Cash flows22 days on market
1156 Galtier St, Saint Paul
Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath unit split estimated · 1,519 sq ft · North End · View the listing ↗
Photos, via Realtor.com.
+$144 monthly cash flow
After every cost, including reserves for vacancy and repairs, this duplex puts about $144 a month in your pocket. That’s a 2.6% yearly return on the $66,677 you’d put in.
At $289,900, 20% down, 7.00% for 30 years, self-managed.
- Cash-on-cash return
- 2.6% Yearly cash flow ÷ cash in
- Cap rate
- 7.0% Return if you paid all cash
- Cash to close
- $66,677 Down payment + closing costs
- Break-even price
- $316,891 Most you can pay and still cash flow
Boardwalk’s take
AI-assisted · checked against public recordsA freshly cosmetically updated duplex on a big lot, but the price is up 71% in 18 months and the numbers are only modestly positive, so verify rents, permits and licensing before offering.
This is a 1894 up/down on a double lot in St. Paul's North End, asking $289,900 after the seller paid $170,000 in April 2025. The description gives no rents, no lease status, no utility split and no roof age beyond "new roof". Our model shows about $144/month cash flow at asking with a 7.0% cap, and break-even price is above ask at around $317K, so it's modestly positive but depends on our rent estimates holding. The photos show a fresh cosmetic refresh (flooring, white cabinets, new bath surround), which may explain part of the jump, but they skip the basement, mechanicals and exterior roof detail. Check the rental license, the $503 in assessments and the actual rents first. Worth a showing only if the permits and rent roll back up the price.
Things to consider
- Price jump from the last sale Asking is far above the $170,000 paid in April 2025, so the buyer needs proof the work justifies it. Cosmetic updates don't fix old systems.
- Modest cash flow at asking Our model gives about $144/month at ask with a break-even price above ask, so there is some room for repairs, vacancy or higher rates, but not much. Actual rents decide this.
- Rent cap on sitting tenants St. Paul caps rent growth at 3% a year for existing tenants. If current rents are below market you can't catch up quickly.
- Rental license and assessments No rental certificate is on file, and the $503 assessment adds to carrying costs. Licensing may require inspection and repairs.
- Old building, unseen systems The finishes are new, but the mechanicals and wiring in an 1894 build are unknown. Budget for an inspection before you rely on the roof claim.Listing says: “features tons of updates, including new roof, huge double lot”
- Parking and lot are a real plus A double lot with a 2-car garage supports tenant demand and gives long-term flexibility.Listing says: “huge double lot, 2 cars detach garage, and a shed for extra storage”
The listing, and how its numbers compare
MLS #7158304What the seller says
A must-see duplex! Perfer for owner-occupant or investor. This spacious duplex features tons of updates, including new roof, huge double lot, 2 cars detach garage, and a shed for extra storage. Conveniently located near shopping, restaurants, transit, and everything St. Paul has to offer.
The seller’s numbers vs. ours (yearly)
| Line | Seller | Boardwalk |
|---|---|---|
| Property tax | $3,750 (2026) | — |
| Water and sewer | $600 | — |
| Trash | $960 | — |
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
- 1894
- Living area
- 1,519 sq ft
- Exterior
- Shakes, Wood
- Roof
- Architectural Shingle
- Basement
- Full
- Laundry
- In Basement
Systems and utilities
- Heating
- Forced Air · Natural Gas
- Water / sewer
- City Water · City Sewer
- Owner pays
- All Utilities
Parking and lot
- Garage
- 2 spaces
- Parking
- Detached Garage, Driveway - Asphalt
- Lot
- 0.25 acres · 136x80
- Outdoor
- Porch · Chain Link
- 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 | $3,100 |
| Vacancy | −$186 |
| Property tax | −$271 |
| Insurance | −$200 |
| Water, sewer, trash | −$170 |
| Repairs and capital reserve | −$527 |
| Net operating income | $1,687 |
| Mortgage (principal + interest) | −$1,543 |
| Cash flow | $144 |
Detailed assumptions
30 years: this building vs. the same money in stocks
The building comes out $964K aheadYear 30 (loan paid off): this building $1,471,492, the same money in stocks $507,562.
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 $1,500–$1,800 · 6 rentals within 1.5 mi · low confidence
Median asking rent of nearby rentals with the same bedroom count (within 1.5 miles): 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. Adjustments: $25/unit (garage mentioned in the description). Rent rules: Capped at 3%/yr for sitting tenants.
