978 3rd St E · St. Paul, MN 55106

$215,000

2 bd · 2.0 ba · 745 sqft · SingleFamily public records · 11 Days on market

Built 1889 4,878 sqft lot

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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 +22.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.7/10.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Historic Dayton’s Bluff gem! One level living in this nicely updated and move-in ready two-bedroom house. It features newer plumbing, electrical and duct work. High performing R48 attic insulation was added in 2023 to ensure low utility bills and a cozy environment inside the home. Other recent updates in 2022 include brand new kitchen cabinets and counters, new carpet in living room and bedrooms, new entry tile in living room, new front entry door, and a Nest thermostat. The fully fenced in back and side yard provide privacy and ample room for outdoor activities. Relax on the front porch or the spacious back deck on cool summer evenings. The three extra parking spaces next to the one-stall garage not only provide room for more vehicles but also the opportunity to build a larger garage in the future. Quick access to the freeway. Close to schools and downtown St. Paul. Book your showing today!

Key facts

• 4,878 sq ft lot
• Garage
• Built 1889

Property features AI

Finance

• Other: Above-grade finished area and main level finished area reported; Below-grade finished area partially finished
• Financial info: Conventional financing indicated

Exterior

• Parking: Concrete parking; Detached or attached 1-car garage (12 x 18, 5' door height)
• Utilities: City water; City sewer; Natural gas; Electrical service with circuit breakers
• Home design: Residential property; One level; Entry level on main floor
• Construction: Block and stone foundation
• Exterior features: Stucco exterior; Deck and porch; Full wood fencing; Light tree coverage; Public transit within six blocks; City street frontage; public maintained road

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 2 full bathrooms (includes full basement bath and a main floor 3/4 bath)
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Basement with egress windows, full and partially finished; Living/Dining room combined; Main floor primary bedroom and main floor bedroom
• Laundry & utility: Washer and Dryer; Gas water heater; Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).

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 fast (+6.3%/yr); 255 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).
• This rent runs 39% of the median local income ($70k/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 $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 + 6.3% rent growth), your $60k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 25y 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 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $215,000

Questions for the listing agent

1. Built in 1889 — 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. 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.
4. 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.
5. 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: 1.07% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.52%
• DSCR: 1.33
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.26% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-3,043
• Equity at exit: $32,057

10-year hold

• IRR: 11.5%
• Equity multiple: 2.04×
• Total profit: $62,390
• 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 55106

• Rents YoY: 6.3%
• Active inventory: 255
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,294 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$218 /mo · $2,612/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $377

Break-even live

Break-even rent $1,816

Max offer price $215,000

Occupancy floor 79%

Sensitivity live

Price	-10% $499	-5% $438	+0% $377	+5% $316	+10% $256
Rent	-10% $196	-5% $287	+0% $377	+5% $468	+10% $558
Rate	-1.0pp $485	-0.5pp $432	base $377	+0.5pp $321	+1.0pp $265

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
330 9th St E St Paul, MN	1.0–2.0	1.0	978	$2,495	$2.55	3d	3	1.41mi
250 6th St E St Paul, MN	2.0	1.0–2.0	980	$2,868	$2.93	2d	16	1.47mi
240 5th St E St Paul, MN	2.0	1.0–2.0	949	$2,770	$2.92	2d	10	1.49mi

Listing history 35 events

1. 2026-05-18
   historical Contingent - Inspection 605-char remark
2. 2026-05-15
   listed $215,000 Active 605-char remark
3. 2026-05-12
   historical $215,000 605-char remark
4. 2024-04-01
   soldstatus $205,000
5. 2024-03-28
   soldstatus $205,000 Sold 911-char remark

   Show marketing remark (911 chars)

   Historic Dayton’s Bluff gem! One level living in this nicely updated and move-in ready two-bedroom house. It features newer plumbing, electrical and duct work. High performing R48 attic insulation was added in 2023 to ensure low utility bills and a cozy environment inside the home. Other recent updates in 2022 include brand new kitchen cabinets and counters, new carpet in living room and bedrooms, new entry tile in living room, new front entry door, and a Nest thermostat. The fully fenced in back and side yard provide privacy and ample room for outdoor activities. Relax on the front porch or the spacious back deck on cool summer evenings. The three extra parking spaces next to the one-stall garage not only provide room for more vehicles but also the opportunity to build a larger garage in the future. Quick access to the freeway. Close to schools and downtown St. Paul. Book your showing today!

