572 Ottawa Ave

Duplex · 2 units: 4 bed / 1 bath ×2 unit split estimated · 4,462 sq ft

Saint Paul, MN · West Side (Cherokee Heights, District del Sol) · View the listing ↗

13 photos

Photos, via Realtor.com.

Asking price: $432,250
Monthly cash flow: −$209
Estimated rent: $4,000/mo
Break-even price: $392,967

Adjust the numbers See the full breakdown

From the listing

Rare opportunity to own an up-and-down duplex featuring two large 4-bedroom units in St Pauls highly desirable West Side neighborhood. Large-format rental units of this size are increasingly difficult to find and continue to experience strong tenant demand due to their flexibility, functionality, and long-term rental appeal. Located just one block from Smith Avenue, the property offers convenient access to public transportation, neighborhood restaurants, shopping, and major commuter routes. Residents also enjoy close proximity to Cherokee Park and downtown St Paul. The West Side continues to see strong neighborhood growth and consistent rental demand driven by its accessibility, neighborhood character, and proximity to downtown employment centers. Utilities are currently partially owner-paid, with ownership implementing a RUBS utility reimbursement program across the portfolio beginning Q3 2026. Future ownership will have the opportunity to improve NOI through utility cost recovery and operational efficiencies. Excellent value-add opportunity in one of St Pauls strongest rental neighborhoods.

Description from Realtor.com, MLS #7074176. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

Two 4-bedroom units at $432K, and our underwriting shows about -$209/month at the asking price with a 5.8% cap rate. Break-even is near $393K, so the price needs to come down to work. The listing gives no rents, no leases and no expenses, so the first thing to get is a rent roll and a trailing-12 of owner-paid utilities. It has been listed 143 days, so there should be room to negotiate. Photos show decent but dated interiors, and the county lists the building as side-by-side while the listing says up-and-down, so confirm the layout. Worth a showing only if the seller will deal near $390K or less and the rent roll holds up.

Things to consider

Cash flow is negative at ask Our underwriting shows about -$209/month at the asking price, so the price needs to drop for this to work at today's rates.
Income is unverified The listing gives no rents or leases. Without a rent roll you can't tell whether our $2,000 mid estimate is realistic.
RUBS is a projection, not income Billing tenants back for utilities may not be allowed on current leases and could count toward St. Paul's 3% cap.Listing says: “ownership implementing a RUBS utility reimbursement program across the portfolio beginning Q3 2026”
Taxes are higher for an investor and assessments add cost The $5,415 tax bill is non-homestead, and $863 in special assessments needs explaining before closing.
Heavy wear on large units Eight bedrooms means more tenants and more turnover, so reserves and repairs should run higher.Listing says: “two large 4-bedroom units”

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: $432,250
Cash to close: $99,418
Price per unit: $216,125
GRM: 9.0

Each month

Cash flow: −$209/mo
Cash-on-cash: −2.5%
Cap rate: 5.8%
DSCR: 0.91×

Break-even

Price that breaks even: $392,967
Rent that breaks even: $4,275/mo

Long run

Year 30: property vs stocks: $1.58M vs $796K
Cash flow turns positive: year 5

Monthly

Monthly breakdown

Rent	$4,000
Vacancy (6%)	−$240
Collected	$3,760
Property tax Public record	−$451
Insurance Estimate	−$267
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$360
Capital reserve (9% of rent)	−$360
Net operating income	$2,092
Mortgage (principal + interest)	−$2,301
Cash flow	−$209
Principal paid down (equity, not cash)	$293

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

If you buy this building$1,583,289

Your equity when you sell: $986,233
Rental profits, invested at 7%: $597,056

Same money in stocks$795,630

Cash to close, invested at 7%: $756,791
Monthly shortfalls, invested: $38,838

The building comes out $787,659 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 $1.58M, stocks $796K. The property wins.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.

4 bed / 1 bath estimate $2,000/mo · range $1,475–$2,500

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
592 Ottawa Ave, Unit 2, Saint Paul 55107 off market	$2,300	4 / 1	2,000	0.0 mi	2022-08-07	87%
61 Delos St, Apt W4, Saint Paul 55107	$1,750	4 / 1	1,400	0.8 mi	2026-10-05	82%
61 Delos St, Apt W3, Saint Paul 55107 off market	$1,895	4 / 1	1,400	0.8 mi	2026-09-02	82%
61 Delos St W, Apt 4, Saint Paul 55107 off market	$2,000	4 / 1	1,400	0.8 mi	2026-06-28	82%
61 Delos St W, Apt 3, Saint Paul 55107 off market	$2,000	4 / 1	1,400	0.8 mi	2026-06-28	82%
385 Clinton Ave, Saint Paul 55107 off market	$2,495	4 / 2	2,176	1.2 mi	2026-01-31	81%
554 Bellows St, Apt 8, Saint Paul 55107	$1,000	1 / 1	—	0.5 mi	2026-10-05	74%
554 Bellows St, Saint Paul 55107	$1,075	2 / 1	—	0.5 mi	2025-06-23	74%
554 Bellows St, Apt 11, Saint Paul 55107	$1,075	2 / 1	—	0.5 mi	2026-10-02	74%
554 Bellows St, Apt 10, Saint Paul 55107 off market	$1,075	1 / 1	—	0.5 mi	2026-05-01	74%

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

highNo rents, lease terms or expenses given; income is unverified. Listing says: Utilities are currently partially owner-paid · AI review
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"
mediumLayout conflict: the county says side-by-side, but the listing says up-and-down. Confirm the actual unit layout and entrances. Based on: data: county.dwelling_type · AI review
mediumRental license is only pending, so the licensed status of both units isn't confirmed. Based on: data: city.rental_license · AI review
low$863 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 072822230084: special assessments (payable 2026) = $863.46
lowPhotos show a single radiator-heat style (cast-iron radiators) in a 1911 building; the county lists central heat. Heating setup and age are unclear. Based on: photo 6 · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 143 days on market
Price is about $39K above our break-even, and 143 days on market gives negotiating room. Based on: data: underwriting.break_even_price · AI review
Large 4-bed units can draw strong demand and our mid estimate is $2,000 each. Verify against actual rents. Based on: data: rent_estimate · AI review

Questions for the agent

What are the current rents and lease end dates for each unit, and are any month-to-month?
Which utilities does the owner pay now, and what were they over the last 12 months?
What are the $863 special assessments for, and are they paid off at closing?
Is the layout up-and-down or side-by-side, and is each unit separately metered for gas and electric?
How old are the roof, boilers or furnace, water heaters and electrical panels?
Why has it sat for 143 days, and have there been offers or price cuts?

Bottom line

Big 4-bed units in a solid rental area, but at $432K it loses money monthly, so only pursue it well below ask and with a real 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)	$5,415
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,207
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 1911: +1 pt capital reserve; 8 bedrooms: +1 pt repairs for wear	9% / 9%

Price history Realtor.com

On the market since 2026-05-15 (143 days); down $38,000 (8.1%) from the first ask of $470,250.

Date	Event	Price
2026-08-11	Price changed	$432,250
2026-06-26	Price changed	$455,000
2026-06-25	Relisted	$470,250
2026-06-24	Removed	—
2026-05-15	Listed	$470,250

County record Public record

Recorded as	two family dwelling - side/side
Living units	2
Year built	1911
Market value (2026)	$256,700
Property tax, payable 2026	$5,415
Special assessments	$863
Homestead	no
Last sale	—

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), B, status pending, renews 2027-04-26.

Nearest highway

CH 37, about 891 m away.

Crime in West Side

708 incidents in the last 12 months (45 per 1,000 residents), −17% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.