45 Albert St S #4 · St. Paul, MN 55105

$225,000

2 bd · 1.0 ba · 882 sqft · Condo public records · 22 Days on market

Built 1956 $366/mo HOA · 13% 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 +22.1/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious, light-filled, great location between Summit & Grand. Windows on 3 sides, no shared walls. Hrdwd floors, separate DR, tiled flrs in KT and BA, large closets, storage locker, free laundry, garage w. auto opener. Walk to Victoria & Grand.

Key facts

• $366 HOA
• Garage
• Built 1956

Property features AI

Finance

• HOA & community: Part of Grand Albert Condo Association; Monthly association fee; Association amenities include a common garden and other shared amenities; Association fee covers hazard insurance, heating, lawn care, grounds maintenance, shared amenities, and water

Exterior

• Parking: 1-car garage with garage door opener
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Attached residential property; One story; Pitched asphalt roof (age 8 years or less)
• Construction: Block foundation
• Exterior features: Stucco exterior; Partial fencing; Corner lot; Public transit within 6 blocks; City street frontage

Interior

• Kitchen: Kitchen with window; Range; Refrigerator
• Bedrooms: 2 bedrooms (both on the upper level)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 1 full bathroom (main floor full bath)
• Heating & cooling: Hot water baseboard heating; Central air conditioning
• Interior features: Hardwood floors; Natural woodwork; Tile floors; Separate formal dining room; Full basement
• Laundry & utility: Hot water heating (baseboard)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% 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 (+3.1%/yr); 124 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 32% of the median local income ($107k/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 $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 22 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; list at $225k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,625 (1.5% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.26% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.88%
• DSCR: 1.31
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.15% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-12,784
• Equity at exit: $33,548

10-year hold

• IRR: 4.5%
• Equity multiple: 1.34×
• Total profit: $21,223
• Equity at exit: $19,454

Cash invested: $63,000 (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 55105

• Rents YoY: 3.1%
• Active inventory: 124
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,828 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$233 /mo · $2,796/yr
• Insurance: −$94
• HOA: −$366
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $361

Break-even live

Break-even rent $2,370

Max offer price $225,000

Occupancy floor 82%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Snelling Ave N St Paul, MN	2.0	1.0–2.0	741	$2,598	$3.51	1d	8	0.53mi
1555 Selby Ave Saint Paul, MN	3.0	1.0–2.0	1129	$3,428	$3.04	2d	7	0.56mi
470 Lexington Pkwy S Saint Paul, MN	2.0	1.0–2.0	1175	$3,500	$2.98	1d	19	1.10mi
695 Grand Ave Saint Paul, MN	1.0–2.0	1.0–2.0	1130	$5,795	$5.13	17d	10	1.49mi

HOA detail condo

• Monthly dues: $366 · $4,392/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-17
   status $225,000 Pending 22 DOM
2. 2026-06-17
   days on market $225,000 Contingent - Inspection 22 DOM
3. 2026-06-16
   days on market $225,000 Contingent - Inspection 21 DOM
4. 2026-06-15
   days on market $225,000 Contingent - Inspection 20 DOM
5. 2026-06-13
   days on market $225,000 Contingent - Inspection 18 DOM
6. 2026-06-09
   days on market $225,000 Contingent - Inspection 14 DOM
7. 2026-06-08
   days on market $225,000 Contingent - Inspection 13 DOM
8. 2026-06-07
   days on market $225,000 Contingent - Inspection 12 DOM
9. 2026-06-04
   days on market $225,000 Contingent - Inspection 9 DOM
10. 2026-06-03
    days on market $225,000 Contingent - Inspection 8 DOM
11. 2026-06-02
    days on market $225,000 Contingent - Inspection 7 DOM
12. 2026-06-01
    days on market $225,000 Contingent - Inspection 6 DOM
13. 2026-05-31
    days on market $225,000 Contingent - Inspection 5 DOM
14. 2026-05-20
    historical $225,000
15. 2010-06-01
    soldstatus $140,000
16. 2010-04-22
    soldstatus $140,000 253-char remark

    Show marketing remark (253 chars)

    Spacious, light-filled, great location between Summit & Grand. Windows on 3 sides, no shared walls. Hrdwd floors, separate DR, tiled flrs in KT and BA, large closets, storage locker, free laundry, garage w. auto opener. Walk to Victoria & Grand.

17. 2010-03-30
    historical 253-char remark

    Show marketing remark (253 chars)

    Spacious, light-filled, great location between Summit & Grand. Windows on 3 sides, no shared walls. Hrdwd floors, separate DR, tiled flrs in KT and BA, large closets, storage locker, free laundry, garage w. auto opener. Walk to Victoria & Grand.

18. 2010-02-05
    listed $149,900 253-char remark

    Show marketing remark (253 chars)

    Spacious, light-filled, great location between Summit & Grand. Windows on 3 sides, no shared walls. Hrdwd floors, separate DR, tiled flrs in KT and BA, large closets, storage locker, free laundry, garage w. auto opener. Walk to Victoria & Grand.

19. 2003-01-08
    soldstatus $51,000
20. 2003-01-08
    soldstatus $91,000

ⓘ 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: $2,796 · $233/mo
• Projected year-2 tax: $2,796 · $233/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,933
• − Mortgage interest: −$12,603
• − Property taxes: −$2,796
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,715
• − Management: −$2,715
• − HOA: −$4,392
• − Depreciation: −$6,545
• Taxable income: $1,042
• Est. tax owed @ 24.0%: −$250
• After-tax cash flow: $4,085/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): 28,617
• Household income: $107,248
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 909.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 5% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 11% Romanian 4% Lithuanian 4%
• Foreign-born: 4% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 4% German/W. Germanic 1% Other Asian/Pacific 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: ▼ -562.23%
• Current HPI: 223.6008
• Rent YoY: ▲ 3.15%
• 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

+341.2% since first listed

7 events — show timeline

• 2026-05-20 Coming Soon $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-01 Sold (Public Records) $140,000 Public Records
• 2010-04-22 Sold (MLS) $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-03-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-02-05 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-01-08 Sold (Public Records) $91,000 Public Records
• 2003-01-08 Sold (Public Records) $51,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $2,796 · +6.4% YoY. Source: county tax records.