701 Desoto St
Duplex · 2 units: 3 bed / 1 bath ×2 unit split estimated · 1,519 sq ft
Saint Paul, MN · Payne – Phalen (Railroad Island) · View the listing ↗
Photos courtesy of Keller Williams Classic Realty Northwest, via Realtor.com.
- Asking price
- $249,000 2 units · $124K per unit
- Monthly cash flow
- $445 at 20% down, 7%
- Estimated rent
- $3,350/mo medium confidence
- Break-even price
- $332,662 where cash flow hits $0
First look
Short listing, so the numbers carry the analysis. At $249K our model shows about $445/month cash flow and an 8.5% cap rate using $1,675 estimated rents on two 3-beds, but nobody has verified those rents, and the description gives no actual rent for the occupied side. The exterior looks recently refreshed, but the interior photos show basic cosmetic finishes and tell us nothing about the boiler, panel or roof. It sat 186 days after selling for $425K in Oct 2025, and the county values it at $223,900, so find out what happened before trusting the price. Worth a showing only if the rent roll, rental license status and systems check out.
Things to consider
- Rents are unverified Cash flow of $445/month depends on our $1,675 estimate per unit. The occupied unit's actual rent could be lower, and the 3% cap limits increases for that tenant.Listing says: “One side is vacant and the other is rented out with a month-to-month lease.”
- Month-to-month tenant and a vacant unit Expect turnover and lease-up costs right after closing, so you start with possibly zero or half the income.
- Sale history and price A $425K sale 11 months ago versus a $249K ask suggests either distress or a failed rehab. That affects negotiating and what repairs may be hiding.
- Rental license status A lapsed license can block collecting rent or force a new inspection with required repairs.
- Systems and interiors unseen Heat, wiring and roof on an 1887 building can cost thousands. Cosmetic finishes in photos do not show their condition.
- Taxes and assessments Non-homestead tax of $4,550 plus $432 in assessments eats into the cap rate.
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
- $249,000
- Cash to close
- $32,370
- Price per unit
- $124,500
- GRM
- 6.2
Each month
- Cash flow
- $140/mo
- Cash-on-cash
- 5.2%
- Cap rate
- 8.5%
- DSCR
- 1.09×
Break-even
- Price that breaks even
- $270,306
- Rent that breaks even
- $3,169/mo
Long run
- Year 30: property vs stocks
- $1.51M vs $246K
- Cash flow turns positive
- year 1
The deal
- Price
- $249,000
- Cash to close
- $32,370
- Price per unit
- $124,500
- GRM
- 6.2
Each month
- Cash flow
- −$144/mo
- Cash-on-cash
- −5.3%
- Cap rate
- 7.2%
- DSCR
- 0.91×
Break-even
- Price that breaks even
- $227,039
- Rent that breaks even
- $3,560/mo
Long run
- Year 30: property vs stocks
- $1.10M vs $273K
- Cash flow turns positive
- year 5
The deal
- Price
- $239,000
- Cash to close
- $31,070
- Price per unit
- $119,500
- GRM
- 5.9
Each month
- Cash flow
- $205/mo
- Cash-on-cash
- 7.9%
- Cap rate
- 8.9%
- DSCR
- 1.13×
Break-even
- Price that breaks even
- $270,306
- Rent that breaks even
- $3,084/mo
Long run
- Year 30: property vs stocks
- $1.56M vs $237K
- Cash flow turns positive
- year 1
The deal
- Price
- $239,000
- Cash to close
- $31,070
- Price per unit
- $119,500
- GRM
- 5.9
Each month
- Cash flow
- −$78/mo
- Cash-on-cash
- −3.0%
- Cap rate
- 7.5%
- DSCR
- 0.95×
Break-even
- Price that breaks even
- $227,039
- Rent that breaks even
- $3,464/mo
Long run
- Year 30: property vs stocks
- $1.13M vs $246K
- Cash flow turns positive
- year 3
The deal
- Price
- $249,000
- Cash to close
- $57,270
- Price per unit
- $124,500
- GRM
- 6.2
Each month
- Cash flow
- $445/mo
- Cash-on-cash
- 9.3%
