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St. Paul › Payne – Phalen

914 Burr St

Triplex · 3 units: 2 bed / 1.5 bath ×2 and 1 bed / 1.5 bath unit split estimated · 2,816 sq ft

Saint Paul, MN · Payne – Phalen (Railroad Island) · View the listing ↗

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10 photos
914 Burr St, photo 1
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914 Burr St, photo 2
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914 Burr St, photo 3
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914 Burr St, photo 7
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914 Burr St, photo 8
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914 Burr St, photo 9
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914 Burr St, photo 10
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Photos, via Realtor.com.

Asking price
$399,900
3 units · $133K per unit
Monthly cash flow
−$160
at 20% down, 7%
Estimated rent
$4,075/mo
medium confidence · 9 rentals within 1.5 mi
Break-even price
$369,897
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a 1960 stucco triplex asking $399,900, which is about what the seller paid in 2022 ($395K). Our underwriting at 20% down and the asking price shows about -$160 a month and a 5.9% cap rate, and break-even is near $370K, so the price is roughly $30K too high. The listing gives no rents, no lease status and no utility details, so you can't judge income from it. The photos show cosmetically refreshed interiors, but the roof, boiler, panels and stucco are unknown. Ask for the rent roll and heat setup first. Show it only if the price comes down a lot.

Things to consider

  1. Price is above what the numbers support At ask, our underwriting shows negative cash flow of about $160 a month and a 5.9% cap. Break-even is about $370K.
  2. No income information Without rents and lease status you can't verify income. Rents on sitting tenants are capped at 3% a year in St. Paul, so a low rent today stays low.
  3. Special assessments are high $5,153 on the tax bill is a cost to you unless the seller pays it at closing. Taxes at the non-homestead rate are $7,333.
  4. Rental license still pending A pending license may hold up legal rent collection and signals possible code issues. Confirm all three units are approved, especially the lower unit.
  5. Unknown building systems on a 1960 stucco building Roof, heat, panels and stucco are the big-ticket items. Surprises there could wipe out any cash flow.From photo 9

From the photos

Listing photo 2
1 of 7Check

Lower-unit kitchen has white cabinets, a basic white gas range and fridge, and vinyl flooring. It appears to be a budget-level refresh, not a full remodel.

Listing photo 3
2 of 7Plus

Bathrooms have a basic vanity, a cultured-top sink and a tub/shower with a curtain. They look clean and are inexpensive to maintain.

Listing photo 4
3 of 7Check

Baseboard hot-water radiators are visible in the living room and bedroom. This suggests boiler heat, though county data lists central heat. Confirm the system and how many there are.

Listing photo 1
4 of 7Plus

Windows look like newer vinyl units in the living areas. Condition appears good.

Listing photo 9
5 of 7Concern

Stucco exterior with an older shingle roof and wall-mounted A/C units in the upper windows. Stucco and roof condition need an inspection.

Listing photo 10
6 of 7Plus

Large paved lot behind the building with room for several cars, a real plus for tenants.

Listing photo 8
7 of 7Check

No photos of the upper units, the basement or mechanicals, the electrical panel or the roof up close.

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

Condition and repairs

  • doneLower unit described as updated (3 bed / 2 bath); no specifics on what was done or whenListing says: The spacious lower-level unit features updated with three bedrooms and two bathrooms.

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

Down payment %
Offer $
Management
Interest rate %
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
$399,900
Cash to close
$91,977
Price per unit
$133,300
GRM
8.2

Each month

Cash flow
−$160/mo
Cash-on-cash
−2.1%
Cap rate
5.9%
DSCR
0.92×

Break-even

Price that breaks even
$369,897
Rent that breaks even
$4,280/mo

Long run

Year 30: property vs stocks
$1.48M vs $726K
Cash flow turns positive
year 4

Monthly

Monthly breakdown

Rent$4,075
Vacancy (6%)−$244
Collected$3,830
Property tax Public record−$611
Insurance Estimate−$284
Water, sewer, trash Estimate−$255
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$326
Capital reserve (8% of rent)−$326
Net operating income$1,969
Mortgage (principal + interest)−$2,128
Cash flow−$160
Principal paid down (equity, not cash)$271

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$1,476,794
Your equity when you sell
$912,422

Sells for $970,662 (value up 3% a year), minus 6% selling cost ($58,240). Rent paid down $319,920 of loan.

Rental profits, invested at 7%
$564,372

$302,799 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$726,195
Cash to close, invested at 7%
$700,152

$91,977 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$26,043

$3,824 you'd have paid in while the building lost money, invested instead.

The building comes out $750,599 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 $1.48M, stocks $726K. 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.

