197 Kent St
Fourplex · 4 units: 2 bed / 2 bath ×4 unit split estimated · 4,748 sq ft
Saint Paul, MN · Summit – University (Rondo, Cathedral Hill) · View the listing ↗
Photos courtesy of Compass, via Realtor.com.
- Asking price
- $925,000 4 units · $231K per unit
- Monthly cash flow
- −$1,538 at 20% down, 7%
- Break-even price
- $635,994 where cash flow hits $0
First look
This is a $925K, four-unit Cathedral Hill building in a great location, but our numbers say it doesn't work at today's rates. At ask the cap rate is 4.4% and cash flow is about -$1,538 a month, and break-even is near $636K. The description gives no rents, no taxes and no unit mix, and it says the building is a condo structure, so check how title, the HOA and the rental license actually work before anything else. The listing has sat 104 days, so there is room to negotiate, but a $289K gap is more than a haircut. Get the rent roll, leases and tax bill first. Only tour it if the seller will come down a long way.
Things to consider
- Price versus income Break-even is around $636K and ask is $925K. A negative cash flow this size means you'd carry the building with outside cash.
- Condo structure and title The structure affects financing, resale, who controls the roof and common areas, and whether you can buy all four units. It needs a legal and title check.Listing says: “The property's condominium structure also creates potential future upside for individual unit sales.”
- No rents or taxes disclosed Without the rent roll and tax bill we can't confirm income. Our rent estimates are $1,525 per unit mid-range, which is modest against the price.
- St. Paul 3% rent cap Below-market rents on long-term tenants can't be raised quickly, which limits upside.
- Updates look partly cosmetic Baths and kitchens appear dated or mid-grade. Verify scope, age and permits for the claimed capital work.From photo 8
- Unverified parcel and rental license We could not match the county record, and the license is pending. Confirm unit count and legal status.
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 kitchens and bathsListing says: Recent capital improvements include updated kitchens and baths, new HVAC and AC units per unit
- doneNew HVAC and AC units per unitListing says: new HVAC and AC units per unit, new decks installed in 2023, and a replaced roof
- doneNew decks installed in 2023Listing says: new decks installed in 2023, and a replaced roof
- doneReplaced roof (date not given)Listing says: new decks installed in 2023, and a replaced roof
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
- $925,000
- Cash to close
- $120,250
- Price per unit
- $231,250
- GRM
- 12.6
Each month
- Cash flow
- −$2,674/mo
- Cash-on-cash
- −26.7%
- Cap rate
- 4.4%
- DSCR
- 0.56×
Break-even
- Price that breaks even
- $516,780
- Rent that breaks even
- $9,618/mo
Long run
- Year 30: property vs stocks
- $2.29M vs $2.38M
- Cash flow turns positive
- year 19
The deal
- Price
- $925,000
- Cash to close
- $120,250
- Price per unit
- $231,250
- GRM
- 12.6
Each month
- Cash flow
- −$3,190/mo
- Cash-on-cash
- −31.8%
- Cap rate
- 3.7%
- DSCR
- 0.47×
Break-even
- Price that breaks even
- $437,995
- Rent that breaks even
- $10,823/mo
Long run
- Year 30: property vs stocks
- $2.14M vs $3.04M
- Cash flow turns positive
- year 26
The deal
- Price
- $915,000
- Cash to close
- $118,950
- Price per unit
- $228,750
- GRM
- 12.5
Each month
- Cash flow
- −$2,608/mo
- Cash-on-cash
- −26.3%
- Cap rate
- 4.4%
- DSCR
- 0.56×
Break-even
- Price that breaks even
- $516,780
- Rent that breaks even
- $9,532/mo
Long run
- Year 30: property vs stocks
- $2.28M vs $2.32M
- Cash flow turns positive
- year 19
The deal
- Price
- $915,000
- Cash to close
- $118,950
- Price per unit
- $228,750
- GRM
- 12.5
Each month
- Cash flow
- −$3,124/mo
- Cash-on-cash
- −31.5%
- Cap rate
- 3.8%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $437,995
- Rent that breaks even
- $10,726/mo
Long run
- Year 30: property vs stocks
- $2.12M vs $2.96M
