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St. Paul › Payne – Phalen

886 Payne Ave

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

Far off
Asking price
$419,900
3 units · $140K per unit
Monthly cash flow
−$1,238
at 20% down, 7%
Estimated rent
$3,150/mo
rough estimate
Break-even price
$187,358
where cash flow hits $0

Adjust these numbers in the calculator See the full breakdown

The numbers

Down payment %
Offer
Management
Interest rate %

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

  • 1 bed / 1 bath (est.)$1,050 $900–$1,200
  • 1 bed / 1 bath (est.)$1,050 $900–$1,200
  • 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
$419,900
Monthly cash flow
−$1,238
Cash to close
$96,577
Cap rate
2.8%
Cash-on-cash
−15.4%
DSCR
0.45×
GRM
11.1
Price per unit
$139,967
Price that breaks even
$187,358
Rent that breaks even
$4,757/mo
Cash flow turns positive
not within 30 years
Year 30: property vs stocks
$958K vs $1.85M

Monthly breakdown

Rent$3,150
Vacancy (6%)−$189
Collected$2,961
Property tax Public record−$768
Insurance Estimate−$346
Water, sewer, trash Estimate−$255
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$252
Capital reserve (9% of rent)−$284
Net operating income$997
Mortgage (principal + interest)−$2,235
Cash flow−$1,238
Principal paid down (equity, not cash)$284

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 $958K, stocks $1.85M. Stocks win.

How those totals add up

Year 30
If you buy this building
Sale priceValue grows 3% a year from the price$1,019,208
Minus 6% selling cost−$61,152
Minus loan still owedTenants' rent paid down all $335,920 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$958,055
If you put the same money in stocks
Cash to close ($96,577) invested at 7%$735,169
Monthly shortfalls ($304,620 total by yr 30) investedThe money you'd have put into the building while it lost money$1,113,695
What you'd walk away with$1,848,864
Building minus stocks−$890,809

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 886 PAYNE AVE (dataset last updated mid-2025)
  • mediumAsking is $232,542 above the price where cash flow breaks even ($187,358) at the default scenario. Based on: Derived: price $419,900 vs. break-even $187,358
  • low$328 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 292922420147: special assessments (payable 2026) = $328.50

Opportunities

  • The seller bought for $96,000 in Sep 2002, so they can take a lower offer and still come out well ahead. Public record: Ramsey County parcel 292922420147: last sale 2002-09-27, $96,000

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)$9,212
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$4,148
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 1910: +1 pt capital reserve8% / 9%

County record Public record

Recorded as—
Living units3
Year built1910
Market value (2026)$419,600
Property tax, payable 2026$9,212
Special assessments$328
Homesteadno
Last sale2002-09-27 · $96,000

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 35E;US 10, about 1203 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