Four-Bedroom Short-Term Rental
New
For Sale
$479,900
677 Sherburne Avenue, Saint Paul, MN 55104
Residential Income, Saint Paul, MN
Property Size1,866 SF
Lot Size0.10 Acres
Price / SF$257.18
Days on Market4
Property Features for 677 Sherburne Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Basement, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 3, Bathroom 1
Parking features
Garage - Detached
Exterior features
Stucco, Wood
Fencing
Chain Link
Subdivision
Chute Brothers Division, No 2
High school district
St. Paul
Directions
94 to Dale. North to Sherburne. West to home.
Standard status
Active
APN
352923140139
Size
1,866 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8777
Utilities
Heating system
Forced Air
Building Details
Year built
1886
Listing Agency:
RE/MAX Results · RE/MAX International
(763) 591-6000
Listed By:
Kerby & Cristina Real Estate Experts
(952) 829-2900
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 6 at 9:06PM
MLS# 7132105
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 short-term rental property contains 1,866 square feet with four bedrooms, four bathrooms, and a basement. Built in 1886, the building has stucco and wood exterior materials, forced-air heating, and a detached garage. A chain-link fence is also included among the site improvements.
The property is located at 677 Sherburne Avenue in Saint Paul, near downtown, the Green Line, Regions Hospital, Allianz Field, and the State Capitol. The listing describes potential use for short-term rentals, long-term rentals, or owner occupancy. The property may be offered furnished or unfurnished, according to the listing information.
The property is located at 677 Sherburne Avenue in Saint Paul, near downtown, the Green Line, Regions Hospital, Allianz Field, and the State Capitol. The listing describes potential use for short-term rentals, long-term rentals, or owner occupancy. The property may be offered furnished or unfurnished, according to the listing information.
Key Highlights
- 1,866‑square‑foot property with four bedrooms and four bathrooms
- Built in 1886 with stucco and wood exterior materials
- Basement and detached garage included
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
$25,041
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
5.22%
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%
$500,820
$500.8K
Cap Rate 7%
$357,729
$357.7K
Cap Rate 9%
$278,233
$278.2K
Market Conditions
NOI Build-Up for 1,866 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
$48.6K $26.04/SF
− Vacancy
−$3.1K −$1.64/SF
EGI
$45.5K $24.40/SF
− OpEx
−$20.5K −$10.98/SF
NOI
$25.0K $13.42/SF
Area
Dakota 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 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%
$500,820
Cap Rate 7%
$357,729
Cap Rate 9%
$278,233
Alternative Uses
Best Use
Apartment 5plus
$357.7K
$313.0K – $417.4K
NOI $25,041 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$459.2K
$401.8K – $535.7K
NOI $32,144 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
887
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
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Frequently Asked Questions
What type of property is this?
Short term rental property - Property includes a detached garage, basement, forced-air heating, and mixed stucco and wood exterior materials.
Where is this short term rental property located?
The property is located at 677 Sherburne Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: 1,866‑square‑foot property with four bedrooms and four bathrooms; Built in 1886 with stucco and wood exterior materials; Basement and detached garage included
