169 Sherburne Ave · St. Paul, MN 55103

$239,900

4 bd · 2.0 ba · 1,728 sqft · MultiFamily public records · 43 Days on market

Built 1874 3,310 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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Rent growth +3.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Fantastic Investment opportunity in this wild market. Perfect opportunity for a "house hacker". New school is coming in just across the street. Up-Down duplex in a super convenient location. 2 bedrooms on the main level and 2 bedrooms on the upper level. Separate gas and electric. Unit 1 has laundry and newer windows. Private back yard. Potential cash flow. Easy to show. Upper level showing for second show. Well taken care of by the owner who is a licensed general contractor and handyman. Great opportunity to own a duplex near the 1% rule.

Key facts

• 3,310 sq ft lot
• Built 1874
• Listed 43 days

Property features AI

Finance

• Other: Standard rental license in place
• Financial info: Property generates gross income of $32,604 and net operating income of $19,703; Owner pays water and sewer; tenants pay electricity, gas, trash collection and other utilities; Insurance expense listed as $2,193 and water/sewer expense listed as $3,000
• HOA & community: Association amenities include patio and porch

Exterior

• Parking: On-street parking only
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential income property — duplex (up and down); Two levels; Not owner-occupied
• Construction: Foundation area approximately 920 (foundation measurement provided)
• Exterior features: Stone, vinyl, and wood exterior; Medium tree coverage on the lot; Publicly maintained road access

Interior

• Kitchen: Range; Refrigerator; Kitchen available in each unit
• Bedrooms: Total of 4 bedrooms (2 bedrooms in each unit)
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Forced air heating
• Interior features: Crawl space basement; Porch; Deck; Covered front porch
• Laundry & utility: In-unit washer and dryer; Laundry room on main level and upper level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $233k (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 fast (+4.0%/yr); 44 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $2,975/mo this rent would consume 74% of the median local household income ($48k/yr) (locally 787% 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.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $67k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y 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 $202k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1874 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $232,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1874 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.24% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.45%
• DSCR: 1.42
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.05% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,877
• Equity at exit: $35,770

10-year hold

• IRR: 10.1%
• Equity multiple: 1.83×
• Total profit: $55,633
• Equity at exit: $20,742

Cash invested: $67,172 (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 55103

• Home prices YoY: -9.0%
• Rents YoY: 4.0%
• Active inventory: 44
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,975 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$463 /mo · $5,560/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $529

Break-even live

Break-even rent $2,306

Max offer price $239,900

Occupancy floor 77%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 10th St E Saint Paul, MN	3.0	1.0–2.0	887	$2,490	$2.81	2d	25	0.68mi
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$3,700	$3.53	2d	23	0.73mi
333 Sibley St Saint Paul, MN	3.0	1.0–2.0	1358	$3,269	$2.41	10d	10	1.10mi
111 Kellogg Blvd E Saint Paul, MN	3.0	1.0–2.0	1000	$2,783	$2.78	2d	20	1.14mi
180 E Kellogg Blvd St Paul, MN	3.0	1.0–2.5	1436	$4,595	$3.20	2d	22	1.21mi

Listing history 40 events

1. 2026-06-18
   days on market $239,900 Active 43 DOM
2. 2026-06-17
   days on market $239,900 Active 42 DOM
3. 2026-06-16
   days on market $239,900 Active 41 DOM
4. 2026-06-15
   days on market $239,900 Active 40 DOM
5. 2026-06-13
   days on market $239,900 Active 38 DOM
6. 2026-06-09
   days on market $239,900 Active 34 DOM
7. 2026-06-08
   days on market $239,900 Active 33 DOM
8. 2026-06-07
   days on market $239,900 Active 32 DOM
9. 2026-06-04
   days on market $239,900 Active 29 DOM
10. 2026-06-03
    days on market $239,900 Active 28 DOM
11. 2026-06-02
    days on market $239,900 Active 27 DOM
12. 2026-06-01
    days on market $239,900 Active 26 DOM
13. 2026-05-31
    days on market $239,900 Active 25 DOM
14. 2026-05-07
    listed $239,900 Active 1182-char remark
15. 2026-05-06
    historical $239,900 1182-char remark
16. 2025-02-01
    historical
17. 2024-07-23
    listed $229,999 Active
18. 2022-07-19
    soldstatus $201,529
19. 2022-07-06
    soldstatus $201,530 Sold

    Show marketing remark (555 chars)

    Fantastic Investment opportunity in this wild market. Perfect opportunity for a "house hacker". New school is coming in just across the street. Up-Down duplex in a super convenient location. 2 bedrooms on the main level and 2 bedrooms on the upper level. Separate gas and electric. Unit 1 has laundry and newer windows. Private back yard. Potential cash flow. Easy to show. Upper level showing for second show. Well taken care of by the owner who is a licensed general contractor and handyman. Great opportunity to own a duplex near the 1% rule.

20. 2022-05-09
    status Pending

    Show marketing remark (555 chars)

    Fantastic Investment opportunity in this wild market. Perfect opportunity for a "house hacker". New school is coming in just across the street. Up-Down duplex in a super convenient location. 2 bedrooms on the main level and 2 bedrooms on the upper level. Separate gas and electric. Unit 1 has laundry and newer windows. Private back yard. Potential cash flow. Easy to show. Upper level showing for second show. Well taken care of by the owner who is a licensed general contractor and handyman. Great opportunity to own a duplex near the 1% rule.

