738 Magnolia Ave E

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

Overpriced

Needs more info before these numbers mean much. The city's rental certificate (CofO) covers 1 unit(s); this analysis counts 3.

Asking price: $420,000
Monthly cash flow: −$606
Estimated rent: $4,050/mo
Break-even price: $306,134

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

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: $420,000
Monthly cash flow: −$606
Cash to close: $96,600
Cap rate: 4.7%
Cash-on-cash: −7.5%
DSCR: 0.73×
GRM: 8.6
Price per unit: $140,000
Price that breaks even: $306,134
Rent that breaks even: $4,837/mo
Cash flow turns positive: year 14
Year 30: property vs stocks: $1.11M vs $1.02M

Monthly breakdown

Rent	$4,050
Vacancy (6%)	−$243
Collected	$3,807
Property tax Public record	−$851
Insurance Estimate	−$323
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$324
Capital reserve (9% of rent)	−$364
Net operating income	$1,629
Mortgage (principal + interest)	−$2,235
Cash flow	−$606
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 $1.11M, stocks $1.02M. The property wins.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,019,450
Minus 6% selling cost	−$61,167
Minus loan still owedTenants' rent paid down all $378,000 of principal by year 30	$0
Plus rental profits, invested at 7%$57,341 of profit by year 30, before investment growth	$73,579
What you'd walk away with	$1,031,862
If you put the same money in stocks
Cash to close ($54,600) invested at 7%	$415,629
Monthly shortfalls ($116,128 total by yr 30) investedThe money you'd have put into the building while it lost money	$599,968
What you'd walk away with	$1,015,597
Building minus stocks	$16,265

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,019,450
Minus 6% selling cost	−$61,167
Minus loan still owedTenants' rent paid down all $378,000 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	$958,283
If you put the same money in stocks
Cash to close ($54,600) invested at 7%	$415,629
Monthly shortfalls ($254,397 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,059,350
What you'd walk away with	$1,474,979
Building minus stocks	−$516,696

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$995,178
Minus 6% selling cost	−$59,711
Minus loan still owedTenants' rent paid down all $369,000 of principal by year 30	$0
Plus rental profits, invested at 7%$66,286 of profit by year 30, before investment growth	$87,160
What you'd walk away with	$1,022,627
If you put the same money in stocks
Cash to close ($53,300) invested at 7%	$405,733
Monthly shortfalls ($103,248 total by yr 30) investedThe money you'd have put into the building while it lost money	$543,937
What you'd walk away with	$949,670
Building minus stocks	$72,957

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$995,178
Minus 6% selling cost	−$59,711
Minus loan still owedTenants' rent paid down all $369,000 of principal by year 30	$0
Plus rental profits, invested at 7%$579 of profit by year 30, before investment growth	$579
What you'd walk away with	$936,046
If you put the same money in stocks
Cash to close ($53,300) invested at 7%	$405,733
Monthly shortfalls ($233,150 total by yr 30) investedThe money you'd have put into the building while it lost money	$990,316
What you'd walk away with	$1,396,049
Building minus stocks	−$460,003

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,019,450
Minus 6% selling cost	−$61,167
Minus loan still owedTenants' rent paid down all $336,000 of principal by year 30	$0
Plus rental profits, invested at 7%$105,354 of profit by year 30, before investment growth	$152,490
What you'd walk away with	$1,110,773
If you put the same money in stocks
Cash to close ($96,600) invested at 7%	$735,344
Monthly shortfalls ($52,208 total by yr 30) investedThe money you'd have put into the building while it lost money	$289,042
What you'd walk away with	$1,024,386
Building minus stocks	$86,387

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,019,450
Minus 6% selling cost	−$61,167
Minus loan still owedTenants' rent paid down all $336,000 of principal by year 30	$0
Plus rental profits, invested at 7%$9,788 of profit by year 30, before investment growth	$10,790
What you'd walk away with	$969,073
If you put the same money in stocks
Cash to close ($96,600) invested at 7%	$735,344
Monthly shortfalls ($152,251 total by yr 30) investedThe money you'd have put into the building while it lost money	$680,303
What you'd walk away with	$1,415,646
Building minus stocks	−$446,573

