721 Wilson Ave
Duplex · 2 units: 3 bed / 3 bath ×2 unit split estimated · 2,460 sq ft
Saint Paul, MN · Dayton's Bluff · View the listing ↗
Photos courtesy of Edina Realty, Inc., via Realtor.com.
- Asking price
- $599,000 2 units · $300K per unit
- Monthly cash flow
- −$778 at 20% down, 7%
- Estimated rent
- $3,700/mo medium confidence
- Break-even price
- $452,786 where cash flow hits $0
First look
This is a new-build duplex with two 3-bed/3-bath units at $599K. Our rent estimate is about $1,850 per unit. At that price it loses roughly $778 a month and the cap rate is 4.8%, and break-even is near $453K, so it doesn't work at today's rates. It has been listed 176 days, and the lot sold for $46K in May 2025, so the seller has room to move. Photos show finished, clean interiors, but several living room shots look virtually staged. Before a showing, confirm the certificate of occupancy, the rental license path and the actual rents, since the listing gives none.
Things to consider
- Price vs. rent gap At $599K the deal loses about $778 a month, and it needs a price near $453K to break even.
- Certificate of occupancy and rental license There is no rental certificate on file. You can't legally rent without one, so closing it out affects timing and cost.
- Large markup over land cost The jump from $46K could be construction cost and profit, not market value, so appraisal risk is real.
- Property tax will reset Taxes of $538 reflect vacant land. A finished duplex will be taxed far higher at non-homestead rates, cutting cash flow further.
- Negotiating leverage Nearly six months listed suggests the market doesn't accept this price.
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
- doneNew construction, not yet complete at listing timeListing says: this home is currently under construction and will be available by Mid-September
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
- $599,000
- Cash to close
- $77,870
- Price per unit
- $299,500
- GRM
- 13.5
Each month
- Cash flow
- −$1,514/mo
- Cash-on-cash
- −23.3%
- Cap rate
- 4.8%
- DSCR
- 0.61×
Break-even
- Price that breaks even
- $367,914
- Rent that breaks even
- $5,641/mo
Long run
- Year 30: property vs stocks
- $1.61M vs $1.30M
- Cash flow turns positive
- year 15
The deal
- Price
- $599,000
- Cash to close
- $77,870
- Price per unit
- $299,500
- GRM
- 13.5
Each month
- Cash flow
- −$1,827/mo
- Cash-on-cash
- −28.1%
- Cap rate
- 4.2%
- DSCR
- 0.53×
Break-even
- Price that breaks even
- $320,126
- Rent that breaks even
- $6,327/mo
Long run
- Year 30: property vs stocks
- $1.46M vs $1.64M
- Cash flow turns positive
- year 20
The deal
- Price
- $589,000
- Cash to close
- $76,570
- Price per unit
- $294,500
- GRM
- 13.3
Each month
- Cash flow
- −$1,448/mo
- Cash-on-cash
- −22.7%
- Cap rate
- 4.9%
- DSCR
- 0.62×
Break-even
- Price that breaks even
- $367,914
- Rent that breaks even
- $5,557/mo
Long run
- Year 30: property vs stocks
- $1.61M vs $1.24M
- Cash flow turns positive
- year 15
The deal
- Price
- $589,000
- Cash to close
- $76,570
- Price per unit
- $294,500
- GRM
- 13.3
Each month
- Cash flow
- −$1,761/mo
- Cash-on-cash
- −27.6%
- Cap rate
- 4.3%
- DSCR
- 0.54×
Break-even
- Price that breaks even
- $320,126
- Rent that breaks even
- $6,233/mo
Long run
- Year 30: property vs stocks
- $1.45M vs $1.57M
- Cash flow turns positive
- year 20
The deal
- Price
- $599,000
- Cash to close
- $137,770
- Price per unit
- $299,500
- GRM
- 13.5
Each month
- Cash flow
- −$778/mo
- Cash-on-cash
- −6.8%
- Cap rate
- 4.8%
- DSCR
- 0.76×
Break-even
- Price that breaks even
- $452,786
- Rent that breaks even
- $4,698/mo
Long run
- Year 30: property vs stocks
- $1.77M vs $1.36M
- Cash flow turns positive
- year 11
The deal
- Price
- $599,000
- Cash to close
- $137,770
- Price per unit
- $299,500
- GRM
- 13.5
Each month
- Cash flow
- −$1,091/mo
- Cash-on-cash
- −9.5%
- Cap rate
- 4.2%
- DSCR
- 0.66×
Break-even
