313 Topping St · St. Paul, MN 55117

$265,000

4 bd · 2.0 ba · 1,728 sqft · MultiFamily public records · 29 Days on market

Built 1912 4,748 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

MUST ALLOW 24-HOUR NOTICE FOR UPPER TENANT. Up/Down duplex in very good condition. Internal and external stairways. Also, two separate laundry areas for each unit in the basement (which has lots of storage). Separate utilities-gas furnaces, water heaters, electric breaker boxes, central air units, and the roof on the home was pit on in 2021. HUGE 2.5 car garage (28x22) as well as a separate storage unit in the yard. Lower unit is vacant, and upper unit is month-to-month and would like to stay- she pays 1461 per month (she does not have garage access). The vacant lower unit had been paying 1770 a month. The lower unit has 3 bedrooms and 1 bath, and the upper unit has 2 bedrooms and 1 bath. Both units have natural woodwork and are in good condition. Fenced yard around the majority of the home This would be a great property to either owner-occupy or rent.

Key facts

• Separate utilities
• Up down duplex
• Lots of storage

Tags

• UP DOWN DUPLEX
• TWO SEPARATE LAUNDRY AREAS
• LOTS OF STORAGE
• SEPARATE UTILITIES
• CENTRAL AIR UNITS
• ROOF INSTALLED IN 2021

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $623/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Recommended offer: $261k (1.5% 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.
• Zoned schools: Paul & Sheila Wellstone Elementary (math 8% / reading 17%, grade F, #800 of 857 statewide, top 95%, 507 students, 85% FRL); Murray Middle School (math 19% / reading 40%, grade F, #204 of 258 statewide, top 80%, 538 students, 64% FRL); Como Park Senior High (math 8% / reading 42%, grade F, #375 of 471 statewide, top 81%, 1,078 students, 75% FRL).
• Market conditions: Rents rising (+3.6%/yr); 175 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $4,099/mo this rent would consume 70% of the median local household income ($71k/yr) (locally 1588% 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 $8k 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 $74k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $261,025 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.55% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.14%
• DSCR: 1.90
• GRM: 5.4

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: 13.1%
• Equity multiple: 1.53×
• Total profit: $39,032
• Equity at exit: $39,512

10-year hold

• IRR: 22.5%
• Equity multiple: 2.98×
• Total profit: $147,123
• Equity at exit: $22,912

Cash invested: $74,200 (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: 175
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $4,099 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$493 /mo · $5,912/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$861
• Net cashflow: $1,245

Break-even live

Break-even rent $2,522

Max offer price $265,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,395	-5% $1,320	+0% $1,245	+5% $1,170	+10% $1,095
Rent	-10% $922	-5% $1,084	+0% $1,245	+5% $1,407	+10% $1,569
Rate	-1.0pp $1,379	-0.5pp $1,313	base $1,245	+0.5pp $1,177	+1.0pp $1,107

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,098
Total (2 units)			$4,099

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
585 Cottage Ave W Saint Paul, MN	4.0	2.0	1940	$2,995	$1.54	22d	1	1.18mi
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$3,700	$3.53	3d	23	1.32mi
1443 Saint Albans St N Saint Paul, MN	4.0	2.0	1500	$2,700	$1.80	19d	1	1.40mi

Listing history 24 events

1. 2026-05-14
   status Pending 864-char remark

   Show marketing remark (864 chars)

   MUST ALLOW 24-HOUR NOTICE FOR UPPER TENANT. Up/Down duplex in very good condition. Internal and external stairways. Also, two separate laundry areas for each unit in the basement (which has lots of storage). Separate utilities-gas furnaces, water heaters, electric breaker boxes, central air units, and the roof on the home was pit on in 2021. HUGE 2.5 car garage (28x22) as well as a separate storage unit in the yard. Lower unit is vacant, and upper unit is month-to-month and would like to stay- she pays 1461 per month (she does not have garage access). The vacant lower unit had been paying 1770 a month. The lower unit has 3 bedrooms and 1 bath, and the upper unit has 2 bedrooms and 1 bath. Both units have natural woodwork and are in good condition. Fenced yard around the majority of the home This would be a great property to either owner-occupy or rent.

