701 Desoto St · St. Paul, MN 55130

$249,000

6 bd · 2.0 ba · 1,735 sqft · MultiFamily public records · 35 Days on market

Built 1887 2,178 sqft lot

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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 +7.5/15.0
• Rent growth +3.5/5.0
• 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

TOTALLY REMODELED ! 3 UP 3 DOWN ! GOOD MONEY MAKER ! QUIEY SRTEET , FENCED YARD , CLOSE TO BUS LINE... CODE COMPLIANT WITH CITY.

Key facts

• 2,178 sq ft lot
• Built 1887
• Listed 35 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $249k).
• Recommended offer: $242k (3.0% 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.
• Zoned schools: Farnsworth Aerospace Lower (math 5% / reading 15%, grade F, #813 of 857 statewide, top 97%, 425 students, 83% FRL) — zoned schools average 83% FRL vs 64% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 27% district-wide (-17 pts) — the specific schools serving this property underperform the St. Paul Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.9%/yr); 59 active listings in the ZIP; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $4,941/mo this rent would consume 110% of the median local household income ($54k/yr) (locally 818% 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 $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 + 3.9% rent growth), your $70k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 33y 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 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $241,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.98% ✓
• Cap rate: 16.32%
• Cash-on-cash: 35.80%
• DSCR: 2.59
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.94% rent growth · sell at horizon

5-year hold

• IRR: 32.6%
• Equity multiple: 2.39×
• Total profit: $96,994
• Equity at exit: $37,127

10-year hold

• IRR: 40.2%
• Equity multiple: 4.95×
• Total profit: $275,348
• Equity at exit: $21,529

Cash invested: $69,720 (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 55130

• Home prices YoY: -17.6%
• Rents YoY: 3.9%
• Active inventory: 59
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $4,941 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$414 /mo · $4,964/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,038
• Net cashflow: $2,080

Break-even live

Break-even rent $2,308

Max offer price $249,000

Occupancy floor 53%

Sensitivity live

Price	-10% $2,221	-5% $2,151	+0% $2,080	+5% $2,010	+10% $1,939
Rent	-10% $1,690	-5% $1,885	+0% $2,080	+5% $2,275	+10% $2,471
Rate	-1.0pp $2,206	-0.5pp $2,144	base $2,080	+0.5pp $2,016	+1.0pp $1,950

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,940
Total (2 units)			$4,941

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Listing history 45 events

1. 2026-06-21
   days on market $249,000 Active 35 DOM
2. 2026-06-18
   days on market $249,000 Active 32 DOM
3. 2026-06-17
   days on market $249,000 Active 31 DOM
4. 2026-06-16
   days on market $249,000 Active 30 DOM
5. 2026-06-15
   days on market $249,000 Active 29 DOM
6. 2026-06-13
   days on market $249,000 Active 27 DOM
7. 2026-06-09
   days on market $249,000 Active 23 DOM
8. 2026-06-08
   days on market $249,000 Active 22 DOM
9. 2026-06-07
   statusdays on market $249,000 Active 21 DOM
10. 2026-04-20
    status Pending
11. 2026-04-13
    historical Contingent - Inspection
12. 2026-04-03
    listed $249,000 Active
13. 2026-03-30
    historical $249,000
14. 2025-11-05
    soldstatus $425,000
15. 2012-03-06
    soldstatus $94,900 128-char remark

    Show marketing remark (128 chars)

    TOTALLY REMODELED ! 3 UP 3 DOWN ! GOOD MONEY MAKER ! QUIEY SRTEET , FENCED YARD , CLOSE TO BUS LINE... CODE COMPLIANT WITH CITY.

16. 2012-02-15
    historical 128-char remark

    Show marketing remark (128 chars)

    TOTALLY REMODELED ! 3 UP 3 DOWN ! GOOD MONEY MAKER ! QUIEY SRTEET , FENCED YARD , CLOSE TO BUS LINE... CODE COMPLIANT WITH CITY.

