184 Granite St · St. Paul, MN 55117

$215,000

4 bd · 1.5 ba · 1,274 sqft · SingleFamily public records · 90 Days on market

Built 1895 4,922 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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• 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

A great family home, located in a quiet neighborhood! Home is across street from Cayuga park and bus line for easy access to downtown St Paul. Larger kitchen and rooms. Fenced yard. Perfect for the first time buyers! Recent fully remodeled with tones of upgrades, new roof, new flooring, new A/C, new kitchen cabinets, newer stainless appliances, new bathroom, some new windows too, fresh paint....... Full size basement with higher ceiling for potential future expending of living space. Special Assessments will be paid by seller.

Key facts

• Fully remodeled
• Fenced yard
• New flooring

Tags

• ACROSS STREET FROM CAYUGA PARK
• FENCED YARD
• FULLY REMODELED
• NEW ROOF
• NEW FLOORING
• NEW A/C

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $938 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $202k (6.0% 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 (+3.6%/yr); 170 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $3,134/mo this rent would consume 53% of the median local household income ($71k/yr) (locally 1588% 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 $1k of loan paydown is wiped out by about $6k 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 + 3.6% rent growth), your $60k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 34y 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 $77k; list at $215k implies a 179% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $202,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1895 — 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: 1.46% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.69%
• DSCR: 1.83
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.2%
• Equity multiple: 1.45×
• Total profit: $26,855
• Equity at exit: $32,057

10-year hold

• IRR: 20.7%
• Equity multiple: 2.80×
• Total profit: $108,501
• Equity at exit: $18,589

Cash invested: $60,200 (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: 5.7×

Monthly cashflow live

• Estimated rent: $3,134 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$321 /mo · $3,854/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$658
• Net cashflow: $938

Break-even live

Break-even rent $1,947

Max offer price $215,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,059	-5% $998	+0% $938	+5% $877	+10% $816
Rent	-10% $690	-5% $814	+0% $938	+5% $1,061	+10% $1,185
Rate	-1.0pp $1,046	-0.5pp $992	base $938	+0.5pp $882	+1.0pp $825

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
333 Sibley St Saint Paul, MN	3.0	1.0–2.0	1358	$3,269	$2.41	10d	10	1.24mi
180 E Kellogg Blvd St Paul, MN	3.0	1.0–2.5	1436	$4,595	$3.20	0d	22	1.37mi
111 Kellogg Blvd E Saint Paul, MN	3.0	1.0–2.0	1000	$2,783	$2.78	2d	20	1.41mi

Listing history 38 events

1. 2026-06-02
   status $215,000 Pending 90 DOM
2. 2026-06-01
   days on market $215,000 Contingent - Inspection 90 DOM
3. 2026-05-31
   days on market $215,000 Contingent - Inspection 89 DOM
4. 2026-05-10
   historical Contingent - Inspection 532-char remark

   Show marketing remark (532 chars)

   A great family home, located in a quiet neighborhood! Home is across street from Cayuga park and bus line for easy access to downtown St Paul. Larger kitchen and rooms. Fenced yard. Perfect for the first time buyers! Recent fully remodeled with tones of upgrades, new roof, new flooring, new A/C, new kitchen cabinets, newer stainless appliances, new bathroom, some new windows too, fresh paint....... Full size basement with higher ceiling for potential future expending of living space. Special Assessments will be paid by seller.

5. 2026-04-24
   price $215,000 532-char remark

   Show marketing remark (532 chars)

   A great family home, located in a quiet neighborhood! Home is across street from Cayuga park and bus line for easy access to downtown St Paul. Larger kitchen and rooms. Fenced yard. Perfect for the first time buyers! Recent fully remodeled with tones of upgrades, new roof, new flooring, new A/C, new kitchen cabinets, newer stainless appliances, new bathroom, some new windows too, fresh paint....... Full size basement with higher ceiling for potential future expending of living space. Special Assessments will be paid by seller.

