701 Desoto St

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

Cash flows

Asking price: $249,000
Monthly cash flow: $445
Estimated rent: $3,350/mo
Break-even price: $332,662

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 bath (est.)$1,675 $1,475–$1,875
3 bed / 1 bath (est.)$1,675 $1,475–$1,875

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: $249,000
Monthly cash flow: $445
Cash to close: $57,270
Cap rate: 8.5%
Cash-on-cash: 9.3%
DSCR: 1.34×
GRM: 6.2
Price per unit: $124,500
Price that breaks even: $332,662
Rent that breaks even: $2,772/mo
Cash flow turns positive: year 1
Year 30: property vs stocks: $1.75M vs $436K

Monthly breakdown

Rent	$3,350
Vacancy (6%)	−$201
Collected	$3,149
Property tax Public record	−$379
Insurance Estimate	−$200
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$268
Capital reserve (9% of rent)	−$302
Net operating income	$1,771
Mortgage (principal + interest)	−$1,325
Cash flow	$445
Principal paid down (equity, not cash)	$169

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 $1.75M, stocks $436K. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$604,388
Minus 6% selling cost	−$36,263
Minus loan still owedTenants' rent paid down all $224,100 of principal by year 30	$0
Plus rental profits, invested at 7%$428,074 of profit by year 30, before investment growth	$946,251
What you'd walk away with	$1,514,376
If you put the same money in stocks
Cash to close ($32,370) invested at 7%	$246,409
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	$246,409
Building minus stocks	$1,267,967

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$604,388
Minus 6% selling cost	−$36,263
Minus loan still owedTenants' rent paid down all $224,100 of principal by year 30	$0
Plus rental profits, invested at 7%$270,206 of profit by year 30, before investment growth	$531,840
What you'd walk away with	$1,099,965
If you put the same money in stocks
Cash to close ($32,370) invested at 7%	$246,409
Monthly shortfalls ($3,932 total by yr 30) investedThe money you'd have put into the building while it lost money	$26,433
What you'd walk away with	$272,842
Building minus stocks	$827,123

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $215,100 of principal by year 30	$0
Plus rental profits, invested at 7%$449,900 of profit by year 30, before investment growth	$1,015,864
What you'd walk away with	$1,561,172
If you put the same money in stocks
Cash to close ($31,070) invested at 7%	$236,513
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	$236,513
Building minus stocks	$1,324,659

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $215,100 of principal by year 30	$0
Plus rental profits, invested at 7%$289,493 of profit by year 30, before investment growth	$584,723
What you'd walk away with	$1,130,032
If you put the same money in stocks
Cash to close ($31,070) invested at 7%	$236,513
Monthly shortfalls ($1,394 total by yr 30) investedThe money you'd have put into the building while it lost money	$9,703
What you'd walk away with	$246,216
Building minus stocks	$883,816

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$604,388
Minus 6% selling cost	−$36,263
Minus loan still owedTenants' rent paid down all $199,200 of principal by year 30	$0
Plus rental profits, invested at 7%$494,435 of profit by year 30, before investment growth	$1,177,368
What you'd walk away with	$1,745,493
If you put the same money in stocks
Cash to close ($57,270) invested at 7%	$435,954
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	$435,954
Building minus stocks	$1,309,539

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$604,388
Minus 6% selling cost	−$36,263
Minus loan still owedTenants' rent paid down all $199,200 of principal by year 30	$0
Plus rental profits, invested at 7%$332,635 of profit by year 30, before investment growth	$736,525
What you'd walk away with	$1,304,650
If you put the same money in stocks
Cash to close ($57,270) invested at 7%	$435,954
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	$435,954
Building minus stocks	$868,696

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $191,200 of principal by year 30	$0
Plus rental profits, invested at 7%$513,595 of profit by year 30, before investment growth	$1,237,700
What you'd walk away with	$1,783,008
If you put the same money in stocks
Cash to close ($54,970) invested at 7%	$418,446
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	$418,446
Building minus stocks	$1,364,562

