360 Sherman St #1607 · St. Paul, MN 55102

$200,000

2 bd · 2.0 ba · 1,237 sqft · Condo public records · 48 Days on market

Built 1981 $488/mo HOA · 18% of rent

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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 +21.7/30.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 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

This impeccable, move-in ready 16th floor St. Paul condo combines a stunning panoramic view with a beautifully updated space that feels both luxurious and inviting. Sky high in the heart of St. Paul, enjoy a bird’s eye view of gorgeous sunrises and sunsets over the Cathedral, Summit Ave mansions, and the backdrop of the Mississippi River with miles of treetop bluffs. You cannot fully appreciate this home and its views until you see it firsthand. Significant investments were made to enhance everyday comfort, long-term value, and overall visual appeal - including a redesigned kitchen layout featuring upgraded countertops and stainless steel appliances, refreshed paint and new flooring t

Key facts

• Panoramic view
• Upgraded countertops
• New ac

Tags

• PANORAMIC VIEW
• REDESIGNED KITCHEN LAYOUT
• UPGRADED COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• UPDATED BATHROOM
• NEW AC

Property features AI

Finance

• HOA & community: HOA managed by Nath Management; Monthly association fee of $488.39; Building amenities include elevator(s), fire sprinkler system and lobby entrance; Association fee covers controlled access, hazard insurance, lawn care, grounds maintenance, professional management, sewer, snow removal and water; Other association amenity: Other (unspecified)

Exterior

• Parking: Parking garage; Other parking
• Utilities: City water connected; City sewer connected; Electric service with circuit breakers and 100 amp service; Electric fuel
• Home design: Attached residential property; One level; Accessible elevator installed
• Construction: Foundation: Other; Foundation area: 1,255
• Exterior features: Stone exterior; Terrace; No pool; No fencing; City street frontage with paved streets, sidewalks and street lights; Publicly maintained roads

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Stainless steel appliances; Kitchen window
• Bedrooms: Two bedrooms (both on the main level)
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump; Wall unit(s) for cooling
• Interior features: All living facilities on one level; Renovated; Eat-in kitchen; Panoramic and city views; Intercom system; Cable available; Washer/dryer hookup; Two primary bathrooms
• Laundry & utility: In-unit laundry; Laundry closet; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

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 ($3k rent vs $200k).
• Recommended offer: $194k (3.0% 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 (+1.6%/yr); 145 active listings in the ZIP; 13 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).
• This rent runs 43% of the median local income ($76k/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.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y 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.

Recommended offer $194,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 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: 1.38% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 6.0

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: -8.1%
• Equity multiple: 0.71×
• Total profit: $-16,428
• Equity at exit: $29,821

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-3,137
• Equity at exit: $17,292

Cash invested: $56,000 (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: 145
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,762 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$256 /mo · $3,072/yr
• Insurance: −$83
• HOA: −$488
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $306

Break-even live

Break-even rent $2,375

Max offer price $200,000

Occupancy floor 84%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
253 Kellogg Blvd W Saint Paul, MN	2.0	1.0–2.0	1208	$3,198	$2.65	3d	12	0.30mi
400 Spring St Saint Paul, MN	1.0–2.0	1.0–2.0	1205	$3,275	$2.72	3d	31	0.40mi
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$2,940	$2.80	2d	23	0.72mi
101 10th St E Saint Paul, MN	3.0	1.0–2.0	887	$2,051	$2.31	2d	25	0.83mi
111 Kellogg Blvd E Saint Paul, MN	3.0	1.0–2.0	1000	$2,266	$2.27	2d	20	0.83mi
141 4th St E Saint Paul, MN	2.0	1.0–2.0	811	$2,420	$2.98	20d	20	0.88mi
333 Sibley St Saint Paul, MN	3.0	1.0–2.0	1358	$2,577	$1.90	10d	10	0.98mi
180 E Kellogg Blvd St Paul, MN	3.0	1.0–2.5	1436	$3,467	$2.41	2d	22	0.98mi
240 5th St E St Paul, MN	2.0	1.0–2.0	949	$2,770	$2.92	2d	10	1.04mi
250 6th St E St Paul, MN	2.0	1.0–2.0	980	$2,868	$2.93	2d	16	1.07mi
380 Randolph Ave Saint Paul, MN	2.0	1.0–2.0	753	$2,946	$3.91	2d	18	1.16mi
695 Grand Ave Saint Paul, MN	1.0–2.0	1.0–2.0	1130	$5,795	$5.13	18d	10	1.17mi
330 9th St E St Paul, MN	1.0–2.0	1.0	978	$2,495	$2.55	3d	3	1.20mi

HOA detail condo

• Monthly dues: $488 · $5,856/yr
• Likely covers: cable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $200,000 Active 48 DOM
2. 2026-06-17
   days on market $200,000 Active 47 DOM
3. 2026-06-16
   days on market $200,000 Active 46 DOM
4. 2026-06-15
   days on market $200,000 Active 45 DOM
5. 2026-06-13
   days on market $200,000 Active 43 DOM
6. 2026-06-09
   days on market $200,000 Active 39 DOM
7. 2026-06-08
   days on market $200,000 Active 38 DOM
8. 2026-06-07
   days on market $200,000 Active 37 DOM
9. 2026-06-04
   days on market $200,000 Active 34 DOM
10. 2026-06-03
    days on market $200,000 Active 33 DOM
11. 2026-06-02
    days on market $200,000 Active 32 DOM
12. 2026-06-01
    days on market $200,000 Active 31 DOM
13. 2026-05-31
    days on market $200,000 Active 30 DOM
14. 2026-05-01
    historical
15. 2026-04-30
    listed $200,000 Active 1662-char remark
16. 2026-04-03
    listed $205,000 Active
17. 2026-04-02
    price $205,000
18. 2026-03-27
    historical
19. 2026-03-01
    historical
20. 2025-09-11
    price $225,000
21. 2025-08-02
    listed $245,000 Active
22. 2025-07-31
    historical
23. 2020-02-27
    soldstatus $180,000
24. 2020-02-26
    soldstatus $180,000 Sold
25. 2020-02-03
    status Pending
26. 2020-01-04
    historical Contingent - Subject to Statutory Rescission
27. 2019-11-17
    price $189,000
28. 2019-11-08
    listed $199,000 Active
29. 2019-11-05
    historical
30. 2019-10-28
    status Active
31. 2019-09-30
    historical Contingent - Inspection
32. 2019-08-30
    listed $199,000 Active
33. 2002-08-29
    soldstatus $135,000

ⓘ 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: $3,072 · $256/mo
• Projected year-2 tax: $3,072 · $256/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $33,143
• − Mortgage interest: −$11,203
• − Property taxes: −$3,072
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,651
• − Management: −$2,651
• − HOA: −$5,856
• − Depreciation: −$5,818
• Taxable income: $891
• Est. tax owed @ 24.0%: −$214
• After-tax cash flow: $3,455/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

+48.1% since first listed

20 events — show timeline

• 2026-05-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Listed $200,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-03 Listed $205,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $205,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-27 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-11 Price Changed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-02 Listed $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-31 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-27 Sold (Public Records) $180,000 Public Records
• 2020-02-26 Sold (MLS) $180,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-01-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-11-17 Price Changed $189,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-11-08 Listed $199,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-11-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-28 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2019-09-30 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-08-30 Listed $199,000 NORTHSTARMLS as Distributed by MLS Grid
• 2002-08-29 Sold (Public Records) $135,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $3,072 · +6.4% YoY. Source: county tax records.