1283 Rice St · St. Paul, MN 55117

$283,000

3 bd · 2.5 ba · 1,706 sqft · SingleFamily public records · 94 Days on market

Built 1921 4,181 sqft lot $166/sqft · 26% below area Est $460k · 38% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.0/30.0
• DSCR +3.6/10.0
• Rent growth +3.4/5.0
• 1% rule +3.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained 3-bedroom, 3-bathroom home located in a charming neighborhood of Saint Paul. This property offers a functional layout with comfortable living spaces and plenty of room for everyday living and entertaining. The home features a 2-car garage along with two additional parking spaces, providing ample parking. Conveniently situated just minutes from local shops, dining, and everyday amenities. A great opportunity to own a home in a convenient and established Saint Paul location. ??

Key facts

• 4,181 sq ft lot
• 2 garage spots
• Built 1921

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $283k.

Deal economics

• At list price, monthly cash flow is $-66 ($-789/yr) — negative.
• To cash-flow at today's rent, offer at most $271k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (17.3% below list).
• Recommended offer: $234k (17.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — 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: Paul & Sheila Wellstone Elementary (math 8% / reading 17%, grade F, #800 of 857 statewide, top 95%, 507 students, 85% FRL); Murray Middle School (math 19% / reading 40%, grade F, #204 of 258 statewide, top 80%, 538 students, 64% FRL); Como Park Senior High (math 8% / reading 42%, grade F, #375 of 471 statewide, top 81%, 1,078 students, 75% FRL).
• Market conditions: Rents rising (+3.6%/yr); 175 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• This rent runs 40% of the median local income ($71k/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 $8k 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.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 29y 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 $230k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $233,971 (17.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 6.01%
• Cash-on-cash: -1.00%
• DSCR: 0.96
• GRM: 10.1

CMA / ARV

• ARV (median comp): $459,838
• List price: $283,000
• Delta: -38.46%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-48,618
• Equity at exit: $42,196

10-year hold

• IRR: -8.2%
• Equity multiple: 0.47×
• Total profit: $-41,789
• Equity at exit: $24,469

Cash invested: $79,240 (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: 175
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,340 medium
• Mortgage (P&I): −$1,484
• Tax from tax record: −$312 /mo · $3,746/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $-66

Break-even live

Break-even rent $2,423

Max offer price $271,378

Occupancy floor 98%

Sensitivity live

Price	-10% $94	-5% $14	+0% $-66	+5% $-146	+10% $-226
Rent	-10% $-251	-5% $-158	+0% $-66	+5% $27	+10% $119
Rate	-1.0pp $77	-0.5pp $6	base $-66	+0.5pp $-139	+1.0pp $-214

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: $70,750
• Closing costs: $8,490
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
585 Cottage Ave W Saint Paul, MN	4.0	2.0	1940	$2,995	$1.54	22d	1	0.94mi
1443 Saint Albans St N Saint Paul, MN	4.0	2.0	1500	$2,700	$1.80	19d	1	1.18mi
185 N McCarrons Blvd Roseville, MN	2.0	2.0	1254	$1,625	$1.30	26d	1	1.45mi

Listing history 43 events

1. 2026-06-21
   days on market $283,000 Active 94 DOM
2. 2026-06-18
   days on market $283,000 Active 91 DOM
3. 2026-06-17
   days on market $283,000 Active 90 DOM
4. 2026-06-16
   days on market $283,000 Active 89 DOM
5. 2026-06-15
   days on market $283,000 Active 88 DOM
6. 2026-06-13
   days on market $283,000 Active 86 DOM
7. 2026-06-09
   days on market $283,000 Active 82 DOM
8. 2026-06-08
   days on market $283,000 Active 81 DOM
9. 2026-06-07
   days on market $283,000 Active 80 DOM
10. 2026-06-04
    days on market $283,000 Active 77 DOM
11. 2026-06-03
    days on market $283,000 Active 76 DOM
12. 2026-06-02
    days on market $283,000 Active 75 DOM
13. 2026-06-01
    days on market $283,000 Active 74 DOM
14. 2026-05-31
    days on market $283,000 Active 73 DOM
15. 2026-04-28
    price $283,000 496-char remark

    Show marketing remark (496 chars)

    Well-maintained 3-bedroom, 3-bathroom home located in a charming neighborhood of Saint Paul. This property offers a functional layout with comfortable living spaces and plenty of room for everyday living and entertaining. The home features a 2-car garage along with two additional parking spaces, providing ample parking. Conveniently situated just minutes from local shops, dining, and everyday amenities. A great opportunity to own a home in a convenient and established Saint Paul location. ??

16. 2026-03-20
    listed $288,000 Active 496-char remark

    Show marketing remark (496 chars)

    Well-maintained 3-bedroom, 3-bathroom home located in a charming neighborhood of Saint Paul. This property offers a functional layout with comfortable living spaces and plenty of room for everyday living and entertaining. The home features a 2-car garage along with two additional parking spaces, providing ample parking. Conveniently situated just minutes from local shops, dining, and everyday amenities. A great opportunity to own a home in a convenient and established Saint Paul location. ??

