707 Preble St
Duplex · 2 units: 3 bed / 1.5 bath ×2 unit split estimated · 3,393 sq ft
Saint Paul, MN · Payne – Phalen (Railroad Island) · View the listing ↗
Photos courtesy of Keller Williams Integrity RE - Broker, via Realtor.com.
- Asking price
- $239,900 2 units · $120K per unit
- Monthly cash flow
- $386 at 20% down, 7%
- Break-even price
- $312,412 where cash flow hits $0
First look
This is a gutted-and-partly-finished 1884 duplex with a frozen boiler, and that is the story. The description admits freeze damage to the heating system that needs significant repairs, and the roof still needs replacing, so budget for both before you trust the 8.3% cap rate and $386/mo cash flow in FACTS. Photos show new kitchens, baths, flooring and windows, but the radiators suggest a hydronic system that may have been damaged too, so get a boiler and pipe inspection first. Last sold for $390K in 2023 and is now asking $239,900 after 109 days, so the seller is motivated, but the missing rental license and $1,859 in assessments need answers. Worth a showing only with a heating contractor and roofer in tow.
Things to consider
- Heating system damage is the biggest unknown A frozen boiler can mean cracked sections, burst radiators and leaks. Costs can swing from a repair to a full replacement, and a cold building cannot be rented.Listing says: “House has freeze damage to boiler system, so heating system will need significant repairs.”
- Roof replacement on a three-story house Steep, tall roofs cost more to replace, and leaks can damage the new finishes.Listing says: “Additional improvements are still needed, including roof replacement and installation of a second water heater.”
- Underwriting assumes a finished, rentable building The $386/mo cash flow in FACTS ignores the heating and roof costs, so subtract those from your offer.
- Rental licensing status is unclear No rental certificate is on file, so an inspection could force further repairs before you can legally rent.
- Seller took a big loss and has been listed 109 days The price gap from the $390K sale suggests a distressed seller, which gives you leverage but also warns of rushed work.
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Condition and repairs
- neededBoiler freeze damage, significant heating system repairsListing says: House has freeze damage to boiler system, so heating system will need significant repairs.
- neededRoof replacementListing says: Additional improvements are still needed, including roof replacement and installation of a second water heater.
- neededSecond water heaterListing says: Additional improvements are still needed, including roof replacement and installation of a second water heater.
- donePEX plumbingListing says: Recent improvements include PEX plumbing, a newer boiler, replacement windows, and updated kitchens and bathrooms.
- doneReplacement windows, updated kitchens and bathroomsListing says: Recent improvements include PEX plumbing, a newer boiler, replacement windows, and updated kitchens and bathrooms.
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
- $239,900
- Cash to close
- $31,187
- Price per unit
- $119,950
- GRM
- 5.6
Each month
- Cash flow
- $91/mo
- Cash-on-cash
- 3.5%
- Cap rate
- 8.3%
- DSCR
- 1.06×
Break-even
- Price that breaks even
- $253,852
- Rent that breaks even
- $3,431/mo
Long run
- Year 30: property vs stocks
- $1.37M vs $237K
- Cash flow turns positive
- year 1
The deal
- Price
- $239,900
- Cash to close
- $31,187
- Price per unit
- $119,950
- GRM
- 5.6
Each month
- Cash flow
- −$209/mo
- Cash-on-cash
- −8.0%
- Cap rate
- 6.8%
- DSCR
- 0.87×
Break-even
- Price that breaks even
- $208,002
- Rent that breaks even
- $3,855/mo
Long run
- Year 30: property vs stocks
- $947K vs $286K
- Cash flow turns positive
- year 5
The deal
- Price
- $229,900
- Cash to close
- $29,887
- Price per unit
- $114,950
- GRM
- 5.4
Each month
- Cash flow
- $157/mo
- Cash-on-cash
- 6.3%
- Cap rate
- 8.7%
- DSCR
- 1.10×
Break-even
- Price that breaks even
- $253,852
- Rent that breaks even
- $3,346/mo
Long run
- Year 30: property vs stocks
- $1.41M vs $228K
- Cash flow turns positive
- year 1
The deal
- Price
- $229,900
- Cash to close
- $29,887
- Price per unit
- $114,950
- GRM
- 5.4
Each month
- Cash flow
- −$143/mo
- Cash-on-cash
- −5.8%
- Cap rate
- 7.1%
- DSCR
- 0.90×
Break-even
- Price that breaks even
- $208,002
- Rent that breaks even
- $3,759/mo
Long run
- Year 30: property vs stocks
- $973K vs $256K
- Cash flow turns positive
- year 5
The deal
- Price
- $239,900
- Cash to close
- $55,177
- Price per unit
- $119,950
- GRM
- 5.6
Each month
- Cash flow
- $386/mo
- Cash-on-cash
- 8.4%
- Cap rate
- 8.3%
- DSCR
- 1.30×
Break-even
- Price that breaks even
- $312,412
- Rent that breaks even
- $3,049/mo
Long run
- Year 30: property vs stocks
- $1.59M vs $420K
- Cash flow turns positive
- year 1
The deal
- Price
- $239,900
- Cash to close
- $55,177
- Price per unit
- $119,950
- GRM
- 5.6
Each month
