380 Larpenteur Ave E
Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,664 sq ft
Saint Paul, MN · Payne – Phalen (Railroad Island) · View the listing ↗
Photos courtesy of Keller Williams Premier Realty, via Realtor.com.
- Asking price
- $315,000 2 units · $158K per unit
- Monthly cash flow
- −$711 at 20% down, 7%
- Break-even price
- $181,371 where cash flow hits $0
First look
This is a 1969 up/down split-level duplex asking $315K, and the numbers don't work. Our underwriting shows about -$711/month at 20% down, a 3.7% cap rate, and a break-even price near $181K. The description gives no rents, only that Unit 1 is county-assisted and Unit 2 is remodeled, so get the rent roll and leases first. Also check the rental license, since the city has none on file. The garage rental and the shared driveway are worth a look, but at this price I'd only tour it if the seller is far more flexible.
Things to consider
- Price is far above what the rents support At $315K the model shows negative cash flow and a 3.7% cap rate. Break-even is about $133K lower.
- Rents are unstated and one unit is subsidized Without a rent roll you can't verify income. Subsidized rent is dependable but follows program limits and inspections.Listing says: “Unit 1 is county-assisted with payment delivered direct.”
- Rental license and assessments need checking No rental certificate is on file and there are $572 in assessments. Either could add cost or delay.
- Remodel claims apply only to Unit 2 Unit 1 may be dated, and photos show older bathroom finishes. Budget for updates before expecting higher rents.From photo 2
- Garage and parking give some upside Extra parking, a five-car rear lot and garage bays could add modest income, but the amounts are small next to the cash flow gap.Listing says: “room for five cars and an oversized two-car garage”
From the photos
Based on 3 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Condition and repairs
- doneUnit 2 fully remodeled: new windows, tile, new cabinetryListing says: Unit 2 has been fully remodeled - new windows, durable tile from kitchen through hallway, new cabinetry
- doneFresh paint and carpet at each turnoverListing says: fresh paint and carpet at every turnover
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
- $315,000
- Cash to close
- $40,950
- Price per unit
- $157,500
- GRM
- 10.7
Each month
- Cash flow
- −$1,098/mo
- Cash-on-cash
- −32.2%
- Cap rate
- 3.7%
- DSCR
- 0.47×
Break-even
- Price that breaks even
- $147,374
- Rent that breaks even
- $3,858/mo
Long run
- Year 30: property vs stocks
- $719K vs $1.09M
- Cash flow turns positive
- year 29
The deal
- Price
- $315,000
- Cash to close
- $40,950
- Price per unit
- $157,500
- GRM
- 10.7
Each month
- Cash flow
- −$1,305/mo
- Cash-on-cash
- −38.2%
- Cap rate
- 2.9%
- DSCR
- 0.37×
Break-even
- Price that breaks even
- $115,731
- Rent that breaks even
- $4,327/mo
Long run
- Year 30: property vs stocks
- $719K vs $1.41M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $305,000
- Cash to close
- $39,650
- Price per unit
- $152,500
- GRM
- 10.4
Each month
- Cash flow
- −$1,032/mo
- Cash-on-cash
- −31.2%
- Cap rate
- 3.8%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $147,374
- Rent that breaks even
- $3,774/mo
Long run
- Year 30: property vs stocks
- $698K vs $1.01M
- Cash flow turns positive
- year 28
The deal
- Price
- $305,000
- Cash to close
- $39,650
- Price per unit
- $152,500
- GRM
- 10.4
Each month
- Cash flow
- −$1,240/mo
- Cash-on-cash
- −37.5%
- Cap rate
- 3.0%
- DSCR
- 0.38×
Break-even
- Price that breaks even
- $115,731
- Rent that breaks even
- $4,233/mo
Long run
- Year 30: property vs stocks
- $696K vs $1.33M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $315,000
- Cash to close
- $72,450
- Price per unit
- $157,500
- GRM
- 10.7
Each month
- Cash flow
- −$711/mo
- Cash-on-cash
- −11.8%
- Cap rate
- 3.7%
- DSCR
- 0.58×
Break-even
- Price that breaks even
- $181,371
- Rent that breaks even
- $3,362/mo
Long run
- Year 30: property vs stocks
- $731K vs $1.05M
- Cash flow turns positive
- year 24
The deal
- Price
- $315,000
- Cash to close
- $72,450
- Price per unit
- $157,500
- GRM
- 10.7
Each month
- Cash flow
- −$918/mo
- Cash-on-cash
- −15.2%
- Cap rate
- 2.9%
- DSCR
- 0.45×
Break-even
- Price that breaks even
- $142,429
- Rent that breaks even
- $3,771/mo
Long run
- Year 30: property vs stocks
- $719K vs $1.36M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $305,000
- Cash to close
- $70,150
- Price per unit
- $152,500
- GRM
- 10.4
Each month
- Cash flow
- −$658/mo
- Cash-on-cash
- −11.3%
- Cap rate
- 3.8%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $181,371
- Rent that breaks even
- $3,294/mo
Long run
- Year 30: property vs stocks
- $715K vs $978K
- Cash flow turns positive
- year 23
The deal
- Price
- $305,000
- Cash to close
