Occupied Duplex with Walk-Up
New
For Sale
$399,000
779 Delaware Avenue, Saint Paul, MN 55107
Both units are leased through August 2027 and include attached sun porches.
Property Size2,331 SF
Price / SF$171.17
Days on Market3
Property Features for 779 Delaware Avenue
General Information
Standard status
Active
Size
2,331 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1917
Buildings
1
Tenancy
Multi
Listing Agency:
Realty Executive Associates
Listed By:
The Antonov Group
(612) 445-4981
Source:
Theantonovgroup
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 22 at 1:47PM
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 Executive Associates
Investment Insights
Based on property information with market context.
This 2,331-square-foot duplex was built in 1917 and contains two residential units, each with two bedrooms and one full bathroom. Both layouts include an attached porch, while the property also provides a two-car garage. The upper residence has a walk-up attic that is currently unfinished, adding flexible storage or future improvement space.
The building is located at 779 Delaware Avenue in Saint Paul, near Cherokee Park, with access to the surrounding metro area. Both units are occupied under leases running through August 2027, creating a defined near-term tenancy period for the property.
The building is located at 779 Delaware Avenue in Saint Paul, near Cherokee Park, with access to the surrounding metro area. Both units are occupied under leases running through August 2027, creating a defined near-term tenancy period for the property.
Key Highlights
- 2,331‑square‑foot duplex built in 1917
- Two units, each with 2 bedrooms and 1 full bath
- Attached porch included with each residence
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
$34,058
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
8.54%
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%
$681,160
$681.2K
Cap Rate 7%
$486,543
$486.5K
Cap Rate 9%
$378,422
$378.4K
Market Conditions
NOI Build-Up for 2,331 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
$51.7K $22.20/SF
− Vacancy
−$3.1K −$1.33/SF
EGI
$48.7K $20.87/SF
− OpEx
−$14.6K −$6.26/SF
NOI
$34.1K $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%
$681,160
Cap Rate 7%
$486,543
Cap Rate 9%
$378,422
Alternative Uses
Best Use
Multifamily LT 5
$486.5K
$425.7K – $567.6K
NOI $34,058 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$446.9K
$391.0K – $521.4K
NOI $31,281 @ 7.0% cap · market cap 7.84%
Theoretical Best
Healthcare Medical
$573.6K
$501.9K – $669.2K
NOI $40,154 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Explore this area
Business Placement
Demographics for 55107, MN
15,383
Population
6,063
Households
2.5
Avg Household Size
34
Median Age
31%
College-Educated
89%
High-School Grad
4.1 sq mi
ZIP Area
3,752
Density / Sq Mi
$78,125
Median Household Income
$46,197
Median Earnings
$1,335
Median Rent
$259,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Both units are leased through August 2027 and include attached sun porches.
Where is this duplex located?
The property is located at 779 Delaware Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,331‑square‑foot duplex built in 1917; Two units, each with 2 bedrooms and 1 full bath; Attached porch included with each residence