- Cash flow
- $86/mo
- Cash-on-cash
- 1.9%
- Cap rate
- 6.8%
- DSCR
- 1.07×
Break-even
- Price that breaks even
- $255,985
- Rent that breaks even
- $3,425/mo
Long run
- Year 30: property vs stocks
- $1.12M vs $420K
- Cash flow turns positive
- year 1
The deal
- Price
- $229,900
- Cash to close
- $52,877
- Price per unit
- $114,950
- GRM
- 5.4
Each month
- Cash flow
- $439/mo
- Cash-on-cash
- 10.0%
- Cap rate
- 8.7%
- DSCR
- 1.36×
Break-even
- Price that breaks even
- $312,412
- Rent that breaks even
- $2,980/mo
Long run
- Year 30: property vs stocks
- $1.63M vs $403K
- Cash flow turns positive
- year 1
The deal
- Price
- $229,900
- Cash to close
- $52,877
- Price per unit
- $114,950
- GRM
- 5.4
Each month
- Cash flow
- $139/mo
- Cash-on-cash
- 3.2%
- Cap rate
- 7.1%
- DSCR
- 1.11×
Break-even
- Price that breaks even
- $255,985
- Rent that breaks even
- $3,347/mo
Long run
- Year 30: property vs stocks
- $1.16M vs $403K
- Cash flow turns positive
- year 1
The deal
- Price
- $239,900
- Cash to close
- $67,172
- Price per unit
- $119,950
- GRM
- 5.6
Each month
- Cash flow
- $466/mo
- Cash-on-cash
- 8.3%
- Cap rate
- 8.3%
- DSCR
- 1.39×
Break-even
- Price that breaks even
- $333,240
- Rent that breaks even
- $2,945/mo
Long run
- Year 30: property vs stocks
- $1.68M vs $511K
- Cash flow turns positive
- year 1
The deal
- Price
- $239,900
- Cash to close
- $67,172
- Price per unit
- $119,950
- GRM
- 5.6
Each month
- Cash flow
- $165/mo
- Cash-on-cash
- 3.0%
- Cap rate
- 6.8%
- DSCR
- 1.14×
Break-even
- Price that breaks even
- $273,050
- Rent that breaks even
- $3,309/mo
Long run
- Year 30: property vs stocks
- $1.21M vs $511K
- Cash flow turns positive
- year 1
The deal
- Price
- $229,900
- Cash to close
- $64,372
- Price per unit
- $114,950
- GRM
- 5.4
Each month
- Cash flow
- $516/mo
- Cash-on-cash
- 9.6%
- Cap rate
- 8.7%
- DSCR
- 1.45×
Break-even
- Price that breaks even
- $333,240
- Rent that breaks even
- $2,880/mo
Long run
- Year 30: property vs stocks
- $1.71M vs $490K
- Cash flow turns positive
- year 1
The deal
- Price
- $229,900
- Cash to close
- $64,372
- Price per unit
- $114,950
- GRM
- 5.4
Each month
- Cash flow
- $215/mo
- Cash-on-cash
- 4.0%
- Cap rate
- 7.1%
- DSCR
- 1.19×
Break-even
- Price that breaks even
- $273,050
- Rent that breaks even
- $3,236/mo
Long run
- Year 30: property vs stocks
- $1.24M vs $490K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,663 |
| Mortgage (principal + interest) | −$1,436 |
| PMI | −$135 |
| Cash flow | $91 |
| Principal paid down (equity, not cash) | $183 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,362 |
| Mortgage (principal + interest) | −$1,436 |
| PMI | −$135 |
| Cash flow | −$209 |
| Principal paid down (equity, not cash) | $183 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,663 |
| Mortgage (principal + interest) | −$1,377 |
| PMI | −$129 |
| Cash flow | $157 |
| Principal paid down (equity, not cash) | $175 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,362 |
| Mortgage (principal + interest) | −$1,377 |
| PMI | −$129 |
| Cash flow | −$143 |
| Principal paid down (equity, not cash) | $175 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,663 |
| Mortgage (principal + interest) | −$1,277 |
| Cash flow | $386 |
| Principal paid down (equity, not cash) | $162 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,362 |
| Mortgage (principal + interest) | −$1,277 |
| Cash flow | $86 |
| Principal paid down (equity, not cash) | $162 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,663 |
| Mortgage (principal + interest) | −$1,224 |
| Cash flow | $439 |
| Principal paid down (equity, not cash) | $156 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,362 |
| Mortgage (principal + interest) | −$1,224 |
| Cash flow | $139 |
| Principal paid down (equity, not cash) | $156 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,663 |
| Mortgage (principal + interest) | −$1,197 |
| Cash flow | $466 |
| Principal paid down (equity, not cash) | $152 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,362 |
| Mortgage (principal + interest) | −$1,197 |
| Cash flow | $165 |
| Principal paid down (equity, not cash) | $152 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Net operating income | $1,663 |
| Mortgage (principal + interest) | −$1,147 |
| Cash flow | $516 |
| Principal paid down (equity, not cash) | $146 |
| Rent | $3,550 |
| Vacancy (6%) | −$213 |
| Collected | $3,337 |
| Property tax Public record | −$598 |
| Insurance Estimate | −$243 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$284 |
| Capital reserve (9% of rent) | −$320 |
| Property management | −$300 |
| Net operating income | $1,362 |
| Mortgage (principal + interest) | −$1,147 |
| Cash flow | $215 |
| Principal paid down (equity, not cash) | $146 |
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
- $547,362
- Rental profits, invested at 7%
- $817,847
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $215,910 of loan.
