588 Selby Ave

Saint Paul, MN · Summit – University (Rondo, Cathedral Hill) · Listing office ↗ · Find the listing ↗

Far off

Asking price: $580,000
Monthly cash flow: −$1,681
Estimated rent: $3,750/mo
Break-even price: $264,157

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
1 bed / 1 bath (est.)$1,050 $900–$1,200

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: $580,000
Monthly cash flow: −$1,681
Cash to close: $133,400
Cap rate: 2.9%
Cash-on-cash: −15.1%
DSCR: 0.46×
GRM: 12.9
Price per unit: $193,333
Price that breaks even: $264,157
Rent that breaks even: $5,933/mo
Cash flow turns positive: not within 30 years
Year 30: property vs stocks: $1.32M vs $2.46M

Monthly breakdown

Rent	$3,750
Vacancy (6%)	−$225
Collected	$3,525
Property tax Public record	−$857
Insurance Estimate	−$309
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$300
Capital reserve (9% of rent)	−$338
Net operating income	$1,406
Mortgage (principal + interest)	−$3,087
Cash flow	−$1,681
Principal paid down (equity, not cash)	$393

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 $1.32M, stocks $2.46M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,407,812
Minus 6% selling cost	−$84,469
Minus loan still owedTenants' rent paid down all $522,000 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	$1,323,343
If you put the same money in stocks
Cash to close ($75,400) invested at 7%	$573,964
Monthly shortfalls ($535,185 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,987,034
What you'd walk away with	$2,560,998
Building minus stocks	−$1,237,655

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,407,812
Minus 6% selling cost	−$84,469
Minus loan still owedTenants' rent paid down all $522,000 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	$1,323,343
If you put the same money in stocks
Cash to close ($75,400) invested at 7%	$573,964
Monthly shortfalls ($716,305 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,480,515
What you'd walk away with	$3,054,479
Building minus stocks	−$1,731,136

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,383,540
Minus 6% selling cost	−$83,012
Minus loan still owedTenants' rent paid down all $513,000 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	$1,300,527
If you put the same money in stocks
Cash to close ($74,100) invested at 7%	$564,068
Monthly shortfalls ($513,360 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,917,421
What you'd walk away with	$2,481,489
Building minus stocks	−$1,180,962

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,383,540
Minus 6% selling cost	−$83,012
Minus loan still owedTenants' rent paid down all $513,000 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	$1,300,527
If you put the same money in stocks
Cash to close ($74,100) invested at 7%	$564,068
Monthly shortfalls ($694,479 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,410,902
What you'd walk away with	$2,974,970
Building minus stocks	−$1,674,443

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,407,812
Minus 6% selling cost	−$84,469
Minus loan still owedTenants' rent paid down all $464,000 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	$1,323,343
If you put the same money in stocks
Cash to close ($133,400) invested at 7%	$1,015,475
Monthly shortfalls ($380,610 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,448,687
What you'd walk away with	$2,464,162
Building minus stocks	−$1,140,819

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,407,812
Minus 6% selling cost	−$84,469
Minus loan still owedTenants' rent paid down all $464,000 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	$1,323,343
If you put the same money in stocks
Cash to close ($133,400) invested at 7%	$1,015,475
Monthly shortfalls ($561,730 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,942,169
What you'd walk away with	$2,957,643
Building minus stocks	−$1,634,300

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,383,540
Minus 6% selling cost	−$83,012
Minus loan still owedTenants' rent paid down all $456,000 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	$1,300,527
If you put the same money in stocks
Cash to close ($131,100) invested at 7%	$997,967
Monthly shortfalls ($361,450 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,388,356
What you'd walk away with	$2,386,322
Building minus stocks	−$1,085,795

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,383,540
Minus 6% selling cost	−$83,012
Minus loan still owedTenants' rent paid down all $456,000 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	$1,300,527
If you put the same money in stocks
Cash to close ($131,100) invested at 7%	$997,967
Monthly shortfalls ($542,569 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,881,837
What you'd walk away with	$2,879,804
Building minus stocks	−$1,579,277

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,407,812
Minus 6% selling cost	−$84,469
Minus loan still owedTenants' rent paid down all $435,000 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	$1,323,343
If you put the same money in stocks
Cash to close ($162,400) invested at 7%	$1,236,230
Monthly shortfalls ($311,153 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,229,986
What you'd walk away with	$2,466,217
Building minus stocks	−$1,142,874

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,407,812
Minus 6% selling cost	−$84,469
Minus loan still owedTenants' rent paid down all $435,000 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	$1,323,343
If you put the same money in stocks
Cash to close ($162,400) invested at 7%	$1,236,230
Monthly shortfalls ($492,272 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,723,468
What you'd walk away with	$2,959,698
Building minus stocks	−$1,636,355

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,383,540
Minus 6% selling cost	−$83,012
Minus loan still owedTenants' rent paid down all $427,500 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	$1,300,527
If you put the same money in stocks
Cash to close ($159,600) invested at 7%	$1,214,916
Monthly shortfalls ($293,190 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,173,426
What you'd walk away with	$2,388,342
Building minus stocks	−$1,087,815

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,383,540
Minus 6% selling cost	−$83,012
Minus loan still owedTenants' rent paid down all $427,500 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	$1,300,527
If you put the same money in stocks
Cash to close ($159,600) invested at 7%	$1,214,916
Monthly shortfalls ($474,309 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,666,908
What you'd walk away with	$2,881,823
Building minus stocks	−$1,581,296

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 $315,843 above the price where cash flow breaks even ($264,157) at the default scenario. Based on: Derived: price $580,000 vs. break-even $264,157
low$649 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 012823220168: special assessments (payable 2026) = $648.76

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)	$10,285
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,713
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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 1869: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	three family dwelling, platted lot
Living units	3
Year built	1869
Market value (2026)	$483,500
Property tax, payable 2026	$10,285
Special assessments	$649
Homestead	no
Last sale	—

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 3+ Units: 3 unit(s), A, status pending, renews 2028-06-30.

Nearest highway

I 94, about 604 m away.

Crime in Summit – University

1,067 incidents in the last 12 months (59 per 1,000 residents), −13% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.

Status history

2026-07-16Price increase at $580,000 (was $549,900) · from listing history
2026-07-16New at $580,000