2. 2026-05-04
   historical Contingent - Inspection 864-char remark

   Show marketing remark (864 chars)

   MUST ALLOW 24-HOUR NOTICE FOR UPPER TENANT. Up/Down duplex in very good condition. Internal and external stairways. Also, two separate laundry areas for each unit in the basement (which has lots of storage). Separate utilities-gas furnaces, water heaters, electric breaker boxes, central air units, and the roof on the home was pit on in 2021. HUGE 2.5 car garage (28x22) as well as a separate storage unit in the yard. Lower unit is vacant, and upper unit is month-to-month and would like to stay- she pays 1461 per month (she does not have garage access). The vacant lower unit had been paying 1770 a month. The lower unit has 3 bedrooms and 1 bath, and the upper unit has 2 bedrooms and 1 bath. Both units have natural woodwork and are in good condition. Fenced yard around the majority of the home This would be a great property to either owner-occupy or rent.

3. 2026-04-15
   listed $265,000 Active 864-char remark

   Show marketing remark (864 chars)

   MUST ALLOW 24-HOUR NOTICE FOR UPPER TENANT. Up/Down duplex in very good condition. Internal and external stairways. Also, two separate laundry areas for each unit in the basement (which has lots of storage). Separate utilities-gas furnaces, water heaters, electric breaker boxes, central air units, and the roof on the home was pit on in 2021. HUGE 2.5 car garage (28x22) as well as a separate storage unit in the yard. Lower unit is vacant, and upper unit is month-to-month and would like to stay- she pays 1461 per month (she does not have garage access). The vacant lower unit had been paying 1770 a month. The lower unit has 3 bedrooms and 1 bath, and the upper unit has 2 bedrooms and 1 bath. Both units have natural woodwork and are in good condition. Fenced yard around the majority of the home This would be a great property to either owner-occupy or rent.

4. 2022-04-05
   soldstatus $253,000 Sold 277-char remark

   Show marketing remark (277 chars)

   True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

5. 2022-03-18
   status Pending 277-char remark

   Show marketing remark (277 chars)

   True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

6. 2022-03-08
   historical Contingent - Inspection 277-char remark

   Show marketing remark (277 chars)

   True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

7. 2022-03-05
   status Active 277-char remark

   Show marketing remark (277 chars)

   True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

8. 2022-03-03
   status Contingent - Inspection 277-char remark

   Show marketing remark (277 chars)

   True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

9. 2022-03-03
   price $240,000 277-char remark

   Show marketing remark (277 chars)

   True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

10. 2022-02-28
    historical 277-char remark

    Show marketing remark (277 chars)

    True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

11. 2022-01-17
    historical Contingent - Inspection 277-char remark

    Show marketing remark (277 chars)

    True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

12. 2022-01-13
    status Active 277-char remark

    Show marketing remark (277 chars)

    True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

13. 2022-01-13
    price $224,000 277-char remark

    Show marketing remark (277 chars)

    True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

14. 2021-12-14
    status Pending 277-char remark

    Show marketing remark (277 chars)

    True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

15. 2021-12-09
    historical Contingent - Inspection 277-char remark

    Show marketing remark (277 chars)

    True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

16. 2021-11-28
    price $210,000 277-char remark

    Show marketing remark (277 chars)

    True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

17. 2021-11-12
    historical
18. 2021-11-10
    listed $224,000 Active 277-char remark

    Show marketing remark (277 chars)

    True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

19. 2021-11-10
    listed $224,000 Active

    Show marketing remark (277 chars)

    True up & down Duplex w/separate gas forced air furnaces & CENTRAL AC. New 100 amp wiring services. New roof (total tear off) on main home 2021. Freshly painted & refinished Hardwood floors. ALL appliance stay. Oversized 28 x 22 garage, with room for all your toys.

20. 2009-05-01
    soldstatus $35,000
21. 2009-03-19
    historical
22. 2009-03-02
    listed $31,500
23. 2008-05-09
    historical
24. 2007-08-03
    listed $64,900

ⓘ 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: $5,912 · $493/mo
• Projected year-2 tax: $5,912 · $493/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: $49,188
• − Mortgage interest: −$14,844
• − Property taxes: −$5,912
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,935
• − Management: −$3,935
• − Depreciation: −$7,709
• Taxable income: $11,528
• Est. tax owed @ 24.0%: −$2,767
• After-tax cash flow: $12,179/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
• 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

+308.3% since first listed

24 events — show timeline

• 2026-05-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-15 Listed $265,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-05 Sold (MLS) $253,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-08 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-05 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-03 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-03 Price Changed $240,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-02-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-13 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-13 Price Changed $224,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-11-28 Price Changed $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-11-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2021-11-10 Listed $224,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-11-10 Listed $224,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-05-01 Sold (MLS) $35,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-02 Listed $31,500 NORTHSTARMLS as Distributed by MLS Grid
• 2008-05-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-08-03 Listed $64,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+19.5%/yr

Latest (2025): $5,912 · +16.5% YoY. Source: county tax records.