852 Jessamine Ave E
Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath unit split estimated · 1,915 sq ft
Saint Paul, MN · Payne – Phalen (Railroad Island) · View the listing ↗
Photos courtesy of Lakes Area Realty - South - Broker, via Realtor.com.
- Asking price
- $260,000 2 units · $130K per unit
- Monthly cash flow
- $115 at 20% down, 7%
- Break-even price
- $281,527 where cash flow hits $0
First look
This is a 1889 up/down in Payne-Phalen at $260K, and the listing gives no rents, no lease terms and no mention of heat or utilities. Our model shows about $115/mo cash flow and a 6.9% cap at the ask, so the price works modestly, and only if rents hit our estimates. The agent says the home 'will shine vacant', and the photos show lived-in rooms with tenants' belongings, so ask whether the units will be delivered empty. That matters because St. Paul caps rent increases at 3% for sitting tenants. Ask for the rent roll, heat setup, roof and electrical age, and what the $432 assessment is for. It's worth a showing only if the rents are real and the systems are sound. Price it for the rehab the 'before & after' language implies.
Things to consider
- Thin margin at asking price Our model gives roughly $115/mo cash flow and a break-even price of $281,527, so any added repairs, heat costs or vacancy erases much of the cushion.
- No rents or lease info in the listing Cash flow depends on our estimated rents. Sitting tenants are capped at 3% a year, so a below-market rent roll would be hard to correct.
- Rehab scope is unknown The listing hints at work needed but gives no kitchen, bath or mechanical photos, so budget conservatively before offering.Listing says: “The before & after photos show the POSSIBILITIES in this rare gem of a home.”
- Investor tax bill and assessment Taxes are $4,703 non-homestead plus $432 in assessments. These are real carrying costs to confirm at closing.
- 1889 construction Expect older wiring, plumbing and a possible stone foundation. A full inspection should come before any 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.
Condition and repairs
- neededUnspecified cosmetic or condition work implied by before/after photosListing says: The before & after photos show the POSSIBILITIES in this rare gem of a home.
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
- $260,000
- Cash to close
- $33,800
- Price per unit
- $130,000
- GRM
- 7.2
Each month
- Cash flow
- −$205/mo
- Cash-on-cash
- −7.3%
- Cap rate
- 6.9%
- DSCR
- 0.88×
Break-even
- Price that breaks even
- $228,757
- Rent that breaks even
- $3,291/mo
Long run
- Year 30: property vs stocks
- $1.08M vs $302K
- Cash flow turns positive
- year 5
The deal
- Price
- $260,000
- Cash to close
- $33,800
- Price per unit
- $130,000
- GRM
- 7.2
Each month
- Cash flow
- −$461/mo
- Cash-on-cash
- −16.4%
- Cap rate
- 5.7%
- DSCR
- 0.73×
Break-even
- Price that breaks even
- $189,687
- Rent that breaks even
- $3,697/mo
Long run
- Year 30: property vs stocks
- $798K vs $416K
- Cash flow turns positive
- year 10
The deal
- Price
- $250,000
- Cash to close
- $32,500
- Price per unit
- $125,000
- GRM
- 6.9
Each month
- Cash flow
- −$139/mo
- Cash-on-cash
- −5.1%
- Cap rate
- 7.2%
- DSCR
- 0.92×
Break-even
- Price that breaks even
- $228,757
- Rent that breaks even
- $3,206/mo
Long run
- Year 30: property vs stocks
- $1.11M vs $272K
- Cash flow turns positive
- year 5
The deal
- Price
- $250,000
- Cash to close
- $32,500
- Price per unit
- $125,000
- GRM
- 6.9
Each month
- Cash flow
- −$395/mo
- Cash-on-cash
- −14.6%
- Cap rate
- 6.0%
- DSCR
- 0.76×
Break-even
- Price that breaks even
- $189,687
- Rent that breaks even
- $3,601/mo
Long run
- Year 30: property vs stocks
- $809K vs $370K
- Cash flow turns positive
- year 9
The deal
- Price
- $260,000
- Cash to close
- $59,800
- Price per unit
- $130,000
- GRM
- 7.2
Each month
- Cash flow
- $115/mo
- Cash-on-cash
- 2.3%
- Cap rate
- 6.9%
- DSCR
- 1.08×
Break-even
- Price that breaks even
- $281,527
