261 Robie St W

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,872 sq ft

Saint Paul, MN · West Side (Cherokee Heights, District del Sol) · View the listing ↗

29 photos

Photos courtesy of Dwell Realty Group - Broker, via Realtor.com.

Asking price: $319,000
Monthly cash flow: −$158
Estimated rent: $3,150/mo
Break-even price: $289,382

Adjust the numbers See the full breakdown

First look

This is a 1946 up/down duplex with two 2-bed/1-bath units, priced at $319K. Our underwriting at the asking price with 20% down shows about -$158/month and a 5.8% cap rate, and break-even is near $289K, so it doesn't work at today's rates unless the price drops. The listing gives no rents, no lease info and no utility details, so the rent estimate (about $1,575 per unit) is all we have. The photos show a tidy, updated-looking main unit, but the basement panels and the radiator heat deserve a close look. It's worth a showing only if you're an owner-occupant who values the vacant main floor, or if the seller will come down toward $290K.

Things to consider

Cash flow is negative at the ask Our underwriting shows about -$158/month and break-even near $289K. The price needs to come down or you need a large owner-occupant benefit.
Rent income is unverified There are no stated rents. Our estimate of about $1,575 per unit is a guess until you see a lease and the rent roll.
Seller's homestead tax understates your bill An investor pays the non-homestead rate, which is higher than the $4,865 shown, and we underwrite with the higher estimate.
Price has risen well above the last sale The seller paid $275K in 2022 and is asking $319K. Check what was improved and whether it supports the gap.
Rent growth is limited in St. Paul Sitting tenants are capped at 3% a year, so the vacant unit is where you can reset rent.

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: $319,000
Cash to close: $73,370
Price per unit: $159,500
GRM: 8.4

Each month

Cash flow: −$158/mo
Cash-on-cash: −2.6%
Cap rate: 5.8%
DSCR: 0.91×

Break-even

Price that breaks even: $289,382
Rent that breaks even: $3,352/mo

Long run

Year 30: property vs stocks: $1.14M vs $589K
Cash flow turns positive: year 5

Monthly

Monthly breakdown

Rent	$3,150
Vacancy (6%)	−$189
Collected	$2,961
Property tax Estimate	−$498
Insurance Estimate	−$189
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$252
Capital reserve (8% of rent)	−$252
Net operating income	$1,540
Mortgage (principal + interest)	−$1,698
Cash flow	−$158
Principal paid down (equity, not cash)	$216

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$1,144,880

Your equity when you sell: $727,839
Rental profits, invested at 7%: $417,042

Same money in stocks$588,746

Cash to close, invested at 7%: $558,511
Monthly shortfalls, invested: $30,235

The building comes out $556,134 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 $1.14M, stocks $589K. The property wins.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.

2 bed / 1 bath estimate $1,575/mo · range $1,350–$1,775

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
201 Goodrich Ave, Saint Paul 55102 off market	$1,550	2 / 1	1,500	0.8 mi	2026-05-06	94%
554 Bellows St, Apt 11, Saint Paul 55107	$1,075	2 / 1	—	0.2 mi	2026-10-02	94%
554 Bellows St, Saint Paul 55107	$1,075	2 / 1	—	0.2 mi	2025-06-23	94%
352 Morton St W, Unit Upper, Saint Paul 55107 off market	$1,600	2 / 1	1,350	0.4 mi	2022-05-25	93%
272 George St W, Saint Paul 55107 off market	$1,250	2 / 1	1,250	0.1 mi	2026-03-18	92%
271 W Sturgis St, Saint Paul 55102 off market	$1,731	2 / 1	1,250	0.9 mi	2026-09-28	91%
275 W Sturgis St, Saint Paul 55102 off market	$1,590	2 / 1	1,200	0.9 mi	2026-09-08	90%
273 W Sturgis St, Saint Paul 55102 off market	$1,590	2 / 1	1,200	0.9 mi	2026-03-09	90%
25 Delos St W, Unit B, Saint Paul 55107 off market	$1,695	2 / 1	1,100	0.6 mi	2023-07-11	89%
527 Hall Ave, Apt 1, Saint Paul 55107 off market	$1,550	2 / 1	1,050	0.5 mi	2025-06-02	89%

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. 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 072822210026: homestead=Y
mediumDescription gives no rents, lease terms or utility split for the occupied unit, so income is unverified. Listing says: generating rental income from the other · AI review
mediumPhotos show radiators, but county data lists central heat. Heat type, number of boilers and who pays are unclear. Based on: photo 3 · AI review
low$432 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 072822210026: special assessments (payable 2026) = $432.50
lowRental license is only pending, so confirm the two-unit license is issued and in good standing. Based on: data: city.rental_license · AI review

Opportunities

Owner-occupant angle: the main floor is vacant, so you can live in one unit and rent the other, or set a fresh rent on the vacant unit. Listing says: The main-floor unit is currently vacant and ready for an owner occupant · AI review
Attached two-car garage could bring in extra income or be a selling point to tenants. Listing says: plus an attached two-car garage · AI review

Questions for the agent

What is the upper unit's current rent, lease end date and security deposit, and is there a signed lease?
Is heat a boiler or central forced air? Is there one system or two, and who pays for heat, water and trash?
What are the $432 in special assessments for, and are they paid off at closing?
How old are the roof, the boiler or furnace, the water heater and the electrical panels?
Will the rental license be issued before closing, and were there any code violations?
Why is the seller selling, and is there any flexibility on price?

Bottom line

Clean, updated-looking up/down that loses money at $319K as a pure rental; it only works as an owner-occupant buy or at a price nearer $290K. 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. $284,800 market value × 2.10% (median for non-homestead duplexes/triplexes in the city).	$5,973
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,268
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 2026-09-30 (5 days); last sold for $275,000 on 2022-07-01.

Date	Event	Price
2026-09-30	Listed	$319,000
2022-07-01	Sold	$275,000
2022-05-19	Price changed	$285,000
2022-04-29	Listed	$300,000
2015-09-17	Removed	$249,900
2009-02-13	Sold public record	$125,000
2006-01-01	Sold public record	$245,000
2005-01-19	Listed	$249,900
2001-08-31	Sold public record	$174,000
1998-01-23	Sold public record	$80,000

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1946
Market value (2026)	$284,800
Property tax, payable 2026	$4,866
Special assessments	$432
Homestead	yes
Last sale	2022-07-01 · $275,000

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), A, status pending, renews 2027-03-01.

Nearest highway

CH 37, about 1013 m away.

Crime in West Side

708 incidents in the last 12 months (45 per 1,000 residents), −17% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.