2 bed estimate $1,475/mo · range $1,100–$1,650 · 9 rentals within 0.75 mi

AddressRentBd / BaSq ftDistanceListedType
904-906 Burr St, Saint Paul $999 2 / 1 900 0.0 mi 2025-01-11 Apartment
953 Desoto St, Saint Paul $950 2 / 1 650 0.1 mi 2026-02-12 Apartment
1039-1041 Arkwright St, Saint Paul $1,445 2 / 1 1,100 0.3 mi 2026-09-19 Apartment
650 Aguirre St, Saint Paul $1,719 2 / 2 1,028 0.3 mi 2025-05-28 Apartment
685 Burr St, Saint Paul $1,450 2 / 1 750 0.5 mi 2026-04-08 Apartment
734 Sims Ave, Saint Paul $1,695 2 / 1 1,834 0.5 mi 2026-07-31 Duplex triplex
468 Beaumont St E Unit 4, Saint Paul $1,350 2 / 1 800 0.5 mi 2026-07-10 Apartment
665 Bedford St Unit 2, Saint Paul $1,400 2 / 1 800 0.5 mi 2023-12-20 Duplex triplex
1205 Westminster St, Saint Paul $1,120 2 / 1 710 0.7 mi 2025-01-03 Apartment

1 bed estimate $1,125/mo · range $975–$1,500 · 25 rentals within 1.5 mi

AddressRentBd / BaSq ftDistanceListedType
556 Jenks Ave E Unit 4, Saint Paul $1,000 1 / 1 — 0.2 mi 2026-08-19 Apartment
650 Aguirre St, Saint Paul $1,437 1 / 1 645 0.3 mi 2025-05-28 Apartment
658 Greenbrier St, Saint Paul $1,157 1 / 1 750 0.7 mi 2026-02-25 Apartment
1205 Westminster St, Saint Paul $965 1 / 1 600 0.7 mi 2025-01-03 Apartment
870 E Cook Ave Unit 3, Saint Paul $900 1 / 1 580 0.8 mi — Apartment
616 Ivy Ave E, Saint Paul $1,150 1 / 1 502 0.9 mi 2026-03-20 Apartment
1337 Arkwright St N Unit 303, Saint Paul $925 1 / 1 625 0.9 mi — Apartment
1337 Arkwright St N, Saint Paul $995 1 / 1 500 0.9 mi 2025-01-03 Apartment
1332 Mississippi St, Saint Paul $1,049 1 / 1 586 1.0 mi 2026-01-27 Apartment
321 Bates Ave, Saint Paul $925 1 / 1 560 1.0 mi 2026-05-13 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

  • highNo rents, lease terms or occupancy given, despite 'turnkey income potential' language Listing says: this property combines turnkey income potential and accessibility · AI review
  • medium$5,153 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 292922310046: special assessments (payable 2026) = $5,152.94
  • mediumRental license status is Pending, so confirm the three units are licensed and legal, especially the lower unit Based on: data: city.rental_license · AI review
  • mediumAsking price is close to the 2022 purchase price, well above the county market value of $307,500 Based on: data: county.market_value · AI review
  • lowStucco exterior and a low-slope roofline: check for moisture and roof leaks Based on: photo 9 · AI review

Opportunities

  • Long time on market: room to negotiate. Based on: Listing data: 33 days on market, 2 price cuts
  • Our rent estimates ($1,350 for the 3-bed lower unit's class, $1,050 for 1-beds) can be checked against actual rents once you see the rent roll. A large gap could mean upside Based on: data: rent_estimate · AI review
  • 30 days on market and a price above break-even give room to negotiate toward about $322K Based on: data: underwriting.break_even_price · AI review

Questions for the agent

  • Can I see the rent roll, leases and 12 months of expenses?
  • What is the $5,153 in special assessments for, and will the seller pay it at closing?
  • What was updated in the lower unit, when, and were permits pulled?
  • How is heat provided, and are there separate meters and furnaces for each unit?
  • What is the status of the pending rental license, and is the lower unit legal with egress?
  • How old are the roof, the electrical panels and the water heaters?

Bottom line

Cosmetically fresh triplex that loses about $160 a month at asking price, with no rent information given; worth a look only well below $400K. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)$7,333
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$3,404
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid$255
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. base rate8% / 8%

Price history Realtor.com

On the market since 2026-06-05 (122 days, relisted 1×); down $25,100 (5.9%) from the first ask of $425,000; last sold for $395,000 on 2022-05-09.

DateEventPrice
Listed$399,900
Removed$399,900
Price changed$399,900
Removed$434,999
Relisted$425,000
Removed—
Listed$425,000
Sold public record$395,000
Removed—
Listed$389,900
Sold$395,000
Listed$389,900
Removed$389,900
Price changed$389,900
Listed$399,900
Sold public record$39,162
Sold public record$57,000
Sold public record$47,439
Sold public record$57,000

County record Public record

Recorded asthree family dwelling, platted lot
Living units3
Year built1960
Market value (2026)$307,500
Property tax, payable 2026$7,333
Special assessments$5,153
Homesteadno
Last sale2022-05-05 · $395,000

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 3+ Units: 3 unit(s), B, status pending, renews 2028-03-21.

Nearest highway

I 35E;US 10, about 708 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.