$373,692 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $237,403
$31,187 put into an index fund instead of the down payment and closing costs.
The building comes out $1,127,806 ahead after 30 years.
- Your equity when you sell
- $547,362
- Rental profits, invested at 7%
- $399,525
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $215,910 of loan.
$209,661 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $237,403
- Monthly shortfalls, invested
- $48,841
$31,187 put into an index fund instead of the down payment and closing costs.
$7,429 you'd have paid in while the building lost money, invested instead.
The building comes out $660,643 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $887,460
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $206,910 of loan.
$395,518 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $227,507
$29,887 put into an index fund instead of the down payment and closing costs.
The building comes out $1,184,499 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $448,871
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $206,910 of loan.
$228,343 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $227,507
- Monthly shortfalls, invested
- $28,573
$29,887 put into an index fund instead of the down payment and closing costs.
$4,285 you'd have paid in while the building lost money, invested instead.
The building comes out $717,336 ahead after 30 years.
- Your equity when you sell
- $547,362
- Rental profits, invested at 7%
- $1,040,518
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $191,920 of loan.
$437,628 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $420,021
$55,177 put into an index fund instead of the down payment and closing costs.
The building comes out $1,167,859 ahead after 30 years.
- Your equity when you sell
- $547,362
- Rental profits, invested at 7%
- $573,355
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $191,920 of loan.
$266,168 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $420,021
$55,177 put into an index fund instead of the down payment and closing costs.
The building comes out $700,697 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $1,100,849
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $183,920 of loan.
$456,788 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $402,513
$52,877 put into an index fund instead of the down payment and closing costs.
The building comes out $1,222,882 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $633,687
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $183,920 of loan.
$285,328 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $402,513
$52,877 put into an index fund instead of the down payment and closing costs.
The building comes out $755,720 ahead after 30 years.
- Your equity when you sell
- $547,362
- Rental profits, invested at 7%
- $1,130,977
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $179,925 of loan.
$466,357 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $511,330
$67,172 put into an index fund instead of the down payment and closing costs.
The building comes out $1,167,009 ahead after 30 years.
- Your equity when you sell
- $547,362
- Rental profits, invested at 7%
- $663,815
Sells for $582,300 (value up 3% a year), minus 6% selling cost ($34,938). Rent paid down $179,925 of loan.
$294,897 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $511,330
$67,172 put into an index fund instead of the down payment and closing costs.
The building comes out $699,847 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $1,187,538
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $172,425 of loan.
$484,320 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $490,016
$64,372 put into an index fund instead of the down payment and closing costs.
The building comes out $1,222,068 ahead after 30 years.
- Your equity when you sell
- $524,546
- Rental profits, invested at 7%
- $720,375
Sells for $558,028 (value up 3% a year), minus 6% selling cost ($33,482). Rent paid down $172,425 of loan.
$312,860 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $490,016
$64,372 put into an index fund instead of the down payment and closing costs.
The building comes out $754,905 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 $1.37M, stocks $237K. The property wins.
Year 30 (loan paid off): property $947K, stocks $286K. The property wins.
Year 30 (loan paid off): property $1.41M, stocks $228K. The property wins.
Year 30 (loan paid off): property $973K, stocks $256K. The property wins.
Year 30 (loan paid off): property $1.59M, stocks $420K. The property wins.
Year 30 (loan paid off): property $1.12M, stocks $420K. The property wins.
Year 30 (loan paid off): property $1.63M, stocks $403K. The property wins.
Year 30 (loan paid off): property $1.16M, stocks $403K. The property wins.
