757 Laurel Ave

Duplex · 2 units: 3 bed / 1.5 bath ×2 unit split estimated · 3,071 sq ft

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

Overpriced

52 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $449,900
Monthly cash flow: −$635
Estimated rent: $4,050/mo
Break-even price: $330,575

Adjust the numbers See the full breakdown

From the listing

Exceptional duplex opportunity in the heart of Saint Paul! This versatile property features a spacious 2-bedroom, 1-bath unit on the main level and an expansive 4-bedroom, 2-bath unit occupying the upper levels, offering excellent income potential and flexibility for investors or owner-occupants. The main-level unit provides comfortable living with a functional floor plan and abundant natural light. Upstairs, the larger unit offers generous living spaces, multiple bedrooms, and two full bathrooms, making it ideal for larger households or maximizing rental income. Both units showcase the character and charm expected from a classic Saint Paul property while providing practical layouts for modern living. Conveniently located on a picturesque, tree-lined street near downtown Saint Paul, parks, shopping, dining, public transportation, and major commuter routes. Whether you're looking to add to your investment portfolio or offset your mortgage with rental income, this duplex presents an outstanding opportunity in a highly desirable location.

Listing courtesy of RE/MAX Results (Kerby & Cristina Real Estate Experts). Description from Realtor.com, MLS #7122098. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 2-unit up/down in Summit-University at $449,900, and the numbers don't work at that price. Our underwriting shows about -$635 a month and a 4.7% cap rate, with break-even near $331K. Our rent estimates are $2,025 a unit, but the 2-bed down and 4-bed up should rent differently, so get the real rents. The description gives no rents, no lease status, no heat details and no repair info, so ask for the rent roll, utility bills and the city rental license status (shown as Pending) first. Photos look clean but cosmetic. I'd only show it if the price is lower, since the seller bought at $221K in 2010 and has room to cut.

Things to consider

Price is above what income supports Our underwriting loses about $635 a month at asking and breaks even near $331K. This does not cash flow at today's rates without a price cut.
Rents are unknown and capped Sitting tenants in St. Paul can only rise 3% a year, so low current rents will stay low for a while. Get the rent roll.
High property tax The non-homestead tax bill is $10,724 plus assessments, which eats a big share of rent income.
Unit sizes differ widely A 2-bed and a 4-bed will rent differently, and our estimate treats them the same. The upper unit may rent higher, but verify with comps.Listing says: “a spacious 2-bedroom, 1-bath unit on the main level”
Systems unknown No mention of heat, roof, wiring or plumbing age on a 1900 building. Budget for an inspection before you offer.

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: $449,900
Cash to close: $103,477
Price per unit: $224,950
GRM: 9.3

Each month

Cash flow: −$635/mo
Cash-on-cash: −7.4%
Cap rate: 4.7%
DSCR: 0.73×

Break-even

Price that breaks even: $330,575
Rent that breaks even: $4,875/mo

Long run

Year 30: property vs stocks: $1.22M vs $1.08M
Cash flow turns positive: year 14

Monthly

Monthly breakdown

Rent	$4,050
Vacancy (6%)	−$243
Collected	$3,807
Property tax Public record	−$894
Insurance Estimate	−$235
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$324
Capital reserve (9% of rent)	−$364
Net operating income	$1,759
Mortgage (principal + interest)	−$2,395
Cash flow	−$635
Principal paid down (equity, not cash)	$305

