596 Case Ave

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

Cash flows

Asking price: $190,000
Monthly cash flow: $369
Estimated rent: $2,850/mo
Break-even price: $259,296

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.)$1,425 $1,250–$1,575
2 bed / 1 bath (est.)$1,425 $1,250–$1,575

RentCast long-term rent estimate per unit, with our adjustments listed below. Confidence: medium.

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

Price: $190,000
Monthly cash flow: $369
Cash to close: $43,700
Cap rate: 8.7%
Cash-on-cash: 10.1%
DSCR: 1.36×
GRM: 5.6
Price per unit: $95,000
Price that breaks even: $259,296
Rent that breaks even: $2,371/mo
Cash flow turns positive: year 1
Year 30: property vs stocks: $1.36M vs $333K

Monthly breakdown

Rent	$2,850
Vacancy (6%)	−$171
Collected	$2,679
Property tax Public record	−$379
Insurance Estimate	−$205
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$228
Capital reserve (9% of rent)	−$256
Net operating income	$1,380
Mortgage (principal + interest)	−$1,011
Cash flow	$369
Principal paid down (equity, not cash)	$129

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 $1.36M, stocks $333K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$461,180
Minus 6% selling cost	−$27,671
Minus loan still owedTenants' rent paid down all $171,000 of principal by year 30	$0
Plus rental profits, invested at 7%$333,652 of profit by year 30, before investment growth	$749,069
What you'd walk away with	$1,182,578
If you put the same money in stocks
Cash to close ($24,700) invested at 7%	$188,023
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	$188,023
Building minus stocks	$994,555

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$461,180
Minus 6% selling cost	−$27,671
Minus loan still owedTenants' rent paid down all $171,000 of principal by year 30	$0
Plus rental profits, invested at 7%$198,865 of profit by year 30, before investment growth	$393,289
What you'd walk away with	$826,798
If you put the same money in stocks
Cash to close ($24,700) invested at 7%	$188,023
Monthly shortfalls ($2,864 total by yr 30) investedThe money you'd have put into the building while it lost money	$19,265
What you'd walk away with	$207,288
Building minus stocks	$619,510

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$436,907
Minus 6% selling cost	−$26,214
Minus loan still owedTenants' rent paid down all $162,000 of principal by year 30	$0
Plus rental profits, invested at 7%$355,478 of profit by year 30, before investment growth	$818,682
What you'd walk away with	$1,229,375
If you put the same money in stocks
Cash to close ($23,400) invested at 7%	$178,127
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	$178,127
Building minus stocks	$1,051,248

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$436,907
Minus 6% selling cost	−$26,214
Minus loan still owedTenants' rent paid down all $162,000 of principal by year 30	$0
Plus rental profits, invested at 7%$218,427 of profit by year 30, before investment growth	$447,852
What you'd walk away with	$858,545
If you put the same money in stocks
Cash to close ($23,400) invested at 7%	$178,127
Monthly shortfalls ($600 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,216
What you'd walk away with	$182,343
Building minus stocks	$676,202

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$461,180
Minus 6% selling cost	−$27,671
Minus loan still owedTenants' rent paid down all $152,000 of principal by year 30	$0
Plus rental profits, invested at 7%$384,289 of profit by year 30, before investment growth	$925,424
What you'd walk away with	$1,358,933
If you put the same money in stocks
Cash to close ($43,700) invested at 7%	$332,656
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	$332,656
Building minus stocks	$1,026,277

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$461,180
Minus 6% selling cost	−$27,671
Minus loan still owedTenants' rent paid down all $152,000 of principal by year 30	$0
Plus rental profits, invested at 7%$246,638 of profit by year 30, before investment growth	$550,378
What you'd walk away with	$983,887
If you put the same money in stocks
Cash to close ($43,700) invested at 7%	$332,656
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	$332,656
Building minus stocks	$651,231

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$436,907
Minus 6% selling cost	−$26,214
Minus loan still owedTenants' rent paid down all $144,000 of principal by year 30	$0
Plus rental profits, invested at 7%$403,450 of profit by year 30, before investment growth	$985,756
What you'd walk away with	$1,396,448
If you put the same money in stocks
Cash to close ($41,400) invested at 7%	$315,147
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	$315,147
Building minus stocks	$1,081,301

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$436,907
Minus 6% selling cost	−$26,214
Minus loan still owedTenants' rent paid down all $144,000 of principal by year 30	$0
Plus rental profits, invested at 7%$265,799 of profit by year 30, before investment growth	$610,709
What you'd walk away with	$1,021,402
If you put the same money in stocks
Cash to close ($41,400) invested at 7%	$315,147
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	$315,147
Building minus stocks	$706,255

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$461,180
Minus 6% selling cost	−$27,671
Minus loan still owedTenants' rent paid down all $142,500 of principal by year 30	$0
Plus rental profits, invested at 7%$407,042 of profit by year 30, before investment growth	$997,068
What you'd walk away with	$1,430,577
If you put the same money in stocks
Cash to close ($53,200) invested at 7%	$404,972
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	$404,972
Building minus stocks	$1,025,605

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$461,180
Minus 6% selling cost	−$27,671
Minus loan still owedTenants' rent paid down all $142,500 of principal by year 30	$0
Plus rental profits, invested at 7%$269,391 of profit by year 30, before investment growth	$622,022
What you'd walk away with	$1,055,531
If you put the same money in stocks
Cash to close ($53,200) invested at 7%	$404,972
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	$404,972
Building minus stocks	$650,559

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$436,907
Minus 6% selling cost	−$26,214
Minus loan still owedTenants' rent paid down all $135,000 of principal by year 30	$0
Plus rental profits, invested at 7%$425,005 of profit by year 30, before investment growth	$1,053,628
What you'd walk away with	$1,464,321
If you put the same money in stocks
Cash to close ($50,400) invested at 7%	$383,658
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	$383,658
Building minus stocks	$1,080,663

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$436,907
Minus 6% selling cost	−$26,214
Minus loan still owedTenants' rent paid down all $135,000 of principal by year 30	$0
Plus rental profits, invested at 7%$287,354 of profit by year 30, before investment growth	$678,582
What you'd walk away with	$1,089,275
If you put the same money in stocks
Cash to close ($50,400) invested at 7%	$383,658
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	$383,658
Building minus stocks	$705,617

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

medium$1,701 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 292922420063: special assessments (payable 2026) = $1,701.42

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)	$4,553
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,460
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 1890: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1890
Market value (2026)	$249,200
Property tax, payable 2026	$4,553
Special assessments	$1,701
Homestead	no
Last sale	2022-03-15 · $207,000

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), B, status pending, renews 2027-03-30.

Nearest highway

I 35E;US 10, about 1037 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

2026-08-30Price cut at $190,000 (was $244,900) · from listing history
2026-08-30New at $190,000