- Rent that breaks even
- $2,876/mo
Long run
- Year 30: property vs stocks
- $1.28M vs $455K
- Cash flow turns positive
- year 1
The deal
- Price
- $260,000
- Cash to close
- $59,800
- Price per unit
- $130,000
- GRM
- 7.2
Each month
- Cash flow
- −$141/mo
- Cash-on-cash
- −2.8%
- Cap rate
- 5.7%
- DSCR
- 0.90×
Break-even
- Price that breaks even
- $233,445
- Rent that breaks even
- $3,231/mo
Long run
- Year 30: property vs stocks
- $910K vs $484K
- Cash flow turns positive
- year 6
The deal
- Price
- $250,000
- Cash to close
- $57,500
- Price per unit
- $125,000
- GRM
- 6.9
Each month
- Cash flow
- $168/mo
- Cash-on-cash
- 3.5%
- Cap rate
- 7.2%
- DSCR
- 1.13×
Break-even
- Price that breaks even
- $281,527
- Rent that breaks even
- $2,807/mo
Long run
- Year 30: property vs stocks
- $1.32M vs $438K
- Cash flow turns positive
- year 1
The deal
- Price
- $250,000
- Cash to close
- $57,500
- Price per unit
- $125,000
- GRM
- 6.9
Each month
- Cash flow
- −$88/mo
- Cash-on-cash
- −1.8%
- Cap rate
- 6.0%
- DSCR
- 0.93×
Break-even
- Price that breaks even
- $233,445
- Rent that breaks even
- $3,154/mo
Long run
- Year 30: property vs stocks
- $932K vs $451K
- Cash flow turns positive
- year 4
The deal
- Price
- $260,000
- Cash to close
- $72,800
- Price per unit
- $130,000
- GRM
- 7.2
Each month
- Cash flow
- $201/mo
- Cash-on-cash
- 3.3%
- Cap rate
- 6.9%
- DSCR
- 1.15×
Break-even
- Price that breaks even
- $300,296
- Rent that breaks even
- $2,764/mo
Long run
- Year 30: property vs stocks
- $1.38M vs $554K
- Cash flow turns positive
- year 1
The deal
- Price
- $260,000
- Cash to close
- $72,800
- Price per unit
- $130,000
- GRM
- 7.2
Each month
- Cash flow
- −$55/mo
- Cash-on-cash
- −0.9%
- Cap rate
- 5.7%
- DSCR
- 0.96×
Break-even
- Price that breaks even
- $249,008
- Rent that breaks even
- $3,105/mo
Long run
- Year 30: property vs stocks
- $985K vs $561K
- Cash flow turns positive
- year 3
The deal
- Price
- $250,000
- Cash to close
- $70,000
- Price per unit
- $125,000
- GRM
- 6.9
Each month
- Cash flow
- $251/mo
- Cash-on-cash
- 4.3%
- Cap rate
- 7.2%
- DSCR
- 1.20×
Break-even
- Price that breaks even
- $300,296
- Rent that breaks even
- $2,699/mo
Long run
- Year 30: property vs stocks
- $1.41M vs $533K
- Cash flow turns positive
- year 1
The deal
- Price
- $250,000
- Cash to close
- $70,000
- Price per unit
- $125,000
- GRM
- 6.9
Each month
- Cash flow
- −$5/mo
- Cash-on-cash
- −0.1%
- Cap rate
- 6.0%
- DSCR
- 1.00×
Break-even
- Price that breaks even
- $249,008
- Rent that breaks even
- $3,032/mo
Long run
- Year 30: property vs stocks
- $1.01M vs $533K
- Cash flow turns positive
- year 2
Monthly
Monthly breakdown
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Net operating income | $1,498 |
| Mortgage (principal + interest) | −$1,557 |
| PMI | −$146 |
| Cash flow | −$205 |
| Principal paid down (equity, not cash) | $198 |
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Property management | −$256 |
| Net operating income | $1,242 |
| Mortgage (principal + interest) | −$1,557 |
| PMI | −$146 |
| Cash flow | −$461 |
| Principal paid down (equity, not cash) | $198 |
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Net operating income | $1,498 |
| Mortgage (principal + interest) | −$1,497 |
| PMI | −$141 |
| Cash flow | −$139 |
| Principal paid down (equity, not cash) | $190 |
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Property management | −$256 |
| Net operating income | $1,242 |
| Mortgage (principal + interest) | −$1,497 |
| PMI | −$141 |
| Cash flow | −$395 |
| Principal paid down (equity, not cash) | $190 |
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Net operating income | $1,498 |
| Mortgage (principal + interest) | −$1,384 |
| Cash flow | $115 |
| Principal paid down (equity, not cash) | $176 |
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Property management | −$256 |
| Net operating income | $1,242 |
| Mortgage (principal + interest) | −$1,384 |
| Cash flow | −$141 |
