429 Mount Ida St

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

Asking price: $510,000
Monthly cash flow: −$62
Estimated rent: $5,400/mo
Break-even price: $498,439

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
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: $510,000
Monthly cash flow: −$62
Cash to close: $117,300
Cap rate: 6.2%
Cash-on-cash: −0.6%
DSCR: 0.98×
GRM: 7.9
Price per unit: $127,500
Price that breaks even: $498,439
Rent that breaks even: $5,481/mo
Cash flow turns positive: year 2
Year 30: property vs stocks: $2.08M vs $898K

Monthly breakdown

Rent	$5,400
Vacancy (6%)	−$324
Collected	$5,076
Property tax Public record	−$646
Insurance Estimate	−$405
Water, sewer, trash Estimate	−$340
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$486
Capital reserve (9% of rent)	−$486
Net operating income	$2,653
Mortgage (principal + interest)	−$2,714
Cash flow	−$62
Principal paid down (equity, not cash)	$345

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 $2.08M, stocks $898K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,237,904
Minus 6% selling cost	−$74,274
Minus loan still owedTenants' rent paid down all $459,000 of principal by year 30	$0
Plus rental profits, invested at 7%$360,106 of profit by year 30, before investment growth	$630,939
What you'd walk away with	$1,794,568
If you put the same money in stocks
Cash to close ($66,300) invested at 7%	$504,693
Monthly shortfalls ($29,142 total by yr 30) investedThe money you'd have put into the building while it lost money	$188,248
What you'd walk away with	$692,941
Building minus stocks	$1,101,627

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,237,904
Minus 6% selling cost	−$74,274
Minus loan still owedTenants' rent paid down all $459,000 of principal by year 30	$0
Plus rental profits, invested at 7%$157,357 of profit by year 30, before investment growth	$228,209
What you'd walk away with	$1,391,839
If you put the same money in stocks
Cash to close ($66,300) invested at 7%	$504,693
Monthly shortfalls ($87,205 total by yr 30) investedThe money you'd have put into the building while it lost money	$496,132
What you'd walk away with	$1,000,825
Building minus stocks	$391,014

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $450,000 of principal by year 30	$0
Plus rental profits, invested at 7%$377,835 of profit by year 30, before investment growth	$675,196
What you'd walk away with	$1,816,010
If you put the same money in stocks
Cash to close ($65,000) invested at 7%	$494,797
Monthly shortfalls ($25,045 total by yr 30) investedThe money you'd have put into the building while it lost money	$162,893
What you'd walk away with	$657,689
Building minus stocks	$1,158,321

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $450,000 of principal by year 30	$0
Plus rental profits, invested at 7%$169,733 of profit by year 30, before investment growth	$250,877
What you'd walk away with	$1,391,690
If you put the same money in stocks
Cash to close ($65,000) invested at 7%	$494,797
Monthly shortfalls ($77,755 total by yr 30) investedThe money you'd have put into the building while it lost money	$449,187
What you'd walk away with	$943,984
Building minus stocks	$447,706

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,237,904
Minus 6% selling cost	−$74,274
Minus loan still owedTenants' rent paid down all $408,000 of principal by year 30	$0
Plus rental profits, invested at 7%$467,622 of profit by year 30, before investment growth	$921,317
What you'd walk away with	$2,084,947
If you put the same money in stocks
Cash to close ($117,300) invested at 7%	$892,918
Monthly shortfalls ($738 total by yr 30) investedThe money you'd have put into the building while it lost money	$5,253
What you'd walk away with	$898,170
Building minus stocks	$1,186,777

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,237,904
Minus 6% selling cost	−$74,274
Minus loan still owedTenants' rent paid down all $408,000 of principal by year 30	$0
Plus rental profits, invested at 7%$235,156 of profit by year 30, before investment growth	$382,795
What you'd walk away with	$1,546,425
If you put the same money in stocks
Cash to close ($117,300) invested at 7%	$892,918
Monthly shortfalls ($29,085 total by yr 30) investedThe money you'd have put into the building while it lost money	$177,345
What you'd walk away with	$1,070,262
Building minus stocks	$476,163

