46 Winnipeg Ave · St. Paul, MN 55117

$245,000

4 bd · 1.0 ba · 1,208 sqft · SingleFamily public records · 75 Days on market

Built 1879 4,835 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 +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +6.4/10.0
• 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

Welcome to 46 Winnipeg Avenue, St. Paul MN! Move-in ready 3-bedroom, 1-bath home offering great space and value. This well-maintained property features an updated kitchen, updated bathroom, and newer furnace, is a perfect as a starter home or rental property, with a detached one-car garage and additional parking space, it also offers plenty of living space throughout. The home has solid mechanicals, conveniently located with easy access to major highways and public transportation, making commuting simple while staying close to everyday amenities. A great opportunity you won’t want to miss.

Key facts

• Newer furnace
• Updated kitchen
• Updated bathroom

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• NEWER FURNACE
• DETACHED GARAGE
• ADDITIONAL PARKING SPACE
• SOLID MECHANICALS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $230k (6.0% below list) — sets the bar for market timing.

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 (+3.6%/yr); 170 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $2,802/mo this rent would consume 48% 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 $2k of loan paydown is wiped out by about $7k 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 75 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 32y 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 1879 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $230,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 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 1879 — 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: 1.14% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.41%
• DSCR: 1.33
• GRM: 7.3

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: -4.2%
• Equity multiple: 0.84×
• Total profit: $-10,904
• Equity at exit: $36,530

10-year hold

• IRR: 6.2%
• Equity multiple: 1.48×
• Total profit: $32,744
• Equity at exit: $21,183

Cash invested: $68,600 (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: 7.3×

Monthly cashflow live

• Estimated rent: $2,802 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$403 /mo · $4,836/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $424

Break-even live

Break-even rent $2,266

Max offer price $245,000

Occupancy floor 80%

Sensitivity live

Price	-10% $562	-5% $493	+0% $424	+5% $354	+10% $285
Rent	-10% $202	-5% $313	+0% $424	+5% $534	+10% $645
Rate	-1.0pp $547	-0.5pp $486	base $424	+0.5pp $360	+1.0pp $296

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$3,700	$3.53	2d	23	1.44mi
333 Sibley St Saint Paul, MN	3.0	1.0–2.0	1358	$3,269	$2.41	11d	10	1.45mi

Listing history 38 events

1. 2026-04-08
   status Active 609-char remark

   Show marketing remark (609 chars)

   Welcome to 46 Winnipeg Avenue, St. Paul MN! Move-in ready 3-bedroom, 1-bath home offering great space and value. This well-maintained property features an updated kitchen, updated bathroom, and newer furnace, is a perfect as a starter home or rental property, with a detached one-car garage and additional parking space, it also offers plenty of living space throughout. The home has solid mechanicals, conveniently located with easy access to major highways and public transportation, making commuting simple while staying close to everyday amenities. A great opportunity you won’t want to miss.

2. 2026-03-30
   historical Contingent - Inspection 609-char remark

   Show marketing remark (609 chars)

   Welcome to 46 Winnipeg Avenue, St. Paul MN! Move-in ready 3-bedroom, 1-bath home offering great space and value. This well-maintained property features an updated kitchen, updated bathroom, and newer furnace, is a perfect as a starter home or rental property, with a detached one-car garage and additional parking space, it also offers plenty of living space throughout. The home has solid mechanicals, conveniently located with easy access to major highways and public transportation, making commuting simple while staying close to everyday amenities. A great opportunity you won’t want to miss.

3. 2026-03-12
   listed $245,000 Active 609-char remark

   Show marketing remark (609 chars)

   Welcome to 46 Winnipeg Avenue, St. Paul MN! Move-in ready 3-bedroom, 1-bath home offering great space and value. This well-maintained property features an updated kitchen, updated bathroom, and newer furnace, is a perfect as a starter home or rental property, with a detached one-car garage and additional parking space, it also offers plenty of living space throughout. The home has solid mechanicals, conveniently located with easy access to major highways and public transportation, making commuting simple while staying close to everyday amenities. A great opportunity you won’t want to miss.

4. 2025-02-14
   soldstatus $220,000
5. 2024-12-20
   status Pending 338-char remark

   Show marketing remark (338 chars)

   Move in ready home, 3 bedrooms, 1 full bathroom, lots of space. Great starter home or perfect rental. The property has been taken care of and lots of updates have been done in the last 3 months. The mechanicals are solid, maintenance free exterior. 1 car garage, easy access to highways, close to the bus line and much more. Easy to show.

6. 2024-12-19
   soldstatus $220,000 Sold 338-char remark

   Show marketing remark (338 chars)

   Move in ready home, 3 bedrooms, 1 full bathroom, lots of space. Great starter home or perfect rental. The property has been taken care of and lots of updates have been done in the last 3 months. The mechanicals are solid, maintenance free exterior. 1 car garage, easy access to highways, close to the bus line and much more. Easy to show.