- Cap rate
- 8.5%
- DSCR
- 1.34×
Break-even
- Price that breaks even
- $332,662
- Rent that breaks even
- $2,772/mo
Long run
- Year 30: property vs stocks
- $1.75M vs $436K
- Cash flow turns positive
- year 1
The deal
- Price
- $249,000
- Cash to close
- $57,270
- Price per unit
- $124,500
- GRM
- 6.2
Each month
- Cash flow
- $162/mo
- Cash-on-cash
- 3.4%
- Cap rate
- 7.2%
- DSCR
- 1.12×
Break-even
- Price that breaks even
- $279,413
- Rent that breaks even
- $3,114/mo
Long run
- Year 30: property vs stocks
- $1.30M vs $436K
- Cash flow turns positive
- year 1
The deal
- Price
- $239,000
- Cash to close
- $54,970
- Price per unit
- $119,500
- GRM
- 5.9
Each month
- Cash flow
- $499/mo
- Cash-on-cash
- 10.9%
- Cap rate
- 8.9%
- DSCR
- 1.39×
Break-even
- Price that breaks even
- $332,662
- Rent that breaks even
- $2,703/mo
Long run
- Year 30: property vs stocks
- $1.78M vs $418K
- Cash flow turns positive
- year 1
The deal
- Price
- $239,000
- Cash to close
- $54,970
- Price per unit
- $119,500
- GRM
- 5.9
Each month
- Cash flow
- $215/mo
- Cash-on-cash
- 4.7%
- Cap rate
- 7.5%
- DSCR
- 1.17×
Break-even
- Price that breaks even
- $279,413
- Rent that breaks even
- $3,036/mo
Long run
- Year 30: property vs stocks
- $1.34M vs $418K
- Cash flow turns positive
- year 1
The deal
- Price
- $249,000
- Cash to close
- $69,720
- Price per unit
- $124,500
- GRM
- 6.2
Each month
- Cash flow
- $528/mo
- Cash-on-cash
- 9.1%
- Cap rate
- 8.5%
- DSCR
- 1.43×
Break-even
- Price that breaks even
- $354,839
- Rent that breaks even
- $2,664/mo
Long run
- Year 30: property vs stocks
- $1.84M vs $531K
- Cash flow turns positive
- year 1
The deal
- Price
- $249,000
- Cash to close
- $69,720
- Price per unit
- $124,500
- GRM
- 6.2
Each month
- Cash flow
- $245/mo
- Cash-on-cash
- 4.2%
- Cap rate
- 7.2%
- DSCR
- 1.20×
Break-even
- Price that breaks even
- $298,041
- Rent that breaks even
- $2,993/mo
Long run
- Year 30: property vs stocks
- $1.40M vs $531K
- Cash flow turns positive
- year 1
The deal
- Price
- $239,000
- Cash to close
- $66,920
- Price per unit
- $119,500
- GRM
- 5.9
Each month
- Cash flow
- $578/mo
- Cash-on-cash
- 10.4%
- Cap rate
- 8.9%
- DSCR
- 1.48×
Break-even
- Price that breaks even
- $354,839
- Rent that breaks even
- $2,599/mo
Long run
- Year 30: property vs stocks
- $1.87M vs $509K
- Cash flow turns positive
- year 1
The deal
- Price
- $239,000
- Cash to close
- $66,920
- Price per unit
- $119,500
- GRM
- 5.9
Each month
- Cash flow
- $295/mo
- Cash-on-cash
- 5.3%
- Cap rate
- 7.5%
- DSCR
- 1.25×
Break-even
- Price that breaks even
- $298,041
- Rent that breaks even
- $2,920/mo
Long run
- Year 30: property vs stocks
- $1.43M vs $509K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Net operating income | $1,771 |
| Mortgage (principal + interest) | −$1,491 |
| PMI | −$140 |
| Cash flow | $140 |
| Principal paid down (equity, not cash) | $190 |
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Property management | −$283 |
| Net operating income | $1,487 |
| Mortgage (principal + interest) | −$1,491 |
| PMI | −$140 |
| Cash flow | −$144 |
| Principal paid down (equity, not cash) | $190 |
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Net operating income | $1,771 |
| Mortgage (principal + interest) | −$1,431 |
| PMI | −$134 |
| Cash flow | $205 |
| Principal paid down (equity, not cash) | $182 |
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Property management | −$283 |
| Net operating income | $1,487 |
| Mortgage (principal + interest) | −$1,431 |
| PMI | −$134 |
| Cash flow | −$78 |
| Principal paid down (equity, not cash) | $182 |
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Net operating income | $1,771 |
