Cash flows7 days on marketPending
1066 Ross Ave, Saint Paul
Duplex · 2 units: 3 bed / 1.5 bath and 2 bed / 1.5 bath unit split estimated · 2,761 sq ft · Dayton's Bluff · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
+$146 monthly cash flow
After every cost, including reserves for vacancy and repairs, this duplex puts about $146 a month in your pocket. That’s a 3.4% yearly return on the $51,750 you’d put in.
At $225,000, 20% down, 7.00% for 30 years, self-managed.
- Cash-on-cash return
- 3.4% Yearly cash flow ÷ cash in
- Cap rate
- 7.2% Return if you paid all cash
- Cash to close
- $51,750 Down payment + closing costs
- Break-even price
- $252,432 Most you can pay and still cash flow
Boardwalk’s take
AI-assisted · checked against public recordsA cheap, dated 1875 duplex that needs real money, and it only works if the rehab is priced before you offer.
This is a 1875 up/down in Dayton's Bluff listed at $225K as a gut-level fixer, and the description says it needs substantial renovation. Our numbers show about $146/month cash flow at ask with a 7.2% cap rate, but that assumes today's rents and a building that isn't yet rentable, so the real number depends on rehab cost. Rents here are capped at 3% a year for sitting tenants, so there is little room to catch up after the work if tenants stay. Photos show dated but livable finishes, two water heaters, and no boiler or furnace photo, so get a contractor in before offering. Worth a showing only if you can price the rehab and the third-floor idea honestly, and the third-floor unit is not income until the city approves it.
Things to consider
- Rehab cost drives the whole deal The numbers at ask assume rentable units, but the listing says substantial renovation is needed. Get quotes first.Listing says: “The property needs substantial renovation and offers an opportunity to restore and improve a spacious multifamily building.”
- 3% rent cap limits post-rehab upside If tenants are in place, you can't reset rents to market quickly. A vacant rehab avoids the cap.
- Investor tax bill will be higher than the seller's The seller's homestead tax is $3,304, but an investor pays more, which cuts cash flow.
- Special assessments add cost $672 on the payable bill may continue or be due at closing. It changes your carrying costs.
- Third-floor unit is not counted Adding a unit needs city approval and more construction. Treat it as a bonus, not a basis for price.Listing says: “The third floor offers potential for an additional unit, subject to city approval and applicable requirements.”
- Separate systems help but need checking Separate utilities simplify expenses, but the age of the water heaters and heating should be confirmed.From photo 9
The listing, and how its numbers compare
MLS #7140145What the seller says
Investor special! This large duplex features two two-bedroom units, separate utilities, decks, and off-street parking in the rear. Bring your contractor, roll up your sleeves, and explore the possibilities. The property needs substantial renovation and offers an opportunity to restore and improve a spacious multifamily building. The third floor offers potential for an additional unit, subject to city approval and applicable requirements. Bring your ideas and vision to make the most of this investment opportunity!
Listing courtesy of RE/MAX Results (Paul St Andrew).
The seller’s numbers vs. ours (yearly)
| Line | Seller | Boardwalk |
|---|---|---|
| Property tax | $3,976 (2026) | — |
Seller’s figures as stated in the listing. Ours include vacancy and reserves, and update with your edits.
The building
- Type
- Duplex Up and Down
- Year built
- 1875
- Living area
- 2,761 sq ft
- Exterior
- Vinyl
- Basement
- Partial
Systems and utilities
- Heating
- Baseboard, Forced Air · Natural Gas
- Water / sewer
- City Water · City Sewer
Parking and lot
- Lot
- 0.07 acres · 25 x 127
- Zoning
- Residential-Multi-Family
Description and facts from Realtor.com. View on Realtor.com ↗
The model: change anything
Every input shows where it came from. Edit one and the whole page updates.
Each month
| Rent | $2,925 |
| Vacancy | −$176 |
| Property tax | −$363 |
| Insurance | −$228 |
| Water, sewer, trash | −$170 |
| Repairs and capital reserve | −$585 |
| Net operating income | $1,344 |
| Mortgage (principal + interest) | −$1,198 |
| Cash flow | $146 |
Detailed assumptions
30 years: this building vs. the same money in stocks
The building comes out $776K aheadYear 30 (loan paid off): this building $1,170,200, the same money in stocks $393,934.
Monthly cash flow, year 1 to year 30
See it as a line: this building vs. stocks, year by year
Rents +3% a year (St. Paul’s cap for sitting tenants), costs +3.5%, value +3%, stocks 7%, 6% to sell. Future dollars: at 3% inflation, divide year-30 figures by about 2.4 for today’s buying power. Red bars are months you’d cover out of pocket.
Rent estimate and comparable rentals
3 bed: $1,650/mo · range $1,525–$1,875 · 12 rentals within 1 mi · medium confidence
Median asking rent of nearby rentals with the same bedroom count (within 1 mile): for rent now or leased in the last 3 years (past rents brought to today at 3% a year), from Realtor.com rental listings. Range is the middle half of those rents. Asking rents, not signed leases. Rent rules: Capped at 3%/yr for sitting tenants.
