397 Burgess St · St. Paul, MN 55117

$229,900

3 bd · 2.0 ba · 1,351 sqft · SingleFamily public records · 71 Days on market

Built 1889 4,356 sqft lot $170/sqft · 38% below area Est $350k · 34% under

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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 +18.3/30.0
• ARV discount +15.0/15.0
• 1% rule +5.7/10.0
• DSCR +5.7/10.0
• 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

Listing remarks MLS

Welcome to this charming two-story home nestled on a quiet street in St. Paul's North End neighborhood. This well-maintained property features four bedrooms, two bathrooms, and a two-car garage. Enjoy a blend of classic charm and modern updates with beautiful hardwood floors, brand-new carpet, a new furnace, central air conditioning, and fresh paint throughout. Home has a fenced in backyard which is convenient for those with young children and pets. Conveniently located just minutes from major highways, this home offers easy access to shopping, dining, and everyday amenities, as well as nearby Como Lake for outdoor recreation. A perfect combination of comfort, location, and value—don’t miss this opportunity!

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1889

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $216k (6.0% 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; 2 comparable units currently listed for rent nearby; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• This rent runs 42% 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.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $112k; list at $230k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $216,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.07% ✓
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 7.8

CMA / ARV

• ARV (median comp): $350,000
• List price: $229,900
• Delta: -34.31%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.4%
• Equity multiple: 0.65×
• Total profit: $-22,326
• Equity at exit: $34,279

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $4,417
• Equity at exit: $19,878

Cash invested: $64,372 (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: 7.8×

Monthly cashflow live

• Estimated rent: $2,461 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$434 /mo · $5,210/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $209

Break-even live

Break-even rent $2,197

Max offer price $229,900

Occupancy floor 87%

Sensitivity live

Price	-10% $339	-5% $274	+0% $209	+5% $144	+10% $79
Rent	-10% $14	-5% $112	+0% $209	+5% $306	+10% $403
Rate	-1.0pp $325	-0.5pp $267	base $209	+0.5pp $149	+1.0pp $89

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	1.24mi
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$3,700	$3.53	2d	23	1.38mi

Listing history 29 events

1. 2026-06-18
   days on market $229,900 Active 71 DOM
2. 2026-06-17
   days on market $229,900 Active 70 DOM
3. 2026-06-16
   days on market $229,900 Active 69 DOM
4. 2026-06-15
   days on market $229,900 Active 68 DOM
5. 2026-06-13
   days on market $229,900 Active 66 DOM
6. 2026-06-09
   days on market $229,900 Active 62 DOM
7. 2026-06-08
   days on market $229,900 Active 61 DOM
8. 2026-06-07
   days on market $229,900 Active 60 DOM
9. 2026-06-04
   days on market $229,900 Active 57 DOM
10. 2026-06-03
    days on market $229,900 Active 56 DOM
11. 2026-06-02
    days on market $229,900 Active 55 DOM
12. 2026-06-01
    days on market $229,900 Active 54 DOM
13. 2026-05-31
    days on market $229,900 Active 53 DOM
14. 2026-04-07
    listed $239,900 Active 731-char remark

    Show marketing remark (731 chars)

    Welcome to this charming two-story home nestled on a quiet street in St. Paul's North End neighborhood. This well-maintained property features four bedrooms, two bathrooms, and a two-car garage. Enjoy a blend of classic charm and modern updates with beautiful hardwood floors, brand-new carpet, a new furnace, central air conditioning, and fresh paint throughout. Home has a fenced in backyard which is convenient for those with young children and pets. Conveniently located just minutes from major highways, this home offers easy access to shopping, dining, and everyday amenities, as well as nearby Como Lake for outdoor recreation. A perfect combination of comfort, location, and value—don’t miss this opportunity!

15. 2017-06-20
    soldstatus $112,000
16. 2017-06-12
    soldstatus $112,000 Sold 260-char remark

    Show marketing remark (260 chars)

    Great rental property with good cash flow. Easy access to Downtown Saint Paul, Como Park and the light rail. Newer windows, newer siding, newer doors, newer hot water heater, forced air furnace, newer central air, & new roof. 24 hr showing notice required.

17. 2017-05-24
    status Pending 260-char remark

    Show marketing remark (260 chars)

    Great rental property with good cash flow. Easy access to Downtown Saint Paul, Como Park and the light rail. Newer windows, newer siding, newer doors, newer hot water heater, forced air furnace, newer central air, & new roof. 24 hr showing notice required.

18. 2017-04-11
    historical Contingent - Inspection 260-char remark

    Show marketing remark (260 chars)

    Great rental property with good cash flow. Easy access to Downtown Saint Paul, Como Park and the light rail. Newer windows, newer siding, newer doors, newer hot water heater, forced air furnace, newer central air, & new roof. 24 hr showing notice required.

19. 2017-03-16
    listed $110,000 Active 260-char remark

    Show marketing remark (260 chars)

    Great rental property with good cash flow. Easy access to Downtown Saint Paul, Como Park and the light rail. Newer windows, newer siding, newer doors, newer hot water heater, forced air furnace, newer central air, & new roof. 24 hr showing notice required.

20. 2009-12-22
    soldstatus $57,000
21. 2009-10-20
    soldstatus $57,000
22. 2009-10-02
    historical
23. 2009-08-12
    listed $59,850
24. 2009-08-02
    historical
25. 2008-12-02
    listed $59,850
26. 2005-12-19
    soldstatus $150,000
27. 2005-11-29
    soldstatus $150,000
28. 2005-11-23
    historical
29. 2005-08-17
    listed $154,400

ⓘ 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: $5,210 · $434/mo
• Projected year-2 tax: $5,210 · $434/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: $29,536
• − Mortgage interest: −$12,878
• − Property taxes: −$5,210
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,363
• − Management: −$2,363
• − Depreciation: −$6,688
• Taxable loss: −$1,115
• Est. tax savings @ 24.0%: +$268
• After-tax cash flow: $2,774/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

+55.4% since first listed

16 events — show timeline

• 2026-04-07 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-20 Sold (Public Records) $112,000 Public Records
• 2017-06-12 Sold (MLS) $112,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-16 Listed $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-12-22 Sold (Public Records) $57,000 Public Records
• 2009-10-20 Sold (MLS) $57,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-08-12 Listed $59,850 NORTHSTARMLS as Distributed by MLS Grid
• 2009-08-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-12-02 Listed $59,850 NORTHSTARMLS as Distributed by MLS Grid
• 2005-12-19 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-11-29 Sold (Public Records) $150,000 Public Records
• 2005-11-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-17 Listed $154,400 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+11.4%/yr

Latest (2025): $5,210 · +41.5% YoY. Source: county tax records.