Updated Two-Unit
For Sale
$361,300
442 Pierce St N, Saint Paul, MN 55104
Two-bedroom residences feature renovated kitchens, refreshed baths, built-ins, and shared outdoor spaces.
Property Size2,160 SF
Price / SF$167.27
Days on Market38
Property Features for 442 Pierce St N
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
private porch
deck
front porch
basement
washer/dryer
Building Details
Year Built
1923
Buildings
1
Listing Agency:
Realty ONE Group Choice
(612) 749-8404
Listed By:
Lynn M Fellerman
Source:
Vibemn
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 30 at 8:29PM
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 Realty ONE Group Choice
Investment Insights
Based on property information with market context.
Built in 1923, this two-story duplex contains two residences, each with 2 bedrooms and 1 bathroom. The 2,160-square-foot property includes updated kitchens and baths, woodwork, built-ins, open living areas, and formal dining spaces. The upper residence has a private porch, while both units share a deck and front porch entry. A full basement provides storage and washer/dryer access.
The property is located at 442 Pierce St N in Saint Paul, near transit, shopping, restaurants, and Allianz Field. Its up-and-down layout and separate residential spaces support either owner occupancy or an investment strategy, as described for the property.
The property is located at 442 Pierce St N in Saint Paul, near transit, shopping, restaurants, and Allianz Field. Its up-and-down layout and separate residential spaces support either owner occupancy or an investment strategy, as described for the property.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each residence
- 2,160‑square‑foot property built in 1923
- Updated kitchens and baths with woodwork and built‑ins
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
$31,559
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
8.73%
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%
$631,180
$631.2K
Cap Rate 7%
$450,843
$450.8K
Cap Rate 9%
$350,656
$350.7K
Market Conditions
NOI Build-Up for 2,160 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
$48.0K $22.20/SF
− Vacancy
−$2.9K −$1.33/SF
EGI
$45.1K $20.87/SF
− OpEx
−$13.5K −$6.26/SF
NOI
$31.6K $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%
$631,180
Cap Rate 7%
$450,843
Cap Rate 9%
$350,656
Alternative Uses
Best Use
Multifamily LT 5
$450.8K
$394.5K – $526.0K
NOI $31,559 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$414.1K
$362.3K – $483.1K
NOI $28,987 @ 7.0% cap · market cap 8.02%
Theoretical Best
Healthcare Medical
$531.5K
$465.1K – $620.1K
NOI $37,208 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 55104, MN
45,612
Population
20,358
Households
2.2
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
6.0 sq mi
ZIP Area
7,602
Density / Sq Mi
$75,038
Median Household Income
$42,770
Median Earnings
$1,159
Median Rent
$290,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom residences feature renovated kitchens, refreshed baths, built-ins, and shared outdoor spaces.
Where is this duplex located?
The property is located at 442 Pierce St N Saint Paul, MN.
What is the asking price?
The asking price for this property is $361,300.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each residence; 2,160‑square‑foot property built in 1923; Updated kitchens and baths with woodwork and built‑ins
