353 Lawson Ave E

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

Cash flows

Asking price: $199,900
Monthly cash flow: $227
Estimated rent: $2,800/mo
Break-even price: $242,614

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

2 bed / 1 bath (est.)$1,400 $1,250–$1,550
2 bed / 1 bath (est.)$1,400 $1,250–$1,550

RentCast long-term rent estimate per unit, with our adjustments listed below. Confidence: medium. As of 2026-10-02. See the comparable rentals ↓

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

Price: $199,900
Monthly cash flow: $227
Cash to close: $45,977
Cap rate: 7.8%
Cash-on-cash: 5.9%
DSCR: 1.21×
GRM: 5.9
Price per unit: $99,950
Price that breaks even: $242,614
Rent that breaks even: $2,505/mo
Cash flow turns positive: year 1
Year 30: property vs stocks: $1.18M vs $350K

Monthly breakdown

Rent	$2,800
Vacancy (6%)	−$168
Collected	$2,632
Property tax Public record	−$433
Insurance Estimate	−$202
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$224
Capital reserve (9% of rent)	−$252
Net operating income	$1,291
Mortgage (principal + interest)	−$1,064
Cash flow	$227
Principal paid down (equity, not cash)	$135

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 $1.18M, stocks $350K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$485,210
Minus 6% selling cost	−$29,113
Minus loan still owedTenants' rent paid down all $179,910 of principal by year 30	$0
Plus rental profits, invested at 7%$259,130 of profit by year 30, before investment growth	$538,957
What you'd walk away with	$995,055
If you put the same money in stocks
Cash to close ($25,987) invested at 7%	$197,820
Monthly shortfalls ($217 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,545
What you'd walk away with	$199,364
Building minus stocks	$795,691

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$485,210
Minus 6% selling cost	−$29,113
Minus loan still owedTenants' rent paid down all $179,910 of principal by year 30	$0
Plus rental profits, invested at 7%$134,268 of profit by year 30, before investment growth	$237,591
What you'd walk away with	$693,688
If you put the same money in stocks
Cash to close ($25,987) invested at 7%	$197,820
Monthly shortfalls ($10,591 total by yr 30) investedThe money you'd have put into the building while it lost money	$68,644
What you'd walk away with	$266,464
Building minus stocks	$427,224

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$460,937
Minus 6% selling cost	−$27,656
Minus loan still owedTenants' rent paid down all $170,910 of principal by year 30	$0
Plus rental profits, invested at 7%$280,739 of profit by year 30, before investment growth	$607,026
What you'd walk away with	$1,040,307
If you put the same money in stocks
Cash to close ($24,687) invested at 7%	$187,924
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$187,924
Building minus stocks	$852,383

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$460,937
Minus 6% selling cost	−$27,656
Minus loan still owedTenants' rent paid down all $170,910 of principal by year 30	$0
Plus rental profits, invested at 7%$152,599 of profit by year 30, before investment growth	$285,033
What you'd walk away with	$718,314
If you put the same money in stocks
Cash to close ($24,687) invested at 7%	$187,924
Monthly shortfalls ($7,096 total by yr 30) investedThe money you'd have put into the building while it lost money	$46,473
What you'd walk away with	$234,397
Building minus stocks	$483,917

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$485,210
Minus 6% selling cost	−$29,113
Minus loan still owedTenants' rent paid down all $159,920 of principal by year 30	$0
Plus rental profits, invested at 7%$312,188 of profit by year 30, before investment growth	$722,957
What you'd walk away with	$1,179,054
If you put the same money in stocks
Cash to close ($45,977) invested at 7%	$349,989
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$349,989
Building minus stocks	$829,065

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$485,210
Minus 6% selling cost	−$29,113
Minus loan still owedTenants' rent paid down all $159,920 of principal by year 30	$0
Plus rental profits, invested at 7%$177,067 of profit by year 30, before investment growth	$355,305
What you'd walk away with	$811,402
If you put the same money in stocks
Cash to close ($45,977) invested at 7%	$349,989
Monthly shortfalls ($114 total by yr 30) investedThe money you'd have put into the building while it lost money	$814
What you'd walk away with	$350,803
Building minus stocks	$460,599

