617 Wells St · St. Paul, MN 55130

$225,000

3 bd · 1.0 ba · 1,063 sqft · SingleFamily public records · 15 Days on market

Built 1884 4,965 sqft lot

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Why this score? — see what drove the C- 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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.5/10.0
• Rent growth +3.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2BR, 1BA home with 1 car garage.

Key facts

• Large deck
• Fresh paint
• Main floor walkout

Tags

• FRESH PAINT
• STAINLESS STEEL APPLIANCES
• MAIN FLOOR WALKOUT
• LARGE DECK
• FENCED IN BACK YARD

Property features AI

Exterior

• Parking: Detached or attached 2-car garage (approx. 20 x 25)
• Utilities: City water connected; City sewer connected; Natural gas; Electric with circuit breakers
• Home design: Residential property; One-and-a-half story
• Construction: Frame construction; Roof older than 8 years; Foundation type: other
• Exterior features: Vinyl siding; Deck; Chain link fencing; Lot approximately 40 x 125

Interior

• Kitchen: Refrigerator; Range; Microwave; Stainless steel appliances; Kitchen window
• Bedrooms: 3 bedrooms (two upper, one main)
• Bathrooms: 1 full bathroom (upper level)
• Heating & cooling: Boiler heating with baseboard distribution; Window air conditioning units
• Interior features: Informal dining area; Full basement
• Laundry & utility: Washer and dryer included; Electric dryer hookup; Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $2,370/mo this rent would consume 53% of the median local household income ($54k/yr) (locally 818% 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 $7k 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 15 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 32y 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 1884 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,625 (1.5% below list)

Questions for the listing agent

1. Built in 1884 — 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. 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: 1.05% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.67%
• DSCR: 1.25
• GRM: 7.9

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: -6.4%
• Equity multiple: 0.76×
• Total profit: $-15,182
• Equity at exit: $33,548

10-year hold

• IRR: 4.3%
• Equity multiple: 1.33×
• Total profit: $20,859
• Equity at exit: $19,454

Cash invested: $63,000 (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: 7.9×

Monthly cashflow live

• Estimated rent: $2,370 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$300 /mo · $3,606/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $298

Break-even live

Break-even rent $1,993

Max offer price $225,000

Occupancy floor 82%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 9th St E St Paul, MN	1.0–2.0	1.0	978	$2,495	$2.55	3d	3	1.18mi
250 6th St E St Paul, MN	2.0	1.0–2.0	980	$2,868	$2.93	2d	16	1.40mi
240 5th St E St Paul, MN	2.0	1.0–2.0	949	$2,770	$2.92	2d	10	1.45mi

Listing history 20 events

1. 2026-05-12
   listed $225,000 Active 332-char remark
2. 2026-05-12
   historical
3. 2026-05-06
   price $240,000
4. 2026-04-22
   listed $250,000 Active
5. 2026-04-20
   historical
6. 2014-09-25
   soldstatus $47,500 Sold

   Show marketing remark (32 chars)

   2BR, 1BA home with 1 car garage.

7. 2014-09-25
   soldstatus $47,500

   Show marketing remark (32 chars)

   2BR, 1BA home with 1 car garage.

8. 2014-09-25
   soldstatus $47,500

   Show marketing remark (32 chars)

   2BR, 1BA home with 1 car garage.

9. 2014-09-15
   status Pending

   Show marketing remark (32 chars)

   2BR, 1BA home with 1 car garage.

10. 2014-08-28
    historical Contingent - Other

    Show marketing remark (32 chars)

    2BR, 1BA home with 1 car garage.

11. 2014-07-02
    price $59,900

    Show marketing remark (32 chars)

    2BR, 1BA home with 1 car garage.

12. 2014-06-02
    price $64,900

    Show marketing remark (32 chars)

    2BR, 1BA home with 1 car garage.

13. 2014-04-18
    price $74,900

    Show marketing remark (32 chars)

    2BR, 1BA home with 1 car garage.

14. 2014-03-07
    listed $79,900 Active

    Show marketing remark (32 chars)

    2BR, 1BA home with 1 car garage.

15. 2014-03-07
    listed $59,900

    Show marketing remark (32 chars)

    2BR, 1BA home with 1 car garage.

16. 2014-03-07
    listed $59,900

    Show marketing remark (32 chars)

    2BR, 1BA home with 1 car garage.

17. 1995-09-30
    historical
18. 1994-08-23
    listed $45,900
19. 1994-07-30
    historical
20. 1994-03-14
    listed $49,900

ⓘ 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: $3,606 · $300/mo
• Projected year-2 tax: $3,606 · $300/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: $28,435
• − Mortgage interest: −$12,603
• − Property taxes: −$3,606
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,275
• − Management: −$2,275
• − Depreciation: −$6,545
• Taxable income: $6
• Est. tax owed @ 24.0%: −$1
• After-tax cash flow: $3,572/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

+344.9% since first listed

23 events — show timeline

• 2026-06-16 Sold (MLS) $222,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-12 Listed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $240,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-22 Listed $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-20 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-25 Sold (MLS) $47,500 RASM
• 2014-09-25 Sold (MLS) $47,500 LSAR
• 2014-09-25 Sold (MLS) $47,500 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-28 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2014-07-02 Price Changed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-02 Price Changed $64,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-18 Price Changed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-03-07 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-03-07 Listed $59,900 RASM
• 2014-03-07 Listed $59,900 LSAR
• 1995-09-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-08-23 Listed $45,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-07-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-03-14 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2025): $3,606 · +22.0% YoY. Source: county tax records.