26 10th St W #1005 · St. Paul, MN 55102

$80,000

1 bd · 1.0 ba · 685 sqft · Condo public records · 22 Days on market

Built 1980 $543/mo HOA · 30% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Best buy in downtown St. Paul. Sweet 1-BR condo w/excellent views. New carpeting & fresh paint. 1 BLK from new light rail station. Walking distance to state capitol, downtown restaurants & entertainment. Laundry on same floor. 24 Hr front desk security.

Key facts

• $543 HOA
• Garage
• Built 1980

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $79k (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.
• Zoned schools: Capitol Hill Magnet/Rondo (math 53% / reading 68%, grade B-, #203 of 857 statewide, top 24%, 1,082 students, 44% FRL); Hidden River Middle School (math 21% / reading 39%, grade F, #199 of 258 statewide, top 78%, 559 students, 61% FRL); Central Senior High (math 52% / reading 67%, grade C+, #46 of 471 statewide, top 11%, 1,691 students, 49% FRL).
• Zoned-school proficiency averages 50% at this address vs 27% district-wide (+23 pts) — the actual schools serving this property are materially stronger than the St. Paul Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.6%/yr); 148 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k 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 + 1.6% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y 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 $45k; list at $80k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 2.26% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.37%
• DSCR: 1.73
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.19×
• Total profit: $4,365
• Equity at exit: $11,928

10-year hold

• IRR: 12.6%
• Equity multiple: 1.91×
• Total profit: $20,380
• Equity at exit: $6,917

Cash invested: $22,400 (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 55102

• Rents YoY: 1.6%
• Active inventory: 148
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,806 high
• Mortgage (P&I): −$420
• Tax from tax record: −$125 /mo · $1,502/yr
• Insurance: −$33
• HOA: −$543
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $306

Break-even live

Break-even rent $1,419

Max offer price $80,000

Occupancy floor 78%

Sensitivity live

Price	-10% $351	-5% $328	+0% $306	+5% $283	+10% $260
Rent	-10% $163	-5% $234	+0% $306	+5% $377	+10% $448
Rate	-1.0pp $346	-0.5pp $326	base $306	+0.5pp $285	+1.0pp $264

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 10th St E Saint Paul, MN	2.0	1.0–2.0	853	$1,924	$2.25	0d	20	0.24mi
253 Kellogg Blvd W Saint Paul, MN	2.0	1.0–2.0	1208	$2,226	$1.84	4d	12	0.29mi
141 4th St E Saint Paul, MN	2.0	1.0–2.0	811	$1,776	$2.19	21d	20	0.48mi
111 Kellogg Blvd E Saint Paul, MN	3.0	1.0–2.0	1000	$1,749	$1.75	3d	20	0.50mi
333 Sibley St Saint Paul, MN	3.0	1.0–2.0	1358	$1,884	$1.39	11d	10	0.53mi
240 5th St E St Paul, MN	2.0	1.0–2.0	949	$2,040	$2.15	0d	9	0.58mi
250 6th St E St Paul, MN	2.0	1.0–2.0	980	$2,098	$2.14	0d	17	0.58mi
180 E Kellogg Blvd St Paul, MN	3.0	1.0–2.5	1436	$2,338	$1.63	0d	21	0.61mi
330 9th St E St Paul, MN	1.0–2.0	1.0	978	$1,445	$1.48	4d	3	0.64mi
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$2,181	$2.08	3d	23	0.87mi
400 Spring St Saint Paul, MN	1.0–2.0	1.0–2.0	1205	$1,500	$1.24	0d	32	0.93mi

HOA detail condo

• Monthly dues: $543 · $6,516/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-04-16
   status Pending
2. 2026-04-07
   historical Contingent - Inspection
3. 2026-03-26
   listed $80,000 Active
4. 2026-03-17
   historical $80,000
5. 2026-03-05
   historical
6. 2025-09-19
   listed $98,000 Active
7. 2013-06-20
   soldstatus $45,100
8. 2013-06-14
   soldstatus $45,100 261-char remark

   Show marketing remark (261 chars)

   Best buy in downtown St. Paul. Sweet 1-BR condo w/excellent views. New carpeting & fresh paint. 1 BLK from new light rail station. Walking distance to state capitol, downtown restaurants & entertainment. Laundry on same floor. 24 Hr front desk security.

9. 2013-05-23
   historical 261-char remark

   Show marketing remark (261 chars)

   Best buy in downtown St. Paul. Sweet 1-BR condo w/excellent views. New carpeting & fresh paint. 1 BLK from new light rail station. Walking distance to state capitol, downtown restaurants & entertainment. Laundry on same floor. 24 Hr front desk security.

10. 2013-05-20
    listed $39,900 261-char remark

    Show marketing remark (261 chars)

    Best buy in downtown St. Paul. Sweet 1-BR condo w/excellent views. New carpeting & fresh paint. 1 BLK from new light rail station. Walking distance to state capitol, downtown restaurants & entertainment. Laundry on same floor. 24 Hr front desk security.

11. 2011-01-10
    soldstatus $54,900
12. 2011-01-05
    soldstatus $54,900
13. 2010-11-29
    historical
14. 2010-08-18
    listed $54,900
15. 1998-08-30
    soldstatus $37,500
16. 1998-08-14
    historical
17. 1998-08-07
    listed $38,900

ⓘ 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: $1,502 · $125/mo
• Projected year-2 tax: $1,502 · $125/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: $21,670
• − Mortgage interest: −$4,481
• − Property taxes: −$1,502
• − Insurance: −$400
• − Repairs & maintenance: −$1,734
• − Management: −$1,734
• − HOA: −$6,516
• − Depreciation: −$2,327
• Taxable income: $2,976
• Est. tax owed @ 24.0%: −$714
• After-tax cash flow: $2,952/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): 19,630
• Household income: $76,406
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1116.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Lithuanian 5% Romanian 3%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 4% Other Indo-European 1% German/W. Germanic 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: ▼ -217.83%
• Current HPI: 241.7112
• Rent YoY: ▲ 1.60%
• 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

+105.7% since first listed

17 events — show timeline

• 2026-04-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-26 Listed $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-17 Coming Soon $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-19 Listed $98,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-06-20 Sold (Public Records) $45,100 Public Records
• 2013-06-14 Sold (MLS) $45,100 NORTHSTARMLS as Distributed by MLS Grid
• 2013-05-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-05-20 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-10 Sold (Public Records) $54,900 Public Records
• 2011-01-05 Sold (MLS) $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-11-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-08-18 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 1998-08-30 Sold (MLS) $37,500 NORTHSTARMLS as Distributed by MLS Grid
• 1998-08-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1998-08-07 Listed $38,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2025): $1,502 · +1.9% YoY. Source: county tax records.