385 Laurel Ave #10 · St. Paul, MN 55102

$125,000

1 bd · 1.0 ba · 605 sqft · Condo public records · 21 Days on market

Built 1918 $295/mo HOA · 16% of rent

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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 +27.0/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

Nice garden level condo. Good light! Located in the heart of Ramsey Hill. Good sized rooms, strong condo association, well-maintained bldg. Newer carpet & appliances. Seller will provide one year lease for off-street parking space.

Key facts

• $295 HOA
• Built 1918
• Listed 20 days

Property features AI

Finance

• Other: Shared building amenities include amusement/party room and exercise room
• HOA & community: HOA managed by Cities Management; Monthly HOA fee of $295; HOA includes hazard insurance, lawn care, grounds maintenance, professional management, sewer, shared amenities, snow removal, and water

Exterior

• Parking: On-street parking only
• Utilities: City water; City sewer; Electric heat source
• Home design: Attached residential property; One story
• Construction: 623 sq ft above grade
• Exterior features: Stone exterior

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator
• Bedrooms: One bedroom (Main level) — 14 x 10
• Bathrooms: One full bathroom (Main level)
• Heating & cooling: Baseboard heat; No central cooling
• Interior features: Dishwasher; Disposal; Refrigerator; Main floor full bath; No basement
• Laundry & utility: Building laundry available (association amenity)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (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 (+1.6%/yr); 145 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 21 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 32y 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 $104k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.51% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.95%
• DSCR: 1.53
• GRM: 5.5

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: -0.4%
• Equity multiple: 0.99×
• Total profit: $-471
• Equity at exit: $18,638

10-year hold

• IRR: 7.6%
• Equity multiple: 1.53×
• Total profit: $18,534
• Equity at exit: $10,808

Cash invested: $35,000 (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 55102

• Rents YoY: 1.6%
• Active inventory: 145
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,888 high
• Mortgage (P&I): −$656
• Tax from tax record: −$140 /mo · $1,680/yr
• Insurance: −$52
• HOA: −$295
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $349

Break-even live

Break-even rent $1,446

Max offer price $125,000

Occupancy floor 77%

Sensitivity live

Price	-10% $419	-5% $384	+0% $349	+5% $313	+10% $278
Rent	-10% $200	-5% $274	+0% $349	+5% $423	+10% $498
Rate	-1.0pp $412	-0.5pp $380	base $349	+0.5pp $316	+1.0pp $283

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$2,181	$2.08	2d	23	0.21mi
253 Kellogg Blvd W Saint Paul, MN	2.0	1.0–2.0	1208	$2,226	$1.84	3d	12	0.64mi
695 Grand Ave Saint Paul, MN	1.0	1.0	755	$2,195	$2.91	0d	6	0.78mi
400 Spring St Saint Paul, MN	1.0–2.0	1.0–2.0	1205	$1,500	$1.24	0d	32	0.87mi
101 10th St E Saint Paul, MN	2.0	1.0–2.0	853	$1,924	$2.25	0d	20	1.07mi
111 Kellogg Blvd E Saint Paul, MN	3.0	1.0–2.0	1000	$1,749	$1.75	2d	20	1.28mi
141 4th St E Saint Paul, MN	2.0	1.0–2.0	811	$1,776	$2.19	20d	20	1.30mi
380 Randolph Ave Saint Paul, MN	2.0	1.0–2.0	753	$2,252	$2.99	0d	18	1.32mi
333 Sibley St Saint Paul, MN	3.0	1.0–2.0	1358	$1,884	$1.39	11d	10	1.37mi
180 E Kellogg Blvd St Paul, MN	3.0	1.0–2.5	1436	$2,338	$1.63	0d	22	1.42mi
240 5th St E St Paul, MN	2.0	1.0–2.0	949	$2,038	$2.15	0d	9	1.43mi
250 6th St E St Paul, MN	2.0	1.0–2.0	980	$2,098	$2.14	0d	17	1.44mi
330 9th St E St Paul, MN	1.0–2.0	1.0	978	$1,445	$1.48	3d	3	1.49mi

