1545 Laurel Ave · St. Paul, MN 55104

$370,000

4 bd · 2.0 ba · 1,792 sqft · MultiFamily public records · 18 Days on market

Built 1936 5,575 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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Side by side duplex in fantastic location. Close to all the new development of Selby and Snelling. Each unit is identical and features two good sized bedrooms with larger closets. They each have their own separate basement and one of the sides is drain tiled. Kitchens have larger eat in space with hardwood floors in the living room and upstairs. A great rental property that has always had good demand and rented quickly.

Key facts

• 5,575 sq ft lot
• Built 1936
• Listed 18 days

Property features AI

Finance

• Other: Two total units (each unit approx. 896 sq ft, each has 1 bedroom count listed as 2 and 1 bathroom); Above-grade finished area totals 1,792 square feet; Lot dimensions approx. 50 x 10 on ~0.128 acre
• Financial info: Property type: Residential income; Owner pays grounds care, sewer, snow removal, taxes, trash collection and water; Tenants pay cable TV and electricity

Exterior

• Parking: Asphalt parking; Approximately 400 sq ft garage
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential income duplex (side-by-side); Two levels; Facing direction not specified
• Construction: Block construction; Asphalt roof (over 8 years old); 896 sq ft foundation area; Built/structured as two units
• Exterior features: Vinyl exterior; Wire fencing; Public transit within about 6 blocks; Medium tree coverage; City street frontage with curbs, paved streets, sidewalks and street lights

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 4 bedrooms total (configured as two 2-bedroom units)
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms total (one in each unit)
• Heating & cooling: Baseboard heating
• Interior features: Hardwood floors; Kitchen window; Drain-tiled full basement
• Laundry & utility: Basement utility access

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $370k.

Deal economics

• At list price, monthly cash flow is $753 ($9k/yr) — positive. Per door: $376/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $370k).
• Recommended offer: $364k (1.5% 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; 1 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 $4,410/mo this rent would consume 70% 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 $3k of loan paydown is wiped out by about $11k 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 18 days — a 2% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $364,450 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.72%
• DSCR: 1.39
• GRM: 7.0

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: -3.6%
• Equity multiple: 0.86×
• Total profit: $-14,058
• Equity at exit: $55,168

10-year hold

• IRR: 5.5%
• Equity multiple: 1.40×
• Total profit: $41,217
• Equity at exit: $31,991

Cash invested: $103,600 (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: 14.0×

Monthly cashflow live

• Estimated rent: $4,410 medium
• Mortgage (P&I): −$1,940
• Tax from tax record: −$637 /mo · $7,642/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$926
• Net cashflow: $753

Break-even live

Break-even rent $3,457

Max offer price $370,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,410
Total (2 units)			$4,410

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1555 Selby Ave Saint Paul, MN	3.0	1.0–2.0	1129	$4,398	$3.90	2d	7	0.14mi

Listing history 19 events

1. 2026-06-08
   statusdays on market $370,000 Pending 18 DOM
2. 2026-06-07
   days on market $370,000 Contingent - Inspection 17 DOM
3. 2026-06-04
   days on market $370,000 Contingent - Inspection 14 DOM
4. 2026-06-03
   days on market $370,000 Contingent - Inspection 13 DOM
5. 2026-06-02
   days on market $370,000 Contingent - Inspection 12 DOM
6. 2026-06-01
   days on market $370,000 Contingent - Inspection 11 DOM
7. 2026-05-31
   days on market $370,000 Contingent - Inspection 10 DOM
8. 2026-05-22
   listed $370,000 Active
9. 2026-05-19
   historical $370,000
10. 2022-07-23
    historical 424-char remark

    Show marketing remark (424 chars)

    Side by side duplex in fantastic location. Close to all the new development of Selby and Snelling. Each unit is identical and features two good sized bedrooms with larger closets. They each have their own separate basement and one of the sides is drain tiled. Kitchens have larger eat in space with hardwood floors in the living room and upstairs. A great rental property that has always had good demand and rented quickly.

11. 2022-07-20
    soldstatus $341,000 Sold 424-char remark

    Show marketing remark (424 chars)

    Side by side duplex in fantastic location. Close to all the new development of Selby and Snelling. Each unit is identical and features two good sized bedrooms with larger closets. They each have their own separate basement and one of the sides is drain tiled. Kitchens have larger eat in space with hardwood floors in the living room and upstairs. A great rental property that has always had good demand and rented quickly.

12. 2022-06-13
    status Pending 424-char remark

    Show marketing remark (424 chars)

    Side by side duplex in fantastic location. Close to all the new development of Selby and Snelling. Each unit is identical and features two good sized bedrooms with larger closets. They each have their own separate basement and one of the sides is drain tiled. Kitchens have larger eat in space with hardwood floors in the living room and upstairs. A great rental property that has always had good demand and rented quickly.

13. 2022-06-09
    listed $335,000 Active 424-char remark

    Show marketing remark (424 chars)

    Side by side duplex in fantastic location. Close to all the new development of Selby and Snelling. Each unit is identical and features two good sized bedrooms with larger closets. They each have their own separate basement and one of the sides is drain tiled. Kitchens have larger eat in space with hardwood floors in the living room and upstairs. A great rental property that has always had good demand and rented quickly.

14. 2022-06-06
    historical $335,000 424-char remark

    Show marketing remark (424 chars)

    Side by side duplex in fantastic location. Close to all the new development of Selby and Snelling. Each unit is identical and features two good sized bedrooms with larger closets. They each have their own separate basement and one of the sides is drain tiled. Kitchens have larger eat in space with hardwood floors in the living room and upstairs. A great rental property that has always had good demand and rented quickly.

15. 2011-01-14
    soldstatus $153,000
16. 2010-12-31
    soldstatus $153,000 223-char remark

    Show marketing remark (223 chars)

    Great side by side duplex with huge investment potential or owner occupied. Wonderful upscale neighborhood that is very convenient to shopping, dining, sports etc. Duplex also has basement and garage and off street parking.

17. 2010-12-03
    historical 223-char remark

    Show marketing remark (223 chars)

    Great side by side duplex with huge investment potential or owner occupied. Wonderful upscale neighborhood that is very convenient to shopping, dining, sports etc. Duplex also has basement and garage and off street parking.

18. 2010-09-01
    listed $175,000 223-char remark

    Show marketing remark (223 chars)

    Great side by side duplex with huge investment potential or owner occupied. Wonderful upscale neighborhood that is very convenient to shopping, dining, sports etc. Duplex also has basement and garage and off street parking.

19. 1991-05-15
    soldstatus $93,000

ⓘ 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: $7,642 · $637/mo
• Projected year-2 tax: $7,642 · $637/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: $52,920
• − Mortgage interest: −$20,726
• − Property taxes: −$7,642
• − Insurance: −$1,850
• − Repairs & maintenance: −$4,234
• − Management: −$4,234
• − Depreciation: −$10,764
• Taxable income: $3,471
• Est. tax owed @ 24.0%: −$833
• After-tax cash flow: $8,198/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

+297.8% since first listed

12 events — show timeline

• 2026-05-22 Listed $370,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-19 Coming Soon $370,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-20 Sold (MLS) $341,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-09 Listed $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-06 Coming Soon $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-14 Sold (Public Records) $153,000 Public Records
• 2010-12-31 Sold (MLS) $153,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-01 Listed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 1991-05-15 Sold (Public Records) $93,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $7,642 · +19.5% YoY. Source: county tax records.