707 Preble St

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

Cash flows

Asking price: $239,900
Monthly cash flow: $617
Estimated rent: $3,850/mo
Break-even price: $355,813

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.)$1,925 $1,700–$2,175
3 bed / 1.5 bath (est.)$1,925 $1,700–$2,175

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: $239,900
Monthly cash flow: $617
Cash to close: $55,177
Cap rate: 9.5%
Cash-on-cash: 13.4%
DSCR: 1.48×
GRM: 5.2
Price per unit: $119,950
Price that breaks even: $355,813
Rent that breaks even: $3,049/mo
Cash flow turns positive: year 1
Year 30: property vs stocks: $1.95M vs $420K

Monthly breakdown

Rent	$3,850
Vacancy (6%)	−$231
Collected	$3,619
Property tax Public record	−$598
Insurance Estimate	−$243
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$308
Capital reserve (9% of rent)	−$346
Net operating income	$1,894
Mortgage (principal + interest)	−$1,277
Cash flow	$617
Principal paid down (equity, not cash)	$162

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 $1.95M, stocks $420K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,300
Minus 6% selling cost	−$34,938
Minus loan still owedTenants' rent paid down all $215,910 of principal by year 30	$0
Plus rental profits, invested at 7%$505,571 of profit by year 30, before investment growth	$1,177,167
What you'd walk away with	$1,724,529
If you put the same money in stocks
Cash to close ($31,187) invested at 7%	$237,403
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	$237,403
Building minus stocks	$1,487,126

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,300
Minus 6% selling cost	−$34,938
Minus loan still owedTenants' rent paid down all $215,910 of principal by year 30	$0
Plus rental profits, invested at 7%$319,661 of profit by year 30, before investment growth	$670,809
What you'd walk away with	$1,218,171
If you put the same money in stocks
Cash to close ($31,187) invested at 7%	$237,403
Monthly shortfalls ($40 total by yr 30) investedThe money you'd have put into the building while it lost money	$283
What you'd walk away with	$237,687
Building minus stocks	$980,484

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,028
Minus 6% selling cost	−$33,482
Minus loan still owedTenants' rent paid down all $206,910 of principal by year 30	$0
Plus rental profits, invested at 7%$527,397 of profit by year 30, before investment growth	$1,246,780
What you'd walk away with	$1,771,326
If you put the same money in stocks
Cash to close ($29,887) invested at 7%	$227,507
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	$227,507
Building minus stocks	$1,543,819

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,028
Minus 6% selling cost	−$33,482
Minus loan still owedTenants' rent paid down all $206,910 of principal by year 30	$0
Plus rental profits, invested at 7%$341,447 of profit by year 30, before investment growth	$740,139
What you'd walk away with	$1,264,685
If you put the same money in stocks
Cash to close ($29,887) invested at 7%	$227,507
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	$227,507
Building minus stocks	$1,037,178

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,300
Minus 6% selling cost	−$34,938
Minus loan still owedTenants' rent paid down all $191,920 of principal by year 30	$0
Plus rental profits, invested at 7%$569,507 of profit by year 30, before investment growth	$1,399,838
What you'd walk away with	$1,947,200
If you put the same money in stocks
Cash to close ($55,177) invested at 7%	$420,021
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	$420,021
Building minus stocks	$1,527,179

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,300
Minus 6% selling cost	−$34,938
Minus loan still owedTenants' rent paid down all $191,920 of principal by year 30	$0
Plus rental profits, invested at 7%$383,557 of profit by year 30, before investment growth	$893,197
What you'd walk away with	$1,440,559
If you put the same money in stocks
Cash to close ($55,177) invested at 7%	$420,021
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	$420,021
Building minus stocks	$1,020,538

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,028
Minus 6% selling cost	−$33,482
Minus loan still owedTenants' rent paid down all $183,920 of principal by year 30	$0
Plus rental profits, invested at 7%$588,667 of profit by year 30, before investment growth	$1,460,169
What you'd walk away with	$1,984,715
If you put the same money in stocks
Cash to close ($52,877) invested at 7%	$402,513
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	$402,513
Building minus stocks	$1,582,202

