1113 Edgerton St
Triplex · 3 units: 3 bed / 1.5 bath ×3 unit split estimated · 2,672 sq ft
Saint Paul, MN · Payne – Phalen (Railroad Island) · View the listing ↗
Photos courtesy of Keller Williams Premier Realty, via Realtor.com.
- Asking price
- $535,000 3 units · $178K per unit
- Monthly cash flow
- $437 at 20% down, 7%
- Estimated rent
- $5,325/mo medium confidence
- Break-even price
- $617,043 where cash flow hits $0
First look
The listing calls this a four-plex, but county records say three units and the city rental license is for four and shows Pending with an expired date. Sort that out first, because the unit count drives rents, insurance, financing and legality. The seller paid $400K in Feb 2025 and now asks $535K after new siding, roof and mechanicals. Our model shows about $437/mo cash flow at ask, but it assumes three 3-beds at $1,775 each, which doesn't match the described mix of 3BR/2BA, 3BR/1BA, 2BR/1BA and a studio. The only stated rent is $1,300 for the top floor. Get the actual rent roll and the permits for the 2025 work before you spend time on a showing.
Things to consider
- Unit count and licensing Three vs four units changes rents, financing and legality. A pending license makes the fourth unit a risk.
- Price jump vs. last sale A 34% increase in 19 months needs to be backed by documented work and real rents, or the price is hard to justify.
- Our rent model doesn't match the stated mix We priced three 3-beds at $1,775, but the description lists a studio and a 2BR at $1,300. Actual income may be lower or higher, so rebuild from the rent roll.
- Turnover while selling Two units are about to be vacated, so expect vacancy and make-ready costs. It also gives you a chance to reset rents.Listing says: “the 3BR/2BA tenant has expressed the same, so a buyer can occupy while the remaining units generate”
- Break-even price is above ask Our numbers show positive cash flow at ask under our assumptions, but they rest on estimated rents and low taxes. Re-run with real rents and a non-homestead tax estimate.
From the photos
Based on 5 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Rents the listing states
- Top floor 2br/1ba: $1,300Listing says: a 2BR/1BA top-floor unit currently at $1,300
Condition and repairs
- doneNew siding and new roof (2025)Listing says: new siding and new roof in 2025, newer windows, new water heaters and boiler
- doneNew water heaters and boilerListing says: new siding and new roof in 2025, newer windows, new water heaters and boiler
- doneBasement updated with tenant storage unitsListing says: The basement has been updated with built-out tenant storage units
- doneNew flooring in Unit 3Listing says: roughly 75% new appliances, and new flooring in Unit 3
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
- $535,000
- Cash to close
- $69,550
- Price per unit
- $178,333
- GRM
- 8.4
Each month
- Cash flow
- −$220/mo
- Cash-on-cash
- −3.8%
- Cap rate
- 7.4%
- DSCR
- 0.94×
Break-even
- Price that breaks even
- $501,382
- Rent that breaks even
- $5,615/mo
Long run
- Year 30: property vs stocks
- $2.57M vs $560K
- Cash flow turns positive
- year 4
The deal
- Price
- $535,000
- Cash to close
- $69,550
- Price per unit
- $178,333
- GRM
- 8.4
Each month
- Cash flow
- −$671/mo
- Cash-on-cash
- −11.6%
- Cap rate
- 6.4%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $432,606
- Rent that breaks even
- $6,318/mo
Long run
- Year 30: property vs stocks
- $2.01M vs $703K
- Cash flow turns positive
- year 6
The deal
- Price
- $525,000
- Cash to close
- $68,250
- Price per unit
- $175,000
- GRM
- 8.2
Each month
- Cash flow
- −$155/mo
- Cash-on-cash
- −2.7%
- Cap rate
- 7.5%
- DSCR
- 0.96×
Break-even
- Price that breaks even
- $501,382
- Rent that breaks even
- $5,529/mo
Long run
- Year 30: property vs stocks
- $2.60M vs $538K
- Cash flow turns positive
- year 3
The deal
- Price
- $525,000
- Cash to close
- $68,250
- Price per unit
- $175,000
- GRM
- 8.2
Each month
- Cash flow
- −$605/mo
- Cash-on-cash
- −10.6%
- Cap rate
- 6.5%
- DSCR
- 0.82×
Break-even
- Price that breaks even