| Mortgage (principal + interest) | −$1,325 |
| Cash flow | $445 |
| Principal paid down (equity, not cash) | $169 |
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Property management | −$283 |
| Net operating income | $1,487 |
| Mortgage (principal + interest) | −$1,325 |
| Cash flow | $162 |
| Principal paid down (equity, not cash) | $169 |
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Net operating income | $1,771 |
| Mortgage (principal + interest) | −$1,272 |
| Cash flow | $499 |
| Principal paid down (equity, not cash) | $162 |
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Property management | −$283 |
| Net operating income | $1,487 |
| Mortgage (principal + interest) | −$1,272 |
| Cash flow | $215 |
| Principal paid down (equity, not cash) | $162 |
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Net operating income | $1,771 |
| Mortgage (principal + interest) | −$1,242 |
| Cash flow | $528 |
| Principal paid down (equity, not cash) | $158 |
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Property management | −$283 |
| Net operating income | $1,487 |
| Mortgage (principal + interest) | −$1,242 |
| Cash flow | $245 |
| Principal paid down (equity, not cash) | $158 |
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Net operating income | $1,771 |
| Mortgage (principal + interest) | −$1,193 |
| Cash flow | $578 |
| Principal paid down (equity, not cash) | $152 |
| Rent | $3,350 |
| Vacancy (6%) | −$201 |
| Collected | $3,149 |
| Property tax Public record | −$379 |
| Insurance Estimate | −$200 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$268 |
| Capital reserve (9% of rent) | −$302 |
| Property management | −$283 |
| Net operating income | $1,487 |
| Mortgage (principal + interest) | −$1,193 |
| Cash flow | $295 |
| Principal paid down (equity, not cash) | $152 |
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
- $568,125
- Rental profits, invested at 7%
- $946,251
Sells for $604,388 (value up 3% a year), minus 6% selling cost ($36,263). Rent paid down $224,100 of loan.
$428,074 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $246,409
$32,370 put into an index fund instead of the down payment and closing costs.
The building comes out $1,267,967 ahead after 30 years.
- Your equity when you sell
- $568,125
- Rental profits, invested at 7%
- $531,840
Sells for $604,388 (value up 3% a year), minus 6% selling cost ($36,263). Rent paid down $224,100 of loan.
$270,206 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $246,409
- Monthly shortfalls, invested
- $26,433
$32,370 put into an index fund instead of the down payment and closing costs.
$3,932 you'd have paid in while the building lost money, invested instead.
The building comes out $827,123 ahead after 30 years.
- Your equity when you sell
- $545,309
- Rental profits, invested at 7%
- $1,015,864
Sells for $580,116 (value up 3% a year), minus 6% selling cost ($34,807). Rent paid down $215,100 of loan.
$449,900 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $236,513
$31,070 put into an index fund instead of the down payment and closing costs.
The building comes out $1,324,659 ahead after 30 years.
- Your equity when you sell
- $545,309
- Rental profits, invested at 7%
- $584,723
Sells for $580,116 (value up 3% a year), minus 6% selling cost ($34,807). Rent paid down $215,100 of loan.
$289,493 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $236,513
- Monthly shortfalls, invested
- $9,703
$31,070 put into an index fund instead of the down payment and closing costs.
$1,394 you'd have paid in while the building lost money, invested instead.
The building comes out $883,816 ahead after 30 years.
