275 Western Ave S · St. Paul, MN 55102

$420,000

4 bd · 2.0 ba · 1,879 sqft · MultiFamily public records · 117 Days on market

Built 1884 3,963 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 +8.7/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Here is a rare opportunity find...a duplex with two three bedroom apartments ready for new tenants. Newly updated and rare six bedroom duplex in the vibrant West 7th Neighborhood, just steps away from breweries, cafes, restaurants, the Xcel Energy Center, etc. Less than 4 minutes to Downtown Saint Paul and shopping and entertainment district. 5 minutes to scenic trails and bluffs overlooking the river. In the heart of the city but tucked away in a quiet corner, this gem offers brand new appliances, bathrooms, fixtures, etc. with tasteful finishes throughout the home. Great yard space, paved driveway, storage shed, and decks for each level accompany this beautiful property. A great value in St. Paul!

Key facts

• 3,963 sq ft lot
• Built 1884
• Listed 117 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $420k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $855/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $420k).
• Recommended offer: $382k (9.0% 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 (+1.6%/yr); 145 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $5,759/mo this rent would consume 90% of the median local household income ($76k/yr) (locally 1116% 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 $13k 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 + 1.6% rent growth), your $118k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($382k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $100k; list at $420k implies a 322% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1884 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $382,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% 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 1884 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.37% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.45%
• DSCR: 1.78
• GRM: 6.1

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: 7.3%
• Equity multiple: 1.28×
• Total profit: $32,916
• Equity at exit: $62,623

10-year hold

• IRR: 15.4%
• Equity multiple: 2.17×
• Total profit: $137,198
• Equity at exit: $36,314

Cash invested: $117,600 (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: 12.2×

Monthly cashflow live

• Estimated rent: $5,759 high
• Mortgage (P&I): −$2,203
• Tax from tax record: −$462 /mo · $5,542/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,209
• Net cashflow: $1,710

Break-even live

Break-even rent $3,594

Max offer price $420,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,948	-5% $1,829	+0% $1,710	+5% $1,591	+10% $1,472
Rent	-10% $1,255	-5% $1,483	+0% $1,710	+5% $1,938	+10% $2,165
Rate	-1.0pp $1,922	-0.5pp $1,817	base $1,710	+0.5pp $1,601	+1.0pp $1,491

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$5,760
Total (2 units)			$5,759

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$3,700	$3.53	2d	23	1.11mi
740 Victoria St S Saint Paul, MN	3.0	1.0–2.0	1076	$3,558	$3.31	0d	38	1.35mi

Listing history 24 events

1. 2026-06-18
   days on market $420,000 Active 117 DOM
2. 2026-06-17
   days on market $420,000 Active 116 DOM
3. 2026-06-16
   days on market $420,000 Active 115 DOM
4. 2026-06-15
   days on market $420,000 Active 114 DOM
5. 2026-06-13
   days on market $420,000 Active 112 DOM
6. 2026-06-09
   days on market $420,000 Active 108 DOM
7. 2026-06-08
   days on market $420,000 Active 107 DOM
8. 2026-06-07
   days on market $420,000 Active 106 DOM
9. 2026-06-04
   days on market $420,000 Active 103 DOM
10. 2026-06-03
    days on market $420,000 Active 102 DOM
11. 2026-06-02
    days on market $420,000 Active 101 DOM
12. 2026-06-01
    days on market $420,000 Active 100 DOM
13. 2026-05-31
    days on market $420,000 Active 99 DOM
14. 2026-05-09
    price $420,000 708-char remark

    Show marketing remark (708 chars)

    Here is a rare opportunity find...a duplex with two three bedroom apartments ready for new tenants. Newly updated and rare six bedroom duplex in the vibrant West 7th Neighborhood, just steps away from breweries, cafes, restaurants, the Xcel Energy Center, etc. Less than 4 minutes to Downtown Saint Paul and shopping and entertainment district. 5 minutes to scenic trails and bluffs overlooking the river. In the heart of the city but tucked away in a quiet corner, this gem offers brand new appliances, bathrooms, fixtures, etc. with tasteful finishes throughout the home. Great yard space, paved driveway, storage shed, and decks for each level accompany this beautiful property. A great value in St. Paul!

15. 2026-02-21
    listed $439,000 Active 708-char remark

    Show marketing remark (708 chars)

    Here is a rare opportunity find...a duplex with two three bedroom apartments ready for new tenants. Newly updated and rare six bedroom duplex in the vibrant West 7th Neighborhood, just steps away from breweries, cafes, restaurants, the Xcel Energy Center, etc. Less than 4 minutes to Downtown Saint Paul and shopping and entertainment district. 5 minutes to scenic trails and bluffs overlooking the river. In the heart of the city but tucked away in a quiet corner, this gem offers brand new appliances, bathrooms, fixtures, etc. with tasteful finishes throughout the home. Great yard space, paved driveway, storage shed, and decks for each level accompany this beautiful property. A great value in St. Paul!

16. 2016-01-25
    soldstatus $99,500
17. 2015-12-11
    soldstatus $80,500
18. 2015-11-21
    historical
19. 2015-09-18
    listed $137,500 Active
20. 2009-11-12
    soldstatus $74,500
21. 2009-10-22
    historical
22. 2009-10-08
    listed $84,900
23. 2009-10-06
    historical
24. 2009-04-21
    listed $84,900

ⓘ 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: $5,542 · $462/mo
• Projected year-2 tax: $5,542 · $462/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 ≥100°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: $69,108
• − Mortgage interest: −$23,527
• − Property taxes: −$5,542
• − Insurance: −$2,100
• − Repairs & maintenance: −$5,529
• − Management: −$5,529
• − Depreciation: −$12,218
• Taxable income: $14,664
• Est. tax owed @ 24.0%: −$3,519
• After-tax cash flow: $17,004/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

+394.7% since first listed

11 events — show timeline

• 2026-05-09 Price Changed $420,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-21 Listed $439,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-01-25 Sold (Public Records) $99,500 Public Records
• 2015-12-11 Sold (Public Records) $80,500 Public Records
• 2015-11-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-18 Listed $137,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-11-12 Sold (MLS) $74,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-08 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-21 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+15.8%/yr

Latest (2025): $5,542 · +3.9% YoY. Source: county tax records.