365 Case Ave
Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,892 sq ft
Saint Paul, MN · Payne – Phalen (Railroad Island) · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $224,900 2 units · $112K per unit
- Monthly cash flow
- −$11 at 20% down, 7%
- Break-even price
- $222,865 where cash flow hits $0
First look
This is a thin-information listing: an up/down duplex, two 2-beds, 'fully occupied', and no rents, lease terms or repair notes. Our numbers show about -$11 a month cash flow at ask with 20% down and a 6.3% cap, which is roughly break-even at today's rates. The price sits just above the $219,778 the seller paid in 2016, and it has been listed 106 days. The photos show a cosmetically refreshed upper unit and a plainer, more worn lower unit, so condition looks uneven. Get the rent roll, lease dates and heating setup before a showing, since 'separate utilities' and 'central' heat in county data sit uneasily with the electric baseboards in the photos. Worth a look, but confirm the rents first.
Things to consider
- Cash flow is negative at ask About -$11 a month at 20% down leaves no cushion for repairs, vacancy or a rate change. Small surprises make it worse, and the break-even price is about $222,865, just under ask.
- Rent growth is capped for sitting tenants St. Paul limits increases to 3% a year, so below-market rents will take years to catch up. Learn current rents first.
- Two units in different condition The upper looks refreshed while the lower looks dated, so rents and turnover costs may differ. Budget updates before assuming both units rent at our estimate.From photo 9
- Special assessments and tax bill $432 in assessments adds to the $4,530 tax bill, and the property is non-homestead. Confirm what they cover and who pays.
- Age of building and unseen systems An 1894 build with no photos of the roof, panel, or heating means large unknown capital costs. Inspection should come early.
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
- $224,900
- Cash to close
- $29,237
- Price per unit
- $112,450
- GRM
- 7.2
Each month
- Cash flow
- −$287/mo
- Cash-on-cash
- −11.8%
- Cap rate
- 6.3%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $181,091
- Rent that breaks even
- $2,973/mo
Long run
- Year 30: property vs stocks
- $794K vs $299K
- Cash flow turns positive
- year 6
The deal
- Price
- $224,900
- Cash to close
- $29,237
- Price per unit
- $112,450
- GRM
- 7.2
Each month
- Cash flow
- −$507/mo
- Cash-on-cash
- −20.8%
- Cap rate
- 5.2%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $147,510
- Rent that breaks even
- $3,340/mo
Long run
- Year 30: property vs stocks
- $601K vs $448K
- Cash flow turns positive
- year 15
The deal
- Price
- $214,900
- Cash to close
- $27,937
- Price per unit
- $107,450
- GRM
- 6.9
Each month
- Cash flow
- −$221/mo
- Cash-on-cash
- −9.5%
- Cap rate
- 6.6%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $181,091
- Rent that breaks even
- $2,888/mo
Long run
- Year 30: property vs stocks
- $819K vs $267K
- Cash flow turns positive
- year 5
The deal
- Price
- $214,900
- Cash to close
- $27,937
- Price per unit
- $107,450
- GRM
- 6.9
Each month
- Cash flow
- −$441/mo
- Cash-on-cash
- −19.0%
- Cap rate
- 5.4%
- DSCR
- 0.69×
Break-even
- Price that breaks even
- $147,510
- Rent that breaks even
- $3,244/mo
Long run
- Year 30: property vs stocks
- $601K vs $391K
- Cash flow turns positive
- year 13
The deal
- Price
- $224,900
- Cash to close
- $51,727
- Price per unit
- $112,450
- GRM
- 7.2
Each month
- Cash flow
- −$11/mo
- Cash-on-cash
- −0.3%
- Cap rate
- 6.3%
- DSCR
- 0.99×
Break-even
- Price that breaks even
- $222,865
- Rent that breaks even
- $2,614/mo
Long run
- Year 30: property vs stocks
- $927K vs $395K
- Cash flow turns positive
- year 2
The deal
- Price
- $224,900
