1517 Portland Ave · St. Paul, MN 55104

$925,000

8 bd · 4.0 ba · 6,948 sqft · MultiFamily public records · 34 Days on market

Built 1915 6,969 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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

BACK ON THE MARKET, buyer's financing feel through last minute. Beautifully maintained 4-plex in super location! Walk to many colleges or places to eat! All units are 2 beds, 1 Bath, 1 den, full of natural light. Many updates completed over the years, newer windows throughout, some new appliances, woodwork and floors maintained, and some baths modernized. Roof is a built up, in great condition. 4 car garage, included in rent payment at $100/month. 4 sets of washer and dryers. 2 boilers, 1 water heater. Tenants pay all utilities through rent. 3/4 units rented at $1448, $1448, $1348/ month, the 3 leased are month to month. The vacant unit's market rent is $1700+utilities+garage rent. Incredible opportunity to owner occupy or add to your portfolio!

Key facts

• Brick charm
• Dedicated den
• Newer windows

Tags

• BRICK CHARM
• DEDICATED DEN
• NEWER WINDOWS
• DETACHED ONE CAR GARAGES
• PRIME SAINT PAUL LOCATION

Property features AI

Finance

• Other: Property is not owner-occupied; Four total dwelling units with shared rooms listed as other
• Financial info: Owner pays common area maintenance, gas, grounds care, heat, HVAC maintenance, insurance, repairs, sewer, taxes, trash collection and water; Gross income reported; Tenant pays cable TV, electricity and gas
• HOA & community: Building amenities include laundry and lobby entrance

Exterior

• Parking: Assigned parking; Multiple garages; Concrete surfaces; 4 garage spaces
• Utilities: City water (in street); City sewer (in street); Natural gas fuel; Circuit breaker electrical service (Xcel Energy)
• Home design: Residential income property (duplex other); Two levels; Level topography
• Construction: Block and brick construction; Block foundation; Flat, pitched, rubber and tar/gravel roofing; Built with above-grade finished area totaling 4,320
• Exterior features: Stone exterior; No pool; No fencing; Public transit within six blocks; Medium tree coverage; City street frontage with curbs, paved streets, sidewalks, street lights and storm sewer

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 8 total bedrooms; Main-floor primary bedrooms in units
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Full bathrooms in each unit
• Heating & cooling: Boiler heating; Window cooling units in each unit
• Interior features: Unfinished basement with block construction, owner access and storage space; Sun room; Natural woodwork
• Laundry & utility: Common area laundry room; Laundry in basement; Electric and gas dryer hookups

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $925k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $465/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $925k).
• Recommended offer: $897k (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; solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $10,488/mo this rent would consume 166% 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 $6k of loan paydown is wiped out by about $28k 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 ($897k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $740k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $897,250 (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 1915 — 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. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.62%
• DSCR: 1.38
• GRM: 7.3

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: -3.8%
• Equity multiple: 0.86×
• Total profit: $-36,468
• Equity at exit: $137,921

10-year hold

• IRR: 5.4%
• Equity multiple: 1.39×
• Total profit: $100,221
• Equity at exit: $79,977

Cash invested: $259,000 (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: 29.4×

Monthly cashflow live

• Estimated rent: $10,488 medium
• Mortgage (P&I): −$4,851
• Tax from tax record: −$1,189 /mo · $14,266/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,202
• Net cashflow: $1,860

Break-even live

Break-even rent $8,133

Max offer price $925,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$10,488
Total (4 units)			$10,488

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: $231,250
• Closing costs: $27,750
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $925,000 Active 34 DOM
2. 2026-06-17
   days on market $925,000 Active 33 DOM
3. 2026-06-16
   days on market $925,000 Active 32 DOM
4. 2026-06-15
   days on market $925,000 Active 31 DOM
5. 2026-06-13
   days on market $925,000 Active 29 DOM
6. 2026-06-09
   days on market $925,000 Active 25 DOM
7. 2026-06-08
   days on market $925,000 Active 24 DOM
8. 2026-06-07
   days on market $925,000 Active 23 DOM
9. 2026-06-04
   days on market $925,000 Active 20 DOM
10. 2026-06-03
    days on market $925,000 Active 19 DOM
11. 2026-06-02
    days on market $925,000 Active 18 DOM
12. 2026-06-01
    days on market $925,000 Active 17 DOM
13. 2026-05-31
    days on market $925,000 Active 16 DOM
14. 2026-05-15
    listed $925,000 Active 792-char remark
15. 2022-10-14
    soldstatus $740,000
16. 2022-09-30
    soldstatus $740,000 Sold 757-char remark

