1259 Charles Ave

Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath unit split estimated · 3,150 sq ft

Saint Paul, MN · Hamline – Midway · View the listing ↗

16 photos

Photos, via Realtor.com.

Asking price: $381,425
Monthly cash flow: −$374
Estimated rent: $3,400/mo
Break-even price: $311,126

Adjust the numbers See the full breakdown

From the listing

Spacious up-and-down duplex located in a strong St Paul rental neighborhood near shopping, restaurants, and public transportation. Both units feature large multi-level layouts uncommon for traditional duplexes, offering strong long-term tenant appeal and functional living space. The lower unit includes basement and main-level living space, while the upper unit spans the second and third floors. Utilities are currently partially owner-paid, with ownership implementing a RUBS utility reimbursement program across the portfolio beginning Q3 2026. Future ownership will have the opportunity to improve NOI through utility cost recovery and operational efficiencies. Excellent opportunity for investors seeking stable residential property with long-term upside potential.

Description from Realtor.com, MLS #7074984. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a big up/down in Hamline-Midway at $381K, and at that price it doesn't work. Our underwriting shows about -$355/month cash flow and a 5.3% cap rate, with a break-even price near $315K, so the ask is roughly $67K too high. The listing gives no rents, no lease terms and no expense detail, and the only income story is a RUBS program that doesn't exist yet. It has sat 143 days, which gives you room to push on price. Ask for the rent roll, trailing-12 expenses and the special assessment details before a showing, and only go see it if the seller will move toward the break-even number.

Things to consider

Price is well above what the rents support Our numbers show negative monthly cash flow at the asking price and a break-even near $315K. You would be funding the property every month.
The only upside is a utility program that doesn't exist yet RUBS is a projection, not income. In St. Paul, billing back utilities on existing leases may count toward the 3% rent cap.Listing says: “ownership implementing a RUBS utility reimbursement program across the portfolio beginning Q3 2026”
Rents are unknown, and a 3% cap limits increases for sitting tenants If current rents sit below our estimates, closing the gap will be slow. Ask for the rent roll before you value this.
Taxes and assessments eat into income Investors pay the non-homestead rate, and the special assessments add a cost that may continue or may be payable at closing.
Units appear dated, so budget for turnover work Worn carpet, an older kitchen and a basic bath mean you should reserve for updates before pushing rents.From photo 6
Rental license status needs confirming The license on record expired in 2023. Operating without a valid license can limit rent collection and cause compliance problems.

From the photos

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

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: $381,425
Cash to close: $87,728
Price per unit: $190,712
GRM: 9.3

Each month

Cash flow: −$374/mo
Cash-on-cash: −5.1%
Cap rate: 5.2%
DSCR: 0.82×

Break-even

Price that breaks even: $311,126
Rent that breaks even: $3,886/mo

Long run

Year 30: property vs stocks: $1.18M vs $791K
Cash flow turns positive: year 9

Monthly

Monthly breakdown

Rent	$3,400
Vacancy (6%)	−$204
Collected	$3,196
Property tax Public record	−$495
Insurance Estimate	−$237
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$272
Capital reserve (9% of rent)	−$306
Net operating income	$1,656
Mortgage (principal + interest)	−$2,030
Cash flow	−$374
Principal paid down (equity, not cash)	$258

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$1,179,439

Your equity when you sell: $870,270
Rental profits, invested at 7%: $309,170

Same money in stocks$790,941

Cash to close, invested at 7%: $667,806
Monthly shortfalls, invested: $123,135

The building comes out $388,498 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 $1.18M, stocks $791K. The property wins.

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.

