549 Selby Ave
Duplex · 2 units: 3 bed / 1 bath ×2 unit split estimated · 4,017 sq ft
Saint Paul, MN · Summit – University (Rondo, Cathedral Hill) · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $522,500 2 units · $261K per unit
- Monthly cash flow
- −$1,211 at 20% down, 7%
- Break-even price
- $294,913 where cash flow hits $0
First look
This is a 1888 up/down duplex on Selby asking $522,500, and the numbers don't work. Our underwriting shows about -$1,211 a month and a 3.6% cap rate, and cash flow only breaks even near $295K. The listing gives no rents, no lease terms, no unit mix and no repair history, so it reads as a sales pitch built on location and projected utility bill-backs. Photos show dated kitchens, dark staining on a bedroom wall and a basement with old wiring, so budget for work. Ask for the rent roll and trailing-12 expenses before a showing; at this price it is worth seeing only if the seller moves a lot.
Things to consider
- Price is far above what income supports Our estimate gives roughly -$1,211 a month at asking. Break-even is near $295K, so the gap is huge.
- RUBS is a projection, not income Utility bill-backs haven't started and may count against St. Paul's 3% rent cap.Listing says: “ownership implementing a RUBS utility reimbursement program across the portfolio beginning Q3 2026”
- Expect deferred maintenance and inspection risk C-grade fire inspection plus visible stains and a worn porch point to repair orders and capital spending.
- Taxes are heavy at the investor rate $8,122 in tax plus $1,008 in assessments takes a big share of income from two roughly $1,775 units.
- Long time on market gives leverage 143 days suggests the market disagrees with the price; a much lower offer is reasonable.
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
- $522,500
- Cash to close
- $67,925
- Price per unit
- $261,250
- GRM
- 12.3
Each month
- Cash flow
- −$1,853/mo
- Cash-on-cash
- −32.7%
- Cap rate
- 3.6%
- DSCR
- 0.46×
Break-even
- Price that breaks even
- $239,633
- Rent that breaks even
- $5,956/mo
Long run
- Year 30: property vs stocks
- $1.20M vs $1.82M
- Cash flow turns positive
- year 29
The deal
- Price
- $522,500
- Cash to close
- $67,925
- Price per unit
- $261,250
- GRM
- 12.3
Each month
- Cash flow
- −$2,153/mo
- Cash-on-cash
- −38.0%
- Cap rate
- 2.9%
- DSCR
- 0.37×
Break-even
- Price that breaks even
- $193,783
- Rent that breaks even
- $6,691/mo
Long run
- Year 30: property vs stocks
- $1.19M vs $2.29M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $512,500
- Cash to close
- $66,625
- Price per unit
- $256,250
- GRM
- 12.0
Each month
- Cash flow
- −$1,787/mo
- Cash-on-cash
- −32.2%
- Cap rate
- 3.7%
- DSCR
- 0.47×
Break-even
- Price that breaks even
- $239,633
- Rent that breaks even
- $5,871/mo
Long run
- Year 30: property vs stocks
- $1.17M vs $1.75M
- Cash flow turns positive
- year 28
The deal
- Price
- $512,500
- Cash to close
- $66,625
- Price per unit
- $256,250
- GRM
- 12.0
Each month
- Cash flow
- −$2,088/mo
- Cash-on-cash
- −37.6%
- Cap rate
- 3.0%
- DSCR
- 0.38×
Break-even
- Price that breaks even
- $193,783
- Rent that breaks even
- $6,596/mo
Long run
- Year 30: property vs stocks
- $1.17M vs $2.21M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $522,500
- Cash to close
- $120,175
- Price per unit
- $261,250
- GRM
- 12.3
Each month
- Cash flow
- −$1,211/mo
- Cash-on-cash
- −12.1%
- Cap rate
- 3.6%
- DSCR
- 0.56×
Break-even
- Price that breaks even
- $294,913
- Rent that breaks even
- $5,123/mo
Long run
- Year 30: property vs stocks
- $1.22M vs $1.76M
- Cash flow turns positive
- year 24
The deal
- Price
- $522,500
- Cash to close
- $120,175
- Price per unit
- $261,250
- GRM
- 12.3
Each month
- Cash flow
- −$1,512/mo
- Cash-on-cash
- −15.1%