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| Ross Ave Unit 1090, Saint Paul | $1,910 | 3 / 1 | 0.1 mi |
| 1100 Minnehaha Ave E Unit 2, Saint Paul | $1,870asked $1,850 | 3 / 1 | 0.2 mi |
| 1124 Minnehaha Ave E Apt 1, Saint Paul | $1,750 | 3 / 1 | 0.2 mi |
| 1237 7th St E, Saint Paul | $1,610asked $1,595 | 3 / 1 | 0.4 mi |
| 1237 7th St E Unit 1, Saint Paul | $1,611asked $1,595 | 3 / 1 | 0.4 mi |
| 962 6th St E, Saint Paul | $1,545 | 3 / 1 | 0.4 mi |
| 914 Lawson Ave E, Saint Paul | $1,487asked $1,450 | 3 / 1 | 0.5 mi |
| 1056 3rd St E Unit 1, Saint Paul | $2,100 | 3 / 1 | 0.6 mi |
| 1056 3rd St E, Saint Paul | $1,698asked $1,695 | 3 / 1 | 0.6 mi |
| 1428 7th St E, Saint Paul | $1,871 | 3 / 2 | 0.7 mi |
Asking rents from Realtor.com listings, not signed leases.
2 bed: $1,275/mo · range $1,075–$1,450 · 12 rentals within 0.75 mi · medium confidence
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 1115 York Ave Apt 9, Saint Paul | $1,268asked $1,250 | 2 / 1 | 0.2 mi |
| 1015 York Ave Apt 5, Saint Paul | $1,080asked $1,075 | 2 / 1 | 0.2 mi |
| 1165 Minnehaha Ave E Unit 2, Saint Paul | $1,264asked $1,249 | 2 / 1 | 0.2 mi |
| 1254 Beech St Unit 2, Saint Paul | $1,376asked $1,350 | 2 / 1 | 0.5 mi |
| 884 Margaret St E, Saint Paul | $1,350 | 2 / 1 | 0.5 mi |
| 914 Lawson Ave E, Saint Paul | $1,490 | 2 / 1 | 0.5 mi |
| 602 N Mendota St Unit 9, Saint Paul | $1,520asked $1,495 | 2 / 1 | 0.6 mi |
| Fremont Ave Unit 2, Saint Paul | $1,500 | 2 / 1 | 0.6 mi |
| 870 E Cook Ave Unit 4, Saint Paul | $1,067asked $1,050 | 2 / 1 | 0.7 mi |
| 1269 Cook Ave E Apt 105, Saint Paul | $1,089asked $1,075 | 2 / 1 | 0.7 mi |
Asking rents from Realtor.com listings, not signed leases.
What the photos show
AI review of 10 listing photosCondition and repairs the listing claims
Needed Substantial renovation needed throughout
Photos can hide as much as they show; an inspection is the real answer.
Red flags and opportunities
Serious changes whether this is a good buy and keeps it out of our top picks. Check means ask before an offer. Minor is worth knowing. Each one shows its source.
Watch for
- checkThe seller is homesteaded, so the current tax bill is lower than what an investor will pay. We use an estimated non-homestead tax instead. Public record: Ramsey County parcel 282922430142: homestead=Y
- checkThird-floor unit is unapproved and speculative Listing says: The third floor offers potential for an additional unit, subject to city approval and applicable requirements. · AI review
- checkNo rental license on file with the city Based on: data: city.rental_license · AI review
- checkVery old building (1875) with a rough scope of work Based on: data: listing.year_built · AI review
- minor$672 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 282922430142: special assessments (payable 2026) = $672.36
- minor"Investor special" is code for deferred maintenance. Get contractor quotes before offering. Listing says: "Investor special ! This large duplex features two two-bedroom units"
- minorBed count mismatch: listing shows 5 beds but description says two 2-bedroom units Based on: data: listing.beds · AI review
Opportunities
- Possible added third-floor unit if the city approves it Listing says: The third floor offers potential for an additional unit, subject to city approval and applicable requirements. · AI review
- Separate utilities mean tenants likely pay their own Listing says: This large duplex features two two-bedroom units, separate utilities, decks, and off-street parking in the rear. · AI review
- Off-street parking at the rear Listing says: decks, and off-street parking in the rear · AI review
Questions for the agent
- What is the scope and any contractor quotes behind 'substantial renovation'?
- Is the building currently occupied, and are there any rents or leases?
- What are the $672 in special assessments for, and does the seller pay them off at closing?
- Is the rental license current, and has the city inspected the building?
- Has anyone talked to the city about the third-floor unit, and what would it require?
- How old are the roof, heating system, and electrical panels?
What the records say
Price history · Realtor.com
On the market since 2026-10-26 (7 days); last sold for $159,900 on 2017-04-01.
| Date | Event | Price |
|---|---|---|
| Listed | $225,000 | |
| Sold | $159,900 | |
| Listed | $159,900 | |
| Sold public record | $51,337 | |
| Sold public record | $185,000 | |
| Sold public record | $70,000 | |
| Sold public record | $87,000 |
Permit history · City records
No permits on file since 2015-07.
St. Paul approved building permits; St. Paul's public permit file stops at June 2025. Only work done with a permit shows up, so ask about anything the listing says was updated that isn’t here.
County record · Ramsey County
| Recorded as | Two family dwelling - up/dwn, 2 units |
| Year built | 1875 |
| Market value (2026) | $207,500 |
| Property tax, payable 2026 | $3,304 |
| Special assessments | $672 |
| Homestead | Yes |
| Last sale | 2017-03-31 · $159,900 |
| City rental certificate (cofo) | None on file |
| Nearest highway | I-94;US-10;US-61, about 1.5 km |
Crime in Dayton's Bluff
999 incidents in the last 12 months (54 per 1,000 residents; about the city rate), −0% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.
Location
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Educational analysis, not financial, legal or real estate advice. AI-assisted first read of the listing description and photos, checked against public records. Verify with the agent, leases and an inspection. Prepared 2026-11-02.