17. 2012-02-07
    listed $94,500 128-char remark

    Show marketing remark (128 chars)

    TOTALLY REMODELED ! 3 UP 3 DOWN ! GOOD MONEY MAKER ! QUIEY SRTEET , FENCED YARD , CLOSE TO BUS LINE... CODE COMPLIANT WITH CITY.

18. 2011-11-18
    historical
19. 2011-08-16
    listed $94,500
20. 2011-08-06
    historical
21. 2011-01-21
    listed $119,000
22. 2009-03-31
    soldstatus $16,500
23. 2009-01-06
    soldstatus $16,500
24. 2008-12-09
    historical
25. 2008-11-17
    listed $18,500
26. 2005-02-15
    soldstatus $203,000
27. 2004-11-05
    historical
28. 2004-10-15
    listed $199,900
29. 1999-09-02
    soldstatus $49,000
30. 1999-06-04
    soldstatus $49,000
31. 1999-04-08
    historical
32. 1999-02-28
    listed $55,000
33. 1998-11-14
    historical
34. 1998-09-14
    listed $55,000
35. 1998-08-22
    historical
36. 1998-05-22
    listed $49,900
37. 1997-06-08
    historical
38. 1996-11-18
    listed $55,000
39. 1995-04-13
    soldstatus $35,000
40. 1995-03-13
    historical
41. 1994-05-26
    listed $37,500
42. 1994-05-25
    historical
43. 1994-02-07
    listed $39,900
44. 1994-01-31
    historical
45. 1993-07-31
    listed $42,900

ⓘ 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: $4,964 · $414/mo
• Projected year-2 tax: $4,964 · $414/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: $59,292
• − Mortgage interest: −$13,948
• − Property taxes: −$4,964
• − Insurance: −$1,245
• − Repairs & maintenance: −$4,743
• − Management: −$4,743
• − Depreciation: −$7,244
• Taxable income: $22,405
• Est. tax owed @ 24.0%: −$5,377
• After-tax cash flow: $19,585/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): 17,775
• Household income: $54,130
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 818.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Asian 47% Black 22% White 19% Hispanic / Latino 9% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 3% Swedish 2% Romanian 1%
• Foreign-born: 33% · Philippines, Canada, Vietnam
• Languages at home: 44% English-only · Other Asian/Pacific 37% Spanish 7% Other Indo-European 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: ▼ -60.12%
• Current HPI: 281.2507
• Rent YoY: ▲ 3.94%
• 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

+480.4% since first listed

36 events — show timeline

• 2026-04-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-13 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-03 Listed $249,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-30 Coming Soon $249,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-05 Sold (Public Records) $425,000 Public Records
• 2012-03-06 Sold (MLS) $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-02-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-02-07 Listed $94,500 NORTHSTARMLS as Distributed by MLS Grid
• 2011-11-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-08-16 Listed $94,500 NORTHSTARMLS as Distributed by MLS Grid
• 2011-08-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-21 Listed $119,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-31 Sold (Public Records) $16,500 Public Records
• 2009-01-06 Sold (MLS) $16,500 NORTHSTARMLS as Distributed by MLS Grid
• 2008-12-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-17 Listed $18,500 NORTHSTARMLS as Distributed by MLS Grid
• 2005-02-15 Sold (MLS) $203,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-11-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-10-15 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 1999-09-02 Sold (Public Records) $49,000 Public Records
• 1999-06-04 Sold (MLS) $49,000 NORTHSTARMLS as Distributed by MLS Grid
• 1999-04-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1999-02-28 Listed $55,000 NORTHSTARMLS as Distributed by MLS Grid
• 1998-11-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1998-09-14 Listed $55,000 NORTHSTARMLS as Distributed by MLS Grid
• 1998-08-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1998-05-22 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 1997-06-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-11-18 Listed $55,000 NORTHSTARMLS as Distributed by MLS Grid
• 1995-04-13 Sold (MLS) $35,000 NORTHSTARMLS as Distributed by MLS Grid
• 1995-03-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-05-26 Listed $37,500 NORTHSTARMLS as Distributed by MLS Grid
• 1994-05-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-02-07 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-01-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1993-07-31 Listed $42,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+13.8%/yr

Latest (2025): $4,964 · +13.4% YoY. Source: county tax records.