26 10th St W #607 · St. Paul, MN 55102

$135,000

2 bd · 1.0 ba · 851 sqft · Condo public records · 44 Days on market

Built 1980 $721/mo HOA · 30% of rent

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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 +22.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful unit in Gallery Towers. Private balcony, tasteful decor, well-maintained unit. Building offers spa, sauna, gym, party room and contract underground parking.

Key facts

• $721 HOA
• Garage
• Built 1980

Property features AI

Finance

• Other: Lot size approximately 0.526 acres (common/parcel info)
• Financial info: Association fee amount provided monthly
• HOA & community: HOA managed by Cedar Management; Monthly association fee; Association amenities include elevator(s), controlled access, fire sprinkler system, shared amenities, snow removal, professional management; Association fee covers air conditioning, heating, cable TV, sewer, hazard insurance, beach access, and more

Exterior

• Parking: Attached garage; Parking garage; Additional onsite paid parking; Underground parking; Unassigned parking
• Security: Controlled access (association amenity); Fire sprinkler system (association amenity)
• Utilities: City water connected; City sewer connected; Fuel: Other
• Home design: Attached residential property; One level; Unit in a multi-story building (unit #607); Accessible design features
• Construction: Concrete construction elements (association/common areas)
• Exterior features: Stone exterior; City street frontage; Publicly maintained road access; Balcony with city view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Concrete floors and walls in common/association areas
• Bathrooms: 1 full bathroom (main floor)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Balcony with city view; Accessible elevator installed; Wide hallways (42"+); No exterior stairs; No interior stairs; Informal dining area; Dishwasher; Microwave; Refrigerator; Forced air heating; Central air conditioning
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% 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 (+1.6%/yr); 145 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• This rent runs 38% of the median local income ($76k/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 $933 of loan paydown is wiped out by about $4k 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 44 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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 $46k; list at $135k implies a 196% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.79% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.42%
• DSCR: 1.33
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.74×
• Total profit: $-9,858
• Equity at exit: $20,129

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-809
• Equity at exit: $11,672

Cash invested: $37,800 (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 55102

• Rents YoY: 1.6%
• Active inventory: 145
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,415 high
• Mortgage (P&I): −$708
• Tax from tax record: −$189 /mo · $2,272/yr
• Insurance: −$56
• HOA: −$721
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $234

Break-even live

Break-even rent $2,120

Max offer price $135,000

Occupancy floor 85%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 10th St E Saint Paul, MN	3.0	1.0–2.0	887	$2,051	$2.31	2d	25	0.24mi
253 Kellogg Blvd W Saint Paul, MN	2.0	1.0–2.0	1208	$3,198	$2.65	3d	12	0.29mi
141 4th St E Saint Paul, MN	2.0	1.0–2.0	811	$2,420	$2.98	20d	20	0.48mi
111 Kellogg Blvd E Saint Paul, MN	3.0	1.0–2.0	1000	$2,266	$2.27	2d	20	0.50mi
333 Sibley St Saint Paul, MN	3.0	1.0–2.0	1358	$2,577	$1.90	10d	10	0.53mi
240 5th St E St Paul, MN	2.0	1.0–2.0	949	$2,770	$2.92	2d	10	0.58mi
250 6th St E St Paul, MN	2.0	1.0–2.0	980	$2,868	$2.93	2d	16	0.58mi
180 E Kellogg Blvd St Paul, MN	3.0	1.0–2.5	1436	$3,467	$2.41	2d	22	0.61mi
330 9th St E St Paul, MN	1.0–2.0	1.0	978	$2,495	$2.55	3d	3	0.64mi
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$2,940	$2.80	2d	23	0.87mi
400 Spring St Saint Paul, MN	1.0–2.0	1.0–2.0	1205	$3,275	$2.72	3d	31	0.93mi

