620 Cook Ave E

Duplex · 2 units: 1 bed / 1 bath ×2 unit split estimated · 1,376 sq ft

Saint Paul, MN · Payne – Phalen (Railroad Island) · View the listing ↗

Overpriced

24 photos

Photos courtesy of Exp Realty - Broker, via Realtor.com.

Asking price: $210,000
Monthly cash flow: −$271
Estimated rent: $2,050/mo
Break-even price: $159,045

Adjust the numbers See the full breakdown

From the listing

Opportunity knocks on the East Side of Saint Paul! This classic up-and-down duplex offers a great opportunity for an owner-occupant, house hacker, or investor looking to add a solid income-producing property to their portfolio. The property features two separate 1-bedroom, 1-bath units, each with its own living, dining, and kitchen areas, providing flexibility for rental income or owner occupancy. A full unfinished basement offers additional storage and utility space, while the shared porch/deck provides a convenient outdoor area. Whether you're looking to live in one unit while generating rental income from the other, or seeking a straightforward two-unit investment, this property offers multiple possibilities.

Listing courtesy of Exp Realty - Broker (Sedat Memetov). Description from Realtor.com, MLS #7144985. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 1886 up/down with two 1-bed units, listed at $210K. Our numbers show about -$271/mo at the ask with a 4.8% cap rate, and break-even is near $159K, so the price is roughly $50K too high for these rents. The description gives no rents, no lease status, no utility info and no repair history, and the photos show dated, basic finishes. Ask for the rent roll, the special assessment details and heat setup first. It is only worth a showing if the seller will come down hard or if you plan to live in one unit.

Things to consider

Price is well above what rents support At the ask, cash flow is about -$271/mo and the cap rate is 4.8%. Break-even is about $159K, so negotiating room matters.
Special assessments add a hidden cost $3,044 on the tax bill is a large amount for a $210K property. If the buyer inherits it, it cuts returns.
Income is unverified No rents or tenant info are given. Our estimate is about $1,025 per unit, and St. Paul caps rent increases on sitting tenants at 3%.
Investor taxes may be higher than the current bill Tax is shown as non-homestead at $3,666, but check whether it will change after sale or reassessment.
Old building with unknown systems An 1886 build means possible knob-and-tube or old wiring, plumbing and foundation issues. Budget for an inspection before you commit.

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: $210,000
Cash to close: $48,300
Price per unit: $105,000
GRM: 8.5

Each month

Cash flow: −$271/mo
Cash-on-cash: −6.7%
Cap rate: 4.8%
DSCR: 0.76×

Break-even

Price that breaks even: $159,045
Rent that breaks even: $2,402/mo

Long run

Year 30: property vs stocks: $578K vs $485K
Cash flow turns positive: year 13

Monthly

Monthly breakdown

Rent	$2,050
Vacancy (6%)	−$123
Collected	$1,927
Property tax Public record	−$305
Insurance Estimate	−$197
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$164
Capital reserve (9% of rent)	−$184
Net operating income	$847
Mortgage (principal + interest)	−$1,118
Cash flow	−$271
Principal paid down (equity, not cash)	$142

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$578,363

Your equity when you sell: $479,141
Rental profits, invested at 7%: $99,221

Same money in stocks$484,526

Cash to close, invested at 7%: $367,672
Monthly shortfalls, invested: $116,854

The building comes out $93,837 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 $578K, stocks $485K. 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.

1 bed estimate $1,025/mo · range $900–$1,150 · 21 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
556 Jenks Ave E Unit 4, Saint Paul	$1,000	1 / 1	—	0.2 mi	2026-08-19	Apartment
650 Aguirre St, Saint Paul	$1,437	1 / 1	645	0.4 mi	2025-05-28	Apartment
870 E Cook Ave Unit 3, Saint Paul	$900	1 / 1	580	0.5 mi	—	Apartment
616 Ivy Ave E, Saint Paul	$1,150	1 / 1	502	0.6 mi	2026-03-20	Apartment
1205 Westminster St, Saint Paul	$965	1 / 1	600	0.7 mi	2025-01-03	Apartment
1337 Arkwright St N Unit 303, Saint Paul	$925	1 / 1	625	0.8 mi	—	Apartment
1337 Arkwright St N, Saint Paul	$995	1 / 1	500	0.8 mi	2025-01-03	Apartment
658 Greenbrier St, Saint Paul	$1,157	1 / 1	750	0.8 mi	2026-02-25	Apartment
1332 Mississippi St, Saint Paul	$1,049	1 / 1	586	0.9 mi	2026-01-27	Apartment
1511 Westminster St Apt 208, Saint Paul	$885	1 / 1	650	1.1 mi	—	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

highNo rents, lease status or occupancy given. Income is unverified and the unit may be vacant or owner-occupied. Listing says: offers a great opportunity for an owner-occupant, house hacker, or investor · AI review
highAsk is far above the break-even price for these rents, so it does not cash flow at today's rates. Based on: data: underwriting.break_even_price · AI review
medium$3,044 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 292922130063: special assessments (payable 2026) = $3,044.42
mediumRental license is only 'Pending'. Confirm both units are licensed and legal. Based on: data: city.rental_license · AI review
medium1886 building with unknown wiring, plumbing and foundation condition. Description says nothing about systems. Based on: data: listing.year_built · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 19 days on market, 2 price cuts
House-hack: live in one unit and rent the other to offset the carrying cost. Listing says: a great opportunity for an owner-occupant, house hacker, or investor · AI review
Unfinished basement could add storage or utility space, and possibly laundry. Listing says: A full unfinished basement offers additional storage and utility space · AI review
Dated, basic interiors mean rents may rise after a modest refresh, though sitting tenants are capped at 3%/yr. Based on: photo 3 · AI review

Questions for the agent

Are both units occupied? What are the current rents, lease terms and move-in dates?
What are the $3,044 in special assessments for, and will the seller pay them at closing?
Is there one heating system or two? Who pays gas, electric and water, and are there separate meters?
What are the ages of the roof, furnace, water heater and electrical panel?
What did the seller pay in 2022, and why has it sat 19 days at this price?
Is the rental license issued, and does it list two units?

Bottom line

Basic 1-bed/1-bed up/down that loses money at $210K; it works only at a much lower price or as a house hack. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)	$3,666
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,358
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 1886: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-06-28 (99 days, relisted 1×); down $8,300 (3.8%) from the first ask of $218,300; last sold for $32,000 on 2014-10-11.

Date	Event	Price
2026-09-16	Listed	$210,000
2026-06-29	Removed	$212,600
2026-06-28	Removed	$214,900
2026-06-28	Removed	$218,300
2021-11-29	Removed	$196,900
2021-07-05	Listed	$196,900
2021-03-18	Removed	$114,500
2019-10-11	Removed	$207,000
2015-05-14	Removed	$114,500
2015-03-27	Listed	$114,500
2014-10-11	Sold	$32,000
2014-09-03	Price changed	$39,900
2014-08-11	Listed	$50,000
2014-06-20	Removed	$49,900
2014-03-15	Price changed	$49,900
2014-01-08	Listed	$60,000
2013-10-03	Removed	$60,000
2013-08-20	Listed	$60,000
2007-11-28	Sold public record	$65,700

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1886
Market value (2026)	$192,100
Property tax, payable 2026	$3,666
Special assessments	$3,044
Homestead	no
Last sale	2022-09-28

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), A, status pending, renews 2028-08-18.

Nearest highway

I 35E;US 10, about 1113 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.