380 Larpenteur Ave E

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

Overpriced

Asking price: $315,000
Monthly cash flow: −$516
Estimated rent: $2,700/mo
Break-even price: $218,009

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.)$1,350 $1,150–$1,550
2 bed / 1 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: $315,000
Monthly cash flow: −$516
Cash to close: $72,450
Cap rate: 4.4%
Cash-on-cash: −8.6%
DSCR: 0.69×
GRM: 9.7
Price per unit: $157,500
Price that breaks even: $218,009
Rent that breaks even: $3,362/mo
Cash flow turns positive: year 16
Year 30: property vs stocks: $807K vs $822K

Monthly breakdown

Rent	$2,700
Vacancy (6%)	−$162
Collected	$2,538
Property tax Public record	−$531
Insurance Estimate	−$185
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$216
Capital reserve (8% of rent)	−$216
Net operating income	$1,160
Mortgage (principal + interest)	−$1,677
Cash flow	−$516
Principal paid down (equity, not cash)	$213

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 $807K, stocks $822K. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$764,588
Minus 6% selling cost	−$45,875
Minus loan still owedTenants' rent paid down all $283,500 of principal by year 30	$0
Plus rental profits, invested at 7%$32,026 of profit by year 30, before investment growth	$39,401
What you'd walk away with	$758,113
If you put the same money in stocks
Cash to close ($40,950) invested at 7%	$311,722
Monthly shortfalls ($103,026 total by yr 30) investedThe money you'd have put into the building while it lost money	$514,399
What you'd walk away with	$826,120
Building minus stocks	−$68,007

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$764,588
Minus 6% selling cost	−$45,875
Minus loan still owedTenants' rent paid down all $283,500 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	$718,712
If you put the same money in stocks
Cash to close ($40,950) invested at 7%	$311,722
Monthly shortfalls ($201,406 total by yr 30) investedThe money you'd have put into the building while it lost money	$830,304
What you'd walk away with	$1,142,026
Building minus stocks	−$423,314

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $274,500 of principal by year 30	$0
Plus rental profits, invested at 7%$39,824 of profit by year 30, before investment growth	$50,539
What you'd walk away with	$746,435
If you put the same money in stocks
Cash to close ($39,650) invested at 7%	$301,826
Monthly shortfalls ($88,999 total by yr 30) investedThe money you'd have put into the building while it lost money	$455,923
What you'd walk away with	$757,749
Building minus stocks	−$11,314

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $274,500 of principal by year 30	$0
Plus rental profits, invested at 7%$406 of profit by year 30, before investment growth	$406
What you'd walk away with	$696,302
If you put the same money in stocks
Cash to close ($39,650) invested at 7%	$301,826
Monthly shortfalls ($179,987 total by yr 30) investedThe money you'd have put into the building while it lost money	$761,098
What you'd walk away with	$1,062,923
Building minus stocks	−$366,621

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$764,588
Minus 6% selling cost	−$45,875
Minus loan still owedTenants' rent paid down all $252,000 of principal by year 30	$0
Plus rental profits, invested at 7%$63,667 of profit by year 30, before investment growth	$88,021
What you'd walk away with	$806,733
If you put the same money in stocks
Cash to close ($72,450) invested at 7%	$551,508
Monthly shortfalls ($50,716 total by yr 30) investedThe money you'd have put into the building while it lost money	$270,640
What you'd walk away with	$822,148
Building minus stocks	−$15,415

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$764,588
Minus 6% selling cost	−$45,875
Minus loan still owedTenants' rent paid down all $252,000 of principal by year 30	$0
Plus rental profits, invested at 7%$6,053 of profit by year 30, before investment growth	$6,580
What you'd walk away with	$725,293
If you put the same money in stocks
Cash to close ($72,450) invested at 7%	$551,508
Monthly shortfalls ($123,509 total by yr 30) investedThe money you'd have put into the building while it lost money	$544,507
What you'd walk away with	$1,096,015
Building minus stocks	−$370,722