- Cap rate
- 2.9%
- DSCR
- 0.46×
Break-even
- Price that breaks even
- $238,485
- Rent that breaks even
- $5,755/mo
Long run
- Year 30: property vs stocks
- $1.19M vs $2.20M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $512,500
- Cash to close
- $117,875
- Price per unit
- $256,250
- GRM
- 12.0
Each month
- Cash flow
- −$1,158/mo
- Cash-on-cash
- −11.8%
- Cap rate
- 3.7%
- DSCR
- 0.58×
Break-even
- Price that breaks even
- $294,913
- Rent that breaks even
- $5,054/mo
Long run
- Year 30: property vs stocks
- $1.20M vs $1.69M
- Cash flow turns positive
- year 23
The deal
- Price
- $512,500
- Cash to close
- $117,875
- Price per unit
- $256,250
- GRM
- 12.0
Each month
- Cash flow
- −$1,458/mo
- Cash-on-cash
- −14.8%
- Cap rate
- 3.0%
- DSCR
- 0.47×
Break-even
- Price that breaks even
- $238,485
- Rent that breaks even
- $5,678/mo
Long run
- Year 30: property vs stocks
- $1.17M vs $2.12M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $522,500
- Cash to close
- $146,300
- Price per unit
- $261,250
- GRM
- 12.3
Each month
- Cash flow
- −$1,038/mo
- Cash-on-cash
- −8.5%
- Cap rate
- 3.6%
- DSCR
- 0.60×
Break-even
- Price that breaks even
- $314,573
- Rent that breaks even
- $4,897/mo
Long run
- Year 30: property vs stocks
- $1.24M vs $1.78M
- Cash flow turns positive
- year 21
The deal
- Price
- $522,500
- Cash to close
- $146,300
- Price per unit
- $261,250
- GRM
- 12.3
Each month
- Cash flow
- −$1,338/mo
- Cash-on-cash
- −11.0%
- Cap rate
- 2.9%
- DSCR
- 0.49×
Break-even
- Price that breaks even
- $254,384
- Rent that breaks even
- $5,502/mo
Long run
- Year 30: property vs stocks
- $1.19M vs $2.20M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $512,500
- Cash to close
- $143,500
- Price per unit
- $256,250
- GRM
- 12.0
Each month
- Cash flow
- −$988/mo
- Cash-on-cash
- −8.3%
- Cap rate
- 3.7%
- DSCR
- 0.61×
Break-even
- Price that breaks even
- $314,573
- Rent that breaks even
- $4,833/mo
Long run
- Year 30: property vs stocks
- $1.23M vs $1.71M
- Cash flow turns positive
- year 21
The deal
- Price
- $512,500
- Cash to close
- $143,500
- Price per unit
- $256,250
- GRM
- 12.0
Each month
- Cash flow
- −$1,288/mo
- Cash-on-cash
- −10.8%
- Cap rate
- 3.0%
- DSCR
- 0.50×
Break-even
- Price that breaks even
- $254,384
- Rent that breaks even
- $5,429/mo
Long run
- Year 30: property vs stocks
- $1.17M vs $2.12M
- Cash flow turns positive
- year 30
Monthly
Monthly breakdown
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,570 |
| Mortgage (principal + interest) | −$3,129 |
| PMI | −$294 |
| Cash flow | −$1,853 |
| Principal paid down (equity, not cash) | $398 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,269 |
| Mortgage (principal + interest) | −$3,129 |
| PMI | −$294 |
| Cash flow | −$2,153 |
| Principal paid down (equity, not cash) | $398 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,570 |
| Mortgage (principal + interest) | −$3,069 |
| PMI | −$288 |
| Cash flow | −$1,787 |
| Principal paid down (equity, not cash) | $390 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,269 |
| Mortgage (principal + interest) | −$3,069 |
| PMI | −$288 |
| Cash flow | −$2,088 |
| Principal paid down (equity, not cash) | $390 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,570 |
| Mortgage (principal + interest) | −$2,781 |
| Cash flow | −$1,211 |
| Principal paid down (equity, not cash) | $354 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,269 |
| Mortgage (principal + interest) | −$2,781 |
| Cash flow | −$1,512 |
| Principal paid down (equity, not cash) | $354 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,570 |
| Mortgage (principal + interest) | −$2,728 |
| Cash flow | −$1,158 |
| Principal paid down (equity, not cash) | $347 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,269 |
