1437 Minnehaha Ave W

Saint Paul, MN · Hamline – Midway · Listing office ↗ · Find the listing ↗

Far off

Asking price: $409,900
Monthly cash flow: −$885
Estimated rent: $3,000/mo
Break-even price: $243,534

Adjust these numbers in the calculator See the full breakdown

The numbers

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

Estimated rent per unit Estimate

3 bed / 1.5 bath (est.)$1,650 $1,400–$1,900
2 bed / 1.5 bath (est.)$1,350 $1,150–$1,550

Rough screening estimate from bedroom count only ($750 + $300 per bedroom, ±15%). Not comparable-rental data; a RentCast estimate replaces it for the top candidates. Confidence: low.

Rent rules: Capped at 3%/yr for sitting tenants.

Price: $409,900
Monthly cash flow: −$885
Cash to close: $94,277
Cap rate: 3.8%
Cash-on-cash: −11.3%
DSCR: 0.59×
GRM: 11.4
Price per unit: $204,950
Price that breaks even: $243,534
Rent that breaks even: $4,150/mo
Cash flow turns positive: year 22
Year 30: property vs stocks: $969K vs $1.30M

Monthly breakdown

Rent	$3,000
Vacancy (6%)	−$180
Collected	$2,820
Property tax Public record	−$560
Insurance Estimate	−$224
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$240
Capital reserve (9% of rent)	−$270
Net operating income	$1,296
Mortgage (principal + interest)	−$2,182
Cash flow	−$885
Principal paid down (equity, not cash)	$278

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: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $969K, stocks $1.30M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $368,910 of principal by year 30	$0
Plus rental profits, invested at 7%$6,867 of profit by year 30, before investment growth	$7,334
What you'd walk away with	$942,573
If you put the same money in stocks
Cash to close ($53,287) invested at 7%	$405,634
Monthly shortfalls ($210,742 total by yr 30) investedThe money you'd have put into the building while it lost money	$937,910
What you'd walk away with	$1,343,544
Building minus stocks	−$400,971

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $368,910 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$935,239
If you put the same money in stocks
Cash to close ($53,287) invested at 7%	$405,634
Monthly shortfalls ($348,771 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,325,361
What you'd walk away with	$1,730,995
Building minus stocks	−$795,756

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $359,910 of principal by year 30	$0
Plus rental profits, invested at 7%$10,297 of profit by year 30, before investment growth	$11,252
What you'd walk away with	$923,675
If you put the same money in stocks
Cash to close ($51,987) invested at 7%	$395,738
Monthly shortfalls ($192,346 total by yr 30) investedThe money you'd have put into the building while it lost money	$872,215
What you'd walk away with	$1,267,953
Building minus stocks	−$344,278

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $359,910 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$912,423
If you put the same money in stocks
Cash to close ($51,987) invested at 7%	$395,738
Monthly shortfalls ($326,945 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,255,748
What you'd walk away with	$1,651,486
Building minus stocks	−$739,063

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $327,920 of principal by year 30	$0
Plus rental profits, invested at 7%$28,482 of profit by year 30, before investment growth	$34,010
What you'd walk away with	$969,249
If you put the same money in stocks
Cash to close ($94,277) invested at 7%	$717,661
Monthly shortfalls ($123,115 total by yr 30) investedThe money you'd have put into the building while it lost money	$584,123
What you'd walk away with	$1,301,784
Building minus stocks	−$332,535

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $327,920 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$935,239
If you put the same money in stocks
Cash to close ($94,277) invested at 7%	$717,661
Monthly shortfalls ($239,529 total by yr 30) investedThe money you'd have put into the building while it lost money	$944,898
What you'd walk away with	$1,662,559
Building minus stocks	−$727,320

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $319,920 of principal by year 30	$0
Plus rental profits, invested at 7%$34,548 of profit by year 30, before investment growth	$42,243
What you'd walk away with	$954,666
If you put the same money in stocks
Cash to close ($91,977) invested at 7%	$700,152
Monthly shortfalls ($110,020 total by yr 30) investedThe money you'd have put into the building while it lost money	$532,025
What you'd walk away with	$1,232,178
Building minus stocks	−$277,512

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $319,920 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$912,423
If you put the same money in stocks
Cash to close ($91,977) invested at 7%	$700,152
Monthly shortfalls ($220,368 total by yr 30) investedThe money you'd have put into the building while it lost money	$884,567
What you'd walk away with	$1,584,720
Building minus stocks	−$672,297

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $307,425 of principal by year 30	$0
Plus rental profits, invested at 7%$45,248 of profit by year 30, before investment growth	$57,459
What you'd walk away with	$992,698
If you put the same money in stocks
Cash to close ($114,772) invested at 7%	$873,674
Monthly shortfalls ($90,794 total by yr 30) investedThe money you'd have put into the building while it lost money	$453,011
What you'd walk away with	$1,326,685
Building minus stocks	−$333,987

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$994,935
Minus 6% selling cost	−$59,696
Minus loan still owedTenants' rent paid down all $307,425 of principal by year 30	$0
Plus rental profits, invested at 7%$645 of profit by year 30, before investment growth	$647
What you'd walk away with	$935,886
If you put the same money in stocks
Cash to close ($114,772) invested at 7%	$873,674
Monthly shortfalls ($191,086 total by yr 30) investedThe money you'd have put into the building while it lost money	$790,984
What you'd walk away with	$1,664,658
Building minus stocks	−$728,772

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $299,925 of principal by year 30	$0
Plus rental profits, invested at 7%$52,472 of profit by year 30, before investment growth	$68,257
What you'd walk away with	$980,680
If you put the same money in stocks
Cash to close ($111,972) invested at 7%	$852,359
Monthly shortfalls ($80,055 total by yr 30) investedThe money you'd have put into the building while it lost money	$407,249
What you'd walk away with	$1,259,608
Building minus stocks	−$278,928

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$970,662
Minus 6% selling cost	−$58,240
Minus loan still owedTenants' rent paid down all $299,925 of principal by year 30	$0
Plus rental profits, invested at 7%$1,908 of profit by year 30, before investment growth	$1,962
What you'd walk away with	$914,384
If you put the same money in stocks
Cash to close ($111,972) invested at 7%	$852,359
Monthly shortfalls ($174,386 total by yr 30) investedThe money you'd have put into the building while it lost money	$735,739
What you'd walk away with	$1,588,098
Building minus stocks	−$673,714

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.

Red flags and opportunities

Watch for

mediumAsking is $166,366 above the price where cash flow breaks even ($243,534) at the default scenario. Based on: Derived: price $409,900 vs. break-even $243,534
low$432 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 272923340132: special assessments (payable 2026) = $432.50

Opportunities

None found.

Questions for the agent

Can we see the current leases and a rent roll, with move-in dates?
What did water/sewer/trash, heat and electric cost the owner over the last 12 months?
How old are the roof, boiler or furnaces, water heaters and electrical panels?
Is the building licensed as a rental for this many units, and when was the last city inspection?
Any special assessments pending, and will the seller pay them off at closing?

Standard questions worth asking about any building.

What the records say

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead)	$6,720
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,686
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 1919: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1919
Market value (2026)	$315,900
Property tax, payable 2026	$6,720
Special assessments	$432
Homestead	no
Last sale	2003-01-31 · $243,600

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 3+ Units: 3 unit(s), A, status pending, renews 2026-06-03.

Nearest highway

I 94, about 1266 m away.

Crime in Hamline – Midway

1,218 incidents in the last 12 months (101 per 1,000 residents), −3% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.

Status history

2026-08-19New at $409,900