1165 Minnehaha Ave E · St. Paul, MN 55106

$239,900

4 bd · 2.0 ba · 1,590 sqft · MultiFamily public records · 4 Days on market

Built 1900 6,926 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 +20.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.9/10.0
• 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 MLS

Solid Investment property that was completely redone in 2008. City of St Paul Fire Inspection "A" with ZERO deficiencies 03/4/16. On Bus line, close to stores. Both units have there own in unit Washer/Dryer. Fully Rented and completely turn key!

Key facts

• Separate utilities
• Turnkey duplex
• In-unit laundry

Tags

• TURNKEY DUPLEX
• EXCLUSIVE BASEMENT ACCESS
• IN-UNIT LAUNDRY
• VALUABLE STORAGE SPACE
• SEPARATE UTILITIES
• SPACIOUS COVERED FRONT PORCH

Property features AI

Finance

• Financial info: Two-unit property; Gross income reported at $32,100; Net operating income reported at $27,100; Owner pays insurance, management, taxes, trash collection, and water; Tenants pay cable TV, electricity, gas, and insurance; Rental license: Standard (active)
• HOA & community: Association amenity: porch

Exterior

• Parking: Gravel parking
• Utilities: City water connected; City sewer connected; Electric and natural gas fuel
• Home design: Residential income property; duplex with up-and-down units; Two levels
• Construction: Asphalt roof; Foundation area approximately 810
• Exterior features: Wood exterior; Front porch; Chain link fencing (full)

Interior

• Kitchen: Each unit includes a range and refrigerator; Dishwasher in each unit
• Bedrooms: Four bedrooms total (units: two bedrooms in each unit)
• Flooring: Hardwood floors in units
• Bathrooms: Two full bathrooms total (one full bath in each unit)
• Heating & cooling: Baseboard heating; Forced air heating; Window cooling units
• Interior features: Unfinished basement; Porch
• Laundry & utility: Washer and dryer in each unit; Washer/Dryer hookup in one unit; Laundry areas located on lower and upper levels and in-unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive. Per door: $149/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).

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 fast (+6.3%/yr); 254 active listings in the ZIP; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• This rent runs 45% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 $67k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 35y ago; this cycle's ask is 19107% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $143k; list at $240k implies a 68% 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 $239,900

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 1900 — 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: 1.09% ✓
• Cap rate: 7.79%
• Cash-on-cash: 5.33%
• DSCR: 1.24
• GRM: 7.6

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: -4.2%
• Equity multiple: 0.84×
• Total profit: $-10,867
• Equity at exit: $35,770

10-year hold

• IRR: 9.1%
• Equity multiple: 1.81×
• Total profit: $54,466
• Equity at exit: $20,742

Cash invested: $67,172 (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 55106

• Rents YoY: 6.3%
• Active inventory: 254
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $2,624 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$416 /mo · $4,998/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $298

Break-even live

Break-even rent $2,246

Max offer price $239,900

Occupancy floor 84%

Sensitivity live

Price	-10% $434	-5% $366	+0% $298	+5% $231	+10% $163
Rent	-10% $91	-5% $195	+0% $298	+5% $402	+10% $506
Rate	-1.0pp $419	-0.5pp $359	base $298	+0.5pp $236	+1.0pp $173

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,624
Total (2 units)			$2,624

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $239,900 Active 4 DOM
2. 2026-06-18
   statusdays on market $239,900 Active 1 DOM
3. 2026-06-17
   days on market $239,900 Coming Soon 6 DOM
4. 2026-06-16
   days on market $239,900 Coming Soon 5 DOM
5. 2026-06-15
   days on market $239,900 Coming Soon 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $239,900 Coming Soon 2 DOM

ⓘ 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: $4,998 · $416/mo
• Projected year-2 tax: $4,998 · $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: $31,488
• − Mortgage interest: −$13,438
• − Property taxes: −$4,998
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,519
• − Management: −$2,519
• − Depreciation: −$6,979
• Taxable loss: −$165
• Est. tax savings @ 24.0%: +$40
• After-tax cash flow: $3,621/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

+380.8% since first listed

25 events — show timeline

• 2026-06-12 Coming Soon $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-07 Rental Removed $1,249 SHOWMOJO
• 2026-06-04 Listed for Rent $1,249 SHOWMOJO
• 2016-07-13 Sold (MLS) $143,025 NORTHSTARMLS as Distributed by MLS Grid
• 2016-07-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-23 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-09 Listed $155,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-14 Sold (MLS) $27,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-01-18 Listed $24,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-12-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-06-22 Listed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 1996-09-06 Sold (Public Records) $42,000 Public Records
• 1996-05-21 Sold (MLS) $42,000 NORTHSTARMLS as Distributed by MLS Grid
• 1996-04-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1995-11-30 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 1995-04-29 Sold (MLS) $44,900 NORTHSTARMLS as Distributed by MLS Grid
• 1995-03-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1995-01-15 Listed $44,900 NORTHSTARMLS as Distributed by MLS Grid
• 1993-12-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1993-09-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1993-09-01 Listed $54,700 NORTHSTARMLS as Distributed by MLS Grid
• 1993-03-04 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 1992-09-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1991-02-15 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $4,998 · -2.5% YoY. Source: county tax records.