| Mortgage (principal + interest) | −$2,728 |
| Cash flow | −$1,458 |
| Principal paid down (equity, not cash) | $347 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,570 |
| Mortgage (principal + interest) | −$2,607 |
| Cash flow | −$1,038 |
| Principal paid down (equity, not cash) | $332 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,269 |
| Mortgage (principal + interest) | −$2,607 |
| Cash flow | −$1,338 |
| Principal paid down (equity, not cash) | $332 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,570 |
| Mortgage (principal + interest) | −$2,557 |
| Cash flow | −$988 |
| Principal paid down (equity, not cash) | $325 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$677 |
| Insurance Estimate | −$257 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,269 |
| Mortgage (principal + interest) | −$2,557 |
| Cash flow | −$1,288 |
| Principal paid down (equity, not cash) | $325 |
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
- $1,192,150
- Rental profits, invested at 7%
- $2,858
Sells for $1,268,245 (value up 3% a year), minus 6% selling cost ($76,095). Rent paid down $470,250 of loan.
$2,794 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $517,062
- Monthly shortfalls, invested
- $1,305,732
$67,925 put into an index fund instead of the down payment and closing costs.
$303,597 you'd have paid in while the building lost money, invested instead.
Stocks come out $627,786 ahead after 30 years.
- Your equity when you sell
- $1,192,150
- Rental profits, invested at 7%
- $0
Sells for $1,268,245 (value up 3% a year), minus 6% selling cost ($76,095). Rent paid down $470,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $517,062
- Monthly shortfalls, invested
- $1,770,037
$67,925 put into an index fund instead of the down payment and closing costs.
$472,263 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,094,949 ahead after 30 years.
- Your equity when you sell
- $1,169,334
- Rental profits, invested at 7%
- $5,126
Sells for $1,243,972 (value up 3% a year), minus 6% selling cost ($74,638). Rent paid down $461,250 of loan.
$4,913 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $507,166
- Monthly shortfalls, invested
- $1,238,387
$66,625 put into an index fund instead of the down payment and closing costs.
$283,890 you'd have paid in while the building lost money, invested instead.
Stocks come out $571,093 ahead after 30 years.
- Your equity when you sell
- $1,169,334
- Rental profits, invested at 7%
- $0
Sells for $1,243,972 (value up 3% a year), minus 6% selling cost ($74,638). Rent paid down $461,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $507,166
- Monthly shortfalls, invested
- $1,700,424
$66,625 put into an index fund instead of the down payment and closing costs.
$450,437 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,038,256 ahead after 30 years.
- Your equity when you sell
- $1,192,150
- Rental profits, invested at 7%
- $25,998
Sells for $1,268,245 (value up 3% a year), minus 6% selling cost ($76,095). Rent paid down $418,000 of loan.
$22,756 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $914,803
- Monthly shortfalls, invested
- $843,896
$120,175 put into an index fund instead of the down payment and closing costs.
$184,308 you'd have paid in while the building lost money, invested instead.
Stocks come out $540,551 ahead after 30 years.
- Your equity when you sell
- $1,192,150
- Rental profits, invested at 7%
- $0
Sells for $1,268,245 (value up 3% a year), minus 6% selling cost ($76,095). Rent paid down $418,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $914,803
- Monthly shortfalls, invested
- $1,285,060
$120,175 put into an index fund instead of the down payment and closing costs.