6. 2024-03-15
   status Pending 911-char remark

   Show marketing remark (911 chars)

   Historic Dayton’s Bluff gem! One level living in this nicely updated and move-in ready two-bedroom house. It features newer plumbing, electrical and duct work. High performing R48 attic insulation was added in 2023 to ensure low utility bills and a cozy environment inside the home. Other recent updates in 2022 include brand new kitchen cabinets and counters, new carpet in living room and bedrooms, new entry tile in living room, new front entry door, and a Nest thermostat. The fully fenced in back and side yard provide privacy and ample room for outdoor activities. Relax on the front porch or the spacious back deck on cool summer evenings. The three extra parking spaces next to the one-stall garage not only provide room for more vehicles but also the opportunity to build a larger garage in the future. Quick access to the freeway. Close to schools and downtown St. Paul. Book your showing today!

7. 2024-03-11
   historical Contingent - Inspection 911-char remark

   Show marketing remark (911 chars)

   Historic Dayton’s Bluff gem! One level living in this nicely updated and move-in ready two-bedroom house. It features newer plumbing, electrical and duct work. High performing R48 attic insulation was added in 2023 to ensure low utility bills and a cozy environment inside the home. Other recent updates in 2022 include brand new kitchen cabinets and counters, new carpet in living room and bedrooms, new entry tile in living room, new front entry door, and a Nest thermostat. The fully fenced in back and side yard provide privacy and ample room for outdoor activities. Relax on the front porch or the spacious back deck on cool summer evenings. The three extra parking spaces next to the one-stall garage not only provide room for more vehicles but also the opportunity to build a larger garage in the future. Quick access to the freeway. Close to schools and downtown St. Paul. Book your showing today!

8. 2024-03-07
   listed $195,000 Active 911-char remark

   Show marketing remark (911 chars)

   Historic Dayton’s Bluff gem! One level living in this nicely updated and move-in ready two-bedroom house. It features newer plumbing, electrical and duct work. High performing R48 attic insulation was added in 2023 to ensure low utility bills and a cozy environment inside the home. Other recent updates in 2022 include brand new kitchen cabinets and counters, new carpet in living room and bedrooms, new entry tile in living room, new front entry door, and a Nest thermostat. The fully fenced in back and side yard provide privacy and ample room for outdoor activities. Relax on the front porch or the spacious back deck on cool summer evenings. The three extra parking spaces next to the one-stall garage not only provide room for more vehicles but also the opportunity to build a larger garage in the future. Quick access to the freeway. Close to schools and downtown St. Paul. Book your showing today!

9. 2024-02-29
   historical $195,000 911-char remark

   Show marketing remark (911 chars)

   Historic Dayton’s Bluff gem! One level living in this nicely updated and move-in ready two-bedroom house. It features newer plumbing, electrical and duct work. High performing R48 attic insulation was added in 2023 to ensure low utility bills and a cozy environment inside the home. Other recent updates in 2022 include brand new kitchen cabinets and counters, new carpet in living room and bedrooms, new entry tile in living room, new front entry door, and a Nest thermostat. The fully fenced in back and side yard provide privacy and ample room for outdoor activities. Relax on the front porch or the spacious back deck on cool summer evenings. The three extra parking spaces next to the one-stall garage not only provide room for more vehicles but also the opportunity to build a larger garage in the future. Quick access to the freeway. Close to schools and downtown St. Paul. Book your showing today!

10. 2022-06-03
    soldstatus $185,000 Sold

    Show marketing remark (204 chars)

    Great opportunity in Dayton Bluff's, close to parks, schools and easy freeway access. This home features a large deck, a fully fenced big yard, newer plumbing, electrical, duct work and one story living.

