724 Hague Ave

Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 2,288 sq ft

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

Overpriced

51 photos

Photos courtesy of Side by Side Realty, via Realtor.com.

Asking price: $379,000
Monthly cash flow: −$667
Estimated rent: $3,000/mo
Break-even price: $253,652

Adjust the numbers See the full breakdown

From the listing

Updated Professional Photos: 5/1/26 Outstanding opportunity in the heart of the Summit Neighborhood, 724 Hague Ave. There is not a better urban oasis in the Twin Cities. Public transit, schools, community centers, coffee shops, bars and restaurants all within a short walk of your front door. The exterior features classic architecture highlighted by a stunning 2 story front deck and rounded out by its iconic red brick. Duplex has new rear gutters with commercial downspouts. Both units have upgrades, including new water heaters, new toilets, and bathroom fan vents ducted to the exterior. Upper unit highlights extensive renovations throughout: a chef-designed kitchen with new stove, new microwave, Bosch 800 series dishwasher, built-in refrigerator, Cambria countertops, overhead vented range hood, and custom built-in/organized cabinetry. Electrical has been fully updated with new wiring and dedicated runs for each outlet. Additional upgrades include new flooring in the kitchen and bathroom, new lighting throughout (kitchen, dining, and bedroom), added dining room outlets, and upgraded Lutron light switches compatible with smart home systems while remaining fully functional as standard switches. Enhanced storage includes additional hallway closet space and bathroom storage. The bathroom has been fully updated with a new tub and shower and vanity. Both units retain their 1920s charm with original woodwork, bright interiors, and abundant natural light. Each unit offers 2 bedrooms and 1 bathroom, with strong rental demand in the area. Currently, both units are owner-occupied and will be vacant upon close.

Listing courtesy of Side by Side Realty (Scott Hoefler). Description from Realtor.com, MLS #7064722. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 1915 up/down duplex at $379K, and the numbers don't work at today's rates. Our rent estimate is about $1,500 per 2-bed, and underwriting shows roughly -$667/month with a 4.3% cap rate. Break-even price is about $254K, so you'd be paying far above what the rents support. It's owner-occupied and delivered vacant, so there's no rent roll to check and you'd have to lease it up yourself. The upper unit has a lot of recent work, but the photos show a dated lower-looking kitchen and hall, so confirm which unit is which. It's been listed 155 days, so there's room to negotiate hard. Verify the rental license and the special assessments before any showing.

Things to consider

Price is far above what rents support Underwriting shows about -$667/month and a 4.3% cap rate, so the deal only works at a much lower price.
Vacant at closing means no verified income You'd be relying on our rent estimates of about $1,500 per unit, with lease-up time and vacancy cost on top.Listing says: “will be vacant upon close”
Rental license is not on file If the building isn't licensed, you may need an inspection and repairs before you can legally rent it.
Updates look uneven between units The upper unit is described as heavily renovated, but the kitchen in the photos looks dated, so budget for the less-updated unit.From photo 8
Special assessments add carrying cost The $978 on the tax bill raises costs, and the non-homestead tax is already about $6,870.
Long time on market gives leverage 155 days suggests the price is not meeting the market, so a significantly lower offer is reasonable.

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 rear gutters with commercial downspoutsListing says: Duplex has new rear gutters with commercial downspouts.
doneNew water heaters in both unitsListing says: Both units have upgrades, including new water heaters, new toilets, and bathroom fan vents ducted to the exterior.
doneUpper unit electrical fully updated with new wiringListing says: Electrical has been fully updated with new wiring and dedicated runs for each outlet.
doneUpper unit kitchen renovationListing says: a chef-designed kitchen with new stove, new microwave, Bosch 800 series dishwasher, built-in refrigerator, Cambria countertops
doneUpper bathroom updated with new tub, shower and vanityListing says: The bathroom has been fully updated with a new tub and shower and vanity.