- $70,150
- Price per unit
- $152,500
- GRM
- 10.4
Each month
- Cash flow
- −$865/mo
- Cash-on-cash
- −14.8%
- Cap rate
- 3.0%
- DSCR
- 0.47×
Break-even
- Price that breaks even
- $142,429
- Rent that breaks even
- $3,694/mo
Long run
- Year 30: property vs stocks
- $696K vs $1.28M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $315,000
- Cash to close
- $88,200
- Price per unit
- $157,500
- GRM
- 10.7
Each month
- Cash flow
- −$606/mo
- Cash-on-cash
- −8.3%
- Cap rate
- 3.7%
- DSCR
- 0.61×
Break-even
- Price that breaks even
- $193,463
- Rent that breaks even
- $3,227/mo
Long run
- Year 30: property vs stocks
- $744K vs $1.06M
- Cash flow turns positive
- year 22
The deal
- Price
- $315,000
- Cash to close
- $88,200
- Price per unit
- $157,500
- GRM
- 10.7
Each month
- Cash flow
- −$814/mo
- Cash-on-cash
- −11.1%
- Cap rate
- 2.9%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $151,924
- Rent that breaks even
- $3,620/mo
Long run
- Year 30: property vs stocks
- $719K vs $1.36M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $305,000
- Cash to close
- $85,400
- Price per unit
- $152,500
- GRM
- 10.4
Each month
- Cash flow
- −$557/mo
- Cash-on-cash
- −7.8%
- Cap rate
- 3.8%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $193,463
- Rent that breaks even
- $3,164/mo
Long run
- Year 30: property vs stocks
- $730K vs $995K
- Cash flow turns positive
- year 20
The deal
- Price
- $305,000
- Cash to close
- $85,400
- Price per unit
- $152,500
- GRM
- 10.4
Each month
- Cash flow
- −$764/mo
- Cash-on-cash
- −10.7%
- Cap rate
- 3.0%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $151,924
- Rent that breaks even
- $3,548/mo
Long run
- Year 30: property vs stocks
- $696K vs $1.28M
- Cash flow turns positive
- not within 30 years
Monthly
Monthly breakdown
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Net operating income | $965 |
| Mortgage (principal + interest) | −$1,886 |
| PMI | −$177 |
| Cash flow | −$1,098 |
| Principal paid down (equity, not cash) | $240 |
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Property management | −$207 |
| Net operating income | $758 |
| Mortgage (principal + interest) | −$1,886 |
| PMI | −$177 |
| Cash flow | −$1,305 |
| Principal paid down (equity, not cash) | $240 |
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Net operating income | $965 |
| Mortgage (principal + interest) | −$1,826 |
| PMI | −$172 |
| Cash flow | −$1,032 |
| Principal paid down (equity, not cash) | $232 |
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Property management | −$207 |
| Net operating income | $758 |
| Mortgage (principal + interest) | −$1,826 |
| PMI | −$172 |
| Cash flow | −$1,240 |
| Principal paid down (equity, not cash) | $232 |
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Net operating income | $965 |
| Mortgage (principal + interest) | −$1,677 |
| Cash flow | −$711 |
| Principal paid down (equity, not cash) | $213 |
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Property management | −$207 |
| Net operating income | $758 |
| Mortgage (principal + interest) | −$1,677 |
| Cash flow | −$918 |
| Principal paid down (equity, not cash) | $213 |
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Net operating income | $965 |
| Mortgage (principal + interest) | −$1,623 |
| Cash flow | −$658 |
| Principal paid down (equity, not cash) | $207 |
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Property management | −$207 |
| Net operating income | $758 |
| Mortgage (principal + interest) | −$1,623 |
| Cash flow | −$865 |
| Principal paid down (equity, not cash) | $207 |
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Net operating income | $965 |
| Mortgage (principal + interest) | −$1,572 |
| Cash flow | −$606 |
| Principal paid down (equity, not cash) | $200 |
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Property management | −$207 |
| Net operating income | $758 |
| Mortgage (principal + interest) | −$1,572 |
| Cash flow | −$814 |
| Principal paid down (equity, not cash) | $200 |
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Net operating income | $965 |
| Mortgage (principal + interest) | −$1,522 |
| Cash flow | −$557 |
| Principal paid down (equity, not cash) | $194 |
| Rent | $2,450 |
| Vacancy (6%) | −$147 |
| Collected | $2,303 |
| Property tax Public record | −$531 |
| Insurance Estimate | −$185 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$196 |
| Capital reserve (8% of rent) | −$196 |
| Property management | −$207 |
| Net operating income | $758 |
| Mortgage (principal + interest) | −$1,522 |
| Cash flow | −$764 |
| Principal paid down (equity, not cash) | $194 |
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
- $718,713
- Rental profits, invested at 7%
- $739
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $283,500 of loan.
