Two-Unit Duplex with Updated
New
For Sale
$250,000
970 Sherburne Avenue, Saint Paul, MN 55104
Both apartments have two bedrooms, a full bath, and major equipment replaced in 2021.
Property Size1,400 SF
Price / SF$178.57
Days on Market1
Property Features for 970 Sherburne Avenue
General Information
Standard status
Active
Size
1,400 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Smart Choice Realty
Listed By:
Jay Hancock Real Estate
(612) 916-0245
Source:
Jayhancockrealestate
Added: Oct 7
Last Checked: Oct 7 at 10:22AM
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 Smart Choice Realty
Investment Insights
Based on property information with market context.
This two-unit duplex contains a main-level apartment and an upper-level apartment. Each has two bedrooms and one full bathroom. Both units received new air-conditioning equipment, refrigerators, stoves, washers, dryers, water heaters, furnaces, and electrical panels in 2021. The building dates to 1900, with three parking spaces behind it.
The property is near Metropolitan State University and downtown Saint Paul. Both apartments are occupied by tenants who have lived in place for multiple years; their current rental arrangements are month to month.
The property is near Metropolitan State University and downtown Saint Paul. Both apartments are occupied by tenants who have lived in place for multiple years; their current rental arrangements are month to month.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bath
- Air‑conditioning equipment, refrigerators, stoves, washers, dryers, water heaters, furnaces, and electrical panels replaced in 2021
- Three parking spaces at the rear
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,455
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,100
$409.1K
Cap Rate 7%
$292,214
$292.2K
Cap Rate 9%
$227,278
$227.3K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$31.1K $22.20/SF
− Vacancy
−$1.9K −$1.33/SF
EGI
$29.2K $20.87/SF
− OpEx
−$8.8K −$6.26/SF
NOI
$20.5K $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%
$409,100
Cap Rate 7%
$292,214
Cap Rate 9%
$227,278
Alternative Uses
Best Use
Multifamily LT 5
$292.2K
$255.7K – $340.9K
NOI $20,455 @ 7.0% cap · market cap 8.18%
Second Best
Apartment 5plus
$268.4K
$234.9K – $313.1K
NOI $18,788 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$334.0K
$292.3K – $389.7K
NOI $23,381 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
965
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Both apartments have two bedrooms, a full bath, and major equipment replaced in 2021.
Where is this duplex located?
The property is located at 970 Sherburne Avenue Saint Paul, MN.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bath; Air‑conditioning equipment, refrigerators, stoves, washers, dryers, water heaters, furnaces, and electrical panels replaced in 2021; Three parking spaces at the rear