Year 30 (loan paid off): property $1.68M, stocks $511K. The property wins.
Year 30 (loan paid off): property $1.21M, stocks $511K. The property wins.
Year 30 (loan paid off): property $1.71M, stocks $490K. The property wins.
Year 30 (loan paid off): property $1.24M, stocks $490K. 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.
3 bed estimate $1,775/mo · range $1,675–$2,000 · 15 rentals within 1.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 595 Minnehaha Ave E, Saint Paul | $1,155 | 3 / 1 | 0.1 mi |
| 586 Reaney Ave E Unit 586U2, Saint Paul | $1,614 | 3 / 1 | 0.1 mi |
| 691 Bedford St Unit A, Saint Paul | $2,052 | 3 / 1 | 0.1 mi |
| 283-289 Bates Ave, Saint Paul | $1,249 | 3 / 1 | 0.6 mi |
| 584 Magnolia Ave E Unit 1, Saint Paul | $1,900 | 3 / 2 | 0.8 mi |
| 880 Wilson Ave, Saint Paul | $1,425 | 3 / 1 | 0.8 mi |
| 736 Geranium Ave E Apt A, Saint Paul | $1,600 | 3 / 1 | 0.9 mi |
| 300 Broadway St, Saint Paul | $1,900 | 3 / 1.5 | 1.0 mi |
| 1056 3rd St E, Saint Paul | $1,695 | 3 / 1 | 1.0 mi |
| 1056 3rd St E, Saint Paul | $1,695 | 3 / 1 | 1.0 mi |
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
- highFrozen boiler system with unknown extent of damage; the 'newer boiler' may be compromised, and radiators and pipes could be too Listing says: House has freeze damage to boiler system, so heating system will need significant repairs. · AI review
- highRoof needs replacement, a large cost on a three-story building Listing says: Additional improvements are still needed, including roof replacement and installation of a second water heater. · AI review
- mediumNo rental certificate (CofO) on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: St. Paul Certificate of Occupancy – Residential: no record for 707 PREBLE ST (dataset last updated mid-2025)
- medium$1,859 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 322922120078: special assessments (payable 2026) = $1,858.54
- mediumHeat was likely off, so check for hidden freeze damage elsewhere despite the claim that plumbing is intact Listing says: Plumbing system is intact. · AI review
- mediumPrice is far below the 2023 sale of $390K, which points to a distressed or failed flip Based on: data: county.last_sale_price · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 112 days on market
- Cosmetic work looks done, so after fixing heat and roof the units could be rent-ready at estimated rents Listing says: updated kitchens and bathrooms · AI review
- Large upper unit with 4 beds and 2 baths can fetch a higher rent per unit Listing says: The upper unit spans two levels and features 4 bedrooms and 2 bathrooms · AI review
- Price well under county market value and 109 days listed leave room to negotiate for repair costs Based on: data: listing.days_on_market · AI review
Questions for the agent
- Who has inspected the boiler, and is there a repair bid? Did any radiators or pipes burst?
- What is the roof's age, and is there a quote for replacement?
- Why did the 2023 owner sell or lose it, and has any work been permitted?
- What are the $1,859 in special assessments, and are they paid at closing?
- Is the building licensed as a duplex rental, and did a city inspection occur?
- Is the heat one system or two, and who would pay for it?
Bottom line
Pretty finishes on a building with a frozen boiler and a bad roof: the price only works if you can bid both repairs and get a discount larger than that. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $7,175 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,913 |
| 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 1884: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-06-15 (112 days); down $60,000 (20.0%) from the first ask of $299,900; last sold for $390,000 on 2023-07-06.
| Date | Event | Price |
|---|---|---|
| Price changed | $239,900 | |
| Price changed | $259,900 | |
| Price changed | $275,000 | |
| Price changed | $289,900 | |
| Relisted | $299,900 | |
| Removed | — | |
| Listed | $299,900 | |
| Sold public record | $390,000 | |
| Removed | — | |
| Listed | $195,000 | |
| Sold public record | $807,900 | |
| Removed | $155,000 | |
| Relisted | $155,000 | |
| Removed | $155,000 | |
| Listed | $155,000 | |
| Sold public record | $105,000 | |
| Sold public record | $260,000 | |
| Sold public record | $36,000 |
County record Public record
| Recorded as | two family dwelling - up/dwn |
| Living units | 2 |
| Year built | 1884 |
| Market value (2026) | $340,400 |
| Property tax, payable 2026 | $7,175 |
| Special assessments | $1,859 |
| Homestead | no |
| Last sale | 2023-05-15 · $390,000 |
Source: Ramsey County parcel records.
City rental certificate (CofO)
No record in St. Paul Certificate of Occupancy – Residential (dataset last updated mid-2025).
Nearest highway
I 94;US 10, about 804 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.