1182 Reaney Ave · St. Paul, MN 55106

$1

4 bd · 2.0 ba · 1,892 sqft · MultiFamily public records · 1 Days on market

Built 1900 5,227 sqft lot

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.1/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Investor's dream! This property has been buttoned up with updates throughout and is ready for another caring owner. Rents @ $2,500/mo with features that make this a consistently desirable spot for renters. Enter in at a 7% cap rate and let this property do the work for you!

Key facts

• 5,227 sq ft lot
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $1.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).

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 fast (+6.3%/yr); 254 active listings in the ZIP; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• This rent runs 33% of the median local income ($70k/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 $0 of loan paydown is wiped out by about $0 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 $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 16y 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 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1

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 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: 193038.00% ✓
• Cap rate: 1829998.24%
• Cash-on-cash: 6535685.53%
• DSCR: 290802.23
• GRM: 0.0

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: —
• Equity multiple: 370340.54×
• Total profit: $103,695
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 872047.53×
• Total profit: $244,173
• Equity at exit: $0

Cash invested: $0 (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: 254

Monthly cashflow live

• Estimated rent: $1,930 medium
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $1,525

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

Sensitivity live

Price	-10% $1,525	-5% $1,525	+0% $1,525	+5% $1,525	+10% $1,525
Rent	-10% $1,372	-5% $1,449	+0% $1,525	+5% $1,601	+10% $1,677
Rate	-1.0pp $1,525	-0.5pp $1,525	base $1,525	+0.5pp $1,525	+1.0pp $1,525

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-04-21
   status Pending
2. 2026-02-27
   listed $1 Active
3. 2022-01-21
   soldstatus $261,009 Sold 274-char remark

   Show marketing remark (274 chars)

   Investor's dream! This property has been buttoned up with updates throughout and is ready for another caring owner. Rents @ $2,500/mo with features that make this a consistently desirable spot for renters. Enter in at a 7% cap rate and let this property do the work for you!

4. 2022-01-21
   soldstatus $261,009

   Show marketing remark (274 chars)

   Investor's dream! This property has been buttoned up with updates throughout and is ready for another caring owner. Rents @ $2,500/mo with features that make this a consistently desirable spot for renters. Enter in at a 7% cap rate and let this property do the work for you!

5. 2021-12-28
   status Pending 274-char remark

   Show marketing remark (274 chars)

   Investor's dream! This property has been buttoned up with updates throughout and is ready for another caring owner. Rents @ $2,500/mo with features that make this a consistently desirable spot for renters. Enter in at a 7% cap rate and let this property do the work for you!

6. 2021-12-21
   historical Contingent - Inspection 274-char remark

   Show marketing remark (274 chars)

   Investor's dream! This property has been buttoned up with updates throughout and is ready for another caring owner. Rents @ $2,500/mo with features that make this a consistently desirable spot for renters. Enter in at a 7% cap rate and let this property do the work for you!

7. 2021-12-08
   listed $258,000 Active 274-char remark

   Show marketing remark (274 chars)

   Investor's dream! This property has been buttoned up with updates throughout and is ready for another caring owner. Rents @ $2,500/mo with features that make this a consistently desirable spot for renters. Enter in at a 7% cap rate and let this property do the work for you!

8. 2021-12-06
   historical $258,000 274-char remark

   Show marketing remark (274 chars)

   Investor's dream! This property has been buttoned up with updates throughout and is ready for another caring owner. Rents @ $2,500/mo with features that make this a consistently desirable spot for renters. Enter in at a 7% cap rate and let this property do the work for you!

9. 2020-04-03
   soldstatus $220,000 Sold 284-char remark

   Show marketing remark (284 chars)

   Wonderful opportunity for well maintained duplex in St Paul. Both units each have 2 bedrooms and a full bathroom. Fenced in corner lot, spacious garage & convenient location. Tons of natural light and many updates throughout. Great potential for income property or owner occupant.

10. 2020-03-07
    historical Contingent - Inspection 284-char remark

    Show marketing remark (284 chars)

    Wonderful opportunity for well maintained duplex in St Paul. Both units each have 2 bedrooms and a full bathroom. Fenced in corner lot, spacious garage & convenient location. Tons of natural light and many updates throughout. Great potential for income property or owner occupant.

11. 2020-03-05
    listed $175,000 Active 284-char remark

    Show marketing remark (284 chars)

    Wonderful opportunity for well maintained duplex in St Paul. Both units each have 2 bedrooms and a full bathroom. Fenced in corner lot, spacious garage & convenient location. Tons of natural light and many updates throughout. Great potential for income property or owner occupant.

12. 2012-07-23
    soldstatus $90,000
13. 2012-06-29
    soldstatus $90,000
14. 2012-06-05
    historical
15. 2012-05-22
    listed $85,000
16. 2010-10-29
    historical
17. 2010-10-28
    listed $850
18. 2010-06-22
    soldstatus $75,000
19. 2010-06-04
    soldstatus $75,000
20. 2010-05-04
    historical
21. 2010-04-22
    listed $75,000

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 65% 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: $23,165
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − Depreciation: −$0
• Taxable income: $19,458
• Est. tax owed @ 24.0%: −$4,670
• After-tax cash flow: $13,630/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): 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

+248.0% since first listed

21 events — show timeline

• 2026-04-21 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-27 Listed $1 NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-21 Sold (Public Records) $261,009 Public Records
• 2022-01-21 Sold (MLS) $261,009 NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-08 Listed $258,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-06 Coming Soon $258,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-04-03 Sold (MLS) $220,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-05 Listed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-07-23 Sold (Public Records) $90,000 Public Records
• 2012-06-29 Sold (MLS) $90,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-06-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-05-22 Listed $85,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-10-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-10-28 Listed $850 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-22 Sold (Public Records) $75,000 Public Records
• 2010-06-04 Sold (MLS) $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-05-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-22 Listed $75,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.1%/yr

Latest (2025): $7,210 · +66.7% YoY. Source: county tax records.