| Principal paid down (equity, not cash) | $176 |
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Net operating income | $1,498 |
| Mortgage (principal + interest) | −$1,331 |
| Cash flow | $168 |
| Principal paid down (equity, not cash) | $169 |
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Property management | −$256 |
| Net operating income | $1,242 |
| Mortgage (principal + interest) | −$1,331 |
| Cash flow | −$88 |
| Principal paid down (equity, not cash) | $169 |
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Net operating income | $1,498 |
| Mortgage (principal + interest) | −$1,297 |
| Cash flow | $201 |
| Principal paid down (equity, not cash) | $165 |
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Property management | −$256 |
| Net operating income | $1,242 |
| Mortgage (principal + interest) | −$1,297 |
| Cash flow | −$55 |
| Principal paid down (equity, not cash) | $165 |
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Net operating income | $1,498 |
| Mortgage (principal + interest) | −$1,247 |
| Cash flow | $251 |
| Principal paid down (equity, not cash) | $159 |
| Rent | $3,025 |
| Vacancy (6%) | −$182 |
| Collected | $2,844 |
| Property tax Public record | −$392 |
| Insurance Estimate | −$209 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$242 |
| Capital reserve (9% of rent) | −$272 |
| Property management | −$256 |
| Net operating income | $1,242 |
| Mortgage (principal + interest) | −$1,247 |
| Cash flow | −$5 |
| Principal paid down (equity, not cash) | $159 |
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
- $593,223
- Rental profits, invested at 7%
- $489,462
Sells for $631,088 (value up 3% a year), minus 6% selling cost ($37,865). Rent paid down $234,000 of loan.
$254,459 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $257,294
- Monthly shortfalls, invested
- $45,145
$33,800 put into an index fund instead of the down payment and closing costs.
$6,834 you'd have paid in while the building lost money, invested instead.
The building comes out $780,246 ahead after 30 years.
- Your equity when you sell
- $593,223
- Rental profits, invested at 7%
- $204,469
Sells for $631,088 (value up 3% a year), minus 6% selling cost ($37,865). Rent paid down $234,000 of loan.
$127,294 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $257,294
- Monthly shortfalls, invested
- $158,227
$33,800 put into an index fund instead of the down payment and closing costs.
$25,772 you'd have paid in while the building lost money, invested instead.
The building comes out $382,171 ahead after 30 years.
- Your equity when you sell
- $570,407
- Rental profits, invested at 7%
- $538,808
Sells for $606,816 (value up 3% a year), minus 6% selling cost ($36,409). Rent paid down $225,000 of loan.
$273,140 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $247,398
- Monthly shortfalls, invested
- $24,878
$32,500 put into an index fund instead of the down payment and closing costs.
$3,690 you'd have paid in while the building lost money, invested instead.
The building comes out $836,939 ahead after 30 years.
- Your equity when you sell
- $570,407
- Rental profits, invested at 7%
- $238,467
Sells for $606,816 (value up 3% a year), minus 6% selling cost ($36,409). Rent paid down $225,000 of loan.
$142,808 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $247,398
- Monthly shortfalls, invested
- $122,612
$32,500 put into an index fund instead of the down payment and closing costs.
$19,460 you'd have paid in while the building lost money, invested instead.
The building comes out $438,863 ahead after 30 years.
- Your equity when you sell
- $593,223
- Rental profits, invested at 7%
- $685,645
Sells for $631,088 (value up 3% a year), minus 6% selling cost ($37,865). Rent paid down $208,000 of loan.
$316,917 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $455,213
$59,800 put into an index fund instead of the down payment and closing costs.
The building comes out $823,655 ahead after 30 years.
