Duplex with Basement
985 Cypress Street, Saint Paul, MN 55106
For Sale
$385,000
Two-unit property with basement space that could support additional bedrooms after egress work.
Property Size1,423 SF
Price / SF$270.56
Days on Market25
Property Features for 985 Cypress Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
Bee Realty, LLC
Listed By:
Bee V. Yang
(651) 283-6680
Source:
Caibert
Added: Oct 16
Changed: Nov 8
Last Checked: Nov 9 at 6:59AM
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 Bee Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1964, this 1,423-square-foot duplex is arranged as two units, each with two bedrooms and one bathroom. Basement egress windows could allow the property to be reconfigured for six bedrooms total. Existing basement toilets could also be converted to half baths, subject to the needed work.
The property is on Saint Paul’s East Side, near schools, parks, and local amenities.
The property is on Saint Paul’s East Side, near schools, parks, and local amenities.
Key Highlights
- Two units, each configured with 2 bedrooms and 1 bathroom
- 1,423‑square‑foot property built in 1964
- Basement egress windows could enable a 6‑bedroom layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,791
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,820
$415.8K
Cap Rate 7%
$297,014
$297.0K
Cap Rate 9%
$231,011
$231.0K
Market Conditions
NOI Build-Up for 1,423 SF
Gross rent
$31.6K $22.20/SF
− Vacancy
−$1.9K −$1.33/SF
EGI
$29.7K $20.87/SF
− OpEx
−$8.9K −$6.26/SF
NOI
$20.8K $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%
$415,820
Cap Rate 7%
$297,014
Cap Rate 9%
$231,011
Alternative Uses
Best Use
Multifamily LT 5
$297.0K
$259.9K – $346.5K
NOI $20,791 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$272.8K
$238.7K – $318.3K
NOI $19,096 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$339.5K
$297.1K – $396.1K
NOI $23,765 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
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Business Placement
Demographics for 55106, MN
60,327
Population
19,974
Households
3
Avg Household Size
30
Median Age
23%
College-Educated
82%
High-School Grad
9.4 sq mi
ZIP Area
6,418
Density / Sq Mi
$68,601
Median Household Income
$39,834
Median Earnings
$1,230
Median Rent
$233,000
Median Home Value
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Market
Average Price Trend$/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 - Two-unit property with basement space that could support additional bedrooms after egress work.
Where is this duplex located?
The property is located at 985 Cypress Street Saint Paul, MN.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two units, each configured with 2 bedrooms and 1 bathroom; 1,423‑square‑foot property built in 1964; Basement egress windows could enable a 6‑bedroom layout
