Duplexes and Triplexes for Sale in St. Paul
Buyer’s Agent: Drew Hoefler
Seller’s Agent: Edina Realty
We had another one of our buyers find a great duplex, but this time it was in South St. Paul.
While the hottest market for duplexes has been Minneapolis and St. Paul, it’s important to remember that the Twin Cities has more than 30,000 duplexes and triplexes – making it one of the most “duplex dense” opportunities in the country.
There are very few cities in the country that have as many duplexes and triplexes for sale as the Twin Cities, which means that there are tremendous opportunities for people to build real estate portfolios out of these lower complexity investment properties.
That’s one of the most beautiful things about a duplex or triplex, they can be purchased with regular financing from FHA or a more traditional lender – with down payments ranging between 0 and 20%. This means that somebody can start with an investment property as an owner-occupier with very little cash down.
Not only are the properties easier to purchase because you can use the financing tools available to first-time homebuyers, but you’ll be able to purchase more home because the projected rental income will be considered in your preapproval process nearly every time.
That means that if you were approved for a certain amount because of your income, you’ll be able to purchase more house because the mortgage company is going to take into consideration this future potential income source of a duplex renter.
This means that you will be able to purchase more home, and if you have the healthy down payment, you might be able to live for free or even have positive cash flow for your owner-occupied duplex.
We mentioned above that a duplex is also much easier to manage than a traditional investment property. Duplexes and triplexes are much less complex than trying to rent out apartments with lots of units.
We’ve often mentioned in our blogs that duplexes and triplexes allow regular investors to purchase rental properties while apartments tend to have investors that are more cutthroat and have much deeper pockets.
So don’t forget to consider duplexes in many of the various suburbs or different areas in the Twin Cities. You might be able to find a duplex for sale in Apple Valley, Robbinsdale, North Oaks, or even Minnetonka –It’s not always about finding Minneapolis duplexes for sale.
Remember that if you’re going to be purchasing a duplex, it’s incredibly important to work with a duplex specialist that can help you navigate the buying process and to properly value a potential purchase.
Even if you were an experienced investor, we would invite you to have a conversation with us so that we can be your experts. We do not waste our time with single-family real estate transactions, we only work with rental properties and investment properties in Minneapolis and the surrounding Twin Cities region. This is all we do and we do it well.
We each have our own real estate portfolios and have helped hundreds of buyers and sellers over the last 15 years. Just in the last five years, we have done more duplex transactions in Minneapolis and St. Paul than any other real estate agent.
We are confident that we can help duplex sellers get top value, in the shortest time, with the fewest problems – and we know that buyers will be able to find the perfect property and position themselves to win in the offering battle.
Just give us a call, contact us on this website, or shoot us an email and we would be delighted to have a starter consultation to understand what your goals might be.
Edina Realty was the listing company with this property.
Also published on Medium.