936 Westminster St

Saint Paul, MN · Payne – Phalen (Railroad Island) · View the listing ↗

Overpriced

15 photos

Photos, via Realtor.com.

Asking price: $340,000
Monthly cash flow: −$623
Estimated rent: $2,700/mo
Break-even price: $222,916

Adjust the numbers See the full breakdown

The numbers

Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price: $340,000
Cash to close: $78,200
Price per unit: $170,000
GRM: 10.5

Each month

Cash flow: −$623/mo
Cash-on-cash: −9.6%
Cap rate: 4.2%
DSCR: 0.66×

Break-even

Price that breaks even: $222,916
Rent that breaks even: $3,509/mo

Long run

Year 30: property vs stocks: $844K vs $952K
Cash flow turns positive: year 18

Monthly

Monthly breakdown

Rent	$2,700
Vacancy (6%)	−$162
Collected	$2,538
Property tax Public record	−$453
Insurance Estimate	−$210
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	$1,186
Mortgage (principal + interest)	−$1,810
Cash flow	−$623
Principal paid down (equity, not cash)	$230

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

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $306,000 of principal by year 30	$0
Plus rental profits, invested at 7%$22,993 of profit by year 30, before investment growth	$27,020
What you'd walk away with	$802,773
If you put the same money in stocks
Cash to close ($44,200) invested at 7%	$336,462
Monthly shortfalls ($131,067 total by yr 30) investedThe money you'd have put into the building while it lost money	$630,533
What you'd walk away with	$966,995
Building minus stocks	−$164,222

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $306,000 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	$775,753
If you put the same money in stocks
Cash to close ($44,200) invested at 7%	$336,462
Monthly shortfalls ($238,480 total by yr 30) investedThe money you'd have put into the building while it lost money	$958,820
What you'd walk away with	$1,295,281
Building minus stocks	−$519,528

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,997
Minus 6% selling cost	−$48,060
Minus loan still owedTenants' rent paid down all $297,000 of principal by year 30	$0
Plus rental profits, invested at 7%$29,419 of profit by year 30, before investment growth	$35,560
What you'd walk away with	$788,497
If you put the same money in stocks
Cash to close ($42,900) invested at 7%	$326,566
Monthly shortfalls ($115,667 total by yr 30) investedThe money you'd have put into the building while it lost money	$569,460
What you'd walk away with	$896,026
Building minus stocks	−$107,529

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,997
Minus 6% selling cost	−$48,060
Minus loan still owedTenants' rent paid down all $297,000 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	$752,937
If you put the same money in stocks
Cash to close ($42,900) invested at 7%	$326,566
Monthly shortfalls ($216,654 total by yr 30) investedThe money you'd have put into the building while it lost money	$889,207
What you'd walk away with	$1,215,772
Building minus stocks	−$462,835

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $272,000 of principal by year 30	$0
Plus rental profits, invested at 7%$51,978 of profit by year 30, before investment growth	$68,454
What you'd walk away with	$844,207
If you put the same money in stocks
Cash to close ($78,200) invested at 7%	$595,278
Monthly shortfalls ($69,439 total by yr 30) investedThe money you'd have put into the building while it lost money	$356,384
What you'd walk away with	$951,663
Building minus stocks	−$107,456

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $272,000 of principal by year 30	$0
Plus rental profits, invested at 7%$3,098 of profit by year 30, before investment growth	$3,242
What you'd walk away with	$778,995
If you put the same money in stocks
Cash to close ($78,200) invested at 7%	$595,278
Monthly shortfalls ($150,965 total by yr 30) investedThe money you'd have put into the building while it lost money	$646,479
What you'd walk away with	$1,241,758
Building minus stocks	−$462,763

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,997
Minus 6% selling cost	−$48,060
Minus loan still owedTenants' rent paid down all $264,000 of principal by year 30	$0
Plus rental profits, invested at 7%$60,666 of profit by year 30, before investment growth	$82,247
What you'd walk away with	$835,184
If you put the same money in stocks
Cash to close ($75,900) invested at 7%	$577,770
Monthly shortfalls ($58,966 total by yr 30) investedThe money you'd have put into the building while it lost money	$309,846
What you'd walk away with	$887,616
Building minus stocks	−$52,432

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,997
Minus 6% selling cost	−$48,060
Minus loan still owedTenants' rent paid down all $264,000 of principal by year 30	$0
Plus rental profits, invested at 7%$5,739 of profit by year 30, before investment growth	$6,193
What you'd walk away with	$759,130
If you put the same money in stocks
Cash to close ($75,900) invested at 7%	$577,770
Monthly shortfalls ($134,445 total by yr 30) investedThe money you'd have put into the building while it lost money	$589,099
What you'd walk away with	$1,166,869
Building minus stocks	−$407,739