17. 2026-03-18
    historical $288,000 496-char remark

    Show marketing remark (496 chars)

    Well-maintained 3-bedroom, 3-bathroom home located in a charming neighborhood of Saint Paul. This property offers a functional layout with comfortable living spaces and plenty of room for everyday living and entertaining. The home features a 2-car garage along with two additional parking spaces, providing ample parking. Conveniently situated just minutes from local shops, dining, and everyday amenities. A great opportunity to own a home in a convenient and established Saint Paul location. ??

18. 2024-10-14
    soldstatus $229,900
19. 2024-10-11
    soldstatus $229,900 Sold 735-char remark

    Show marketing remark (735 chars)

    Super cute 1.5 story home is available now for a quick close!!! The main floor offers beautiful hardwood floors with original builtin in the dining room and freshly painted throughout. Along with the large updated kitchen on the main floor you will find the large living, dining and family rooms along with the main bedroom and full bathroom. The updated kitchen comes with a stainless steel double bowl sink surrounded by a granite counter, and a new stainless steel refrigerator! Relax in your enclosed porch or out back in the fenced in yard with a deck for entertaining. Outside the fence there is a designated off-street parking next to the 2 cargarage. Hurry and come check out your new home today, it may not be here tomorrow!!!

20. 2024-10-08
    status Pending 735-char remark

    Show marketing remark (735 chars)

    Super cute 1.5 story home is available now for a quick close!!! The main floor offers beautiful hardwood floors with original builtin in the dining room and freshly painted throughout. Along with the large updated kitchen on the main floor you will find the large living, dining and family rooms along with the main bedroom and full bathroom. The updated kitchen comes with a stainless steel double bowl sink surrounded by a granite counter, and a new stainless steel refrigerator! Relax in your enclosed porch or out back in the fenced in yard with a deck for entertaining. Outside the fence there is a designated off-street parking next to the 2 cargarage. Hurry and come check out your new home today, it may not be here tomorrow!!!

21. 2024-09-25
    historical Contingent - Subject to Financing 735-char remark

    Show marketing remark (735 chars)

    Super cute 1.5 story home is available now for a quick close!!! The main floor offers beautiful hardwood floors with original builtin in the dining room and freshly painted throughout. Along with the large updated kitchen on the main floor you will find the large living, dining and family rooms along with the main bedroom and full bathroom. The updated kitchen comes with a stainless steel double bowl sink surrounded by a granite counter, and a new stainless steel refrigerator! Relax in your enclosed porch or out back in the fenced in yard with a deck for entertaining. Outside the fence there is a designated off-street parking next to the 2 cargarage. Hurry and come check out your new home today, it may not be here tomorrow!!!

22. 2024-09-16
    listed $229,900 Active 735-char remark

    Show marketing remark (735 chars)

    Super cute 1.5 story home is available now for a quick close!!! The main floor offers beautiful hardwood floors with original builtin in the dining room and freshly painted throughout. Along with the large updated kitchen on the main floor you will find the large living, dining and family rooms along with the main bedroom and full bathroom. The updated kitchen comes with a stainless steel double bowl sink surrounded by a granite counter, and a new stainless steel refrigerator! Relax in your enclosed porch or out back in the fenced in yard with a deck for entertaining. Outside the fence there is a designated off-street parking next to the 2 cargarage. Hurry and come check out your new home today, it may not be here tomorrow!!!

23. 2022-07-28
    price $1,895
24. 2017-07-26
    historical
25. 2017-07-26
    status Pending
26. 2017-07-08
    historical Contingent - Inspection
27. 2017-07-05
    price $159,900
28. 2017-06-21
    status Active
29. 2017-06-18
    historical Contingent - Inspection
30. 2017-06-03
    status Active
31. 2017-06-02
    historical Contingent - Inspection
32. 2017-05-27
    status Active
33. 2017-05-26
    listed $169,900 Active
34. 2017-05-26
    historical
35. 2011-12-16
    soldstatus $75,000
36. 2011-11-09
    historical
37. 2011-10-19
    listed $74,900
38. 2009-08-05
    historical
39. 2009-02-03
    listed $199,900
40. 1997-08-07
    soldstatus $72,000
41. 1997-06-28
    soldstatus $72,000
42. 1997-06-15
    historical
43. 1997-04-13
    listed $72,000

ⓘ 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: $3,746 · $312/mo
• Projected year-2 tax: $3,746 · $312/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: $28,077
• − Mortgage interest: −$15,852
• − Property taxes: −$3,746
• − Insurance: −$1,415
• − Repairs & maintenance: −$2,246
• − Management: −$2,246
• − Depreciation: −$8,233
• Taxable loss: −$5,662
• Est. tax savings @ 24.0%: +$1,359
• After-tax cash flow: $569/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

+293.1% since first listed

29 events — show timeline

• 2026-04-28 Price Changed $283,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-20 Listed $288,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-18 Coming Soon $288,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-14 Sold (Public Records) $229,900 Public Records
• 2024-10-11 Sold (MLS) $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-16 Listed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-28 Price Changed $1,895 RENT.
• 2017-07-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-08 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-05 Price Changed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-21 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-03 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-27 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-26 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-12-16 Sold (MLS) $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-11-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-10-19 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-08-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-02-03 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 1997-08-07 Sold (Public Records) $72,000 Public Records
• 1997-06-28 Sold (MLS) $72,000 NORTHSTARMLS as Distributed by MLS Grid
• 1997-06-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1997-04-13 Listed $72,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2025): $3,746 · -3.4% YoY. Source: county tax records.