- $432,606
- Rent that breaks even
- $6,221/mo
Long run
- Year 30: property vs stocks
- $2.03M vs $671K
- Cash flow turns positive
- year 5
The deal
- Price
- $535,000
- Cash to close
- $123,050
- Price per unit
- $178,333
- GRM
- 8.4
Each month
- Cash flow
- $437/mo
- Cash-on-cash
- 4.3%
- Cap rate
- 7.4%
- DSCR
- 1.15×
Break-even
- Price that breaks even
- $617,043
- Rent that breaks even
- $4,750/mo
Long run
- Year 30: property vs stocks
- $3.03M vs $937K
- Cash flow turns positive
- year 1
The deal
- Price
- $535,000
- Cash to close
- $123,050
- Price per unit
- $178,333
- GRM
- 8.4
Each month
- Cash flow
- −$14/mo
- Cash-on-cash
- −0.1%
- Cap rate
- 6.4%
- DSCR
- 1.00×
Break-even
- Price that breaks even
- $532,402
- Rent that breaks even
- $5,345/mo
Long run
- Year 30: property vs stocks
- $2.33M vs $938K
- Cash flow turns positive
- year 2
The deal
- Price
- $525,000
- Cash to close
- $120,750
- Price per unit
- $175,000
- GRM
- 8.2
Each month
- Cash flow
- $490/mo
- Cash-on-cash
- 4.9%
- Cap rate
- 7.5%
- DSCR
- 1.18×
Break-even
- Price that breaks even
- $617,043
- Rent that breaks even
- $4,680/mo
Long run
- Year 30: property vs stocks
- $3.07M vs $919K
- Cash flow turns positive
- year 1
The deal
- Price
- $525,000
- Cash to close
- $120,750
- Price per unit
- $175,000
- GRM
- 8.2
Each month
- Cash flow
- $39/mo
- Cash-on-cash
- 0.4%
- Cap rate
- 6.5%
- DSCR
- 1.01×
Break-even
- Price that breaks even
- $532,402
- Rent that breaks even
- $5,267/mo
Long run
- Year 30: property vs stocks
- $2.37M vs $919K
- Cash flow turns positive
- year 1
The deal
- Price
- $535,000
- Cash to close
- $149,800
- Price per unit
- $178,333
- GRM
- 8.4
Each month
- Cash flow
- $615/mo
- Cash-on-cash
- 4.9%
- Cap rate
- 7.4%
- DSCR
- 1.23×
Break-even
- Price that breaks even
- $658,179
- Rent that breaks even
- $4,516/mo
Long run
- Year 30: property vs stocks
- $3.23M vs $1.14M
- Cash flow turns positive
- year 1
The deal
- Price
- $535,000
- Cash to close
- $149,800
- Price per unit
- $178,333
- GRM
- 8.4
Each month
- Cash flow
- $164/mo
- Cash-on-cash
- 1.3%
- Cap rate
- 6.4%
- DSCR
- 1.06×
Break-even
- Price that breaks even
- $567,896
- Rent that breaks even
- $5,082/mo
Long run
- Year 30: property vs stocks
- $2.53M vs $1.14M
- Cash flow turns positive
- year 1
The deal
- Price
- $525,000
- Cash to close
- $147,000
- Price per unit
- $175,000
- GRM
- 8.2
Each month
- Cash flow
- $665/mo
- Cash-on-cash
- 5.4%
- Cap rate
- 7.5%
- DSCR
- 1.25×
Break-even
- Price that breaks even
- $658,179
- Rent that breaks even
- $4,451/mo
Long run
- Year 30: property vs stocks
- $3.27M vs $1.12M
- Cash flow turns positive
- year 1
The deal
- Price
- $525,000
- Cash to close
- $147,000
- Price per unit
- $175,000
- GRM
- 8.2
Each month
- Cash flow
- $214/mo
- Cash-on-cash
- 1.7%
- Cap rate
- 6.5%
- DSCR
- 1.08×
Break-even
- Price that breaks even
- $567,896
- Rent that breaks even
- $5,008/mo
Long run
- Year 30: property vs stocks
- $2.57M vs $1.12M
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Net operating income | $3,284 |
| Mortgage (principal + interest) | −$3,203 |
| PMI | −$301 |
| Cash flow | −$220 |
| Principal paid down (equity, not cash) | $408 |
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Property management | −$450 |
| Net operating income | $2,834 |
| Mortgage (principal + interest) | −$3,203 |
| PMI | −$301 |
| Cash flow | −$671 |
| Principal paid down (equity, not cash) | $408 |
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Net operating income | $3,284 |
| Mortgage (principal + interest) | −$3,144 |
| PMI | −$295 |
| Cash flow | −$155 |
| Principal paid down (equity, not cash) | $400 |
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Property management | −$450 |
| Net operating income | $2,834 |
| Mortgage (principal + interest) | −$3,144 |
| PMI | −$295 |
| Cash flow | −$605 |
| Principal paid down (equity, not cash) | $400 |
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Net operating income | $3,284 |
| Mortgage (principal + interest) | −$2,847 |
| Cash flow | $437 |