- Cash to close
- $51,727
- Price per unit
- $112,450
- GRM
- 7.2
Each month
- Cash flow
- −$231/mo
- Cash-on-cash
- −5.4%
- Cap rate
- 5.2%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $181,538
- Rent that breaks even
- $2,937/mo
Long run
- Year 30: property vs stocks
- $666K vs $476K
- Cash flow turns positive
- year 10
The deal
- Price
- $214,900
- Cash to close
- $49,427
- Price per unit
- $107,450
- GRM
- 6.9
Each month
- Cash flow
- $42/mo
- Cash-on-cash
- 1.0%
- Cap rate
- 6.6%
- DSCR
- 1.04×
Break-even
- Price that breaks even
- $222,865
- Rent that breaks even
- $2,545/mo
Long run
- Year 30: property vs stocks
- $964K vs $376K
- Cash flow turns positive
- year 1
The deal
- Price
- $214,900
- Cash to close
- $49,427
- Price per unit
- $107,450
- GRM
- 6.9
Each month
- Cash flow
- −$178/mo
- Cash-on-cash
- −4.3%
- Cap rate
- 5.4%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $181,538
- Rent that breaks even
- $2,859/mo
Long run
- Year 30: property vs stocks
- $674K vs $429K
- Cash flow turns positive
- year 8
The deal
- Price
- $224,900
- Cash to close
- $62,972
- Price per unit
- $112,450
- GRM
- 7.2
Each month
- Cash flow
- $64/mo
- Cash-on-cash
- 1.2%
- Cap rate
- 6.3%
- DSCR
- 1.06×
Break-even
- Price that breaks even
- $237,723
- Rent that breaks even
- $2,517/mo
Long run
- Year 30: property vs stocks
- $1.01M vs $479K
- Cash flow turns positive
- year 1
The deal
- Price
- $224,900
- Cash to close
- $62,972
- Price per unit
- $112,450
- GRM
- 7.2
Each month
- Cash flow
- −$156/mo
- Cash-on-cash
- −3.0%
- Cap rate
- 5.2%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $193,641
- Rent that breaks even
- $2,828/mo
Long run
- Year 30: property vs stocks
- $711K vs $522K
- Cash flow turns positive
- year 7
The deal
- Price
- $214,900
- Cash to close
- $60,172
- Price per unit
- $107,450
- GRM
- 6.9
Each month
- Cash flow
- $114/mo
- Cash-on-cash
- 2.3%
- Cap rate
- 6.6%
- DSCR
- 1.11×
Break-even
- Price that breaks even
- $237,723
- Rent that breaks even
- $2,452/mo
Long run
- Year 30: property vs stocks
- $1.04M vs $458K
- Cash flow turns positive
- year 1
The deal
- Price
- $214,900
- Cash to close
- $60,172
- Price per unit
- $107,450
- GRM
- 6.9
Each month
- Cash flow
- −$106/mo
- Cash-on-cash
- −2.1%
- Cap rate
- 5.4%
- DSCR
- 0.90×
Break-even
- Price that breaks even
- $193,641
- Rent that breaks even
- $2,755/mo
Long run
- Year 30: property vs stocks
- $725K vs $480K
- Cash flow turns positive
- year 6
Monthly
Monthly breakdown
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Net operating income | $1,186 |
| Mortgage (principal + interest) | −$1,347 |
| PMI | −$127 |
| Cash flow | −$287 |
| Principal paid down (equity, not cash) | $171 |
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Property management | −$220 |
| Net operating income | $966 |
| Mortgage (principal + interest) | −$1,347 |
| PMI | −$127 |
| Cash flow | −$507 |
| Principal paid down (equity, not cash) | $171 |
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Net operating income | $1,186 |
| Mortgage (principal + interest) | −$1,287 |
| PMI | −$121 |
| Cash flow | −$221 |
| Principal paid down (equity, not cash) | $164 |
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Property management | −$220 |
| Net operating income | $966 |
| Mortgage (principal + interest) | −$1,287 |
| PMI | −$121 |
| Cash flow | −$441 |
| Principal paid down (equity, not cash) | $164 |
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Net operating income | $1,186 |
| Mortgage (principal + interest) | −$1,197 |
| Cash flow | −$11 |
| Principal paid down (equity, not cash) | $152 |
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Property management | −$220 |
| Net operating income | $966 |
| Mortgage (principal + interest) | −$1,197 |
