437 Wheeler St N
Fourplex · 4 units: 2 bed / 1 bath ×3 and 1 bed / 1 bath unit split estimated · 3,563 sq ft
Saint Paul, MN · Union Park (Merriam Park, Snelling-Hamline, Lexington-Hamline) · View the listing ↗
Photos courtesy of Metzen Realty And Associates Co. - Broker, via Realtor.com.
- Asking price
- $375,000 4 units · $94K per unit
- Monthly cash flow
- −$177 at 20% down, 7%
- Estimated rent
- $4,375/mo medium confidence
- Break-even price
- $341,738 where cash flow hits $0
First look
This is a four-unit building listed at $375K with a description that says nothing about rents, leases, heat or utilities. Our numbers show about -$177/month at the asking price with 20% down, and a break-even price near $342K, so it needs a cut of roughly $33K just to reach zero. The photos show dated kitchens and baths, radiator heat and a mix of finished and unfinished-looking units. Get the rent roll, leases and heat setup first. Also confirm the rental license is actually issued, since it shows Pending. At 114 days on market, there is room to negotiate, and a showing is worth it only if the price moves.
Things to consider
- Cash flow is negative at ask Our underwriting shows about -$177/month at 20% down, and the break-even price is near $342K. The price needs to come down to work.
- Rents are unknown Without a rent roll, income is just our estimate. St. Paul's 3% cap also limits how fast rents can rise for sitting tenants.
- Heavy tax and assessment load About $8,859 in tax plus $1,513 in assessments eats a big share of income at these rent levels.
- Unit legality and licensing Pending license and a possible attic unit raise the question of whether all four units are legal and insurable.
- Dated interiors and unseen systems Kitchens and baths look old, and major systems were not photographed, so budget for capital repairs.From photo 6
- Bought at $361K in 2019 The seller is asking only $14K more after seven years, so appreciation is thin and the price may not leave room for the repairs.
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
- $375,000
- Cash to close
- $48,750
- Price per unit
- $93,750
- GRM
- 7.1
Each month
- Cash flow
- −$637/mo
- Cash-on-cash
- −15.7%
- Cap rate
- 5.8%
- DSCR
- 0.74×
Break-even
- Price that breaks even
- $277,681
- Rent that breaks even
- $5,203/mo
Long run
- Year 30: property vs stocks
- $1.15M vs $586K
- Cash flow turns positive
- year 10
The deal
- Price
- $375,000
- Cash to close
- $48,750
- Price per unit
- $93,750
- GRM
- 7.1
Each month
- Cash flow
- −$1,008/mo
- Cash-on-cash
- −24.8%
- Cap rate
- 4.6%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $221,176
- Rent that breaks even
- $5,845/mo
Long run
- Year 30: property vs stocks
- $908K vs $923K
- Cash flow turns positive
- year 20
The deal
- Price
- $365,000
- Cash to close
- $47,450
- Price per unit
- $91,250
- GRM
- 7.0
Each month
- Cash flow
- −$572/mo
- Cash-on-cash
- −14.5%
- Cap rate
- 6.0%
- DSCR
- 0.76×
Break-even
- Price that breaks even
- $277,681
- Rent that breaks even
- $5,118/mo
Long run
- Year 30: property vs stocks
- $1.16M vs $541K
- Cash flow turns positive
- year 9
The deal
- Price
- $365,000
- Cash to close
- $47,450
- Price per unit
- $91,250
- GRM
- 7.0
Each month
- Cash flow
- −$942/mo
- Cash-on-cash
- −23.8%
- Cap rate
- 4.8%
- DSCR
- 0.61×
Break-even
- Price that breaks even
- $221,176
- Rent that breaks even
- $5,749/mo
Long run
- Year 30: property vs stocks
- $898K vs $856K
- Cash flow turns positive
- year 19
The deal
- Price
- $375,000
- Cash to close
- $86,250
- Price per unit
- $93,750
- GRM
- 7.1
Each month
- Cash flow
- −$177/mo
- Cash-on-cash
- −2.5%
- Cap rate
- 5.8%
- DSCR
- 0.91×
Break-even
- Price that breaks even
- $341,738
- Rent that breaks even
- $4,605/mo
Long run
- Year 30: property vs stocks
- $1.31M vs $691K
- Cash flow turns positive
- year 5
The deal
- Price
- $375,000
- Cash to close
- $86,250
- Price per unit
- $93,750
- GRM
- 7.1
Each month
- Cash flow
- −$547/mo
- Cash-on-cash
- −7.6%
- Cap rate
- 4.6%
- DSCR
- 0.73×
Break-even
- Price that breaks even
- $272,198
- Rent that breaks even