21. 2022-04-19
    price $209,900

    Show marketing remark (555 chars)

    Fantastic Investment opportunity in this wild market. Perfect opportunity for a "house hacker". New school is coming in just across the street. Up-Down duplex in a super convenient location. 2 bedrooms on the main level and 2 bedrooms on the upper level. Separate gas and electric. Unit 1 has laundry and newer windows. Private back yard. Potential cash flow. Easy to show. Upper level showing for second show. Well taken care of by the owner who is a licensed general contractor and handyman. Great opportunity to own a duplex near the 1% rule.

22. 2022-03-10
    status Active

    Show marketing remark (555 chars)

    Fantastic Investment opportunity in this wild market. Perfect opportunity for a "house hacker". New school is coming in just across the street. Up-Down duplex in a super convenient location. 2 bedrooms on the main level and 2 bedrooms on the upper level. Separate gas and electric. Unit 1 has laundry and newer windows. Private back yard. Potential cash flow. Easy to show. Upper level showing for second show. Well taken care of by the owner who is a licensed general contractor and handyman. Great opportunity to own a duplex near the 1% rule.

23. 2022-03-09
    status Pending

    Show marketing remark (555 chars)

    Fantastic Investment opportunity in this wild market. Perfect opportunity for a "house hacker". New school is coming in just across the street. Up-Down duplex in a super convenient location. 2 bedrooms on the main level and 2 bedrooms on the upper level. Separate gas and electric. Unit 1 has laundry and newer windows. Private back yard. Potential cash flow. Easy to show. Upper level showing for second show. Well taken care of by the owner who is a licensed general contractor and handyman. Great opportunity to own a duplex near the 1% rule.

24. 2022-03-08
    status Active

    Show marketing remark (555 chars)

    Fantastic Investment opportunity in this wild market. Perfect opportunity for a "house hacker". New school is coming in just across the street. Up-Down duplex in a super convenient location. 2 bedrooms on the main level and 2 bedrooms on the upper level. Separate gas and electric. Unit 1 has laundry and newer windows. Private back yard. Potential cash flow. Easy to show. Upper level showing for second show. Well taken care of by the owner who is a licensed general contractor and handyman. Great opportunity to own a duplex near the 1% rule.

25. 2022-02-26
    status Pending

    Show marketing remark (555 chars)

    Fantastic Investment opportunity in this wild market. Perfect opportunity for a "house hacker". New school is coming in just across the street. Up-Down duplex in a super convenient location. 2 bedrooms on the main level and 2 bedrooms on the upper level. Separate gas and electric. Unit 1 has laundry and newer windows. Private back yard. Potential cash flow. Easy to show. Upper level showing for second show. Well taken care of by the owner who is a licensed general contractor and handyman. Great opportunity to own a duplex near the 1% rule.

26. 2022-02-01
    listed $215,000 Active

    Show marketing remark (555 chars)

    Fantastic Investment opportunity in this wild market. Perfect opportunity for a "house hacker". New school is coming in just across the street. Up-Down duplex in a super convenient location. 2 bedrooms on the main level and 2 bedrooms on the upper level. Separate gas and electric. Unit 1 has laundry and newer windows. Private back yard. Potential cash flow. Easy to show. Upper level showing for second show. Well taken care of by the owner who is a licensed general contractor and handyman. Great opportunity to own a duplex near the 1% rule.

27. 2019-11-13
    historical
28. 2019-11-04
    price $139,900
29. 2019-10-26
    price $144,900
30. 2019-10-17
    price $149,900
31. 2019-10-03
    price $154,900
32. 2019-09-16
    price $159,900
33. 2019-08-29
    listed $164,900 Active
34. 2005-12-31
    historical
35. 2005-11-11
    listed $149,900
36. 2003-04-17
    soldstatus $103,000
37. 2003-01-14
    soldstatus $72,500
38. 1999-08-06
    soldstatus $28,000
39. 1999-07-23
    historical
40. 1999-06-07
    listed $34,900

ⓘ 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: $5,560 · $463/mo
• Projected year-2 tax: $5,560 · $463/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: $35,698
• − Mortgage interest: −$13,438
• − Property taxes: −$5,560
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,856
• − Management: −$2,856
• − Depreciation: −$6,979
• Taxable income: $2,810
• Est. tax owed @ 24.0%: −$674
• After-tax cash flow: $5,671/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): 13,125
• Household income: $48,390
• Rent vs Own: 58.3% rent · 41.7% own
• Severe rent burden: 787.0

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: White 34% Black 28% Asian 22% Hispanic / Latino 12% Two or more races 9% Native American 1%
• Hispanic origin (detail): Mexican 6% Cuban 4%
• Common ancestry: Portuguese 6% Lithuanian 2% Romanian 2%
• Foreign-born: 26% · Vietnam, Canada, Philippines
• Languages at home: 63% English-only · Other Asian/Pacific 16% Spanish 5% Vietnamese 3%

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: ▼ -32.28%
• Current HPI: 327.7672
• Rent YoY: ▲ 4.05%
• 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

+587.4% since first listed

27 events — show timeline

• 2026-05-07 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Coming Soon $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-23 Listed $229,999 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-19 Sold (Public Records) $201,529 Public Records
• 2022-07-06 Sold (MLS) $201,530 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-19 Price Changed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-10 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-08 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-02-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-02-01 Listed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-11-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-11-04 Price Changed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-26 Price Changed $144,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-17 Price Changed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-03 Price Changed $154,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-09-16 Price Changed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-08-29 Listed $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-12-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-11-11 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-04-17 Sold (Public Records) $103,000 Public Records
• 2003-01-14 Sold (Public Records) $72,500 Public Records
• 1999-08-06 Sold (MLS) $28,000 NORTHSTARMLS as Distributed by MLS Grid
• 1999-07-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1999-06-07 Listed $34,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+17.6%/yr

Latest (2025): $5,560 · +30.8% YoY. Source: county tax records.