1673 Van Buren Ave

Duplex · 2 units: 2 bed / 1 bath and 1 bed / 1 bath unit split estimated · 1,727 sq ft

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

Far off

58 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $325,000
Monthly cash flow: −$830
Estimated rent: $2,450/mo
Break-even price: $168,989

Adjust the numbers See the full breakdown

From the listing

Charming Up-and-Down Duplex in the Heart of St. Paul! Exceptional opportunity to own a beautifully maintained up-and-down duplex in one of St. Paul's most convenient and walkable locations. Just minutes from restaurants, shopping, Hamline, and Allianz Field, this property offers outstanding accessibility and neighborhood appeal. Both units feature inviting sunrooms with elegant French doors, creating bright and welcoming living spaces filled with natural light. Gorgeous hardwood floors, charming crown molding, and abundant windows throughout add warmth and character to the home. The main-level unit offers one bedroom + sun room and access to laundry in the basement. The upper-level unit features two bedrooms and the convenience of in-unit laundry located in the kitchen. Separated utilities paid by the tenant. Updated boilers, elec, windows & water heaters. Outside, you'll find ample off-street parking in the rear of the property with parking pad. Whether you're looking for an owner-occupant opportunity or a solid investment property, this duplex delivers value, character, and an unbeatable location. Don't miss the chance to own this attractive and versatile property-there's so much to appreciate here! Always easy to rent - seller says he has 50+ applicants anytime he posts!

Listing courtesy of RE/MAX Results (Marti Estey). Description from Realtor.com, MLS #7091110. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 1901 up/down in Hamline-Midway asking $325K, and our numbers say it doesn't work. At 20% down and today's rates, cash flow is about -$830 a month, the cap rate is 3.3%, and break-even price is around $169K. Our rent estimates are $1,100 for the 1-bed and $1,350 for the 2-bed, which can't carry this price. The listing gives no actual rents, only a claim of '50+ applicants', so get the rent roll and leases first. It has been listed 102 days, so there's room to negotiate, but I'd only tour it if the seller moves a long way. Also confirm the rental license is current, since it shows as Pending.

Things to consider

Price is far above what the rents support At ask, cash flow is about -$830 a month and the cap rate is 3.3%. You'd be paying to own it unless the price drops a lot.
No actual rents are disclosed Our estimates are $1,100 for the 1-bed and $1,350 for the 2-bed. St. Paul's 3% cap limits increases on sitting tenants, so in-place rents matter.
Special assessments and homestead taxes Investor taxes will be higher than the $5,143 homestead bill, and $1,869 in assessments needs explaining.
System updates are unspecified Boiler, electrical and water heater age drive reserves and insurance. 'Updated' could mean anything from 5 to 30 years ago.Listing says: “Updated boilers, elec, windows & water heaters.”
Seller bought at $242.5K in 2021 Asking is about $82K above that sale, which suggests the seller is pricing for the market's peak, not for rents.

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

doneUpdated boilers, electrical, windows and water heaters (no dates given)Listing says: Updated boilers, elec, windows & water heaters.

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: $325,000
Cash to close: $74,750
Price per unit: $162,500
GRM: 11.1

Each month

Cash flow: −$830/mo
Cash-on-cash: −13.3%
Cap rate: 3.3%
DSCR: 0.52×

Break-even

Price that breaks even: $168,989
Rent that breaks even: $3,528/mo

Long run

Year 30: property vs stocks: $742K vs $1.22M
Cash flow turns positive: year 29

Monthly

Monthly breakdown

Rent	$2,450
Vacancy (6%)	−$147
Collected	$2,303
Property tax Estimate	−$552
Insurance Estimate	−$205
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$196
Capital reserve (9% of rent)	−$220
Net operating income	$899
Mortgage (principal + interest)	−$1,730
Cash flow	−$830
Principal paid down (equity, not cash)	$220

