Payne – Phalen

Neighborhood profile

Listings we track

29

Median price per unit

$128K

Typical cash flow

−$80

median per month, 20% down

Crime, last 12 months

51 per 1,000

1,695 incidents · −10% vs. prior year

Renter households

41%

Median gross rent

$1,262

all unit sizes

Median household income

$67K

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 8 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

+$115/mo cash flow

Cash flows · cap 6.9% · 20% down

$260,000

2 units5 bd2 ba1,915 sqft

852 Jessamine Ave E, Saint Paul

Payne – Phalen

Rents: 11 rentals within 1.5 mi

Duplex

−$11/mo cash flow

Close · cap 6.3% · 20% down

$224,900

2 units4 bd2 ba1,892 sqft

365 Case Ave, Saint Paul

Payne – Phalen

Rents: 8 rentals within 0.75 mi

Duplex

+$272/mo cash flow

Cash flows · cap 7.6% · 20% down

$275,000

2 units6 bd3 ba2,344 sqft

591 Payne Ave, Saint Paul

Payne – Phalen

Rents: 15 rentals within 1.5 mi

Duplex

−$80/mo cash flow

Close · cap 6.0% · 20% down

$224,900

2 units2 bd2 ba1,490 sqft

1136 Edgerton St, Saint Paul

Payne – Phalen

Rents: 7 rentals within 0.75 mi

Duplex Price cut: $10,000

+$491/mo cash flow

Cash flows · cap 10.1% · 20% down

$159,900

2 units4 bd2 ba1,655 sqft

688 Magnolia Ave E, Saint Paul

Payne – Phalen

Rents: RentCast comps

Duplex New listing

−$700/mo cash flow

Overpriced · cap 3.9% · 20% down

$340,000

2 units4 bd2 ba1,950 sqft

936 Westminster St, Saint Paul

Payne – Phalen

Rents: 8 rentals within 0.75 mi

Ways to slice it

All listings

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

1. 852 Jessamine Ave E

   $260,000 · 2 units
   Cash flows
   Cash flow $115/mo Cap 6.9% Break-even price $282K Yr 30 vs stocks 2.81× Positive in yr 1

   Marginal at $260K: the numbers only work at our estimated rents, so verify the rents, the systems and the vacancy situation before offering.

2. 365 Case Ave

   $224,900 · 2 units
   Close
   Cash flow −$11/mo Cap 6.3% Break-even price $223K Yr 30 vs stocks 2.35× Positive in yr 2

   A roughly break-even duplex at ask with no rent information; worth pursuing only after seeing the rent roll.

3. 591 Payne Ave

   $275,000 · 2 units
   Cash flows
   Cash flow $272/mo Cap 7.6% Break-even price $326K Yr 30 vs stocks 3.29× Positive in yr 1

   A workable side-by-side with modest positive cash flow at the ask, so the occupied rent decides whether it's worth it.

4. 701 Desoto St

   $249,000 · 2 units
   Cash flows
   Cash flow $445/mo Cap 8.5% Break-even price $333K Yr 30 vs stocks 4.00× Positive in yr 1

   The numbers look decent on paper, but with no verified rents, a murky sale history and unseen systems, treat it as a maybe until the rent roll and license check out.

   No rent, lease dates or deposit details for the occupied side. Our income figures rest on estimates only.

5. 596 Case Ave

   $170,000 · 2 units
   Cash flows
   Cash flow $514/mo Cap 10.0% Break-even price $267K Yr 30 vs stocks 5.02× Positive in yr 1

   Numbers look decent on estimated rents, but with no rent roll, no system details and a pending license, this is a showing-plus-verification candidate, not a sure thing.

   No rents, lease terms or occupancy given. Our cash flow rests on estimated rents, not actual ones.

6. 1136 Edgerton St

   $224,900 · 2 units
   Close
   Cash flow −$80/mo Cap 6.0% Break-even price $210K Yr 30 vs stocks 2.12× Positive in yr 4

   Half-renovated up/down that loses money at the ask; it only works at a price near $210K or below, with the upper unit's condition priced in.

7. 661 Payne Ave

   $475,000 · 4 units
   Cash flows
   Cash flow $1,065/mo Cap 9.1% Break-even price $675K Yr 30 vs stocks 4.47× Positive in yr 1

   Fresh renovation on a double lot, and at $475K the numbers make money on estimated rents, but the rents, restrictions and license status are all unproven.

