429 5th Ave S

Duplex · 2 units: 2 bed ×2 · 1,442 sq ft

South Saint Paul, MN · View the listing ↗

Overpriced

38 photos

Photos courtesy of Keller Williams Realty, via Realtor.com.

Asking price: $350,000
Monthly cash flow: −$461
Estimated rent: $2,800/mo
Break-even price: $263,437

Adjust the numbers See the full breakdown

From the listing

Turnkey Investor or House-Hack Opportunity Near Roosevelt Field Park! Beautifully maintained up/down duplex located just steps from Roosevelt Field Park, with easy walkability to multiple neighborhood parks, the river, and local dining! Enjoy unbeatable convenience with quick access to major highways. A house hackers dream property! This property offers an instant return on investment with no imminent work required-ideal for an investor looking to expand their portfolio or a savvy buyer looking to house hack in a premier location. Main Level (2 Bed / 1 Bath): Features gleaming natural hardwood floors, an updated kitchen, and a newly renovated bathroom. Upper Level (2 Bed / 1 Bath): Offers a bright layout featuring two spacious bedrooms and a beautifully appointed bathroom. Both units enjoy access to a fully fenced-in backyard equipped with separate, dedicated patio spaces for each tenant. Plus, the full unfinished basement provides tremendous potential to add finished square footage and build instant sweat equity!

Listing courtesy of Keller Williams Realty (Victoria De La Mora). Description from Realtor.com, MLS #7127510. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 2-bed/2-bed up/down in South St. Paul asking $350K, and at that price it doesn't work. Our underwriting at 20% down shows about -$461/month cash flow and a 4.8% cap rate, and break-even is near $263K, roughly $87K below ask. Our rent estimate is about $1,400 per unit, and the listing gives no actual rents or lease terms. It has been on the market 52 days. The interiors look clean and updated, but the description says 'no imminent work required' without naming roof, boiler or panel ages. Before a showing, get the rent roll, the real tax bill, the heating setup and whether each unit has separate meters. Only worth pursuing if the price drops hard or you plan to live in one unit.

Things to consider

Price vs. rents At ask, cash flow is about -$461 a month with a 4.8% cap rate. You'd be paying about $87K over break-even, so the property needs a large price cut to work as an investment.
Income is unverified No rents or leases are stated. Our estimate of about $1,400 per 2-bed is the only guide, so ask for a rent roll before building a budget.
Systems are unknown The listing says no work is needed but gives no ages for the roof, heat or electrical. A 1940 build means older wiring and plumbing are possible, and replacements are costly.Listing says: “no imminent work required”
Taxes are unverified The address didn't match a county parcel, so tax and unit count are unconfirmed. Taxes for an investor can run higher than the seller's bill.
House-hack angle Owner-occupant financing and living in one unit can make the numbers more workable than a pure investment.Listing says: “A house hackers dream property!”

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

doneRenovated main-level bathroomListing says: a newly renovated bathroom
doneUpdated main-level kitchenListing says: an updated kitchen

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: $350,000
Cash to close: $80,500
Price per unit: $175,000
GRM: 10.4

Each month

Cash flow: −$461/mo
Cash-on-cash: −6.9%
Cap rate: 4.8%
DSCR: 0.75×

Break-even

Price that breaks even: $263,437
Rent that breaks even: $3,391/mo

Long run

Year 30: property vs stocks: $990K vs $806K
Cash flow turns positive: year 12

Monthly

Monthly breakdown

Rent	$2,800
Vacancy (6%)	−$168
Collected	$2,632
Property tax Listing	−$372
Insurance Estimate	−$180
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$224
Capital reserve (8% of rent)	−$224
Net operating income	$1,402
Mortgage (principal + interest)	−$1,863
Cash flow	−$461
Principal paid down (equity, not cash)	$237

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

If you buy this building$989,660

Your equity when you sell: $798,569
Rental profits, invested at 7%: $191,090

Same money in stocks$806,469

Cash to close, invested at 7%: $612,787
Monthly shortfalls, invested: $193,682

The building comes out $183,191 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 $990K, stocks $806K. 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 $1,400/mo · range $1,225–$1,550 · 10 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
614 1st Ave S Unit 1, South Saint Paul	$1,335	2 / 1	1,000	0.3 mi	—	Apartment
1028 8th Ave S, South Saint Paul	$1,175	2 / 1	785	0.8 mi	2026-01-16	Apartment
233 Buron Ln, South Saint Paul	$1,150	2 / 1	575	1.0 mi	2025-01-03	Apartment
138 Dwane St Apt 3, South Saint Paul	$1,450	2 / 1	1,300	1.0 mi	2026-10-02	Apartment
352 21st Ave S, South Saint Paul	$1,025	2 / 1	780	1.0 mi	2025-02-27	Apartment
5480 Blackberry Trl, Inver Grove Heights	$1,860	2 / 2	1,235	1.3 mi	2025-03-15	Apartment
2044 Oakdale Ave, West Saint Paul	$1,435	2 / 1	982	1.5 mi	2025-01-03	Apartment
364 Marie Ave E, West Saint Paul	$1,230	2 / 1	700	1.5 mi	2025-01-08	Apartment
1240 Bryant Ave, Saint Paul	$1,349	2 / 1	800	1.5 mi	2025-01-03	Apartment
1926 Oakdale Ave, West Saint Paul	$1,525	2 / 1	930	1.5 mi	2024-04-12	Apartment

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

highPrice is far above what rents support; break-even is about $101K under ask. Based on: data: underwriting.break_even_price · 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 429 5TH AVE S
mediumNo rents, lease status or occupancy are given, so income is unverified. Listing says: Turnkey Investor or House-Hack Opportunity Near Roosevelt Field Park! · AI review
medium'No imminent work required' is a claim with no system ages (roof, heat, electrical, plumbing) backing it up. Listing says: no imminent work required · AI review
lowListing shows 4 bed / 3 bath but the description gives 1 bath per unit, so the bath count is unclear. Based on: data: listing.baths · AI review

Opportunities

Unfinished basement could add finished space or a storage or laundry amenity, though a legal extra unit is unlikely without egress and permits. Listing says: the full unfinished basement provides tremendous potential to add finished square footage · AI review
House-hack: live in one unit and let the other offset the mortgage. Listing says: A house hackers dream property! · AI review
No rent cap lets rents rise with the market. Based on: data: underwriting.rent_rule · AI review

Questions for the agent

Are both units occupied? What are the current rents, lease end dates and deposits?
Who pays heat, water, electric and trash? Are there separate meters and separate furnaces?
What are the ages of the roof, furnace(s), water heater and electrical panel?
What are the actual property taxes, and is the city rental license in place for two units?
Why has it sat 52 days, and has the price changed?
Is the basement legally finished or usable, and has there been any water in it?

Bottom line

Tidy, updated-looking up/down, but $350K is about $87K more than the rents support, so it only works as a house-hack at a lower price. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2026. 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.	$4,462
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,160
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 2026-08-14 (52 days); down $25,000 (6.7%) from the first ask of $375,000; last sold for $335,000 on 2022-06-28.

Date	Event	Price
2026-09-28	Price changed	$350,000
2026-09-10	Price changed	$370,000
2026-08-14	Listed	$375,000
2022-06-28	Sold	$335,000
2022-05-12	Listed	$325,000
2013-05-17	Sold	$157,000
2012-08-01	Listed	$169,000
2008-02-08	Sold public record	$155,000
1992-06-05	Sold public record	$44,500

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$4,462
County	Dakota
Parcel number	366430010080

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.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with South Saint Paul on rental licensing before you buy.

Nearest highway

I 494, about 1102 m away.