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$741,999

Your equity when you sell: $741,528
Rental profits, invested at 7%: $470

Same money in stocks$1,222,090

Cash to close, invested at 7%: $569,016
Monthly shortfalls, invested: $653,074

Stocks come out $480,091 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 $742K, stocks $1.22M. 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 $1,350/mo · range $1,300–$1,500 · 9 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1605 Minnehaha Ave W, Saint Paul	$1,325	2 / 1	815	0.1 mi	2024-04-12	Apartment
613 Snelling Ave N, Saint Paul	$1,600	2 / 1	—	0.2 mi	2026-04-14	Apartment
508 Fry St, Saint Paul	$1,229	2 / 1	830	0.4 mi	2026-02-19	Apartment
748 Tatum St, Saint Paul	$1,195	2 / 1	850	0.4 mi	2026-04-13	Apartment
412 Pierce St N, Saint Paul	$1,195	2 / 1	950	0.6 mi	2026-06-03	Apartment
483 W Lynnhurst Ave Unit 18, Saint Paul	$1,249	2 / 1	1,250	0.7 mi	—	Apartment
405 Fairview Ave N, Saint Paul	$1,055	2 / 1	725	0.7 mi	2025-01-03	Apartment
1621 St Anthony Ave Apt 6, Saint Paul	$1,440	2 / 1	750	0.7 mi	2025-06-13	Apartment
441 Lynnhurst Ave W, Saint Paul	$1,289	2 / 1	880	0.7 mi	2024-04-15	Apartment

1 bed estimate $1,100/mo · range $1,025–$1,225 · 22 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1715 Thomas Ave, Saint Paul	$950	1 / 1	600	0.2 mi	2026-09-23	Apartment
565 Aldine St, Saint Paul	$1,195	1 / 1	725	0.3 mi	2025-04-18	Apartment
1642 Charles Ave Apt 101, Saint Paul	$995	1 / 1	550	0.3 mi	2026-08-30	Apartment
1562 Edmund Ave Apt 1, Saint Paul	$950	1 / 1	600	0.4 mi	—	Apartment
550 Snelling Ave N, Saint Paul	$1,070	1 / 1.5	700	0.4 mi	2024-04-12	Apartment
1552 Edmund Ave, Saint Paul	$825	1 / 1	600	0.4 mi	2026-06-11	Apartment
1693 Sherburne Ave, Saint Paul	$1,150	1 / 1	—	0.4 mi	2026-09-15	Apartment
893-895 Fry St, Saint Paul	$949	1 / 1	608	0.4 mi	2026-06-25	Apartment
478 Herschel St, Saint Paul	$840	1 / 1	330	0.5 mi	2026-08-03	Apartment
476 Herschel St, Saint Paul	$899	1 / 1	380	0.5 mi	2024-04-15	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

highAsking price is roughly double the break-even price; cash flow is deeply negative Based on: data: underwriting.break_even_price · AI review
mediumThe seller is homesteaded, so the current tax bill is lower than what an investor will pay. We use an estimated non-homestead tax instead. Public record: Ramsey County parcel 332923110112: homestead=Y
medium$1,869 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 332923110112: special assessments (payable 2026) = $1,869.48
mediumAsking is $156,011 above the price where cash flow breaks even ($168,989) at the default scenario. Based on: Derived: price $325,000 vs. break-even $168,989
mediumRental license is only Pending; confirm it is current and covers both units Based on: data: city.rental_license · AI review
medium'Updated' systems have no dates or permits; each item needs verification Listing says: Updated boilers, elec, windows & water heaters. · AI review
mediumDemand claim is unverified and no actual rents are given Listing says: seller says he has 50+ applicants anytime he posts! · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 102 days on market
Separate utilities paid by tenants keep owner operating costs lower Listing says: Separated utilities paid by the tenant. · AI review
Off-street rear parking and in-unit laundry in the upper unit help rentability Listing says: ample off-street parking in the rear of the property with parking pad · AI review

Questions for the agent

What are the current rents, lease end dates and lease types for each unit?
Can you share the trailing-12 income and expenses, plus tax and insurance bills?
What are the $1,869 in special assessments for, and who pays them at closing?
What year and permit records exist for the boilers, electrical, windows and water heaters?
Why is the rental license Pending, and is the 2-unit license current?
Why has it sat 102 days, and has the price been reduced?

Bottom line

Pleasant, rentable-looking up/down, but at $325K the rents can't support it and you'd need a price near half that to break even. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Estimateestimate. Seller is homesteaded; an investor pays the non-homestead rate. $316,100 market value × 2.10% (median for non-homestead duplexes/triplexes in the city).	$6,630
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,455
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 1901: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-06-25 (102 days); last sold for $242,500 on 2021-01-22.

Date	Event	Price
2026-06-25	Listed	$325,000
2021-01-22	Sold	$242,500
2021-01-10	Relisted	$240,000
2020-12-21	Removed	$240,000
2020-12-18	Listed	$240,000
2008-07-30	Sold public record	$179,000
2000-12-19	Sold public record	$67,500

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1901
Market value (2026)	$316,100
Property tax, payable 2026	$5,143
Special assessments	$1,869
Homestead	yes
Last sale	2021-01-22 · $242,500

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), A, status pending, renews 2026-09-30.

Nearest highway

I 94, about 1148 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.