855 Hague Ave

Triplex · 3 units: mix unknown ×3 · 2,526 sq ft

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

Overpriced

25 photos

Photos, via Realtor.com.

Needs more info before these numbers mean much. The county records 2 living units (two family dwelling - up/dwn), but this analysis counts 3. An extra unit may not be legal or licensed; confirm before counting its rent.

Asking price: $350,000
Monthly cash flow: −$554
Estimated rent: $3,300/mo
Break-even price: $245,867

Adjust the numbers See the full breakdown

From the listing

Fantastic opportunity to house-hack, multi-generational living, add to your rental portfolio, or just live in a great part of St. Paul! This versatile duplex has multiple paths to income. Each unit is 1 bed, 1 bath and move-in ready. The lower level can combine with the main floor to create a 2 bed, 2 bath layout, or function as a mother-in-law suite. Well maintained building with a strong rental history in a high-demand location. Driveway and off-street parking, plus walkable access to coffee shops, restaurants, transit, and William Mitchell School of Law. Gross rents currently $3,925 with two units month to month and one in a lease through August 31, 2027.

Description from Realtor.com, MLS #7143253. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

The listing says three 1-bed units, but the county records a two-family up/down, and the city has no rental license on file. That gap is the first thing to settle, because $3,925 in gross rents only counts if all three units are legal. At $350K our underwriting shows about -$554/month and a 4.5% cap rate, with a break-even price near $246K, so it doesn't work at the ask. Two of three tenants are month-to-month and the third has a lease through Aug 2027. The rent roll is not itemized, so ask for it by unit. I'd only tour it if the agent can show a rental license for three units, or if the price drops a lot.

Things to consider

Unit count and legality Rent from an unlicensed third unit may not be countable, and the city could require changes or block the rent. That swings the whole deal.
Cash flow is negative at the ask The underwriting shows about -$554/month at 4.5% cap, so you would be feeding the property every month unless you live in it or negotiate the price down substantially.
Two of three tenants are month-to-month Rent could drop quickly if they leave, and St. Paul's 3% cap limits increases on sitting tenants, so turnover is the main chance to reset rents.Listing says: “two units month to month and one in a lease through August 31, 2027”
Tax and assessments are heavy $7,153 in tax (non-homestead) plus $1,073 in assessments is a big drag on net income at these rents.
Stated rents vs our estimate $3,925 gross for three 1-beds is well above our estimate of about $3,300 total, so the actual rents may be high or the unit count may include something extra. Verify with leases.

From the photos

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

Rents the listing states

Whole building (3 units, itemized rents not given): $3,925Listing says: Gross rents currently $3,925 with two units month to month and one in a lease through August 31, 2027.

Condition and repairs

doneUnits described as move-in ready; building described as well maintainedListing says: Each unit is 1 bed, 1 bath and move-in ready.

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: $350,000
Cash to close: $80,500
Price per unit: $116,667
GRM: 8.8

Each month

Cash flow: −$554/mo
Cash-on-cash: −8.3%
Cap rate: 4.5%
DSCR: 0.70×

Break-even

Price that breaks even: $245,867
Rent that breaks even: $4,029/mo

Long run

Year 30: property vs stocks: $898K vs $899K
Cash flow turns positive: year 16

Monthly

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Public record	−$596
Insurance Our research	−$283
Water, sewer, trash Our research	−$260
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$297
Capital reserve (9% of rent)	−$297
Net operating income	$1,309
Mortgage (principal + interest)	−$1,863
Cash flow	−$554
Principal paid down (equity, not cash)	$237

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$898,147

Your equity when you sell: $798,569
Rental profits, invested at 7%: $99,578

Same money in stocks$898,869

Cash to close, invested at 7%: $612,787
Monthly shortfalls, invested: $286,083

Stocks come out $722 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 $898K, stocks $899K. Stocks win.

Red flags and opportunities

Watch for

highThe county records 2 living units (two family dwelling - up/dwn), but this analysis counts 3. An extra unit may not be legal or licensed; confirm before counting its rent. Public record: Ramsey County parcel 022823120157: living units=2, type=TWO FAMILY DWELLING - UP/DWN
highThird unit may not be legal; the listing also pitches combining the lower level with the main floor, which blurs the unit count Listing says: The lower level can combine with the main floor to create a 2 bed, 2 bath layout · AI review
highPrice is far above what the rents support; the break-even price is about $104K below the ask Based on: data: underwriting.break_even_price · 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 855 HAGUE AVE (dataset last updated mid-2025)
medium$1,073 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 022823120157: special assessments (payable 2026) = $1,073.30
mediumThe lower-level unit needs to be a legal, licensed unit with egress. Check the St. Paul rental license lists three units. Source: Our research notes
mediumSeller bought in 2015 for $188K and asks $350K; county market value is $326K Based on: data: county.last_sale_price · AI review
lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "Law. Gross rents currently $3,925 with two units month to month and one in a lease through August 31"
lowThree 1-bedrooms means more turnover than 2- and 3-beds: 1-bed tenants move more often. I kept vacancy at 6%, but budget for a turnover most years. Source: Our research notes
lowOwner-occupied-style marketing (house-hack, mother-in-law suite) suggests the rents may not be arm's-length or stable Listing says: Fantastic opportunity to house-hack, multi-generational living, add to your rental portfolio · AI review

Opportunities

Flexible layout: could run as a 2-unit with a larger main floor, or as a house-hack Listing says: The lower level can combine with the main floor to create a 2 bed, 2 bath layout · AI review
Off-street parking and a walkable location near transit and the law school help with tenant demand Listing says: Driveway and off-street parking, plus walkable access to coffee shops, restaurants, transit, and William Mitchell School of Law. · AI review
One tenant is locked in through Aug 2027, which gives some income stability Listing says: one in a lease through August 31, 2027 · AI review

Questions for the agent

Is the building licensed as a rental for two units or three? Can I see the license and last inspection?
Can I get the rent roll by unit, with lease dates and deposits?
Which unit holds the lease through Aug 2027, and what does it pay?
What are the $1,073 in special assessments for, and will the seller pay them off at closing?
Who pays heat, water and electric, and are there separate meters and furnaces for each unit?
Does the lower level have legal egress and ceiling height?

Bottom line

Cute building in a good location, but the third unit looks unpermitted and the price is well above what the rents support. AI-assisted summary

What the records say

Listing summary

Triplex of three 1-bed / 1-bath units, 2,526 sq ft, built 1895. Driveway and off-street parking. Tenants historically paid heat & electric. Walkable to Selby, Grand and transit.

Research notes

Listed since April with a $100K cut. Ask why and what the current rents are.

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)	$7,153
Insurance / yr Our researchour research. quote-based estimate	$3,400
Water, sewer, trash / mo Our researchour research	$260
Heat / mo Our researchour research	$0
Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal	$60
Repairs / capital reserve Our researchour research	9% / 9%

Price history Realtor.com

On the market since 2026-09-11 (24 days); down $50,000 (12.5%) from the first ask of $400,000; last sold for $199,900 on 2015-02-03.

Date	Event	Price
2026-09-11	Listed	$350,000
2026-09-11	Removed	$400,000
2015-02-03	Sold	$199,900
2014-10-16	Price changed	$199,900
2014-09-26	Listed	$209,900
2010-10-04	Sold public record	$70,515
1999-10-22	Sold public record	$56,000

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1895
Market value (2026)	$326,400
Property tax, payable 2026	$7,153
Special assessments	$1,073
Homestead	no
Last sale	2015-01-27 · $188,250

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 627 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.