1047 5th St E

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,631 sq ft

Saint Paul, MN · Dayton's Bluff · View the listing ↗

Overpriced

14 photos

Photos courtesy of Keller Williams Realty, via Realtor.com.

Asking price: $289,900
Monthly cash flow: −$467
Estimated rent: $2,550/mo
Break-even price: $202,093

Adjust the numbers See the full breakdown

From the listing

Welcome to 1047 5th Street E, a charming Saint Paul duplex filled with character, space, and opportunity! Whether you're looking to owner-occupy and have additional rental income, add another property to your investment portfolio, or create a setup for extended family, this home gives you plenty of options. From the moment you arrive, you'll appreciate the classic Saint Paul charm along with some of the major updates that have already been taken care of. The siding, roof, and windows were all replaced in 2024, giving you a great combination of original character and important improvements. Step inside through the bright enclosed front porch, surrounded by windows and offering the perfect spot for morning coffee, relaxing with a book, or enjoying the changing Minnesota seasons. Inside, hardwood floors, natural light, and timeless details give the home the warmth and personality you just don't find in newer construction. The main-floor unit features a large kitchen with granite countertops, plenty of cabinet and prep space, and room to gather with family and friends. The spacious layout continues into comfortable living areas that offer flexibility for everyday living and entertaining while still keeping the character that makes this home special. The second unit creates even more possibilities, whether you're looking for rental income, additional living space for family, or simply a smart way to build your real estate portfolio. With two separate living spaces and major exterior improvements already completed, this is a property that gives you options now and for years to come. Conveniently located near parks, shopping, dining, everyday amenities, and everything Saint Paul has to offer, 1047 5th Street E is more than just a duplex-it's an opportunity. Live in one and rent the other, add it to your portfolio, or make it work for your lifestyle. Schedule your showing today!

Listing courtesy of Keller Williams Realty (Deantrie Adams). Description from Realtor.com, MLS #7144623. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 1914 up/down in Dayton's Bluff with a 2024 roof, siding and windows, which removes the biggest capital items. The numbers don't work at $289,900. Our underwriting shows about -$467 a month and a 4.45% cap rate, and the price is nearly $88K above break-even. Rent estimates are only about $1,275 per unit, so rents won't close that gap. The description gives no rents, no lease terms, no utility details and no second-unit description, and the photos show only the main floor. Ask for the rent roll, the upper unit's condition and the heating setup first. At this price it's only worth a showing if the seller moves a lot or you plan to live in one unit.

Things to consider

Price is far above what rents support Our underwriting shows negative monthly cash flow and a break-even price about $88K below ask. Only a big price cut or an owner-occupant plan makes it work.
Upper unit is a blank Half the income and condition risk is undescribed, with no photos, rent or lease information. Don't offer before seeing it.Listing says: “The second unit creates even more possibilities, whether you're looking for rental income”
Rents are modest and capped for sitting tenants Estimates are about $1,275 per 2-bed. St. Paul's 3% cap limits how fast rents can rise on existing tenants.
New exterior lowers capital risk A 2024 roof, siding and windows mean fewer big near-term bills, but interior systems are unknown.Listing says: “The siding, roof, and windows were all replaced in 2024”
Taxes are at the non-homestead rate The county shows $5,466 in tax with no homestead, plus assessments. That is a heavy cost against rents of about $2,550 combined.

From the photos

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

Condition and repairs

doneSiding replacedListing says: The siding, roof, and windows were all replaced in 2024
doneRoof replacedListing says: The siding, roof, and windows were all replaced in 2024
doneWindows replacedListing says: The siding, roof, and windows were all replaced in 2024

AI-assisted first read of the listing description and photos (Claude), checked against public records. Every rent and repair above quotes the listing; verify with the agent, leases and an inspection.

The numbers

Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price: $289,900
Cash to close: $66,677
Price per unit: $144,950
GRM: 9.5

Each month

Cash flow: −$467/mo
Cash-on-cash: −8.4%
Cap rate: 4.5%
DSCR: 0.70×

Break-even

Price that breaks even: $202,093
Rent that breaks even: $3,157/mo

Long run

Year 30: property vs stocks: $746K vs $749K
Cash flow turns positive: year 16

Monthly

Monthly breakdown

Rent	$2,550
Vacancy (6%)	−$153
Collected	$2,397
Property tax Public record	−$455
Insurance Estimate	−$202
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$204
Capital reserve (9% of rent)	−$230
Net operating income	$1,076
Mortgage (principal + interest)	−$1,543
Cash flow	−$467
Principal paid down (equity, not cash)	$196

Cash flow each year

Rents +3%/yr (St. Paul's cap for sitting tenants), costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

If you buy this building$745,727

Your equity when you sell: $661,443
Rental profits, invested at 7%: $84,283

Same money in stocks$749,479

Cash to close, invested at 7%: $507,562
Monthly shortfalls, invested: $241,916

Stocks come out $3,752 ahead after 30 years.

Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $746K, stocks $749K. Stocks win.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-06. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

2 bed estimate $1,275/mo · range $1,175–$1,350 · 8 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
948 Euclid St Unit 1, Saint Paul	$1,400	2 / 1	972	0.4 mi	2026-09-23	Apartment
207 N Maple St, Saint Paul	$1,150	2 / 1	600	0.6 mi	2026-03-12	Apartment
1000 McLean Ave, Saint Paul	$1,299	2 / 1	734	0.7 mi	2026-07-14	Apartment
283-289 Bates Ave, Saint Paul	$1,124	2 / 1	711	0.7 mi	2026-04-29	Apartment
1351 Conway St, Saint Paul	$1,179	2 / 1	756	0.7 mi	2024-06-02	Apartment
701 E 3rd St, Saint Paul	$1,099	2 / 1	880	0.7 mi	2024-04-15	Apartment
1034 Suburban Ave E Unit 307, Saint Paul	$1,270	2 / 1	620	0.7 mi	2026-05-02	Apartment
1034 Suburban Ave E Unit 301, Saint Paul	$1,270	2 / 1	620	0.7 mi	2026-05-02	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

highNo rents, leases or occupancy given. The upper unit is barely described, so income is unverified. Listing says: The second unit creates even more possibilities, whether you're looking for rental income · AI review
mediumAsking is $87,807 above the price where cash flow breaks even ($202,093) at the default scenario. Based on: Derived: price $289,900 vs. break-even $202,093
mediumRental license is only pending, and it expires 2026-10-07. Confirm it is current and covers two units. Based on: data: city.rental_license · AI review
mediumSeller bought at $249K in 2022 and asks $289,900 now. County market value is $268,800. Based on: data: county.last_sale_price · AI review
low$572 in special assessments on the payable 2026 tax bill (often street, sewer or code-enforcement charges). Ask what they're for, whether they continue, and whether the seller pays them off at closing. Public record: Ramsey County parcel 332922210108: special assessments (payable 2026) = $572.02
lowMarketed to owner-occupants as much as investors, so pricing may not reflect rental income. Listing says: Live in one and rent the other, add it to your portfolio, or make it work for your lifestyle. · AI review

Opportunities

Exterior capital items are done, so near-term reserves can be lower. Verify permits. Listing says: The siding, roof, and windows were all replaced in 2024 · AI review
House-hack option: live in one unit and rent the other to offset the cost. Listing says: Whether you're looking to owner-occupy and have additional rental income · AI review
The main unit's kitchen is already updated, so it should rent well and need little work. Based on: photo 7 · AI review

Questions for the agent

What are the current rents and lease end dates for each unit? Is either month-to-month, or is either vacant?
What are the $572 in special assessments for, and does the seller pay them off at closing?
Is heat separate for each unit, or is there one furnace? Who pays gas, electric and water?
Are permits on file for the 2024 roof, siding and windows?
What condition is the upper unit in? Can I see photos of it, the basement, the furnace and the electrical panel?
Is the St. Paul rental license current for two units, and why is its status pending?

Bottom line

Updated exterior and a nice main-floor kitchen, but at $289,900 the rents can't carry it, so only pursue it as a house-hack or at a much lower price. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)	$5,466
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,429
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$170
Heat / mo Assumptionassumption. tenants pay heat; confirm with the agent	$0
Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal	$60
Repairs / capital reserve Rulerule. built 1914: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-09-15 (20 days); last sold for $249,000 on 2022-03-17.

Date	Event	Price
2026-09-15	Listed	$289,900
2022-03-17	Sold	$249,000
2022-02-08	Relisted	$234,900
2022-02-05	Removed	—
2022-01-28	Relisted	$234,900
2022-01-27	Removed	$234,900
2022-01-24	Relisted	$234,900
2022-01-23	Removed	$234,900
2022-01-20	Listed	$234,900
2019-11-06	Sold public record	$137,000
2009-01-15	Sold public record	$88,926
2003-11-07	Sold public record	$163,000
2002-02-07	Sold public record	$55,000
1995-10-10	Sold public record	$31,000

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1914
Market value (2026)	$268,800
Property tax, payable 2026	$5,466
Special assessments	$572
Homestead	no
Last sale	2022-03-15 · $249,000

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), B, status pending, renews 2026-10-07.

Nearest highway

I 94;US 10;US 61, about 873 m away.

Crime in Dayton's Bluff

970 incidents in the last 12 months (52 per 1,000 residents), −6% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.