| Principal paid down (equity, not cash) | $362 |
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Property management | −$450 |
| Net operating income | $2,834 |
| Mortgage (principal + interest) | −$2,847 |
| Cash flow | −$14 |
| Principal paid down (equity, not cash) | $362 |
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Net operating income | $3,284 |
| Mortgage (principal + interest) | −$2,794 |
| Cash flow | $490 |
| Principal paid down (equity, not cash) | $356 |
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Property management | −$450 |
| Net operating income | $2,834 |
| Mortgage (principal + interest) | −$2,794 |
| Cash flow | $39 |
| Principal paid down (equity, not cash) | $356 |
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Net operating income | $3,284 |
| Mortgage (principal + interest) | −$2,670 |
| Cash flow | $615 |
| Principal paid down (equity, not cash) | $340 |
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Property management | −$450 |
| Net operating income | $2,834 |
| Mortgage (principal + interest) | −$2,670 |
| Cash flow | $164 |
| Principal paid down (equity, not cash) | $340 |
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Net operating income | $3,284 |
| Mortgage (principal + interest) | −$2,620 |
| Cash flow | $665 |
| Principal paid down (equity, not cash) | $333 |
| Rent | $5,325 |
| Vacancy (6%) | −$320 |
| Collected | $5,006 |
| Property tax Public record | −$139 |
| Insurance Estimate | −$309 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$479 |
| Capital reserve (9% of rent) | −$479 |
| Property management | −$450 |
| Net operating income | $2,834 |
| Mortgage (principal + interest) | −$2,620 |
| Cash flow | $214 |
| Principal paid down (equity, not cash) | $333 |
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
- Your equity when you sell
- $1,220,670
- Rental profits, invested at 7%
- $1,344,868
Sells for $1,298,585 (value up 3% a year), minus 6% selling cost ($77,915). Rent paid down $481,500 of loan.
$674,701 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $529,432
- Monthly shortfalls, invested
- $30,906
$69,550 put into an index fund instead of the down payment and closing costs.
$4,485 you'd have paid in while the building lost money, invested instead.
The building comes out $2,005,200 ahead after 30 years.
- Your equity when you sell
- $1,220,670
- Rental profits, invested at 7%
- $786,534
Sells for $1,298,585 (value up 3% a year), minus 6% selling cost ($77,915). Rent paid down $481,500 of loan.
$439,633 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $529,432
- Monthly shortfalls, invested
- $173,316
$69,550 put into an index fund instead of the down payment and closing costs.
$26,607 you'd have paid in while the building lost money, invested instead.
The building comes out $1,304,456 ahead after 30 years.
- Your equity when you sell
- $1,197,854
- Rental profits, invested at 7%
- $1,401,569
Sells for $1,274,313 (value up 3% a year), minus 6% selling cost ($76,459). Rent paid down $472,500 of loan.
$694,618 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $519,536
- Monthly shortfalls, invested
- $17,994
$68,250 put into an index fund instead of the down payment and closing costs.
$2,576 you'd have paid in while the building lost money, invested instead.
The building comes out $2,061,893 ahead after 30 years.
- Your equity when you sell
- $1,197,854
- Rental profits, invested at 7%
- $833,867
Sells for $1,274,313 (value up 3% a year), minus 6% selling cost ($76,459). Rent paid down $472,500 of loan.
$457,944 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $519,536
- Monthly shortfalls, invested
- $151,036
$68,250 put into an index fund instead of the down payment and closing costs.
$23,092 you'd have paid in while the building lost money, invested instead.
The building comes out $1,361,149 ahead after 30 years.
- Your equity when you sell
- $1,220,670
- Rental profits, invested at 7%
- $1,810,541
Sells for $1,298,585 (value up 3% a year), minus 6% selling cost ($77,915). Rent paid down $428,000 of loan.
