701 4th St E · St. Paul, MN 55106

$370,500

7 bd · 2.0 ba · 2,974 sqft · MultiFamily public records · 34 Days on market

Built 1900 8,537 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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• 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

Large up and down duplex located on St Pauls East Side featuring two spacious 3-bedroom units with strong long-term rental appeal. Convenient access to downtown St Paul, public transportation, Mississippi Market Co-Op, and the restaurants, shopping, and entertainment along East 7th Street continue to support strong demand throughout this growing East Side corridor. Property features a unique full-depth lot spanning the width of the block with street frontage on both ends, creating uncommon long-term redevelopment potential. Additional features include a detached garage and exceptionally large unit layouts uncommon for traditional duplex properties. Utilities are currently partially owner-pa

Key facts

• 8,537 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Other: Above-grade finished living area about 3,050 (building total area approx. 5,447); Main level finished area approx. 1,525; Lot approx. 0.196 acres (dimensions ~40 x 214)
• Financial info: Two rental units total; Gross annual income reported at $42,660; Owner pays electricity, gas, trash collection and water; tenants pay electricity and gas; Standard rental license in place
• HOA & community: Association offers laundry

Exterior

• Parking: Detached 2-car garage (23 x 22) with 7' door height and 8' door width
• Utilities: City water connected; City sewer connected; Electric service with circuit breakers; Fuel: electric and natural gas
• Home design: Residential income duplex (up and down); Two-story building; Not owner-occupied
• Construction: Constructed with block, concrete and frame materials; Block/brick/concrete perimeter foundation (foundation dimensions approx. 25 x 61); Asphalt pitched roof (over 8 years old)
• Exterior features: Stucco and wood exterior; Full yard fencing; Front porch and terrace; Lot slopes; close to public transit (within ~6 blocks); City street frontage with curbs and paved streets; public road maintenance

Interior

• Kitchen: Each unit includes a range and refrigerator; Gas water heaters
• Bedrooms: Six bedrooms total (distributed across two units: each unit has three bedrooms)
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Boiler hot water heating
• Interior features: Full unfinished basement with owner and single-tenant access; 36+ inch doorways for accessibility; Front porch and terrace
• Laundry & utility: Common laundry room in basement; Association laundry available

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $370k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $831/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $370k).
• Recommended offer: $359k (3.0% 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 fast (+6.3%/yr); 255 active listings in the ZIP; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $5,333/mo this rent would consume 91% of the median local household income ($70k/yr) (locally 2046% 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.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $104k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($359k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 29y 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 $52k; list at $370k implies a 612% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $359,385 (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 1900 — 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: 1.44% ✓
• Cap rate: 11.68%
• Cash-on-cash: 19.22%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.26% rent growth · sell at horizon

5-year hold

• IRR: 14.8%
• Equity multiple: 1.62×
• Total profit: $63,940
• Equity at exit: $55,243

10-year hold

• IRR: 25.8%
• Equity multiple: 3.62×
• Total profit: $271,530
• Equity at exit: $32,034

Cash invested: $103,740 (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 55106

• Rents YoY: 6.3%
• Active inventory: 255
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $5,333 high
• Mortgage (P&I): −$1,943
• Tax from tax record: −$454 /mo · $5,448/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,120
• Net cashflow: $1,662

Break-even live

Break-even rent $3,230

Max offer price $370,500

Occupancy floor 64%

Sensitivity live

Price	-10% $1,871	-5% $1,767	+0% $1,662	+5% $1,557	+10% $1,452
Rent	-10% $1,240	-5% $1,451	+0% $1,662	+5% $1,872	+10% $2,083
Rate	-1.0pp $1,848	-0.5pp $1,756	base $1,662	+0.5pp $1,566	+1.0pp $1,468

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$5,332
Total (2 units)			$5,333

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: $92,625
• Closing costs: $11,115
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $370,500 Active 34 DOM
2. 2026-06-17
   days on market $370,500 Active 33 DOM
3. 2026-06-16
   days on market $370,500 Active 32 DOM
4. 2026-06-15
   days on market $370,500 Active 31 DOM
5. 2026-06-13
   days on market $370,500 Active 29 DOM
6. 2026-06-09
   days on market $370,500 Active 25 DOM
7. 2026-06-08
   days on market $370,500 Active 24 DOM
8. 2026-06-07
   days on market $370,500 Active 23 DOM
9. 2026-06-04
   days on market $370,500 Active 20 DOM
10. 2026-06-03
    days on market $370,500 Active 19 DOM
11. 2026-06-02
    days on market $370,500 Active 18 DOM
12. 2026-06-01
    days on market $370,500 Active 17 DOM
13. 2026-05-31
    days on market $370,500 Active 16 DOM
14. 2026-05-16
    listed $370,500 Active 907-char remark
15. 2026-05-15
    historical $370,500 907-char remark
16. 1998-06-08
    soldstatus $52,000
17. 1998-06-08
    soldstatus $67,000
18. 1998-02-20
    soldstatus $67,000
19. 1998-01-16
    historical
20. 1997-12-05
    listed $75,000
21. 1990-04-09
    soldstatus $56,000

ⓘ 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: $5,448 · $454/mo
• Projected year-2 tax: $5,448 · $454/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: $63,996
• − Mortgage interest: −$20,754
• − Property taxes: −$5,448
• − Insurance: −$1,852
• − Repairs & maintenance: −$5,120
• − Management: −$5,120
• − Depreciation: −$10,778
• Taxable income: $14,924
• Est. tax owed @ 24.0%: −$3,582
• After-tax cash flow: $16,359/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): 56,708
• Household income: $70,187
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2046.0

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 0.75)
• Race & ethnicity: Asian 34% White 32% Black 15% Hispanic / Latino 11% Two or more races 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 4% Lithuanian 2% Romanian 2%
• Foreign-born: 25% · Canada, Philippines, Vietnam
• Languages at home: 59% English-only · Other Asian/Pacific 27% Spanish 9% 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: ▼ -239.48%
• Current HPI: 288.7205
• Rent YoY: ▲ 6.26%
• 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

+561.6% since first listed

8 events — show timeline

• 2026-05-16 Listed $370,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Coming Soon $370,500 NORTHSTARMLS as Distributed by MLS Grid
• 1998-06-08 Sold (Public Records) $67,000 Public Records
• 1998-06-08 Sold (Public Records) $52,000 Public Records
• 1998-02-20 Sold (MLS) $67,000 NORTHSTARMLS as Distributed by MLS Grid
• 1998-01-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1997-12-05 Listed $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 1990-04-09 Sold (Public Records) $56,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $5,448 · -23.1% YoY. Source: county tax records.