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132 York Ave E

Duplex · 2 units: 3 bed / 2 bath ×2 unit split estimated · 3,100 sq ft

Saint Paul, MN · North End (South Como) · View the listing ↗

Far off
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Photos courtesy of Real Estate Parkway, via Realtor.com.

Asking price
$499,900
2 units · $250K per unit
Monthly cash flow
−$1,133
at 20% down, 7%
Estimated rent
$3,650/mo
medium confidence
Break-even price
$287,011
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

Brand-new up/down duplex with two 3-bed/2-bath units and separate utilities, which keeps owner expenses low and makes the building simple to run. The price is the problem. At $499,900 our underwriting shows about -$1,133 a month and a 3.7% cap rate, and cash flow only breaks even near $287K. Rents are estimated at about $1,825 per unit with no actual leases stated, so there is no income to check yet. It has sat 136 days, so there is room to negotiate, but even a big cut leaves a gap. Check the tax bill (no parcel match yet), the rental license and CofO, and the builder's warranty before a showing. Only worth seeing if the seller will come down hard or you plan to live in one unit.

Things to consider

  1. Price is far above what the rents support Asking is about $213K over the break-even price. Rents of roughly $3,650 combined can't carry a $500K purchase at today's rates.
  2. Property taxes are unverified A new building usually brings a much higher assessment, and investors pay the non-homestead rate. That could widen the monthly loss.
  3. Separate utilities help expenses With tenants paying their own utilities and everything new, repairs and reserves should be low in the first years.Listing says: “separate utilities, including full HVAC, central A/C, gas, electric, and water heaters in each unit”
  4. Rent control status needs confirming A post-2004 build is likely exempt, which allows rent growth, but the CofO date decides it.
  5. Owner-occupancy could change the math The listing pitches an owner-occupant angle. Living in one unit lowers the effective cost and may allow lower-down-payment financing, though you should check loan terms yourself.Listing says: “Excellent owner-occupant or investment opportunity”
  6. Negotiation room from time on market 136 days listed suggests the price isn't being met by buyers. A large cut is needed for this to work as an investment.

From the photos

Listing photo 1
1 of 8Plus

Exterior appears new: vinyl siding, fresh shingles and a covered entry with two separate front doors, which fits the two-unit layout.

Listing photo 5
2 of 8Plus

Kitchen has stainless appliances, oak cabinets, laminate counters and LVP flooring. It appears new but builder-grade, not high-end.

Listing photo 8
3 of 8Check

Bathroom has a new tub surround, vanity and fixtures. The same bathroom image appears twice, so only one bath is actually shown.

Listing photo 9
4 of 8Check

Utility closet shows an electric water heater, a panel, ductwork and what appears to be a Solace-branded unit, possibly solar or battery related. Ask what it is and whether it's owned.

Listing photo 10
5 of 8Plus

Rear shows an electric meter bank and two A/C condensers, consistent with separate metering and cooling for each unit.

Listing photo 10
6 of 8Concern

Yard is bare, raked dirt with no grass or landscaping. Drainage and erosion can't be judged from photos.

Listing photo 2
7 of 8Check

Living room photos appear virtually staged, with furniture that may not be real. Photos 2 and 3 show the same open layout with and without furnishings.

Listing photo 1
8 of 8Check

No photos of the second unit, bedrooms, laundry areas or any garage or parking. Only one unit's finishes are shown.

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

Condition and repairs

  • doneNew construction, 2026 build, with new HVAC, central A/C and water heaters in each unitListing says: 2026 NEW CONSTRUCTION!
  • doneNew stone retention system and ground cover installed; lawn not yet establishedListing says: newly installed stone retention system and fresh ground cover for future lush lawn growth

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

Down payment %
Offer $
Management
Interest rate %
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
$499,900
Cash to close
$114,977
Price per unit
$249,950
GRM
11.4

Each month

Cash flow
−$1,133/mo
Cash-on-cash
−11.8%
Cap rate
3.7%
DSCR
0.57×

Break-even

Price that breaks even
$287,011
Rent that breaks even
$5,103/mo

Long run

Year 30: property vs stocks
$1.17M vs $1.66M
Cash flow turns positive
year 24

Monthly

Monthly breakdown

Rent$3,650
Vacancy (6%)−$219
Collected$3,431
Property tax Estimate−$875
Insurance Estimate−$215
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$292
Capital reserve (8% of rent)−$292
Net operating income$1,528
Mortgage (principal + interest)−$2,661
Cash flow−$1,133
Principal paid down (equity, not cash)$339

Cash flow each year

Rents +3%/yr, 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$1,165,096
Your equity when you sell
$1,140,586

Sells for $1,213,389 (value up 3% a year), minus 6% selling cost ($72,803). Rent paid down $399,920 of loan.

