797 Iglehart Ave · St. Paul, MN 55104

$274,950

3 bd · 1.5 ba · 1,369 sqft · SingleFamily public records · 44 Days on market

Built 1905 5,270 sqft lot

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Why this score? — see what drove the C 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Key facts

• 5,270 sq ft lot
• Built 1905
• Listed 44 days

Property features AI

Exterior

• Parking: No designated parking
• Utilities: City water connected; City sewer connected; Natural gas; Electric service with circuit breakers
• Home design: Residential property; Two levels; Entry from main level
• Construction: Other construction materials; Asphalt roof; Foundation described as other with foundation dimensions approximately 29 x 24
• Exterior features: Deck and patio; Partial chain link fencing; Light tree coverage; Public transit within six blocks; City street with paved frontage and public maintenance

Interior

• Kitchen: Kitchen with range, refrigerator, and dishwasher
• Bedrooms: 3 bedrooms (two on the upper level, primary bedroom with full bath in upper level)
• Bathrooms: 1 full bathroom and 1 half bathroom; Full primary bath on upper level, additional full in basement
• Heating & cooling: Boiler heating; No central air
• Interior features: Dishwasher, Range, Refrigerator; Living/Dining room combination and separate formal dining room; Deck and patio access; Partially finished full basement
• Laundry & utility: Basement utilities (basement present)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $267k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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 (+2.5%/yr); 191 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $3,383/mo this rent would consume 54% of the median local household income ($76k/yr) (locally 2116% 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 $2k of loan paydown is wiped out by about $8k 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 44 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 4y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $164k; list at $275k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $266,701 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.88%
• DSCR: 1.44
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.5% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.93×
• Total profit: $-5,751
• Equity at exit: $40,996

10-year hold

• IRR: 7.2%
• Equity multiple: 1.53×
• Total profit: $40,636
• Equity at exit: $23,773

Cash invested: $76,986 (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 55104

• Rents YoY: 2.5%
• Active inventory: 191
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $3,383 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$482 /mo · $5,786/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$710
• Net cashflow: $634

Break-even live

Break-even rent $2,581

Max offer price $274,950

Occupancy floor 76%

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: $68,738
• Closing costs: $8,248
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
695 Grand Ave Saint Paul, MN	1.0–2.0	1.0–2.0	1130	$5,795	$5.13	18d	10	0.71mi
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$3,700	$3.53	2d	23	0.85mi

Listing history 50 events

1. 2026-06-18
   days on market $274,950 Active 44 DOM
2. 2026-06-17
   days on market $274,950 Active 43 DOM
3. 2026-06-16
   days on market $274,950 Active 42 DOM
4. 2026-06-15
   pricedays on market $274,950 Active 41 DOM
5. 2026-06-13
   days on market $299,950 Active 39 DOM
6. 2026-06-09
   days on market $299,950 Active 35 DOM
7. 2026-06-08
   days on market $299,950 Active 34 DOM
8. 2026-06-07
   days on market $299,950 Active 33 DOM
9. 2026-06-04
   days on market $299,950 Active 30 DOM
10. 2026-06-03
    days on market $299,950 Active 29 DOM
11. 2026-06-02
    days on market $299,950 Active 28 DOM
12. 2026-06-01
    days on market $299,950 Active 27 DOM
13. 2026-05-31
    days on market $299,950 Active 26 DOM
14. 2026-05-05
    listed $299,950 Active 1620-char remark
15. 2026-04-01
    historical
16. 2026-02-23
    price $264,950
17. 2026-01-13
    price $274,950
18. 2025-09-26
    listed $299,950 Active
19. 2025-09-26
    historical
20. 2025-09-11
    historical $3,325
21. 2025-09-08
    listed $3,325
22. 2025-09-08
    historical $3,325
23. 2025-08-13
    price $3,325
24. 2025-07-25
    listed $2,600
25. 2025-07-25
    historical $2,600
26. 2025-07-20
    listed $2,600
27. 2025-07-20
    historical $2,600
28. 2025-07-10
    price $2,600
29. 2025-07-07
    status Active
30. 2025-06-27
    price $2,200
31. 2025-06-19
    listed $2,660
32. 2024-04-24
    historical
33. 2024-04-24
    listed $380,000
34. 2024-04-12
    historical
35. 2024-03-24
    historical $2,000
36. 2024-03-14
    historical $2,000
37. 2024-03-13
    price $2,000
38. 2024-03-07
    price $329,900
39. 2024-02-27
    price $319,900
40. 2024-02-23
    price $1,900
41. 2024-02-12
    listed $2,400
42. 2024-02-08
    historical $2,400
43. 2024-02-06
    price $2,400
44. 2024-01-08
    listed $1,919
45. 2023-12-18
    price $1,919
46. 2023-11-27
    historical $2,000
47. 2023-11-14
    price $2,000
48. 2023-11-06
    price $2,260
49. 2023-11-02
    listed $2,460
50. 2023-10-25
    price $2,200

