878 Monroe Ct · St. Paul, MN 55102

$299,900

3 bd · 1.0 ba · 1,201 sqft · SingleFamily public records · 18 Days on market

Built 1900 5,052 sqft lot

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Why this score? — see what drove the D+ 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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• 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

Listing remarks MLS

Nicely Updated Home, Move in and Enjoy. Great Value in this Home. Newer Exterior and Interior. Including Newer roof and siding. Updated Kitchen and Bathrooms. New Paint and Flooring. Main Floor Laundry. 2 Bedrooms on Main Level and 1 Bedroom Upstairs. Office/Den Upstairs as well. Full Basement with updated Mechanicals Including Newer Furnace and AC. Newer Large 2 Car Garage.

Key facts

• 5,052 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Financial info: VA mortgage eligible

Exterior

• Parking: Attached 2-car garage
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One and one-half stories; Main floor primary bedroom
• Construction: Brick/mortar foundation
• Exterior features: Deck and porch; Stucco exterior; Full fencing; Medium tree coverage on lot; City street frontage (publicly maintained)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Three bedrooms (two on main level, one on upper level)
• Bathrooms: One full bathroom (main floor)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: All living facilities on one level (main floor primary, main floor bedroom, main floor laundry); Eat-in kitchen
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $295k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $3,011/mo this rent would consume 47% 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 $2k of loan paydown is wiped out by about $9k 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 18 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago; this cycle's ask is 43% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $214k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $295,401 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.00% ✓
• Cap rate: 7.46%
• Cash-on-cash: 4.17%
• DSCR: 1.19
• GRM: 8.3

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: -11.4%
• Equity multiple: 0.59×
• Total profit: $-34,149
• Equity at exit: $44,716

10-year hold

• IRR: -4.3%
• Equity multiple: 0.73×
• Total profit: $-22,283
• Equity at exit: $25,930

Cash invested: $83,972 (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: 8.3×

Monthly cashflow live

• Estimated rent: $3,011 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$390 /mo · $4,674/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$632
• Net cashflow: $292

Break-even live

Break-even rent $2,642

Max offer price $299,900

Occupancy floor 85%

Sensitivity live

Price	-10% $461	-5% $377	+0% $292	+5% $207	+10% $122
Rent	-10% $54	-5% $173	+0% $292	+5% $411	+10% $530
Rate	-1.0pp $443	-0.5pp $368	base $292	+0.5pp $214	+1.0pp $135

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
470 Lexington Pkwy S Saint Paul, MN	2.0	1.0–2.0	1175	$3,500	$2.98	2d	19	0.45mi
740 Victoria St S Saint Paul, MN	3.0	1.0–2.0	1076	$3,558	$3.31	0d	38	0.71mi
380 Randolph Ave Saint Paul, MN	2.0	1.0–2.0	753	$2,946	$3.91	0d	18	1.02mi

Listing history 13 events

1. 2026-06-18
   days on market $299,900 Coming Soon 18 DOM
2. 2026-06-17
   days on market $299,900 Coming Soon 17 DOM
3. 2026-06-16
   days on market $299,900 Coming Soon 16 DOM
4. 2026-06-15
   days on market $299,900 Coming Soon 15 DOM
5. 2026-06-13
   days on market $299,900 Coming Soon 13 DOM
6. 2026-06-09
   days on market $299,900 Coming Soon 9 DOM
7. 2026-06-08
   days on market $299,900 Coming Soon 8 DOM
8. 2026-06-07
   days on market $299,900 Coming Soon 7 DOM
9. 2026-06-04
   days on market $299,900 Coming Soon 4 DOM
10. 2026-06-03
    days on market $299,900 Coming Soon 3 DOM
11. 2026-06-02
    days on market $299,900 Coming Soon 2 DOM
12. 2026-06-01
    remarks 233-char remark
13. 2026-06-01
    listed $299,900 Coming Soon 1 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: $4,674 · $390/mo
• Projected year-2 tax: $4,674 · $390/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 6/10 Major FEMA zone X (unshaded) · 69% 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: $36,134
• − Mortgage interest: −$16,799
• − Property taxes: −$4,674
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,891
• − Management: −$2,891
• − Depreciation: −$8,724
• Taxable loss: −$1,344
• Est. tax savings @ 24.0%: +$323
• After-tax cash flow: $3,823/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

+605.6% since first listed

17 events — show timeline

• 2026-06-01 Coming Soon $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-20 Sold (Public Records) $214,000 Public Records
• 2020-02-03 Sold (MLS) $214,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-01-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-12-20 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-12-11 Listed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-11-25 Price Changed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-30 Price Changed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-22 Listed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-06-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-05-12 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-02-26 Sold (MLS) $24,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-02-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-01-13 Listed $32,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-01-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-06 Listed $42,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2025): $4,674 · +9.7% YoY. Source: county tax records.