1724 Malvern St

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,657 sq ft

Overpriced

42 photos

Photos courtesy of Keller Williams Realty, via Realtor.com.

Asking price: $315,000
Monthly cash flow: −$458
Estimated rent: $2,750/mo
Break-even price: $228,965

Adjust the numbers See the full breakdown

From the listing

Have you ever heard of Lauderdale? Many haven't, and that's part of the appeal! Tucked quietly away in one of the most beautiful and historic parts of the Twin Cities, yet convenient to 94 and Hwy 280, Lauderdale is a hidden little gem of a neighborhood. Within walking or biking distance to St. Anthony Park, with it's locally famous and eclectic shops and cafes, this up/down duplex offers a great owner-occupancy or cashflow. Ready for your finishing touches, it has three finished levels, with two distinct owner-occupant options: a large, two-level owners unit with rental income coming from the second floor, or maximizing your return and living affordably in the upper-level two bedroom unit while the bigger main floor unit pays your mortgage. A rare finished basement with family room enhances the main unit, and a third bedroom could easily be added with an egress window. This just might be one of the most affordable entry points into one of St. Paul's most wholesome neighborhoods. This property is your chance to get the keys to Lauderdale, the unofficially cutest nook in the heart of St. Paul! **BONUS: Lauderdale is not St. Paul, so this property is NOT subject to the St. Paul rent control ordinances.**

Listing courtesy of Keller Williams Realty (Paul Olson). Description from Realtor.com, MLS #7143583. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a small up/down in Lauderdale, priced at $315K, and it doesn't work as a pure rental. Our model shows about -$458 a month and a 4.6% cap rate at asking, with break-even near $229K. Our rent estimates are only about $1,375 per unit, so there's no income cushion. The listing states no rents and no leases, and the county parcel didn't match, so taxes and unit count are unverified. The photos show dated but clean finishes, an original-looking kitchen, and a basement with older systems. It only makes sense as an owner-occupant deal at a lower price. Get the tax bill, rental license status and the age of the furnace and panels before spending time on a showing.

Things to consider

Price is far above what rents support Break-even is about $229K against a $315K ask, so cash flow is negative. You'd be paying for the owner-occupant story.
No rents or lease information Our estimates are about $1,375 per unit, but there is no actual rent roll to test against.
Owner-occupant path is the realistic one Living in one unit lowers your housing cost and avoids relying on two tenants for cash flow.Listing says: “living affordably in the upper-level two bedroom unit while the bigger main floor unit pays your mortgage”
Unverified taxes and unit count Taxes are unknown and non-homestead taxes for an investor can be much higher than a seller's bill.
Dated interiors and aging systems likely need money Original-looking kitchen and basement mechanicals mean reserves before raising rents.From photo 6
Lauderdale has no rent cap Rents can rise with the market after improvements, unlike in St. Paul.Listing says: “this property is NOT subject to the St. Paul rent control ordinances”

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

neededCosmetic updates / finishing touches neededListing says: Ready for your finishing touches, it has three finished levels
neededEgress window needed to add a third bedroom in the basementListing says: a third bedroom could easily be added with an egress window

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: $315,000
Cash to close: $72,450
Price per unit: $157,500
GRM: 9.5

Each month

Cash flow: −$458/mo
Cash-on-cash: −7.6%
Cap rate: 4.6%
DSCR: 0.73×

Break-even

Price that breaks even: $228,965
Rent that breaks even: $3,337/mo

Long run

Year 30: property vs stocks: $844K vs $767K
Cash flow turns positive: year 14

Monthly

Monthly breakdown

Rent	$2,750
Vacancy (6%)	−$165
Collected	$2,585
Property tax Listing	−$512
Insurance Estimate	−$185
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$220
Capital reserve (8% of rent)	−$220
Net operating income	$1,219
Mortgage (principal + interest)	−$1,677
Cash flow	−$458
Principal paid down (equity, not cash)	$213

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$843,787

Your equity when you sell: $718,713
Rental profits, invested at 7%: $125,075

Same money in stocks$766,721

Cash to close, invested at 7%: $551,508
Monthly shortfalls, invested: $215,213

The building comes out $77,066 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 $844K, stocks $767K. The property wins.

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 $1,375/mo · range $1,325–$1,700 · 9 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1611 Pleasant St, Lauderdale	$1,600	2 / 1	925	0.2 mi	2025-04-01	Apartment
1622 Carl St, Lauderdale	$1,270	2 / 1	928	0.3 mi	2025-01-03	Apartment
1365 Eustis St, Saint Paul	$1,369	2 / 1	804	0.8 mi	2026-08-31	Apartment
1845 Larpenteur Ave W, Falcon Heights	$1,220	2 / 1	770	1.3 mi	2025-06-21	Apartment
1099 15th Ave SE, Minneapolis	$1,300	2 / 1	—	1.4 mi	2024-07-26	Apartment
2280 Priscilla St, Saint Paul	$1,263	2 / 1	755	1.4 mi	2025-01-03	Apartment
1034 14th Ave SE Unit 2, Minneapolis	$1,650	2 / 1	975	1.4 mi	—	Apartment
1313 Como Ave SE Apt 103, Minneapolis	$1,645	2 / 1	1,100	1.5 mi	2025-12-03	Apartment
2044 Brewster St, Saint Paul	$1,300	2 / 1	726	1.5 mi	2025-01-03	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

highPitched as owner-occupant; no rents or leases given, so income is unproven Listing says: this up/down duplex offers a great owner-occupancy or cashflow · 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 1724 MALVERN ST
mediumUnit count, taxes and rental license could not be verified against county records Based on: data: county.tax · AI review
mediumExterior wood stairs to the upper unit look weathered; check condition and code compliance Based on: photo 2 · AI review
lowBasement family room is finished but has no egress; it is not a legal bedroom Listing says: a third bedroom could easily be added with an egress window · AI review

Opportunities

No rent control in Lauderdale, so rents can follow the market Listing says: this property is NOT subject to the St. Paul rent control ordinances · AI review
Basement could become a third bedroom with egress, lifting the main unit's rent Listing says: a third bedroom could easily be added with an egress window · AI review
House-hacking: live in one unit while the other pays part of the mortgage Listing says: living affordably in the upper-level two bedroom unit while the bigger main floor unit pays your mortgage · AI review

Questions for the agent

What are the current rents and lease terms, and is either unit occupied now?
What are the real property taxes, and is it licensed as a duplex with Lauderdale?
Are the units separately metered for gas and electric, and who pays water and heat?
How old are the furnace, water heater, roof and electrical panels?
Are the exterior stairs and upper unit egress permitted and up to code?
Why has it sat 22 days, and is the seller open to a price cut?

Bottom line

Cute and rent-control-free, but at $315K the numbers lose money each month, so it only works as a discounted owner-occupant buy. 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.	$6,142
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,214
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 2026-09-13 (22 days); last sold for $135,000 on 2016-06-02; listed for rent at $1,195/mo on 2021-10-01.

Date	Event	Price
2026-09-13	Listed	$315,000
2021-11-08	Removed	—
2021-10-01	Rent changed	$1,195/mo
2021-09-20	Rent changed	$1,295/mo
2021-07-27	Rent changed	$1,400/mo
2021-07-21	Listed for rent	$1,475/mo
2016-06-02	Sold	$135,000
2016-03-18	Listed	$135,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$6,142
County	Ramsey
Parcel number	172923330067

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.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Lauderdale on rental licensing before you buy.

Nearest highway

MN 280, about 160 m away.