997 Marion St · St. Paul, MN 55117

$234,900

4 bd · 2.0 ba · 1,424 sqft · MultiFamily public records · 30 Days on market

Built 1887 5,532 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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Rent growth +3.4/5.0
• 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

Welcome to 997 Marion Street. An up-and-down duplex situated on a quiet tree-lined street. This duplex offers an upper unit with 2 bedrooms and 1 full bathroom. Currently rented on a month-to-month lease for $1,075. The lower unit offers 2 bedrooms, a three-quarter bathroom, and driveway access for parking. It is currently rented on a month-to-month lease for $1,144. Both units are in good condition and feature various updates, including a remodeled upper-level bathroom, newer lower-unit carpet and paint, a newer furnace, a deck painted in 2023, a new water heater, and new solid-core doors at the top and bottom of the main staircase. This property also has a spacious backyard. It is conveniently located near schools, parks, restaurants, Hwy 94, and 35E. This is a great opportunity for any investor or owner-occupant!

Key facts

• Up and down duplex
• Newer furnace
• Spacious backyard

Tags

• UP AND DOWN DUPLEX
• REMODELED UPPER LEVEL BATHROOM
• NEWER LOWER UNIT CARPET
• NEWER FURNACE
• SPACIOUS BACKYARD

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive. Per door: $302/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $231k (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 (+3.6%/yr); 170 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• This rent runs 45% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $66k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 7y 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 $202k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $231,376 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.13% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.02%
• DSCR: 1.49
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.6% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,959
• Equity at exit: $35,024

10-year hold

• IRR: 11.0%
• Equity multiple: 1.88×
• Total profit: $57,737
• Equity at exit: $20,310

Cash invested: $65,772 (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 55117

• Rents YoY: 3.6%
• Active inventory: 170
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $2,650 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$160 /mo · $1,920/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $604

Break-even live

Break-even rent $1,886

Max offer price $234,900

Occupancy floor 72%

Sensitivity live

Price	-10% $737	-5% $670	+0% $604	+5% $537	+10% $471
Rent	-10% $394	-5% $499	+0% $604	+5% $708	+10% $813
Rate	-1.0pp $722	-0.5pp $664	base $604	+0.5pp $543	+1.0pp $481

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,650
Total (2 units)			$2,650

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1443 Saint Albans St N Saint Paul, MN	4.0	2.0	1500	$2,700	$1.80	18d	1	1.33mi

Listing history 39 events

1. 2026-06-18
   days on market $234,900 Active 30 DOM
2. 2026-06-17
   days on market $234,900 Active 29 DOM
3. 2026-06-16
   days on market $234,900 Active 28 DOM
4. 2026-06-15
   days on market $234,900 Active 27 DOM
5. 2026-06-13
   days on market $234,900 Active 25 DOM
6. 2026-06-09
   days on market $234,900 Active 21 DOM
7. 2026-06-08
   days on market $234,900 Active 20 DOM
8. 2026-06-07
   days on market $234,900 Active 19 DOM
9. 2026-06-04
   days on market $234,900 Active 16 DOM
10. 2026-06-03
    days on market $234,900 Active 15 DOM
11. 2026-06-02
    days on market $234,900 Active 14 DOM
12. 2026-06-01
    days on market $234,900 Active 13 DOM
13. 2026-05-31
    days on market $234,900 Active 12 DOM
14. 2026-05-19
    listed $234,900 Active 827-char remark

    Show marketing remark (827 chars)

    Welcome to 997 Marion Street. An up-and-down duplex situated on a quiet tree-lined street. This duplex offers an upper unit with 2 bedrooms and 1 full bathroom. Currently rented on a month-to-month lease for $1,075. The lower unit offers 2 bedrooms, a three-quarter bathroom, and driveway access for parking. It is currently rented on a month-to-month lease for $1,144. Both units are in good condition and feature various updates, including a remodeled upper-level bathroom, newer lower-unit carpet and paint, a newer furnace, a deck painted in 2023, a new water heater, and new solid-core doors at the top and bottom of the main staircase. This property also has a spacious backyard. It is conveniently located near schools, parks, restaurants, Hwy 94, and 35E. This is a great opportunity for any investor or owner-occupant!

