274 Lafond Ave
Duplex · 2 units: 3 bed / 1 bath ×2 unit split estimated · 2,359 sq ft
Saint Paul, MN · Frogtown (Thomas-Dale) · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $450,000 2 units · $225K per unit
- Monthly cash flow
- −$38 at 20% down, 7%
- Estimated rent
- $3,900/mo medium confidence
- Break-even price
- $442,824 where cash flow hits $0
First look
This is a 2021 up/down duplex with two 3-bed/1-bath units, in-unit laundry and separate gas and electric meters. It looks clean and move-in ready. The price is the problem. The seller paid $290K in December 2025 and now wants $450K, and our underwriting at asking shows about -$38/month with a 6.3% cap rate. Break-even price is around $443K, so $450K is only roughly $7K too high at today's rates. Before a showing, check the rental license status, what changed since the December sale, and whether the lower-level triplex idea is realistic. It's worth seeing if the seller will move a little on price.
Things to consider
- Price is slightly above what the rents support At $450K the underwriting shows about -$38/month and a 6.3% cap rate. The break-even price is about $443K, so you would be paying roughly $7K over what the income justifies.
- Big price jump since the December 2025 sale A 55% increase in 9 months suggests flip pricing. Ask what work was done, and check that it was permitted.
- Rent estimates are reasonable but leave little cushion Our estimate is about $1,950 per 3-bed unit, around $3,900 total. That covers most of a $450K mortgage, taxes and insurance, but not all of it.
- Rental licensing is unconfirmed No rental certificate shows in city data. You may not be able to legally rent right away, and any extra lower-level unit would need its own approval.
- Newer construction should keep repairs low A 2021 build with new finishes means low near-term capex and likely lower maintenance reserves, which helps the numbers a little and could be enough to cover the small gap.From photo 3
- Triplex potential is speculative Finishing the lower level costs money and needs city sign-off. Don't pay for it in the price.Listing says: “possibility of an additional unit for potential TRIPLEX use”
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
- doneLike-new construction with updated kitchens and bathroomsListing says: this like-new duplex offers an impressive combination of modern style, functionality, and investment potential
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
- $450,000
- Cash to close
- $58,500
- Price per unit
- $225,000
- GRM
- 9.6
Each month
- Cash flow
- −$591/mo
- Cash-on-cash
- −12.1%
- Cap rate
- 6.3%
- DSCR
- 0.80×
Break-even
- Price that breaks even
- $359,819
- Rent that breaks even
- $4,657/mo
Long run
- Year 30: property vs stocks
- $1.65M vs $602K
- Cash flow turns positive
- year 6
The deal
- Price
- $450,000
- Cash to close
- $58,500
- Price per unit
- $225,000
- GRM
- 9.6
Each month
- Cash flow
- −$921/mo
- Cash-on-cash
- −18.9%
- Cap rate
- 5.4%
- DSCR
- 0.69×
Break-even
- Price that breaks even
- $309,448
- Rent that breaks even
- $5,224/mo
Long run
- Year 30: property vs stocks
- $1.34M vs $797K
- Cash flow turns positive
- year 12
The deal
- Price
- $440,000
- Cash to close
- $57,200
- Price per unit
- $220,000
- GRM
- 9.4
Each month
- Cash flow
- −$525/mo
- Cash-on-cash
- −11.0%
- Cap rate
- 6.4%
- DSCR
- 0.82×
Break-even
- Price that breaks even
- $359,819
- Rent that breaks even
- $4,573/mo
Long run
- Year 30: property vs stocks
- $1.68M vs $568K
- Cash flow turns positive
- year 5
The deal
- Price
- $440,000
- Cash to close
- $57,200
- Price per unit
- $220,000
- GRM
- 9.4
Each month
- Cash flow
- −$855/mo
- Cash-on-cash
- −17.9%
- Cap rate
- 5.5%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $309,448
- Rent that breaks even
- $5,130/mo
Long run
- Year 30: property vs stocks
- $1.34M vs $746K
- Cash flow turns positive
