892 4th St E
Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,604 sq ft
Saint Paul, MN · Dayton's Bluff · View the listing ↗
Photos, via Realtor.com.
- Asking price
- $329,000 2 units · $164K per unit
- Monthly cash flow
- −$525 at 20% down, 7%
- Break-even price
- $230,423 where cash flow hits $0
First look
This is a full gut rebuild of an up/down duplex, and the photos back that up with new kitchens, baths, floors and windows. The numbers still don't work. At $329K our model shows about -$525/mo cash flow and a 4.5% cap rate, and break-even is near $230K, roughly $99K under ask. The county's market value is only $123K, which suggests the assessor hasn't caught up with the rebuild or the price is well ahead of local comps. The listing says nothing about permits, rents or tenants. The building has been on the city's Vacant Building registry since October 2024 and has no rental license on file, so start there. Worth a showing only if the price drops hard and the permits and city file check out.
Things to consider
- Price vs. income Our model shows negative cash flow and a break-even price about $99K under ask. At this price you are paying for a finished product the rents can't support.
- Vacant Building registry Registry status can limit sale or occupancy until the city approves. Confirm the category and release before spending on inspections.
- Rental licensing No rental certificate is on file. You can't legally rent without one, and the inspection could reveal required fixes.
- Tax reassessment risk County value is $123K versus a $329K ask. A reassessment after the rebuild and sale could raise taxes and hurt cash flow.
- Rent estimates are modest Our estimate is about $1,325 per 2-bed. Even with new finishes, rents likely cap around $1,550, which won't carry this price.
- Low maintenance outlook If the work was permitted and done well, repairs and reserves should be low for years, which is the main thing this property has going for it.Listing says: “Completely rebuilt from the studs up”
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 roofListing says: Exterior improvements include new steel siding and a new roof.
- doneNew electrical from the outside meter throughoutListing says: electrical systems from the outside meter throughout the home
- doneAll new plumbing, water service from the street, and waste and vent stacksListing says: all new plumbing and water lines including the water service from the street
- doneNew furnaces, water heaters and ductworkListing says: new high-efficiency furnaces, water heaters, ductwork, insulation, sheetrock
- doneNew kitchens, baths, flooring, appliances, windows and doorsListing says: all-new kitchens, bathrooms, flooring, appliances, windows, and doors with absolutely no carpet
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
- $329,000
- Cash to close
- $42,770
- Price per unit
- $164,500
- GRM
- 10.3
Each month
- Cash flow
- −$929/mo
- Cash-on-cash
- −26.1%
- Cap rate
- 4.5%
- DSCR
- 0.57×
Break-even
- Price that breaks even
- $187,232
- Rent that breaks even
- $3,856/mo
Long run
- Year 30: property vs stocks
- $805K vs $837K
- Cash flow turns positive
- year 20
The deal
- Price
- $329,000
- Cash to close
- $42,770
- Price per unit
- $164,500
- GRM
- 10.3
Each month
- Cash flow
- −$1,153/mo
- Cash-on-cash
- −32.3%
- Cap rate
- 3.7%
- DSCR
- 0.47×
Break-even
- Price that breaks even
- $153,005
- Rent that breaks even
- $4,332/mo
Long run
- Year 30: property vs stocks
- $753K vs $1.13M
- Cash flow turns positive
- year 28
The deal
- Price
- $319,000
- Cash to close
- $41,470
- Price per unit
- $159,500
- GRM
- 10.0
Each month
- Cash flow
- −$863/mo
- Cash-on-cash
- −25.0%
- Cap rate
- 4.6%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $187,232
- Rent that breaks even
- $3,771/mo
Long run