- $5,173/mo
Long run
- Year 30: property vs stocks
- $973K vs $926K
- Cash flow turns positive
- year 15
The deal
- Price
- $365,000
- Cash to close
- $83,950
- Price per unit
- $91,250
- GRM
- 7.0
Each month
- Cash flow
- −$124/mo
- Cash-on-cash
- −1.8%
- Cap rate
- 6.0%
- DSCR
- 0.94×
Break-even
- Price that breaks even
- $341,738
- Rent that breaks even
- $4,536/mo
Long run
- Year 30: property vs stocks
- $1.34M vs $658K
- Cash flow turns positive
- year 4
The deal
- Price
- $365,000
- Cash to close
- $83,950
- Price per unit
- $91,250
- GRM
- 7.0
Each month
- Cash flow
- −$494/mo
- Cash-on-cash
- −7.1%
- Cap rate
- 4.8%
- DSCR
- 0.75×
Break-even
- Price that breaks even
- $272,198
- Rent that breaks even
- $5,096/mo
Long run
- Year 30: property vs stocks
- $970K vs $867K
- Cash flow turns positive
- year 14
The deal
- Price
- $375,000
- Cash to close
- $105,000
- Price per unit
- $93,750
- GRM
- 7.1
Each month
- Cash flow
- −$52/mo
- Cash-on-cash
- −0.6%
- Cap rate
- 5.8%
- DSCR
- 0.97×
Break-even
- Price that breaks even
- $364,521
- Rent that breaks even
- $4,443/mo
Long run
- Year 30: property vs stocks
- $1.43M vs $804K
- Cash flow turns positive
- year 3
The deal
- Price
- $375,000
- Cash to close
- $105,000
- Price per unit
- $93,750
- GRM
- 7.1
Each month
- Cash flow
- −$422/mo
- Cash-on-cash
- −4.8%
- Cap rate
- 4.6%
- DSCR
- 0.77×
Break-even
- Price that breaks even
- $290,344
- Rent that breaks even
- $4,991/mo
Long run
- Year 30: property vs stocks
- $1.02M vs $976K
- Cash flow turns positive
- year 12
The deal
- Price
- $365,000
- Cash to close
- $102,200
- Price per unit
- $91,250
- GRM
- 7.0
Each month
- Cash flow
- −$2/mo
- Cash-on-cash
- −0.0%
- Cap rate
- 6.0%
- DSCR
- 1.00×
Break-even
- Price that breaks even
- $364,521
- Rent that breaks even
- $4,378/mo
Long run
- Year 30: property vs stocks
- $1.46M vs $778K
- Cash flow turns positive
- year 2
The deal
- Price
- $365,000
- Cash to close
- $102,200
- Price per unit
- $91,250
- GRM
- 7.0
Each month
- Cash flow
- −$373/mo
- Cash-on-cash
- −4.4%
- Cap rate
- 4.8%
- DSCR
- 0.80×
Break-even
- Price that breaks even
- $290,344
- Rent that breaks even
- $4,919/mo
Long run
- Year 30: property vs stocks
- $1.02M vs $921K
- Cash flow turns positive
- year 11
Monthly
Monthly breakdown
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $1,819 |
| Mortgage (principal + interest) | −$2,245 |
| PMI | −$211 |
| Cash flow | −$637 |
| Principal paid down (equity, not cash) | $286 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $1,449 |
| Mortgage (principal + interest) | −$2,245 |
| PMI | −$211 |
| Cash flow | −$1,008 |
| Principal paid down (equity, not cash) | $286 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $1,819 |
| Mortgage (principal + interest) | −$2,186 |
| PMI | −$205 |
| Cash flow | −$572 |
| Principal paid down (equity, not cash) | $278 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $1,449 |
| Mortgage (principal + interest) | −$2,186 |
| PMI | −$205 |
| Cash flow | −$942 |
| Principal paid down (equity, not cash) | $278 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $1,819 |
| Mortgage (principal + interest) | −$1,996 |
| Cash flow | −$177 |
| Principal paid down (equity, not cash) | $254 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $1,449 |
| Mortgage (principal + interest) | −$1,996 |
| Cash flow | −$547 |
| Principal paid down (equity, not cash) | $254 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $1,819 |
| Mortgage (principal + interest) | −$1,943 |
| Cash flow | −$124 |
| Principal paid down (equity, not cash) | $247 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $1,449 |
| Mortgage (principal + interest) | −$1,943 |
| Cash flow | −$494 |
| Principal paid down (equity, not cash) | $247 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $1,819 |
| Mortgage (principal + interest) | −$1,871 |
| Cash flow | −$52 |
| Principal paid down (equity, not cash) | $238 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $1,449 |
| Mortgage (principal + interest) | −$1,871 |
| Cash flow | −$422 |