| Cash flow | −$231 |
| Principal paid down (equity, not cash) | $152 |
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Net operating income | $1,186 |
| Mortgage (principal + interest) | −$1,144 |
| Cash flow | $42 |
| Principal paid down (equity, not cash) | $146 |
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Property management | −$220 |
| Net operating income | $966 |
| Mortgage (principal + interest) | −$1,144 |
| Cash flow | −$178 |
| Principal paid down (equity, not cash) | $146 |
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Net operating income | $1,186 |
| Mortgage (principal + interest) | −$1,122 |
| Cash flow | $64 |
| Principal paid down (equity, not cash) | $143 |
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Property management | −$220 |
| Net operating income | $966 |
| Mortgage (principal + interest) | −$1,122 |
| Cash flow | −$156 |
| Principal paid down (equity, not cash) | $143 |
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Net operating income | $1,186 |
| Mortgage (principal + interest) | −$1,072 |
| Cash flow | $114 |
| Principal paid down (equity, not cash) | $136 |
| Rent | $2,600 |
| Vacancy (6%) | −$156 |
| Collected | $2,444 |
| Property tax Public record | −$377 |
| Insurance Estimate | −$208 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$208 |
| Capital reserve (9% of rent) | −$234 |
| Property management | −$220 |
| Net operating income | $966 |
| Mortgage (principal + interest) | −$1,072 |
| Cash flow | −$106 |
| Principal paid down (equity, not cash) | $136 |
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
- $513,138
- Rental profits, invested at 7%
- $281,066
Sells for $545,891 (value up 3% a year), minus 6% selling cost ($32,753). Rent paid down $202,410 of loan.
$158,535 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $222,560
- Monthly shortfalls, invested
- $76,685
$29,237 put into an index fund instead of the down payment and closing costs.
$11,821 you'd have paid in while the building lost money, invested instead.
The building comes out $494,959 ahead after 30 years.
- Your equity when you sell
- $513,138
- Rental profits, invested at 7%
- $87,412
Sells for $545,891 (value up 3% a year), minus 6% selling cost ($32,753). Rent paid down $202,410 of loan.
$61,117 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $222,560
- Monthly shortfalls, invested
- $225,179
$29,237 put into an index fund instead of the down payment and closing costs.
$39,980 you'd have paid in while the building lost money, invested instead.
The building comes out $152,811 ahead after 30 years.
- Your equity when you sell
- $490,322
- Rental profits, invested at 7%
- $328,488
Sells for $521,619 (value up 3% a year), minus 6% selling cost ($31,297). Rent paid down $193,410 of loan.
$176,862 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $212,664
- Monthly shortfalls, invested
- $54,494
$27,937 put into an index fund instead of the down payment and closing costs.
$8,323 you'd have paid in while the building lost money, invested instead.
The building comes out $551,651 ahead after 30 years.
- Your equity when you sell
- $490,322
- Rental profits, invested at 7%
- $110,181
Sells for $521,619 (value up 3% a year), minus 6% selling cost ($31,297). Rent paid down $193,410 of loan.
$73,520 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $212,664
- Monthly shortfalls, invested
- $178,334
$27,937 put into an index fund instead of the down payment and closing costs.
$30,557 you'd have paid in while the building lost money, invested instead.
The building comes out $209,504 ahead after 30 years.
- Your equity when you sell
- $513,138
- Rental profits, invested at 7%
- $414,054
Sells for $545,891 (value up 3% a year), minus 6% selling cost ($32,753). Rent paid down $179,920 of loan.