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $400,000 of principal by year 30	$0
Plus rental profits, invested at 7%$486,144 of profit by year 30, before investment growth	$977,105
What you'd walk away with	$2,117,918
If you put the same money in stocks
Cash to close ($115,000) invested at 7%	$875,409
Monthly shortfalls ($100 total by yr 30) investedThe money you'd have put into the building while it lost money	$709
What you'd walk away with	$876,118
Building minus stocks	$1,241,800

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $400,000 of principal by year 30	$0
Plus rental profits, invested at 7%$249,146 of profit by year 30, before investment growth	$413,839
What you'd walk away with	$1,554,653
If you put the same money in stocks
Cash to close ($115,000) invested at 7%	$875,409
Monthly shortfalls ($23,913 total by yr 30) investedThe money you'd have put into the building while it lost money	$148,058
What you'd walk away with	$1,023,467
Building minus stocks	$531,186

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,237,904
Minus 6% selling cost	−$74,274
Minus loan still owedTenants' rent paid down all $382,500 of principal by year 30	$0
Plus rental profits, invested at 7%$527,959 of profit by year 30, before investment growth	$1,108,370
What you'd walk away with	$2,271,999
If you put the same money in stocks
Cash to close ($142,800) invested at 7%	$1,087,030
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	$1,087,030
Building minus stocks	$1,184,969

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,237,904
Minus 6% selling cost	−$74,274
Minus loan still owedTenants' rent paid down all $382,500 of principal by year 30	$0
Plus rental profits, invested at 7%$281,334 of profit by year 30, before investment growth	$488,833
What you'd walk away with	$1,652,463
If you put the same money in stocks
Cash to close ($142,800) invested at 7%	$1,087,030
Monthly shortfalls ($14,187 total by yr 30) investedThe money you'd have put into the building while it lost money	$91,077
What you'd walk away with	$1,178,107
Building minus stocks	$474,356

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $375,000 of principal by year 30	$0
Plus rental profits, invested at 7%$545,922 of profit by year 30, before investment growth	$1,164,930
What you'd walk away with	$2,305,744
If you put the same money in stocks
Cash to close ($140,000) invested at 7%	$1,065,716
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	$1,065,716
Building minus stocks	$1,240,028

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,213,631
Minus 6% selling cost	−$72,818
Minus loan still owedTenants' rent paid down all $375,000 of principal by year 30	$0
Plus rental profits, invested at 7%$295,821 of profit by year 30, before investment growth	$524,260
What you'd walk away with	$1,665,073
If you put the same money in stocks
Cash to close ($140,000) invested at 7%	$1,065,716
Monthly shortfalls ($10,711 total by yr 30) investedThe money you'd have put into the building while it lost money	$69,943
What you'd walk away with	$1,135,659
Building minus stocks	$529,414

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

mediumFire-inspection grade C: more deficiencies than typical; expect more frequent inspections and repair orders. Public record: St. Paul Certificate of Occupancy – Residential: 429 MOUNT IDA ST, grade/tier=C, status=Pending
medium$1,071 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 322922220019: special assessments (payable 2026) = $1,071.04

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)	$7,749
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,864
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$340
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 bedrooms: +1 pt repairs for wear	9% / 9%

County record Public record

Recorded as	apartments 4-6 rental units
Living units	4
Year built	1890
Market value (2026)	$369,400
Property tax, payable 2026	$7,749
Special assessments	$1,071
Homestead	no
Last sale	2023-10-17 · $505,000

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 3+ Units: 4 unit(s), C, status pending, renews 2025-10-06.

Nearest highway

I 35E;US 10, about 617 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

2026-09-04New at $510,000