627 Palace Ave · St. Paul, MN 55102

$150,000

2 bd · 2.0 ba · 1,402 sqft · MultiFamily public records · 10 Days on market

Built 1884 4,486 sqft lot

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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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Excellent investment opportunity in a prime Saint Paul location! This up/down duplex features two 2-bedroom, 1-bathroom units and offers significant value-add potential for investors looking to build equity and increase cash flow. Major exterior improvements have already been completed, including newer siding, a newer roof, and newer chain-link fencing surrounding the large, flat corner lot. An oversized detached 1-car garage provides additional storage and rental appeal. While the property requires updates and repairs, it presents an opportunity to renovate, increase rents, and maximize returns. Whether you're expanding your portfolio, pursuing a BRRRR strategy, or seeking a property with

Key facts

• Newer roof
• Newer siding
• Prime location

Tags

• INVESTMENT OPPORTUNITY
• PRIME LOCATION
• NEWER SIDING
• NEWER ROOF
• LARGE FLAT CORNER LOT
• OVERSIZED DETACHED GARAGE

Property features AI

Finance

• Other: Property listed as residential income with 2 total units; Building total area approximately 2,146

Exterior

• Parking: Detached/attached garage with asphalt and concrete surfaces; Garage door opener; 1-car garage (approx. 21 x 17)
• Utilities: City water (connected); City sewer (connected); Natural gas fuel; Electric service with circuit breakers
• Home design: Residential income property — duplex (up and down); Two-story building; Not owner occupied
• Construction: Asphalt, pitched roof (age 8 years or less); Foundation area approximately 744 (other foundation type); Above-grade finished area and living area reported
• Exterior features: Vinyl exterior; Chain-link full fencing; Corner lot with medium tree coverage; Paved city streets with public maintenance

Interior

• Kitchen: Appliances not specified
• Bedrooms: 4 bedrooms total (property contains two 2-bedroom units)
• Bathrooms: 2 bathrooms total (each unit has 1 full bathroom)
• Heating & cooling: Forced air heating
• Interior features: Crawl space and partial basement; Two levels
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $150k).

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.
• Market conditions: Rents rising (+1.6%/yr); 145 active listings in the ZIP; 6 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).
• At $5,823/mo this rent would consume 91% of the median local household income ($76k/yr) (locally 1116% 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 $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 34y 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 $57k; list at $150k implies a 163% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1884 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1884 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 3.88% ✓
• Cap rate: 32.50%
• Cash-on-cash: 93.60%
• DSCR: 5.16
• GRM: 2.1

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: 92.8%
• Equity multiple: 5.20×
• Total profit: $176,511
• Equity at exit: $22,365

10-year hold

• IRR: 95.3%
• Equity multiple: 10.31×
• Total profit: $391,164
• Equity at exit: $12,969

Cash invested: $42,000 (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: 4.3×

Monthly cashflow live

• Estimated rent: $5,823 high
• Mortgage (P&I): −$787
• Tax from tax record: −$475 /mo · $5,702/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,223
• Net cashflow: $3,276

Break-even live

Break-even rent $1,676

Max offer price $150,000

Occupancy floor 39%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,824
Total (2 units)			$5,823

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
380 Randolph Ave Saint Paul, MN	2.0	1.0–2.0	753	$2,946	$3.91	2d	18	0.49mi
695 Grand Ave Saint Paul, MN	1.0–2.0	1.0–2.0	1130	$5,795	$5.13	18d	10	0.79mi
740 Victoria St S Saint Paul, MN	3.0	1.0–2.0	1076	$2,906	$2.70	2d	39	0.82mi
470 Lexington Pkwy S Saint Paul, MN	2.0	1.0–2.0	1175	$3,500	$2.98	2d	19	0.99mi
400 Spring St Saint Paul, MN	1.0–2.0	1.0–2.0	1205	$3,275	$2.72	3d	31	1.15mi
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$2,940	$2.80	2d	23	1.45mi

Listing history 7 events

1. 2026-06-16
   statusdays on market $150,000 Pending 10 DOM
2. 2026-06-15
   days on market $150,000 Active 9 DOM
3. 2026-06-13
   days on market $150,000 Active 7 DOM
4. 2026-06-09
   days on market $150,000 Active 3 DOM
5. 2026-06-08
   days on market $150,000 Active 2 DOM
6. 2026-06-07
   remarks 699-char remark
7. 2026-06-07
   listed $150,000 Active 1 DOM

ⓘ 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: $5,702 · $475/mo
• Projected year-2 tax: $5,702 · $475/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 ≥100°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: $69,876
• − Mortgage interest: −$8,402
• − Property taxes: −$5,702
• − Insurance: −$750
• − Repairs & maintenance: −$5,590
• − Management: −$5,590
• − Depreciation: −$4,364
• Taxable income: $39,478
• Est. tax owed @ 24.0%: −$9,475
• After-tax cash flow: $29,836/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

+163.6% since first listed

5 events — show timeline

• 2026-06-06 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 1993-12-15 Sold (Public Records) $57,000 Public Records
• 1993-11-13 Sold (MLS) $57,000 NORTHSTARMLS as Distributed by MLS Grid
• 1993-11-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1992-10-26 Listed $56,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+11.6%/yr

Latest (2025): $5,702 · +13.5% YoY. Source: county tax records.