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: $379,000
Cash to close: $87,170
Price per unit: $189,500
GRM: 10.5

Each month

Cash flow: −$667/mo
Cash-on-cash: −9.2%
Cap rate: 4.3%
DSCR: 0.67×

Break-even

Price that breaks even: $253,652
Rent that breaks even: $3,844/mo

Long run

Year 30: property vs stocks: $953K vs $1.03M
Cash flow turns positive: year 17

Monthly

Monthly breakdown

Rent	$3,000
Vacancy (6%)	−$180
Collected	$2,820
Property tax Public record	−$573
Insurance Estimate	−$217
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (7% of rent)	−$210
Capital reserve (8% of rent)	−$240
Net operating income	$1,350
Mortgage (principal + interest)	−$2,017
Cash flow	−$667
Principal paid down (equity, not cash)	$257

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$953,035

Your equity when you sell: $864,736
Rental profits, invested at 7%: $88,298

Same money in stocks$1,032,348

Cash to close, invested at 7%: $663,560
Monthly shortfalls, invested: $368,788

Stocks come out $79,313 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 $953K, stocks $1.03M. 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 $1,500/mo · range $1,325–$1,750 · 14 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
755 Selby Ave, Saint Paul	$1,500	2 / 1	1,003	0.1 mi	2026-02-18	Apartment
655 Selby Ave, Saint Paul	$1,300	2 / 1	842	0.2 mi	2026-09-24	Apartment
640 Dayton Ave, Saint Paul	$1,900	2 / 1	1,080	0.2 mi	2026-09-26	Duplex triplex
826 Selby Ave Apt 2, Saint Paul	$1,700	2 / 1	1,200	0.2 mi	—	Apartment
651-655 Portland Ave, Saint Paul	$1,449	2 / 1	1,100	0.3 mi	2026-07-01	Apartment
874 Selby Ave Apt 3, Saint Paul	$1,250	2 / 1	650	0.3 mi	2026-09-20	Apartment
874 Selby Ave, Saint Paul	$1,250	2 / 1	620	0.3 mi	2026-09-28	Apartment
228 Victoria St N Apt 2, Saint Paul	$1,695	2 / 1	1,000	0.3 mi	2026-09-01	Apartment
913 Ashland Ave, Saint Paul	$1,600	2 / 1	1,150	0.4 mi	2026-09-05	Apartment
180 Milton St N, Saint Paul	$1,650	2 / 1	1,105	0.4 mi	2025-10-02	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

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 724 HAGUE AVE (dataset last updated mid-2025)
mediumAsking is $125,348 above the price where cash flow breaks even ($253,652) at the default scenario. Based on: Derived: price $379,000 vs. break-even $253,652
mediumElectrical update is described only for the upper unit; the lower unit's wiring and panel are unknown. Listing says: Electrical has been fully updated with new wiring and dedicated runs for each outlet. · AI review
mediumBoth units are owner-occupied, so there are no rents or lease history to verify income. Listing says: Currently, both units are owner-occupied and will be vacant upon close. · AI review
mediumPrice is about $4K above the January 2023 sale and far above the county market value. Based on: data: county.market_value · AI review
low$978 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 022823110225: special assessments (payable 2026) = $977.72
lowLikely radiator heat in a 1915 building, but FACTS lists heat as central. Heat setup and who pays are unclear. Based on: data: county.heat_type · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 158 days on market
Lower unit appears less updated than the upper, leaving room to renovate and lift rent after a refresh. Based on: photo 8 · AI review
Delivered vacant, so you can set rents at market and choose tenants without sitting-tenant issues or the 3% cap. Listing says: will be vacant upon close · AI review
Original woodwork and hardwood floors add appeal to renters. Listing says: Both units retain their 1920s charm with original woodwork, bright interiors, and abundant natural light. · AI review

Questions for the agent

Is the building licensed as a rental, and when was the last city inspection?
What are the $978 special assessments for, and does the seller pay them at closing?
Which unit has the renovated kitchen, and what is the lower unit's condition, wiring and panel?
How is heat set up: one boiler or separate systems, and what do the utility bills run?
Why has it sat 155 days, and has there been any price cut or offer?
Are the 'both units 2 bed' counts legal bedrooms with egress and closets?

Bottom line

Nice, updated 1915 duplex, but at $379K it loses about $667 a month and needs a price near $254K to work. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)	$6,870
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,609
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 1915: +1 pt capital reserve; "fully updated" in the description: -1 pts each	7% / 8%

Price history Realtor.com

On the market since 2026-04-30 (158 days); last sold for $375,000 on 2023-01-03.

Date	Event	Price
2026-04-30	Listed	$379,000
2023-01-03	Sold	$375,000
1991-04-09	Sold public record	$35,000

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1915
Market value (2026)	$316,600
Property tax, payable 2026	$6,870
Special assessments	$978
Homestead	no
Last sale	2023-01-03 · $375,000

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, about 680 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.