1538/1540 Hartford Ave

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,931 sq ft

Saint Paul, MN · Highland Park (Highland Bridge) · View the listing ↗

Far off

35 photos

Photos courtesy of NRT-Minnesota (CB Burnet), via Realtor.com.

Asking price: $515,000
Monthly cash flow: −$1,671
Estimated rent: $3,050/mo
Break-even price: $201,087

Adjust the numbers See the full breakdown

From the listing

Located in the heart of sought-after Mac-Groveland, this well-maintained side-by-side duplex offers a great opportunity for an owner-occupant or investor. Both units feature two bedrooms, comfortable living spaces, hardwood floors, and functional kitchens with ample cabinetry and tile backsplash. Natural light fills both units, creating a light, bright, and airy feel throughout the main living spaces. Each unit offers a lower level with laundry and abundant storage, while one side provides more finished lower-level space for additional living, recreation, office, or hobby space. The lower levels offer excellent flexibility for storage and future use. Outside, each unit has its own yard space, a detached two-car garage, and additional off-street parking. Ideally located near neighborhood parks, the Mississippi River, local restaurants, coffee shops, shopping, and everyday amenities, with convenient access to downtown St. Paul, Minneapolis, Minneapolis-St. Paul International Airport, and major highways. Whether you're looking to owner-occupy, expand your investment portfolio, or generate rental income, this duplex offers versatile living and investment potential in a desirable Mac-Groveland location.

Listing courtesy of NRT-Minnesota (CB Burnet) (Thomas Edelstein). Description from Realtor.com, MLS #7125415. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 1954 side-by-side duplex with two 2-bed units asking $515K. Our numbers don't work: about $3,050/mo in estimated rent against a -$1,671/mo cash flow at 20% down, and a 2.5% cap rate. The listing gives no rents, no lease status, no taxes and no utility info, so the first job is a rent roll and tax bill. The photos show decent hardwoods and baths, but one bath looks original and the kitchens are dated. It is only worth a showing if you want to owner-occupy one side or the price drops hard.

Things to consider

Numbers fail at asking price Cash flow is deeply negative and break-even price is about $201K, far below ask. Only an owner-occupant benefit or a big cut makes sense.
Rents are unknown Without a rent roll you can't tell if tenants pay near our $1,525 estimate. Sitting tenants are also capped at 3% per year.
Dated kitchens and one original bath Budget for updates before pushing rents. The cosmetic backsplash doesn't change the age of the cabinets and counters.From photo 4
Taxes and legal status unverified An investor tax bill can be well above a homestead one, and the unit count and license need confirming with the city.
Mechanical systems not shown 1954 build means furnaces, panels and roof could be near end of life. Ask for ages and inspect.From photo 8

From the photos

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

Condition and repairs

neededLower levels offer flexibility for storage and future use (unfinished space on one side)Listing says: one side provides more finished lower-level space for additional living, recreation, office, or hobby space

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: $515,000
Cash to close: $118,450
Price per unit: $257,500
GRM: 14.1

Each month

Cash flow: −$1,671/mo
Cash-on-cash: −16.9%
Cap rate: 2.5%
DSCR: 0.39×

Break-even

Price that breaks even: $201,087
Rent that breaks even: $5,192/mo

Long run

Year 30: property vs stocks: $1.18M vs $2.46M
Cash flow turns positive: not within 30 years

Monthly

Monthly breakdown

Rent	$3,050
Vacancy (6%)	−$183
Collected	$2,867
Property tax Listing	−$888
Insurance Estimate	−$190
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$244
Capital reserve (8% of rent)	−$244
Net operating income	$1,070
Mortgage (principal + interest)	−$2,741
Cash flow	−$1,671
Principal paid down (equity, not cash)	$349

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$1,175,038

Your equity when you sell: $1,175,038
Rental profits, invested at 7%: $0

Same money in stocks$2,464,444

Cash to close, invested at 7%: $901,672
Monthly shortfalls, invested: $1,562,772

Stocks come out $1,289,406 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 $2.46M. Stocks win.

