306 King St W · St. Paul, MN 55107

$399,000

6 bd · 3.0 ba · 2,226 sqft · MultiFamily public records · 96 Days on market

Built 1888 7,492 sqft lot $179/sqft · at area comps Est $388k · at est.

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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 +6.3/15.0
• Rent growth +5.0/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Welcome to 306 King St W in Saint Paul, a well-maintained triplex offering a great opportunity for investors or owner-occupants. This 2,226 sq ft property features 5 bedrooms and 3 bathrooms across three units, providing strong rental potential. Updates include newer vinyl windows, updated electrical panels, upgraded PEX and copper plumbing, and a high-efficiency furnace. Additional improvements such as updated flooring, insulated attic and crawlspace, and maintenance-free front decking help enhance comfort and reduce upkeep. Situated on a spacious lot with shared laundry and convenient access to parks, transit, and downtown Saint Paul, this property offers excellent income potential ($4k monthly gross market rents) in a desirable location.

Key facts

• Newer vinyl windows
• Insulated attic
• Updated flooring

Tags

• NEWER VINYL WINDOWS
• UPDATED ELECTRICAL PANELS
• HIGH-EFFICIENCY FURNACE
• UPDATED FLOORING
• INSULATED ATTIC
• MAINTENANCE-FREE FRONT DECKING

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $637/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $399k).
• Recommended offer: $363k (9.0% 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 (+10.8%/yr); 64 active listings in the ZIP; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $6,082/mo this rent would consume 98% of the median local household income ($75k/yr) (locally 639% 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 $3k of loan paydown is wiped out by about $12k 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 + 8.0% rent growth), your $112k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($363k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 30y 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 $335k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $363,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.52% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.53%
• DSCR: 1.91
• GRM: 5.5

CMA / ARV

• ARV (median comp): $388,382
• List price: $399,000
• Delta: 2.73%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 1.80×
• Total profit: $89,425
• Equity at exit: $59,492

10-year hold

• IRR: 30.3%
• Equity multiple: 4.42×
• Total profit: $381,662
• Equity at exit: $34,498

Cash invested: $111,720 (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 55107

• Home prices YoY: -16.2%
• Rents YoY: 10.8%
• Active inventory: 64
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $6,082 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$634 /mo · $7,612/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,277
• Net cashflow: $1,912

Break-even live

Break-even rent $3,662

Max offer price $399,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$6,081
Total (3 units)			$6,082

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 49 events

1. 2026-06-18
   days on market $399,000 Active 96 DOM
2. 2026-06-17
   days on market $399,000 Active 95 DOM
3. 2026-06-16
   days on market $399,000 Active 94 DOM
4. 2026-06-15
   days on market $399,000 Active 93 DOM
5. 2026-06-13
   days on market $399,000 Active 91 DOM
6. 2026-06-09
   days on market $399,000 Active 87 DOM
7. 2026-06-08
   days on market $399,000 Active 86 DOM
8. 2026-06-07
   days on market $399,000 Active 85 DOM
9. 2026-06-04
   days on market $399,000 Active 82 DOM
10. 2026-06-03
    days on market $399,000 Active 81 DOM
11. 2026-06-02
    days on market $399,000 Active 80 DOM
12. 2026-06-01
    days on market $399,000 Active 79 DOM
13. 2026-05-31
    days on market $399,000 Active 78 DOM
14. 2026-05-05
    status Active 750-char remark

    Show marketing remark (750 chars)

    Welcome to 306 King St W in Saint Paul, a well-maintained triplex offering a great opportunity for investors or owner-occupants. This 2,226 sq ft property features 5 bedrooms and 3 bathrooms across three units, providing strong rental potential. Updates include newer vinyl windows, updated electrical panels, upgraded PEX and copper plumbing, and a high-efficiency furnace. Additional improvements such as updated flooring, insulated attic and crawlspace, and maintenance-free front decking help enhance comfort and reduce upkeep. Situated on a spacious lot with shared laundry and convenient access to parks, transit, and downtown Saint Paul, this property offers excellent income potential ($4k monthly gross market rents) in a desirable location.

15. 2026-05-05
    price $399,000 750-char remark

    Show marketing remark (750 chars)

    Welcome to 306 King St W in Saint Paul, a well-maintained triplex offering a great opportunity for investors or owner-occupants. This 2,226 sq ft property features 5 bedrooms and 3 bathrooms across three units, providing strong rental potential. Updates include newer vinyl windows, updated electrical panels, upgraded PEX and copper plumbing, and a high-efficiency furnace. Additional improvements such as updated flooring, insulated attic and crawlspace, and maintenance-free front decking help enhance comfort and reduce upkeep. Situated on a spacious lot with shared laundry and convenient access to parks, transit, and downtown Saint Paul, this property offers excellent income potential ($4k monthly gross market rents) in a desirable location.

