1759 Van Buren Ave

Duplex · 2 units: 3 bed / 1 bath ×2 · 2,550 sq ft

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

Overpriced

32 photos

Photos courtesy of Acuity Group - Broker, via Realtor.com.

Asking price: $495,000
Monthly cash flow: −$878
Estimated rent: $3,600/mo
Break-even price: $329,984

Adjust the numbers See the full breakdown

From the listing

Up/down duplex in Hamline-Midway. 6 bedrooms total, 3BR/1BA per unit, separate utilities, large detached garage. Systems have been replaced, not patched: newer roof, boilers, water heaters, windows, upgraded insulation and more. Full schedule of updates in MLS supplements. Buyer isn't walking into deferred maintenance on day one. Basement is unfinished and sized for a potential third unit; buyer to verify conversion feasibility and permitting with the City. 0.3 miles to the Green Line, walking distance to Hamline University and Allianz Field, easy I-94 access, established rental corridor with low vacancy. Eligible for owner-occupant financing; live in one unit and rent the other.

Listing courtesy of Acuity Group - Broker (Dustin Heggem). Description from Realtor.com, MLS #7100986. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a clean, well-finished up/down in a good rental area, but the price is the problem. At $495K the underwriting shows about -$878 a month and a 4.3% cap rate. Our rent estimates are $1,800 per 3-bed, which is about $3,600 a month gross, and that doesn't carry this price. Break-even is near $330K, so the seller is far off, and 96 days on market suggests the market agrees. The listing says systems were replaced but gives no years, so get the MLS update schedule and the boiler and roof dates before anything else. It's only worth a showing if you plan to owner-occupy with low-down financing and can get a large cut.

Things to consider

Price far above what rents support At ask the deal loses about $878 a month. Break-even is roughly $330K, so you would need a deep cut or owner-occupancy to make it work.
Verify the system updates The claimed new roof, boilers and windows are the main justification for the price. Without dates and permits, you can't judge how much capex you avoid.Listing says: “Systems have been replaced, not patched: newer roof, boilers, water heaters, windows, upgraded insulation and more.”
Investor tax bill will be higher The seller's homestead tax understates what you'll pay, which cuts cash flow further.
Owner-occupant path is the realistic one Low-down financing and living in one unit offsets part of the shortfall, though it won't fix the price gap.Listing says: “Eligible for owner-occupant financing; live in one unit and rent the other.”
St. Paul rent cap limits upside Sitting tenants are capped at 3% a year, so below-market rents can't be raised quickly to fix the numbers.
Third unit is speculative Don't pay for it in the price. Conversion needs city approval, egress and real construction cost.Listing says: “Basement is unfinished and sized for a potential third unit; buyer to verify conversion feasibility and permitting with the City.”

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

doneNewer roof, boilers, water heaters, windows and upgraded insulationListing says: Systems have been replaced, not patched: newer roof, boilers, water heaters, windows, upgraded insulation and more.

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: $495,000
Cash to close: $113,850
Price per unit: $247,500
GRM: 11.5

Each month

Cash flow: −$878/mo
Cash-on-cash: −9.3%
Cap rate: 4.3%
DSCR: 0.67×

Break-even

Price that breaks even: $329,984
Rent that breaks even: $4,726/mo

Long run

Year 30: property vs stocks: $1.26M vs $1.35M
Cash flow turns positive: year 17

Monthly

Monthly breakdown

Rent	$3,600
Vacancy (6%)	−$216
Collected	$3,384
Property tax Estimate	−$619
Insurance Estimate	−$203
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$288
Capital reserve (8% of rent)	−$288
Net operating income	$1,756
Mortgage (principal + interest)	−$2,635
Cash flow	−$878
Principal paid down (equity, not cash)	$335

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$1,257,287

Your equity when you sell: $1,129,405
Rental profits, invested at 7%: $127,882

Same money in stocks$1,345,842

Cash to close, invested at 7%: $866,655
Monthly shortfalls, invested: $479,186

Stocks come out $88,555 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 $1.26M, stocks $1.35M. 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.

3 bed estimate $1,800/mo · range $1,700–$1,925 · 7 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
824 Aldine St, Saint Paul	$1,800	3 / 1	—	0.3 mi	2026-09-26	Apartment
435 Fry St Apt 3, Saint Paul	$1,650	3 / 1	1,010	0.6 mi	2026-07-17	Apartment
1296/1298 Lafond Ave, Saint Paul	$1,395	3 / 2	972	1.0 mi	2026-08-29	Duplex triplex
1305 University Ave W, Saint Paul	$1,600	3 / 2	—	1.0 mi	2026-07-17	Apartment
1477 Iglehart Ave, Saint Paul	$1,700	3 / 1	—	1.1 mi	2026-07-20	Apartment
1849 Portland Ave S, Saint Paul	$1,795	3 / 1	925	1.3 mi	2024-04-15	Apartment
1838 Portland Ave, Saint Paul	$1,950	3 / 1	—	1.4 mi	2026-07-27	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

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 332923120226: homestead=Y
mediumAsking is $165,016 above the price where cash flow breaks even ($329,984) at the default scenario. Based on: Derived: price $495,000 vs. break-even $329,984
mediumThird-unit basement idea is unproven; permitting, egress and ceiling height are unknown Listing says: Basement is unfinished and sized for a potential third unit; buyer to verify conversion feasibility and permitting with the City. · AI review
mediumNo rental license on file in city data, so the legal status of renting both units needs confirming Based on: data: city.rental_license · AI review
mediumLast sold for $250K in 2018; asking is almost double Based on: data: county.last_sale_price · AI review
low$572 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 332923120226: special assessments (payable 2026) = $572.02
lowStairwell wall shows a visible crack Based on: photo 10 · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 96 days on market, 1 price cuts
Owner-occupant financing: live in one unit and rent the other to reduce the cash-flow hit Listing says: Eligible for owner-occupant financing; live in one unit and rent the other. · AI review
Strong rental location near transit, university and stadium Listing says: 0.3 miles to the Green Line, walking distance to Hamline University and Allianz Field · AI review

Questions for the agent

What are the install years for the roof, boilers, water heaters and windows? Please send the MLS update schedule.
What are the current rents, lease terms and move-in dates for each unit? Are either of them on a lease?
What are the $572 in special assessments for, and are they paid off at closing?
Is the property licensed as a rental with the city, and is there a certificate of occupancy?
Has anyone checked the basement for a third unit (ceiling height, egress, permits)?
Why has it sat 96 days, and has the price been cut?

Bottom line

Nicely updated and well located, but $495K is about $165K over what the rents support, so only pursue it at a much lower price or as an owner-occupant. 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. $353,900 market value × 2.10% (median for non-homestead duplexes/triplexes in the city).	$7,423
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,438
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 2026-01-14 (264 days); down $35,000 (6.6%) from the first ask of $530,000; last sold for $250,000 on 2018-10-29.

Date	Event	Price
2026-09-21	Price changed	$495,000
2026-07-01	Listed	$499,000
2026-06-26	Removed	$510,000
2026-04-26	Price changed	$510,000
2026-03-18	Price changed	$520,000
2026-01-14	Listed	$530,000
2018-10-29	Sold public record	$250,000
2013-08-13	Sold public record	$88,000

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1926
Market value (2026)	$353,900
Property tax, payable 2026	$5,880
Special assessments	$572
Homestead	yes
Last sale	2018-10-01 · $250,000

Source: Ramsey County parcel records.

City rental certificate (CofO)

No record in St. Paul Certificate of Occupancy – Residential (dataset last updated mid-2025).

Nearest highway

I 94, about 1135 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.