- year 11
The deal
- Price
- $450,000
- Cash to close
- $103,500
- Price per unit
- $225,000
- GRM
- 9.6
Each month
- Cash flow
- −$38/mo
- Cash-on-cash
- −0.4%
- Cap rate
- 6.3%
- DSCR
- 0.98×
Break-even
- Price that breaks even
- $442,824
- Rent that breaks even
- $3,949/mo
Long run
- Year 30: property vs stocks
- $1.92M vs $791K
- Cash flow turns positive
- year 2
The deal
- Price
- $450,000
- Cash to close
- $103,500
- Price per unit
- $225,000
- GRM
- 9.6
Each month
- Cash flow
- −$368/mo
- Cash-on-cash
- −4.3%
- Cap rate
- 5.4%
- DSCR
- 0.85×
Break-even
- Price that breaks even
- $380,834
- Rent that breaks even
- $4,429/mo
Long run
- Year 30: property vs stocks
- $1.50M vs $889K
- Cash flow turns positive
- year 7
The deal
- Price
- $440,000
- Cash to close
- $101,200
- Price per unit
- $220,000
- GRM
- 9.4
Each month
- Cash flow
- $15/mo
- Cash-on-cash
- 0.2%
- Cap rate
- 6.4%
- DSCR
- 1.01×
Break-even
- Price that breaks even
- $442,824
- Rent that breaks even
- $3,881/mo
Long run
- Year 30: property vs stocks
- $1.95M vs $770K
- Cash flow turns positive
- year 1
The deal
- Price
- $440,000
- Cash to close
- $101,200
- Price per unit
- $220,000
- GRM
- 9.4
Each month
- Cash flow
- −$315/mo
- Cash-on-cash
- −3.7%
- Cap rate
- 5.5%
- DSCR
- 0.87×
Break-even
- Price that breaks even
- $380,834
- Rent that breaks even
- $4,353/mo
Long run
- Year 30: property vs stocks
- $1.52M vs $848K
- Cash flow turns positive
- year 7
The deal
- Price
- $450,000
- Cash to close
- $126,000
- Price per unit
- $225,000
- GRM
- 9.6
Each month
- Cash flow
- $111/mo
- Cash-on-cash
- 1.1%
- Cap rate
- 6.3%
- DSCR
- 1.05×
Break-even
- Price that breaks even
- $472,346
- Rent that breaks even
- $3,757/mo
Long run
- Year 30: property vs stocks
- $2.08M vs $959K
- Cash flow turns positive
- year 1
The deal
- Price
- $450,000
- Cash to close
- $126,000
- Price per unit
- $225,000
- GRM
- 9.6
Each month
- Cash flow
- −$218/mo
- Cash-on-cash
- −2.1%
- Cap rate
- 5.4%
- DSCR
- 0.90×
Break-even
- Price that breaks even
- $406,222
- Rent that breaks even
- $4,214/mo
Long run
- Year 30: property vs stocks
- $1.61M vs $1.00M
- Cash flow turns positive
- year 5
The deal
- Price
- $440,000
- Cash to close
- $123,200
- Price per unit
- $220,000
- GRM
- 9.4
Each month
- Cash flow
- $161/mo
- Cash-on-cash
- 1.6%
- Cap rate
- 6.4%
- DSCR
- 1.07×
Break-even
- Price that breaks even
- $472,346
- Rent that breaks even
- $3,693/mo
Long run
- Year 30: property vs stocks
- $2.12M vs $938K
- Cash flow turns positive
- year 1
The deal
- Price
- $440,000
- Cash to close
- $123,200
- Price per unit
- $220,000
- GRM
- 9.4
Each month
- Cash flow
- −$169/mo
- Cash-on-cash
- −1.6%
- Cap rate
- 5.5%
- DSCR
- 0.92×
Break-even
- Price that breaks even
- $406,222
- Rent that breaks even
- $4,142/mo
Long run
- Year 30: property vs stocks
- $1.63M vs $965K
- Cash flow turns positive
- year 4
Monthly
Monthly breakdown
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Net operating income | $2,357 |
| Mortgage (principal + interest) | −$2,694 |
| PMI | −$253 |
| Cash flow | −$591 |
| Principal paid down (equity, not cash) | $343 |
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Property management | −$330 |
| Net operating income | $2,027 |
| Mortgage (principal + interest) | −$2,694 |
| PMI | −$253 |
| Cash flow | −$921 |
| Principal paid down (equity, not cash) | $343 |
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Net operating income | $2,357 |
| Mortgage (principal + interest) | −$2,635 |
| PMI | −$248 |
| Cash flow | −$525 |
| Principal paid down (equity, not cash) | $335 |
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Property management | −$330 |
| Net operating income | $2,027 |
| Mortgage (principal + interest) | −$2,635 |
| PMI | −$248 |
| Cash flow | −$855 |
| Principal paid down (equity, not cash) | $335 |