$206,782 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $393,759
- Monthly shortfalls, invested
- $924
$51,727 put into an index fund instead of the down payment and closing costs.
$130 you'd have paid in while the building lost money, invested instead.
The building comes out $532,508 ahead after 30 years.
- Your equity when you sell
- $513,138
- Rental profits, invested at 7%
- $152,789
Sells for $545,891 (value up 3% a year), minus 6% selling cost ($32,753). Rent paid down $179,920 of loan.
$94,611 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $393,759
- Monthly shortfalls, invested
- $81,807
$51,727 put into an index fund instead of the down payment and closing costs.
$13,536 you'd have paid in while the building lost money, invested instead.
The building comes out $190,360 ahead after 30 years.
- Your equity when you sell
- $490,322
- Rental profits, invested at 7%
- $473,460
Sells for $521,619 (value up 3% a year), minus 6% selling cost ($31,297). Rent paid down $171,920 of loan.
$225,812 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $376,251
$49,427 put into an index fund instead of the down payment and closing costs.
The building comes out $587,531 ahead after 30 years.
- Your equity when you sell
- $490,322
- Rental profits, invested at 7%
- $183,929
Sells for $521,619 (value up 3% a year), minus 6% selling cost ($31,297). Rent paid down $171,920 of loan.
$108,615 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $376,251
- Monthly shortfalls, invested
- $52,616
$49,427 put into an index fund instead of the down payment and closing costs.
$8,379 you'd have paid in while the building lost money, invested instead.
The building comes out $245,383 ahead after 30 years.
- Your equity when you sell
- $513,138
- Rental profits, invested at 7%
- $497,932
Sells for $545,891 (value up 3% a year), minus 6% selling cost ($32,753). Rent paid down $168,675 of loan.
$233,584 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $479,359
$62,972 put into an index fund instead of the down payment and closing costs.
The building comes out $531,711 ahead after 30 years.
- Your equity when you sell
- $513,138
- Rental profits, invested at 7%
- $197,932
Sells for $545,891 (value up 3% a year), minus 6% selling cost ($32,753). Rent paid down $168,675 of loan.
$114,608 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $479,359
- Monthly shortfalls, invested
- $42,147
$62,972 put into an index fund instead of the down payment and closing costs.
$6,599 you'd have paid in while the building lost money, invested instead.
The building comes out $189,564 ahead after 30 years.
- Your equity when you sell
- $490,322
- Rental profits, invested at 7%
- $554,493
Sells for $521,619 (value up 3% a year), minus 6% selling cost ($31,297). Rent paid down $161,175 of loan.
$251,548 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $458,045
$60,172 put into an index fund instead of the down payment and closing costs.
The building comes out $586,769 ahead after 30 years.
- Your equity when you sell
- $490,322
- Rental profits, invested at 7%
- $234,266
Sells for $521,619 (value up 3% a year), minus 6% selling cost ($31,297). Rent paid down $161,175 of loan.
$129,274 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $458,045
- Monthly shortfalls, invested
- $21,921
$60,172 put into an index fund instead of the down payment and closing costs.
$3,302 you'd have paid in while the building lost money, invested instead.
The building comes out $244,623 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 $794K, stocks $299K. The property wins.
Year 30 (loan paid off): property $601K, stocks $448K. The property wins.
Year 30 (loan paid off): property $819K, stocks $267K. The property wins.
Year 30 (loan paid off): property $601K, stocks $391K. The property wins.
Year 30 (loan paid off): property $927K, stocks $395K. The property wins.
Year 30 (loan paid off): property $666K, stocks $476K. The property wins.
Year 30 (loan paid off): property $964K, stocks $376K. The property wins.
Year 30 (loan paid off): property $674K, stocks $429K. The property wins.
Year 30 (loan paid off): property $1.01M, stocks $479K. The property wins.
Year 30 (loan paid off): property $711K, stocks $522K. The property wins.