- Year 30: property vs stocks
- $795K vs $771K
- Cash flow turns positive
- year 18
The deal
- Price
- $319,000
- Cash to close
- $41,470
- Price per unit
- $159,500
- GRM
- 10.0
Each month
- Cash flow
- −$1,087/mo
- Cash-on-cash
- −31.5%
- Cap rate
- 3.8%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $153,005
- Rent that breaks even
- $4,236/mo
Long run
- Year 30: property vs stocks
- $732K vs $1.06M
- Cash flow turns positive
- year 27
The deal
- Price
- $329,000
- Cash to close
- $75,670
- Price per unit
- $164,500
- GRM
- 10.3
Each month
- Cash flow
- −$525/mo
- Cash-on-cash
- −8.3%
- Cap rate
- 4.5%
- DSCR
- 0.70×
Break-even
- Price that breaks even
- $230,423
- Rent that breaks even
- $3,331/mo
Long run
- Year 30: property vs stocks
- $862K vs $839K
- Cash flow turns positive
- year 15
The deal
- Price
- $329,000
- Cash to close
- $75,670
- Price per unit
- $164,500
- GRM
- 10.3
Each month
- Cash flow
- −$749/mo
- Cash-on-cash
- −11.9%
- Cap rate
- 3.7%
- DSCR
- 0.57×
Break-even
- Price that breaks even
- $188,302
- Rent that breaks even
- $3,743/mo
Long run
- Year 30: property vs stocks
- $768K vs $1.09M
- Cash flow turns positive
- year 24
The deal
- Price
- $319,000
- Cash to close
- $73,370
- Price per unit
- $159,500
- GRM
- 10.0
Each month
- Cash flow
- −$471/mo
- Cash-on-cash
- −7.7%
- Cap rate
- 4.6%
- DSCR
- 0.72×
Break-even
- Price that breaks even
- $230,423
- Rent that breaks even
- $3,262/mo
Long run
- Year 30: property vs stocks
- $858K vs $780K
- Cash flow turns positive
- year 14
The deal
- Price
- $319,000
- Cash to close
- $73,370
- Price per unit
- $159,500
- GRM
- 10.0
Each month
- Cash flow
- −$696/mo
- Cash-on-cash
- −11.4%
- Cap rate
- 3.8%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $188,302
- Rent that breaks even
- $3,665/mo
Long run
- Year 30: property vs stocks
- $751K vs $1.02M
- Cash flow turns positive
- year 22
The deal
- Price
- $329,000
- Cash to close
- $92,120
- Price per unit
- $164,500
- GRM
- 10.3
Each month
- Cash flow
- −$415/mo
- Cash-on-cash
- −5.4%
- Cap rate
- 4.5%
- DSCR
- 0.75×
Break-even
- Price that breaks even
- $245,785
- Rent that breaks even
- $3,189/mo
Long run
- Year 30: property vs stocks
- $903K vs $882K
- Cash flow turns positive
- year 13
The deal
- Price
- $329,000
- Cash to close
- $92,120
- Price per unit
- $164,500
- GRM
- 10.3
Each month
- Cash flow
- −$639/mo
- Cash-on-cash
- −8.3%
- Cap rate
- 3.7%
- DSCR
- 0.61×
Break-even
- Price that breaks even
- $200,855
- Rent that breaks even
- $3,583/mo
Long run
- Year 30: property vs stocks
- $783K vs $1.11M
- Cash flow turns positive
- year 21
The deal
- Price
- $319,000
- Cash to close
- $89,320
- Price per unit
- $159,500
- GRM
- 10.0
Each month
- Cash flow
- −$365/mo
- Cash-on-cash
- −4.9%
- Cap rate
- 4.6%
- DSCR
- 0.77×
Break-even
- Price that breaks even
- $245,785
- Rent that breaks even
- $3,124/mo
Long run
- Year 30: property vs stocks
- $902K vs $826K
- Cash flow turns positive
- year 11
The deal
- Price
- $319,000
- Cash to close
- $89,320
- Price per unit
- $159,500
- GRM
- 10.0
Each month
- Cash flow
- −$590/mo
- Cash-on-cash
- −7.9%
- Cap rate
- 3.8%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $200,855
- Rent that breaks even
- $3,510/mo
Long run
- Year 30: property vs stocks
- $769K vs $1.04M
- Cash flow turns positive
- year 20
Monthly
Monthly breakdown
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$1,970 |
| PMI | −$185 |
| Cash flow | −$929 |
| Principal paid down (equity, not cash) | $251 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,002 |
| Mortgage (principal + interest) | −$1,970 |
| PMI | −$185 |
| Cash flow | −$1,153 |
| Principal paid down (equity, not cash) | $251 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$1,910 |
| PMI | −$179 |
| Cash flow | −$863 |