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$995,178
Minus 6% selling cost	−$59,711
Minus loan still owedTenants' rent paid down all $328,000 of principal by year 30	$0
Plus rental profits, invested at 7%$116,378 of profit by year 30, before investment growth	$172,713
What you'd walk away with	$1,108,180
If you put the same money in stocks
Cash to close ($94,300) invested at 7%	$717,836
Monthly shortfalls ($44,071 total by yr 30) investedThe money you'd have put into the building while it lost money	$248,934
What you'd walk away with	$966,770
Building minus stocks	$141,410

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$995,178
Minus 6% selling cost	−$59,711
Minus loan still owedTenants' rent paid down all $328,000 of principal by year 30	$0
Plus rental profits, invested at 7%$13,753 of profit by year 30, before investment growth	$15,558
What you'd walk away with	$951,025
If you put the same money in stocks
Cash to close ($94,300) invested at 7%	$717,836
Monthly shortfalls ($137,055 total by yr 30) investedThe money you'd have put into the building while it lost money	$624,739
What you'd walk away with	$1,342,575
Building minus stocks	−$391,550

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,019,450
Minus 6% selling cost	−$61,167
Minus loan still owedTenants' rent paid down all $315,000 of principal by year 30	$0
Plus rental profits, invested at 7%$135,623 of profit by year 30, before investment growth	$209,904
What you'd walk away with	$1,168,188
If you put the same money in stocks
Cash to close ($117,600) invested at 7%	$895,201
Monthly shortfalls ($32,180 total by yr 30) investedThe money you'd have put into the building while it lost money	$188,087
What you'd walk away with	$1,083,288
Building minus stocks	$84,900

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,019,450
Minus 6% selling cost	−$61,167
Minus loan still owedTenants' rent paid down all $315,000 of principal by year 30	$0
Plus rental profits, invested at 7%$21,625 of profit by year 30, before investment growth	$25,516
What you'd walk away with	$983,799
If you put the same money in stocks
Cash to close ($117,600) invested at 7%	$895,201
Monthly shortfalls ($113,791 total by yr 30) investedThe money you'd have put into the building while it lost money	$536,659
What you'd walk away with	$1,431,860
Building minus stocks	−$448,061

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$995,178
Minus 6% selling cost	−$59,711
Minus loan still owedTenants' rent paid down all $307,500 of principal by year 30	$0
Plus rental profits, invested at 7%$147,536 of profit by year 30, before investment growth	$234,223
What you'd walk away with	$1,169,690
If you put the same money in stocks
Cash to close ($114,800) invested at 7%	$873,887
Monthly shortfalls ($26,129 total by yr 30) investedThe money you'd have put into the building while it lost money	$155,846
What you'd walk away with	$1,029,732
Building minus stocks	$139,958

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$995,178
Minus 6% selling cost	−$59,711
Minus loan still owedTenants' rent paid down all $307,500 of principal by year 30	$0
Plus rental profits, invested at 7%$27,070 of profit by year 30, before investment growth	$32,791
What you'd walk away with	$968,258
If you put the same money in stocks
Cash to close ($114,800) invested at 7%	$873,887
Monthly shortfalls ($101,273 total by yr 30) investedThe money you'd have put into the building while it lost money	$487,374
What you'd walk away with	$1,361,261
Building minus stocks	−$393,003

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

highThe city's rental certificate (CofO) covers 1 unit(s); this analysis counts 3. Public record: St. Paul Certificate of Occupancy – Residential: 1073 WALSH ST, units=1
low$788 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 292922140034: special assessments (payable 2026) = $788.28

Opportunities

The seller bought for $137,000 in Jun 2015, so they can take a lower offer and still come out well ahead. Public record: Ramsey County parcel 292922140034: last sale 2015-06-29, $137,000

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)	$10,212
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,878
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 1906: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	two residences on one parcel
Living units	3
Year built	1906
Market value (2026)	$437,900
Property tax, payable 2026	$10,212
Special assessments	$788
Homestead	no
Last sale	2015-06-29 · $137,000

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 1 Unit: 1 unit(s), A, status pending, renews 2031-03-28.Residential 2 Units: 2 unit(s), A, status pending, renews 2031-06-20.

Nearest highway

I 35E;US 10, about 1490 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

2026-07-24New at $420,000