$333,012 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,007,713 ahead after 30 years.
- Your equity when you sell
- $1,169,334
- Rental profits, invested at 7%
- $32,087
Sells for $1,243,972 (value up 3% a year), minus 6% selling cost ($74,638). Rent paid down $410,000 of loan.
$27,577 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $897,295
- Monthly shortfalls, invested
- $789,654
$117,875 put into an index fund instead of the down payment and closing costs.
$169,968 you'd have paid in while the building lost money, invested instead.
Stocks come out $485,527 ahead after 30 years.
- Your equity when you sell
- $1,169,334
- Rental profits, invested at 7%
- $0
Sells for $1,243,972 (value up 3% a year), minus 6% selling cost ($74,638). Rent paid down $410,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $897,295
- Monthly shortfalls, invested
- $1,224,729
$117,875 put into an index fund instead of the down payment and closing costs.
$313,851 you'd have paid in while the building lost money, invested instead.
Stocks come out $952,690 ahead after 30 years.
- Your equity when you sell
- $1,192,150
- Rental profits, invested at 7%
- $48,915
Sells for $1,268,245 (value up 3% a year), minus 6% selling cost ($76,095). Rent paid down $391,875 of loan.
$40,295 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,113,673
- Monthly shortfalls, invested
- $669,794
$146,300 put into an index fund instead of the down payment and closing costs.
$139,275 you'd have paid in while the building lost money, invested instead.
Stocks come out $542,402 ahead after 30 years.
- Your equity when you sell
- $1,192,150
- Rental profits, invested at 7%
- $0
Sells for $1,268,245 (value up 3% a year), minus 6% selling cost ($76,095). Rent paid down $391,875 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,113,673
- Monthly shortfalls, invested
- $1,088,041
$146,300 put into an index fund instead of the down payment and closing costs.
$270,440 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,009,564 ahead after 30 years.
- Your equity when you sell
- $1,169,334
- Rental profits, invested at 7%
- $57,188
Sells for $1,243,972 (value up 3% a year), minus 6% selling cost ($74,638). Rent paid down $384,375 of loan.
$46,283 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,092,359
- Monthly shortfalls, invested
- $621,506
$143,500 put into an index fund instead of the down payment and closing costs.
$127,300 you'd have paid in while the building lost money, invested instead.
Stocks come out $487,343 ahead after 30 years.
- Your equity when you sell
- $1,169,334
- Rental profits, invested at 7%
- $245
Sells for $1,243,972 (value up 3% a year), minus 6% selling cost ($74,638). Rent paid down $384,375 of loan.
$245 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,092,359
- Monthly shortfalls, invested
- $1,031,726
$143,500 put into an index fund instead of the down payment and closing costs.
$252,722 you'd have paid in while the building lost money, invested instead.
Stocks come out $954,506 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 $1.20M, stocks $1.82M. Stocks win.
Year 30 (loan paid off): property $1.19M, stocks $2.29M. Stocks win.
Year 30 (loan paid off): property $1.17M, stocks $1.75M. Stocks win.
Year 30 (loan paid off): property $1.17M, stocks $2.21M. Stocks win.
Year 30 (loan paid off): property $1.22M, stocks $1.76M. Stocks win.
Year 30 (loan paid off): property $1.19M, stocks $2.20M. Stocks win.
Year 30 (loan paid off): property $1.20M, stocks $1.69M. Stocks win.
Year 30 (loan paid off): property $1.17M, stocks $2.12M. Stocks win.
Year 30 (loan paid off): property $1.24M, stocks $1.78M. Stocks win.
Year 30 (loan paid off): property $1.19M, stocks $2.20M. Stocks win.
Year 30 (loan paid off): property $1.23M, stocks $1.71M. Stocks win.
Year 30 (loan paid off): property $1.17M, stocks $2.12M. 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.
