1K
Cap Rate 7%
$534,329
$534.3K
Cap Rate 9%
$415,589
$415.6K
Market Conditions
NOI Build-Up for 2,560 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
$56.8K $22.20/SF
− Vacancy
−$3.4K −$1.33/SF
EGI
$53.4K $20.87/SF
− OpEx
−$16.0K −$6.26/SF
NOI
$37.4K $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%
$748,060
Cap Rate 7%
$534,329
Cap Rate 9%
$415,589
Alternative Uses
Best Use
Multifamily LT 5
$534.3K
$467.5K – $623.4K
NOI $37,403 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$490.8K
$429.4K – $572.6K
NOI $34,354 @ 7.0% cap · market cap 7.23%
Theoretical Best
Healthcare Medical
$630.0K
$551.2K – $735.0K
NOI $44,099 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 55076, MN
21,624
Population
9,525
Households
2.3
Avg Household Size
43
Median Age
39%
College-Educated
95%
High-School Grad
9.9 sq mi
ZIP Area
2,184
Density / Sq Mi
$98,026
Median Household Income
$55,557
Median Earnings
$1,340
Median Rent
$308,900
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?
Triplex - Well-maintained 3-unit triplex on a spacious lot with stable long-term occupancy history.
Where is this triplex located?
The property is located at 4376 Upper 71st St E Inver Grove Heights, MN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 3‑unit triplex built in 1915 with a well‑maintained design and stable long‑term occupancy history; Gross monthly rents total $3,420 with consistent income and minimal turnover reported; Spacious lot provides flexibility for outdoor storage, recreational vehicles, or equipment
