365 Case Ave

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

Cash flows

Asking price: $224,900
Monthly cash flow: $66
Estimated rent: $2,700/mo
Break-even price: $237,333

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

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: $224,900
Monthly cash flow: $66
Cash to close: $51,727
Cap rate: 6.7%
Cash-on-cash: 1.5%
DSCR: 1.06×
GRM: 6.9
Price per unit: $112,450
Price that breaks even: $237,333
Rent that breaks even: $2,614/mo
Cash flow turns positive: year 1
Year 30: property vs stocks: $1.05M vs $394K

Monthly breakdown

Rent	$2,700
Vacancy (6%)	−$162
Collected	$2,538
Property tax Public record	−$377
Insurance Estimate	−$208
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$216
Capital reserve (9% of rent)	−$243
Net operating income	$1,263
Mortgage (principal + interest)	−$1,197
Cash flow	$66
Principal paid down (equity, not cash)	$152

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 $1.05M, stocks $394K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$545,891
Minus 6% selling cost	−$32,753
Minus loan still owedTenants' rent paid down all $202,410 of principal by year 30	$0
Plus rental profits, invested at 7%$198,275 of profit by year 30, before investment growth	$374,059
What you'd walk away with	$887,197
If you put the same money in stocks
Cash to close ($29,237) invested at 7%	$222,560
Monthly shortfalls ($7,601 total by yr 30) investedThe money you'd have put into the building while it lost money	$49,905
What you'd walk away with	$272,464
Building minus stocks	$614,733

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$545,891
Minus 6% selling cost	−$32,753
Minus loan still owedTenants' rent paid down all $202,410 of principal by year 30	$0
Plus rental profits, invested at 7%$88,331 of profit by year 30, before investment growth	$135,900
What you'd walk away with	$649,038
If you put the same money in stocks
Cash to close ($29,237) invested at 7%	$222,560
Monthly shortfalls ($28,064 total by yr 30) investedThe money you'd have put into the building while it lost money	$167,053
What you'd walk away with	$389,613
Building minus stocks	$259,425

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,619
Minus 6% selling cost	−$31,297
Minus loan still owedTenants' rent paid down all $193,410 of principal by year 30	$0
Plus rental profits, invested at 7%$216,957 of profit by year 30, before investment growth	$423,405
What you'd walk away with	$913,726
If you put the same money in stocks
Cash to close ($27,937) invested at 7%	$212,664
Monthly shortfalls ($4,457 total by yr 30) investedThe money you'd have put into the building while it lost money	$29,638
What you'd walk away with	$242,301
Building minus stocks	$671,425

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,619
Minus 6% selling cost	−$31,297
Minus loan still owedTenants' rent paid down all $193,410 of principal by year 30	$0
Plus rental profits, invested at 7%$102,768 of profit by year 30, before investment growth	$165,646
What you'd walk away with	$655,967
If you put the same money in stocks
Cash to close ($27,937) invested at 7%	$212,664
Monthly shortfalls ($20,675 total by yr 30) investedThe money you'd have put into the building while it lost money	$127,186
What you'd walk away with	$339,849
Building minus stocks	$316,118

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$545,891
Minus 6% selling cost	−$32,753
Minus loan still owedTenants' rent paid down all $179,920 of principal by year 30	$0
Plus rental profits, invested at 7%$250,611 of profit by year 30, before investment growth	$532,903
What you'd walk away with	$1,046,040
If you put the same money in stocks
Cash to close ($51,727) invested at 7%	$393,759
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	$393,759
Building minus stocks	$652,281

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$545,891
Minus 6% selling cost	−$32,753
Minus loan still owedTenants' rent paid down all $179,920 of principal by year 30	$0
Plus rental profits, invested at 7%$126,871 of profit by year 30, before investment growth	$220,331
What you'd walk away with	$733,469
If you put the same money in stocks
Cash to close ($51,727) invested at 7%	$393,759
Monthly shortfalls ($6,666 total by yr 30) investedThe money you'd have put into the building while it lost money	$42,735
What you'd walk away with	$436,494
Building minus stocks	$296,975

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,619
Minus 6% selling cost	−$31,297
Minus loan still owedTenants' rent paid down all $171,920 of principal by year 30	$0
Plus rental profits, invested at 7%$269,772 of profit by year 30, before investment growth	$593,234
What you'd walk away with	$1,083,555
If you put the same money in stocks
Cash to close ($49,427) invested at 7%	$376,251
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	$376,251
Building minus stocks	$707,304

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,619
Minus 6% selling cost	−$31,297
Minus loan still owedTenants' rent paid down all $171,920 of principal by year 30	$0
Plus rental profits, invested at 7%$142,626 of profit by year 30, before investment growth	$259,661
What you'd walk away with	$749,982
If you put the same money in stocks
Cash to close ($49,427) invested at 7%	$376,251
Monthly shortfalls ($3,260 total by yr 30) investedThe money you'd have put into the building while it lost money	$21,734
What you'd walk away with	$397,985
Building minus stocks	$351,997

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$545,891
Minus 6% selling cost	−$32,753
Minus loan still owedTenants' rent paid down all $168,675 of principal by year 30	$0
Plus rental profits, invested at 7%$277,544 of profit by year 30, before investment growth	$617,706
What you'd walk away with	$1,130,843
If you put the same money in stocks
Cash to close ($62,972) invested at 7%	$479,359
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	$479,359
Building minus stocks	$651,484

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$545,891
Minus 6% selling cost	−$32,753
Minus loan still owedTenants' rent paid down all $168,675 of principal by year 30	$0
Plus rental profits, invested at 7%$149,361 of profit by year 30, before investment growth	$277,453
What you'd walk away with	$790,591
If you put the same money in stocks
Cash to close ($62,972) invested at 7%	$479,359
Monthly shortfalls ($2,223 total by yr 30) investedThe money you'd have put into the building while it lost money	$15,054
What you'd walk away with	$494,413
Building minus stocks	$296,178

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,619
Minus 6% selling cost	−$31,297
Minus loan still owedTenants' rent paid down all $161,175 of principal by year 30	$0
Plus rental profits, invested at 7%$295,507 of profit by year 30, before investment growth	$674,266
What you'd walk away with	$1,164,588
If you put the same money in stocks
Cash to close ($60,172) invested at 7%	$458,045
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	$458,045
Building minus stocks	$706,543

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,619
Minus 6% selling cost	−$31,297
Minus loan still owedTenants' rent paid down all $161,175 of principal by year 30	$0
Plus rental profits, invested at 7%$165,679 of profit by year 30, before investment growth	$323,008
What you'd walk away with	$813,329
If you put the same money in stocks
Cash to close ($60,172) invested at 7%	$458,045
Monthly shortfalls ($577 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,048
What you'd walk away with	$462,093
Building minus stocks	$351,236

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 292922230154: special assessments (payable 2026) = $432.50

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 106 days on market, 1 price cuts

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)	$4,530
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,500
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 1894: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1894
Market value (2026)	$212,300
Property tax, payable 2026	$4,530
Special assessments	$432
Homestead	no
Last sale	2016-03-31 · $219,778

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), A, status pending, renews 2028-11-02.

Nearest highway

I 35E;US 10, about 274 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

2026-06-18Price cut at $224,900 (was $239,900) · from listing history
2026-06-18New at $224,900