687 Aurora Ave

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 2,504 sq ft

Saint Paul, MN · Summit – University (Rondo, Cathedral Hill) · View the listing ↗

Overpriced

18 photos

Photos courtesy of BRIDGE REALTY, LLC., via Realtor.com.

Asking price: $349,900
Monthly cash flow: −$644
Estimated rent: $2,950/mo
Break-even price: $228,842

Adjust the numbers See the full breakdown

From the listing

Well-maintained up-and-down duplex located in St. Paul. This property features two separate units, offering a great opportunity for owner-occupants or investors. Live in one unit while renting the other, or add a solid rental property to your portfolio. Lower unit is currently vacant, providing immediate opportunity, while the upper unit is occupied. Owner covers water, sewer, and trash, while tenants pay electricity and gas, making for a favorable investment setup. Conveniently located near schools, shopping, restaurants, and public transportation with easy access to major highways.

Listing courtesy of BRIDGE REALTY, LLC. (Glory Byakweli). Description from Realtor.com, MLS #7055006. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This St. Paul up/down is asking $349,900 and has sat 174 days, and our numbers say it doesn't work: about -$644/month at 20% down and a 4.2% cap rate, with break-even near $228,842. No rents are stated, and our estimate is only about $1,475 per 2-bed unit. The owner pays water, sewer and trash, and taxes are $7,213 non-homestead, which is a heavy load against those rents. The photos show a refreshed lower unit with vinyl plank floors, new-looking bath tile and white kitchen cabinets, but the rental license expired in 2024, so check that first. It's only worth a showing if the seller comes down a long way or you plan to live in one unit.

Things to consider

Price is far above what the rents support Underwriting shows negative cash flow and a break-even price roughly $121K below ask. Only a large cut or owner-occupancy makes it work.
Upper unit income is unverified The description gives no rent or lease. With a 3% cap on sitting tenants, an under-market rent will be slow to fix.Listing says: “while the upper unit is occupied”
Owner pays water, sewer and trash These costs reduce net income and rise over time. Ask for 12 months of bills.Listing says: “Owner covers water, sewer, and trash”
Rental license and special assessments need checking An expired license can block leasing and the assessments add cost at closing.
Lower unit appears refreshed, upper unit unseen Cosmetic updates help lease-up, but unseen systems are the real cost risk in a 1905 building.From photo 5

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: $349,900
Cash to close: $80,477
Price per unit: $174,950
GRM: 9.9

Each month

Cash flow: −$644/mo
Cash-on-cash: −9.6%
Cap rate: 4.2%
DSCR: 0.65×

Break-even

Price that breaks even: $228,842
Rent that breaks even: $3,787/mo

Long run

Year 30: property vs stocks: $860K vs $988K
Cash flow turns positive: year 18

Monthly

Monthly breakdown

Rent	$2,950
Vacancy (6%)	−$177
Collected	$2,773
Property tax Public record	−$601
Insurance Estimate	−$222
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$236
Capital reserve (9% of rent)	−$266
Net operating income	$1,218
Mortgage (principal + interest)	−$1,862
Cash flow	−$644
Principal paid down (equity, not cash)	$237

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$860,132

Your equity when you sell: $798,341
Rental profits, invested at 7%: $61,791

Same money in stocks$987,824

Cash to close, invested at 7%: $612,611
Monthly shortfalls, invested: $375,212

Stocks come out $127,692 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 $860K, stocks $988K. 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.

2 bed estimate $1,475/mo · range $1,325–$1,750 · 14 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	0.1 mi	2025-01-03	Apartment
769 University Ave W, Saint Paul	$1,155	2 / 1	—	0.2 mi	2026-08-03	Apartment
787-789 Aurora Ave, Saint Paul	$1,425	2 / 1	888	0.2 mi	2026-09-15	Apartment
490 Charles Ave Apt 3, Saint Paul	$1,400	2 / 1	750	0.5 mi	—	Apartment
579 Van Buren Ave, Saint Paul	$1,275	2 / 1	800	0.6 mi	—	Apartment
640 Dayton Ave, Saint Paul	$1,900	2 / 1	1,080	0.6 mi	2026-09-26	Duplex triplex
655 Selby Ave, Saint Paul	$1,300	2 / 1	842	0.6 mi	2026-09-24	Apartment
228 Victoria St N Apt 2, Saint Paul	$1,695	2 / 1	1,000	0.6 mi	2026-09-01	Apartment
755 Selby Ave, Saint Paul	$1,500	2 / 1	1,003	0.6 mi	2026-02-18	Apartment
826 Selby Ave Apt 2, Saint Paul	$1,700	2 / 1	1,200	0.7 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

mediumAsking is $121,058 above the price where cash flow breaks even ($228,842) at the default scenario. Based on: Derived: price $349,900 vs. break-even $228,842
mediumRental license shows renewal due, with an expiry date in 2024. Confirm it is current and that no violations are open. Based on: data: city.rental_license · AI review
mediumHeavy non-homestead tax bill relative to the likely rents, which drags cash flow negative. Based on: data: county.tax · AI review
mediumDescription gives no rents, lease terms or expenses for the occupied upper unit. Income is unverified. Listing says: while the upper unit is occupied · AI review
low$432 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 352923410014: special assessments (payable 2026) = $432.50
lowProperty sits about 357 m from I-94, so noise may weigh on rents and resale. Based on: data: highway · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 174 days on market
Vacant lower unit allows a rent reset and showing without a sitting tenant, so the 3% cap doesn't constrain it. Listing says: Lower unit is currently vacant, providing immediate opportunity · AI review
Owner-occupant option: live in one unit and rent the other to lower the carrying cost. Listing says: Live in one unit while renting the other · AI review
174 days on market suggests room to negotiate hard. Based on: data: listing.days_on_market · AI review

Questions for the agent

What does the upper tenant pay, and what are the lease end date and deposit terms?
Is the rental license current, and were there any inspection orders?
What are the $432 special assessments for, and will the seller pay them at closing?
What are the ages of the roof, furnace or boiler, water heater and electrical panels?
Are the heating and utility meters separate for each unit?
Why has it sat 174 days, and has the price been cut?

Bottom line

A tidy-looking brick duplex priced about $120K above what its rents support, so only worth pursuing at a much lower price. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)	$7,214
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,669
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 2026-04-14 (174 days); down $15,100 (4.1%) from the first ask of $365,000; last sold for $323,500 on 2021-05-05.

Date	Event	Price
2026-07-04	Removed	$365,000
2026-05-05	Price changed	$349,900
2026-04-14	Listed	$365,000
2021-05-05	Sold	$323,500
2021-03-27	Listed	$315,000

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1905
Market value (2026)	$313,200
Property tax, payable 2026	$7,214
Special assessments	$432
Homestead	no
Last sale	2021-05-05 · $323,500

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), A, status renewal due, renews 2024-08-02.

Nearest highway

I 94, about 357 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.