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 948 Albemarle St Apt 1, Saint Paul | $1,632asked $1,600 | 3 / 1 | 0.5 mi |
| 690 Virginia St, Saint Paul | $1,500 | 3 / 1 | 1.0 mi |
| 653 Galtier St, Saint Paul | $1,750 | 3 / 1.5 | 1.0 mi |
| 610 N Capitol Blvd Unit 3, Saint Paul | $1,595 | 3 / 1 | 1.2 mi |
| 764 Capitol Hts Unit 2, Saint Paul | $1,800 | 3 / 1 | 1.3 mi |
| 555-565 N Kent St, Saint Paul | $1,395 | 3 / 1 | 1.4 mi |
Asking rents from Realtor.com listings, not signed leases.
2 bed: $1,450/mo · range $1,325–$1,650 · 12 rentals within 1 mi · low confidence
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 390 Cottage Ave W, Saint Paul | $1,280 | 2 / 1 | 0.5 mi |
| 483 Lawson Ave W Unit 2, Saint Paul | $1,140 | 2 / 1 | 0.6 mi |
| 483 Lawson Ave W Unit 1, Saint Paul | $1,495 | 2 / 1 | 0.6 mi |
| 842 Rice St Apt 301, Saint Paul | $1,754asked $1,695 | 2 / 1 | 0.7 mi |
| 842 Rice St Apt 303, Saint Paul | $1,705asked $1,695 | 2 / 1 | 0.7 mi |
| 1512 Woodbridge St, Saint Paul | $1,344 | 2 / 1 | 0.8 mi |
| 1533 Woodbridge St, Saint Paul | $1,025 | 2 / 1 | 0.8 mi |
| 1571 N Woodbridge St, Saint Paul | $1,475 | 2 / 1 | 0.9 mi |
| 1570 Marion St, Saint Paul | $1,628 | 2 / 1 | 0.9 mi |
| 1583 Marion St, Saint Paul | $1,607asked $1,600 | 2 / 1 | 0.9 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
Done New roof
None of the work the listing describes appears in city permit records from the last two years. Ask whether it was permitted and inspected.
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
- checkNo rental certificate (CofO) on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: St. Paul Certificate of Occupancy – Residential: no record for 1156 GALTIER ST (dataset last updated mid-2025)
- checkBought for $170,000 in Apr 2025; asking is 71% more 19 months later. Ask what was done to justify the jump. Public record: Ramsey County parcel 252923110076: last sale 2025-04-04, $170,000
- checkDescription is vague on what the "tons of updates" are, with no dates, permits or rents given. Listing says: This spacious duplex features tons of updates, including new roof · AI review
- checkBuilt in 1894, so the wiring, plumbing and foundation are likely old and unverified despite the cosmetic refresh. Based on: data: listing.year_built · AI review
- minor$503 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 252923110076: special assessments (payable 2026) = $503.26
Opportunities
- Double lot with a 2-car detached garage and a shed gives off-street parking and storage that many North End duplexes lack. Listing says: huge double lot, 2 cars detach garage, and a shed for extra storage · AI review
- Owner-occupant angle: living in one unit may help with financing and lower the effective housing cost. Listing says: Perfer for owner-occupant or investor. · AI review
Questions for the agent
- What are the current rents, lease terms and security deposits for each unit, and are the tenants month-to-month?
- What did the seller do since buying in April 2025, and were permits pulled for the work and the roof?
- Is the building licensed as a rental in St. Paul, and when was the last inspection?
- What are the $503 in special assessments for, and will they be paid at closing?
- How is heat metered (one boiler or furnace per unit?), and who pays gas, electric and water?
- How old are the furnace, water heater and electrical panel?
What the records say
Price history · Realtor.com
On the market since 2026-10-11 (22 days); last sold for $170,000 on 2025-04-10.
| Date | Event | Price |
|---|---|---|
| Listed | $289,900 | |
| Sold public record | $170,000 | |
| Sold public record | $120,000 | |
| Sold public record | $120,000 | |
| Sold | $45,000 | |
| Listed | $39,900 | |
| Sold public record | $197,900 |
Permit history · City records
- Electrical · SAVER SWITCH **You may also schedule an inspection for this type of work during the hours of 7:30AM - 4:30 PM by contacting our Call Center at 651-266-8989.** **You may also schedule an inspection for this type of · $100 · Finaled
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 | 1894 |
| Market value (2026) | $211,700 |
| Property tax, payable 2026 | $3,247 |
| Special assessments | $503 |
| Homestead | No |
| Last sale | 2025-04-04 · $170,000 |
| City rental certificate (cofo) | None on file |
| Nearest highway | I-35E;US-10, about 1.7 km |
Crime in North End
1,333 incidents in the last 12 months (56 per 1,000 residents; about the city rate), −1% 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.