7. 2024-11-25
   historical Contingent - Inspection 338-char remark

   Show marketing remark (338 chars)

   Move in ready home, 3 bedrooms, 1 full bathroom, lots of space. Great starter home or perfect rental. The property has been taken care of and lots of updates have been done in the last 3 months. The mechanicals are solid, maintenance free exterior. 1 car garage, easy access to highways, close to the bus line and much more. Easy to show.

8. 2024-11-12
   price $214,900 338-char remark

   Show marketing remark (338 chars)

   Move in ready home, 3 bedrooms, 1 full bathroom, lots of space. Great starter home or perfect rental. The property has been taken care of and lots of updates have been done in the last 3 months. The mechanicals are solid, maintenance free exterior. 1 car garage, easy access to highways, close to the bus line and much more. Easy to show.

9. 2024-10-25
   listed $224,900 Active 338-char remark

   Show marketing remark (338 chars)

   Move in ready home, 3 bedrooms, 1 full bathroom, lots of space. Great starter home or perfect rental. The property has been taken care of and lots of updates have been done in the last 3 months. The mechanicals are solid, maintenance free exterior. 1 car garage, easy access to highways, close to the bus line and much more. Easy to show.

10. 2024-10-21
    historical $224,900 338-char remark

    Show marketing remark (338 chars)

    Move in ready home, 3 bedrooms, 1 full bathroom, lots of space. Great starter home or perfect rental. The property has been taken care of and lots of updates have been done in the last 3 months. The mechanicals are solid, maintenance free exterior. 1 car garage, easy access to highways, close to the bus line and much more. Easy to show.

11. 2021-07-09
    soldstatus $500
12. 2018-10-23
    historical
13. 2018-10-09
    listed $149,900 Active
14. 2017-05-10
    soldstatus $106,000
15. 2017-05-05
    soldstatus $106,000 Sold
16. 2017-03-31
    status Pending
17. 2017-03-15
    historical Contingent - Inspection
18. 2017-03-08
    price $109,900
19. 2017-02-02
    listed $113,900 Active
20. 2017-01-21
    historical
21. 2017-01-06
    price $114,000
22. 2016-11-28
    price $117,000
23. 2016-10-28
    price $124,900
24. 2016-10-14
    listed $134,900 Active
25. 2008-07-25
    historical
26. 2008-07-07
    listed $125,000
27. 2008-02-05
    soldstatus $58,900
28. 2008-01-22
    historical
29. 2007-10-10
    listed $54,900
30. 2006-03-16
    soldstatus $185,000
31. 2000-09-01
    soldstatus $40,000
32. 2000-07-07
    historical
33. 2000-02-10
    listed $35,000
34. 1995-07-12
    soldstatus $56,500
35. 1995-05-04
    soldstatus $53,000
36. 1994-08-17
    historical
37. 1994-03-21
    listed $57,500
38. 1990-02-06
    soldstatus $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: $4,836 · $403/mo
• Projected year-2 tax: $4,836 · $403/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $33,626
• − Mortgage interest: −$13,724
• − Property taxes: −$4,836
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,690
• − Management: −$2,690
• − Depreciation: −$7,127
• Taxable income: $1,334
• Est. tax owed @ 24.0%: −$320
• After-tax cash flow: $4,766/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

+484.7% since first listed

38 events — show timeline

• 2026-04-08 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-30 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-12 Listed $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-14 Sold (Public Records) $220,000 Public Records
• 2024-12-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-19 Sold (MLS) $220,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-11-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-11-12 Price Changed $214,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-25 Listed $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-21 Coming Soon $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-09 Sold (Public Records) $500 Public Records
• 2018-10-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-10-09 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-10 Sold (Public Records) $106,000 Public Records
• 2017-05-05 Sold (MLS) $106,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-31 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-15 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-08 Price Changed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-02-02 Listed $113,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-01-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-01-06 Price Changed $114,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-11-28 Price Changed $117,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-10-28 Price Changed $124,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-10-14 Listed $134,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-07-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-07-07 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-05 Sold (MLS) $58,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-01-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-10-10 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-03-16 Sold (Public Records) $185,000 Public Records
• 2000-09-01 Sold (MLS) $40,000 NORTHSTARMLS as Distributed by MLS Grid
• 2000-07-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2000-02-10 Listed $35,000 NORTHSTARMLS as Distributed by MLS Grid
• 1995-07-12 Sold (Public Records) $56,500 Public Records
• 1995-05-04 Sold (Public Records) $53,000 Public Records
• 1994-08-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-03-21 Listed $57,500 NORTHSTARMLS as Distributed by MLS Grid
• 1990-02-06 Sold (Public Records) $41,900 Public Records

Property tax history

+9.5%/yr

Latest (2025): $4,836 · +43.8% YoY. Source: county tax records.