1432 Goodrich Ave
Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 3,044 sq ft
Saint Paul, MN · Macalester – Groveland · View the listing ↗
Photos courtesy of NRT-Minnesota (CB Burnet), via Realtor.com.
- Asking price
- $595,000 2 units · $298K per unit
- Monthly cash flow
- −$1,674 at 20% down, 7%
- Estimated rent
- $3,650/mo medium confidence
- Break-even price
- $280,504 where cash flow hits $0
First look
This is a nice-looking, well-kept 1921 up/down in Mac-Groveland, but it doesn't work as a rental at $595K. Our underwriting shows about -$1,674 a month and a 3.0% cap rate, and the break-even price is around $281K. Rents of $2,000 on the lower unit and $2K+ hoped for upstairs sit near the top of our $1,375 to $2,450 range, and the 3% St. Paul cap limits increases on sitting tenants. This only pencils as an owner-occupant buy where you live upstairs and the lower rent offsets part of the cost. Check the 2025 boiler work, the garage, the pending rental license, and why the price jumped 19% since the 2024 sale before booking a showing.
Things to consider
- Price is far above what rents support At $595K the deal loses money every month and the break-even price is around $281K. The numbers only work if you live in a unit and accept a lower return.
- Rent growth is capped for the sitting tenant Under St. Paul's 3% cap, the $2,000 lower rent can't be raised quickly, so the upside there is slow.
- Sharp price jump since the last sale A 19% increase in 26 months needs a reason such as real renovation. The listed updates are mostly cosmetic or maintenance items.
- Recent boilers reduce a major risk Heat is a big expense in older buildings, so new boilers mean less capex early. Confirm permits and whether each unit has its own.Listing says: “two new boilers in 2025”
- Upper unit income is unproven The $2K+ figure is a hope, and our estimate midpoint is $1,825. Underwrite to the lower number.Listing says: “rent potential of $2K+”
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Rents the listing states
- Lower: $2,000 (lease)Listing says: Lower unit is leased at $2,000/month through August 2027
Condition and repairs
- doneTwo new boilersListing says: two new boilers in 2025
- doneNew garage doors and openersListing says: new garage doors/openers in 2026
- doneUpdated kitchen sinks, cabinetry, countertops, dishwashersListing says: Updated kitchens feature new sinks & sink cabinetry & countertops and newer compact dishwashers
- doneFresh carpet in common areas, painted deck, exterior doors and window trimListing says: Fresh carpeting in common areas and stairways plus recently painted deck, all exterior doors and window trim
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
- $595,000
- Cash to close
- $77,350
- Price per unit
- $297,500
- GRM
- 13.6
Each month
- Cash flow
- −$2,404/mo
- Cash-on-cash
- −37.3%
- Cap rate
- 3.0%
- DSCR
- 0.38×
Break-even
- Price that breaks even
- $227,925
- Rent that breaks even
- $6,733/mo
Long run
- Year 30: property vs stocks
- $1.36M vs $2.53M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $595,000
- Cash to close
- $77,350
- Price per unit
- $297,500
- GRM
- 13.6
Each month
- Cash flow
- −$2,713/mo
- Cash-on-cash
- −42.1%
- Cap rate
- 2.4%
- DSCR
- 0.30×
Break-even
- Price that breaks even
- $180,783
- Rent that breaks even
- $7,552/mo
Long run
- Year 30: property vs stocks
- $1.36M vs $3.01M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $585,000
- Cash to close
- $76,050
- Price per unit
- $292,500
- GRM
- 13.4
Each month
- Cash flow
- −$2,339/mo
- Cash-on-cash
- −36.9%
- Cap rate
- 3.1%
- DSCR
- 0.39×
Break-even
- Price that breaks even
- $227,925
- Rent that breaks even
- $6,649/mo
Long run
- Year 30: property vs stocks
- $1.33M vs $2.45M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $585,000
- Cash to close
- $76,050
- Price per unit
- $292,500
- GRM
- 13.4
Each month
- Cash flow
- −$2,648/mo
- Cash-on-cash
- −41.8%
- Cap rate
- 2.4%
- DSCR
- 0.31×
Break-even
- Price that breaks even
- $180,783
- Rent that breaks even
- $7,457/mo
Long run
- Year 30: property vs stocks
- $1.33M vs $2.93M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $595,000
