Updated Duplex with In-Unit
For Sale
$269,900
828 Englewood Ave, Saint Paul, MN 55104
Two matching units offer separate entrances, refreshed interiors, and off-street parking options near downtown, campuses, and freeway access.
Property Size1,452 SF
Price / SF$185.88
Days on Market9
Property Features for 828 Englewood Ave
General Information
Standard status
Active
Size
1,452 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
in-unit laundry
separate entrances
off-street parking
Building Details
Year Built
1913
Buildings
1
Listing Agency:
RE/MAX Results
(651) 698-8006
Listed By:
Christopher A Deming
Source:
Homesminn
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 31 at 6:31PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This two-unit residential income property was built in 1913 and features nearly identical floor plans. Each unit includes three bedrooms, a full bathroom with in-unit laundry, a kitchen, and a spacious living room. Separate entrances provide distinct access for each household. Property improvements include a 2010 roof, refinished hardwood floors, newer windows, updated appliances, and a washer and dryer in each unit.
Located at 828 Englewood Ave in Saint Paul, the duplex is positioned near downtown areas, university campuses, and the freeway system. Off-street parking options serve the property and add practical convenience for occupants.
Located at 828 Englewood Ave in Saint Paul, the duplex is positioned near downtown areas, university campuses, and the freeway system. Off-street parking options serve the property and add practical convenience for occupants.
Key Highlights
- Nearly identical 3‑bedroom floor plans in both units
- Each unit includes a full bathroom with in‑unit laundry
- Separate entrances for each unit
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
$21,215
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
7.86%
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%
$424,300
$424.3K
Cap Rate 7%
$303,071
$303.1K
Cap Rate 9%
$235,722
$235.7K
Market Conditions
NOI Build-Up for 1,452 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
$32.2K $22.20/SF
− Vacancy
−$1.9K −$1.33/SF
EGI
$30.3K $20.87/SF
− OpEx
−$9.1K −$6.26/SF
NOI
$21.2K $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%
$424,300
Cap Rate 7%
$303,071
Cap Rate 9%
$235,722
Alternative Uses
Best Use
Multifamily LT 5
$303.1K
$265.2K – $353.6K
NOI $21,215 @ 7.0% cap · market cap 7.86%
Second Best
Apartment 5plus
$278.4K
$243.6K – $324.8K
NOI $19,485 @ 7.0% cap · market cap 7.22%
Theoretical Best
Healthcare Medical
$357.3K
$312.7K – $416.9K
NOI $25,012 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
949
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two matching units offer separate entrances, refreshed interiors, and off-street parking options near downtown, campuses, and freeway access.
Where is this duplex located?
The property is located at 828 Englewood Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Nearly identical 3‑bedroom floor plans in both units; Each unit includes a full bathroom with in‑unit laundry; Separate entrances for each unit