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $244,000 of principal by year 30	$0
Plus rental profits, invested at 7%$73,624 of profit by year 30, before investment growth	$105,111
What you'd walk away with	$801,007
If you put the same money in stocks
Cash to close ($70,150) invested at 7%	$534,000
Monthly shortfalls ($41,513 total by yr 30) investedThe money you'd have put into the building while it lost money	$227,399
What you'd walk away with	$761,399
Building minus stocks	$39,608

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $244,000 of principal by year 30	$0
Plus rental profits, invested at 7%$9,656 of profit by year 30, before investment growth	$10,828
What you'd walk away with	$706,724
If you put the same money in stocks
Cash to close ($70,150) invested at 7%	$534,000
Monthly shortfalls ($107,951 total by yr 30) investedThe money you'd have put into the building while it lost money	$488,423
What you'd walk away with	$1,022,423
Building minus stocks	−$315,699

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$764,588
Minus 6% selling cost	−$45,875
Minus loan still owedTenants' rent paid down all $236,250 of principal by year 30	$0
Plus rental profits, invested at 7%$84,051 of profit by year 30, before investment growth	$123,926
What you'd walk away with	$842,638
If you put the same money in stocks
Cash to close ($88,200) invested at 7%	$671,401
Monthly shortfalls ($33,378 total by yr 30) investedThe money you'd have put into the building while it lost money	$187,768
What you'd walk away with	$859,169
Building minus stocks	−$16,531

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$764,588
Minus 6% selling cost	−$45,875
Minus loan still owedTenants' rent paid down all $236,250 of principal by year 30	$0
Plus rental profits, invested at 7%$14,061 of profit by year 30, before investment growth	$16,306
What you'd walk away with	$735,018
If you put the same money in stocks
Cash to close ($88,200) invested at 7%	$671,401
Monthly shortfalls ($93,794 total by yr 30) investedThe money you'd have put into the building while it lost money	$435,455
What you'd walk away with	$1,106,856
Building minus stocks	−$371,838

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $228,750 of principal by year 30	$0
Plus rental profits, invested at 7%$94,981 of profit by year 30, before investment growth	$144,797
What you'd walk away with	$840,693
If you put the same money in stocks
Cash to close ($85,400) invested at 7%	$650,087
Monthly shortfalls ($26,345 total by yr 30) investedThe money you'd have put into the building while it lost money	$152,079
What you'd walk away with	$802,166
Building minus stocks	$38,527

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$740,315
Minus 6% selling cost	−$44,419
Minus loan still owedTenants' rent paid down all $228,750 of principal by year 30	$0
Plus rental profits, invested at 7%$19,132 of profit by year 30, before investment growth	$22,933
What you'd walk away with	$718,829
If you put the same money in stocks
Cash to close ($85,400) invested at 7%	$650,087
Monthly shortfalls ($80,902 total by yr 30) investedThe money you'd have put into the building while it lost money	$385,521
What you'd walk away with	$1,035,608
Building minus stocks	−$316,779

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

mediumNo rental certificate (CofO) on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: St. Paul Certificate of Occupancy – Residential: no record for 380 LARPENTEUR AVE E (dataset last updated mid-2025)
mediumAsking is $96,991 above the price where cash flow breaks even ($218,009) at the default scenario. Based on: Derived: price $315,000 vs. break-even $218,009
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 202922220011: 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)	$6,372
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,216
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. base rate	8% / 8%

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1969
Market value (2026)	$293,400
Property tax, payable 2026	$6,372
Special assessments	$572
Homestead	no
Last sale	—

Source: Ramsey County parcel records.

City rental certificate (CofO)

No record in St. Paul Certificate of Occupancy – Residential (dataset last updated mid-2025).

Nearest highway

I 35E;US 10, about 364 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

2026-09-05New at $315,000