- Cash flow turns positive
- year 25
The deal
- Price
- $925,000
- Cash to close
- $212,750
- Price per unit
- $231,250
- GRM
- 12.6
Each month
- Cash flow
- −$1,538/mo
- Cash-on-cash
- −8.7%
- Cap rate
- 4.4%
- DSCR
- 0.69×
Break-even
- Price that breaks even
- $635,994
- Rent that breaks even
- $8,124/mo
Long run
- Year 30: property vs stocks
- $2.45M vs $2.39M
- Cash flow turns positive
- year 15
The deal
- Price
- $925,000
- Cash to close
- $212,750
- Price per unit
- $231,250
- GRM
- 12.6
Each month
- Cash flow
- −$2,054/mo
- Cash-on-cash
- −11.6%
- Cap rate
- 3.7%
- DSCR
- 0.58×
Break-even
- Price that breaks even
- $539,034
- Rent that breaks even
- $9,142/mo
Long run
- Year 30: property vs stocks
- $2.21M vs $2.95M
- Cash flow turns positive
- year 21
The deal
- Price
- $915,000
- Cash to close
- $210,450
- Price per unit
- $228,750
- GRM
- 12.5
Each month
- Cash flow
- −$1,485/mo
- Cash-on-cash
- −8.5%
- Cap rate
- 4.4%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $635,994
- Rent that breaks even
- $8,054/mo
Long run
- Year 30: property vs stocks
- $2.45M vs $2.33M
- Cash flow turns positive
- year 15
The deal
- Price
- $915,000
- Cash to close
- $210,450
- Price per unit
- $228,750
- GRM
- 12.5
Each month
- Cash flow
- −$2,001/mo
- Cash-on-cash
- −11.4%
- Cap rate
- 3.8%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $539,034
- Rent that breaks even
- $9,063/mo
Long run
- Year 30: property vs stocks
- $2.20M vs $2.88M
- Cash flow turns positive
- year 21
The deal
- Price
- $925,000
- Cash to close
- $259,000
- Price per unit
- $231,250
- GRM
- 12.6
Each month
- Cash flow
- −$1,231/mo
- Cash-on-cash
- −5.7%
- Cap rate
- 4.4%
- DSCR
- 0.73×
Break-even
- Price that breaks even
- $678,393
- Rent that breaks even
- $7,719/mo
Long run
- Year 30: property vs stocks
- $2.57M vs $2.51M
- Cash flow turns positive
- year 13
The deal
- Price
- $925,000
- Cash to close
- $259,000
- Price per unit
- $231,250
- GRM
- 12.6
Each month
- Cash flow
- −$1,747/mo
- Cash-on-cash
- −8.1%
- Cap rate
- 3.7%
- DSCR
- 0.62×
Break-even
- Price that breaks even
- $574,970
- Rent that breaks even
- $8,686/mo
Long run
- Year 30: property vs stocks
- $2.27M vs $3.01M
- Cash flow turns positive
- year 19
The deal
- Price
- $915,000
- Cash to close
- $256,200
- Price per unit
- $228,750
- GRM
- 12.5
Each month
- Cash flow
- −$1,181/mo
- Cash-on-cash
- −5.5%
- Cap rate
- 4.4%
- DSCR
- 0.74×
Break-even
- Price that breaks even
- $678,393
- Rent that breaks even
- $7,653/mo
Long run
- Year 30: property vs stocks
- $2.57M vs $2.45M
- Cash flow turns positive
- year 12
The deal
- Price
- $915,000
- Cash to close
- $256,200
- Price per unit
- $228,750
- GRM
- 12.5
Each month
- Cash flow
- −$1,697/mo
- Cash-on-cash
- −7.9%
- Cap rate
- 3.8%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $574,970
- Rent that breaks even
- $8,612/mo
Long run
- Year 30: property vs stocks
- $2.26M vs $2.95M
- Cash flow turns positive
- year 19
Monthly
Monthly breakdown
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Net operating income | $3,385 |
| Mortgage (principal + interest) | −$5,539 |
| PMI | −$520 |
| Cash flow | −$2,674 |
| Principal paid down (equity, not cash) | $705 |
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Property management | −$516 |
| Net operating income | $2,869 |
| Mortgage (principal + interest) | −$5,539 |
| PMI | −$520 |
| Cash flow | −$3,190 |
| Principal paid down (equity, not cash) | $705 |
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Net operating income | $3,385 |
| Mortgage (principal + interest) | −$5,479 |
| PMI | −$515 |
| Cash flow | −$2,608 |
| Principal paid down (equity, not cash) | $697 |
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Property management | −$516 |
| Net operating income | $2,869 |
| Mortgage (principal + interest) | −$5,479 |
| PMI | −$515 |
| Cash flow | −$3,124 |
| Principal paid down (equity, not cash) | $697 |
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Net operating income | $3,385 |