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $255,000 of principal by year 30	$0
Plus rental profits, invested at 7%$71,332 of profit by year 30, before investment growth	$100,022
What you'd walk away with	$875,775
If you put the same money in stocks
Cash to close ($95,200) invested at 7%	$724,687
Monthly shortfalls ($48,077 total by yr 30) investedThe money you'd have put into the building while it lost money	$259,748
What you'd walk away with	$984,435
Building minus stocks	−$108,660

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,269
Minus 6% selling cost	−$49,516
Minus loan still owedTenants' rent paid down all $255,000 of principal by year 30	$0
Plus rental profits, invested at 7%$9,660 of profit by year 30, before investment growth	$10,785
What you'd walk away with	$786,538
If you put the same money in stocks
Cash to close ($95,200) invested at 7%	$724,687
Monthly shortfalls ($116,810 total by yr 30) investedThe money you'd have put into the building while it lost money	$525,818
What you'd walk away with	$1,250,505
Building minus stocks	−$463,967

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,997
Minus 6% selling cost	−$48,060
Minus loan still owedTenants' rent paid down all $247,500 of principal by year 30	$0
Plus rental profits, invested at 7%$81,039 of profit by year 30, before investment growth	$117,094
What you'd walk away with	$870,031
If you put the same money in stocks
Cash to close ($92,400) invested at 7%	$703,372
Monthly shortfalls ($39,820 total by yr 30) investedThe money you'd have put into the building while it lost money	$220,260
What you'd walk away with	$923,632
Building minus stocks	−$53,601

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$800,997
Minus 6% selling cost	−$48,060
Minus loan still owedTenants' rent paid down all $247,500 of principal by year 30	$0
Plus rental profits, invested at 7%$13,691 of profit by year 30, before investment growth	$15,727
What you'd walk away with	$768,664
If you put the same money in stocks
Cash to close ($92,400) invested at 7%	$703,372
Monthly shortfalls ($102,879 total by yr 30) investedThe money you'd have put into the building while it lost money	$474,200
What you'd walk away with	$1,177,572
Building minus stocks	−$408,908

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.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $844K, stocks $952K. Stocks win.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-04. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

2 bed estimate $1,350/mo · range $1,025–$1,450 · 9 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
953 Desoto St, Saint Paul	$950	2 / 1	650	0.2 mi	2026-02-12	Apartment
1039-1041 Arkwright St, Saint Paul	$1,445	2 / 1	1,100	0.2 mi	2026-09-19	Apartment
904-906 Burr St, Saint Paul	$999	2 / 1	900	0.3 mi	2025-01-11	Apartment
685 Burr St, Saint Paul	$1,450	2 / 1	750	0.6 mi	2026-04-08	Apartment
1205 Westminster St, Saint Paul	$1,120	2 / 1	710	0.6 mi	2025-01-03	Apartment
468 Beaumont St E Unit 4, Saint Paul	$1,350	2 / 1	800	0.6 mi	2026-07-10	Apartment
650 Aguirre St, Saint Paul	$1,719	2 / 2	1,028	0.6 mi	2025-05-28	Apartment
665 Bedford St Unit 2, Saint Paul	$1,400	2 / 1	800	0.7 mi	2023-12-20	Duplex triplex
1280 Westminster St, Saint Paul	$1,042	2 / 1	850	0.7 mi	2026-03-03	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

mediumNo rental certificate (CofO) on file in the city's data. Ask whether the building is licensed as a rental and when it was last inspected. Public record: St. Paul Certificate of Occupancy – Residential: no record for 936 WESTMINSTER ST (dataset last updated mid-2025)
medium$1,628 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 292922320107: special assessments (payable 2026) = $1,627.68
mediumAsking is $117,084 above the price where cash flow breaks even ($222,916) at the default scenario. Based on: Derived: price $340,000 vs. break-even $222,916

Opportunities

The seller bought for $68,000 in May 2022, so they can take a lower offer and still come out well ahead. Public record: Ramsey County parcel 292922320107: last sale 2022-05-13, $68,000

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)	$5,434
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,516
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 1883: +1 pt capital reserve	8% / 9%

Status history

2026-10-02New at $340,000

County record Public record

Recorded as	two family dwelling - up/dwn
Living units	2
Year built	1883
Market value (2026)	$304,500
Property tax, payable 2026	$5,434
Special assessments	$1,628
Homestead	no
Last sale	2022-05-13 · $68,000

Source: Ramsey County parcel records.

City rental certificate (CofO)

No record in St. Paul Certificate of Occupancy – Residential (dataset last updated mid-2025).

Nearest highway

I 35E;US 10, about 265 m away.

Crime in Payne – Phalen

1,695 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.