Updated Duplex with Solar
For Sale
$375,000
840 Randolph Ave, Saint Paul, MN 55102
Two distinct residences combine original character, modern updates, and flexible rental use in a well-maintained duplex.
Property Size1,688 SF
Price / SF$222.16
Days on Market10
Property Features for 840 Randolph Ave
General Information
Standard status
Active
Size
1,688 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,535
Amenities
solar array
Building Details
Year Built
1909
Buildings
1
Listing Agency:
Edina Realty, Inc.
(612) 799-7574
Listed By:
Jessie C. McClary, GRI
(612) 799-7574
Source:
Exprealty
Added: Jul 30
Changed: Aug 7
Last Checked: Aug 8 at 9:53AM
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 Edina Realty, Inc.
Investment Insights
Based on property information with market context.
Located at 840 Randolph Ave in Saint Paul’s West 7th area, this 1909 duplex pairs a spacious three-bedroom main residence with a separate one-bedroom apartment upstairs. The primary unit includes living and dining rooms, two baths, laundry, basement storage, and workspace. Original woodwork and a built-in buffet remain, while flooring, a bathroom, appliances, the roof, and mechanical systems have been updated. Separate furnaces and electrical panels serve the two residences.
A 16-panel solar array helps reduce energy costs, and the garage—built within the last 5 years—includes a 240V outlet. The property is near Mucci’s Italian, A-Side Public House, Bay Street Burger Dive, Palace Park, and the Mississippi River. The upper apartment is suited to traditional, furnished, or short-term rental use as described.
A 16-panel solar array helps reduce energy costs, and the garage—built within the last 5 years—includes a 240V outlet. The property is near Mucci’s Italian, A-Side Public House, Bay Street Burger Dive, Palace Park, and the Mississippi River. The upper apartment is suited to traditional, furnished, or short-term rental use as described.
Key Highlights
- 1909 duplex with a 3‑bedroom main residence and separate 1‑bedroom apartment
- 16‑panel solar array designed to reduce energy costs
- Main unit includes 2 baths, laundry, basement storage, and workspace
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
$24,663
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
6.58%
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%
$493,260
$493.3K
Cap Rate 7%
$352,329
$352.3K
Cap Rate 9%
$274,033
$274.0K
Market Conditions
NOI Build-Up for 1,688 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
$37.5K $22.20/SF
− Vacancy
−$2.2K −$1.33/SF
EGI
$35.2K $20.87/SF
− OpEx
−$10.6K −$6.26/SF
NOI
$24.7K $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%
$493,260
Cap Rate 7%
$352,329
Cap Rate 9%
$274,033
Alternative Uses
Best Use
Multifamily LT 5
$352.3K
$308.3K – $411.1K
NOI $24,663 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$323.6K
$283.2K – $377.5K
NOI $22,652 @ 7.0% cap · market cap 6.04%
Theoretical Best
Healthcare Medical
$415.4K
$363.5K – $484.6K
NOI $29,077 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences combine original character, modern updates, and flexible rental use in a well-maintained duplex.
Where is this duplex located?
The property is located at 840 Randolph Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1909 duplex with a 3‑bedroom main residence and separate 1‑bedroom apartment; 16‑panel solar array designed to reduce energy costs; Main unit includes 2 baths, laundry, basement storage, and workspace