| Mortgage (principal + interest) | −$4,923 |
| Cash flow | −$1,538 |
| Principal paid down (equity, not cash) | $626 |
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Property management | −$516 |
| Net operating income | $2,869 |
| Mortgage (principal + interest) | −$4,923 |
| Cash flow | −$2,054 |
| Principal paid down (equity, not cash) | $626 |
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Net operating income | $3,385 |
| Mortgage (principal + interest) | −$4,870 |
| Cash flow | −$1,485 |
| Principal paid down (equity, not cash) | $620 |
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Property management | −$516 |
| Net operating income | $2,869 |
| Mortgage (principal + interest) | −$4,870 |
| Cash flow | −$2,001 |
| Principal paid down (equity, not cash) | $620 |
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Net operating income | $3,385 |
| Mortgage (principal + interest) | −$4,616 |
| Cash flow | −$1,231 |
| Principal paid down (equity, not cash) | $587 |
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Property management | −$516 |
| Net operating income | $2,869 |
| Mortgage (principal + interest) | −$4,616 |
| Cash flow | −$1,747 |
| Principal paid down (equity, not cash) | $587 |
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Net operating income | $3,385 |
| Mortgage (principal + interest) | −$4,566 |
| Cash flow | −$1,181 |
| Principal paid down (equity, not cash) | $581 |
| Rent | $6,100 |
| Vacancy (6%) | −$366 |
| Collected | $5,734 |
| Property tax Listing | −$412 |
| Insurance Estimate | −$439 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (9% of rent) | −$549 |
| Capital reserve (9% of rent) | −$549 |
| Property management | −$516 |
| Net operating income | $2,869 |
| Mortgage (principal + interest) | −$4,566 |
| Cash flow | −$1,697 |
| Principal paid down (equity, not cash) | $581 |
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
- Your equity when you sell
- $2,110,505
- Rental profits, invested at 7%
- $177,400
Sells for $2,245,218 (value up 3% a year), minus 6% selling cost ($134,713). Rent paid down $832,500 of loan.
$139,397 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $915,374
- Monthly shortfalls, invested
- $1,466,408
$120,250 put into an index fund instead of the down payment and closing costs.
$286,512 you'd have paid in while the building lost money, invested instead.
Stocks come out $93,878 ahead after 30 years.
- Your equity when you sell
- $2,110,505
- Rental profits, invested at 7%
- $29,566
Sells for $2,245,218 (value up 3% a year), minus 6% selling cost ($134,713). Rent paid down $832,500 of loan.
$27,015 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $915,374
- Monthly shortfalls, invested
- $2,121,305
$120,250 put into an index fund instead of the down payment and closing costs.
$468,752 you'd have paid in while the building lost money, invested instead.
Stocks come out $896,607 ahead after 30 years.
- Your equity when you sell
- $2,087,688
- Rental profits, invested at 7%
- $190,253
Sells for $2,220,945 (value up 3% a year), minus 6% selling cost ($133,257). Rent paid down $823,500 of loan.
$148,019 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $905,478
- Monthly shortfalls, invested
- $1,409,648
$118,950 put into an index fund instead of the down payment and closing costs.
$273,309 you'd have paid in while the building lost money, invested instead.
Stocks come out $37,185 ahead after 30 years.
- Your equity when you sell
- $2,087,688
- Rental profits, invested at 7%
- $34,369
Sells for $2,220,945 (value up 3% a year), minus 6% selling cost ($133,257). Rent paid down $823,500 of loan.
$31,086 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $905,478
- Monthly shortfalls, invested
- $2,056,494
$118,950 put into an index fund instead of the down payment and closing costs.
$450,997 you'd have paid in while the building lost money, invested instead.
Stocks come out $839,915 ahead after 30 years.
