Side-by-Side Duplex with
For Sale
$379,900
507 10th Ave S, South Saint Paul, MN 55075
Two-bedroom units feature hardwood floors, private laundry, and separate utilities.
Property Size2,184 SF
Price / SF$173.95
Days on Market11
Property Features for 507 10th Ave S
General Information
Standard status
Active
Size
2,184 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,580
Amenities
hardwood floors
central AC
private laundry
Building Details
Buildings
1
Listing Agency:
RE/MAX Results
(612) 750-0496
Listed By:
Michael D Blaeser · License #20183908
(612) 750-0496
Source:
Exprealty
Added: Aug 10
Changed: Aug 17
Last Checked: Aug 19 at 10:21AM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This 2,184-square-foot side-by-side duplex at 507 10th Ave S includes two bedrooms on each side, hardwood flooring, central AC, and private laundry for both units. Separate utilities support independent operation, while the lower levels range from unfinished to partially finished and provide additional interior space for future completion. A roof installed approximately 8 years ago adds to the property’s established physical improvements.
The property sits on a cul-de-sac in South Saint Paul, with shopping, bus service, and freeway access nearby. A detached two-car garage contains two separate stalls, and additional off-street parking is available. The long-term ownership history and duplex configuration provide a clearly defined residential income property layout.
The property sits on a cul-de-sac in South Saint Paul, with shopping, bus service, and freeway access nearby. A detached two-car garage contains two separate stalls, and additional off-street parking is available. The long-term ownership history and duplex configuration provide a clearly defined residential income property layout.
Key Highlights
- 2,184 SF side‑by‑side duplex with 2 bedrooms per unit
- Detached 2‑car garage with 2 separate stalls
- Private laundry in each unit and separate utilities
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
$31,910
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
8.40%
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%
$638,200
$638.2K
Cap Rate 7%
$455,857
$455.9K
Cap Rate 9%
$354,556
$354.6K
Market Conditions
NOI Build-Up for 2,184 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
$48.5K $22.20/SF
− Vacancy
−$2.9K −$1.33/SF
EGI
$45.6K $20.87/SF
− OpEx
−$13.7K −$6.26/SF
NOI
$31.9K $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%
$638,200
Cap Rate 7%
$455,857
Cap Rate 9%
$354,556
Alternative Uses
Best Use
Multifamily LT 5
$455.9K
$398.9K – $531.8K
NOI $31,910 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$418.7K
$366.4K – $488.5K
NOI $29,309 @ 7.0% cap · market cap 7.71%
Theoretical Best
Healthcare Medical
$537.5K
$470.3K – $627.0K
NOI $37,622 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
449
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 - Two-bedroom units feature hardwood floors, private laundry, and separate utilities.
Where is this duplex located?
The property is located at 507 10th Ave S South Saint Paul, MN.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 2,184 SF side‑by‑side duplex with 2 bedrooms per unit; Detached 2‑car garage with 2 separate stalls; Private laundry in each unit and separate utilities