- Your equity when you sell
- $593,223
- Rental profits, invested at 7%
- $316,793
Sells for $631,088 (value up 3% a year), minus 6% selling cost ($37,865). Rent paid down $208,000 of loan.
$175,217 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $455,213
- Monthly shortfalls, invested
- $29,223
$59,800 put into an index fund instead of the down payment and closing costs.
$4,403 you'd have paid in while the building lost money, invested instead.
The building comes out $425,580 ahead after 30 years.
- Your equity when you sell
- $570,407
- Rental profits, invested at 7%
- $745,976
Sells for $606,816 (value up 3% a year), minus 6% selling cost ($36,409). Rent paid down $200,000 of loan.
$336,078 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $437,705
$57,500 put into an index fund instead of the down payment and closing costs.
The building comes out $878,678 ahead after 30 years.
- Your equity when you sell
- $570,407
- Rental profits, invested at 7%
- $361,379
Sells for $606,816 (value up 3% a year), minus 6% selling cost ($36,409). Rent paid down $200,000 of loan.
$191,945 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $437,705
- Monthly shortfalls, invested
- $13,478
$57,500 put into an index fund instead of the down payment and closing costs.
$1,970 you'd have paid in while the building lost money, invested instead.
The building comes out $480,603 ahead after 30 years.
- Your equity when you sell
- $593,223
- Rental profits, invested at 7%
- $783,683
Sells for $631,088 (value up 3% a year), minus 6% selling cost ($37,865). Rent paid down $195,000 of loan.
$348,054 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $554,172
$72,800 put into an index fund instead of the down payment and closing costs.
The building comes out $822,734 ahead after 30 years.
- Your equity when you sell
- $593,223
- Rental profits, invested at 7%
- $392,024
Sells for $631,088 (value up 3% a year), minus 6% selling cost ($37,865). Rent paid down $195,000 of loan.
$202,869 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $554,172
- Monthly shortfalls, invested
- $6,416
$72,800 put into an index fund instead of the down payment and closing costs.
$919 you'd have paid in while the building lost money, invested instead.
The building comes out $424,659 ahead after 30 years.
- Your equity when you sell
- $570,407
- Rental profits, invested at 7%
- $840,244
Sells for $606,816 (value up 3% a year), minus 6% selling cost ($36,409). Rent paid down $187,500 of loan.
$366,017 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $532,858
$70,000 put into an index fund instead of the down payment and closing costs.
The building comes out $877,792 ahead after 30 years.
- Your equity when you sell
- $570,407
- Rental profits, invested at 7%
- $442,591
Sells for $606,816 (value up 3% a year), minus 6% selling cost ($36,409). Rent paid down $187,500 of loan.
$219,973 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $532,858
- Monthly shortfalls, invested
- $423
$70,000 put into an index fund instead of the down payment and closing costs.
$59 you'd have paid in while the building lost money, invested instead.
The building comes out $479,717 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 $1.08M, stocks $302K. The property wins.
Year 30 (loan paid off): property $798K, stocks $416K. The property wins.
Year 30 (loan paid off): property $1.11M, stocks $272K. The property wins.
Year 30 (loan paid off): property $809K, stocks $370K. The property wins.
Year 30 (loan paid off): property $1.28M, stocks $455K. The property wins.
Year 30 (loan paid off): property $910K, stocks $484K. The property wins.
Year 30 (loan paid off): property $1.32M, stocks $438K. The property wins.
Year 30 (loan paid off): property $932K, stocks $451K. The property wins.
Year 30 (loan paid off): property $1.38M, stocks $554K. The property wins.
Year 30 (loan paid off): property $985K, stocks $561K. The property wins.
Year 30 (loan paid off): property $1.41M, stocks $533K. The property wins.