- Price that breaks even
- $393,974
- Rent that breaks even
- $5,269/mo
Long run
- Year 30: property vs stocks
- $1.55M vs $1.63M
- Cash flow turns positive
- year 16
The deal
- Price
- $589,000
- Cash to close
- $135,470
- Price per unit
- $294,500
- GRM
- 13.3
Each month
- Cash flow
- −$725/mo
- Cash-on-cash
- −6.4%
- Cap rate
- 4.9%
- DSCR
- 0.77×
Break-even
- Price that breaks even
- $452,786
- Rent that breaks even
- $4,629/mo
Long run
- Year 30: property vs stocks
- $1.77M vs $1.31M
- Cash flow turns positive
- year 11
The deal
- Price
- $589,000
- Cash to close
- $135,470
- Price per unit
- $294,500
- GRM
- 13.3
Each month
- Cash flow
- −$1,038/mo
- Cash-on-cash
- −9.2%
- Cap rate
- 4.3%
- DSCR
- 0.67×
Break-even
- Price that breaks even
- $393,974
- Rent that breaks even
- $5,193/mo
Long run
- Year 30: property vs stocks
- $1.55M vs $1.57M
- Cash flow turns positive
- year 16
The deal
- Price
- $599,000
- Cash to close
- $167,720
- Price per unit
- $299,500
- GRM
- 13.5
Each month
- Cash flow
- −$579/mo
- Cash-on-cash
- −4.1%
- Cap rate
- 4.8%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $482,972
- Rent that breaks even
- $4,442/mo
Long run
- Year 30: property vs stocks
- $1.87M vs $1.47M
- Cash flow turns positive
- year 9
The deal
- Price
- $599,000
- Cash to close
- $167,720
- Price per unit
- $299,500
- GRM
- 13.5
Each month
- Cash flow
- −$892/mo
- Cash-on-cash
- −6.4%
- Cap rate
- 4.2%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $420,239
- Rent that breaks even
- $4,983/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $1.70M
- Cash flow turns positive
- year 14
The deal
- Price
- $589,000
- Cash to close
- $164,920
- Price per unit
- $294,500
- GRM
- 13.3
Each month
- Cash flow
- −$529/mo
- Cash-on-cash
- −3.8%
- Cap rate
- 4.9%
- DSCR
- 0.82×
Break-even
- Price that breaks even
- $482,972
- Rent that breaks even
- $4,378/mo
Long run
- Year 30: property vs stocks
- $1.88M vs $1.42M
- Cash flow turns positive
- year 8
The deal
- Price
- $589,000
- Cash to close
- $164,920
- Price per unit
- $294,500
- GRM
- 13.3
Each month
- Cash flow
- −$842/mo
- Cash-on-cash
- −6.1%
- Cap rate
- 4.3%
- DSCR
- 0.71×
Break-even
- Price that breaks even
- $420,239
- Rent that breaks even
- $4,911/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $1.64M
- Cash flow turns positive
- year 13
Monthly
Monthly breakdown
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Net operating income | $2,410 |
| Mortgage (principal + interest) | −$3,587 |
| PMI | −$337 |
| Cash flow | −$1,514 |
| Principal paid down (equity, not cash) | $456 |
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Property management | −$313 |
| Net operating income | $2,097 |
| Mortgage (principal + interest) | −$3,587 |
| PMI | −$337 |
| Cash flow | −$1,827 |
| Principal paid down (equity, not cash) | $456 |
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Net operating income | $2,410 |
| Mortgage (principal + interest) | −$3,527 |
| PMI | −$331 |
| Cash flow | −$1,448 |
| Principal paid down (equity, not cash) | $449 |
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Property management | −$313 |
| Net operating income | $2,097 |
| Mortgage (principal + interest) | −$3,527 |
| PMI | −$331 |
| Cash flow | −$1,761 |
| Principal paid down (equity, not cash) | $449 |
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Net operating income | $2,410 |
| Mortgage (principal + interest) | −$3,188 |
| Cash flow | −$778 |
| Principal paid down (equity, not cash) | $406 |
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Property management | −$313 |
| Net operating income | $2,097 |
| Mortgage (principal + interest) | −$3,188 |
| Cash flow | −$1,091 |
| Principal paid down (equity, not cash) | $406 |
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Net operating income | $2,410 |
| Mortgage (principal + interest) | −$3,135 |
| Cash flow | −$725 |