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Net operating income | $2,357 |
| Mortgage (principal + interest) | −$2,395 |
| Cash flow | −$38 |
| Principal paid down (equity, not cash) | $305 |
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Property management | −$330 |
| Net operating income | $2,027 |
| Mortgage (principal + interest) | −$2,395 |
| Cash flow | −$368 |
| Principal paid down (equity, not cash) | $305 |
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Net operating income | $2,357 |
| Mortgage (principal + interest) | −$2,342 |
| Cash flow | $15 |
| Principal paid down (equity, not cash) | $298 |
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Property management | −$330 |
| Net operating income | $2,027 |
| Mortgage (principal + interest) | −$2,342 |
| Cash flow | −$315 |
| Principal paid down (equity, not cash) | $298 |
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Net operating income | $2,357 |
| Mortgage (principal + interest) | −$2,245 |
| Cash flow | $111 |
| Principal paid down (equity, not cash) | $286 |
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Property management | −$330 |
| Net operating income | $2,027 |
| Mortgage (principal + interest) | −$2,245 |
| Cash flow | −$218 |
| Principal paid down (equity, not cash) | $286 |
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Net operating income | $2,357 |
| Mortgage (principal + interest) | −$2,195 |
| Cash flow | $161 |
| Principal paid down (equity, not cash) | $279 |
| Rent | $3,900 |
| Vacancy (6%) | −$234 |
| Collected | $3,666 |
| Property tax Public record | −$256 |
| Insurance Estimate | −$199 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$312 |
| Capital reserve (8% of rent) | −$312 |
| Property management | −$330 |
| Net operating income | $2,027 |
| Mortgage (principal + interest) | −$2,195 |
| Cash flow | −$169 |
| Principal paid down (equity, not cash) | $279 |
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
- Your equity when you sell
- $1,026,732
- Rental profits, invested at 7%
- $626,932
Sells for $1,092,268 (value up 3% a year), minus 6% selling cost ($65,536). Rent paid down $405,000 of loan.
$354,229 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $445,317
- Monthly shortfalls, invested
- $156,463
$58,500 put into an index fund instead of the down payment and closing costs.
$24,100 you'd have paid in while the building lost money, invested instead.
The building comes out $1,051,884 ahead after 30 years.
- Your equity when you sell
- $1,026,732
- Rental profits, invested at 7%
- $308,661
Sells for $1,092,268 (value up 3% a year), minus 6% selling cost ($65,536). Rent paid down $405,000 of loan.
$200,803 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $445,317
- Monthly shortfalls, invested
- $351,413
$58,500 put into an index fund instead of the down payment and closing costs.
$59,038 you'd have paid in while the building lost money, invested instead.
The building comes out $538,663 ahead after 30 years.
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $672,575
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $396,000 of loan.
$372,228 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $435,421
- Monthly shortfalls, invested
- $132,493
$57,200 put into an index fund instead of the down payment and closing costs.
$20,274 you'd have paid in while the building lost money, invested instead.
The building comes out $1,108,577 ahead after 30 years.
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $337,419
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $396,000 of loan.
$214,980 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $435,421
- Monthly shortfalls, invested
- $310,558
$57,200 put into an index fund instead of the down payment and closing costs.
$51,390 you'd have paid in while the building lost money, invested instead.
The building comes out $595,356 ahead after 30 years.