- Cash to close
- $136,850
- Price per unit
- $297,500
- GRM
- 13.6
Each month
- Cash flow
- −$1,674/mo
- Cash-on-cash
- −14.7%
- Cap rate
- 3.0%
- DSCR
- 0.47×
Break-even
- Price that breaks even
- $280,504
- Rent that breaks even
- $5,796/mo
Long run
- Year 30: property vs stocks
- $1.36M vs $2.43M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $595,000
- Cash to close
- $136,850
- Price per unit
- $297,500
- GRM
- 13.6
Each month
- Cash flow
- −$1,983/mo
- Cash-on-cash
- −17.4%
- Cap rate
- 2.4%
- DSCR
- 0.37×
Break-even
- Price that breaks even
- $222,487
- Rent that breaks even
- $6,501/mo
Long run
- Year 30: property vs stocks
- $1.36M vs $2.91M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $585,000
- Cash to close
- $134,550
- Price per unit
- $292,500
- GRM
- 13.4
Each month
- Cash flow
- −$1,621/mo
- Cash-on-cash
- −14.5%
- Cap rate
- 3.1%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $280,504
- Rent that breaks even
- $5,728/mo
Long run
- Year 30: property vs stocks
- $1.33M vs $2.36M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $585,000
- Cash to close
- $134,550
- Price per unit
- $292,500
- GRM
- 13.4
Each month
- Cash flow
- −$1,929/mo
- Cash-on-cash
- −17.2%
- Cap rate
- 2.4%
- DSCR
- 0.38×
Break-even
- Price that breaks even
- $222,487
- Rent that breaks even
- $6,425/mo
Long run
- Year 30: property vs stocks
- $1.33M vs $2.84M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $595,000
- Cash to close
- $166,600
- Price per unit
- $297,500
- GRM
- 13.6
Each month
- Cash flow
- −$1,476/mo
- Cash-on-cash
- −10.6%
- Cap rate
- 3.0%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $299,204
- Rent that breaks even
- $5,542/mo
Long run
- Year 30: property vs stocks
- $1.36M vs $2.44M
- Cash flow turns positive
- year 30
The deal
- Price
- $595,000
- Cash to close
- $166,600
- Price per unit
- $297,500
- GRM
- 13.6
Each month
- Cash flow
- −$1,785/mo
- Cash-on-cash
- −12.9%
- Cap rate
- 2.4%
- DSCR
- 0.40×
Break-even
- Price that breaks even
- $237,319
- Rent that breaks even
- $6,216/mo
Long run
- Year 30: property vs stocks
- $1.36M vs $2.92M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $585,000
- Cash to close
- $163,800
- Price per unit
- $292,500
- GRM
- 13.4
Each month
- Cash flow
- −$1,426/mo
- Cash-on-cash
- −10.4%
- Cap rate
- 3.1%
- DSCR
- 0.51×
Break-even
- Price that breaks even
- $299,204
- Rent that breaks even
- $5,478/mo
Long run
- Year 30: property vs stocks
- $1.34M vs $2.36M
- Cash flow turns positive
- year 29
The deal
- Price
- $585,000
- Cash to close
- $163,800
- Price per unit
- $292,500
- GRM
- 13.4
Each month
- Cash flow
- −$1,735/mo
- Cash-on-cash
- −12.7%
- Cap rate
- 2.4%
- DSCR
- 0.41×
Break-even
- Price that breaks even
- $237,319
- Rent that breaks even
- $6,145/mo
Long run
- Year 30: property vs stocks
- $1.33M vs $2.84M
- Cash flow turns positive
- not within 30 years
Monthly
Monthly breakdown
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| 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 | $1,493 |
| Mortgage (principal + interest) | −$3,563 |
| PMI | −$335 |
| Cash flow | −$2,404 |
| Principal paid down (equity, not cash) | $453 |
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$292 |
| Capital reserve (8% of rent) | −$292 |
| Property management | −$309 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$3,563 |
| PMI | −$335 |
| Cash flow | −$2,713 |
| Principal paid down (equity, not cash) | $453 |
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| 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 | $1,493 |
| Mortgage (principal + interest) | −$3,503 |
| PMI | −$329 |
| Cash flow | −$2,339 |
| Principal paid down (equity, not cash) | $446 |
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$292 |
| Capital reserve (8% of rent) | −$292 |
| Property management | −$309 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$3,503 |
| PMI | −$329 |
| Cash flow | −$2,648 |
| Principal paid down (equity, not cash) | $446 |
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| 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 | $1,493 |
| Mortgage (principal + interest) | −$3,167 |
| Cash flow | −$1,674 |