- Your equity when you sell
- $2,110,505
- Rental profits, invested at 7%
- $341,324
Sells for $2,245,218 (value up 3% a year), minus 6% selling cost ($134,713). Rent paid down $740,000 of loan.
$241,325 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,619,507
- Monthly shortfalls, invested
- $771,762
$212,750 put into an index fund instead of the down payment and closing costs.
$141,919 you'd have paid in while the building lost money, invested instead.
The building comes out $60,559 ahead after 30 years.
- Your equity when you sell
- $2,110,505
- Rental profits, invested at 7%
- $100,021
Sells for $2,245,218 (value up 3% a year), minus 6% selling cost ($134,713). Rent paid down $740,000 of loan.
$82,436 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,619,507
- Monthly shortfalls, invested
- $1,333,189
$212,750 put into an index fund instead of the down payment and closing costs.
$277,651 you'd have paid in while the building lost money, invested instead.
Stocks come out $742,170 ahead after 30 years.
- Your equity when you sell
- $2,087,688
- Rental profits, invested at 7%
- $359,136
Sells for $2,220,945 (value up 3% a year), minus 6% selling cost ($133,257). Rent paid down $732,000 of loan.
$251,544 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,601,999
- Monthly shortfalls, invested
- $729,242
$210,450 put into an index fund instead of the down payment and closing costs.
$132,978 you'd have paid in while the building lost money, invested instead.
The building comes out $115,583 ahead after 30 years.
- Your equity when you sell
- $2,087,688
- Rental profits, invested at 7%
- $108,845
Sells for $2,220,945 (value up 3% a year), minus 6% selling cost ($133,257). Rent paid down $732,000 of loan.
$88,823 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,601,999
- Monthly shortfalls, invested
- $1,281,682
$210,450 put into an index fund instead of the down payment and closing costs.
$264,878 you'd have paid in while the building lost money, invested instead.
Stocks come out $687,147 ahead after 30 years.
- Your equity when you sell
- $2,110,505
- Rental profits, invested at 7%
- $456,605
Sells for $2,245,218 (value up 3% a year), minus 6% selling cost ($134,713). Rent paid down $693,750 of loan.
$304,485 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,971,574
- Monthly shortfalls, invested
- $538,253
$259,000 put into an index fund instead of the down payment and closing costs.
$94,306 you'd have paid in while the building lost money, invested instead.
The building comes out $57,282 ahead after 30 years.
- Your equity when you sell
- $2,110,505
- Rental profits, invested at 7%
- $157,735
Sells for $2,245,218 (value up 3% a year), minus 6% selling cost ($134,713). Rent paid down $693,750 of loan.
$122,702 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,971,574
- Monthly shortfalls, invested
- $1,042,113
$259,000 put into an index fund instead of the down payment and closing costs.
$207,145 you'd have paid in while the building lost money, invested instead.
Stocks come out $745,447 ahead after 30 years.
- Your equity when you sell
- $2,087,688
- Rental profits, invested at 7%
- $477,988
Sells for $2,220,945 (value up 3% a year), minus 6% selling cost ($133,257). Rent paid down $686,250 of loan.
$315,566 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,950,260
- Monthly shortfalls, invested
- $503,075
$256,200 put into an index fund instead of the down payment and closing costs.
$87,425 you'd have paid in while the building lost money, invested instead.
The building comes out $112,341 ahead after 30 years.
- Your equity when you sell
- $2,087,688
- Rental profits, invested at 7%
- $168,446
Sells for $2,220,945 (value up 3% a year), minus 6% selling cost ($133,257). Rent paid down $686,250 of loan.
$129,887 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,950,260
- Monthly shortfalls, invested
- $996,264
$256,200 put into an index fund instead of the down payment and closing costs.
$196,367 you'd have paid in while the building lost money, invested instead.
Stocks come out $690,389 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
Year 30 (loan paid off): property $2.29M, stocks $2.38M. Stocks win.
Year 30 (loan paid off): property $2.14M, stocks $3.04M. Stocks win.
Year 30 (loan paid off): property $2.28M, stocks $2.32M. Stocks win.
Year 30 (loan paid off): property $2.12M, stocks $2.96M. Stocks win.
Year 30 (loan paid off): property $2.45M, stocks $2.39M. The property wins.
Year 30 (loan paid off): property $2.21M, stocks $2.95M. Stocks win.