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,028
Minus 6% selling cost	−$33,482
Minus loan still owedTenants' rent paid down all $183,920 of principal by year 30	$0
Plus rental profits, invested at 7%$402,718 of profit by year 30, before investment growth	$953,528
What you'd walk away with	$1,478,074
If you put the same money in stocks
Cash to close ($52,877) invested at 7%	$402,513
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	$402,513
Building minus stocks	$1,075,561

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,300
Minus 6% selling cost	−$34,938
Minus loan still owedTenants' rent paid down all $179,925 of principal by year 30	$0
Plus rental profits, invested at 7%$598,236 of profit by year 30, before investment growth	$1,490,297
What you'd walk away with	$2,037,659
If you put the same money in stocks
Cash to close ($67,172) invested at 7%	$511,330
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	$511,330
Building minus stocks	$1,526,329

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$582,300
Minus 6% selling cost	−$34,938
Minus loan still owedTenants' rent paid down all $179,925 of principal by year 30	$0
Plus rental profits, invested at 7%$412,286 of profit by year 30, before investment growth	$983,656
What you'd walk away with	$1,531,018
If you put the same money in stocks
Cash to close ($67,172) invested at 7%	$511,330
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	$511,330
Building minus stocks	$1,019,688

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,028
Minus 6% selling cost	−$33,482
Minus loan still owedTenants' rent paid down all $172,425 of principal by year 30	$0
Plus rental profits, invested at 7%$616,199 of profit by year 30, before investment growth	$1,546,858
What you'd walk away with	$2,071,404
If you put the same money in stocks
Cash to close ($64,372) invested at 7%	$490,016
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	$490,016
Building minus stocks	$1,581,388

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$558,028
Minus 6% selling cost	−$33,482
Minus loan still owedTenants' rent paid down all $172,425 of principal by year 30	$0
Plus rental profits, invested at 7%$430,249 of profit by year 30, before investment growth	$1,040,216
What you'd walk away with	$1,564,762
If you put the same money in stocks
Cash to close ($64,372) invested at 7%	$490,016
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	$490,016
Building minus stocks	$1,074,746

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.

3 bed / 1.5 bath estimate $1,925/mo · range $1,700–$2,175

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
865 Clark St N, Saint Paul 55130 off market	$1,950	3 / 2	—	0.5 mi	2026-07-03	91%
914 Burr Unit-3 Bedroom St N, Apt 1, Saint Paul 55130 off market	$1,400	3 / 2	—	0.5 mi	2023-05-09	91%
222 Maple St, Apt 1, Saint Paul 55106 off market	$1,400	3 / 1	—	0.8 mi	2024-01-02	90%
880 Wilson Ave, Saint Paul 55106	$1,425	3 / 1	—	0.9 mi	2026-07-21	90%
Ross Ave, Unit 1090, Saint Paul 55106	$1,910	3 / 1	—	1.0 mi	2026-09-02	90%
653 5th St E, Saint Paul 55106 off market	$1,808	3 / 1	1,555	0.5 mi	2026-04-09	84%
786 7th St E, Saint Paul 55106 off market	$1,599	3 / 1	1,300	0.4 mi	2026-06-22	82%
754 Payne Ave Apt D, Saint Paul 55130	$1,361	2 / 1	—	0.1 mi	2026-09-27	82%
586 Reaney Ave E, Unit 586U2, Saint Paul 55130	$1,614	3 / 1	1,100	0.1 mi	2023-06-04	81%
691 Bedford St, Unit A, Saint Paul 55130	$2,052	3 / 1	1,050	0.1 mi	2025-09-24	81%

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

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 707 PREBLE ST (dataset last updated mid-2025)
medium$1,859 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 322922120078: special assessments (payable 2026) = $1,858.54

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 109 days on market

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)	$7,175
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,913
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 1884: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1884
Market value (2026)	$340,400
Property tax, payable 2026	$7,175
Special assessments	$1,859
Homestead	no
Last sale	2023-05-15 · $390,000

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 94;US 10, about 804 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

2026-06-15New at $239,900