Year 30 (loan paid off): property $1.04M, stocks $458K. The property wins.
Year 30 (loan paid off): property $725K, stocks $480K. 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 $1,300/mo · range $1,050–$1,500 · 8 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 1039-1041 Arkwright St, Saint Paul | $1,445 | 2 / 1 | 0.2 mi |
| 953 Desoto St, Saint Paul | $950 | 2 / 1 | 0.2 mi |
| 904-906 Burr St, Saint Paul | $999 | 2 / 1 | 0.3 mi |
| 1205 Westminster St, Saint Paul | $1,120 | 2 / 1 | 0.5 mi |
| 1280 Westminster St, Saint Paul | $1,042 | 2 / 1 | 0.6 mi |
| 685 Burr St, Saint Paul | $1,450 | 2 / 1 | 0.6 mi |
| 468 Beaumont St E Unit 4, Saint Paul | $1,350 | 2 / 1 | 0.7 mi |
| 665 Bedford St Unit 2, Saint Paul | $1,400 | 2 / 1 | 0.7 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
- mediumNo rents or lease terms given. 'Fully occupied' tells you nothing about income, lease end dates or whether tenants are month-to-month. Listing says: fully occupied classic duplex in the heart of Payne-Phalen · AI review
- mediumRental license shows status Pending. Confirm the two-unit license is active and the property passed inspection. Based on: data: city.rental_license · 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 292922230154: special assessments (payable 2026) = $432.50
- lowProperty sits about 274 m from a freeway (I-35E / US 10). Expect noise and possibly softer rents. Based on: data: highway · AI review
- lowPrice is barely above the 2016 sale price after 10 years, with 106 days on market. Check why it hasn't sold. Based on: data: listing.days_on_market · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 109 days on market, 1 price cuts
- Long time on market suggests room to negotiate. Our break-even price is well above ask, but cash flow is thin, so push on price. Based on: data: listing.days_on_market · AI review
- Separate utilities means tenants should carry their own bills, keeping owner costs low. Listing says: Two 2-bedroom units with separate utilities. · AI review
- Upper unit looks recently refreshed with new flooring, paint and in-unit laundry, which supports rents near our estimate. Based on: photo 4 · AI review
Questions for the agent
- What are the current rents, lease end dates and are any tenants month-to-month?
- What are the special assessments for, and does the seller pay them at closing?
- How is each unit heated and what are the typical monthly utility bills? Listing says separate utilities.
- Why is the rental license pending, and when was the last city inspection?
- How old are the roof, electrical panel and water heaters, and is the exterior stairway sound?
- Has the price been cut, and what offers has the seller seen in 106 days?
Bottom line
A roughly break-even duplex at ask with no rent information; worth pursuing only after seeing the rent roll. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $4,530 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,500 |
| 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. built 1894: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-06-18 (109 days); down $10,000 (4.3%) from the first ask of $234,900; last sold for $35,000 on 2009-10-06.
| Date | Event | Price |
|---|---|---|
| Price changed | $224,900 | |
| Price changed | $229,000 | |
| Relisted | $234,900 | |
| Removed | — | |
| Removed | $239,900 | |
| Listed | $234,900 | |
| Sold | $35,000 | |
| Listed | $35,000 | |
| Sold public record | $230,000 | |
| Sold public record | $92,000 | |
| Sold public record | $79,000 |
County record Public record
| Recorded as | two family dwelling - up/dwn |
| Living units | 2 |
| Year built | 1894 |
| Market value (2026) | $212,300 |
| Property tax, payable 2026 | $4,530 |
| Special assessments | $432 |
| Homestead | no |
| Last sale | 2016-03-31 · $219,778 |
Source: Ramsey County parcel records.
City rental certificate (CofO)
Residential 2 Units: 2 unit(s), A, status pending, renews 2028-11-02.
Nearest highway
I 35E;US 10, about 274 m away.
Crime in Payne – Phalen
1,695 incidents in the last 12 months (51 per 1,000 residents), −10% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.