| Principal paid down (equity, not cash) | $399 |
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Property management | −$313 |
| Net operating income | $2,097 |
| Mortgage (principal + interest) | −$3,135 |
| Cash flow | −$1,038 |
| Principal paid down (equity, not cash) | $399 |
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Net operating income | $2,410 |
| Mortgage (principal + interest) | −$2,989 |
| Cash flow | −$579 |
| Principal paid down (equity, not cash) | $380 |
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Property management | −$313 |
| Net operating income | $2,097 |
| Mortgage (principal + interest) | −$2,989 |
| Cash flow | −$892 |
| Principal paid down (equity, not cash) | $380 |
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Net operating income | $2,410 |
| Mortgage (principal + interest) | −$2,939 |
| Cash flow | −$529 |
| Principal paid down (equity, not cash) | $374 |
| Rent | $3,700 |
| Vacancy (6%) | −$222 |
| Collected | $3,478 |
| Property tax Public record | −$45 |
| Insurance Estimate | −$201 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$296 |
| Capital reserve (8% of rent) | −$296 |
| Property management | −$313 |
| Net operating income | $2,097 |
| Mortgage (principal + interest) | −$2,939 |
| Cash flow | −$842 |
| Principal paid down (equity, not cash) | $374 |
Cash flow each year
Rents +3%/yr, 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
- $1,366,694
- Rental profits, invested at 7%
- $242,472
Sells for $1,453,930 (value up 3% a year), minus 6% selling cost ($87,236). Rent paid down $539,100 of loan.
$173,331 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $592,766
- Monthly shortfalls, invested
- $707,515
$77,870 put into an index fund instead of the down payment and closing costs.
$127,985 you'd have paid in while the building lost money, invested instead.
The building comes out $308,885 ahead after 30 years.
- Your equity when you sell
- $1,366,694
- Rental profits, invested at 7%
- $93,681
Sells for $1,453,930 (value up 3% a year), minus 6% selling cost ($87,236). Rent paid down $539,100 of loan.
$75,646 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $592,766
- Monthly shortfalls, invested
- $1,045,626
$77,870 put into an index fund instead of the down payment and closing costs.
$209,004 you'd have paid in while the building lost money, invested instead.
Stocks come out $178,017 ahead after 30 years.
- Your equity when you sell
- $1,343,879
- Rental profits, invested at 7%
- $262,510
Sells for $1,429,658 (value up 3% a year), minus 6% selling cost ($85,779). Rent paid down $530,100 of loan.
$184,827 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $582,870
- Monthly shortfalls, invested
- $657,940
$76,570 put into an index fund instead of the down payment and closing costs.
$117,655 you'd have paid in while the building lost money, invested instead.
The building comes out $365,577 ahead after 30 years.
- Your equity when you sell
- $1,343,879
- Rental profits, invested at 7%
- $105,022
Sells for $1,429,658 (value up 3% a year), minus 6% selling cost ($85,779). Rent paid down $530,100 of loan.
$83,549 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $582,870
- Monthly shortfalls, invested
- $987,354
$76,570 put into an index fund instead of the down payment and closing costs.
$195,082 you'd have paid in while the building lost money, invested instead.
Stocks come out $121,324 ahead after 30 years.
- Your equity when you sell
- $1,366,694
- Rental profits, invested at 7%
- $399,864
Sells for $1,453,930 (value up 3% a year), minus 6% selling cost ($87,236). Rent paid down $479,200 of loan.
$257,565 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,048,740
- Monthly shortfalls, invested
- $308,924
$137,770 put into an index fund instead of the down payment and closing costs.
$52,580 you'd have paid in while the building lost money, invested instead.