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$1,215,250

Your equity when you sell: $1,026,503
Rental profits, invested at 7%: $188,746

Same money in stocks$1,079,060

Cash to close, invested at 7%: $787,693
Monthly shortfalls, invested: $291,367

The building comes out $136,190 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 $1.22M, stocks $1.08M. 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 $2,025/mo · range $1,625–$2,150 · 9 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
865/867 Hague Ave, Saint Paul	$1,625	3 / 1	1,300	0.2 mi	2026-06-16	Apartment
913 Ashland Ave, Saint Paul	$2,000	3 / 2	1,600	0.3 mi	2026-09-05	Apartment
987 Dayton Ave, Saint Paul	$2,050	3 / 1	2,000	0.5 mi	2026-08-26	Apartment
989 Dayton Ave, Saint Paul	$2,050	3 / 1	2,000	0.5 mi	—	Apartment
555-565 N Kent St, Saint Paul	$1,435	3 / 1	875	1.0 mi	2026-04-29	Apartment
255 Western Ave N, Saint Paul	$3,120	3 / 2	1,640	1.1 mi	2026-03-31	Apartment
1305 University Ave W, Saint Paul	$1,600	3 / 2	—	1.4 mi	2026-07-17	Apartment
690 Virginia St, Saint Paul	$1,500	3 / 1	1,620	1.4 mi	2023-03-24	Apartment
200 Wilkin St, Saint Paul	$1,938	3 / 2	1,261	1.5 mi	2025-05-03	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

highTaxes of $10,724 are a heavy burden on a non-homestead bill, and the price is far above what rents support. Based on: data: county.tax · AI review
mediumRental license shows Pending status, so confirm it is current and the unit count is legal. Based on: data: city.rental_license · AI review
mediumNo rents, lease terms or expenses given; the pitch leans on owner-occupant offset and potential. Listing says: offering excellent income potential and flexibility for investors or owner-occupants · AI review
low$572 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 022823120210: special assessments (payable 2026) = $572.02
low57 days on market at this price suggests buyers see the same gap between price and income. Based on: data: listing.days_on_market · AI review

Opportunities

The seller bought for $221,250 in May 2010, so they can take a lower offer and still come out well ahead. Public record: Ramsey County parcel 022823120210: last sale 2010-05-28, $221,250
Large 4-bed/2-bath upper unit could suit bigger households and command higher rent than our estimate; verify. Listing says: an expansive 4-bedroom, 2-bath unit occupying the upper levels · AI review
Seller has big equity from a 2010 purchase, so there is room to negotiate a substantial cut. Based on: data: county.last_sale_price · AI review
Hardwood floors and updated paint look solid, so turnover costs may be modest. Based on: photo 2 · AI review

Questions for the agent

What are the current rents and lease end dates for each unit, and are either month-to-month?
Who pays heat, water, gas and electric, and how many boilers or furnaces and meters are there?
What are the $572 special assessments for, and will the seller pay them at closing?
What is the rental license status, and why is it Pending?
How old are the roof, boiler or heating system, electrical panel and water heaters?
Why has it sat 57 days, and has the price changed?

Bottom line

Nice-looking old duplex, but $449,900 is about $119K above what the rents support, so it only works with a price cut. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)	$10,724
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,825
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 1900: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-06-23 (104 days); down $40,000 (8.2%) from the first ask of $489,900; last sold for $221,250 on 2011-06-13.

Date	Event	Price
2026-09-24	Removed	$475,000
2026-08-06	Listed	$449,900
2026-08-06	Removed	$475,000
2026-07-15	Price changed	$475,000
2026-06-23	Listed	$489,900
2011-06-13	Sold	$221,250
2010-06-08	Sold public record	$221,250
2010-05-02	Price changed	$235,900
2010-04-02	Price changed	$242,900
2010-02-10	Relisted	$249,900
2010-01-31	Removed	$259,900
2009-12-11	Relisted	$259,900
2009-12-09	Removed	$274,900
2009-11-10	Price changed	$274,900
2009-11-08	Price changed	$299,900
2009-10-23	Listed	$309,900
2008-07-21	Sold public record	$80,000

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1900
Market value (2026)	$543,100
Property tax, payable 2026	$10,724
Special assessments	$572
Homestead	no
Last sale	2010-05-28 · $221,250

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), A, status pending, renews 2028-05-12.

Nearest highway

I 94, about 718 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.