Updated Quadplex with
For Sale
$995,000
518 Laurel Avenue, Saint Paul, MN 55102
Residential Income, Saint Paul, MN
Property Size2,820 SF
Lot Size0.16 Acres
Price / SF$352.84
Days on Market544
Property Features for 518 Laurel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Single Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 8, Bathroom 2, Basement, Bathroom 1, Bedroom 7, Bedroom 2
Parking features
Driveway, Assigned
Exterior features
Vinyl
Fencing
Privacy
Subdivision
Woodland Park Addition, To St
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Light
High school district
St. Paul
Directions
Dale Street to Laurel go east
Standard status
Active
APN
012823220230
Size
2,820 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9467
Utilities
Heating system
Hot Water(Heating)
Amenities
decks
shared laundry area
park-like backyard
Building Details
Year built
1911
Roof type
Flat
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 552-3600
Listed By:
Christopher J Ames · License #710057
(952) 829-2900
Added: Mar 21, 2025
Changed: Sep 13
Last Checked: Sep 15 at 4:06AM
MLS# 6689608
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.
Investment Insights
Based on property information with market context.
This 2,820-square-foot quadplex, built in 1911, contains two main-level residences and two upper-level residences. Each unit has been updated in recent years with refreshed kitchens and ceramic-tile bathrooms, while individual decks face the rear yard. A shared laundry room occupies the lower level. The property has vinyl exterior siding, a flat roof, hot-water heat, privacy fencing, and assigned driveway parking on a 0.164-acre parcel.
Located at 518 Laurel Avenue in Saint Paul, the building sits across from McQuillan Park. Its four-unit configuration is identified as suitable for either an owner-occupant or an investor, with off-street parking supporting the property’s residential use.
Located at 518 Laurel Avenue in Saint Paul, the building sits across from McQuillan Park. Its four-unit configuration is identified as suitable for either an owner-occupant or an investor, with off-street parking supporting the property’s residential use.
Key Highlights
- 2,820 SF quadplex on a 0.164‑acre lot
- Four units: two main‑level and two upper‑level residences
- Units updated over the last few years with refreshed kitchens and ceramic bathrooms
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
$41,202
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
4.14%
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%
$824,040
$824.0K
Cap Rate 7%
$588,600
$588.6K
Cap Rate 9%
$457,800
$457.8K
Market Conditions
NOI Build-Up for 2,820 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
$62.6K $22.20/SF
− Vacancy
−$3.7K −$1.33/SF
EGI
$58.9K $20.87/SF
− OpEx
−$17.7K −$6.26/SF
NOI
$41.2K $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%
$824,040
Cap Rate 7%
$588,600
Cap Rate 9%
$457,800
Alternative Uses
Best Use
Multifamily LT 5
$588.6K
$515.0K – $686.7K
NOI $41,202 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$540.6K
$473.1K – $630.7K
NOI $37,844 @ 7.0% cap · market cap 3.80%
Theoretical Best
Healthcare Medical
$694.0K
$607.2K – $809.6K
NOI $48,577 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,355
Businesses Nearby
Explore this area
Business Placement
Demographics for 55102, MN
20,355
Population
11,582
Households
1.8
Avg Household Size
39
Median Age
55%
College-Educated
96%
High-School Grad
3.3 sq mi
ZIP Area
6,168
Density / Sq Mi
$74,143
Median Household Income
$54,042
Median Earnings
$1,295
Median Rent
$280,400
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 - Four residential units feature renovated kitchens, ceramic bathrooms, and access to shared lower-level laundry.
Where is this quadplex located?
The property is located at 518 Laurel Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 2,820 SF quadplex on a 0.164‑acre lot; Four units: two main‑level and two upper‑level residences; Units updated over the last few years with refreshed kitchens and ceramic bathrooms