$732 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $311,722
- Monthly shortfalls, invested
- $779,059
$40,950 put into an index fund instead of the down payment and closing costs.
$183,059 you'd have paid in while the building lost money, invested instead.
Stocks come out $371,329 ahead after 30 years.
- Your equity when you sell
- $718,713
- Rental profits, invested at 7%
- $0
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $283,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $311,722
- Monthly shortfalls, invested
- $1,100,728
$40,950 put into an index fund instead of the down payment and closing costs.
$300,658 you'd have paid in while the building lost money, invested instead.
Stocks come out $693,737 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $2,565
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $274,500 of loan.
$2,465 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $301,826
- Monthly shortfalls, invested
- $711,271
$39,650 put into an index fund instead of the down payment and closing costs.
$162,965 you'd have paid in while the building lost money, invested instead.
Stocks come out $314,636 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $0
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $274,500 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $301,826
- Monthly shortfalls, invested
- $1,031,115
$39,650 put into an index fund instead of the down payment and closing costs.
$278,832 you'd have paid in while the building lost money, invested instead.
Stocks come out $637,044 ahead after 30 years.
- Your equity when you sell
- $718,713
- Rental profits, invested at 7%
- $12,666
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $252,000 of loan.
$11,202 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $551,508
- Monthly shortfalls, invested
- $498,608
$72,450 put into an index fund instead of the down payment and closing costs.
$109,578 you'd have paid in while the building lost money, invested instead.
Stocks come out $318,737 ahead after 30 years.
- Your equity when you sell
- $718,713
- Rental profits, invested at 7%
- $0
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $252,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $551,508
- Monthly shortfalls, invested
- $808,350
$72,450 put into an index fund instead of the down payment and closing costs.
$216,708 you'd have paid in while the building lost money, invested instead.
Stocks come out $641,145 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $18,630
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $244,000 of loan.
$15,944 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $534,000
- Monthly shortfalls, invested
- $444,240
$70,150 put into an index fund instead of the down payment and closing costs.
$95,160 you'd have paid in while the building lost money, invested instead.
Stocks come out $263,714 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $0
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $244,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $534,000
- Monthly shortfalls, invested
- $748,018
$70,150 put into an index fund instead of the down payment and closing costs.
$197,547 you'd have paid in while the building lost money, invested instead.
Stocks come out $586,122 ahead after 30 years.
- Your equity when you sell
- $718,713
- Rental profits, invested at 7%
- $25,714
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $236,250 of loan.
$21,323 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $671,401
- Monthly shortfalls, invested
- $392,879
$88,200 put into an index fund instead of the down payment and closing costs.
$81,976 you'd have paid in while the building lost money, invested instead.
Stocks come out $319,853 ahead after 30 years.
- Your equity when you sell
- $718,713
- Rental profits, invested at 7%
- $0
Sells for $764,588 (value up 3% a year), minus 6% selling cost ($45,875). Rent paid down $236,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $671,401
- Monthly shortfalls, invested
- $689,573
$88,200 put into an index fund instead of the down payment and closing costs.
$178,985 you'd have paid in while the building lost money, invested instead.
Stocks come out $642,261 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $34,204
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $228,750 of loan.
$27,419 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $650,087
- Monthly shortfalls, invested
- $344,808
$85,400 put into an index fund instead of the down payment and closing costs.
$70,109 you'd have paid in while the building lost money, invested instead.
Stocks come out $264,795 ahead after 30 years.