- Your equity when you sell
- $1,026,732
- Rental profits, invested at 7%
- $891,412
Sells for $1,092,268 (value up 3% a year), minus 6% selling cost ($65,536). Rent paid down $360,000 of loan.
$450,516 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $787,868
- Monthly shortfalls, invested
- $3,261
$103,500 put into an index fund instead of the down payment and closing costs.
$458 you'd have paid in while the building lost money, invested instead.
The building comes out $1,127,015 ahead after 30 years.
- Your equity when you sell
- $1,026,732
- Rental profits, invested at 7%
- $475,577
Sells for $1,092,268 (value up 3% a year), minus 6% selling cost ($65,536). Rent paid down $360,000 of loan.
$277,478 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $787,868
- Monthly shortfalls, invested
- $100,646
$103,500 put into an index fund instead of the down payment and closing costs.
$15,784 you'd have paid in while the building lost money, invested instead.
The building comes out $613,795 ahead after 30 years.
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $948,483
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $352,000 of loan.
$469,219 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $770,360
$101,200 put into an index fund instead of the down payment and closing costs.
The building comes out $1,182,039 ahead after 30 years.
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $512,734
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $352,000 of loan.
$292,806 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $770,360
- Monthly shortfalls, invested
- $77,471
$101,200 put into an index fund instead of the down payment and closing costs.
$11,952 you'd have paid in while the building lost money, invested instead.
The building comes out $668,817 ahead after 30 years.
- Your equity when you sell
- $1,026,732
- Rental profits, invested at 7%
- $1,057,833
Sells for $1,092,268 (value up 3% a year), minus 6% selling cost ($65,536). Rent paid down $337,500 of loan.
$503,948 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $959,144
$126,000 put into an index fund instead of the down payment and closing costs.
The building comes out $1,125,421 ahead after 30 years.
- Your equity when you sell
- $1,026,732
- Rental profits, invested at 7%
- $586,610
Sells for $1,092,268 (value up 3% a year), minus 6% selling cost ($65,536). Rent paid down $337,500 of loan.
$321,859 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $959,144
- Monthly shortfalls, invested
- $41,998
$126,000 put into an index fund instead of the down payment and closing costs.
$6,276 you'd have paid in while the building lost money, invested instead.
The building comes out $612,200 ahead after 30 years.
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $1,114,394
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $330,000 of loan.
$521,911 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $937,830
$123,200 put into an index fund instead of the down payment and closing costs.
The building comes out $1,180,480 ahead after 30 years.
- Your equity when you sell
- $1,003,915
- Rental profits, invested at 7%
- $628,321
Sells for $1,067,995 (value up 3% a year), minus 6% selling cost ($64,080). Rent paid down $330,000 of loan.
$337,529 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $937,830
- Monthly shortfalls, invested
- $27,148
$123,200 put into an index fund instead of the down payment and closing costs.
$3,983 you'd have paid in while the building lost money, invested instead.
The building comes out $667,259 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 $1.65M, stocks $602K. The property wins.
Year 30 (loan paid off): property $1.34M, stocks $797K. The property wins.
Year 30 (loan paid off): property $1.68M, stocks $568K. The property wins.
Year 30 (loan paid off): property $1.34M, stocks $746K. The property wins.
Year 30 (loan paid off): property $1.92M, stocks $791K. The property wins.
Year 30 (loan paid off): property $1.50M, stocks $889K. The property wins.
Year 30 (loan paid off): property $1.95M, stocks $770K. The property wins.
Year 30 (loan paid off): property $1.52M, stocks $848K. The property wins.
Year 30 (loan paid off): property $2.08M, stocks $959K. The property wins.
Year 30 (loan paid off): property $1.61M, stocks $1.00M. The property wins.
Year 30 (loan paid off): property $2.12M, stocks $938K. The property wins.
Year 30 (loan paid off): property $1.63M, stocks $965K. 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.
