89 Winnipeg Ave · St. Paul, MN 55117

$189,900

4 bd · 2.0 ba · 1,188 sqft · SingleFamily public records · 287 Days on market

Built 1879 6,403 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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Starter Home. Close to the Capital, restaurants. Property is in a need of updating. Great opportunity to build equity. Cash or Conventional loan only.

Key facts

• 6,403 sq ft lot
• 2 garage spots
• Built 1879

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.

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 (+3.6%/yr); 170 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• This rent runs 44% of the median local income ($71k/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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $53k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 287 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 26y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1879 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 287 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1879 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 10.48%
• Cash-on-cash: 14.97%
• DSCR: 1.67
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.6% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.25×
• Total profit: $13,150
• Equity at exit: $28,315

10-year hold

• IRR: 16.3%
• Equity multiple: 2.37×
• Total profit: $72,796
• Equity at exit: $16,419

Cash invested: $53,172 (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 55117

• Rents YoY: 3.6%
• Active inventory: 170
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,607 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$321 /mo · $3,852/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $663

Break-even live

Break-even rent $1,767

Max offer price $189,900

Occupancy floor 70%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	1.22mi
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$3,700	$3.53	2d	23	1.45mi

Listing history 46 events

1. 2026-06-18
   days on market $189,900 Active 287 DOM
2. 2026-06-17
   days on market $189,900 Active 286 DOM
3. 2026-06-16
   days on market $189,900 Active 285 DOM
4. 2026-06-15
   days on market $189,900 Active 284 DOM
5. 2026-06-13
   days on market $189,900 Active 282 DOM
6. 2026-06-09
   days on market $189,900 Active 278 DOM
7. 2026-06-08
   days on market $189,900 Active 277 DOM
8. 2026-06-07
   days on market $189,900 Active 276 DOM
9. 2026-06-04
   days on market $189,900 Active 273 DOM
10. 2026-06-03
    days on market $189,900 Active 272 DOM
11. 2026-06-02
    days on market $189,900 Active 271 DOM
12. 2026-06-01
    days on market $189,900 Active 270 DOM
13. 2026-05-31
    days on market $189,900 Active 269 DOM
14. 2026-03-04
    status Active 160-char remark

    Show marketing remark (160 chars)

    Great Starter Home. Close to the Capital, restaurants. Property is in a need of updating. Great opportunity to build equity. Cash or Conventional loan only.

15. 2026-03-04
    historical 160-char remark

    Show marketing remark (160 chars)

    Great Starter Home. Close to the Capital, restaurants. Property is in a need of updating. Great opportunity to build equity. Cash or Conventional loan only.

16. 2025-09-18
    price $189,900 160-char remark

    Show marketing remark (160 chars)

    Great Starter Home. Close to the Capital, restaurants. Property is in a need of updating. Great opportunity to build equity. Cash or Conventional loan only.

17. 2025-09-04
    listed $199,900 Active 160-char remark

    Show marketing remark (160 chars)

    Great Starter Home. Close to the Capital, restaurants. Property is in a need of updating. Great opportunity to build equity. Cash or Conventional loan only.

18. 2025-09-02
    historical
19. 2025-07-18
    historical Contingent - Inspection
20. 2025-06-10
    listed $199,900 Active
21. 2019-05-14
    soldstatus $140,000
22. 2019-04-30
    soldstatus $140,000 Sold
23. 2019-03-20
    status Pending
24. 2019-03-08
    historical Contingent - Inspection
25. 2019-02-04
    price $140,000
26. 2019-01-17
    price $154,900
27. 2018-12-21
    listed $170,000 Active
28. 2011-04-19
    soldstatus $94,900
29. 2011-03-15
    soldstatus $94,900
30. 2011-01-15
    historical
31. 2010-12-14
    listed $94,900
32. 2010-08-25
    soldstatus $35,000
33. 2010-08-17
    historical
34. 2010-04-23
    listed $38,500
35. 2006-11-23
    soldstatus $136,000
36. 2006-10-20
    historical
37. 2006-06-16
    historical
38. 2006-04-14
    listed $154,900
39. 2006-04-14
    listed $127,900
40. 2005-08-15
    historical
41. 2005-04-20
    listed $169,900
42. 2001-06-27
    soldstatus $132,000
43. 2001-03-23
    soldstatus $128,000
44. 2001-01-11
    historical
45. 2000-11-10
    listed $129,900
46. 1999-05-10
    soldstatus $74,000

ⓘ 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: $3,852 · $321/mo
• Projected year-2 tax: $3,852 · $321/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: $31,281
• − Mortgage interest: −$10,637
• − Property taxes: −$3,852
• − Insurance: −$950
• − Repairs & maintenance: −$2,502
• − Management: −$2,502
• − Depreciation: −$5,524
• Taxable income: $5,313
• Est. tax owed @ 24.0%: −$1,275
• After-tax cash flow: $6,685/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): 44,697
• Household income: $70,771
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1588.0

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 0.72)
• Race & ethnicity: White 44% Asian 24% Black 15% Hispanic / Latino 10% Two or more races 10%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 6% Romanian 3% Lithuanian 2%
• Foreign-born: 21% · Canada, Philippines, India
• Languages at home: 68% English-only · Other Asian/Pacific 15% Spanish 8% Other Indo-European 2%

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: ▼ -308.56%
• Current HPI: 267.4216
• Rent YoY: ▲ 3.60%
• 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

+156.6% since first listed

33 events — show timeline

• 2026-03-04 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-18 Price Changed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-04 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-10 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-14 Sold (Public Records) $140,000 Public Records
• 2019-04-30 Sold (MLS) $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-03-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-03-08 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-04 Price Changed $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-01-17 Price Changed $154,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-21 Listed $170,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-04-19 Sold (Public Records) $94,900 Public Records
• 2011-03-15 Sold (MLS) $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-14 Listed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-08-25 Sold (MLS) $35,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-08-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-23 Listed $38,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-11-23 Sold (MLS) $136,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-10-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-06-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-04-14 Listed $127,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-04-14 Listed $154,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-04-20 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2001-06-27 Sold (Public Records) $132,000 Public Records
• 2001-03-23 Sold (MLS) $128,000 NORTHSTARMLS as Distributed by MLS Grid
• 2001-01-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2000-11-10 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 1999-05-10 Sold (Public Records) $74,000 Public Records

Property tax history

+10.5%/yr

Latest (2025): $3,852 · +21.3% YoY. Source: county tax records.