| Principal paid down (equity, not cash) | $238 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Net operating income | $1,819 |
| Mortgage (principal + interest) | −$1,821 |
| Cash flow | −$2 |
| Principal paid down (equity, not cash) | $232 |
| Rent | $4,375 |
| Vacancy (6%) | −$262 |
| Collected | $4,112 |
| Property tax Public record | −$738 |
| Insurance Estimate | −$412 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$350 |
| Capital reserve (9% of rent) | −$394 |
| Property management | −$370 |
| Net operating income | $1,449 |
| Mortgage (principal + interest) | −$1,821 |
| Cash flow | −$373 |
| Principal paid down (equity, not cash) | $232 |
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
- $855,610
- Rental profits, invested at 7%
- $290,757
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $337,500 of loan.
$179,448 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $371,097
- Monthly shortfalls, invested
- $214,717
$48,750 put into an index fund instead of the down payment and closing costs.
$34,784 you'd have paid in while the building lost money, invested instead.
The building comes out $560,552 ahead after 30 years.
- Your equity when you sell
- $855,610
- Rental profits, invested at 7%
- $52,636
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $337,500 of loan.
$41,844 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $371,097
- Monthly shortfalls, invested
- $552,324
$48,750 put into an index fund instead of the down payment and closing costs.
$108,487 you'd have paid in while the building lost money, invested instead.
Stocks come out $15,176 ahead after 30 years.
- Your equity when you sell
- $832,794
- Rental profits, invested at 7%
- $325,033
Sells for $885,951 (value up 3% a year), minus 6% selling cost ($53,157). Rent paid down $328,500 of loan.
$195,030 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $361,202
- Monthly shortfalls, invested
- $179,379
$47,450 put into an index fund instead of the down payment and closing costs.
$28,540 you'd have paid in while the building lost money, invested instead.
The building comes out $617,245 ahead after 30 years.
- Your equity when you sell
- $832,794
- Rental profits, invested at 7%
- $65,001
Sells for $885,951 (value up 3% a year), minus 6% selling cost ($53,157). Rent paid down $328,500 of loan.
$50,235 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $361,202
- Monthly shortfalls, invested
- $495,077
$47,450 put into an index fund instead of the down payment and closing costs.
$95,051 you'd have paid in while the building lost money, invested instead.
The building comes out $41,517 ahead after 30 years.
- Your equity when you sell
- $855,610
- Rental profits, invested at 7%
- $458,057
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $300,000 of loan.
$249,677 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $656,557
- Monthly shortfalls, invested
- $33,948
$86,250 put into an index fund instead of the down payment and closing costs.
$5,072 you'd have paid in while the building lost money, invested instead.
The building comes out $623,162 ahead after 30 years.
- Your equity when you sell
- $855,610
- Rental profits, invested at 7%
- $117,733
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $300,000 of loan.
$82,551 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $656,557
- Monthly shortfalls, invested
- $269,353
$86,250 put into an index fund instead of the down payment and closing costs.
$49,252 you'd have paid in while the building lost money, invested instead.
The building comes out $47,433 ahead after 30 years.
- Your equity when you sell
- $832,794
- Rental profits, invested at 7%
- $503,318
Sells for $885,951 (value up 3% a year), minus 6% selling cost ($53,157). Rent paid down $292,000 of loan.
$266,524 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $639,049
- Monthly shortfalls, invested
- $18,878
$83,950 put into an index fund instead of the down payment and closing costs.
$2,758 you'd have paid in while the building lost money, invested instead.
The building comes out $678,185 ahead after 30 years.