HOA detail condo

• Monthly dues: $295 · $3,540/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-18
   days on market $125,000 Active 21 DOM
2. 2026-06-17
   days on market $125,000 Active 20 DOM
3. 2026-06-16
   days on market $125,000 Active 19 DOM
4. 2026-06-15
   days on market $125,000 Active 18 DOM
5. 2026-06-13
   days on market $125,000 Active 16 DOM
6. 2026-06-09
   days on market $125,000 Active 12 DOM
7. 2026-06-08
   remarks 699-char remark
8. 2026-06-08
   days on market $125,000 Active 11 DOM
9. 2026-06-07
   days on market $125,000 Active 10 DOM
10. 2026-06-04
    days on market $125,000 Active 7 DOM
11. 2026-06-03
    days on market $125,000 Active 6 DOM
12. 2026-06-02
    days on market $125,000 Active 5 DOM
13. 2026-06-01
    days on market $125,000 Active 4 DOM
14. 2026-05-31
    days on market $125,000 Active 3 DOM
15. 2026-05-29
    listed $125,000 Active
16. 2026-05-28
    historical $125,000
17. 2008-09-04
    soldstatus $103,600 239-char remark

    Show marketing remark (239 chars)

    Nice garden level condo. Good light! Located in the heart of Ramsey Hill. Good sized rooms, strong condo association, well-maintained bldg. Newer carpet & appliances. Seller will provide one year lease for off-street parking space.

18. 2008-08-27
    historical 239-char remark

    Show marketing remark (239 chars)

    Nice garden level condo. Good light! Located in the heart of Ramsey Hill. Good sized rooms, strong condo association, well-maintained bldg. Newer carpet & appliances. Seller will provide one year lease for off-street parking space.

19. 2008-02-28
    listed $109,000 239-char remark

    Show marketing remark (239 chars)

    Nice garden level condo. Good light! Located in the heart of Ramsey Hill. Good sized rooms, strong condo association, well-maintained bldg. Newer carpet & appliances. Seller will provide one year lease for off-street parking space.

20. 2006-07-21
    historical
21. 2006-02-23
    listed $130,000
22. 2003-03-07
    soldstatus $97,500
23. 2001-10-01
    soldstatus $84,000
24. 2001-07-02
    soldstatus $84,975
25. 1995-12-28
    soldstatus $31,000
26. 1995-12-01
    soldstatus $31,000
27. 1995-11-14
    historical
28. 1995-02-13
    listed $32,500
29. 1994-10-24
    historical
30. 1994-02-08
    listed $36,000
31. 1993-10-20
    soldstatus $22,000
32. 1990-02-27
    soldstatus $29,000

ⓘ 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: $1,680 · $140/mo
• Projected year-2 tax: $1,680 · $140/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: $22,652
• − Mortgage interest: −$7,002
• − Property taxes: −$1,680
• − Insurance: −$625
• − Repairs & maintenance: −$1,812
• − Management: −$1,812
• − HOA: −$3,540
• − Depreciation: −$3,636
• Taxable income: $2,545
• Est. tax owed @ 24.0%: −$611
• After-tax cash flow: $3,573/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

+331.0% since first listed

18 events — show timeline

• 2026-05-29 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-28 Coming Soon $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-09-04 Sold (MLS) $103,600 NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-28 Listed $109,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-07-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-02-23 Listed $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-03-07 Sold (Public Records) $97,500 Public Records
• 2001-10-01 Sold (Public Records) $84,000 Public Records
• 2001-07-02 Sold (Public Records) $84,975 Public Records
• 1995-12-28 Sold (Public Records) $31,000 Public Records
• 1995-12-01 Sold (MLS) $31,000 NORTHSTARMLS as Distributed by MLS Grid
• 1995-11-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1995-02-13 Listed $32,500 NORTHSTARMLS as Distributed by MLS Grid
• 1994-10-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-02-08 Listed $36,000 NORTHSTARMLS as Distributed by MLS Grid
• 1993-10-20 Sold (Public Records) $22,000 Public Records
• 1990-02-27 Sold (Public Records) $29,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,680 · +2.1% YoY. Source: county tax records.