6. 2026-03-03
   listed $225,000 Active 532-char remark

   Show marketing remark (532 chars)

   A great family home, located in a quiet neighborhood! Home is across street from Cayuga park and bus line for easy access to downtown St Paul. Larger kitchen and rooms. Fenced yard. Perfect for the first time buyers! Recent fully remodeled with tones of upgrades, new roof, new flooring, new A/C, new kitchen cabinets, newer stainless appliances, new bathroom, some new windows too, fresh paint....... Full size basement with higher ceiling for potential future expending of living space. Special Assessments will be paid by seller.

7. 2025-12-26
   historical $1,895
8. 2025-12-24
   listed $1,895
9. 2025-12-06
   historical
10. 2025-10-14
    listed $229,900 Active
11. 2023-09-11
    historical $1,895
12. 2023-09-03
    listed $1,895
13. 2023-08-30
    historical $1,895
14. 2023-08-02
    price $1,895
15. 2023-07-25
    listed $1,995
16. 2017-04-12
    soldstatus $77,000
17. 2009-12-09
    soldstatus $28,000
18. 2009-11-02
    historical
19. 2009-10-19
    listed $22,900
20. 2001-03-09
    soldstatus $61,500
21. 2000-09-14
    historical
22. 2000-09-11
    listed $79,900
23. 1996-12-27
    soldstatus $48,400
24. 1996-12-27
    soldstatus $48,400
25. 1996-11-15
    historical
26. 1996-10-31
    listed $49,900
27. 1996-10-10
    historical
28. 1996-07-19
    listed $53,900
29. 1995-07-20
    soldstatus $19,000
30. 1995-06-30
    soldstatus $19,000
31. 1995-05-30
    historical
32. 1995-05-12
    listed $19,900
33. 1994-12-21
    historical
34. 1994-06-27
    listed $39,900
35. 1994-05-24
    historical
36. 1993-12-23
    listed $44,900
37. 1992-12-01
    historical
38. 1992-08-31
    listed $41,900

ⓘ 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: $3,854 · $321/mo
• Projected year-2 tax: $3,854 · $321/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: $37,606
• − Mortgage interest: −$12,043
• − Property taxes: −$3,854
• − Insurance: −$1,075
• − Repairs & maintenance: −$3,009
• − Management: −$3,009
• − Depreciation: −$6,255
• Taxable income: $8,363
• Est. tax owed @ 24.0%: −$2,007
• After-tax cash flow: $9,243/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

+413.1% since first listed

35 events — show timeline

• 2026-05-10 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Price Changed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-03 Listed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-26 Rental Removed $1,895 RENTALBEAST
• 2025-12-24 Listed for Rent $1,895 RENTALBEAST
• 2025-12-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-14 Listed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-11 Rental Removed $1,895 BUILDIUM
• 2023-09-03 Listed for Rent $1,895 BUILDIUM
• 2023-08-30 Rental Removed $1,895 BUILDIUM
• 2023-08-02 Price Changed $1,895 BUILDIUM
• 2023-07-25 Listed for Rent $1,995 BUILDIUM
• 2017-04-12 Sold (Public Records) $77,000 Public Records
• 2009-12-09 Sold (MLS) $28,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-11-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-19 Listed $22,900 NORTHSTARMLS as Distributed by MLS Grid
• 2001-03-09 Sold (Public Records) $61,500 Public Records
• 2000-09-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2000-09-11 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 1996-12-27 Sold (Public Records) $48,400 Public Records
• 1996-12-27 Sold (MLS) $48,400 NORTHSTARMLS as Distributed by MLS Grid
• 1996-11-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-10-31 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 1996-10-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-07-19 Listed $53,900 NORTHSTARMLS as Distributed by MLS Grid
• 1995-07-20 Sold (Public Records) $19,000 Public Records
• 1995-06-30 Sold (MLS) $19,000 NORTHSTARMLS as Distributed by MLS Grid
• 1995-05-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1995-05-12 Listed $19,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-12-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-06-27 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-05-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1993-12-23 Listed $44,900 NORTHSTARMLS as Distributed by MLS Grid
• 1992-12-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1992-08-31 Listed $41,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+11.8%/yr

Latest (2025): $3,854 · +78.8% YoY. Source: county tax records.