| Principal paid down (equity, not cash) | $243 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,002 |
| Mortgage (principal + interest) | −$1,910 |
| PMI | −$179 |
| Cash flow | −$1,087 |
| Principal paid down (equity, not cash) | $243 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$1,751 |
| Cash flow | −$525 |
| Principal paid down (equity, not cash) | $223 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,002 |
| Mortgage (principal + interest) | −$1,751 |
| Cash flow | −$749 |
| Principal paid down (equity, not cash) | $223 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$1,698 |
| Cash flow | −$471 |
| Principal paid down (equity, not cash) | $216 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,002 |
| Mortgage (principal + interest) | −$1,698 |
| Cash flow | −$696 |
| Principal paid down (equity, not cash) | $216 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$1,642 |
| Cash flow | −$415 |
| Principal paid down (equity, not cash) | $209 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,002 |
| Mortgage (principal + interest) | −$1,642 |
| Cash flow | −$639 |
| Principal paid down (equity, not cash) | $209 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Net operating income | $1,226 |
| Mortgage (principal + interest) | −$1,592 |
| Cash flow | −$365 |
| Principal paid down (equity, not cash) | $203 |
| Rent | $2,650 |
| Vacancy (6%) | −$159 |
| Collected | $2,491 |
| Property tax Public record | −$382 |
| Insurance Estimate | −$202 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$212 |
| Capital reserve (9% of rent) | −$238 |
| Property management | −$224 |
| Net operating income | $1,002 |
| Mortgage (principal + interest) | −$1,592 |
| Cash flow | −$590 |
| Principal paid down (equity, not cash) | $203 |
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
- $750,655
- Rental profits, invested at 7%
- $54,356
Sells for $798,569 (value up 3% a year), minus 6% selling cost ($47,914). Rent paid down $296,100 of loan.
$43,065 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $325,576
- Monthly shortfalls, invested
- $511,915
$42,770 put into an index fund instead of the down payment and closing costs.
$100,508 you'd have paid in while the building lost money, invested instead.
Stocks come out $32,481 ahead after 30 years.
- Your equity when you sell
- $750,655
- Rental profits, invested at 7%
- $1,956
Sells for $798,569 (value up 3% a year), minus 6% selling cost ($47,914). Rent paid down $296,100 of loan.
$1,906 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $325,576
- Monthly shortfalls, invested
- $808,243
$42,770 put into an index fund instead of the down payment and closing costs.
$187,340 you'd have paid in while the building lost money, invested instead.
Stocks come out $381,207 ahead after 30 years.
- Your equity when you sell
- $727,839
- Rental profits, invested at 7%
- $67,040
Sells for $774,297 (value up 3% a year), minus 6% selling cost ($46,458). Rent paid down $287,100 of loan.
$51,605 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $315,680
- Monthly shortfalls, invested
- $454,987
$41,470 put into an index fund instead of the down payment and closing costs.
$87,223 you'd have paid in while the building lost money, invested instead.
The building comes out $24,212 ahead after 30 years.
- Your equity when you sell
- $727,839
- Rental profits, invested at 7%
- $4,497
Sells for $774,297 (value up 3% a year), minus 6% selling cost ($46,458). Rent paid down $287,100 of loan.
$4,250 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $315,680
- Monthly shortfalls, invested
- $741,171
$41,470 put into an index fund instead of the down payment and closing costs.
$167,859 you'd have paid in while the building lost money, invested instead.
Stocks come out $324,515 ahead after 30 years.