| Principal paid down (equity, not cash) | $403 |
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$292 |
| Capital reserve (8% of rent) | −$292 |
| Property management | −$309 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$3,167 |
| Cash flow | −$1,983 |
| Principal paid down (equity, not cash) | $403 |
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| 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 | $1,493 |
| Mortgage (principal + interest) | −$3,114 |
| Cash flow | −$1,621 |
| Principal paid down (equity, not cash) | $396 |
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$292 |
| Capital reserve (8% of rent) | −$292 |
| Property management | −$309 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$3,114 |
| Cash flow | −$1,929 |
| Principal paid down (equity, not cash) | $396 |
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| 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 | $1,493 |
| Mortgage (principal + interest) | −$2,969 |
| Cash flow | −$1,476 |
| Principal paid down (equity, not cash) | $378 |
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$292 |
| Capital reserve (8% of rent) | −$292 |
| Property management | −$309 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$2,969 |
| Cash flow | −$1,785 |
| Principal paid down (equity, not cash) | $378 |
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| 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 | $1,493 |
| Mortgage (principal + interest) | −$2,919 |
| Cash flow | −$1,426 |
| Principal paid down (equity, not cash) | $371 |
| Rent | $3,650 |
| Vacancy (6%) | −$219 |
| Collected | $3,431 |
| Property tax Public record | −$911 |
| Insurance Estimate | −$213 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$292 |
| Capital reserve (8% of rent) | −$292 |
| Property management | −$309 |
| Net operating income | $1,184 |
| Mortgage (principal + interest) | −$2,919 |
| Cash flow | −$1,735 |
| Principal paid down (equity, not cash) | $371 |
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
- $1,357,568
- Rental profits, invested at 7%
- $0
Sells for $1,444,221 (value up 3% a year), minus 6% selling cost ($86,653). Rent paid down $535,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $588,808
- Monthly shortfalls, invested
- $1,944,375
$77,350 put into an index fund instead of the down payment and closing costs.
$512,060 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,175,615 ahead after 30 years.
- Your equity when you sell
- $1,357,568
- Rental profits, invested at 7%
- $0
Sells for $1,444,221 (value up 3% a year), minus 6% selling cost ($86,653). Rent paid down $535,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $588,808
- Monthly shortfalls, invested
- $2,424,697
$77,350 put into an index fund instead of the down payment and closing costs.
$688,349 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,655,937 ahead after 30 years.
- Your equity when you sell
- $1,334,752
- Rental profits, invested at 7%
- $0
Sells for $1,419,949 (value up 3% a year), minus 6% selling cost ($85,197). Rent paid down $526,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $578,912
- Monthly shortfalls, invested
- $1,874,762
$76,050 put into an index fund instead of the down payment and closing costs.
$490,234 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,118,922 ahead after 30 years.
- Your equity when you sell
- $1,334,752
- Rental profits, invested at 7%
- $0
Sells for $1,419,949 (value up 3% a year), minus 6% selling cost ($85,197). Rent paid down $526,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $578,912
- Monthly shortfalls, invested
- $2,355,084
$76,050 put into an index fund instead of the down payment and closing costs.
$666,524 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,599,244 ahead after 30 years.
- Your equity when you sell
- $1,357,568
- Rental profits, invested at 7%
- $0
Sells for $1,444,221 (value up 3% a year), minus 6% selling cost ($86,653). Rent paid down $476,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,041,737
- Monthly shortfalls, invested
- $1,392,105
$136,850 put into an index fund instead of the down payment and closing costs.
