# 661 Payne Avenue, Saint Paul, MN 55130

> **TL;DR:** 4bd/0ba other, $499,999 ($192/sqft), built 1884, 2,600 sqft. Est. $2,167/mo. Listed 3 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $499,999 |
| Price/sqft | $192 |
| Bedrooms | 4 |
| Square Feet | 2,600 |
| Year Built | 1884 |
| Lot Size | 5,227 sqft (0.12 acres) |
| Property Type | Other (Other) |
| Status | For Sale |
| Days on Market | 3 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $2,167 |
| **Total** | **$2,167** |

## Property Highlights

- Built in 1884
- 0.12 acre lot

## Description

### Agent Description
A strong investment opportunity in one of Saint Paul’s high-demand rental corridors. This newly renovated
4-unit mixed-use property sits on a rare double lot and offers excellent cash flow potential with
additional upside through below-market rents. The property is Section 8 approved and enrolled in the City of Saint Paul’s 4-D Affordable Housing Program, providing valuable property tax reductions and long-term affordability incentives.

The asset features a versatile mixed-use zoning configuration that includes both a commercial garage
space and a traditional residential garage, creating flexibility for owner-operators, small businesses,
contractors, storage income, workshop use, or additional tenant amenities. Investors also have the option to maintain the property as a fully residential income-producing asset.

The building has undergone substantial renovations and stabilization, making it a turnkey opportunity for
investors seeking immediate cash flow with long-term appreciation potential. Spacious units, strong
rental demand, and flexible lease structures provide multiple operational strategies for future
ownership.

The oversized lot includes a shared backyard with patio space, green space, and garden potential, adding lifestyle appeal for tenants. Located along the vibrant Payne Avenue corridor, the property is walkable to neighborhood staples including Yarusso Bros, Minnesota Music Cafe, local restaurants, retail, parks, and the Bruce Vento Regional Trail.

Motivated seller. Excellent opportunity for investors seeking a stabilized multifamily asset with
mixed-use flexibility, tax advantages, and future upside in a rapidly improving East Saint Paul market.

## Location

- **Address:** 661 Payne Avenue, Saint Paul, MN 55130
- **County:** Ramsey-MN
- **Neighborhood:** Phillips Add
- **Coordinates:** 44.961419, -93.076597
- **Google Maps:** https://www.google.com/maps?q=44.961419,-93.076597

## Listing Agent

- **Name:** Hosie
- **Brokerage:** Keller Williams Realty Integrity Lakes
- **Phone:** 6127091875
- **Email:** hosie@kw.com

## Primary Photo

![661 Payne Avenue - Primary Photo](http://lh.rdcpix.com/cd7d7d253682871c177be8039027bf7el-f1640806045r.jpg)

*7 total photos available on [listing page](https://www.propertysimple.com/listing/661-payne-avenue-saint-paul-mn-55130-7068786)*

---

**MLS#:** 7068786 | **Updated:** 2026-06-18
**Source:** listhub

*Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/661-payne-avenue-saint-paul-mn-55130-7068786)

---

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