Duplex with Detached
787 Watson Avenue, Saint Paul, MN 55102
For Sale
$389,000
An updated lower flat, a leased upper residence, and separate garage space offer a flexible two-unit layout.
Property Size2,073 SF
Price / SF$187.65
Days on Market33
Property Features for 787 Watson Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
washer/dryer
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
JPW Realty
Listed By:
Josh A Pomerleau
(763) 463-7580
Source:
Thinkhl
Added: Oct 8
Changed: Nov 7
Last Checked: Nov 8 at 2:15PM
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 JPW Realty
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Investment Insights
Based on property information with market context.
Built in 1889, this duplex contains a vacant, refreshed three-bedroom, one-bath lower unit and an upper floor with a one-bedroom, one-bath residence, loft, and separate studio with its own entrance and three-quarter bath. The property totals 2,073 square feet. The upstairs tenant’s lease runs through June 2027. Each unit has its own washer and dryer, and improvements include the roof, water heater, sump pump, and appliances.
A detached 24-by-19-foot, two-car garage has tall ceilings, a small office, and additional storage potential. The property is in St. Paul’s West 7th neighborhood, with access to downtown St. Paul, Xcel Energy Center, United Hospital, MSP Airport, Mississippi River recreation, dining, and entertainment.
A detached 24-by-19-foot, two-car garage has tall ceilings, a small office, and additional storage potential. The property is in St. Paul’s West 7th neighborhood, with access to downtown St. Paul, Xcel Energy Center, United Hospital, MSP Airport, Mississippi River recreation, dining, and entertainment.
Key Highlights
- 1889‑built duplex with 2,073 square feet
- Vacant lower unit has 3 bedrooms, 1 bath, and updated flooring, paint, lighting, and ceiling fans
- Upper level includes a 1‑bedroom, 1‑bath residence with loft and a separate studio with private entrance and 3/4 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,288
Cap Rate
7.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,760
$605.8K
Cap Rate 7%
$432,686
$432.7K
Cap Rate 9%
$336,533
$336.5K
Market Conditions
NOI Build-Up for 2,073 SF
Gross rent
$46.0K $22.20/SF
− Vacancy
−$2.8K −$1.33/SF
EGI
$43.3K $20.87/SF
− OpEx
−$13.0K −$6.26/SF
NOI
$30.3K $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%
$605,760
Cap Rate 7%
$432,686
Cap Rate 9%
$336,533
Alternative Uses
Best Use
Multifamily LT 5
$432.7K
$378.6K – $504.8K
NOI $30,288 @ 7.0% cap · market cap 7.79%
Second Best
Apartment 5plus
$397.4K
$347.7K – $463.7K
NOI $27,819 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$494.6K
$432.8K – $577.0K
NOI $34,620 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
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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
$280,400
Median Home Value
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Market
Average Price Trend$/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 - An updated lower flat, a leased upper residence, and separate garage space offer a flexible two-unit layout.
Where is this duplex located?
The property is located at 787 Watson Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 1889‑built duplex with 2,073 square feet; Vacant lower unit has 3 bedrooms, 1 bath, and updated flooring, paint, lighting, and ceiling fans; Upper level includes a 1‑bedroom, 1‑bath residence with loft and a separate studio with private entrance and 3/4 bath