3 bed estimate $1,775/mo · range $1,600–$2,075 · 8 rentals within 1.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 865/867 Hague Ave, Saint Paul | $1,625 | 3 / 1 | 0.7 mi |
| 555-565 N Kent St, Saint Paul | $1,435 | 3 / 1 | 0.8 mi |
| 987 Dayton Ave, Saint Paul | $2,050 | 3 / 1 | 0.9 mi |
| 989 Dayton Ave, Saint Paul | $2,050 | 3 / 1 | 0.9 mi |
| 690 Virginia St, Saint Paul | $1,500 | 3 / 1 | 1.1 mi |
| 653 Galtier St, Saint Paul | $1,750 | 3 / 1.5 | 1.1 mi |
| 610 N Capitol Blvd Unit 3, Saint Paul | $1,650 | 3 / 1 | 1.4 mi |
| 764 Capitol Hts Unit 2, Saint Paul | $1,800 | 3 / 1 | 1.4 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
- highNo rents, leases or occupancy given; the pitch rests on 'immediate cash flow potential' with no numbers. Listing says: this duplex offers immediate cash flow potential combined with long-term redevelopment upside · AI review
- mediumFire-inspection grade C: more deficiencies than typical; expect more frequent inspections and repair orders. Public record: St. Paul Certificate of Occupancy – Residential: 549 SELBY AVE, grade/tier=C, status=Renewal Due
- medium$1,008 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 012823220118: special assessments (payable 2026) = $1,008.46
- mediumAsking is $227,587 above the price where cash flow breaks even ($294,913) at the default scenario. Based on: Derived: price $522,500 vs. break-even $294,913
- mediumProjected utility bill-backs (RUBS) are not income yet, and in St. Paul they may count toward the 3% cap. Listing says: "are currently partially owner-paid, with ownership implementing a RUBS utility reimbursement program across the portfolio beginning Q3"
- mediumOwner pays part of utilities, but which ones is unstated. This hits expenses directly. Listing says: Utilities are currently partially owner-paid · AI review
- mediumDark staining low on the bedroom wall suggests moisture or mold; source unknown. Based on: photo 9 · AI review
- mediumRental license expired in 2024 and shows renewal due; confirm it is current. Based on: data: city.rental_license · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 143 days on market
- Original hardwood floors, wide trim and bay windows look sound and could support rent after cosmetic work. Based on: photo 2 · AI review
- Walkable Cathedral Hill location with transit and dining supports tenant demand. Listing says: walkable access to cafes, restaurants, bars, boutique shopping, the Blair Arcade district, public transportation · AI review
Questions for the agent
- What are the current rents, lease end dates and deposits for each unit? Can you send the rent roll?
- Which utilities does the owner pay, and what were the trailing-12 bills?
- What are the $1,008 in special assessments for, and does the seller pay them off at closing?
- Is the rental license current, and what were the C-grade fire inspection deficiencies?
- What is the age and condition of the roof, boiler or furnace, and electrical panels?
- Why has it sat 143 days, and has the price changed?
Bottom line
A pretty historic duplex priced about $228K above where the math works, with no rents disclosed and signs of deferred maintenance. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $8,122 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $3,085 |
| 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 1888: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-05-15 (143 days); down $52,250 (9.1%) from the first ask of $574,750.
| Date | Event | Price |
|---|---|---|
| Price changed | $522,500 | |
| Price changed | $550,000 | |
| Relisted | $574,750 | |
| Removed | — | |
| Listed | $574,750 |
County record Public record
| Recorded as | two family dwelling - up/dwn |
| Living units | 2 |
| Year built | 1888 |
| Market value (2026) | $399,300 |
| Property tax, payable 2026 | $8,122 |
| Special assessments | $1,008 |
| Homestead | no |
| Last sale | — |
Source: Ramsey County parcel records.
City rental certificate (CofO)
Residential 2 Units: 2 unit(s), C, status renewal due, renews 2024-07-01.
Nearest highway
I 94, about 546 m away.
Crime in Summit – University
1,066 incidents in the last 12 months (59 per 1,000 residents), −13% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.