    Show marketing remark (757 chars)

    BACK ON THE MARKET, buyer's financing feel through last minute. Beautifully maintained 4-plex in super location! Walk to many colleges or places to eat! All units are 2 beds, 1 Bath, 1 den, full of natural light. Many updates completed over the years, newer windows throughout, some new appliances, woodwork and floors maintained, and some baths modernized. Roof is a built up, in great condition. 4 car garage, included in rent payment at $100/month. 4 sets of washer and dryers. 2 boilers, 1 water heater. Tenants pay all utilities through rent. 3/4 units rented at $1448, $1448, $1348/ month, the 3 leased are month to month. The vacant unit's market rent is $1700+utilities+garage rent. Incredible opportunity to owner occupy or add to your portfolio!

17. 2022-08-30
    status Pending 757-char remark

    Show marketing remark (757 chars)

    BACK ON THE MARKET, buyer's financing feel through last minute. Beautifully maintained 4-plex in super location! Walk to many colleges or places to eat! All units are 2 beds, 1 Bath, 1 den, full of natural light. Many updates completed over the years, newer windows throughout, some new appliances, woodwork and floors maintained, and some baths modernized. Roof is a built up, in great condition. 4 car garage, included in rent payment at $100/month. 4 sets of washer and dryers. 2 boilers, 1 water heater. Tenants pay all utilities through rent. 3/4 units rented at $1448, $1448, $1348/ month, the 3 leased are month to month. The vacant unit's market rent is $1700+utilities+garage rent. Incredible opportunity to owner occupy or add to your portfolio!

18. 2022-08-17
    historical Contingent - Inspection 757-char remark

    Show marketing remark (757 chars)

    BACK ON THE MARKET, buyer's financing feel through last minute. Beautifully maintained 4-plex in super location! Walk to many colleges or places to eat! All units are 2 beds, 1 Bath, 1 den, full of natural light. Many updates completed over the years, newer windows throughout, some new appliances, woodwork and floors maintained, and some baths modernized. Roof is a built up, in great condition. 4 car garage, included in rent payment at $100/month. 4 sets of washer and dryers. 2 boilers, 1 water heater. Tenants pay all utilities through rent. 3/4 units rented at $1448, $1448, $1348/ month, the 3 leased are month to month. The vacant unit's market rent is $1700+utilities+garage rent. Incredible opportunity to owner occupy or add to your portfolio!

19. 2022-08-12
    status Active 757-char remark

    Show marketing remark (757 chars)

    BACK ON THE MARKET, buyer's financing feel through last minute. Beautifully maintained 4-plex in super location! Walk to many colleges or places to eat! All units are 2 beds, 1 Bath, 1 den, full of natural light. Many updates completed over the years, newer windows throughout, some new appliances, woodwork and floors maintained, and some baths modernized. Roof is a built up, in great condition. 4 car garage, included in rent payment at $100/month. 4 sets of washer and dryers. 2 boilers, 1 water heater. Tenants pay all utilities through rent. 3/4 units rented at $1448, $1448, $1348/ month, the 3 leased are month to month. The vacant unit's market rent is $1700+utilities+garage rent. Incredible opportunity to owner occupy or add to your portfolio!

20. 2022-06-30
    status Pending 757-char remark

    Show marketing remark (757 chars)

    BACK ON THE MARKET, buyer's financing feel through last minute. Beautifully maintained 4-plex in super location! Walk to many colleges or places to eat! All units are 2 beds, 1 Bath, 1 den, full of natural light. Many updates completed over the years, newer windows throughout, some new appliances, woodwork and floors maintained, and some baths modernized. Roof is a built up, in great condition. 4 car garage, included in rent payment at $100/month. 4 sets of washer and dryers. 2 boilers, 1 water heater. Tenants pay all utilities through rent. 3/4 units rented at $1448, $1448, $1348/ month, the 3 leased are month to month. The vacant unit's market rent is $1700+utilities+garage rent. Incredible opportunity to owner occupy or add to your portfolio!

21. 2022-06-27
    historical Contingent - Inspection 757-char remark

    Show marketing remark (757 chars)

    BACK ON THE MARKET, buyer's financing feel through last minute. Beautifully maintained 4-plex in super location! Walk to many colleges or places to eat! All units are 2 beds, 1 Bath, 1 den, full of natural light. Many updates completed over the years, newer windows throughout, some new appliances, woodwork and floors maintained, and some baths modernized. Roof is a built up, in great condition. 4 car garage, included in rent payment at $100/month. 4 sets of washer and dryers. 2 boilers, 1 water heater. Tenants pay all utilities through rent. 3/4 units rented at $1448, $1448, $1348/ month, the 3 leased are month to month. The vacant unit's market rent is $1700+utilities+garage rent. Incredible opportunity to owner occupy or add to your portfolio!