- Your equity when you sell
- $750,655
- Rental profits, invested at 7%
- $111,266
Sells for $798,569 (value up 3% a year), minus 6% selling cost ($47,914). Rent paid down $263,200 of loan.
$78,731 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $576,019
- Monthly shortfalls, invested
- $263,453
$75,670 put into an index fund instead of the down payment and closing costs.
$48,493 you'd have paid in while the building lost money, invested instead.
The building comes out $22,448 ahead after 30 years.
- Your equity when you sell
- $750,655
- Rental profits, invested at 7%
- $17,044
Sells for $798,569 (value up 3% a year), minus 6% selling cost ($47,914). Rent paid down $263,200 of loan.
$14,857 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $576,019
- Monthly shortfalls, invested
- $517,958
$75,670 put into an index fund instead of the down payment and closing costs.
$112,610 you'd have paid in while the building lost money, invested instead.
Stocks come out $326,278 ahead after 30 years.
- Your equity when you sell
- $727,839
- Rental profits, invested at 7%
- $129,981
Sells for $774,297 (value up 3% a year), minus 6% selling cost ($46,458). Rent paid down $255,200 of loan.
$89,256 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $558,511
- Monthly shortfalls, invested
- $221,837
$73,370 put into an index fund instead of the down payment and closing costs.
$39,857 you'd have paid in while the building lost money, invested instead.
The building comes out $77,472 ahead after 30 years.
- Your equity when you sell
- $727,839
- Rental profits, invested at 7%
- $23,572
Sells for $774,297 (value up 3% a year), minus 6% selling cost ($46,458). Rent paid down $255,200 of loan.
$19,947 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $558,511
- Monthly shortfalls, invested
- $464,155
$73,370 put into an index fund instead of the down payment and closing costs.
$98,539 you'd have paid in while the building lost money, invested instead.
Stocks come out $271,255 ahead after 30 years.
- Your equity when you sell
- $750,655
- Rental profits, invested at 7%
- $152,207
Sells for $798,569 (value up 3% a year), minus 6% selling cost ($47,914). Rent paid down $246,750 of loan.
$101,174 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $701,241
- Monthly shortfalls, invested
- $180,338
$92,120 put into an index fund instead of the down payment and closing costs.
$31,537 you'd have paid in while the building lost money, invested instead.
The building comes out $21,283 ahead after 30 years.
- Your equity when you sell
- $750,655
- Rental profits, invested at 7%
- $32,070
Sells for $798,569 (value up 3% a year), minus 6% selling cost ($47,914). Rent paid down $246,750 of loan.
$26,246 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $701,241
- Monthly shortfalls, invested
- $408,928
$92,120 put into an index fund instead of the down payment and closing costs.
$84,599 you'd have paid in while the building lost money, invested instead.
Stocks come out $327,443 ahead after 30 years.
- Your equity when you sell
- $727,839
- Rental profits, invested at 7%
- $174,454
Sells for $774,297 (value up 3% a year), minus 6% selling cost ($46,458). Rent paid down $239,250 of loan.
$112,509 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $679,927
- Monthly shortfalls, invested
- $146,024
$89,320 put into an index fund instead of the down payment and closing costs.
$24,909 you'd have paid in while the building lost money, invested instead.
The building comes out $76,342 ahead after 30 years.
- Your equity when you sell
- $727,839
- Rental profits, invested at 7%
- $41,006
Sells for $774,297 (value up 3% a year), minus 6% selling cost ($46,458). Rent paid down $239,250 of loan.
$32,570 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $679,927
- Monthly shortfalls, invested
- $361,304
$89,320 put into an index fund instead of the down payment and closing costs.
$72,961 you'd have paid in while the building lost money, invested instead.
Stocks come out $272,385 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 $805K, stocks $837K. Stocks win.
Year 30 (loan paid off): property $753K, stocks $1.13M. Stocks win.
Year 30 (loan paid off): property $795K, stocks $771K. The property wins.
Year 30 (loan paid off): property $732K, stocks $1.06M. Stocks win.
Year 30 (loan paid off): property $862K, stocks $839K. The property wins.
