1562 Ivy Ave E · St. Paul, MN 55106

$360,000

5 bd · 3.0 ba · 1,857 sqft · MultiFamily public records · 42 Days on market

Built 1946 0.41 ac 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• 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: 3 units. confirmed

Listing remarks

Cash flowing triplex home on the greater east side in Saint Paul. Close to parks, shopping and schools. Strong rental history since current ownership. Each unit has its own floor with private access. Amazing opportunity for your next investment!

Key facts

• Close to parks
• Close to schools
• Triplex home

Tags

• TRIPLEX HOME
• PRIVATE ACCESS
• STRONG RENTAL HISTORY
• CLOSE TO PARKS
• CLOSE TO SHOPPING
• CLOSE TO SCHOOLS

Property features AI

Finance

• Other: Property not owner-occupied
• Financial info: Owner pays electricity, gas, trash collection and water; Gross income reported at $44,400; Expenses reported: Water/Sewer $1,381; Trash $912; Electric $4,032; Insurance $2,838; Maintenance $500; Other $1,000
• HOA & community: Association amenities include laundry and deck

Exterior

• Parking: Asphalt parking; Shared driveway; 2 garage spaces (no interior access to dwelling)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential income property (Triplex); Two levels; Block foundation
• Construction: Foundation area approximately 1,005 sq. ft.
• Exterior features: Deck; Partial wood fencing; Stucco exterior

Interior

• Kitchen: Cooktop, Range, Microwave, Refrigerator; Stainless steel appliances in one unit
• Bedrooms: Five total bedrooms; Unit breakdown: two 2-bedroom units and one 1-bedroom unit
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Three full bathrooms (one in each unit)
• Heating & cooling: Forced air heating; Window cooling in two units; Wall cooling in one unit
• Interior features: Finished basement; Ceiling fan(s); Natural woodwork; Paneled doors; Kitchen window
• Laundry & utility: Lower level laundry with sink; Association laundry amenity

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $524/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $360k).
• Recommended offer: $349k (3.0% 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 fast (+6.3%/yr); 255 active listings in the ZIP; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $5,241/mo this rent would consume 90% 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 $2k 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.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $101k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($349k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 24y 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 $300k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $349,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1946 — 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: 1.46% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.70%
• DSCR: 1.83
• GRM: 5.7

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: 14.2%
• Equity multiple: 1.59×
• Total profit: $59,615
• Equity at exit: $53,677

10-year hold

• IRR: 25.4%
• Equity multiple: 3.57×
• Total profit: $259,189
• Equity at exit: $31,126

Cash invested: $100,800 (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: 17.2×

Monthly cashflow live

• Estimated rent: $5,241 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$531 /mo · $6,376/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,101
• Net cashflow: $1,571

Break-even live

Break-even rent $3,252

Max offer price $360,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$5,241
Total (3 units)			$5,241

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $360,000 Active 42 DOM
2. 2026-06-17
   days on market $360,000 Active 41 DOM
3. 2026-06-16
   days on market $360,000 Active 40 DOM
4. 2026-06-15
   days on market $360,000 Active 39 DOM
5. 2026-06-13
   days on market $360,000 Active 37 DOM
6. 2026-06-09
   days on market $360,000 Active 33 DOM
7. 2026-06-08
   days on market $360,000 Active 32 DOM
8. 2026-06-07
   days on market $360,000 Active 31 DOM
9. 2026-06-04
   days on market $360,000 Active 28 DOM
10. 2026-06-03
    days on market $360,000 Active 27 DOM
11. 2026-06-02
    days on market $360,000 Active 26 DOM
12. 2026-06-01
    days on market $360,000 Active 25 DOM
13. 2026-05-31
    days on market $360,000 Active 24 DOM
14. 2026-05-07
    listed $360,000 Active 245-char remark
15. 2026-05-07
    historical
16. 2026-04-15
    price $360,000
17. 2026-03-20
    price $374,900
18. 2026-03-02
    status Active
19. 2026-02-24
    historical Contingent - Inspection
20. 2026-01-02
    listed $379,900 Active
21. 2025-11-13
    price $379,900
22. 2025-09-05
    price $385,000
23. 2025-09-03
    listed $410,000 Active
24. 2021-06-09
    soldstatus $300,000
25. 2021-05-18
    soldstatus $300,477 Sold
26. 2021-04-15
    status Pending
27. 2021-04-12
    listed $285,000 Active
28. 2021-04-01
    historical $285,000
29. 2016-06-06
    soldstatus $181,765
30. 2016-05-02
    soldstatus $182,000 Sold
31. 2016-02-29
    status Pending
32. 2016-02-17
    status Contingent - Inspection
33. 2016-02-13
    historical
34. 2016-01-29
    status Active
35. 2016-01-22
    historical
36. 2015-12-01
    price $179,000
37. 2015-11-19
    price $189,000
38. 2015-10-13
    price $199,000
39. 2015-10-12
    listed $199,900 Active
40. 2010-06-17
    soldstatus $110,502
41. 2010-05-26
    soldstatus $110,502
42. 2010-05-19
    historical
43. 2010-01-06
    listed $110,500
44. 2006-07-17
    soldstatus $230,500
45. 2006-07-17
    soldstatus $230,500
46. 2006-05-03
    historical
47. 2006-03-19
    listed $234,900
48. 2006-03-18
    historical
49. 2005-09-02
    listed $239,900
50. 2005-09-02
    historical

ⓘ 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: $6,376 · $531/mo
• Projected year-2 tax: $6,376 · $531/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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $62,892
• − Mortgage interest: −$20,166
• − Property taxes: −$6,376
• − Insurance: −$1,800
• − Repairs & maintenance: −$5,031
• − Management: −$5,031
• − Depreciation: −$10,473
• Taxable income: $14,015
• Est. tax owed @ 24.0%: −$3,364
• After-tax cash flow: $15,491/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

+100.1% since first listed

42 events — show timeline

• 2026-05-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Listed $360,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $360,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $374,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-02 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-24 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-02 Listed $379,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-13 Price Changed $379,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-05 Price Changed $385,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-03 Listed $410,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-09 Sold (Public Records) $300,000 Public Records
• 2021-05-18 Sold (MLS) $300,477 NORTHSTARMLS as Distributed by MLS Grid
• 2021-04-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-04-12 Listed $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-04-01 Coming Soon $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-06 Sold (Public Records) $181,765 Public Records
• 2016-05-02 Sold (MLS) $182,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-02-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-02-17 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2016-02-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-01-29 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2016-01-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-12-01 Price Changed $179,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-11-19 Price Changed $189,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-13 Price Changed $199,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-12 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-17 Sold (Public Records) $110,502 Public Records
• 2010-05-26 Sold (MLS) $110,502 NORTHSTARMLS as Distributed by MLS Grid
• 2010-05-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-01-06 Listed $110,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-07-17 Sold (Public Records) $230,500 Public Records
• 2006-07-17 Sold (MLS) $230,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-05-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-03-19 Listed $234,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-03-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-09-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-09-02 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-07-18 Listed $265,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-07-01 Sold (Public Records) $179,900 Public Records
• 2002-05-06 Sold (MLS) $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-04-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-02-07 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.3%/yr

Latest (2025): $6,376 · +14.6% YoY. Source: county tax records.