9 Acker St W · St. Paul, MN 55117

$289,900

5 bd · 2.0 ba · 1,840 sqft · MultiFamily public records · 62 Days on market

Built 1889 4,312 sqft lot

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.4/5.0
• 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 MLS

Due to fire Lower unit was completely renovated. New windows, carpets, fresh paints, kitchen completely remodeled with new cabinets and new appliances, upper unit fresh paints.

Key facts

• 4,312 sq ft lot
• Built 1889
• Listed 62 days

Property features AI

Finance

• Other: Property type: Residential income; Two total units (one 2-bedroom unit and one 3-bedroom unit); Total living area reported at 2,139 square feet; Main level finished area approximately 1,816; Below-grade finished area present
• HOA & community: No association amenities

Exterior

• Parking: Open gravel parking
• Utilities: City water connected; City sewer connected; Natural gas fuel; Electric service with circuit breakers
• Home design: Duplex (up-and-down configuration); Two stories; Above- and below-grade finished areas present
• Construction: Concrete construction materials; Block foundation; Roof under 8 years old
• Exterior features: Irregular lot with city street frontage; Lot dimensions approximately 40 x 108; Partial fence; Publicly maintained road access

Interior

• Kitchen: Unit 1: Cooktop, Microwave, Refrigerator, Stainless steel appliances; Unit 2: Cooktop, Dishwasher, Exhaust fan/hood, Microwave, Refrigerator
• Bedrooms: Total of 5 bedrooms (2 in one unit, 3 in the other)
• Bathrooms: 2 full bathrooms (one full bathroom in each unit)
• Heating & cooling: Forced air heating; Central cooling in both units
• Interior features: Two-level layout; Owner-occupied residential income duplex; Block foundation; Partial yard fencing
• Laundry & utility: In-unit laundry (washer and dryer in Unit 2; washer/dryer listing included for Unit 2 appliances)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $860/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $290k).
• Recommended offer: $273k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — 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 (+3.6%/yr); 170 active listings in the ZIP; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $4,781/mo this rent would consume 81% of the median local household income ($71k/yr) (locally 1588% 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 $9k 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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $81k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 32y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $272,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.65% ✓
• Cap rate: 13.41%
• Cash-on-cash: 25.42%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.6% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 1.81×
• Total profit: $65,555
• Equity at exit: $43,225

10-year hold

• IRR: 28.4%
• Equity multiple: 3.59×
• Total profit: $210,599
• Equity at exit: $25,065

Cash invested: $81,172 (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 55117

• Rents YoY: 3.6%
• Active inventory: 170
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $4,781 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$416 /mo · $4,996/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,004
• Net cashflow: $1,720

Break-even live

Break-even rent $2,604

Max offer price $289,900

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,780
Total (2 units)			$4,781

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Listing history 48 events

1. 2026-05-09
   status Pending
2. 2026-05-01
   historical Contingent - Inspection
3. 2026-04-30
   price $289,900
4. 2026-04-14
   price $299,900
5. 2026-03-18
   status Active
6. 2026-02-26
   status Pending
7. 2026-02-15
   listed Contingent - Inspection
8. 2026-02-15
   listed $310,000
9. 2021-04-23
   soldstatus $279,500
10. 2021-04-09
    soldstatus $264,500 Sold 176-char remark

    Show marketing remark (176 chars)

    Due to fire Lower unit was completely renovated. New windows, carpets, fresh paints, kitchen completely remodeled with new cabinets and new appliances, upper unit fresh paints.

11. 2021-03-16
    status Pending 176-char remark

    Show marketing remark (176 chars)

    Due to fire Lower unit was completely renovated. New windows, carpets, fresh paints, kitchen completely remodeled with new cabinets and new appliances, upper unit fresh paints.

12. 2021-02-27
    listed $239,000 Active 176-char remark

    Show marketing remark (176 chars)

    Due to fire Lower unit was completely renovated. New windows, carpets, fresh paints, kitchen completely remodeled with new cabinets and new appliances, upper unit fresh paints.

13. 2017-05-02
    soldstatus $135,000
14. 2017-04-28
    soldstatus $135,000 Sold 200-char remark

    Show marketing remark (200 chars)

    Solid investment property. Short distance to downtown and transportation. Both units currently rented. Unit #1 (3 bedroom)= $995/month. Unit #2( 2 bedroom) = $850/ month. Tenants pay gas and electric.

15. 2017-04-05
    status Pending 200-char remark

    Show marketing remark (200 chars)

    Solid investment property. Short distance to downtown and transportation. Both units currently rented. Unit #1 (3 bedroom)= $995/month. Unit #2( 2 bedroom) = $850/ month. Tenants pay gas and electric.