   Described as mixed-use with a commercial garage, but the city rental license lists 4 residential units and is still pending. Confirm zoning, the license and the legal unit count.

8. 688 Magnolia Ave E

   $159,900 · 2 units
   Cash flows
   Cash flow $491/mo Cap 10.1% Break-even price $252K Yr 30 vs stocks 5.09× Positive in yr 1

   Cheap entry and decent paper numbers, but the seller's quick markup and the unrenovated condition mean you should price in a full rehab and licensing risk.

9. 893 Jenks Ave

   $374,000 · 4 units
   Cash flows
   Cash flow $82/mo Cap 6.6% Break-even price $389K Yr 30 vs stocks 2.62× Positive in yr 1

   A tidy-looking fourplex with low owner utilities, but it only barely cash flows at asking and nothing in the listing proves the rents.

   No rents, lease terms or rent roll given despite 'fully rented' and 'steady cash flow' claims

10. 1113 Edgerton St

    $535,000 · 3 units
    Cash flows
    Cash flow $437/mo Cap 7.4% Break-even price $617K Yr 30 vs stocks 3.24× Positive in yr 1

    Updated and house-hack friendly, but the 3-vs-4 unit conflict and a 34% jump over last year's price need real answers before this pencils.

    Unit count conflict: listing says four units, county says three

11. 895 Rose Ave E

    $244,999 · 2 units
    Cash flows
    Cash flow $240/mo Cap 7.6% Break-even price $290K Yr 30 vs stocks 3.27× Positive in yr 1

    A two-family priced with a third unit in the pitch; verify the basement is legal and rentable before paying for it.

    Third unit is likely not legal. County and city data show a two-family, not three units.

12. 914 Burr St

    $399,900 · 3 units
    Close
    Cash flow −$160/mo Cap 5.9% Break-even price $370K Yr 30 vs stocks 2.03× Positive in yr 4

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

    No rents, lease terms or occupancy given, despite 'turnkey income potential' language

13. 707 Preble St

    $239,900 · 2 units
    Cash flows
    Cash flow $386/mo Cap 8.3% Break-even price $312K Yr 30 vs stocks 3.78× Positive in yr 1

    Pretty finishes on a building with a frozen boiler and a bad roof: the price only works if you can bid both repairs and get a discount larger than that.

    Frozen boiler system with unknown extent of damage; the 'newer boiler' may be compromised, and radiators and pipes could be too

14. 861 Cook Ave E

    $240,000 · 2 units
    Close
    Cash flow −$189/mo Cap 5.4% Break-even price $204K Yr 30 vs stocks 1.62× Positive in yr 8

    A thin listing on an old up/down that loses money at $240K, so only worth a look at a lower price or as an owner-occupant.

    Listing gives no rents, lease status or tenant info, so income is unverified.

15. 794 Case Ave

    $355,000 · 3 units
    Close
    Cash flow −$193/mo Cap 5.7% Break-even price $319K Yr 30 vs stocks 1.87× Positive in yr 6

    Weak at the asking price: negative cash flow, unknown rents and a licensing question, so only worth pursuing at a lower price.

    Rental license is Pending at grade C and the listed expiry date has passed. Confirm the building is licensed for three units.

16. 733 Bradley St

    $579,000 · 4 units
    Cash flows
    Cash flow $94/mo Cap 6.6% Break-even price $597K Yr 30 vs stocks 2.57× Positive in yr 1

    A 4-plex that barely breaks even at the asking price with no rents disclosed, so it only works if the rents are proven and the building's condition holds up.

    Description says 'rented in 3 units' but the building is a 4-plex. One unit may be vacant, or the unit count is unclear.

17. 429 Mount Ida St

    $510,000 · 4 units
    Cash flows
    Cash flow $242/mo Cap 7.0% Break-even price $556K Yr 30 vs stocks 2.86× Positive in yr 1

    A tidy-looking four-plex with a new roof, and $510K is full price for a building the seller bought at $505K in 2023, but cash flow is positive at ask.

    Rental license shows as pending and the listed expiry date has passed. Confirm the building is legally licensed as four units.

18. 1064 Lawson Ave E

    $200,000 · 2 units
    Close
    Cash flow −$137/mo Cap 5.6% Break-even price $174K Yr 30 vs stocks 1.71× Positive in yr 7

    Newer shell and separate utilities are appealing, but open walls and negative cash flow at $200K mean you should price in a real rehab before offering.