Rental profits, invested at 7%
$24,511

$21,421 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$1,661,039
Cash to close, invested at 7%
$875,234

$114,977 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$785,805

$171,235 you'd have paid in while the building lost money, invested instead.

Stocks come out $495,943 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

This propertyStocks at 7%

Year 30 (loan paid off): property $1.17M, stocks $1.66M. Stocks win.

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 / 2 bath estimate $1,825/mo · range $1,675–$2,000

AddressRentBd / BaSq ftDistanceListedMatch
865 Clark St N, Saint Paul 55130 off market $1,950 3 / 2 — 0.6 mi 2026-07-03 93%
914 Burr Unit-3 Bedroom St N, Apt 1, Saint Paul 55130 off market $1,400 3 / 2 — 0.7 mi 2023-05-09 93%
610 N Capitol Blvd, Unit 3, Saint Paul 55103 $1,650 3 / 1.5 1,600 0.7 mi 2026-10-05 85%
610 N Capitol Blvd, Saint Paul 55103 off market $1,750 3 / 1.5 1,600 0.7 mi 2026-08-10 85%
505-507 N Farrington St, Saint Paul 55103 off market $1,836 4 / 2 2,600 1.2 mi 2026-08-05 85%
653 Galtier St, Saint Paul 55103 $1,750 3 / 1.5 1,520 0.9 mi 2025-08-06 84%
842 Rice St, Apt 203, Saint Paul 55117 off market $1,795 2 / 2 — 0.5 mi 2023-10-30 84%
690 Virginia St, Saint Paul 55103 $1,500 3 / 1 1,620 1.0 mi 2023-03-24 82%
690 Virginia Ave, Saint Paul 55103 off market $1,500 3 / 1 1,620 1.0 mi 2023-03-24 82%
595 Park St, Saint Paul 55103 off market $1,799 3 / 1 1,325 0.7 mi 2026-04-20 80%

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

  • highTaxes are unknown for a brand-new building. The new assessment and non-homestead rate could be much higher than the land-only bill. Based on: data: county.tax · AI review
  • mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 132 YORK AVE E
  • mediumAsking is $212,889 above the price where cash flow breaks even ($287,011) at the default scenario. Based on: Derived: price $499,900 vs. break-even $287,011
  • mediumNo rents, leases or rental history. Income is entirely our estimate. Listing says: Turnkey property with strong rental potential in the heart of St Paul! · AI review
  • lowRetention and grading work is fresh and the yard is bare dirt. Drainage and erosion need watching through a first season. Based on: photo 10 · AI review

Opportunities

  • Long time on market: room to negotiate. Based on: Listing data: 136 days on market
  • Separate utilities in each unit means tenants pay their own bills, so owner costs stay low. Listing says: separate utilities, including full HVAC, central A/C, gas, electric, and water heaters in each unit · AI review
  • Likely exempt from St. Paul rent control as a post-2004 build, so rents can rise with the market (confirm CofO date). Based on: data: underwriting.rent_rule · AI review
  • 136 days on market suggests the seller may negotiate. Based on: data: listing.days_on_market · AI review

Questions for the agent

  • What are the projected property taxes, and has the new construction been assessed yet?
  • Who is the builder, and is there a warranty on structure, roof and mechanicals?
  • Has the city issued a certificate of occupancy and rental license, and for how many units?
  • Why has it been on the market 136 days, and have there been price changes or offers?
  • Are there separate meters for each unit, and is there any shared space like the yard or basement?
  • Is there off-street parking or a garage?

Bottom line

Clean new duplex with low upkeep, but at $499,900 it loses about $1,133 a month, so it only works at a much lower price or as an owner-occupant buy. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Estimateestimate. No tax record found; 2.1% of price.$10,498
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,575
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. base rate8% / 8%

Price history Realtor.com

On the market since 2026-05-22 (136 days).

DateEventPrice
Relisted$499,900
Removed—
Listed$499,900

From the listing Listing

Listed asduplex up and down
Property tax, 2026$1,632
CountyRamsey
Parcel number302922420121

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

City rental certificate (CofO)

No record in St. Paul Certificate of Occupancy – Residential (dataset last updated mid-2025).

Nearest highway

I 35E;US 10, about 446 m away.

Crime in North End

1,359 incidents in the last 12 months (57 per 1,000 residents), +5% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.