ⓘ 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: $5,786 · $482/mo
• Projected year-2 tax: $5,786 · $482/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: $40,592
• − Mortgage interest: −$15,401
• − Property taxes: −$5,786
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,247
• − Management: −$3,247
• − Depreciation: −$7,999
• Taxable income: $3,536
• Est. tax owed @ 24.0%: −$849
• After-tax cash flow: $6,756/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): 45,762
• Household income: $75,712
• Rent vs Own: 46.9% rent · 53.1% own
• Severe rent burden: 2116.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 60% Black 19% Two or more races 10% Asian 7% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 8% Romanian 3% Lithuanian 3%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 83% English-only · Spanish 4% Other Asian/Pacific 4% French/Haitian/Cajun 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: ▼ -532.26%
• Current HPI: 245.6146
• Rent YoY: ▲ 2.50%
• 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

+37.5% since first listed

53 events — show timeline

• 2026-06-14 Price Changed $274,950 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-05 Listed $299,950 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-23 Price Changed $264,950 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-13 Price Changed $274,950 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-26 Listed $299,950 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-26 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-11 Rental Removed $3,325 TURBOTENANT
• 2025-09-08 Listed for Rent $3,325 TURBOTENANT
• 2025-09-08 Rental Removed $3,325 Avail
• 2025-08-13 Price Changed $3,325 Avail
• 2025-07-25 Listed for Rent $2,600 Avail
• 2025-07-25 Rental Removed $2,600 TURBOTENANT
• 2025-07-20 Listed for Rent $2,600 TURBOTENANT
• 2025-07-20 Rental Removed $2,600 Avail
• 2025-07-10 Price Changed $2,600 Avail
• 2025-07-07 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-27 Price Changed $2,200 Avail
• 2025-06-19 Listed for Rent $2,660 Avail
• 2024-04-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-24 Listed $380,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-24 Rental Removed $2,000 APPFOLIO
• 2024-03-14 Rental Removed $2,000 RENT.
• 2024-03-13 Price Changed $2,000 APPFOLIO
• 2024-03-07 Price Changed $329,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-27 Price Changed $319,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-23 Price Changed $1,900 RENT.
• 2024-02-12 Listed for Rent $2,400 RENT.
• 2024-02-08 Rental Removed $2,400 RENT.
• 2024-02-06 Price Changed $2,400 RENT.
• 2024-01-08 Listed for Rent $1,919 RENT.
• 2023-12-18 Price Changed $1,919 APPFOLIO
• 2023-11-27 Rental Removed $2,000 RENT.
• 2023-11-14 Price Changed $2,000 APPFOLIO
• 2023-11-06 Price Changed $2,260 RENT.
• 2023-11-02 Listed for Rent $2,460 RENT.
• 2023-10-25 Price Changed $2,200 APPFOLIO
• 2023-10-12 Price Changed $340,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-11 Listed for Rent $2,660 APPFOLIO
• 2023-08-15 Price Changed $351,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-11 Price Changed $361,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-15 Price Changed $362,500 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-05 Price Changed $368,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-22 Listed $375,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-04-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-17 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-05 Price Changed $360,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-22 Listed $380,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-15 Sold (MLS) $164,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-11 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-10 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.4%/yr

Latest (2025): $5,786 · +55.7% YoY. Source: county tax records.