St. Paul › Frogtown

658 Edmund Ave

Duplex · 2 units: 2 bed / 1 bath ×2 · 2,373 sq ft

Saint Paul, MN · Frogtown (Thomas-Dale) · View the listing ↗

Cash flows

24 photos

Photos courtesy of Re/Max Prodigy, via Realtor.com.

Asking price: $235,000
Monthly cash flow: $6
Estimated rent: $2,900/mo
Break-even price: $236,200

Adjust the numbers See the full breakdown

From the listing

Duplex Opportunity - Ideal for Owner-Occupants or Investors! Welcome to this well-maintained up-and-down duplex offering flexibility, charm, and income potential. Whether you're looking to house hack or expand your investment portfolio, this property checks all the boxes. The main level unit features 2 bedrooms, a spacious living room, a large kitchen with ample cabinetry, a full bathroom, and beautiful hardwood floors throughout. Enjoy morning coffee or evening relaxation with direct access to the inviting front porch. The upper level unit also offers 2 bedrooms, a comfortable living room, a functional kitchen, a 3/4 bathroom, and hardwood floors. Third bonus level with tons of extra space. This unit includes convenient access to the rear of the property, providing added privacy and usability. Outside, you'll find a fully fenced yard, perfect for pets or outdoor entertaining, along with a 1-car attached garage for added convenience. Live in one unit and rent the other to offset your mortgage, or lease both units for strong cash flow potential. A fantastic opportunity in a convenient St. Paul location!

Listing courtesy of Re/Max Prodigy (Corey Mccracken). Description from Realtor.com, MLS #7046805. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 2-bed over 2-bed up/down in Frogtown at $235K, and our model shows about $6/mo cash flow and a 6.4% cap at the ask, so it roughly breaks even with no cushion. The description says 'well-maintained', but the photos show original radiators, stained walls and floors, and a kitchen with cosmetic updates only, so expect real work. There are no rents or lease details in the listing, so the income is entirely our estimate of about $1,450 per unit. It has sat 187 days after a January 2026 sale with no price shown, so find out why the last owner sold fast and why it hasn't moved. Check the heating setup, the water stains, and the special assessments before you pay for a showing.

Things to consider

No margin at the asking price About $6/mo cash flow on estimated rents leaves no room for repairs, vacancy or a rent shortfall. Any needed work would turn it negative.
Rents are unverified The listing gives no rents or leases. Our $1,450 per unit is an estimate, and if a sitting tenant pays less, St. Paul's 3% cap limits how quickly you can raise it.
Special assessments add to carrying cost $2,130 on the tax bill is a meaningful extra expense if it recurs, and the non-homestead tax is already about $6,318.
Condition looks worse than 'well-maintained' Photos show water stains, worn plaster and unfinished-looking rooms. Budget for repairs before you count on the cash flow.From photo 7
Rental license is pending You need a licensed 2-unit building to rent legally in St. Paul, and a pending status could mean required repairs from an inspection.
Heat and utility setup unclear If one boiler serves both units, the owner probably pays the gas bill, which cuts cash flow.From photo 6

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: $235,000
Cash to close: $54,050
Price per unit: $117,500
GRM: 6.8

Each month

Cash flow: $6/mo
Cash-on-cash: 0.1%
Cap rate: 6.4%
DSCR: 1.01×

Break-even

Price that breaks even: $236,200
Rent that breaks even: $2,892/mo

Long run

Year 30: property vs stocks: $984K vs $411K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,900
Vacancy (6%)	−$174
Collected	$2,726
Property tax Public record	−$526
Insurance Estimate	−$219
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$232
Capital reserve (9% of rent)	−$261
Net operating income	$1,257
Mortgage (principal + interest)	−$1,251
Cash flow	$6
Principal paid down (equity, not cash)	$159

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$984,034

Your equity when you sell: $536,183
Rental profits, invested at 7%: $447,852

Same money in stocks$411,442

Cash to close, invested at 7%: $411,442

The building comes out $572,592 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 $984K, stocks $411K. 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 $1,450/mo · range $1,325–$1,525 · 8 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
627 Aurora Ave W, Saint Paul	$1,300	2 / 1	699	0.2 mi	2025-01-03	Apartment
769 University Ave W, Saint Paul	$1,155	2 / 1	—	0.3 mi	2026-08-03	Apartment
579 Van Buren Ave, Saint Paul	$1,275	2 / 1	800	0.3 mi	—	Apartment
787-789 Aurora Ave, Saint Paul	$1,425	2 / 1	888	0.3 mi	2026-09-15	Apartment
490 Charles Ave Apt 3, Saint Paul	$1,400	2 / 1	750	0.3 mi	—	Apartment
409 Lafond Ave Apt 2, Saint Paul	$1,450	2 / 1	1,000	0.5 mi	2021-12-23	Apartment
336 Edmund Ave Unit 1, Saint Paul	$1,400	2 / 1	725	0.7 mi	2026-09-23	Apartment
1010 Lafond Ave Apt 1, Saint Paul	$1,225	2 / 1	750	0.7 mi	2024-07-01	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

medium$2,130 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 352923140103: special assessments (payable 2026) = $2,130.42
mediumRental license is only Pending, so the licensed unit count and inspection status are unconfirmed Based on: data: city.rental_license · AI review
mediumWater staining on the wall under the window and along the baseboard suggests a past or current leak Based on: photo 7 · AI review
lowChanged hands in Jan 2026; the county record doesn't show a price. Ask what the seller paid and what changed since. Public record: Ramsey County parcel 352923140103: last sale 2026-01-14
lowThird-floor attic space is described as bonus space; it should not be counted as a bedroom or unit without egress and a permit Listing says: Third bonus level with tons of extra space. · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 187 days on market
Owner-occupy one unit and rent the other to offset the mortgage Listing says: Live in one unit and rent the other to offset your mortgage · AI review
Finished-looking attic could add usable space, such as storage or a bedroom if code allows Based on: photo 10 · AI review
187 days on market gives room to negotiate Based on: data: listing.days_on_market · AI review

Questions for the agent

What are the current rents, lease types and lease end dates, or is either unit vacant?
What are the $2,130 in special assessments for, and will the seller pay them at closing?
How is it heated: one boiler, or separate systems? The county says central, but the photos show radiators.
What did the seller pay in January 2026, and why has it sat since April?
What is the status of the rental license, and are there any open city inspection orders?
How old are the roof, the electrical panel and the plumbing, and where does the water staining in the upper bedroom come from?

Bottom line

Numbers are break-even at $235K; the real questions are heat, leaks, assessments and the pending rental license. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)	$6,318
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,633
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 1905: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-04-01 (187 days); down $45,000 (16.1%) from the first ask of $280,000; last sold for $284,900 on 2022-09-19.

Date	Event	Price
2026-08-13	Price changed	$235,000
2026-07-09	Price changed	$245,000
2026-06-07	Price changed	$260,000
2026-05-04	Price changed	$270,000
2026-04-01	Listed	$280,000
2022-09-19	Sold	$284,900
2022-06-29	Price changed	$279,900
2022-06-23	Listed	$299,999
2022-04-04	Sold public record	$157,000
2022-04-01	Sold public record	$137,500

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1905
Market value (2026)	$285,600
Property tax, payable 2026	$6,318
Special assessments	$2,130
Homestead	no
Last sale	2026-01-14

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), B, status pending, renews 2027-12-19.

Nearest highway

I 94, about 705 m away.

Crime in Frogtown

824 incidents in the last 12 months (53 per 1,000 residents), −26% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.