The building comes out $408,893 ahead after 30 years.
- Your equity when you sell
- $1,366,694
- Rental profits, invested at 7%
- $186,659
Sells for $1,453,930 (value up 3% a year), minus 6% selling cost ($87,236). Rent paid down $479,200 of loan.
$136,124 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,048,740
- Monthly shortfalls, invested
- $582,621
$137,770 put into an index fund instead of the down payment and closing costs.
$109,844 you'd have paid in while the building lost money, invested instead.
Stocks come out $78,009 ahead after 30 years.
- Your equity when you sell
- $1,343,879
- Rental profits, invested at 7%
- $426,047
Sells for $1,429,658 (value up 3% a year), minus 6% selling cost ($85,779). Rent paid down $471,200 of loan.
$270,339 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,031,232
- Monthly shortfalls, invested
- $274,777
$135,470 put into an index fund instead of the down payment and closing costs.
$46,193 you'd have paid in while the building lost money, invested instead.
The building comes out $463,916 ahead after 30 years.
- Your equity when you sell
- $1,343,879
- Rental profits, invested at 7%
- $202,708
Sells for $1,429,658 (value up 3% a year), minus 6% selling cost ($85,779). Rent paid down $471,200 of loan.
$145,704 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,031,232
- Monthly shortfalls, invested
- $538,340
$135,470 put into an index fund instead of the down payment and closing costs.
$100,264 you'd have paid in while the building lost money, invested instead.
Stocks come out $22,986 ahead after 30 years.
- Your equity when you sell
- $1,366,694
- Rental profits, invested at 7%
- $505,818
Sells for $1,453,930 (value up 3% a year), minus 6% selling cost ($87,236). Rent paid down $449,250 of loan.
$307,402 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,276,727
- Monthly shortfalls, invested
- $189,014
$167,720 put into an index fund instead of the down payment and closing costs.
$30,685 you'd have paid in while the building lost money, invested instead.
The building comes out $406,772 ahead after 30 years.
- Your equity when you sell
- $1,366,694
- Rental profits, invested at 7%
- $252,723
Sells for $1,453,930 (value up 3% a year), minus 6% selling cost ($87,236). Rent paid down $449,250 of loan.
$174,120 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,276,727
- Monthly shortfalls, invested
- $422,821
$167,720 put into an index fund instead of the down payment and closing costs.
$76,107 you'd have paid in while the building lost money, invested instead.
Stocks come out $80,131 ahead after 30 years.
- Your equity when you sell
- $1,343,879
- Rental profits, invested at 7%
- $535,413
Sells for $1,429,658 (value up 3% a year), minus 6% selling cost ($85,779). Rent paid down $441,750 of loan.
$320,632 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,255,413
- Monthly shortfalls, invested
- $162,048
$164,920 put into an index fund instead of the down payment and closing costs.
$25,951 you'd have paid in while the building lost money, invested instead.
The building comes out $461,830 ahead after 30 years.
- Your equity when you sell
- $1,343,879
- Rental profits, invested at 7%
- $271,572
Sells for $1,429,658 (value up 3% a year), minus 6% selling cost ($85,779). Rent paid down $441,750 of loan.
$184,420 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,255,413
- Monthly shortfalls, invested
- $385,109
$164,920 put into an index fund instead of the down payment and closing costs.
$68,444 you'd have paid in while the building lost money, invested instead.
Stocks come out $25,072 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 $1.61M, stocks $1.30M. The property wins.
Year 30 (loan paid off): property $1.46M, stocks $1.64M. Stocks win.
Year 30 (loan paid off): property $1.61M, stocks $1.24M. The property wins.
Year 30 (loan paid off): property $1.45M, stocks $1.57M. Stocks win.
Year 30 (loan paid off): property $1.77M, stocks $1.36M. The property wins.
Year 30 (loan paid off): property $1.55M, stocks $1.63M. Stocks win.
Year 30 (loan paid off): property $1.77M, stocks $1.31M. The property wins.
Year 30 (loan paid off): property $1.55M, stocks $1.57M. Stocks win.
Year 30 (loan paid off): property $1.87M, stocks $1.47M. The property wins.
