692 4th St E · St. Paul, MN 55106

$384,750

3 bd · 2.0 ba · 2,000 sqft · MultiFamily public records · 34 Days on market

Built 1900 4,312 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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Rent growth +4.1/5.0
• 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

Well located up and down duplex on St Pauls East Side offering strong long-term rental appeal in a stable and growing neighborhood. Convenient access to downtown St Paul, public transportation, Mississippi Market Co-Op, and the restaurants, shopping, and entertainment along East 7th Street. Property features a practical duplex layout with continued rental demand driven by the neighborhoods accessibility and proximity to downtown employment centers. Utilities are currently partially owner-paid with ownership implementing a RUBS utility reimbursement program across the portfolio beginning Q3 2026, creating additional NOI upside potential through utility cost recovery and operational efficienc

Key facts

• 4,312 sq ft lot
• Built 1900
• Listed 33 days

Property features AI

Finance

• Other: Other annual assessment amount reported
• Financial info: Property is owner-occupied: No; Two-unit building; Owner pays electricity, gas, trash collection and water; Tenants pay electricity and gas; Gross income reported as $32,223

Exterior

• Parking: On-street parking only
• Utilities: City water connected; City sewer connected; Electric and natural gas service available
• Home design: Residential income property (duplex, up-and-down); Two levels; Entry/accessibility features include wider doors
• Construction: Constructed with block, concrete and frame materials; Asphalt pitched roof (age 8 years or less); Foundation described as other with block foundation and foundation dimensions approx. 21 x 62
• Exterior features: Wood exterior; Partial fencing; Public transit within six blocks; City street frontage with curbs and paved streets; Publicly maintained road

Interior

• Kitchen: Each unit includes a range and refrigerator
• Bedrooms: Total of 4 bedrooms; Unit breakdown: one 2-bedroom unit and a second 2-bedroom unit
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating; No central cooling listed for either unit
• Interior features: Accessible doors 36" or wider; Level topography
• Laundry & utility: Laundry located in the basement; Each unit has a gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $385k.

Deal economics

• At list price, monthly cash flow is $907 ($11k/yr) — positive. Per door: $454/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $385k).
• Recommended offer: $373k (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 (+6.3%/yr); 255 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 $4,456/mo this rent would consume 76% 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 $12k 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 + 6.3% rent growth), your $108k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($373k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $373,207 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.16% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.11%
• DSCR: 1.45
• GRM: 7.2

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: 2.5%
• Equity multiple: 1.10×
• Total profit: $10,580
• Equity at exit: $57,367

10-year hold

• IRR: 15.0%
• Equity multiple: 2.39×
• Total profit: $150,021
• Equity at exit: $33,266

Cash invested: $107,730 (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: 255
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $4,456 high
• Mortgage (P&I): −$2,018
• Tax from tax record: −$435 /mo · $5,218/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$936
• Net cashflow: $907

Break-even live

Break-even rent $3,307

Max offer price $384,750

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,456
Total (2 units)			$4,456

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: $96,188
• Closing costs: $11,542
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 6th St E St Paul, MN	2.0	1.0–2.0	980	$2,868	$2.93	1d	16	0.95mi
240 5th St E St Paul, MN	2.0	1.0–2.0	949	$2,770	$2.92	2d	10	0.97mi
333 Sibley St Saint Paul, MN	3.0	1.0–2.0	1358	$3,269	$2.41	10d	10	1.04mi
180 E Kellogg Blvd St Paul, MN	3.0	1.0–2.5	1436	$4,595	$3.20	1d	22	1.06mi
111 Kellogg Blvd E Saint Paul, MN	3.0	1.0–2.0	1000	$2,783	$2.78	1d	20	1.21mi

Listing history 15 events

1. 2026-06-18
   days on market $384,750 Active 34 DOM
2. 2026-06-17
   days on market $384,750 Active 33 DOM
3. 2026-06-16
   days on market $384,750 Active 32 DOM
4. 2026-06-15
   days on market $384,750 Active 31 DOM
5. 2026-06-13
   days on market $384,750 Active 29 DOM
6. 2026-06-09
   days on market $384,750 Active 25 DOM
7. 2026-06-08
   days on market $384,750 Active 24 DOM
8. 2026-06-07
   days on market $384,750 Active 23 DOM
9. 2026-06-04
   days on market $384,750 Active 20 DOM
10. 2026-06-03
    days on market $384,750 Active 19 DOM
11. 2026-06-02
    days on market $384,750 Active 18 DOM
12. 2026-06-01
    days on market $384,750 Active 17 DOM
13. 2026-05-31
    days on market $384,750 Active 16 DOM
14. 2026-05-16
    listed $384,750 Active 1099-char remark
15. 2026-05-15
    historical $384,750 1099-char remark

ⓘ 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: $5,218 · $435/mo
• Projected year-2 tax: $5,218 · $435/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: $53,472
• − Mortgage interest: −$21,552
• − Property taxes: −$5,218
• − Insurance: −$1,924
• − Repairs & maintenance: −$4,278
• − Management: −$4,278
• − Depreciation: −$11,193
• Taxable income: $5,030
• Est. tax owed @ 24.0%: −$1,207
• After-tax cash flow: $9,682/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

+0.0% since first listed

2 events — show timeline

• 2026-05-16 Listed $384,750 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Coming Soon $384,750 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.9%/yr

Latest (2025): $5,218 · +4.9% YoY. Source: county tax records.