Hamline – Midway

Neighborhood profile

Listings we track

10

Median price per unit

$184K

Typical cash flow

−$836

median per month, 20% down

Crime, last 12 months

101 per 1,000

1,219 incidents · −3% vs. prior year

Renter households

44%

Median gross rent

$1,164

all unit sizes

Median household income

$82K

Rent rules

3% cap

Rent stabilization; buildings first occupied after 2004 exempt

St. Paul police incidents, excluding proactive visits and community events. Per-resident rates use 2020 Census population. Census figures: ACS 2020–2024 5-year, combining 4 tract(s) centered in this planning district; medians are household-weighted averages of tract medians.

Map

Top picks

Ranked on real rent estimates (nearby comparable rentals or our own research). Listings with a serious red flag are under Proceed with caution instead, however good the numbers look.

Duplex

−$382/mo cash flow

Close · cap 5.4% · 20% down

$449,900

2 units7 bd3 ba3,532 sqft

1636-1638 Minnehaha Ave W, Saint Paul

Hamline – Midway

Rents: 7 rentals within 1.5 mi

Duplex Price cut: $5,500

−$847/mo cash flow

Overpriced · cap 4.5% · 20% down

$549,500

2 units8 bd4 ba3,392 sqft

1607 Van Buren Ave, Saint Paul

Hamline – Midway

Rents: 6 rentals within 1.5 mi

Duplex

−$878/mo cash flow

Overpriced · cap 4.3% · 20% down

$495,000

2 units6 bd2 ba2,550 sqft

1759 Van Buren Ave, Saint Paul

Hamline – Midway

Rents: 7 rentals within 1.5 mi

Duplex

−$843/mo cash flow

Far off · cap 3.2% · 20% down

$320,000

2 units2 bd2 ba1,622 sqft

1210 Sherburne Ave, Saint Paul

Hamline – Midway

Rents: 9 rentals within 0.75 mi

Ways to slice it

All listings

10 listings. Filter by price or units, or switch the down payment.

1. 1636-1638 Minnehaha Ave W

   $449,900 · 2 units
   Close
   Cash flow −$382/mo Cap 5.4% Break-even price $378K Yr 30 vs stocks 1.62× Positive in yr 8

   The seller financing is the draw, but at $449,900 it loses money on our numbers, so you'd need a lower price and verified rents and expenses.

2. 595 Syndicate St N

   $355,000 · 2 units
   Overpriced
   Cash flow −$434/mo Cap 4.9% Break-even price $273K Yr 30 vs stocks 1.27× Positive in yr 12

   Tidy, well-laid-out duplex with separate utilities, but $355K is too high for these rents, so negotiate hard or pass.

   At asking price the deal loses money each month and the cap rate is low.

3. 1607 Van Buren Ave

   $549,500 · 2 units
   Overpriced
   Cash flow −$847/mo Cap 4.5% Break-even price $390K Yr 30 vs stocks 1.06× Positive in yr 15

   Works only as an owner-occupied house hack if you can assume the 3.99% loan; as a plain investment it loses money at this price.

4. 1437 Minnehaha Ave W

   $409,900 · 2 units
   Overpriced
   Cash flow −$654/mo Cap 4.5% Break-even price $287K Yr 30 vs stocks 1.03× Positive in yr 15

   The $4,300 income claim is unproven, the unit count doesn't match county records, and at $409,900 the numbers lose money each month.

   County records show 2 living units, but the listing sells it as a triplex. The third unit may not be legal or properly permitted.

5. 1259 Charles Ave

   $381,425 · 2 units
   Close
   Cash flow −$374/mo Cap 5.2% Break-even price $311K Yr 30 vs stocks 1.49× Positive in yr 9

   Big, usable duplex, but at $381K it loses money every month; it only works near $315K or below.

   No rents, lease terms or expense figures given. The listing leans on a projected utility program.

6. 1759 Van Buren Ave

   $495,000 · 2 units
   Overpriced
   Cash flow −$878/mo Cap 4.3% Break-even price $330K Yr 30 vs stocks 0.93× Positive in yr 17

   Nicely updated and well located, but $495K is about $165K over what the rents support, so only pursue it at a much lower price or as an owner-occupant.

7. 1210 Sherburne Ave

   $320,000 · 2 units
   Far off
   Cash flow −$843/mo Cap 3.2% Break-even price $162K Yr 30 vs stocks 0.59× Positive in yr 30

   Nice, updated duplex, but at $320K the rent doesn't carry it; only an owner-occupant case or a much lower price makes sense.

8. 1626 Englewood Ave

   $525,000 · 4 units
   Overpriced
   Cash flow −$1,092/mo Cap 3.9% Break-even price $320K Yr 30 vs stocks 0.76× Positive in yr 22

   Nicely renovated on the surface, but at $525K it loses over $1,000 a month on our numbers and the listing gives no rents to prove otherwise.

   No rents, rent roll or expenses given for an 'income' pitch; nothing shows the building is occupied or what it earns

9. 1875 Minnehaha Ave W

   $649,900 · 4 units
   Overpriced
   Cash flow −$1,212/mo Cap 4.1% Break-even price $422K Yr 30 vs stocks 0.86× Positive in yr 19

   A tidy-looking 4-plex of 2-beds, but at $649,900 it loses over $1,200 a month on our numbers, so it only works at a much lower price.

   No rents, leases or expenses given, so income can't be verified.

10. 1673 Van Buren Ave

    $325,000 · 2 units
    Far off
    Cash flow −$830/mo Cap 3.3% Break-even price $169K Yr 30 vs stocks 0.61× Positive in yr 29

    Pleasant, rentable-looking up/down, but at $325K the rents can't support it and you'd need a price near half that to break even.

    Asking price is roughly double the break-even price; cash flow is deeply negative

Monthly cash flow

What's changing

• United Village at the old Midway Center. Bill McGuire put $170M toward phase one next to Allianz Field: two restaurants (targeted to open mid-2026), an office building and a 158-room hotel set for early 2027. More foot traffic and amenities near Snelling & University, but also more event-day traffic. As of 2026-05 · Sources: mspmag.com, stpaul.gov
• Big-box closures on University Ave east of Snelling. Midway Marketplace has lost Walmart (2019), T.J. Maxx and, in August 2025, Cub Foods. Empty big boxes are a drag on nearby retail today and a redevelopment wildcard later. As of 2025-08 · Sources: startribune.com, mprnews.org
• Rethinking I-94. MnDOT is carrying four alternatives (no build, maintenance, reduced freeway, reconfigured freeway) into a Tier 1 environmental study expected to take two to three years. The ReConnect Rondo land bridge is a separate effort; we found planning money for it but no construction funding (estimated at $450M+ in 2021). Treat it as a long shot, not a value driver. As of 2026-10 · Sources: talk.dot.state.mn.us, reconnectrondo.com