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.

2 bed estimate $1,525/mo · range $1,375–$1,975 · 19 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1532 Randolph Ave, Saint Paul	$1,450	2 / 1	700	0.2 mi	2025-05-02	Apartment
1257 Palace Ave, Saint Paul	$2,450	2 / —	1,988	0.7 mi	2026-09-22	Duplex triplex
246 Snelling Ave S, Saint Paul	$2,292	2 / 1	868	0.7 mi	2024-06-29	Apartment
1087 Randolph Ave, Saint Paul	$1,245	2 / 1	700	1.0 mi	2026-08-06	Apartment
2065 Niles Ave, Saint Paul	$1,307	2 / 1	800	1.1 mi	2026-09-03	Apartment
944 Saint Paul Ave, Saint Paul	$1,145	2 / 1	750	1.2 mi	2026-09-30	Apartment
885 Saint Paul Ave Apt 5, Saint Paul	$1,300	2 / 1	—	1.2 mi	2026-10-01	Apartment
1712 Grand Ave, Saint Paul	$1,149	2 / 1	1,025	1.2 mi	2026-01-27	Apartment
845 Cleveland Ave S, Saint Paul	$1,850	2 / 1	990	1.2 mi	2025-01-03	Apartment
1844 Grand Ave Apt 5, Saint Paul	$1,424	2 / 1	650	1.3 mi	2023-11-02	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

highPrice is far above what the rents support; cap rate is about 2.6% Based on: data: underwriting · 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 1538/1540 HARTFORD AVE
mediumAsking is $313,913 above the price where cash flow breaks even ($201,087) at the default scenario. Based on: Derived: price $515,000 vs. break-even $201,087
mediumNo rents, lease terms or occupancy given; the listing sells it as owner-occupant or investor Listing says: great opportunity for an owner-occupant or investor · AI review
mediumUnit count and taxes unverified; no county match. Confirm legal duplex and rental license. Based on: data: city.rental_license · AI review
lowHeat, utilities and metering are not stated; possible shared systems Based on: data: county.heat_type · AI review

Opportunities

Owner-occupy one side and rent the other to offset the cost Listing says: great opportunity for an owner-occupant or investor · AI review
Detached garages and off-street parking for each unit support rent and tenant demand Listing says: a detached two-car garage, and additional off-street parking · AI review
Finished lower level on one side could add usable space Listing says: one side provides more finished lower-level space for additional living, recreation, office, or hobby space · AI review

Questions for the agent

What are the current rents, lease end dates and deposits for each unit?
Is either unit owner-occupied now, and will it be delivered vacant?
What are the real property taxes and is it licensed as a duplex with the city?
Who pays heat, water and electric, and are there separate furnaces, meters and panels?
How old are the roof, furnaces, water heaters and electrical panels?
Why is the price $515K, and is there any room to negotiate?

Bottom line

Nice-looking Mac-Groveland side-by-side, but at $515K the rents can't carry it; treat it as an owner-occupant play, not a cash-flow deal. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2026. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit.	$10,662
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,283
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 2026-09-09 (26 days); down $10,000 (1.9%) from the first ask of $525,000; last sold for $375,000 on 2020-12-28.

Date	Event	Price
2026-09-25	Price changed	$515,000
2026-09-09	Listed	$525,000
2020-12-28	Sold public record	$375,000
2020-03-01	Removed	$395,000
2018-01-16	Sold public record	$342,000
2011-12-01	Sold public record	$224,900
2011-09-28	Sold	$224,900
2011-07-28	Price changed	$227,900
2011-04-05	Listed	$237,900

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$10,662
County	Ramsey
Parcel number	102823330156

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, about 1597 m away.

Crime in Highland Park

1,010 incidents in the last 12 months (39 per 1,000 residents), −14% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.