HOA detail condo

• Monthly dues: $721 · $8,652/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $135,000 Active 44 DOM
2. 2026-06-17
   days on market $135,000 Active 43 DOM
3. 2026-06-16
   days on market $135,000 Active 42 DOM
4. 2026-06-15
   days on market $135,000 Active 41 DOM
5. 2026-06-13
   days on market $135,000 Active 39 DOM
6. 2026-06-09
   days on market $135,000 Active 35 DOM
7. 2026-06-08
   days on market $135,000 Active 34 DOM
8. 2026-06-07
   days on market $135,000 Active 33 DOM
9. 2026-06-04
   days on market $135,000 Active 30 DOM
10. 2026-06-03
    days on market $135,000 Active 29 DOM
11. 2026-06-02
    days on market $135,000 Active 28 DOM
12. 2026-06-01
    days on market $135,000 Active 27 DOM
13. 2026-05-31
    days on market $135,000 Active 26 DOM
14. 2026-05-02
    listed $135,000 Active 839-char remark
15. 2025-03-01
    historical
16. 2025-01-13
    price $144,000
17. 2024-09-11
    listed $149,000 Active
18. 2011-06-08
    soldstatus $45,675

    Show marketing remark (166 chars)

    Wonderful unit in Gallery Towers. Private balcony, tasteful decor, well-maintained unit. Building offers spa, sauna, gym, party room and contract underground parking.

19. 2011-05-26
    historical

    Show marketing remark (166 chars)

    Wonderful unit in Gallery Towers. Private balcony, tasteful decor, well-maintained unit. Building offers spa, sauna, gym, party room and contract underground parking.

20. 2011-01-31
    listed $54,000

    Show marketing remark (166 chars)

    Wonderful unit in Gallery Towers. Private balcony, tasteful decor, well-maintained unit. Building offers spa, sauna, gym, party room and contract underground parking.

21. 2010-11-30
    historical
22. 2010-01-13
    listed $79,900
23. 2004-06-02
    historical
24. 2003-12-02
    listed $123,500
25. 2003-11-30
    historical
26. 2003-07-23
    listed $127,500
27. 2002-11-08
    soldstatus $117,000
28. 2002-10-11
    soldstatus $117,000
29. 2002-09-21
    historical
30. 2002-05-17
    listed $117,000
31. 1998-02-26
    soldstatus $36,000

ⓘ 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: $2,272 · $189/mo
• Projected year-2 tax: $2,272 · $189/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: $28,985
• − Mortgage interest: −$7,562
• − Property taxes: −$2,272
• − Insurance: −$675
• − Repairs & maintenance: −$2,319
• − Management: −$2,319
• − HOA: −$8,652
• − Depreciation: −$3,927
• Taxable income: $1,259
• Est. tax owed @ 24.0%: −$302
• After-tax cash flow: $2,502/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): 19,630
• Household income: $76,406
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1116.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Lithuanian 5% Romanian 3%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 4% Other Indo-European 1% German/W. Germanic 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: ▼ -217.83%
• Current HPI: 241.7112
• Rent YoY: ▲ 1.60%
• 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

+275.0% since first listed

18 events — show timeline

• 2026-05-02 Listed $135,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-13 Price Changed $144,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-11 Listed $149,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-06-08 Sold (MLS) $45,675 NORTHSTARMLS as Distributed by MLS Grid
• 2011-05-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-31 Listed $54,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-11-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-01-13 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-06-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-12-02 Listed $123,500 NORTHSTARMLS as Distributed by MLS Grid
• 2003-11-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-07-23 Listed $127,500 NORTHSTARMLS as Distributed by MLS Grid
• 2002-11-08 Sold (Public Records) $117,000 Public Records
• 2002-10-11 Sold (MLS) $117,000 NORTHSTARMLS as Distributed by MLS Grid
• 2002-09-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-05-17 Listed $117,000 NORTHSTARMLS as Distributed by MLS Grid
• 1998-02-26 Sold (Public Records) $36,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,272 · +33.0% YoY. Source: county tax records.