- Your equity when you sell
- $832,794
- Rental profits, invested at 7%
- $136,855
Sells for $885,951 (value up 3% a year), minus 6% selling cost ($53,157). Rent paid down $292,000 of loan.
$93,213 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $639,049
- Monthly shortfalls, invested
- $228,143
$83,950 put into an index fund instead of the down payment and closing costs.
$40,754 you'd have paid in while the building lost money, invested instead.
The building comes out $102,456 ahead after 30 years.
- Your equity when you sell
- $855,610
- Rental profits, invested at 7%
- $570,411
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $281,250 of loan.
$290,206 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $799,287
- Monthly shortfalls, invested
- $4,901
$105,000 put into an index fund instead of the down payment and closing costs.
$693 you'd have paid in while the building lost money, invested instead.
The building comes out $621,834 ahead after 30 years.
- Your equity when you sell
- $855,610
- Rental profits, invested at 7%
- $166,364
Sells for $910,223 (value up 3% a year), minus 6% selling cost ($54,613). Rent paid down $281,250 of loan.
$108,752 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $799,287
- Monthly shortfalls, invested
- $176,583
$105,000 put into an index fund instead of the down payment and closing costs.
$30,546 you'd have paid in while the building lost money, invested instead.
The building comes out $46,105 ahead after 30 years.
- Your equity when you sell
- $832,794
- Rental profits, invested at 7%
- $622,275
Sells for $885,951 (value up 3% a year), minus 6% selling cost ($53,157). Rent paid down $273,750 of loan.
$307,505 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $777,972
- Monthly shortfalls, invested
- $204
$102,200 put into an index fund instead of the down payment and closing costs.
$29 you'd have paid in while the building lost money, invested instead.
The building comes out $676,892 ahead after 30 years.
- Your equity when you sell
- $832,794
- Rental profits, invested at 7%
- $189,717
Sells for $885,951 (value up 3% a year), minus 6% selling cost ($53,157). Rent paid down $273,750 of loan.
$120,397 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $777,972
- Monthly shortfalls, invested
- $143,375
$102,200 put into an index fund instead of the down payment and closing costs.
$24,228 you'd have paid in while the building lost money, invested instead.
The building comes out $101,163 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 $1.15M, stocks $586K. The property wins.
Year 30 (loan paid off): property $908K, stocks $923K. Stocks win.
Year 30 (loan paid off): property $1.16M, stocks $541K. The property wins.
Year 30 (loan paid off): property $898K, stocks $856K. The property wins.
Year 30 (loan paid off): property $1.31M, stocks $691K. The property wins.
Year 30 (loan paid off): property $973K, stocks $926K. The property wins.
Year 30 (loan paid off): property $1.34M, stocks $658K. The property wins.
Year 30 (loan paid off): property $970K, stocks $867K. The property wins.
Year 30 (loan paid off): property $1.43M, stocks $804K. The property wins.
Year 30 (loan paid off): property $1.02M, stocks $976K. The property wins.
Year 30 (loan paid off): property $1.46M, stocks $778K. The property wins.
Year 30 (loan paid off): property $1.02M, stocks $921K. The property wins.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-02. The estimate above is RentCast's, weighted toward the closest matches.