- Your equity when you sell
- $695,896
- Rental profits, invested at 7%
- $0
Sells for $740,315 (value up 3% a year), minus 6% selling cost ($44,419). Rent paid down $228,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $650,087
- Monthly shortfalls, invested
- $633,012
$85,400 put into an index fund instead of the down payment and closing costs.
$161,022 you'd have paid in while the building lost money, invested instead.
Stocks come out $587,203 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 $719K, stocks $1.09M. Stocks win.
Year 30 (loan paid off): property $719K, stocks $1.41M. Stocks win.
Year 30 (loan paid off): property $698K, stocks $1.01M. Stocks win.
Year 30 (loan paid off): property $696K, stocks $1.33M. Stocks win.
Year 30 (loan paid off): property $731K, stocks $1.05M. Stocks win.
Year 30 (loan paid off): property $719K, stocks $1.36M. Stocks win.
Year 30 (loan paid off): property $715K, stocks $978K. Stocks win.
Year 30 (loan paid off): property $696K, stocks $1.28M. Stocks win.
Year 30 (loan paid off): property $744K, stocks $1.06M. Stocks win.
Year 30 (loan paid off): property $719K, stocks $1.36M. Stocks win.
Year 30 (loan paid off): property $730K, stocks $995K. Stocks win.
Year 30 (loan paid off): property $696K, stocks $1.28M. 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 $1,225/mo · range $1,125–$1,400 · 10 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 321 Larpenteur Ave E, Maplewood | $1,250 | 2 / 1 | 0.1 mi |
| 380 Wheelock Pkwy E, Saint Paul | $1,415 | 2 / 1 | 0.2 mi |
| 1527 Westminster St Apt 312, Saint Paul | $1,050 | 2 / 1 | 0.3 mi |
| 1505 Westminster St, Saint Paul | $1,050 | 2 / 1 | 0.3 mi |
| 1901 Desoto St, Maplewood | $1,595 | 2 / 1 | 0.5 mi |
| 1332 Mississippi St, Saint Paul | $1,260 | 2 / 1 | 0.7 mi |
| 1337 Arkwright St N, Saint Paul | $1,075 | 2 / 1 | 0.7 mi |
| 1337 Arkwright St N Unit 112, Saint Paul | $1,050 | 2 / 1 | 0.7 mi |
| 1337 Arkwright St N Unit 216, Saint Paul | $1,215 | 2 / 1 | 0.7 mi |
| 1337 Arkwright St N Unit 114, Saint Paul | $1,075 | 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 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 380 LARPENTEUR AVE E (dataset last updated mid-2025)
- mediumAsking is $133,629 above the price where cash flow breaks even ($181,371) at the default scenario. Based on: Derived: price $315,000 vs. break-even $181,371
- mediumUnit 1 income is county-assisted, so the rent is tied to program rules and inspections. Ask about the amount and contract terms. Listing says: Unit 1 is county-assisted with payment delivered direct. · 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 202922220011: special assessments (payable 2026) = $572.02
- lowHalf the garage is rented to Unit 2, so it is not extra income and may be part of that unit's rent. Clarify. Listing says: Half the garage currently rents to Unit 2. · AI review
- lowHighway about 360 m away; noise may affect rentability and tenant turnover. Based on: data: highway · AI review
Opportunities
- Rent the garage bays or the lockable shop for storage income. Listing says: rent the garage bays for storage · AI review
- Parking and laundry fees could add income, but they may be limited on existing St. Paul leases. Listing says: charge for off-street parking, charge a laundry access fee · AI review
Questions for the agent
- What are the actual rents, lease dates and security deposits for each unit?
- What are the county assistance amount, contract terms and last inspection result for Unit 1?
- Is the property licensed as a rental, and when was it last inspected?
- What are the $572 special assessments for, and does the seller pay them off at closing?
- How is the garage rented, to whom, and for how much? Is it on a separate meter as stated?
- Who pays heat, water and trash, and what do the utilities cost per year?
Bottom line
A tidy-sounding duplex, but at $315K it loses about $700 a month in our model and only works near $180K. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $6,372 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,216 |
| 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 2026-09-05 (30 days).
| Date | Event | Price |
|---|---|---|
| Listed | $315,000 |
County record Public record
| Recorded as | two family dwelling - up/dwn |
| Living units | 2 |
| Year built | 1969 |
| Market value (2026) | $293,400 |
| Property tax, payable 2026 | $6,372 |
| Special assessments | $572 |
| Homestead | no |
| Last sale | — |
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 35E;US 10, about 364 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.