1355 Phalen Blvd · St. Paul, MN 55106

$60,853

1 bd · 2.0 ba · 1,141 sqft · Other · 37 Days on market

Built 2003 Good condition

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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
• Condition / age +3.8/5.0
• Livability +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

1 large bedroom with ensuite and large walk-in closet. Additional den room (148 square feet). Unit is on the 3rd story and includes balcony. Separate store room included. Monthly dues include heat, water, sewer, trash, taxes, insurance and mortgage share.

Key facts

• Ensuite
• Walk-in closet
• Balcony

Tags

• LARGE BEDROOM
• ENSUITE
• WALK-IN CLOSET
• DEN ROOM
• BALCONY
• STORE ROOM

Property features AI

Exterior

• Home design: Built in 2003
• Construction: Residence constructed in 2003
• Exterior features: Located in the Greater East Side subdivision

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath other listed at $61k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $61k).
• Recommended offer: $59k (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; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $421 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Recommended offer $59,027 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.18% ✓
• Cap rate: 18.71%
• Cash-on-cash: 44.36%
• DSCR: 2.97
• GRM: 3.8

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: 45.0%
• Equity multiple: 3.04×
• Total profit: $34,779
• Equity at exit: $9,073

10-year hold

• IRR: 52.4%
• Equity multiple: 6.97×
• Total profit: $101,784
• Equity at exit: $5,261

Cash invested: $17,039 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,330 medium
• Mortgage (P&I): −$319
• Tax est. 1.5%: −$76 /mo · $913/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $630

Break-even live

Break-even rent $532

Max offer price $60,853

Occupancy floor 48%

Sensitivity live

Price	-10% $672	-5% $651	+0% $630	+5% $609	+10% $588
Rent	-10% $525	-5% $577	+0% $630	+5% $682	+10% $735
Rate	-1.0pp $661	-0.5pp $645	base $630	+0.5pp $614	+1.0pp $598

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: $15,213
• Closing costs: $1,826
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $60,853 Active 37 DOM
2. 2026-06-17
   days on market $60,853 Active 36 DOM
3. 2026-06-16
   days on market $60,853 Active 35 DOM
4. 2026-06-15
   days on market $60,853 Active 34 DOM
5. 2026-06-13
   days on market $60,853 Active 32 DOM
6. 2026-06-09
   days on market $60,853 Active 28 DOM
7. 2026-06-08
   days on market $60,853 Active 27 DOM
8. 2026-06-07
   days on market $60,853 Active 26 DOM
9. 2026-06-04
   days on market $60,853 Active 23 DOM
10. 2026-06-03
    days on market $60,853 Active 22 DOM
11. 2026-06-02
    days on market $60,853 Active 21 DOM
12. 2026-06-01
    days on market $60,853 Active 20 DOM
13. 2026-05-31
    days on market $60,853 Active 19 DOM
14. 2026-05-12
    listed $60,853 Active 255-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% 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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,955
• − Mortgage interest: −$3,409
• − Property taxes: −$913
• − Insurance: −$304
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$1,770
• Taxable income: $7,007
• Est. tax owed @ 24.0%: −$1,682
• After-tax cash flow: $5,877/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

The home is in good condition with good flooring and interior walls. Minor updates to paint, window treatments, and lighting can significantly enhance its resale and rental value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance curb appeal and interior aesthetics
• Both Replace window treatments — New window treatments can improve curb appeal and interior aesthetics
• Both Install new flooring in kitchen and bathrooms — New flooring can significantly improve the look and feel of the home
• Both Upgrade lighting fixtures — Modern lighting can enhance the home's ambiance and increase its appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Replace window treatments — New window treatments can improve curb appeal and interior aesthetics ↑
• Both Install new flooring in kitchen and bathrooms — New flooring can significantly improve the look and feel of the home ↑
• Both Upgrade lighting fixtures — Modern lighting can enhance the home's ambiance and increase its appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-12 Listed $60,853 FSBO.com