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$460,937
Minus 6% selling cost	−$27,656
Minus loan still owedTenants' rent paid down all $151,920 of principal by year 30	$0
Plus rental profits, invested at 7%$331,349 of profit by year 30, before investment growth	$783,288
What you'd walk away with	$1,216,569
If you put the same money in stocks
Cash to close ($43,677) invested at 7%	$332,480
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$332,480
Building minus stocks	$884,089

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$460,937
Minus 6% selling cost	−$27,656
Minus loan still owedTenants' rent paid down all $151,920 of principal by year 30	$0
Plus rental profits, invested at 7%$196,113 of profit by year 30, before investment growth	$414,822
What you'd walk away with	$848,103
If you put the same money in stocks
Cash to close ($43,677) invested at 7%	$332,480
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$332,480
Building minus stocks	$515,623

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$485,210
Minus 6% selling cost	−$29,113
Minus loan still owedTenants' rent paid down all $149,925 of principal by year 30	$0
Plus rental profits, invested at 7%$336,127 of profit by year 30, before investment growth	$798,333
What you'd walk away with	$1,254,430
If you put the same money in stocks
Cash to close ($55,972) invested at 7%	$426,073
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$426,073
Building minus stocks	$828,357

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$485,210
Minus 6% selling cost	−$29,113
Minus loan still owedTenants' rent paid down all $149,925 of principal by year 30	$0
Plus rental profits, invested at 7%$200,891 of profit by year 30, before investment growth	$429,867
What you'd walk away with	$885,964
If you put the same money in stocks
Cash to close ($55,972) invested at 7%	$426,073
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$426,073
Building minus stocks	$459,891

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$460,937
Minus 6% selling cost	−$27,656
Minus loan still owedTenants' rent paid down all $142,425 of principal by year 30	$0
Plus rental profits, invested at 7%$354,090 of profit by year 30, before investment growth	$854,894
What you'd walk away with	$1,288,174
If you put the same money in stocks
Cash to close ($53,172) invested at 7%	$404,759
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$404,759
Building minus stocks	$883,415

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$460,937
Minus 6% selling cost	−$27,656
Minus loan still owedTenants' rent paid down all $142,425 of principal by year 30	$0
Plus rental profits, invested at 7%$218,854 of profit by year 30, before investment growth	$486,427
What you'd walk away with	$919,708
If you put the same money in stocks
Cash to close ($53,172) invested at 7%	$404,759
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$404,759
Building minus stocks	$514,949

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.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-02. The estimate above is RentCast's, weighted toward the closest matches.

2 bed / 1 bath estimate $1,400/mo · range $1,250–$1,550

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
1337 Arkwright St N, Unit 106, Saint Paul 55130 off market	$1,150	2 / 1	—	0.7 mi	2026-03-13	93%
754 Payne Ave Apt D, Saint Paul 55130	$1,361	2 / 1	—	0.8 mi	2026-09-27	93%
701 Hawthorne Ave E, Saint Paul 55106 off market	$1,390	2 / 1	—	0.8 mi	2026-03-13	93%
Case Ave E, Unit 1, Saint Paul 55130 off market	$1,500	2 / 1	1,150	0.3 mi	2026-04-20	93%
870 E Cook Ave, Unit 4, Saint Paul 55106 off market	$1,050	2 / 1	—	1.0 mi	2026-05-20	92%
1039-1041 Arkwright St, Saint Paul 55130	$1,445	2 / 1	1,100	0.1 mi	2026-09-19	92%
421 Mount Ida St, Saint Paul 55130 off market	$1,549	2 / 1	1,100	0.7 mi	2026-06-22	91%
709-711 Jessamine Ave E, Saint Paul 55106 off market	$1,250	2 / 1	1,100	0.8 mi	2026-09-11	91%
1035 Arkwright St, Saint Paul 55130 off market	$1,395	2 / 1	950	0.1 mi	2025-09-18	90%
666 Sims Ave, Saint Paul 55106 off market	$1,160	2 / 1	1,000	0.7 mi	2025-11-20	90%

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

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 292922230068: special assessments (payable 2026) = $572.02

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)	$5,194
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,422
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 1894: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1894
Market value (2026)	$237,100
Property tax, payable 2026	$5,194
Special assessments	$572
Homestead	no
Last sale	2017-01-20 · $138,500

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), A, status renewal due, renews 2024-02-01.

Nearest highway

I 35E;US 10, about 248 m away.

Crime in Payne – Phalen

1,694 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.

Status history

2026-07-09New at $199,900