656 E Saint Germain St · St. Cloud, MN 56304

$224,900

3 bd · 2.0 ba · 1,544 sqft · SingleFamily · 3 Days on market

Built 1950 7,884 sqft lot

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Why this score? — see what drove the D 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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Rent growth +3.4/5.0
• 1% rule +3.2/10.0
• Schools +2.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful, rehabbed property with new paint, new carpet, new SS appliances. Beautiful kitchen with adjacent dining room. 2 bedrooms on main level as well as new bathroom. 2 rooms upstairs can be bedrooms or a bedroom/loft area. Basement is ready to be finished and has a 3/4 bath. 2 car detached garage with additional parking in alley. New Furnace 2018.

Key facts

• Brand-new roof
• Granite countertops
• 3/4 bathroom

Tags

• FULLY REMODELED BATHROOM
• GRANITE COUNTERTOPS
• VERSATILE LOFT
• 3/4 BATHROOM
• BRAND-NEW ROOF
• FULLY FENCED YARD

Property features AI

Exterior

• Parking: Detached concrete driveway; 2-car garage (approx. 24 x 22)
• Utilities: City water; City sewer; Natural gas
• Home design: Residential property; One-and-one-half story; Brick/mortar foundation; Pitched asphalt roof
• Construction: Brick/mortar foundation; Vinyl exterior; Asphalt pitched roof
• Exterior features: Vinyl siding; Chain link fencing; Porch; Medium tree coverage; Public transit within about 6 blocks

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Stainless steel appliances; Kitchen window
• Bedrooms: 3 bedrooms total (Main level primary and other bedrooms on main; additional loft on upper level)
• Flooring: Hardwood floors
• Bathrooms: Main-floor full bathroom; Basement three-quarter bathroom
• Heating & cooling: Forced-air heating; Central air conditioning
• Interior features: Ceiling fans; Hardwood floors; Kitchen window; Main-floor primary bedroom; Front porch
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $35 ($418/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (17.7% below list).
• Recommended offer: $185k (17.7% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.9% in St. Cloud — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• St. Cloud Public School District (urban): math 27% / reading 38% proficiency, ranked #264 of 301 in MN (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.8%/yr); 116 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 82 units permitted in Benton County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($58k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 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 $137k; list at $225k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,123 (17.7% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.82% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.79% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-32,790
• Equity at exit: $33,533

10-year hold

• IRR: -4.6%
• Equity multiple: 0.69×
• Total profit: $-19,712
• Equity at exit: $19,445

Cash invested: $62,972 (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 56304

• Home prices YoY: -21.4%
• Rents YoY: 3.8%
• Active inventory: 116
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,851 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$154 /mo · $1,854/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $35

Break-even live

Break-even rent $1,807

Max offer price $224,900

Occupancy floor 93%

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1540 State Highway 23 Saint Cloud, MN	1.0–3.0	1.0–2.0	1050	$1,325	$1.26	2d	10	0.66mi
1205 11th St SE Saint Cloud, MN	4.0	2.0	1416	$2,450	$1.73	44d	1	1.02mi
1225 13th St SE Saint Cloud, MN	4.0	3.0	1500	$2,450	$1.63	44d	1	1.17mi
1277 15th St NE Sauk Rapids, MN	1.0–3.0	1.0–2.0	933	$1,235	$1.32	24d	1	1.43mi

Listing history 4 events

1. 2026-06-19
   days on market $224,900 Active 3 DOM
2. 2026-06-18
   days on market $224,900 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $224,900 Active 1 DOM

ⓘ 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: $1,854 · $154/mo
• Projected year-2 tax: $2,186 · $182/mo
• Expected delta: +$332/yr (+$28/mo · 17.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,215
• − Mortgage interest: −$12,598
• − Property taxes: −$1,854
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,777
• − Management: −$1,777
• − Depreciation: −$6,543
• Taxable loss: −$3,459
• Est. tax savings @ 24.0%: +$830
• After-tax cash flow: $1,248/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. Cloud Public School District
• NCES district ID: 2733510
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $46,638
• Composite: 27.91/100
• National rank: #6866
• State rank: #264 of 301 in MN

Livability — St. Cloud

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Cloud, MN
• County: Sherburne County · 120,363 people
• City population: 60,914
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 17,473
• Household income: $58,148
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 1175.0

Population outlook (Benton County) Hauer SSP2

• Today (2025): 41,796 people
• By 2030: 42,497 · +1.7%
• By 2040: 43,143 · +3.2%
• By 2050: 42,809 · +2.4%
• By 2075: 39,973 · -4.4%
• By 2100: 36,969 · -11.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Black 17% Two or more races 9% Asian 5% Hispanic / Latino 4% Native American 2%
• Common ancestry: Portuguese 6% Romanian 5% Slovak 3%
• Foreign-born: 10% · Vietnam, Canada, China
• Languages at home: 85% English-only · Spanish 3% Vietnamese 2% Other Asian/Pacific 1%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+35.9) · D 31.1% · R 67.0% · Other 1.8%
• 2008→2024 swing: -26.2pp toward R · 2008: -9.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+31.9 2016: R+36.3 2012: R+13.7 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.11%
• Current HPI: 220.2539
• Rent YoY: ▲ 3.79%
• 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

+81.5% since first listed

30 events — show timeline

• 2026-06-16 Listed $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-21 Sold (MLS) $137,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-04-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-04-26 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-04-18 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-07 Sold (Public Records) $63,000 Public Records
• 2018-06-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2018-02-20 Price Changed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-12-17 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-09 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2016-04-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-24 Price Changed $85,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-02-19 Listed $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-01-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-18 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-26 Sold (MLS) $97,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-06 Listed $99,950 NORTHSTARMLS as Distributed by MLS Grid
• 2005-02-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-02-28 Sold (MLS) $137,600 NORTHSTARMLS as Distributed by MLS Grid
• 2005-02-28 Sold (MLS) $137,600 NORTHSTARMLS as Distributed by MLS Grid
• 2005-02-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-01-06 Listed $134,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-01-06 Listed $134,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-08-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-02-01 Listed $134,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-10-04 Sold (MLS) $126,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-07-15 Listed $123,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.3%/yr

Latest (2025): $1,854 · -3.7% YoY. Source: county tax records.