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $191,200 of principal by year 30	$0
Plus rental profits, invested at 7%$351,795 of profit by year 30, before investment growth	$796,856
What you'd walk away with	$1,342,165
If you put the same money in stocks
Cash to close ($54,970) invested at 7%	$418,446
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	$418,446
Building minus stocks	$923,719

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$604,388
Minus 6% selling cost	−$36,263
Minus loan still owedTenants' rent paid down all $186,750 of principal by year 30	$0
Plus rental profits, invested at 7%$524,254 of profit by year 30, before investment growth	$1,271,259
What you'd walk away with	$1,839,384
If you put the same money in stocks
Cash to close ($69,720) invested at 7%	$530,726
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	$530,726
Building minus stocks	$1,308,658

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$604,388
Minus 6% selling cost	−$36,263
Minus loan still owedTenants' rent paid down all $186,750 of principal by year 30	$0
Plus rental profits, invested at 7%$362,453 of profit by year 30, before investment growth	$830,415
What you'd walk away with	$1,398,540
If you put the same money in stocks
Cash to close ($69,720) invested at 7%	$530,726
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	$530,726
Building minus stocks	$867,814

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $179,250 of principal by year 30	$0
Plus rental profits, invested at 7%$542,217 of profit by year 30, before investment growth	$1,327,819
What you'd walk away with	$1,873,128
If you put the same money in stocks
Cash to close ($66,920) invested at 7%	$509,412
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	$509,412
Building minus stocks	$1,363,716

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$580,116
Minus 6% selling cost	−$34,807
Minus loan still owedTenants' rent paid down all $179,250 of principal by year 30	$0
Plus rental profits, invested at 7%$380,417 of profit by year 30, before investment growth	$886,976
What you'd walk away with	$1,432,285
If you put the same money in stocks
Cash to close ($66,920) invested at 7%	$509,412
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	$509,412
Building minus stocks	$922,873

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 bath estimate $1,675/mo · range $1,475–$1,875

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
653 5th St E, Saint Paul 55106 off market	$1,808	3 / 1	1,555	0.6 mi	2026-04-09	98%
786 7th St E, Saint Paul 55106 off market	$1,599	3 / 1	1,300	0.7 mi	2026-06-22	96%
610 N Capitol Blvd, Unit 3, Saint Paul 55103	$1,650	3 / 1.5	1,600	1.0 mi	2026-10-02	95%
610 N Capitol Blvd, Saint Paul 55103 off market	$1,750	3 / 1.5	1,600	1.0 mi	2026-08-10	95%
1051 Arkwright St, Saint Paul 55130 off market	$1,795	3 / 1	1,200	0.7 mi	2026-03-04	94%
586 Reaney Ave E, Unit 586U2, Saint Paul 55130	$1,614	3 / 1	1,100	0.3 mi	2023-06-04	93%
222 Maple St, Apt 1, Saint Paul 55106 off market	$1,400	3 / 1	—	1.0 mi	2024-01-02	92%
880 Wilson Ave, Saint Paul 55106	$1,425	3 / 1	—	1.1 mi	2026-07-21	92%
691 Bedford St, Unit A, Saint Paul 55130	$2,052	3 / 1	1,050	0.2 mi	2025-09-24	92%
1199 Burr St, Saint Paul 55130 off market	$1,320	3 / 1	1,112	1.0 mi	2026-06-11	92%

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

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 322922220025: special assessments (payable 2026) = $432.50
lowSold for $425,000 in Oct 2025, more than today's asking price. Ask why the owner is selling again so soon. Public record: Ramsey County parcel 322922220025: last sale 2025-10-31, $425,000

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 186 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)	$4,550
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,398
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 1887: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1887
Market value (2026)	$223,900
Property tax, payable 2026	$4,550
Special assessments	$432
Homestead	no
Last sale	2025-10-31 · $425,000

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 2 Units: 2 unit(s), B, status renewal due, renews 2025-05-20.

Nearest highway

I 35E;US 10, about 709 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

2026-03-30New at $249,000