- Your equity when you sell
- $568,125
- Rental profits, invested at 7%
- $1,177,368
Sells for $604,388 (value up 3% a year), minus 6% selling cost ($36,263). Rent paid down $199,200 of loan.
$494,435 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $435,954
$57,270 put into an index fund instead of the down payment and closing costs.
The building comes out $1,309,539 ahead after 30 years.
- Your equity when you sell
- $568,125
- Rental profits, invested at 7%
- $736,525
Sells for $604,388 (value up 3% a year), minus 6% selling cost ($36,263). Rent paid down $199,200 of loan.
$332,635 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $435,954
$57,270 put into an index fund instead of the down payment and closing costs.
The building comes out $868,696 ahead after 30 years.
- Your equity when you sell
- $545,309
- Rental profits, invested at 7%
- $1,237,700
Sells for $580,116 (value up 3% a year), minus 6% selling cost ($34,807). Rent paid down $191,200 of loan.
$513,595 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $418,446
$54,970 put into an index fund instead of the down payment and closing costs.
The building comes out $1,364,562 ahead after 30 years.
- Your equity when you sell
- $545,309
- Rental profits, invested at 7%
- $796,856
Sells for $580,116 (value up 3% a year), minus 6% selling cost ($34,807). Rent paid down $191,200 of loan.
$351,795 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $418,446
$54,970 put into an index fund instead of the down payment and closing costs.
The building comes out $923,719 ahead after 30 years.
- Your equity when you sell
- $568,125
- Rental profits, invested at 7%
- $1,271,259
Sells for $604,388 (value up 3% a year), minus 6% selling cost ($36,263). Rent paid down $186,750 of loan.
$524,254 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $530,726
$69,720 put into an index fund instead of the down payment and closing costs.
The building comes out $1,308,658 ahead after 30 years.
- Your equity when you sell
- $568,125
- Rental profits, invested at 7%
- $830,415
Sells for $604,388 (value up 3% a year), minus 6% selling cost ($36,263). Rent paid down $186,750 of loan.
$362,453 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $530,726
$69,720 put into an index fund instead of the down payment and closing costs.
The building comes out $867,814 ahead after 30 years.
- Your equity when you sell
- $545,309
- Rental profits, invested at 7%
- $1,327,819
Sells for $580,116 (value up 3% a year), minus 6% selling cost ($34,807). Rent paid down $179,250 of loan.
$542,217 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $509,412
$66,920 put into an index fund instead of the down payment and closing costs.
The building comes out $1,363,716 ahead after 30 years.
- Your equity when you sell
- $545,309
- Rental profits, invested at 7%
- $886,976
Sells for $580,116 (value up 3% a year), minus 6% selling cost ($34,807). Rent paid down $179,250 of loan.
$380,417 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $509,412
$66,920 put into an index fund instead of the down payment and closing costs.
The building comes out $922,873 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 $1.51M, stocks $246K. The property wins.
Year 30 (loan paid off): property $1.10M, stocks $273K. The property wins.
Year 30 (loan paid off): property $1.56M, stocks $237K. The property wins.
Year 30 (loan paid off): property $1.13M, stocks $246K. The property wins.
Year 30 (loan paid off): property $1.75M, stocks $436K. The property wins.
Year 30 (loan paid off): property $1.30M, stocks $436K. The property wins.
Year 30 (loan paid off): property $1.78M, stocks $418K. The property wins.
Year 30 (loan paid off): property $1.34M, stocks $418K. The property wins.
Year 30 (loan paid off): property $1.84M, stocks $531K. The property wins.
Year 30 (loan paid off): property $1.40M, stocks $531K. The property wins.
Year 30 (loan paid off): property $1.87M, stocks $509K. The property wins.
Year 30 (loan paid off): property $1.43M, stocks $509K. The property wins.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-02. The estimate above is RentCast's, weighted toward the closest matches.