Year 30 (loan paid off): property $2.45M, stocks $2.33M. The property wins.
Year 30 (loan paid off): property $2.20M, stocks $2.88M. Stocks win.
Year 30 (loan paid off): property $2.57M, stocks $2.51M. The property wins.
Year 30 (loan paid off): property $2.27M, stocks $3.01M. Stocks win.
Year 30 (loan paid off): property $2.57M, stocks $2.45M. The property wins.
Year 30 (loan paid off): property $2.26M, stocks $2.95M. 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 $1,350–$1,775 · 17 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 640 Dayton Ave, Saint Paul | $1,900 | 2 / 1 | 0.1 mi |
| 655 Selby Ave, Saint Paul | $1,300 | 2 / 1 | 0.2 mi |
| 400 Selby Ave, Saint Paul | $1,802 | 2 / 2 | 0.3 mi |
| 651-655 Portland Ave, Saint Paul | $1,449 | 2 / 1 | 0.4 mi |
| 755 Selby Ave, Saint Paul | $1,500 | 2 / 1 | 0.4 mi |
| 204 Western Ave N, Saint Paul | $1,275 | 2 / 1 | 0.4 mi |
| 826 Selby Ave Apt 2, Saint Paul | $1,700 | 2 / 1 | 0.6 mi |
| 627 Aurora Ave W, Saint Paul | $1,300 | 2 / 1 | 0.6 mi |
| 228 Victoria St N Apt 2, Saint Paul | $1,695 | 2 / 1 | 0.6 mi |
| 874 Selby Ave Apt 3, Saint Paul | $1,250 | 2 / 1 | 0.6 mi |
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
- highCondominium structure: units may be separately owned or titled. Confirm you would own all four, and what HOA or association rules apply. Listing says: The property's condominium structure also creates potential future upside for individual unit sales. · AI review
- highDescription claims strong cash flow, but our underwriting shows heavy negative cash flow at ask. Based on: data: underwriting.cash_flow_monthly · 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 197 KENT ST
- mediumAsking is $289,006 above the price where cash flow breaks even ($635,994) at the default scenario. Based on: Derived: price $925,000 vs. break-even $635,994
- mediumRental license is only Pending, and the listing gives no rents or tax figures to check against. Based on: data: city.rental_license · AI review
- mediumSt. Paul rent cap limits increases on sitting long-term tenants, so you cannot quickly close the gap. Listing says: Occupied with long-term tenants and a strong rental history. · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 104 days on market
- Long time on market gives negotiating leverage. Based on: data: listing.days_on_market · AI review
- Tenants pay their own gas and electric, and the units are separately metered, keeping owner costs low. Listing says: Each unit is individually metered with tenants paying their own gas and electric, keeping operating costs lean. · AI review
- Each unit has an assigned garage stall, which supports rents and retention. Listing says: All four units an assigned garage stall. · AI review
Questions for the agent
- Is this one deed for the whole building, or four condo units? Will I own all four, and is there an HOA or association with dues?
- Can I see the rent roll, leases and 12 months of expenses, including taxes and insurance?
- What are the tax bill and any special assessments?
- When was the roof replaced, and which unit's kitchens and baths were updated? Are there permits?
- Why is the rental license pending, and has the city inspected the building?
- Is the seller open to a price near the break-even level after 104 days?
Bottom line
Lovely building in a prime spot, but at $925K it loses about $1,500 a month on our numbers and needs a much lower price. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2025. 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. | $4,946 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $5,266 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $340 |
| 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 1889: +1 pt capital reserve; 8 bedrooms: +1 pt repairs for wear | 9% / 9% |
Price history Realtor.com
On the market since 2026-06-23 (104 days); down $70,000 (7.0%) from the first ask of $995,000.
| Date | Event | Price |
|---|---|---|
| Price changed | $925,000 | |
| Relisted | $995,000 | |
| Removed | — | |
| Listed | $995,000 |
From the listing Listing
| Listed as | four plex |
| Property tax, 2025 | $4,946 |
| County | Ramsey |
| Parcel number | 012823220284 |
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)
Residential 3+ Units: 4 unit(s), B, status pending, renews 2026-09-06.
Nearest highway
I 94, about 496 m away.
Crime in Summit – University
1,066 incidents in the last 12 months (59 per 1,000 residents), −13% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.