22. 2022-05-19
    price $740,000 757-char remark

    Show marketing remark (757 chars)

    BACK ON THE MARKET, buyer's financing feel through last minute. Beautifully maintained 4-plex in super location! Walk to many colleges or places to eat! All units are 2 beds, 1 Bath, 1 den, full of natural light. Many updates completed over the years, newer windows throughout, some new appliances, woodwork and floors maintained, and some baths modernized. Roof is a built up, in great condition. 4 car garage, included in rent payment at $100/month. 4 sets of washer and dryers. 2 boilers, 1 water heater. Tenants pay all utilities through rent. 3/4 units rented at $1448, $1448, $1348/ month, the 3 leased are month to month. The vacant unit's market rent is $1700+utilities+garage rent. Incredible opportunity to owner occupy or add to your portfolio!

23. 2022-04-21
    price $770,000 757-char remark

    Show marketing remark (757 chars)

    BACK ON THE MARKET, buyer's financing feel through last minute. Beautifully maintained 4-plex in super location! Walk to many colleges or places to eat! All units are 2 beds, 1 Bath, 1 den, full of natural light. Many updates completed over the years, newer windows throughout, some new appliances, woodwork and floors maintained, and some baths modernized. Roof is a built up, in great condition. 4 car garage, included in rent payment at $100/month. 4 sets of washer and dryers. 2 boilers, 1 water heater. Tenants pay all utilities through rent. 3/4 units rented at $1448, $1448, $1348/ month, the 3 leased are month to month. The vacant unit's market rent is $1700+utilities+garage rent. Incredible opportunity to owner occupy or add to your portfolio!

24. 2022-03-31
    listed $795,000 Active 757-char remark

    Show marketing remark (757 chars)

    BACK ON THE MARKET, buyer's financing feel through last minute. Beautifully maintained 4-plex in super location! Walk to many colleges or places to eat! All units are 2 beds, 1 Bath, 1 den, full of natural light. Many updates completed over the years, newer windows throughout, some new appliances, woodwork and floors maintained, and some baths modernized. Roof is a built up, in great condition. 4 car garage, included in rent payment at $100/month. 4 sets of washer and dryers. 2 boilers, 1 water heater. Tenants pay all utilities through rent. 3/4 units rented at $1448, $1448, $1348/ month, the 3 leased are month to month. The vacant unit's market rent is $1700+utilities+garage rent. Incredible opportunity to owner occupy or add to your portfolio!

25. 2022-03-25
    historical $795,000 757-char remark

    Show marketing remark (757 chars)

    BACK ON THE MARKET, buyer's financing feel through last minute. Beautifully maintained 4-plex in super location! Walk to many colleges or places to eat! All units are 2 beds, 1 Bath, 1 den, full of natural light. Many updates completed over the years, newer windows throughout, some new appliances, woodwork and floors maintained, and some baths modernized. Roof is a built up, in great condition. 4 car garage, included in rent payment at $100/month. 4 sets of washer and dryers. 2 boilers, 1 water heater. Tenants pay all utilities through rent. 3/4 units rented at $1448, $1448, $1348/ month, the 3 leased are month to month. The vacant unit's market rent is $1700+utilities+garage rent. Incredible opportunity to owner occupy or add to your portfolio!

ⓘ 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: $14,266 · $1,189/mo
• Projected year-2 tax: $14,266 · $1,189/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $125,856
• − Mortgage interest: −$51,814
• − Property taxes: −$14,266
• − Insurance: −$4,625
• − Repairs & maintenance: −$10,068
• − Management: −$10,068
• − Depreciation: −$26,909
• Taxable income: $8,105
• Est. tax owed @ 24.0%: −$1,945
• After-tax cash flow: $20,381/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

+16.4% since first listed

12 events — show timeline

• 2026-05-15 Listed $925,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-14 Sold (Public Records) $740,000 Public Records
• 2022-09-30 Sold (MLS) $740,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-12 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-27 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-19 Price Changed $740,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-21 Price Changed $770,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-31 Listed $795,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-25 Coming Soon $795,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2025): $14,266 · +1.7% YoY. Source: county tax records.