2 bed / 1 bath estimate $1,125/mo · range $875–$1,400
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 418 Pierce St N, Saint Paul 55104 off market | $950 | 2 / 1 | 0.2 mi | 94% |
| 613 Snelling Ave N, Saint Paul 55104 | $1,600 | 2 / 1 | 0.5 mi | 93% |
| 1702 Hague Ave, Apt 3, Saint Paul 55104 off market | $1,249 | 2 / 1 | 0.6 mi | 93% |
| 1702 Hague Ave, Saint Paul 55104 off market | $1,249 | 2 / 1 | 0.6 mi | 93% |
| 619-625 Snelling Ave N, Saint Paul 55104 off market | $500 | 1 / 1 | 0.5 mi | 86% |
| 1905-07 Feronia Ave, Saint Paul 55104 | $1,000 | 1 / 1 | 0.2 mi | 84% |
| 1757 Thomas Ave W, Unit 9, Saint Paul 55104 off market | $975 | 1 / 1 | 0.3 mi | 84% |
| 1670 Marshall Ave, Saint Paul 55104 | $1,050 | 1 / 1 | 0.5 mi | 84% |
| 1705 Hague Ave, Saint Paul 55104 off market | $1,175 | 1 / 1 | 0.6 mi | 84% |
| 1702 Hague Ave, Apt 4, Saint Paul 55104 off market | $1,125 | 1 / 1 | 0.6 mi | 84% |
1 bed / 1 bath estimate $1,000/mo · range $825–$1,200
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 619-625 Snelling Ave N, Saint Paul 55104 off market | $500 | 1 / 1 | 0.5 mi | 95% |
| 1905-07 Feronia Ave, Saint Paul 55104 | $1,000 | 1 / 1 | 0.2 mi | 94% |
| 1757 Thomas Ave W, Unit 9, Saint Paul 55104 off market | $975 | 1 / 1 | 0.3 mi | 93% |
| 1670 Marshall Ave, Saint Paul 55104 | $1,050 | 1 / 1 | 0.5 mi | 93% |
| 1705 Hague Ave, Saint Paul 55104 off market | $1,175 | 1 / 1 | 0.6 mi | 93% |
| 1702 Hague Ave, Apt 4, Saint Paul 55104 off market | $1,125 | 1 / 1 | 0.6 mi | 93% |
| 293 Wilder St N, Saint Paul 55104 | $1,300 | 1 / 1 | 0.6 mi | 92% |
| 432 N Dewey St, Saint Paul 55104 off market | $925 | 0 / 1 | 0.2 mi | 84% |
| 1693 Sherburne Ave, Saint Paul 55104 | $950 | 0 / 1 | 0.2 mi | 84% |
| 418 Pierce St N, Saint Paul 55104 off market | $950 | 2 / 1 | 0.2 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
- highDescription gives no rents, lease terms or occupancy, so income is unverified. Listing says: whether you're looking to add to your investment portfolio or live in one unit · AI review
- medium$1,513 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 332923420041: special assessments (payable 2026) = $1,513.32
- mediumRental license status is Pending, not issued. Confirm all four units are licensed and legal. Based on: data: city.rental_license · AI review
- mediumProperty taxes are high relative to likely rents, and the bill is at the non-homestead rate. Based on: data: county.tax · AI review
- lowProperty sits about 264 m from I-94, which can mean noise and affect rentability. Based on: data: highway · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 117 days on market, 1 price cuts
- Price is about $33K above our break-even, and it has sat 114 days, so there is room to negotiate. Based on: data: underwriting.break_even_price · AI review
- Large detached garage could support paid parking or storage income. Listing says: The detached 3-car garage provides valuable off-street parking and storage · AI review
- Dated kitchens and baths give a value-add path if units turn over. Based on: photo 4 · AI review
Questions for the agent
- Can you send the rent roll, current leases and trailing-12 expenses?
- What is the heat setup? Is it one boiler or separate systems, and who pays?
- What are the $1,513 special assessments for, and will the seller pay them at closing?
- Why is the rental license still pending, and are all four units licensed?
- How old are the roof, boiler, electrical panels and water heaters?
- Which units are vacant or owner-occupied, and why has it been listed 114 days?
Bottom line
Four units with no rent information and negative cash flow at ask; only worth pursuing well below $342K once the rent roll checks out. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $8,859 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $4,940 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $340 |
| 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 1900: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-06-10 (117 days); last sold for $361,000 on 2019-06-26.
| Date | Event | Price |
|---|---|---|
| Removed | $375,000 | |
| Removed | $435,000 | |
| Relisted | $375,000 | |
| Removed | — | |
| Listed | $375,000 | |
| Sold | $361,000 | |
| Sold public record | $287,000 |
County record Public record
| Recorded as | apartments 4-6 rental units |
| Living units | 4 |
| Year built | 1900 |
| Market value (2026) | $422,400 |
| Property tax, payable 2026 | $8,859 |
| Special assessments | $1,513 |
| Homestead | no |
| Last sale | 2019-06-26 · $361,000 |
Source: Ramsey County parcel records.
City rental certificate (CofO)
Residential 3+ Units: 4 unit(s), A, status pending, renews 2028-01-05.
Nearest highway
I 94, about 264 m away.
Crime in Union Park
1,603 incidents in the last 12 months (83 per 1,000 residents), −27% vs. the year before. St. Paul police incidents, excluding proactive visits and community events. Union Park's incident count includes the Midway retail corridor, which inflates the per-resident rate.