198 Robie St W · St. Paul, MN 55107

$329,500

4 bd · 2.0 ba · 1,944 sqft · MultiFamily public records · 17 Days on market

Built 1906 6,751 sqft lot $169/sqft · at area comps Est $388k · 15% under

---

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 +25.0/30.0
• ARV discount +14.3/15.0
• DSCR +8.2/10.0
• 1% rule +6.8/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Beautiful up-down duplex minutes from downtown Saint Paul! Each unit boasts 2 bedrooms and 1 bathroom, open floor plans, separate entrances, and enclosed porches. Lots of updates, including: new boilers (2026), concrete driveway & basement water mitigation system (2025), new roof (2024). Both units currently rented with leases until Spring 2027. Fantastic investment opportunity with immediate cash flow. Come see it before it's gone!

Key facts

• 6,751 sq ft lot
• Built 1906
• Listed 17 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $330k.

Deal economics

• At list price, monthly cash flow is $720 ($9k/yr) — positive. Per door: $360/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $325k (1.5% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $3,899/mo this rent would consume 63% 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 $2k of loan paydown is wiped out by about $10k 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 $92k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($325k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $185k; list at $330k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $324,557 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.18% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.37%
• DSCR: 1.42
• GRM: 7.0

CMA / ARV

• ARV (median comp): $388,382
• List price: $329,500
• Delta: -15.16%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $13,189
• Equity at exit: $49,130

10-year hold

• IRR: 17.4%
• Equity multiple: 2.79×
• Total profit: $164,775
• Equity at exit: $28,489

Cash invested: $92,260 (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: 14.1×

Monthly cashflow live

• Estimated rent: $3,899 high
• Mortgage (P&I): −$1,728
• Tax from tax record: −$495 /mo · $5,938/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $720

Break-even live

Break-even rent $2,987

Max offer price $329,500

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,900
Total (2 units)			$3,899

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: $82,375
• Closing costs: $9,885
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 Kellogg Blvd E Saint Paul, MN	3.0	1.0–2.0	1000	$2,783	$2.78	2d	20	1.10mi
180 E Kellogg Blvd St Paul, MN	3.0	1.0–2.5	1436	$4,595	$3.20	2d	22	1.19mi
333 Sibley St Saint Paul, MN	3.0	1.0–2.0	1358	$3,269	$2.41	10d	10	1.30mi
45 Butler Ave E Saint Paul, MN	1.0–3.0	1.0–2.0	1040	$1,682	$1.62	2d	12	1.36mi
101 10th St E Saint Paul, MN	3.0	1.0–2.0	887	$2,490	$2.81	2d	25	1.48mi

Listing history 19 events

1. 2026-05-04
   status Pending 440-char remark

   Show marketing remark (440 chars)

   Beautiful up-down duplex minutes from downtown Saint Paul! Each unit boasts 2 bedrooms and 1 bathroom, open floor plans, separate entrances, and enclosed porches. Lots of updates, including: new boilers (2026), concrete driveway & basement water mitigation system (2025), new roof (2024). Both units currently rented with leases until Spring 2027. Fantastic investment opportunity with immediate cash flow. Come see it before it's gone!

2. 2026-04-17
   listed $329,500 Active 440-char remark

   Show marketing remark (440 chars)

   Beautiful up-down duplex minutes from downtown Saint Paul! Each unit boasts 2 bedrooms and 1 bathroom, open floor plans, separate entrances, and enclosed porches. Lots of updates, including: new boilers (2026), concrete driveway & basement water mitigation system (2025), new roof (2024). Both units currently rented with leases until Spring 2027. Fantastic investment opportunity with immediate cash flow. Come see it before it's gone!

3. 2026-04-14
   historical $329,500 440-char remark

   Show marketing remark (440 chars)

   Beautiful up-down duplex minutes from downtown Saint Paul! Each unit boasts 2 bedrooms and 1 bathroom, open floor plans, separate entrances, and enclosed porches. Lots of updates, including: new boilers (2026), concrete driveway & basement water mitigation system (2025), new roof (2024). Both units currently rented with leases until Spring 2027. Fantastic investment opportunity with immediate cash flow. Come see it before it's gone!

4. 2025-08-28
   historical
5. 2025-08-25
   historical Contingent - Inspection
6. 2025-08-21
   price $329,900
7. 2025-08-21
   status Active
8. 2025-08-21
   price $329,000
9. 2025-08-04
   historical Contingent - Inspection
10. 2025-07-15
    price $350,000
11. 2025-06-13
    listed $380,000 Active
12. 2025-06-10
    historical
13. 2020-03-31
    soldstatus $185,000
14. 2020-03-20
    soldstatus $185,000 Sold
15. 2020-03-12
    status Pending
16. 2020-02-24
    historical
17. 2020-02-20
    listed $200,000 Active
18. 2019-12-13
    soldstatus $125,000
19. 1995-05-30
    soldstatus $39,876

ⓘ 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: $5,938 · $495/mo
• Projected year-2 tax: $5,938 · $495/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: $46,788
• − Mortgage interest: −$18,457
• − Property taxes: −$5,938
• − Insurance: −$1,648
• − Repairs & maintenance: −$3,743
• − Management: −$3,743
• − Depreciation: −$9,585
• Taxable income: $3,674
• Est. tax owed @ 24.0%: −$882
• After-tax cash flow: $7,760/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

+726.3% since first listed

19 events — show timeline

• 2026-05-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Listed $329,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Coming Soon $329,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-21 Price Changed $329,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-21 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-21 Price Changed $329,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-15 Price Changed $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-13 Listed $380,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-10 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-31 Sold (Public Records) $185,000 Public Records
• 2020-03-20 Sold (MLS) $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-20 Listed $200,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-12-13 Sold (Public Records) $125,000 Public Records
• 1995-05-30 Sold (Public Records) $39,876 Public Records

Property tax history

+5.1%/yr

Latest (2025): $5,938 · +54.2% YoY. Source: county tax records.