Year 30 (loan paid off): property $768K, stocks $1.09M. Stocks win.
Year 30 (loan paid off): property $858K, stocks $780K. The property wins.
Year 30 (loan paid off): property $751K, stocks $1.02M. Stocks win.
Year 30 (loan paid off): property $903K, stocks $882K. The property wins.
Year 30 (loan paid off): property $783K, stocks $1.11M. Stocks win.
Year 30 (loan paid off): property $902K, stocks $826K. The property wins.
Year 30 (loan paid off): property $769K, stocks $1.04M. 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 $1,325/mo · range $1,175–$1,375 · 7 rentals within 0.75 mi
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 948 Euclid St Unit 1, Saint Paul | $1,400 | 2 / 1 | 0.3 mi |
| 207 N Maple St, Saint Paul | $1,150 | 2 / 1 | 0.3 mi |
| 283-289 Bates Ave, Saint Paul | $1,124 | 2 / 1 | 0.3 mi |
| 701 E 3rd St, Saint Paul | $1,099 | 2 / 1 | 0.4 mi |
| 1000 McLean Ave, Saint Paul | $1,299 | 2 / 1 | 0.6 mi |
| 1034 Suburban Ave E Unit 307, Saint Paul | $1,270 | 2 / 1 | 0.7 mi |
| 1034 Suburban Ave E Unit 301, Saint Paul | $1,270 | 2 / 1 | 0.7 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
- highOn the city's Vacant Building registry (Category 1). In St. Paul, Categories 2 and 3 can't be sold or occupied without city approval and a code-compliance plan. Public record: St. Paul Vacant Buildings registry: 892 4TH ST E, Category 1, vacant as of 10/17/2024
- highVacant-building history means the rebuild may have been done under a city code-compliance process; confirm permits were closed Based on: data: city.vacant_building · 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 892 4TH ST E (dataset last updated mid-2025)
- mediumAssessed value is far below the ask, so property taxes may jump after reassessment Based on: data: county.market_value · AI review
- mediumPhotos show baseboard hot-water heat, which conflicts with the description's furnaces and ductwork Listing says: new high-efficiency furnaces, water heaters, ductwork, insulation, sheetrock · AI review
- mediumListing gives no rents, tenant status or rental license, so income is unproven Based on: data: city.rental_license · 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 332922230041: special assessments (payable 2026) = $572.02
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 140 days on market
- Almost no near-term capex after a full rebuild, so reserves can be set low Listing says: Completely rebuilt from the studs up · AI review
- Price has room to fall: 137 days on market and break-even is far below ask Based on: data: listing.days_on_market · AI review
- Could be converted to or sold as an owner-occupied home Listing says: convert it into a spacious single-family home · AI review
Questions for the agent
- Can I see the permits, final inspections and the city's release from the Vacant Building registry?
- Who did the work, and is there any warranty or contractor documentation?
- Does each unit have separate heat, water heater and electric meter? The photos show baseboard heat, not ductwork.
- What are the $572 in special assessments for, and does the seller pay them at closing?
- Has the city issued or scheduled a rental license inspection (CofO)?
- Why has it sat 137 days, and has the price changed?
Bottom line
Nicely rebuilt on paper, but at $329K it loses money every month and the vacant-building status needs to be cleared before anything else. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead) | $4,588 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,421 |
| 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 2026-05-18 (140 days); down $36,000 (9.9%) from the first ask of $365,000.
| Date | Event | Price |
|---|---|---|
| Price changed | $329,000 | |
| Price changed | $339,000 | |
| Relisted | $350,000 | |
| Removed | — | |
| Price changed | $350,000 | |
| Listed | $365,000 |
County record Public record
| Recorded as | two family dwelling - up/dwn |
| Living units | 2 |
| Year built | 1900 |
| Market value (2026) | $123,000 |
| Property tax, payable 2026 | $4,588 |
| Special assessments | $572 |
| Homestead | no |
| Last sale | — |
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 700 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.