$812,798 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $936,688
$123,050 put into an index fund instead of the down payment and closing costs.
The building comes out $2,094,523 ahead after 30 years.
- Your equity when you sell
- $1,220,670
- Rental profits, invested at 7%
- $1,110,977
Sells for $1,298,585 (value up 3% a year), minus 6% selling cost ($77,915). Rent paid down $428,000 of loan.
$555,774 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $936,688
- Monthly shortfalls, invested
- $1,180
$123,050 put into an index fund instead of the down payment and closing costs.
$166 you'd have paid in while the building lost money, invested instead.
The building comes out $1,393,780 ahead after 30 years.
- Your equity when you sell
- $1,197,854
- Rental profits, invested at 7%
- $1,870,872
Sells for $1,274,313 (value up 3% a year), minus 6% selling cost ($76,459). Rent paid down $420,000 of loan.
$831,959 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $919,180
$120,750 put into an index fund instead of the down payment and closing costs.
The building comes out $2,149,546 ahead after 30 years.
- Your equity when you sell
- $1,197,854
- Rental profits, invested at 7%
- $1,170,128
Sells for $1,274,313 (value up 3% a year), minus 6% selling cost ($76,459). Rent paid down $420,000 of loan.
$574,769 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $919,180
$120,750 put into an index fund instead of the down payment and closing costs.
The building comes out $1,448,802 ahead after 30 years.
- Your equity when you sell
- $1,220,670
- Rental profits, invested at 7%
- $2,012,273
Sells for $1,298,585 (value up 3% a year), minus 6% selling cost ($77,915). Rent paid down $401,250 of loan.
$876,867 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,140,316
$149,800 put into an index fund instead of the down payment and closing costs.
The building comes out $2,092,628 ahead after 30 years.
- Your equity when you sell
- $1,220,670
- Rental profits, invested at 7%
- $1,311,529
Sells for $1,298,585 (value up 3% a year), minus 6% selling cost ($77,915). Rent paid down $401,250 of loan.
$619,677 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,140,316
$149,800 put into an index fund instead of the down payment and closing costs.
The building comes out $1,391,884 ahead after 30 years.
- Your equity when you sell
- $1,197,854
- Rental profits, invested at 7%
- $2,068,834
Sells for $1,274,313 (value up 3% a year), minus 6% selling cost ($76,459). Rent paid down $393,750 of loan.
$894,830 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,119,001
$147,000 put into an index fund instead of the down payment and closing costs.
The building comes out $2,147,687 ahead after 30 years.
- Your equity when you sell
- $1,197,854
- Rental profits, invested at 7%
- $1,368,090
Sells for $1,274,313 (value up 3% a year), minus 6% selling cost ($76,459). Rent paid down $393,750 of loan.
$637,640 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,119,001
$147,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,446,943 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
Year 30 (loan paid off): property $2.57M, stocks $560K. The property wins.
Year 30 (loan paid off): property $2.01M, stocks $703K. The property wins.
Year 30 (loan paid off): property $2.60M, stocks $538K. The property wins.
Year 30 (loan paid off): property $2.03M, stocks $671K. The property wins.
Year 30 (loan paid off): property $3.03M, stocks $937K. The property wins.
Year 30 (loan paid off): property $2.33M, stocks $938K. The property wins.
Year 30 (loan paid off): property $3.07M, stocks $919K. The property wins.
Year 30 (loan paid off): property $2.37M, stocks $919K. The property wins.
Year 30 (loan paid off): property $3.23M, stocks $1.14M. The property wins.
Year 30 (loan paid off): property $2.53M, stocks $1.14M. The property wins.
Year 30 (loan paid off): property $3.27M, stocks $1.12M. The property wins.
Year 30 (loan paid off): property $2.57M, stocks $1.12M. The property wins.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.
