244 Marshall Ave #3 · St. Paul, MN 55102

$210,000

3 bd · 1.0 ba · 1,124 sqft · Condo public records · 33 Days on market

Built 1913 $460/mo HOA · 15% of rent ↓ 5% since listing

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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 +25.0/30.0
• 1% rule +9.6/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Perched on Cathedral Hill in one of Saint Paul's most beloved neighborhoods, this 3-bedroom, 1-bath condo has charm. Built in 1913, the original craftsmanship is still front and center: hardwood floors, natural woodwork, and a dining room with built-in cabinetry that adds instant character. North-facing windows fill the space with consistent natural light, and the updated kitchen. Shared garage space, off-street parking, and onsite laundry provide the practical amenities to match its charm. All of this is just minutes from Downtown Saint Paul, the State Capitol, local restaurants, coffee shops, and easy access to major highways. Summit-University is one of the most connected and walkable ne

Key facts

• $460 HOA
• Garage
• Built 1913

Property features AI

Finance

• Other: Lot size about 0.321 acres
• HOA & community: Cathedral Terrace Condo Association; Monthly association fee of $460 (includes gas, heating, sewer, water); Association laundry amenity

Exterior

• Parking: 1-car garage
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Attached residential property; One story
• Construction: 1,000 sq ft foundation area
• Exterior features: Stone exterior; Deck; Patio; City street frontage

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Hot water heating; Wall unit(s) for cooling
• Interior features: Separate/formal dining room; Dishwasher, Range, Refrigerator
• Laundry & utility: Laundry in basement; Hot water heating; Wall unit cooling

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $454 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $204k (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 (+1.6%/yr); 145 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $3,073/mo this rent would consume 48% of the median local household income ($76k/yr) (locally 1116% 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 $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.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 23y 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 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $203,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 8.89%
• Cash-on-cash: 9.27%
• DSCR: 1.41
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.85×
• Total profit: $-9,006
• Equity at exit: $31,312

10-year hold

• IRR: 3.5%
• Equity multiple: 1.24×
• Total profit: $13,863
• Equity at exit: $18,157

Cash invested: $58,800 (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 55102

• Rents YoY: 1.6%
• Active inventory: 145
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $3,073 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$324 /mo · $3,894/yr
• Insurance: −$88
• HOA: −$460
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $454

Break-even live

Break-even rent $2,498

Max offer price $210,000

Occupancy floor 80%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
255 Western Ave N Saint Paul, MN	3.0	1.0–2.0	1049	$3,700	$3.53	2d	23	0.34mi
253 Kellogg Blvd W Saint Paul, MN	2.0	1.0–2.0	1208	$3,198	$2.65	3d	12	0.37mi
101 10th St E Saint Paul, MN	3.0	1.0–2.0	887	$2,490	$2.81	2d	25	0.74mi
400 Spring St Saint Paul, MN	1.0–2.0	1.0–2.0	1205	$3,275	$2.72	3d	31	0.85mi
111 Kellogg Blvd E Saint Paul, MN	3.0	1.0–2.0	1000	$2,783	$2.78	2d	20	1.00mi
141 4th St E Saint Paul, MN	2.0	1.0–2.0	811	$2,420	$2.98	20d	20	1.01mi
333 Sibley St Saint Paul, MN	3.0	1.0–2.0	1358	$3,269	$2.41	10d	10	1.07mi
695 Grand Ave Saint Paul, MN	1.0–2.0	1.0–2.0	1130	$5,795	$5.13	18d	10	1.11mi
240 5th St E St Paul, MN	2.0	1.0–2.0	949	$2,770	$2.92	2d	10	1.12mi
250 6th St E St Paul, MN	2.0	1.0–2.0	980	$2,868	$2.93	2d	16	1.13mi
180 E Kellogg Blvd St Paul, MN	3.0	1.0–2.5	1436	$4,595	$3.20	2d	22	1.13mi
330 9th St E St Paul, MN	1.0–2.0	1.0	978	$2,495	$2.55	3d	3	1.17mi
380 Randolph Ave Saint Paul, MN	2.0	1.0–2.0	753	$2,946	$3.91	2d	18	1.49mi

HOA detail condo

• Monthly dues: $460 · $5,520/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-05-18
   status Pending
2. 2026-04-28
   historical Contingent - Inspection
3. 2026-04-16
   listed $210,000 Active
4. 2026-04-14
   historical $210,000
5. 2018-06-20
   soldstatus $210,000
6. 2018-06-01
   soldstatus $210,000
7. 2018-04-11
   historical
8. 2018-03-15
   listed $210,000 Active
9. 2015-10-26
   historical
10. 2015-09-01
    listed $164,900 Active
11. 2015-09-01
    historical
12. 2015-08-26
    status Active
13. 2015-08-18
    historical Contingent - Inspection
14. 2015-08-10
    price $164,900
15. 2015-07-24
    listed $169,900 Active
16. 2008-11-14
    soldstatus $188,000
17. 2008-11-05
    soldstatus $188,000
18. 2008-09-29
    historical
19. 2008-08-18
    listed $195,000
20. 2008-08-11
    historical
21. 2008-02-25
    listed $200,000
22. 2008-02-18
    historical
23. 2007-09-07
    listed $221,000
24. 2007-09-04
    historical
25. 2007-09-04
    listed $221,000
26. 2006-06-19
    historical
27. 2006-04-12
    listed $238,400
28. 2005-07-27
    soldstatus $230,000
29. 2005-07-27
    soldstatus $230,000
30. 2005-06-10
    historical
31. 2005-03-15
    listed $229,000
32. 2004-03-02
    soldstatus $219,900
33. 2003-12-10
    soldstatus $219,900
34. 2003-10-28
    historical
35. 2003-10-20
    listed $219,900

ⓘ 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: $3,894 · $324/mo
• Projected year-2 tax: $3,894 · $324/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: $36,872
• − Mortgage interest: −$11,763
• − Property taxes: −$3,894
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,950
• − Management: −$2,950
• − HOA: −$5,520
• − Depreciation: −$6,109
• Taxable income: $2,636
• Est. tax owed @ 24.0%: −$633
• After-tax cash flow: $4,817/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): 19,630
• Household income: $76,406
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1116.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Lithuanian 5% Romanian 3%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 4% Other Indo-European 1% German/W. Germanic 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: ▼ -217.83%
• Current HPI: 241.7112
• Rent YoY: ▲ 1.60%
• 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

-4.5% since first listed

35 events — show timeline

• 2026-05-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-28 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-16 Listed $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Coming Soon $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-20 Sold (Public Records) $210,000 Public Records
• 2018-06-01 Sold (MLS) $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-04-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-03-15 Listed $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-01 Listed $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-26 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-10 Price Changed $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-24 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-14 Sold (Public Records) $188,000 Public Records
• 2008-11-05 Sold (MLS) $188,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-09-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-18 Listed $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-25 Listed $200,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-09-07 Listed $221,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-09-04 Listed $221,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-09-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-06-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-04-12 Listed $238,400 NORTHSTARMLS as Distributed by MLS Grid
• 2005-07-27 Sold (Public Records) $230,000 Public Records
• 2005-07-27 Sold (MLS) $230,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-03-15 Listed $229,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-03-02 Sold (Public Records) $219,900 Public Records
• 2003-12-10 Sold (MLS) $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-10-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-10-20 Listed $219,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2025): $3,894 · +13.1% YoY. Source: county tax records.