1693 Randolph Ave

Duplex · 2 units: 1 bed / 1 bath ×2 unit split estimated · 1,280 sq ft

Saint Paul, MN · Macalester – Groveland · View the listing ↗

Far off

25 photos

Photos courtesy of Edina Realty, Inc., via Realtor.com.

Asking price: $279,900
Monthly cash flow: −$614
Estimated rent: $2,350/mo
Break-even price: $164,575

Adjust the numbers See the full breakdown

First look

This is a single-level side-by-side duplex with two roughly 1-bed units, and at $279,900 it doesn't work at today's rates. Our underwriting shows about -$614/mo cash flow and a 3.8% cap rate, and break-even is near $165K. The listing gives no rents, no lease status and no occupancy, so ask for the rent roll first. The photos show dated kitchens with what appear to be original cabinets and flooring, and the 3% St. Paul cap limits how fast rents can catch up. Worth a showing only if the seller moves a long way on price after 67 days on market.

Things to consider

Price is far above what the income supports Cash flow is negative at asking and break-even is about $115K lower. A deal needs a major price cut or much higher rents.
Rents are unknown and capped With no rents stated, the numbers rest on our estimates. St. Paul's 3% cap limits increases on sitting tenants.
Non-homestead taxes and assessments add cost About $6,600 in tax plus $747 in assessments is a heavy load on two small units.
Seller has large equity and room to negotiate They bought for $135K in 2011 and the listing has sat 67 days, so a low offer is plausible.
Kitchens look dated and systems are unverified Budget for updates and ask about the furnace, water heater and panel, since the photos don't show them.From photo 3

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: $279,900
Cash to close: $64,377
Price per unit: $139,950
GRM: 9.9

Each month

Cash flow: −$614/mo
Cash-on-cash: −11.4%
Cap rate: 3.8%
DSCR: 0.59×

Break-even

Price that breaks even: $164,575
Rent that breaks even: $3,137/mo

Long run

Year 30: property vs stocks: $650K vs $916K
Cash flow turns positive: year 24

Monthly

Monthly breakdown

Rent	$2,350
Vacancy (6%)	−$141
Collected	$2,209
Property tax Public record	−$550
Insurance Estimate	−$177
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$188
Capital reserve (8% of rent)	−$188
Net operating income	$876
Mortgage (principal + interest)	−$1,490
Cash flow	−$614
Principal paid down (equity, not cash)	$190

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$650,459

Your equity when you sell: $638,628
Rental profits, invested at 7%: $11,832

Same money in stocks$916,171

Cash to close, invested at 7%: $490,054
Monthly shortfalls, invested: $426,117

Stocks come out $265,712 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 $650K, stocks $916K. 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.

1 bed estimate $1,175/mo · range $1,100–$1,225 · 13 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
488 S Snelling Ave Unit 115, Saint Paul	$1,000	1 / 1	600	0.2 mi	2023-06-20	Apartment
1564 Randolph Ave Apt 107, Saint Paul	$1,150	1 / 1	630	0.3 mi	2026-08-24	Apartment
476 Brimhall St, Saint Paul	$1,120	1 / 1	518	0.3 mi	2026-06-06	Apartment
1853 Randolph Ave, Saint Paul	$1,150	1 / 1	700	0.3 mi	2025-01-03	Apartment
1573 Hartford Ave, Saint Paul	$1,049	1 / 1	600	0.4 mi	2025-03-08	Apartment
1509 Randolph Ave, Saint Paul	$945	1 / 1	700	0.4 mi	2026-05-06	Apartment
622-632 Snelling Ave S, Saint Paul	$1,099	1 / 1	735	0.4 mi	2026-04-01	Apartment
638-642 Snelling Ave S, Saint Paul	$1,049	1 / 1	505	0.4 mi	2026-02-02	Apartment
1480 Randolph Ave, Saint Paul	$1,250	1 / 1	—	0.5 mi	2026-09-22	Apartment
1469 Randolph Ave, Saint Paul	$1,100	1 / 1	630	0.5 mi	2026-09-23	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, leases or occupancy are given, so income is unverified. Based on: data: rent_estimate · AI review
mediumAsking is $115,325 above the price where cash flow breaks even ($164,575) at the default scenario. Based on: Derived: price $279,900 vs. break-even $164,575
mediumRental license is for 1691 Randolph and shows Pending status. Confirm it covers this address and both units. Based on: data: city.rental_license · AI review
mediumBoth units share one garage and one basement. Check how the basement is split and whether the units are truly separately metered. Listing says: Shared garage with separation wall and an extra parking pad · AI review
mediumTaxes are about $6,600 at the non-homestead rate, which heavily weighs on a 2-unit building at this price. Based on: data: county.tax · AI review
low$747 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 092823140155: special assessments (payable 2026) = $747.26

Opportunities

The seller bought for $135,000 in Aug 2011, so they can take a lower offer and still come out well ahead. Public record: Ramsey County parcel 092823140155: last sale 2011-08-18, $135,000
Full basement could add storage or possible expansion, but it would need permits and egress. Listing says: The full basement offers excellent storage and potential for future expansion. · AI review
Separate utilities mean tenants carry their own costs, which keeps owner expenses low. Listing says: Separate utilities for each unit. · AI review
Dated kitchens may leave room to add value, but the 3% cap limits how fast rents can rise on current tenants. Based on: photo 3 · AI review

Questions for the agent

What are the current rents, lease end dates and security deposits for each unit?
Are both units occupied, and is either tenant month-to-month?
What is the roof's actual age, and are the furnace, water heater and electrical panel original?
What are the $747 special assessments for, and will the seller pay them at closing?
Is the rental license current for this address, and does it cover both units?
Why has it sat 67 days, and has the price been cut?

Bottom line

Charming but overpriced single-level duplex that loses money at asking, so only pursue it at a far lower price after verifying rents. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)	$6,605
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,120
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 2026-07-30 (67 days, relisted 1×); down $20,100 (6.7%) from the first ask of $300,000; last sold for $135,000 on 2011-08-25.

Date	Event	Price
2026-10-03	Price changed	$279,900
2026-09-08	Relisted	$300,000
2026-08-29	Removed	$300,000
2026-07-30	Listed	$300,000
2011-08-25	Sold	$135,000
2011-06-24	Price changed	$144,900
2011-05-21	Listed	$154,000

County record Public record

Recorded as	two family dwelling - side/side
Living units	2
Year built	1929
Market value (2026)	$327,500
Property tax, payable 2026	$6,605
Special assessments	$747
Homestead	no
Last sale	2011-08-18 · $135,000

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), A, status pending, renews 2027-09-21.

Nearest highway

Ayd Mill Road, about 2090 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.