15. 2026-05-19
    historical

    Show marketing remark (827 chars)

    Welcome to 997 Marion Street. An up-and-down duplex situated on a quiet tree-lined street. This duplex offers an upper unit with 2 bedrooms and 1 full bathroom. Currently rented on a month-to-month lease for $1,075. The lower unit offers 2 bedrooms, a three-quarter bathroom, and driveway access for parking. It is currently rented on a month-to-month lease for $1,144. Both units are in good condition and feature various updates, including a remodeled upper-level bathroom, newer lower-unit carpet and paint, a newer furnace, a deck painted in 2023, a new water heater, and new solid-core doors at the top and bottom of the main staircase. This property also has a spacious backyard. It is conveniently located near schools, parks, restaurants, Hwy 94, and 35E. This is a great opportunity for any investor or owner-occupant!

16. 2026-04-22
    price $234,900
17. 2026-03-12
    listed $239,900 Active
18. 2026-03-09
    historical
19. 2024-08-14
    historical $1,099
20. 2024-07-27
    price $1,099
21. 2024-07-23
    price $1,149
22. 2024-07-17
    price $1,199
23. 2024-06-17
    listed $1,250
24. 2023-08-01
    soldstatus $201,800
25. 2023-06-23
    soldstatus $201,800 Sold
26. 2023-06-14
    status Pending
27. 2023-06-02
    historical Contingent - Inspection
28. 2023-05-27
    historical
29. 2023-05-26
    status Active
30. 2023-05-26
    listed $199,900 Active
31. 2023-05-24
    historical Contingent - Inspection
32. 2023-05-09
    price $209,900
33. 2023-04-19
    price $219,900
34. 2023-03-29
    listed $229,900 Active
35. 2019-07-24
    soldstatus $160,000
36. 2019-07-12
    soldstatus $160,000 Sold
37. 2019-07-08
    status Pending
38. 2019-07-03
    historical Contingent - Inspection
39. 2019-06-19
    listed $149,900 Active

ⓘ 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: $1,920 · $160/mo
• Projected year-2 tax: $2,275 · $190/mo
• Expected delta: +$355/yr (+$30/mo · 18.5%)

ⓘ 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: $31,800
• − Mortgage interest: −$13,158
• − Property taxes: −$1,920
• − Insurance: −$1,174
• − Repairs & maintenance: −$2,544
• − Management: −$2,544
• − Depreciation: −$6,833
• Taxable income: $3,626
• Est. tax owed @ 24.0%: −$870
• After-tax cash flow: $6,375/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): 44,697
• Household income: $70,771
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1588.0

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 0.72)
• Race & ethnicity: White 44% Asian 24% Black 15% Hispanic / Latino 10% Two or more races 10%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 6% Romanian 3% Lithuanian 2%
• Foreign-born: 21% · Canada, Philippines, India
• Languages at home: 68% English-only · Other Asian/Pacific 15% Spanish 8% Other Indo-European 2%

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: ▼ -308.56%
• Current HPI: 267.4216
• Rent YoY: ▲ 3.60%
• 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

+56.7% since first listed

26 events — show timeline

• 2026-05-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-19 Listed $234,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $234,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-12 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-09 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-14 Rental Removed $1,099 APPFOLIO
• 2024-07-27 Price Changed $1,099 APPFOLIO
• 2024-07-23 Price Changed $1,149 APPFOLIO
• 2024-07-17 Price Changed $1,199 APPFOLIO
• 2024-06-17 Listed for Rent $1,250 APPFOLIO
• 2023-08-01 Sold (Public Records) $201,800 Public Records
• 2023-06-23 Sold (MLS) $201,800 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-26 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-26 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-24 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-09 Price Changed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-04-19 Price Changed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-29 Listed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-24 Sold (Public Records) $160,000 Public Records
• 2019-07-12 Sold (MLS) $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-03 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-19 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2025): $1,920 · -18.7% YoY. Source: county tax records.