877 Cottage Ave E · St. Paul, MN 55106

$375,000

4 bd · 2.0 ba · 2,482 sqft · MultiFamily public records · 2 Days on market

Built 1922 6,534 sqft lot

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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).

• Cash flow +13.3/30.0
• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• Rent growth +4.1/5.0
• DSCR +4.0/10.0
• 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 MLS

OUTSTANDING TRUE UP/DOWN DUPLEX- on private corner lot. Both units are vacant intentionally- would make a GREAT owner-occupied property. We believe previous rents charged are below market rate. Formerly owner occupied for many years before moving out and using soley as a rental property. EXTREMELY WELL MAINTAINED- Roof is 7 years old, freshly painted interior, redone hardwood floors, lots of windows, very light and bright. Each unit has a classic front sun porch which could be used in several ways by a new owner(office/possible bedroom). This property has it ALL-classic features like built in buffets, hutches, hardwood floors but remodeled kitchen (lower unit) and updated bathrooms by a former owner, who also installed new heating systems. Upgraded and updated electrical with separate utilities – two boilers/two electric meters. The large semi-finished lower level has lots of additional storage and recreation room potential. Also, there is an attic area for additional storage. Large 2 car garage with driveway parking as well. Any offers will be decided upon on 8/17/2025 at 7pm.

Key facts

• Built-in buffets
• Remodeled kitchen
• New heating systems

Tags

• PRIVATE ENTRY
• CLASSIC FRONT SUN PORCH
• BUILT-IN BUFFETS
• REMODELED KITCHEN
• UPDATED BATHROOMS
• NEW HEATING SYSTEMS

Property features AI

Finance

• Financial info: Gross income: $36,000; Water/sewer expense: $400; Trash expense: $400; Electric expense: $400; Insurance expense: $3,000; Maintenance expense: $500; Other expense: $500; Total of 2 rental units
• HOA & community: Community/deck and patio amenities

Exterior

• Parking: Asphalt driveway; Detached 2-car garage (22 x 20)
• Utilities: City water (connected); City sewer (in street); Electric service with circuit breakers, 100 amp; Natural gas
• Home design: Residential income property (duplex up and down); Two levels
• Construction: Block construction; Block foundation; Built with above-grade finished area totaling 2,482
• Exterior features: Stucco exterior; Deck and patio; Corner lot with light tree coverage

Interior

• Bedrooms: 4 bedrooms total; Each unit contains 2 bedrooms
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Boiler heating; No central cooling reported
• Interior features: Daylight/lookout basement windows; Full basement with shared access and storage space
• Laundry & utility: Laundry in basement/common area/lower level

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $0 ($2/yr) — positive. Per door: $0/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $348k (7.1% below list).
• Recommended offer: $348k (7.1% 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: Phalen Lake Hmong Studies Magnet (math 22% / reading 22%, grade F, #732 of 857 statewide, top 88%, 670 students, 82% FRL); Parkway Montessori/Community Middle (math 8% / reading 22%); Johnson Senior High (math 30% / reading 30%, grade F, #345 of 471 statewide, top 74%, 1,144 students, 83% FRL) — zoned schools average 83% FRL vs 64% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.3%/yr); 254 active listings in the ZIP; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $3,485/mo this rent would consume 60% of the median local household income ($70k/yr) (locally 2046% 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 $3k of loan paydown is wiped out by about $11k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 23y 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 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $348,500 (7.1% below list)

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 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.93% ✗
• Cap rate: 6.29%
• Cash-on-cash: 0.00%
• DSCR: 1.00
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.26% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.54×
• Total profit: $-48,798
• Equity at exit: $55,914

10-year hold

• IRR: 1.2%
• Equity multiple: 1.09×
• Total profit: $9,938
• Equity at exit: $32,423

Cash invested: $105,000 (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 55106

• Rents YoY: 6.3%
• Active inventory: 254
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $3,485 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$630 /mo · $7,562/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$732
• Net cashflow: $0

Break-even live

Break-even rent $3,485

Max offer price $375,000

Occupancy floor 95%

Sensitivity live

Price	-10% $212	-5% $106	+0% $0	+5% $-106	+10% $-212
Rent	-10% $-275	-5% $-137	+0% $0	+5% $138	+10% $276
Rate	-1.0pp $189	-0.5pp $96	base $0	+0.5pp $-97	+1.0pp $-196

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,484
Total (2 units)			$3,485

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-21
   remarks 699-char remark
2. 2026-06-21
   listed $375,000 Active 2 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: $7,562 · $630/mo
• Projected year-2 tax: $7,562 · $630/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: $41,820
• − Mortgage interest: −$21,006
• − Property taxes: −$7,562
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,346
• − Management: −$3,346
• − Depreciation: −$10,909
• Taxable loss: −$6,223
• Est. tax savings @ 24.0%: +$1,494
• After-tax cash flow: $1,496/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): 56,708
• Household income: $70,187
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2046.0

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 0.75)
• Race & ethnicity: Asian 34% White 32% Black 15% Hispanic / Latino 11% Two or more races 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 4% Lithuanian 2% Romanian 2%
• Foreign-born: 25% · Canada, Philippines, Vietnam
• Languages at home: 59% English-only · Other Asian/Pacific 27% Spanish 9% French/Haitian/Cajun 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: ▼ -239.48%
• Current HPI: 288.7205
• Rent YoY: ▲ 6.26%
• 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

+286.6% since first listed

27 events — show timeline

• 2026-06-19 Listed $375,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-08 Sold (Public Records) $350,000 Public Records
• 2025-10-02 Sold (MLS) $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-13 Listed $325,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-01 Coming Soon $325,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-06 Sold (Public Records) $209,900 Public Records
• 2014-05-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-30 Sold (MLS) $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-03-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-03-14 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2014-03-06 Listed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-16 Sold (MLS) $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-01 Listed $67,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-12-09 Listed $147,250 NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-03 Listed $180,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-02-13 Sold (Public Records) $272,400 Public Records
• 2004-01-16 Sold (MLS) $272,400 NORTHSTARMLS as Distributed by MLS Grid
• 2003-12-30 Sold (Public Records) $230,000 Public Records
• 2003-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-11-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-11-20 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-10-10 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 1997-07-17 Sold (Public Records) $97,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $7,562 · +10.6% YoY. Source: county tax records.