11. 2022-05-07
    status Pending

    Show marketing remark (204 chars)

    Great opportunity in Dayton Bluff's, close to parks, schools and easy freeway access. This home features a large deck, a fully fenced big yard, newer plumbing, electrical, duct work and one story living.

12. 2022-05-05
    listed $174,900 Active

    Show marketing remark (204 chars)

    Great opportunity in Dayton Bluff's, close to parks, schools and easy freeway access. This home features a large deck, a fully fenced big yard, newer plumbing, electrical, duct work and one story living.

13. 2022-04-29
    historical $174,900

    Show marketing remark (204 chars)

    Great opportunity in Dayton Bluff's, close to parks, schools and easy freeway access. This home features a large deck, a fully fenced big yard, newer plumbing, electrical, duct work and one story living.

14. 2013-06-06
    soldstatus $103,000
15. 2013-05-20
    soldstatus $103,000
16. 2013-04-02
    historical
17. 2012-11-21
    listed $107,900
18. 2012-04-12
    historical
19. 2012-03-30
    soldstatus $18,000
20. 2012-02-21
    listed $18,500
21. 2011-11-17
    historical
22. 2011-03-02
    listed $34,900
23. 2003-06-06
    soldstatus $94,000
24. 2003-03-28
    soldstatus $94,000
25. 2003-01-31
    historical
26. 2002-12-09
    listed $99,900
27. 2002-12-02
    historical
28. 2002-11-07
    listed $105,500
29. 2002-11-06
    historical
30. 2002-09-04
    listed $105,500
31. 2001-09-12
    soldstatus $79,000
32. 2001-05-25
    soldstatus $79,000
33. 2001-04-19
    historical
34. 2001-01-17
    listed $79,900
35. 1995-10-31
    soldstatus $10,000

ⓘ 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: $2,612 · $218/mo
• Projected year-2 tax: $2,612 · $218/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: $27,523
• − Mortgage interest: −$12,043
• − Property taxes: −$2,612
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,202
• − Management: −$2,202
• − Depreciation: −$6,255
• Taxable income: $1,135
• Est. tax owed @ 24.0%: −$272
• After-tax cash flow: $4,254/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): 56,708
• Household income: $70,187
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2046.0

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 0.75)
• Race & ethnicity: Asian 34% White 32% Black 15% Hispanic / Latino 11% Two or more races 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 4% Lithuanian 2% Romanian 2%
• Foreign-born: 25% · Canada, Philippines, Vietnam
• Languages at home: 59% English-only · Other Asian/Pacific 27% Spanish 9% French/Haitian/Cajun 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: ▼ -239.48%
• Current HPI: 288.7205
• Rent YoY: ▲ 6.26%
• 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

+2050.0% since first listed

36 events — show timeline

• 2026-05-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Listed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-12 Coming Soon $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-01 Sold (Public Records) $205,000 Public Records
• 2024-03-28 Sold (MLS) $205,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-07 Listed $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-29 Coming Soon $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-03 Sold (MLS) $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-05 Listed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-29 Coming Soon $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-06-06 Sold (Public Records) $103,000 Public Records
• 2013-05-20 Sold (MLS) $103,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-04-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-11-21 Listed $107,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-04-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-03-30 Sold (MLS) $18,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-02-21 Listed $18,500 NORTHSTARMLS as Distributed by MLS Grid
• 2011-11-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-03-02 Listed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-06-06 Sold (Public Records) $94,000 Public Records
• 2003-03-28 Sold (MLS) $94,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-01-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-12-09 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-12-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-11-07 Listed $105,500 NORTHSTARMLS as Distributed by MLS Grid
• 2002-11-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-09-04 Listed $105,500 NORTHSTARMLS as Distributed by MLS Grid
• 2001-09-12 Sold (Public Records) $79,000 Public Records
• 2001-05-25 Sold (MLS) $79,000 NORTHSTARMLS as Distributed by MLS Grid
• 2001-04-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-01-17 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 1995-10-31 Sold (Public Records) $10,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $2,612 · -5.4% YoY. Source: county tax records.