3 bed / 1 bath estimate $1,675/mo · range $1,475–$1,875
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 653 5th St E, Saint Paul 55106 off market | $1,808 | 3 / 1 | 0.6 mi | 98% |
| 786 7th St E, Saint Paul 55106 off market | $1,599 | 3 / 1 | 0.7 mi | 96% |
| 610 N Capitol Blvd, Unit 3, Saint Paul 55103 | $1,650 | 3 / 1.5 | 1.0 mi | 95% |
| 610 N Capitol Blvd, Saint Paul 55103 off market | $1,750 | 3 / 1.5 | 1.0 mi | 95% |
| 1051 Arkwright St, Saint Paul 55130 off market | $1,795 | 3 / 1 | 0.7 mi | 94% |
| 586 Reaney Ave E, Unit 586U2, Saint Paul 55130 | $1,614 | 3 / 1 | 0.3 mi | 93% |
| 222 Maple St, Apt 1, Saint Paul 55106 off market | $1,400 | 3 / 1 | 1.0 mi | 92% |
| 880 Wilson Ave, Saint Paul 55106 | $1,425 | 3 / 1 | 1.1 mi | 92% |
| 691 Bedford St, Unit A, Saint Paul 55130 | $2,052 | 3 / 1 | 0.2 mi | 92% |
| 1199 Burr St, Saint Paul 55130 off market | $1,320 | 3 / 1 | 1.0 mi | 92% |
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 rent, lease dates or deposit details for the occupied side. Our income figures rest on estimates only. Listing says: One side is vacant and the other is rented out with a month-to-month lease. · AI review
- mediumRental license shows 'Renewal Due' with an expiry date in May 2025. It may be lapsed. Confirm it is current before closing. Based on: data: city.rental_license · AI review
- mediumPrice history looks odd: $425K sale in Oct 2025 against a $223,900 county value and a $249K ask. Possible distressed or non-arm's-length sale, or a failed flip. Based on: data: county.last_sale_price · 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 322922220025: special assessments (payable 2026) = $432.50
- lowSold for $425,000 in Oct 2025, more than today's asking price. Ask why the owner is selling again so soon. Public record: Ramsey County parcel 322922220025: last sale 2025-10-31, $425,000
- lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "and the other is rented out with a month-to-month lease."
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 189 days on market
- Half the building is vacant, so you can renovate and set the rent fresh. The 3% cap only limits increases on sitting tenants. Listing says: One side is vacant and the other is rented out with a month-to-month lease. · AI review
- 186 days on market and an ask above county value give room to negotiate. Based on: data: listing.days_on_market · AI review
Questions for the agent
- What does the occupied unit pay, and what is the lease start date and deposit held?
- Why did the owner sell at $425K in Oct 2025, and why list again so soon?
- Is the rental license current, and what did the city grade B inspection note?
- What are the $432 special assessments for, and does the seller pay them at closing?
- How is each unit heated and metered? How old are the boiler or furnace, water heater and electrical panel?
- Do the photos show the lower unit? Is it fully legal, with egress?
Bottom line
The numbers look decent on paper, but with no verified rents, a murky sale history and unseen systems, treat it as a maybe until the rent roll and license check out. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $4,550 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,398 |
| 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 1887: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-03-30 (189 days); last sold for $94,900 on 2012-03-06.
| Date | Event | Price |
|---|---|---|
| Listed | $249,000 | |
| Removed | $94,500 | |
| Sold | $94,900 | |
| Listed | $94,500 | |
| Removed | $94,500 | |
| Price changed | $94,500 | |
| Listed | $99,000 | |
| Removed | $119,000 | |
| Listed | $119,000 |
County record Public record
| Recorded as | two family dwelling - up/dwn |
| Living units | 2 |
| Year built | 1887 |
| Market value (2026) | $223,900 |
| Property tax, payable 2026 | $4,550 |
| Special assessments | $432 |
| Homestead | no |
| Last sale | 2025-10-31 · $425,000 |
Source: Ramsey County parcel records.
City rental certificate (CofO)
Residential 2 Units: 2 unit(s), B, status renewal due, renews 2025-05-20.
Nearest highway
I 35E;US 10, about 709 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.