Duplex with Three-Car
701 Sherwood Avenue, Saint Paul, MN 55106
For Sale
New
$420,000
Saint Paul, MN
Property Size2,158 SF
Price / SF$194.62
Days on Market2
Property Features for 701 Sherwood Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Standard status
Size
Building Details
Year built
Buildings
Listing Agency:
Engel & Volkers Minneapolis Lake Minnetonka · Engel & Völkers
(612) 338-3836
Listed By:
Abby Andrusko
Added: Nov 14
Last Checked: Nov 15 at 11:06AM
MLS# 7172465
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1926, this 2,158-square-foot duplex has a main-floor residence and an upper-level residence. Interior features include hardwood floors, built-in cabinetry, a decorative fireplace, sunrooms and updated kitchens. The upper residence also includes quartzite countertops, updated cabinetry and newer appliances. A three-car garage allocates one stall to the main-floor unit and two to the upper unit; the property also has a floating deck and established landscaping.
The duplex occupies a corner lot near Wheelock Parkway and is a few blocks from Lake Phalen Park.
The duplex occupies a corner lot near Wheelock Parkway and is a few blocks from Lake Phalen Park.
Key Highlights
- 2,158‑square‑foot duplex built in 1926
- Main‑floor and upper‑level residences
- Three‑car garage, with one stall assigned to the main‑floor residence and two to the upper
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,530
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$630,600
$630.6K
Cap Rate 7%
$450,429
$450.4K
Cap Rate 9%
$350,333
$350.3K
Market Conditions
NOI Build-Up for 2,158 SF
Gross rent
$47.9K $22.20/SF
− Vacancy
−$2.9K −$1.33/SF
EGI
$45.0K $20.87/SF
− OpEx
−$13.5K −$6.26/SF
NOI
$31.5K $14.61/SF
Area
Ramsey 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 Rate 5%
$630,600
Cap Rate 7%
$450,429
Cap Rate 9%
$350,333
Alternative Uses
Best Use
Multifamily LT 5
$450.4K
$394.1K – $525.5K
NOI $31,530 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$413.7K
$362.0K – $482.7K
NOI $28,960 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$514.9K
$450.5K – $600.7K
NOI $36,040 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
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Business Placement
Demographics for 55106, MN
60,327
Population
19,974
Households
3
Avg Household Size
30
Median Age
23%
College-Educated
82%
High-School Grad
9.4 sq mi
ZIP Area
6,418
Density / Sq Mi
$68,601
Median Household Income
$39,834
Median Earnings
$1,230
Median Rent
$233,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Saint Paul, MN
Properties on Market for Duplexes in Saint Paul
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Main-floor and upper-level residences have separate living areas and assigned garage parking.
Where is this duplex located?
The property is located at 701 Sherwood Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 2,158‑square‑foot duplex built in 1926; Main‑floor and upper‑level residences; Three‑car garage, with one stall assigned to the main‑floor residence and two to the upper