    Interior looks well beyond cosmetic: exposed studs, torn plaster and open wall cavities

19. 716 Rose Ave E

    $179,900 · 2 units
    Cash flows
    Cash flow $493/mo Cap 9.7% Break-even price $272K Yr 30 vs stocks 4.75× Positive in yr 1

    A cash-only fire-damaged rehab on the Vacant Building list: the 9.7% cap rate means nothing until you've priced the full rehab and the city's compliance deadline.

    On the city's Vacant Building registry (Category 2). In St. Paul, Categories 2 and 3 can't be sold or occupied without city approval and a code-compliance plan.

20. 807 Case Ave

    $260,000 · 2 units
    Overpriced
    Cash flow −$282/mo Cap 5.1% Break-even price $207K Yr 30 vs stocks 1.37× Positive in yr 10

    Thin listing at a price that loses money at ask, so only worth a look if the rent roll is strong and the price comes down toward $207K.

    Priced well above the 2022 purchase, and at ask the numbers are negative.

21. 790 Geranium Ave E

    $285,000 · 2 units
    Overpriced
    Cash flow −$439/mo Cap 4.5% Break-even price $203K Yr 30 vs stocks 1.04× Positive in yr 15

    Newer roof and furnace help, but at $285K the rents don't cover the costs; this only works closer to $203K.

    Price is far above what the rents support; negative cash flow at ask

22. 936 Westminster St

    $340,000 · 2 units
    Overpriced
    Cash flow −$700/mo Cap 3.9% Break-even price $208K Yr 30 vs stocks 0.78× Positive in yr 21

23. 620 Cook Ave E

    $210,000 · 2 units
    Overpriced
    Cash flow −$271/mo Cap 4.8% Break-even price $159K Yr 30 vs stocks 1.19× Positive in yr 13

    Basic 1-bed/1-bed up/down that loses money at $210K; it works only at a much lower price or as a house hack.

    No rents, lease status or occupancy given. Income is unverified and the unit may be vacant or owner-occupied.

24. 380 Larpenteur Ave E

    $315,000 · 2 units
    Far off
    Cash flow −$711/mo Cap 3.7% Break-even price $181K Yr 30 vs stocks 0.70× Positive in yr 24

    A tidy-sounding duplex, but at $315K it loses about $700 a month in our model and only works near $180K.

25. 439 Arlington Ave E

    $424,999 · 2 units
    Far off
    Cash flow −$907/mo Cap 3.8% Break-even price $255K Yr 30 vs stocks 0.75× Positive in yr 22

    Clean, updated side-by-side duplex, but at about $425K it loses roughly $900 a month in our model and needs a big price cut.

    Seller bought for $420K in 2023 and asks about the same now, well above what rents support.

26. 393 Geranium Ave E

    $329,900 · 2 units
    Overpriced
    Cash flow −$618/mo Cap 4.1% Break-even price $214K Yr 30 vs stocks 0.85× Positive in yr 19

    Cosmetically refreshed duplex priced about $116K above where the numbers work, with licensing and short-term-rental questions to answer first.

    Past short-term rental use may not be allowed or licensed for this building, and the listing puts the burden on the buyer.

27. 1070 Bradley St

    $499,000 · 3 units
    Far off
    Cash flow −$1,329/mo Cap 3.2% Break-even price $249K Yr 30 vs stocks 0.59× Positive in 30+ yrs

    Nice, refreshed triplex, but at $499K it loses over $1,300 a month, and it only works near half the asking price.

28. 886 Payne Ave

    $419,900 · 3 units
    Far off
    Cash flow −$1,122/mo Cap 3.2% Break-even price $209K Yr 30 vs stocks 0.57× Positive in 30+ yrs

    A retiring owner's mixed-use building that loses about $1,100 a month at asking, so it only works at a much lower price or with strong bakery rent we can't see yet.

    No rent roll or income figures. The bakery's rent and lease are unknown, and our model has no commercial income to work with.

29. 1598 E Shore Dr

    $600,000 · 2 units
    Far off
    Cash flow −$1,838/mo Cap 2.7% Break-even price $255K Yr 30 vs stocks 0.51× Positive in 30+ yrs

    Pretty lakeside duplex, but at $600K it loses nearly $1,840 a month on our numbers; it only works well below roughly $255K.

    No rents or lease terms given, only that leases exist. Rent roll needed to confirm income.

Monthly cash flow, top 20

What's changing

Nothing curated for this planning district yet.