$353,487 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,076,274 ahead after 30 years.
- Your equity when you sell
- $1,357,568
- Rental profits, invested at 7%
- $0
Sells for $1,444,221 (value up 3% a year), minus 6% selling cost ($86,653). Rent paid down $476,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,041,737
- Monthly shortfalls, invested
- $1,872,427
$136,850 put into an index fund instead of the down payment and closing costs.
$529,777 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,556,596 ahead after 30 years.
- Your equity when you sell
- $1,334,752
- Rental profits, invested at 7%
- $0
Sells for $1,419,949 (value up 3% a year), minus 6% selling cost ($85,197). Rent paid down $468,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,024,229
- Monthly shortfalls, invested
- $1,331,774
$134,550 put into an index fund instead of the down payment and closing costs.
$334,326 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,021,251 ahead after 30 years.
- Your equity when you sell
- $1,334,752
- Rental profits, invested at 7%
- $0
Sells for $1,419,949 (value up 3% a year), minus 6% selling cost ($85,197). Rent paid down $468,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,024,229
- Monthly shortfalls, invested
- $1,812,096
$134,550 put into an index fund instead of the down payment and closing costs.
$510,616 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,501,573 ahead after 30 years.
- Your equity when you sell
- $1,357,568
- Rental profits, invested at 7%
- $819
Sells for $1,444,221 (value up 3% a year), minus 6% selling cost ($86,653). Rent paid down $446,250 of loan.
$819 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,268,202
- Monthly shortfalls, invested
- $1,168,567
$166,600 put into an index fund instead of the down payment and closing costs.
$283,052 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,078,382 ahead after 30 years.
- Your equity when you sell
- $1,357,568
- Rental profits, invested at 7%
- $0
Sells for $1,444,221 (value up 3% a year), minus 6% selling cost ($86,653). Rent paid down $446,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,268,202
- Monthly shortfalls, invested
- $1,648,071
$166,600 put into an index fund instead of the down payment and closing costs.
$458,523 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,558,704 ahead after 30 years.
- Your equity when you sell
- $1,334,752
- Rental profits, invested at 7%
- $2,020
Sells for $1,419,949 (value up 3% a year), minus 6% selling cost ($85,197). Rent paid down $438,750 of loan.
$1,980 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,246,887
- Monthly shortfalls, invested
- $1,113,208
$163,800 put into an index fund instead of the down payment and closing costs.
$266,250 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,023,324 ahead after 30 years.
- Your equity when you sell
- $1,334,752
- Rental profits, invested at 7%
- $0
Sells for $1,419,949 (value up 3% a year), minus 6% selling cost ($85,197). Rent paid down $438,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,246,887
- Monthly shortfalls, invested
- $1,591,510
$163,800 put into an index fund instead of the down payment and closing costs.
$440,560 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,503,646 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 $1.36M, stocks $2.53M. Stocks win.
Year 30 (loan paid off): property $1.36M, stocks $3.01M. Stocks win.
Year 30 (loan paid off): property $1.33M, stocks $2.45M. Stocks win.
Year 30 (loan paid off): property $1.33M, stocks $2.93M. Stocks win.
Year 30 (loan paid off): property $1.36M, stocks $2.43M. Stocks win.
Year 30 (loan paid off): property $1.36M, stocks $2.91M. Stocks win.
Year 30 (loan paid off): property $1.33M, stocks $2.36M. Stocks win.
Year 30 (loan paid off): property $1.33M, stocks $2.84M. Stocks win.
Year 30 (loan paid off): property $1.36M, stocks $2.44M. Stocks win.
Year 30 (loan paid off): property $1.36M, stocks $2.92M. Stocks win.
Year 30 (loan paid off): property $1.34M, stocks $2.36M. Stocks win.
Year 30 (loan paid off): property $1.33M, stocks $2.84M. 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.
