St. Paul › Summit Hill

846 Lincoln Ave

Saint Paul, MN · Summit Hill (Grand Avenue) · Listing office ↗ · Find the listing ↗

Far off

Asking price: $900,000
Monthly cash flow: −$3,585
Estimated rent: $4,050/mo
Break-even price: $226,498

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 / 1.5 bath (est.)$1,350 $1,150–$1,550
2 bed / 1.5 bath (est.)$1,350 $1,150–$1,550
2 bed / 1.5 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: $900,000
Monthly cash flow: −$3,585
Cash to close: $207,000
Cap rate: 1.6%
Cash-on-cash: −20.8%
DSCR: 0.25×
GRM: 18.5
Price per unit: $300,000
Price that breaks even: $226,498
Rent that breaks even: $8,705/mo
Cash flow turns positive: not within 30 years
Year 30: property vs stocks: $2.05M vs $5.31M

Monthly breakdown

Rent	$4,050
Vacancy (6%)	−$243
Collected	$3,807
Property tax Estimate	−$1,262
Insurance Estimate	−$336
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	$1,206
Mortgage (principal + interest)	−$4,790
Cash flow	−$3,585
Principal paid down (equity, not cash)	$609

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 $2.05M, stocks $5.31M. Stocks win.

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $810,000 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	$2,053,464
If you put the same money in stocks
Cash to close ($117,000) invested at 7%	$890,634
Monthly shortfalls ($1,368,994 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,566,157
What you'd walk away with	$5,456,791
Building minus stocks	−$3,403,327

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $810,000 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	$2,053,464
If you put the same money in stocks
Cash to close ($117,000) invested at 7%	$890,634
Monthly shortfalls ($1,564,603 total by yr 30) investedThe money you'd have put into the building while it lost money	$5,099,117
What you'd walk away with	$5,989,751
Building minus stocks	−$3,936,287

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $801,000 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	$2,030,648
If you put the same money in stocks
Cash to close ($115,700) invested at 7%	$880,738
Monthly shortfalls ($1,347,168 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,496,544
What you'd walk away with	$5,377,282
Building minus stocks	−$3,346,634

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $801,000 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	$2,030,648
If you put the same money in stocks
Cash to close ($115,700) invested at 7%	$880,738
Monthly shortfalls ($1,542,777 total by yr 30) investedThe money you'd have put into the building while it lost money	$5,029,504
What you'd walk away with	$5,910,242
Building minus stocks	−$3,879,594

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $720,000 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	$2,053,464
If you put the same money in stocks
Cash to close ($207,000) invested at 7%	$1,575,737
Monthly shortfalls ($1,129,136 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,730,791
What you'd walk away with	$5,306,528
Building minus stocks	−$3,253,064

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $720,000 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	$2,053,464
If you put the same money in stocks
Cash to close ($207,000) invested at 7%	$1,575,737
Monthly shortfalls ($1,324,745 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,263,751
What you'd walk away with	$5,839,488
Building minus stocks	−$3,786,024

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $712,000 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	$2,030,648
If you put the same money in stocks
Cash to close ($204,700) invested at 7%	$1,558,229
Monthly shortfalls ($1,109,975 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,670,460
What you'd walk away with	$5,228,689
Building minus stocks	−$3,198,041

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $712,000 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	$2,030,648
If you put the same money in stocks
Cash to close ($204,700) invested at 7%	$1,558,229
Monthly shortfalls ($1,305,584 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,203,420
What you'd walk away with	$5,761,649
Building minus stocks	−$3,731,001

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $675,000 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	$2,053,464
If you put the same money in stocks
Cash to close ($252,000) invested at 7%	$1,918,288
Monthly shortfalls ($1,021,357 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,391,428
What you'd walk away with	$5,309,717
Building minus stocks	−$3,256,253

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,184,536
Minus 6% selling cost	−$131,072
Minus loan still owedTenants' rent paid down all $675,000 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	$2,053,464
If you put the same money in stocks
Cash to close ($252,000) invested at 7%	$1,918,288
Monthly shortfalls ($1,216,966 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,924,388
What you'd walk away with	$5,842,677
Building minus stocks	−$3,789,213

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $667,500 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	$2,030,648
If you put the same money in stocks
Cash to close ($249,200) invested at 7%	$1,896,974
Monthly shortfalls ($1,003,394 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,334,868
What you'd walk away with	$5,231,842
Building minus stocks	−$3,201,194

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$2,160,264
Minus 6% selling cost	−$129,616
Minus loan still owedTenants' rent paid down all $667,500 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	$2,030,648
If you put the same money in stocks
Cash to close ($249,200) invested at 7%	$1,896,974
Monthly shortfalls ($1,199,003 total by yr 30) investedThe money you'd have put into the building while it lost money	$3,867,828
What you'd walk away with	$5,764,802
Building minus stocks	−$3,734,154

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

mediumThe seller is homesteaded, so the current tax bill is lower than what an investor will pay. We use an estimated non-homestead tax instead. Public record: Ramsey County parcel 022823420274: homestead=Y
mediumAsking is $673,502 above the price where cash flow breaks even ($226,498) at the default scenario. Based on: Derived: price $900,000 vs. break-even $226,498
low$649 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 022823420274: special assessments (payable 2026) = $648.76

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 210 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 Estimateestimate. Seller is homesteaded; an investor pays the non-homestead rate. $721,900 market value × 2.10% (median for non-homestead duplexes/triplexes in the city).	$15,141
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,035
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 1880: +1 pt capital reserve	8% / 9%

County record Public record

Recorded as	three family dwelling, platted lot
Living units	3
Year built	1880
Market value (2026)	$721,900
Property tax, payable 2026	$13,705
Special assessments	$649
Homestead	yes
Last sale	—

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 3+ Units: 3 unit(s), B, status renewal due, renews 2024-08-11.

Nearest highway

I 35E, about 773 m away.

Crime in Summit Hill

237 incidents in the last 12 months (35 per 1,000 residents), −13% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.

Status history

2026-03-06New at $900,000