3 bed / 1.5 bath estimate $1,775/mo · range $1,500–$2,050
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 914 Burr Unit-3 Bedroom St N, Apt 1, Saint Paul 55130 off market | $1,400 | 3 / 2 | 0.4 mi | 91% |
| 865 Clark St N, Saint Paul 55130 off market | $1,950 | 3 / 2 | 0.6 mi | 91% |
| 1051 Arkwright St, Saint Paul 55130 off market | $1,795 | 3 / 1 | 0.4 mi | 84% |
| 1199 Burr St, Saint Paul 55130 off market | $1,320 | 3 / 1 | 0.2 mi | 83% |
| 685 Magnolia Ave E, Saint Paul 55106 off market | $1,600 | 3 / 1 | 0.2 mi | 83% |
| 586 Reaney Ave E, Unit 586U2, Saint Paul 55130 | $1,614 | 3 / 1 | 0.8 mi | 82% |
| 691 Bedford St, Unit A, Saint Paul 55130 | $2,052 | 3 / 1 | 0.9 mi | 82% |
| 868-870 Westminster St, Saint Paul 55130 off market | $1,295 | 3 / 1 | 0.7 mi | 82% |
| 701 Hawthorne Ave E, Saint Paul 55106 off market | $1,390 | 2 / 1 | 0.4 mi | 82% |
| 1337 Arkwright St N, Unit 106, Saint Paul 55130 off market | $1,150 | 2 / 1 | 0.6 mi | 81% |
On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. Rents are asking rents from listings; check them against the actual leases.
Red flags and opportunities
Watch for
- highUnit count conflict: listing says four units, county says three Based on: data: county.living_units · AI review
- highRental license is pending and shows an expired date, so legal status of the units is unclear Based on: data: city.rental_license · AI review
- mediumBought for $400,000 in Feb 2025; asking is 34% more 19 months later. Ask what was done to justify the jump. Public record: Ramsey County parcel 292922210088: last sale 2025-02-27, $400,000
- mediumTwo of the tenants are leaving, so there's turnover and vacancy right away, and the rent roll is thin Listing says: the top-floor tenant relocates mid-September and the 3BR/2BA tenant has expressed the same · AI review
- mediumTaxes of $1,669 look low for a $535K investor property and may reset after sale Based on: data: county.tax · AI review
- low$649 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 292922210088: special assessments (payable 2026) = $648.76
- lowAncillary laundry income is tiny and not worth underwriting Listing says: returns a monthly check averaging $20-$50 in ancillary income · AI review
Opportunities
- Owner-occupy one unit while the others pay, since two tenants are leaving Listing says: Ideal house hack - the top-floor tenant relocates mid-September · AI review
- Recent big-ticket work lowers near-term capex if permitted and documented Listing says: new siding and new roof in 2025, newer windows, new water heaters and boiler · AI review
- Re-leasing vacated units at market rents without the 3% cap on sitting tenants Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- Is this three or four units? Can you show the city rental license and the certificate of occupancy for each?
- Can I see the rent roll, lease dates and deposits for each unit, plus 12 months of expenses?
- What did the seller pay for the 2025 siding, roof and boiler work, and were permits pulled?
- Who pays heat and water, and how many meters and boilers are there?
- What are the $649 special assessments for, and does the seller pay them at closing?
- Why did the price jump from $400K to $535K in 19 months?
Bottom line
Updated and house-hack friendly, but the 3-vs-4 unit conflict and a 34% jump over last year's price need real answers before this pencils. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $1,669 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $3,705 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $255 |
| 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 1906: +1 pt capital reserve; 9 bedrooms: +1 pt repairs for wear | 9% / 9% |
Price history Realtor.com
On the market since 2026-09-05 (30 days); last sold for $400,000 on 2025-02-27.
| Date | Event | Price |
|---|---|---|
| Listed | $535,000 | |
| Listed | $400,000 | |
| Sold public record | $400,000 | |
| Sold | $123,750 | |
| Price changed | $137,500 | |
| Price changed | $147,500 | |
| Price changed | $154,900 | |
| Price changed | $169,900 | |
| Price changed | $179,900 | |
| Price changed | $187,500 | |
| Price changed | $194,900 | |
| Price changed | $224,900 | |
| Relisted | $258,000 | |
| Removed | $272,000 | |
| Listed | $272,000 | |
| Sold public record | $100,000 |
County record Public record
| Recorded as | three family dwelling, platted lot |
| Living units | 3 |
| Year built | 1906 |
| Market value (2026) | $387,600 |
| Property tax, payable 2026 | $1,669 |
| Special assessments | $649 |
| Homestead | no |
| Last sale | 2025-02-27 · $400,000 |
Source: Ramsey County parcel records.
City rental certificate (CofO)
Residential 3+ Units: 4 unit(s), A, status pending, renews 2026-03-11.
Nearest highway
I 35E;US 10, about 948 m away.
Crime in Payne – Phalen
1,695 incidents in the last 12 months (51 per 1,000 residents), −10% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.