2 bed / 1 bath estimate $1,825/mo · range $1,450–$2,175
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1217 Grand Ave, Saint Paul 55105 off market | $1,500 | 2 / 1 | 0.5 mi | 93% |
| 1702 Hague Ave, Saint Paul 55104 off market | $1,249 | 2 / 1 | 0.8 mi | 93% |
| 1702 Hague Ave, Apt 3, Saint Paul 55104 off market | $1,249 | 2 / 1 | 0.8 mi | 93% |
| 1135-1137 Goodrich Ave, Saint Paul 55105 | $2,350 | 2 / 1 | 0.6 mi | 85% |
| 1696 1/2 Grand Ave, Saint Paul 55105 off market | $1,495 | 2 / 1 | 0.6 mi | 85% |
| 1425 Grand Ave, Saint Paul 55105 | $950 | 1 / 1 | 0.2 mi | 84% |
| 1548 Hague, Saint Paul 55104 | $1,280 | 2 / 1 | 0.6 mi | 84% |
| 104 Snelling Ave N, # 106, Saint Paul 55104 off market | $1,750 | 2 / 1 | 0.6 mi | 84% |
| 420 Hamline Ave S, Apt 4, Saint Paul 55105 off market | $1,600 | 2 / 1 | 0.6 mi | 84% |
| 1319 Lincoln Ave, Unit 2, Saint Paul 55105 off market | $2,000 | 2 / 1 | 0.3 mi | 84% |
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
- mediumBought for $500,000 in Aug 2024; asking is 19% more 26 months later. Ask what was done to justify the jump. Public record: Ramsey County parcel 032823340109: last sale 2024-08-15, $500,000
- mediumAsking is $314,496 above the price where cash flow breaks even ($280,504) at the default scenario. Based on: Derived: price $595,000 vs. break-even $280,504
- mediumUpper unit is vacant, so there's no income from it until it's rented or owner-occupied Listing says: Upper unit is vacant and ready for an owner-occupant or new tenant · AI review
- mediumUpper rent of $2K+ is a projection and sits above our $1,825 midpoint Listing says: rent potential of $2K+ · AI review
- mediumTaxes are about $10.9K as non-homestead, a large drag on the numbers Based on: data: county.tax · AI review
- low$432 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 032823340109: special assessments (payable 2026) = $432.50
- lowRental license is still pending, so confirm the city will license both units as they're used Based on: data: city.rental_license · AI review
Opportunities
- Owner-occupy one unit and rent the other with the lower lease already in place Listing says: ready for an owner-occupant or new tenant · AI review
- Recent boiler replacement lowers near-term big-ticket risk on heat Listing says: two new boilers in 2025 · AI review
- Basement workshop and storage space could support extra income such as storage or laundry Listing says: excellent basement storage and workshop space · AI review
Questions for the agent
- Is the lower tenant's $2,000 rent current and paid on time? Can we see the lease and rent history?
- Who pays heat, water and electric? With two new boilers, are they separate or shared by both units?
- What are the $432 special assessments for, and will the seller pay them at closing?
- What did the seller do since buying at $500K in Aug 2024 to justify $595K?
- What is the status of the pending rental license, and has the city inspected it?
- Are the electrical panels and wiring updated, and what are the roof's age and condition?
Bottom line
Lovely building, but at $595K it loses about $1,700 a month as a rental and only makes sense as an owner-occupant purchase. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $10,928 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,561 |
| 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 rate | 8% / 8% |
Price history Realtor.com
On the market since 2026-09-23 (12 days); down $34,000 (5.4%) from the first ask of $629,000; last sold for $100,000 on 1991-04-25.
| Date | Event | Price |
|---|---|---|
| Price changed | $595,000 | |
| Listed | $629,000 | |
| Sold public record | $100,000 |
County record Public record
| Recorded as | two family dwelling - up/dwn |
| Living units | 2 |
| Year built | 1921 |
| Market value (2026) | $520,100 |
| Property tax, payable 2026 | $10,928 |
| Special assessments | $432 |
| Homestead | no |
| Last sale | 2024-08-15 · $500,000 |
Source: Ramsey County parcel records.
City rental certificate (CofO)
Residential 2 Units: 2 unit(s), A, status pending, renews 2030-02-22.
Nearest highway
Ayd Mill Road, about 1344 m away.
Crime in Macalester – Groveland
657 incidents in the last 12 months (33 per 1,000 residents), −22% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.