16. 2026-05-03
    historical 750-char remark

    Show marketing remark (750 chars)

    Welcome to 306 King St W in Saint Paul, a well-maintained triplex offering a great opportunity for investors or owner-occupants. This 2,226 sq ft property features 5 bedrooms and 3 bathrooms across three units, providing strong rental potential. Updates include newer vinyl windows, updated electrical panels, upgraded PEX and copper plumbing, and a high-efficiency furnace. Additional improvements such as updated flooring, insulated attic and crawlspace, and maintenance-free front decking help enhance comfort and reduce upkeep. Situated on a spacious lot with shared laundry and convenient access to parks, transit, and downtown Saint Paul, this property offers excellent income potential ($4k monthly gross market rents) in a desirable location.

17. 2026-04-03
    price $407,500 750-char remark

    Show marketing remark (750 chars)

    Welcome to 306 King St W in Saint Paul, a well-maintained triplex offering a great opportunity for investors or owner-occupants. This 2,226 sq ft property features 5 bedrooms and 3 bathrooms across three units, providing strong rental potential. Updates include newer vinyl windows, updated electrical panels, upgraded PEX and copper plumbing, and a high-efficiency furnace. Additional improvements such as updated flooring, insulated attic and crawlspace, and maintenance-free front decking help enhance comfort and reduce upkeep. Situated on a spacious lot with shared laundry and convenient access to parks, transit, and downtown Saint Paul, this property offers excellent income potential ($4k monthly gross market rents) in a desirable location.

18. 2026-03-12
    listed $414,999 Active 750-char remark

    Show marketing remark (750 chars)

    Welcome to 306 King St W in Saint Paul, a well-maintained triplex offering a great opportunity for investors or owner-occupants. This 2,226 sq ft property features 5 bedrooms and 3 bathrooms across three units, providing strong rental potential. Updates include newer vinyl windows, updated electrical panels, upgraded PEX and copper plumbing, and a high-efficiency furnace. Additional improvements such as updated flooring, insulated attic and crawlspace, and maintenance-free front decking help enhance comfort and reduce upkeep. Situated on a spacious lot with shared laundry and convenient access to parks, transit, and downtown Saint Paul, this property offers excellent income potential ($4k monthly gross market rents) in a desirable location.

19. 2023-07-07
    soldstatus $335,000
20. 2023-06-30
    soldstatus $335,000 Sold 462-char remark

    Show marketing remark (462 chars)

    Great Updated Triplex. Perfect for Owner Occupant or Investor. Updated flooring throughout units and carpet in common area. Newer vinyl double pane windows. Insulated attic and crawlspace. New Pex and Copper Plumbing. Updated Electric Panels, maintenance free decking in front, Newer Coin Laundry's 2016. Exterior grading and exterior drain tile installed around the building foundation new vinyl siding on front porch, newer high efficiency furnace. MUST SEE!

21. 2023-06-14
    status Pending 462-char remark

    Show marketing remark (462 chars)

    Great Updated Triplex. Perfect for Owner Occupant or Investor. Updated flooring throughout units and carpet in common area. Newer vinyl double pane windows. Insulated attic and crawlspace. New Pex and Copper Plumbing. Updated Electric Panels, maintenance free decking in front, Newer Coin Laundry's 2016. Exterior grading and exterior drain tile installed around the building foundation new vinyl siding on front porch, newer high efficiency furnace. MUST SEE!

22. 2023-05-30
    historical Contingent - Inspection 462-char remark

    Show marketing remark (462 chars)

    Great Updated Triplex. Perfect for Owner Occupant or Investor. Updated flooring throughout units and carpet in common area. Newer vinyl double pane windows. Insulated attic and crawlspace. New Pex and Copper Plumbing. Updated Electric Panels, maintenance free decking in front, Newer Coin Laundry's 2016. Exterior grading and exterior drain tile installed around the building foundation new vinyl siding on front porch, newer high efficiency furnace. MUST SEE!

23. 2023-05-21
    price $334,900 462-char remark

    Show marketing remark (462 chars)

    Great Updated Triplex. Perfect for Owner Occupant or Investor. Updated flooring throughout units and carpet in common area. Newer vinyl double pane windows. Insulated attic and crawlspace. New Pex and Copper Plumbing. Updated Electric Panels, maintenance free decking in front, Newer Coin Laundry's 2016. Exterior grading and exterior drain tile installed around the building foundation new vinyl siding on front porch, newer high efficiency furnace. MUST SEE!

