591 Payne Ave

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

Cash flows

Asking price: $275,000
Monthly cash flow: $149
Estimated rent: $3,300/mo
Break-even price: $302,931

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

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: $275,000
Monthly cash flow: $149
Cash to close: $63,250
Cap rate: 7.0%
Cash-on-cash: 2.8%
DSCR: 1.10×
GRM: 6.9
Price per unit: $137,500
Price that breaks even: $302,931
Rent that breaks even: $3,107/mo
Cash flow turns positive: year 1
Year 30: property vs stocks: $1.39M vs $481K

Monthly breakdown

Rent	$3,300
Vacancy (6%)	−$198
Collected	$3,102
Property tax Public record	−$480
Insurance Estimate	−$219
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$264
Capital reserve (9% of rent)	−$297
Net operating income	$1,612
Mortgage (principal + interest)	−$1,464
Cash flow	$149
Principal paid down (equity, not cash)	$186

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 $1.39M, stocks $481K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $247,500 of principal by year 30	$0
Plus rental profits, invested at 7%$281,039 of profit by year 30, before investment growth	$547,084
What you'd walk away with	$1,174,531
If you put the same money in stocks
Cash to close ($35,750) invested at 7%	$272,138
Monthly shortfalls ($5,868 total by yr 30) investedThe money you'd have put into the building while it lost money	$38,995
What you'd walk away with	$311,133
Building minus stocks	$863,398

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $247,500 of principal by year 30	$0
Plus rental profits, invested at 7%$140,858 of profit by year 30, before investment growth	$229,212
What you'd walk away with	$856,659
If you put the same money in stocks
Cash to close ($35,750) invested at 7%	$272,138
Monthly shortfalls ($25,071 total by yr 30) investedThe money you'd have put into the building while it lost money	$155,387
What you'd walk away with	$427,525
Building minus stocks	$429,134

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $238,500 of principal by year 30	$0
Plus rental profits, invested at 7%$299,855 of profit by year 30, before investment growth	$597,208
What you'd walk away with	$1,201,839
If you put the same money in stocks
Cash to close ($34,450) invested at 7%	$262,242
Monthly shortfalls ($2,857 total by yr 30) investedThe money you'd have put into the building while it lost money	$19,507
What you'd walk away with	$281,749
Building minus stocks	$920,090

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $238,500 of principal by year 30	$0
Plus rental profits, invested at 7%$156,775 of profit by year 30, before investment growth	$264,926
What you'd walk away with	$869,557
If you put the same money in stocks
Cash to close ($34,450) invested at 7%	$262,242
Monthly shortfalls ($19,163 total by yr 30) investedThe money you'd have put into the building while it lost money	$121,488
What you'd walk away with	$383,730
Building minus stocks	$485,827

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $220,000 of principal by year 30	$0
Plus rental profits, invested at 7%$348,462 of profit by year 30, before investment growth	$763,339
What you'd walk away with	$1,390,787
If you put the same money in stocks
Cash to close ($63,250) invested at 7%	$481,475
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	$481,475
Building minus stocks	$909,312

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $220,000 of principal by year 30	$0
Plus rental profits, invested at 7%$192,753 of profit by year 30, before investment growth	$353,721
What you'd walk away with	$981,168
If you put the same money in stocks
Cash to close ($63,250) invested at 7%	$481,475
Monthly shortfalls ($3,676 total by yr 30) investedThe money you'd have put into the building while it lost money	$24,645
What you'd walk away with	$506,120
Building minus stocks	$475,048

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $212,000 of principal by year 30	$0
Plus rental profits, invested at 7%$367,622 of profit by year 30, before investment growth	$823,670
What you'd walk away with	$1,428,302
If you put the same money in stocks
Cash to close ($60,950) invested at 7%	$463,967
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	$463,967
Building minus stocks	$964,335

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $212,000 of principal by year 30	$0
Plus rental profits, invested at 7%$209,736 of profit by year 30, before investment growth	$399,777
What you'd walk away with	$1,004,408
If you put the same money in stocks
Cash to close ($60,950) invested at 7%	$463,967
Monthly shortfalls ($1,499 total by yr 30) investedThe money you'd have put into the building while it lost money	$10,370
What you'd walk away with	$474,337
Building minus stocks	$530,071

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $206,250 of principal by year 30	$0
Plus rental profits, invested at 7%$381,394 of profit by year 30, before investment growth	$867,034
What you'd walk away with	$1,494,481
If you put the same money in stocks
Cash to close ($77,000) invested at 7%	$586,144
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	$586,144
Building minus stocks	$908,337

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $206,250 of principal by year 30	$0
Plus rental profits, invested at 7%$222,522 of profit by year 30, before investment growth	$436,397
What you'd walk away with	$1,063,844
If you put the same money in stocks
Cash to close ($77,000) invested at 7%	$586,144
Monthly shortfalls ($513 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,627
What you'd walk away with	$589,771
Building minus stocks	$474,073

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $198,750 of principal by year 30	$0
Plus rental profits, invested at 7%$399,357 of profit by year 30, before investment growth	$923,594
What you'd walk away with	$1,528,225
If you put the same money in stocks
Cash to close ($74,200) invested at 7%	$564,829
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	$564,829
Building minus stocks	$963,396

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $198,750 of principal by year 30	$0
Plus rental profits, invested at 7%$239,972 of profit by year 30, before investment growth	$489,330
What you'd walk away with	$1,093,961
If you put the same money in stocks
Cash to close ($74,200) invested at 7%	$564,829
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	$564,829
Building minus stocks	$529,132

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

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 322922240018: special assessments (payable 2026) = $432.50

Opportunities

The seller bought for $90,000 in Sep 2010, so they can take a lower offer and still come out well ahead. Public record: Ramsey County parcel 322922240018: last sale 2010-09-10, $90,000

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)	$5,760
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,625
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 1889: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	two family dwelling - side/side
Living units	2
Year built	1889
Market value (2026)	$263,900
Property tax, payable 2026	$5,760
Special assessments	$432
Homestead	no
Last sale	2010-09-10 · $90,000

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), B, status pending, renews 2027-06-28.

Nearest highway

I 94;US 10, about 449 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

2026-08-22New at $275,000