Year 30 (loan paid off): property $1.62M, stocks $1.70M. Stocks win.
Year 30 (loan paid off): property $1.88M, stocks $1.42M. The property wins.
Year 30 (loan paid off): property $1.62M, stocks $1.64M. Stocks win.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.
3 bed / 3 bath estimate $1,850/mo · range $1,625–$2,075
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 865 Clark St N, Saint Paul 55130 off market | $1,950 | 3 / 2 | 1.3 mi | 87% |
| 914 Burr Unit-3 Bedroom St N, Apt 1, Saint Paul 55130 off market | $1,400 | 3 / 2 | 1.3 mi | 87% |
| 880 Wilson Ave, Saint Paul 55106 | $1,425 | 3 / 1 | 0.1 mi | 84% |
| 222 Maple St, Apt 1, Saint Paul 55106 off market | $1,400 | 3 / 1 | 0.1 mi | 84% |
| 1295-1297 Euclid St, Saint Paul 55106 off market | $2,100 | 3 / 1.5 | 1.0 mi | 83% |
| Ross Ave, Unit 1090, Saint Paul 55106 | $1,910 | 3 / 1 | 1.0 mi | 83% |
| 653 5th St E, Saint Paul 55106 off market | $1,808 | 3 / 1 | 0.4 mi | 81% |
| 1237 7th St E, Saint Paul 55106 off market | $1,595 | 3 / 1 | 1.2 mi | 80% |
| 1237 7th St E, Unit 1, Saint Paul 55106 off market | $1,595 | 3 / 1 | 1.2 mi | 80% |
| 786 7th St E, Saint Paul 55106 off market | $1,599 | 3 / 1 | 0.5 mi | 78% |
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
- highListing was posted as under construction; completion and certificate of occupancy are unconfirmed Listing says: this home is currently under construction and will be available by Mid-September · AI review
- highPrice is far above what the rents support; the cash flow is negative at asking Based on: data: underwriting.cash_flow_monthly · 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 721 WILSON AVE (dataset last updated mid-2025)
- mediumBought for $46,000 in May 2025; asking is 1202% more 17 months later. Ask what was done to justify the jump. Public record: Ramsey County parcel 332922320192: last sale 2025-05-13, $46,000
- mediumCounty still records the parcel as vacant land with 0 living units, so records haven't caught up with the building Based on: data: county.living_units · AI review
- mediumTaxes are based on a $25,700 land value. The bill will jump once the building is assessed, which the underwriting may understate. Based on: data: county.market_value · AI review
- lowHighway about 185 m away may mean noise Based on: data: highway.distance_m · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 179 days on market
- New build with low near-term repairs and capex, and rents are likely not capped by St. Paul's rent rule Based on: data: underwriting.rent_rule · AI review
- Fire suppression and commercial-grade code could help with insurance and tenant appeal Listing says: Built with fire suppression, meeting commercial building codes. · AI review
- 176 days on market gives room to negotiate toward the break-even price Based on: data: listing.days_on_market · AI review
Questions for the agent
- Is the building finished, and is the certificate of occupancy issued? When?
- Will the seller get the rental license, and has the city inspected?
- What rents do you expect, and is there any tenant interest or pre-leasing?
- What was the construction cost, and why is it priced at $599K versus the $46K lot?
- Is the two-car garage shared between units or one per unit?
- Has the builder offered a warranty, and how is the property tax expected to change?
Bottom line
Nice new build, but $599K against roughly $3,700 a month in estimated rent doesn't work; it needs a price near $453K. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $538 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,415 |
| 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. base rate | 8% / 8% |
Price history Realtor.com
On the market since 2026-04-09 (179 days).
| Date | Event | Price |
|---|---|---|
| Removed | $499,000 | |
| Price changed | $599,000 | |
| Listed | $549,000 |
County record Public record
| Recorded as | residential, vacant land, lot |
| Living units | — |
| Year built | — |
| Market value (2026) | $25,700 |
| Property tax, payable 2026 | $538 |
| Special assessments | none |
| Homestead | no |
| Last sale | 2025-05-13 · $46,000 |
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 185 m away.
Crime in Dayton's Bluff
970 incidents in the last 12 months (52 per 1,000 residents), −6% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.