3 bed / 1 bath estimate $1,950/mo · range $1,625–$2,275
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 690 Virginia St, Saint Paul 55103 | $1,500 | 3 / 1 | 0.2 mi | 92% |
| 690 Virginia Ave, Saint Paul 55103 off market | $1,500 | 3 / 1 | 0.2 mi | 92% |
| 220/222 Virginia St, Saint Paul 55102 off market | $2,500 | 3 / 1.5 | 0.9 mi | 90% |
| 610 N Capitol Blvd, Saint Paul 55103 off market | $1,750 | 3 / 1.5 | 0.5 mi | 89% |
| 610 N Capitol Blvd, Unit 3, Saint Paul 55103 | $1,650 | 3 / 1.5 | 0.5 mi | 89% |
| 653 Galtier St, Saint Paul 55103 | $1,750 | 3 / 1.5 | 0.1 mi | 89% |
| 595 Park St, Saint Paul 55103 off market | $1,799 | 3 / 1 | 0.4 mi | 89% |
| 617 Marshall Ave, Unit 1, Saint Paul 55102 off market | $2,290 | 3 / 1 | 1.1 mi | 89% |
| 948 Albemarle St, Apt 1, Saint Paul 55117 off market | $1,600 | 3 / 1 | 0.7 mi | 86% |
| 555-565 N Kent St, Saint Paul 55103 | $1,435 | 3 / 1 | 0.6 mi | 84% |
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
- highAsking price is far above what the rents support; underwriting shows negative cash flow at ask Based on: data: underwriting.cash_flow_monthly · AI review
- mediumNo rental certificate (CofO) on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: St. Paul Certificate of Occupancy – Residential: no record for 274 LAFOND AVE (dataset last updated mid-2025)
- mediumBought for $290,000 in Dec 2025; asking is 55% more 10 months later. Ask what was done to justify the jump. Public record: Ramsey County parcel 362923120222: last sale 2025-12-19, $290,000
- mediumCounty market value is far below the asking price Based on: data: county.market_value · AI review
- mediumTriplex idea depends on city approval and is not income; the listing itself pushes verification onto the buyer Listing says: subject to city approval, zoning, permitting, licensing, and all applicable requirements · 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 362923120222: special assessments (payable 2026) = $432.50
- lowTax bill is low for a $450K ask and may reset after sale; verify the investor (non-homestead) bill Based on: data: county.tax · AI review
Opportunities
- Unfinished lower level with egress windows could become an extra unit if the city allows it Listing says: The unfinished lower level adds exciting future value-add potential, featuring egress windows · AI review
- Separate gas and electric meters mean tenants pay their own usage, keeping owner costs low Listing says: separately metered gas and electric · AI review
- Likely exempt from St. Paul rent control as a post-2004 building, so rents can follow the market Based on: data: underwriting.rent_rule · AI review
- In-unit laundry in both units supports rentability Listing says: convenient in-unit laundry · AI review
Questions for the agent
- What was done to the property since the $290K sale in December 2025, and was it permitted?
- Is the building licensed as a rental, and has it had a CofO inspection?
- Are there tenants now? If so, what are the rents, lease terms and deposits?
- What are the $432 special assessments for, and does the seller pay them off at closing?
- Has the city said anything about a third unit in the lower level, in writing?
- What are the heating and cooling systems and their ages, and are there warranties?
Bottom line
Nice newer duplex, but at $450K it roughly breaks even, about $7K above break-even, so it works with a small price cut. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $3,072 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,390 |
| 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 2026-08-16 (50 days); down $39,000 (8.0%) from the first ask of $489,000; last sold for $290,000 on 2025-12-29.
| Date | Event | Price |
|---|---|---|
| Price changed | $450,000 | |
| Price changed | $469,000 | |
| Price changed | $475,000 | |
| Listed | $489,000 | |
| Sold public record | $290,000 | |
| Sold public record | $23,000 | |
| Removed | $15,000 | |
| Listed | $15,000 |
County record Public record
| Recorded as | two family dwelling - up/dwn |
| Living units | 2 |
| Year built | 2021 |
| Market value (2026) | $252,000 |
| Property tax, payable 2026 | $3,072 |
| Special assessments | $432 |
| Homestead | no |
| Last sale | 2025-12-19 · $290,000 |
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 1026 m away.
Crime in Frogtown
824 incidents in the last 12 months (53 per 1,000 residents), −26% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.