3 bed estimate $1,775/mo · range $1,700–$2,150 · 7 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1477 Iglehart Ave, Saint Paul	$1,700	3 / 1	—	0.7 mi	2026-07-20	Apartment
435 Fry St Apt 3, Saint Paul	$1,650	3 / 1	1,010	0.8 mi	2026-07-17	Apartment
989 Dayton Ave, Saint Paul	$2,050	3 / 1	2,000	0.9 mi	—	Apartment
987 Dayton Ave, Saint Paul	$2,050	3 / 1	2,000	0.9 mi	2026-08-26	Apartment
824 Aldine St, Saint Paul	$1,800	3 / 1	—	1.1 mi	2026-09-26	Apartment
865/867 Hague Ave, Saint Paul	$1,625	3 / 1	1,300	1.1 mi	2026-06-16	Apartment
555-565 N Kent St, Saint Paul	$1,435	3 / 1	875	1.4 mi	2026-04-29	Apartment

2 bed estimate $1,625/mo · range $1,175–$2,400 · 8 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1305 University Ave W, Saint Paul	$1,060	2 / 2	—	0.1 mi	2026-07-17	Apartment
411 Lexington Pkwy N, Saint Paul	$2,175	2 / 2	873	0.4 mi	2026-07-31	Apartment
1270 Seminary Ave, Saint Paul	$1,500	2 / 1	—	0.5 mi	2026-09-26	Apartment
1010 Lafond Ave Apt 1, Saint Paul	$1,225	2 / 1	750	0.5 mi	2024-07-01	Apartment
613 Snelling Ave N, Saint Paul	$1,600	2 / 1	—	0.7 mi	2026-04-14	Apartment
455 Snelling Ave N, Saint Paul	$2,398	2 / 2	991	0.7 mi	2025-03-22	Apartment
1530 Concordia Ave, Saint Paul	$1,099	2 / 1	509	0.7 mi	2026-09-10	Apartment
427 Snelling Ave N, Saint Paul	$2,308	2 / 2	925	0.8 mi	2026-02-03	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, lease terms or expense figures given. The listing leans on a projected utility program. Listing says: Utilities are currently partially owner-paid · AI review
highAsking price is far above the county market value, and well above our break-even price. Based on: data: county.market_value · AI review
medium$1,244 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 342923130051: special assessments (payable 2026) = $1,243.54
mediumProjected utility bill-backs (RUBS) are not income yet, and in St. Paul they may count toward the 3% cap. Listing says: "are currently partially owner-paid, with ownership implementing a RUBS utility reimbursement program across the portfolio beginning Q3"
mediumRental license shows Renewal Due and expired in 2023. Confirm the license is current and the unit count is legal. Based on: data: city.rental_license · AI review
mediumNon-homestead tax bill is near $5,900 a year, which is a heavy load against these rents. Based on: data: county.tax · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 143 days on market
Long time on market gives room to negotiate toward the break-even price. Based on: data: listing.days_on_market · AI review
Large multi-level units may appeal to long-term tenants, and rents could rise once actual rents are known and the 3% cap is checked. Listing says: Both units feature large multi-level layouts uncommon for traditional duplexes · AI review
Interiors look dated but clean, so a light refresh could support rents. Based on: photo 6 · AI review

Questions for the agent

What are the current rents, lease end dates and security deposits for each unit?
What are the trailing-12 months of expenses, and which utilities does the owner pay each month?
What are the $1,244 in special assessments for, and will the seller pay them at closing?
Is the rental license current, and when was the last city inspection?
How old are the roof, boiler and electrical panel, and is there one heating system or two?
Why has it sat 143 days, and has the price moved or any offers fallen through?

Bottom line

Big, usable duplex, but at $381K it loses money every month; it only works near $315K or below. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)	$5,938
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,846
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 1912: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-05-15 (143 days); down $65,075 (14.6%) from the first ask of $446,500; last sold for $64,400 on 1997-05-08.

Date	Event	Price
2026-08-11	Price changed	$381,425
2026-06-26	Price changed	$401,500
2026-06-25	Relisted	$446,500
2026-06-24	Removed	—
2026-05-15	Listed	$446,500
1997-05-08	Sold public record	$64,400

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1912
Market value (2026)	$272,800
Property tax, payable 2026	$5,938
Special assessments	$1,244
Homestead	no
Last sale	—

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), B, status renewal due, renews 2023-10-01.

Nearest highway

I 94, about 656 m away.

Crime in Hamline – Midway

1,219 incidents in the last 12 months (101 per 1,000 residents), −3% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.