609 Jessamine Ave E · St. Paul, MN 55130

$190,000

3 bd · 1.0 ba · 1,145 sqft · SingleFamily public records · 16 Days on market

Built 1890 4,791 sqft lot

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Why this score? — see what drove the F 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 +9.3/30.0
• ARV discount +7.5/15.0
• Rent growth +3.5/5.0
• 1% rule +3.0/10.0
• DSCR +2.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sweet, completely renovated home close to bus and shops. Enter on enclosed porch to living room, dining room, eat-in kitchen with new appliances and main floor laundry. 3 bedrooms and 1 full bath upstairs. Home has clean radiator heat, newer siding, roofing and boiler. Completely fenced yard with raised garden bed and outdoor storage. 3 car paved off-street parking. This is a Charming move-in ready "Doll House"

Key facts

• Lvp on the main
• Newer windows
• Updated lighting

Tags

• HARDWOOD FLOORS
• LVP ON THE MAIN
• UPDATED LIGHTING
• NEWER WINDOWS
• 5 YEAR OLD BOILER
• LAUNDRY ON THE MAIN LEVEL

Property features AI

Finance

• Other: Above-grade finished area and living area listed (see agent for details); Foundations described as 'Other' with foundation dimensions 40 x 16

Exterior

• Parking: Carport; Open parking
• Utilities: City water connected; City sewer connected; Natural gas; 100-amp electrical service with circuit breakers
• Home design: Residential property; Two levels; Three-season porch entry area
• Construction: Stone construction details; Asphalt pitched roof (8 years old or newer); Full basement
• Exterior features: Vinyl exterior; Chain-link fencing; Patio; Porch; Tree coverage (medium); Public transit within ~6 blocks; City street with paved streets, sidewalks, street lights and storm sewer

Interior

• Kitchen: Range; Microwave; Refrigerator; Kitchen window
• Bedrooms: 4 bedrooms total; Upper-level bedrooms include one 15 x 12, one 11 x 8, and one 11 x 10; Main-level bedroom 10 x 9
• Flooring: Hardwood floors; Tile floors
• Bathrooms: One full bathroom on the upper level
• Heating & cooling: Boiler heating; Window air conditioning units
• Interior features: Three-season porch; Separate/formal dining room; Main floor laundry; Washer and dryer hookup; Ceiling fan(s); Natural woodwork; Hardwood and tile floors; Kitchen window; Patio; Porch; Satellite dish; Cable available
• Laundry & utility: Washer; Dryer; Washer/Dryer hookup on main floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (19.6% below list).
• Recommended offer: $153k (19.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — 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 (+3.9%/yr); 58 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• This rent runs 34% of the median local income ($54k/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 $1k of loan paydown is wiped out by about $6k 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 16 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 10y 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 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $152,719 (19.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.11%
• DSCR: 0.86
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.94% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.28×
• Total profit: $-38,071
• Equity at exit: $28,330

10-year hold

• IRR: -11.5%
• Equity multiple: 0.28×
• Total profit: $-38,191
• Equity at exit: $16,428

Cash invested: $53,200 (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 55130

• Home prices YoY: -17.6%
• Rents YoY: 3.9%
• Active inventory: 58
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,527 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$269 /mo · $3,226/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $-138

Break-even live

Break-even rent $1,702

Max offer price $165,639

Occupancy floor —

Sensitivity live

Price	-10% $-30	-5% $-84	+0% $-138	+5% $-192	+10% $-245
Rent	-10% $-259	-5% $-198	+0% $-138	+5% $-78	+10% $-17
Rate	-1.0pp $-42	-0.5pp $-90	base $-138	+0.5pp $-187	+1.0pp $-237

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
321 Larpenteur Ave E Maplewood, MN	1.0–2.0	1.0	755	$1,250	$1.66	44d	2	1.32mi

Listing history 34 events

1. 2026-05-18
   historical Contingent - Inspection 592-char remark
2. 2026-05-08
   listed $190,000 Active 592-char remark
3. 2023-01-29
   historical
4. 2023-01-17
   price $214,000
5. 2022-10-26
   price $219,000
6. 2022-10-12
   listed $220,000 Active
7. 2020-07-14
   soldstatus $178,000
8. 2020-06-15
   soldstatus $178,000 Sold

   Show marketing remark (426 chars)

   Sweet, completely renovated home close to bus and shops. Enter on enclosed porch to living room, dining room, eat-in kitchen with new appliances and main floor laundry. 3 bedrooms and 1 full bath upstairs. Home has clean radiator heat, newer siding, roofing and boiler. Completely fenced yard with raised garden bed and outdoor storage. 3 car paved off-street parking. This is a Charming move-in ready "Doll House"

