549 Selby Ave · St. Paul, MN 55102

$574,750

6 bd · 2.0 ba · 2,184 sqft · MultiFamily public records · 34 Days on market

Built 1888 5,793 sqft lot

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Exceptional investment opportunity in one of St Pauls most iconic and sought-after neighborhoods. Located along the premier stretch of Selby Avenue in Cathedral Hill, this duplex offers immediate cash flow potential combined with long-term redevelopment upside in one of the citys highest-demand urban corridors. The surrounding neighborhood features walkable access to cafes, restaurants, bars, boutique shopping, the Blair Arcade district, public transportation, and some of St Pauls most recognizable historic streetscapes. Demand for housing in this area remains consistently strong due to the neighborhoods unique blend of historic character, urban walkability, and proximity to downtown St Pau

Key facts

• 5,793 sq ft lot
• 2 garage spots
• Built 1888

Property features AI

Finance

• Other: Lot measures approximately 50 x 165 on a 0.133-acre parcel; Publicly maintained road access
• Financial info: Two-unit property; Owner-reported gross income of $43,548; Owner pays electricity, gas, trash collection and water; Tenants pay electricity and gas
• HOA & community: No association amenities

Exterior

• Parking: Asphalt parking areas and shared driveway; Two-car garage
• Security: Security details not specified
• Utilities: City water connected; City sewer connected; Electric service with circuit breakers; Fuel: electric and natural gas
• Home design: Residential income property; Duplex (up and down); Modified two-story with main entry level and upper unit
• Construction: Constructed with block, concrete and frame materials; Block and concrete perimeter foundation; Foundation dimensions approximately 38.5 x 35.5; Foundation area listed
• Exterior features: Stucco exterior; Pitched asphalt roof (age over 8 years); City street frontage with curbs

Interior

• Kitchen: Each unit includes a gas range and refrigerator; Each unit has a gas water heater
• Bedrooms: Six total bedrooms (distributed across two units)
• Flooring: Flooring details not specified
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating; No central cooling (units listed as having no cooling)
• Interior features: Finished basement with egress windows and single-tenant access; Unfinished basement areas; 36+ inch doors for accessibility; Modified two-story layout
• Laundry & utility: Washer/dryer locations not specified

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $725 ($9k/yr) — positive. Per door: $363/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $575k).
• Recommended offer: $558k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• St. Paul Public School District (urban): math 21% / reading 33% proficiency, ranked #270 of 301 in MN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.6%/yr); 145 active listings in the ZIP; solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $5,936/mo this rent would consume 93% of the median local household income ($76k/yr) (locally 1116% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.
• Ramsey County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($558k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $557,507 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 7.81%
• Cash-on-cash: 5.41%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-55,105
• Equity at exit: $85,697

10-year hold

• IRR: -2.1%
• Equity multiple: 0.87×
• Total profit: $-21,063
• Equity at exit: $49,694

Cash invested: $160,930 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 55102

• Rents YoY: 1.6%
• Active inventory: 145
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $5,936 high
• Mortgage (P&I): −$3,014
• Tax from tax record: −$711 /mo · $8,528/yr
• Insurance: −$239
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,247
• Net cashflow: $725

Break-even live

Break-even rent $5,018

Max offer price $574,750

Occupancy floor 83%

Sensitivity live

Price	-10% $1,051	-5% $888	+0% $725	+5% $563	+10% $400
Rent	-10% $256	-5% $491	+0% $725	+5% $960	+10% $1,194
Rate	-1.0pp $1,015	-0.5pp $871	base $725	+0.5pp $576	+1.0pp $425

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$5,936
Total (2 units)			$5,936

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $143,688
• Closing costs: $17,242
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $574,750 Active 34 DOM
2. 2026-06-17
   days on market $574,750 Active 33 DOM
3. 2026-06-16
   days on market $574,750 Active 32 DOM
4. 2026-06-15
   days on market $574,750 Active 31 DOM
5. 2026-06-13
   days on market $574,750 Active 29 DOM
6. 2026-06-09
   days on market $574,750 Active 25 DOM
7. 2026-06-08
   days on market $574,750 Active 24 DOM
8. 2026-06-07
   days on market $574,750 Active 23 DOM
9. 2026-06-04
   days on market $574,750 Active 20 DOM
10. 2026-06-03
    days on market $574,750 Active 19 DOM
11. 2026-06-02
    days on market $574,750 Active 18 DOM
12. 2026-06-01
    days on market $574,750 Active 17 DOM
13. 2026-05-31
    days on market $574,750 Active 16 DOM
14. 2026-05-16
    listed $574,750 Active 1113-char remark
15. 2026-05-15
    historical $574,750 1113-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $8,528 · $711/mo
• Projected year-2 tax: $8,528 · $711/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,232
• − Mortgage interest: −$32,195
• − Property taxes: −$8,528
• − Insurance: −$2,874
• − Repairs & maintenance: −$5,699
• − Management: −$5,699
• − Depreciation: −$16,720
• Taxable loss: −$482
• Est. tax savings @ 24.0%: +$116
• After-tax cash flow: $8,819/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: St. Paul Public School District
• NCES district ID: 2733840
• Math proficiency: 21% ▼ -11.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $48,316
• Composite: 23.51/100
• National rank: #7868
• State rank: #270 of 301 in MN

Livability — St. Paul

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Paul, MN
• County: Ramsey County · 542,837 people
• City population: 280,599
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 19,630
• Household income: $76,406
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1116.0

Population outlook (Ramsey County) Hauer SSP2

• Today (2025): 603,431 people
• By 2030: 636,459 · +5.5%
• By 2040: 700,596 · +16.1%
• By 2050: 765,819 · +26.9%
• By 2075: 929,297 · +54.0%
• By 2100: 1,053,924 · +74.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Lithuanian 5% Romanian 3%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 4% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Ramsey

• 2024 margin: Solid D (+43.3) · D 70.5% · R 27.2% · Other 2.3%
• 2008→2024 swing: +9.4pp toward D · 2008: 33.9pp · 2024: 43.3pp
• All cycles: 2024: D+43.3 2020: D+45.4 2016: D+39.4 2012: D+35.3 2008: D+33.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -217.83%
• Current HPI: 241.7112
• Rent YoY: ▲ 1.60%
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

Industry mix (Fortune 500 HQ in MN)

Industry	F500 HQs	Revenue
▸Healthcare	2	$407B
▸Retail	2	$150B
▸Consumer Goods	2	$32B
▸Industrial Machinery	2	$6B
▸Agriculture	1	$40B
▸Healthcare / Medical Devices	1	$32B

Price history

+0.0% since first listed

2 events — show timeline

• 2026-05-16 Listed $574,750 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Coming Soon $574,750 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2025): $8,528 · +1.3% YoY. Source: county tax records.