Year 30 (loan paid off): property $1.01M, stocks $533K. 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 $1,725/mo · range $1,325–$1,850 · 11 rentals within 1.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 736 Geranium Ave E Apt A, Saint Paul | $1,600 | 3 / 1 | 0.3 mi |
| Ross Ave Unit 1090, Saint Paul | $1,910 | 3 / 1 | 0.8 mi |
| 586 Reaney Ave E Unit 586U2, Saint Paul | $1,614 | 3 / 1 | 0.9 mi |
| 595 Minnehaha Ave E, Saint Paul | $1,155 | 3 / 1 | 0.9 mi |
| 1124 Minnehaha Ave E Apt 1, Saint Paul | $1,750 | 3 / 1 | 1.0 mi |
| 691 Bedford St Unit A, Saint Paul | $2,052 | 3 / 1 | 1.1 mi |
| 1056 3rd St E, Saint Paul | $1,695 | 3 / 1 | 1.3 mi |
| 1056 3rd St E, Saint Paul | $1,695 | 3 / 1 | 1.3 mi |
| 283-289 Bates Ave, Saint Paul | $1,249 | 3 / 1 | 1.4 mi |
| 880 Wilson Ave, Saint Paul | $1,425 | 3 / 1 | 1.4 mi |
2 bed estimate $1,300/mo · range $1,150–$1,500 · 25 rentals within 1.5 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 914 Lawson Ave E, Saint Paul | $1,490 | 2 / 1 | 0.2 mi |
| 734 Sims Ave, Saint Paul | $1,695 | 2 / 1 | 0.5 mi |
| 1360 Payne Ave, Saint Paul | $1,199 | 2 / 1 | 0.7 mi |
| 904-906 Burr St, Saint Paul | $999 | 2 / 1 | 0.8 mi |
| 1270 Magnolia Ave E Apt 205, Saint Paul | $995 | 2 / 1 | 0.9 mi |
| 1267 Cook Ave E, Saint Paul | $995 | 2 / 1 | 0.9 mi |
| 953 Desoto St, Saint Paul | $950 | 2 / 1 | 0.9 mi |
| 1039-1041 Arkwright St, Saint Paul | $1,445 | 2 / 1 | 1.0 mi |
| 1310 Maryland Ave E, Saint Paul | $1,226 | 2 / 1 | 1.0 mi |
| 1348 Ames Ave, Saint Paul | $1,275 | 2 / 1 | 1.1 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
- mediumUnit may need to be delivered vacant, so the seller's tenant situation is unclear, and no rents are disclosed Listing says: Property shows immense potential and will shine vacant-ideal investor or owner-occupant opportunity. · AI review
- mediumRental license is only 'Pending', so confirm it is valid and transfers for two units Based on: data: city.rental_license · 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 282922220168: special assessments (payable 2026) = $432.50
- lowListed 64 days with vague, promotional wording and no income figures Based on: data: listing.days_on_market · AI review
Opportunities
- Price is about 9% above county market value, but the rehab angle may justify negotiating down Based on: data: county.market_value · AI review
- Garage and fenced yard add tenant appeal and rent support Listing says: You will also have your very own garage. · AI review
- Original woodwork and stained glass support character-driven rents once refreshed Listing says: The windows, antique stained glass and that wonderful old wood trim makes this home a dream come true. · AI review
Questions for the agent
- Is the property occupied, and will it be delivered vacant? What are current rents and lease terms?
- Which utilities are on separate meters, and is there one heating system or two?
- What are the ages of the roof, boiler or furnace, water heater and electrical panels?
- What is in the upgrade list in the supplements, and who did the work and when?
- What is the $432 special assessment for, and will the seller pay it off at closing?
- Why has it sat 64 days, and has the price changed?
Bottom line
Marginal at $260K: the numbers only work at our estimated rents, so verify the rents, the systems and the vacancy situation before offering. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $4,704 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,507 |
| 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 1889: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-07-30 (67 days); down $4,000 (1.5%) from the first ask of $264,000; last sold for $194,000 on 2021-02-26.
| Date | Event | Price |
|---|---|---|
| Price changed | $260,000 | |
| Listed | $264,000 | |
| Sold | $194,000 | |
| Relisted | $194,000 | |
| Removed | $194,000 | |
| Price changed | $194,000 | |
| Listed | $200,000 | |
| Sold | $59,000 | |
| Listed | $59,000 | |
| Sold public record | $121,000 | |
| Sold public record | $51,900 |
County record Public record
| Recorded as | two family dwelling - up/dwn |
| Living units | 2 |
| Year built | 1889 |
| Market value (2026) | $239,100 |
| Property tax, payable 2026 | $4,704 |
| Special assessments | $432 |
| Homestead | no |
| Last sale | 2021-02-26 · $194,000 |
Source: Ramsey County parcel records.
City rental certificate (CofO)
Residential 2 Units: 2 unit(s), A, status pending, renews 2028-11-02.
Nearest highway
I 35E;US 10, about 1886 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.