16. 2017-03-23
    historical Contingent - Inspection 200-char remark

    Show marketing remark (200 chars)

    Solid investment property. Short distance to downtown and transportation. Both units currently rented. Unit #1 (3 bedroom)= $995/month. Unit #2( 2 bedroom) = $850/ month. Tenants pay gas and electric.

17. 2017-03-13
    listed $129,900 Active 200-char remark

    Show marketing remark (200 chars)

    Solid investment property. Short distance to downtown and transportation. Both units currently rented. Unit #1 (3 bedroom)= $995/month. Unit #2( 2 bedroom) = $850/ month. Tenants pay gas and electric.

18. 2016-09-21
    historical
19. 2016-08-17
    price $124,900
20. 2016-05-25
    listed $129,900 Active
21. 2010-11-22
    soldstatus $1,023,000
22. 2008-12-29
    soldstatus $32,650
23. 2008-10-29
    historical
24. 2008-05-18
    listed $39,900
25. 2008-05-16
    historical
26. 2008-03-11
    listed $92,910
27. 2008-03-10
    historical
28. 2007-12-26
    listed $102,900
29. 2007-12-24
    historical
30. 2007-09-24
    listed $114,000
31. 2007-09-21
    historical
32. 2007-09-10
    listed $132,900
33. 2007-08-24
    historical
34. 2007-05-30
    listed $139,900
35. 2005-04-06
    soldstatus $199,900
36. 2005-03-29
    soldstatus $199,900
37. 2005-03-14
    historical
38. 2005-02-24
    listed $199,900
39. 1999-04-26
    soldstatus $72,500
40. 1999-02-23
    soldstatus $72,500
41. 1998-07-29
    soldstatus $35,000
42. 1998-04-03
    soldstatus $38,000
43. 1998-02-26
    historical
44. 1998-02-16
    listed $39,900
45. 1995-12-12
    soldstatus $55,000
46. 1995-07-27
    soldstatus $54,900
47. 1995-05-17
    historical
48. 1994-05-26
    listed $54,900

ⓘ 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: $4,996 · $416/mo
• Projected year-2 tax: $4,996 · $416/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: $57,372
• − Mortgage interest: −$16,239
• − Property taxes: −$4,996
• − Insurance: −$1,450
• − Repairs & maintenance: −$4,590
• − Management: −$4,590
• − Depreciation: −$8,433
• Taxable income: $17,075
• Est. tax owed @ 24.0%: −$4,098
• After-tax cash flow: $16,537/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): 44,697
• Household income: $70,771
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1588.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 44% Asian 24% Black 15% Hispanic / Latino 10% Two or more races 10%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 6% Romanian 3% Lithuanian 2%
• Foreign-born: 21% · Canada, Philippines, India
• Languages at home: 68% English-only · Other Asian/Pacific 15% Spanish 8% Other Indo-European 2%

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: ▼ -308.56%
• Current HPI: 267.4216
• Rent YoY: ▲ 3.60%
• 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

+428.1% since first listed

48 events — show timeline

• 2026-05-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Price Changed $289,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Price Changed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-18 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-15 Listed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-15 Listed $310,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-04-23 Sold (Public Records) $279,500 Public Records
• 2021-04-09 Sold (MLS) $264,500 NORTHSTARMLS as Distributed by MLS Grid
• 2021-03-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-02-27 Listed $239,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-02 Sold (Public Records) $135,000 Public Records
• 2017-04-28 Sold (MLS) $135,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-23 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-13 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-17 Price Changed $124,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-25 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-11-22 Sold (Public Records) $1,023,000 Public Records
• 2008-12-29 Sold (MLS) $32,650 NORTHSTARMLS as Distributed by MLS Grid
• 2008-10-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-05-18 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-05-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-11 Listed $92,910 NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-12-26 Listed $102,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-12-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-09-24 Listed $114,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-09-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-09-10 Listed $132,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-08-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-05-30 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-04-06 Sold (MLS) $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-03-29 Sold (Public Records) $199,900 Public Records
• 2005-03-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-02-24 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 1999-04-26 Sold (Public Records) $72,500 Public Records
• 1999-02-23 Sold (MLS) $72,500 NORTHSTARMLS as Distributed by MLS Grid
• 1998-07-29 Sold (Public Records) $35,000 Public Records
• 1998-04-03 Sold (MLS) $38,000 NORTHSTARMLS as Distributed by MLS Grid
• 1998-02-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1998-02-16 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 1995-12-12 Sold (Public Records) $55,000 Public Records
• 1995-07-27 Sold (MLS) $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 1995-05-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-05-26 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.3%/yr

Latest (2025): $4,996 · +19.5% YoY. Source: county tax records.