9. 2020-05-08
   status Pending

   Show marketing remark (426 chars)

   Sweet, completely renovated home close to bus and shops. Enter on enclosed porch to living room, dining room, eat-in kitchen with new appliances and main floor laundry. 3 bedrooms and 1 full bath upstairs. Home has clean radiator heat, newer siding, roofing and boiler. Completely fenced yard with raised garden bed and outdoor storage. 3 car paved off-street parking. This is a Charming move-in ready "Doll House"

10. 2020-04-27
    historical Contingent - Inspection

    Show marketing remark (426 chars)

    Sweet, completely renovated home close to bus and shops. Enter on enclosed porch to living room, dining room, eat-in kitchen with new appliances and main floor laundry. 3 bedrooms and 1 full bath upstairs. Home has clean radiator heat, newer siding, roofing and boiler. Completely fenced yard with raised garden bed and outdoor storage. 3 car paved off-street parking. This is a Charming move-in ready "Doll House"

11. 2020-04-22
    listed $162,000 Active

    Show marketing remark (426 chars)

    Sweet, completely renovated home close to bus and shops. Enter on enclosed porch to living room, dining room, eat-in kitchen with new appliances and main floor laundry. 3 bedrooms and 1 full bath upstairs. Home has clean radiator heat, newer siding, roofing and boiler. Completely fenced yard with raised garden bed and outdoor storage. 3 car paved off-street parking. This is a Charming move-in ready "Doll House"

12. 2017-06-13
    soldstatus $142,400
13. 2017-06-06
    soldstatus $142,400 Sold
14. 2017-05-04
    status Pending
15. 2017-04-22
    historical Contingent - Inspection
16. 2017-04-17
    listed $139,900 Active
17. 2017-04-15
    price $139,900
18. 2017-04-15
    status Active
19. 2017-04-01
    historical
20. 2017-03-04
    status Pending
21. 2017-02-26
    historical Contingent - Inspection
22. 2017-02-21
    price $129,900
23. 2017-01-25
    price $133,500
24. 2017-01-09
    price $139,900
25. 2017-01-03
    status Active
26. 2016-12-29
    historical
27. 2016-12-19
    price $144,900
28. 2016-12-06
    listed $149,900 Active
29. 2016-07-25
    soldstatus $45,900
30. 2016-06-10
    soldstatus $45,900 Sold
31. 2016-05-04
    status Pending
32. 2016-04-21
    price $54,722
33. 2016-04-06
    price $59,522
34. 2016-03-25
    listed $67,522 Active

ⓘ 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: $3,226 · $269/mo
• Projected year-2 tax: $3,226 · $269/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: $18,326
• − Mortgage interest: −$10,643
• − Property taxes: −$3,226
• − Insurance: −$950
• − Repairs & maintenance: −$1,466
• − Management: −$1,466
• − Depreciation: −$5,527
• Taxable loss: −$4,952
• Est. tax savings @ 24.0%: +$1,189
• After-tax cash flow: $-466/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): 17,775
• Household income: $54,130
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 818.0

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 0.69)
• Race & ethnicity: Asian 47% Black 22% White 19% Hispanic / Latino 9% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 3% Swedish 2% Romanian 1%
• Foreign-born: 33% · Philippines, Canada, Vietnam
• Languages at home: 44% English-only · Other Asian/Pacific 37% Spanish 7% Other Indo-European 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: ▼ -60.12%
• Current HPI: 281.2507
• Rent YoY: ▲ 3.94%
• 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

+181.4% since first listed

35 events — show timeline

• 2026-05-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-08 Listed $190,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-17 Price Changed $214,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-26 Price Changed $219,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-12 Listed $220,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-14 Sold (Public Records) $178,000 Public Records
• 2020-06-15 Sold (MLS) $178,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-05-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-04-27 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-04-22 Listed $162,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-13 Sold (Public Records) $142,400 Public Records
• 2017-06-06 Sold (MLS) $142,400 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-22 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-17 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-15 Price Changed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-15 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-02-26 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-02-21 Price Changed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-01-25 Price Changed $133,500 NORTHSTARMLS as Distributed by MLS Grid
• 2017-01-09 Price Changed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-01-03 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2016-12-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-12-19 Price Changed $144,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-12-06 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-07-25 Sold (Public Records) $45,900 Public Records
• 2016-06-10 Sold (MLS) $45,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-04-21 Price Changed $54,722 NORTHSTARMLS as Distributed by MLS Grid
• 2016-04-06 Price Changed $59,522 NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-25 Listed $67,522 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2025): $3,226 · +1.9% YoY. Source: county tax records.