768 Minnehaha Ave E · St. Paul, MN 55106

$189,900

3 bd · 1.5 ba · 1,806 sqft · SingleFamily public records · 35 Days on market

Built 1889 4,965 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks MLS

nice property in a good area. Lots of room for storage. Large Kitchen.

Key facts

• 4,965 sq ft lot
• Garage
• Built 1889

Property features AI

Finance

• Other: Total living area reported at 1,635 square feet (above and below grade areas noted separately); Above-grade finished area and below-grade finished area recorded; Neighborhood number 90
• Financial info: Conventional financing referenced

Exterior

• Parking: Gravel, open parking; 1-car detached garage (approx. 400 sq ft)
• Utilities: City water available in street; City sewer available in street; Natural gas
• Home design: Residential property with two levels; Entry and main living spaces on the main level; Facing direction not specified
• Construction: Asphalt roof; Poured concrete foundation; Built with vinyl siding
• Exterior features: Vinyl exterior; City street frontage; Publicly maintained road access; Lot dimensions approximately 40 x 120

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 4 bedrooms (several located on the upper level; main-level living areas include den, kitchen, living and family rooms)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Boiler heating; Window air conditioning units
• Interior features: Den; Dining room; Family room; Living room; Partially finished basement; Four bedrooms on a single level layout noted
• Laundry & utility: Basement and utility access (basement partially finished)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $184k (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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $2,931/mo this rent would consume 50% 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 $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.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $53k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y 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 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1889 — 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. 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.
5. 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.
6. 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: 1.54% ✓
• Cap rate: 12.83%
• Cash-on-cash: 23.36%
• DSCR: 2.04
• GRM: 5.4

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: 20.0%
• Equity multiple: 1.85×
• Total profit: $45,117
• Equity at exit: $28,315

10-year hold

• IRR: 30.4%
• Equity multiple: 4.16×
• Total profit: $167,855
• Equity at exit: $16,419

Cash invested: $53,172 (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: 255
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,931 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$205 /mo · $2,464/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$616
• Net cashflow: $1,035

Break-even live

Break-even rent $1,621

Max offer price $189,900

Occupancy floor 60%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 6th St E St Paul, MN	2.0	1.0–2.0	980	$2,868	$2.93	1d	16	1.31mi
240 5th St E St Paul, MN	2.0	1.0–2.0	949	$2,770	$2.92	2d	10	1.35mi
333 Sibley St Saint Paul, MN	3.0	1.0–2.0	1358	$3,269	$2.41	10d	10	1.41mi
180 E Kellogg Blvd St Paul, MN	3.0	1.0–2.5	1436	$4,595	$3.20	1d	22	1.47mi

Listing history 18 events

1. 2026-06-04
   status $189,900 Pending 35 DOM
2. 2026-06-03
   days on market $189,900 Contingent - Inspection 35 DOM
3. 2026-06-02
   days on market $189,900 Contingent - Inspection 34 DOM
4. 2026-06-01
   days on market $189,900 Contingent - Inspection 33 DOM
5. 2026-05-31
   days on market $189,900 Contingent - Inspection 32 DOM
6. 2026-05-04
   historical Contingent - Inspection 263-char remark
7. 2026-04-29
   listed $189,900 Active 263-char remark
8. 2017-09-07
   soldstatus $145,000
9. 2010-06-30
   soldstatus $47,500 70-char remark

   Show marketing remark (70 chars)

   nice property in a good area. Lots of room for storage. Large Kitchen.

10. 2010-06-29
    historical 70-char remark

    Show marketing remark (70 chars)

    nice property in a good area. Lots of room for storage. Large Kitchen.

11. 2010-06-02
    listed $34,900 70-char remark

    Show marketing remark (70 chars)

    nice property in a good area. Lots of room for storage. Large Kitchen.

12. 2009-09-02
    historical
13. 2009-03-13
    listed $45,000
14. 2009-02-16
    historical
15. 2008-09-16
    listed $65,000
16. 2000-11-06
    soldstatus $32,000
17. 2000-09-13
    historical
18. 2000-09-08
    listed $18,000

ⓘ 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: $2,464 · $205/mo
• Projected year-2 tax: $2,464 · $205/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: $35,173
• − Mortgage interest: −$10,637
• − Property taxes: −$2,464
• − Insurance: −$950
• − Repairs & maintenance: −$2,814
• − Management: −$2,814
• − Depreciation: −$5,524
• Taxable income: $9,970
• Est. tax owed @ 24.0%: −$2,393
• After-tax cash flow: $10,030/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

+1066.7% since first listed

16 events — show timeline

• 2026-06-08 Sold (Public Records) $210,000 Public Records
• 2026-06-05 Sold (MLS) $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-09-07 Sold (Public Records) $145,000 Public Records
• 2010-06-30 Sold (MLS) $47,500 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-02 Listed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-13 Listed $45,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-02-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-09-16 Listed $65,000 NORTHSTARMLS as Distributed by MLS Grid
• 2000-11-06 Sold (MLS) $32,000 NORTHSTARMLS as Distributed by MLS Grid
• 2000-09-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2000-09-08 Listed $18,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2025): $2,464 · +2.7% YoY. Source: county tax records.