24. 2023-05-10
    listed $349,900 Active 462-char remark

    Show marketing remark (462 chars)

    Great Updated Triplex. Perfect for Owner Occupant or Investor. Updated flooring throughout units and carpet in common area. Newer vinyl double pane windows. Insulated attic and crawlspace. New Pex and Copper Plumbing. Updated Electric Panels, maintenance free decking in front, Newer Coin Laundry's 2016. Exterior grading and exterior drain tile installed around the building foundation new vinyl siding on front porch, newer high efficiency furnace. MUST SEE!

25. 2023-05-08
    historical $349,900 462-char remark

    Show marketing remark (462 chars)

    Great Updated Triplex. Perfect for Owner Occupant or Investor. Updated flooring throughout units and carpet in common area. Newer vinyl double pane windows. Insulated attic and crawlspace. New Pex and Copper Plumbing. Updated Electric Panels, maintenance free decking in front, Newer Coin Laundry's 2016. Exterior grading and exterior drain tile installed around the building foundation new vinyl siding on front porch, newer high efficiency furnace. MUST SEE!

26. 2019-04-24
    historical
27. 2019-04-23
    listed $299,900 Active
28. 2011-01-06
    soldstatus $62,900
29. 2010-12-23
    soldstatus $62,900
30. 2010-11-10
    historical
31. 2010-10-01
    listed $69,900
32. 2010-09-28
    historical
33. 2010-05-12
    listed $79,900
34. 2004-10-19
    soldstatus $197,500
35. 2004-09-17
    soldstatus $199,500
36. 2004-08-02
    historical
37. 2004-07-16
    listed $204,900
38. 2004-07-15
    historical
39. 2003-11-20
    listed $202,600
40. 2003-11-20
    historical
41. 2003-07-02
    listed $211,900
42. 1998-07-28
    soldstatus $24,000
43. 1998-05-20
    soldstatus $75,000
44. 1998-04-15
    historical
45. 1998-04-03
    listed $78,500
46. 1997-08-29
    historical
47. 1997-02-07
    listed $74,900
48. 1997-02-05
    historical
49. 1996-08-05
    listed $79,900

ⓘ 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: $7,612 · $634/mo
• Projected year-2 tax: $7,612 · $634/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 ≥100°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: $72,984
• − Mortgage interest: −$22,350
• − Property taxes: −$7,612
• − Insurance: −$1,995
• − Repairs & maintenance: −$5,839
• − Management: −$5,839
• − Depreciation: −$11,607
• Taxable income: $17,742
• Est. tax owed @ 24.0%: −$4,258
• After-tax cash flow: $18,683/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): 15,377
• Household income: $74,531
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 639.0

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 0.71)
• Race & ethnicity: White 47% Hispanic / Latino 23% Two or more races 16% Black 13% Asian 9% Native American 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Portuguese 7% Lithuanian 3% Romanian 2%
• Foreign-born: 18% · Canada, Philippines, Vietnam
• Languages at home: 72% English-only · Spanish 15% Other Asian/Pacific 4% Tagalog/Filipino 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: ▼ -57.70%
• Current HPI: 298.8714
• Rent YoY: ▲ 10.76%
• 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

+399.4% since first listed

36 events — show timeline

• 2026-05-05 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-05 Price Changed $399,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-03 Price Changed $407,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-12 Listed $414,999 NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-07 Sold (Public Records) $335,000 Public Records
• 2023-06-30 Sold (MLS) $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-30 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-21 Price Changed $334,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-10 Listed $349,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-08 Coming Soon $349,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-04-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-04-23 Listed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-06 Sold (Public Records) $62,900 Public Records
• 2010-12-23 Sold (MLS) $62,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-11-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-10-01 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-05-12 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-10-19 Sold (Public Records) $197,500 Public Records
• 2004-09-17 Sold (MLS) $199,500 NORTHSTARMLS as Distributed by MLS Grid
• 2004-08-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-16 Listed $204,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-11-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-11-20 Listed $202,600 NORTHSTARMLS as Distributed by MLS Grid
• 2003-07-02 Listed $211,900 NORTHSTARMLS as Distributed by MLS Grid
• 1998-07-28 Sold (Public Records) $24,000 Public Records
• 1998-05-20 Sold (MLS) $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 1998-04-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1998-04-03 Listed $78,500 NORTHSTARMLS as Distributed by MLS Grid
• 1997-08-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1997-02-07 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 1997-02-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-08-05 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.0%/yr

Latest (2025): $7,612 · +46.0% YoY. Source: county tax records.