1259 Laurel Ave

St. Paul, MN 55104

$245,000B-

3 bd · 1.0 ba · 1,456 sqft · Built 1958 · SingleFamily · Coming Soon · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,926/mo
• Mortgage (P&I): −$1,285
• Tax + insurance: −$608
• HOA: −$0
• Vac / Maint / Mgmt: −$824
• Net cashflow: $1,209/mo
• Annual: $14,505/yr
• Cap rate: 12.21%
• Cash-on-cash: 21.14%
• DSCR: 1.94
• 1% rule: 1.60%
• Cash to close: $68,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $245k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $245k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• 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: Maxfield Elementary School (math 2% / reading 8%, grade F, #849 of 857 statewide, top 100%, 355 students, 94% FRL); Hidden River Middle School (math 21% / reading 39%, grade F, #199 of 258 statewide, top 78%, 559 students, 61% FRL); Central Senior High (math 52% / reading 67%, grade C+, #46 of 471 statewide, top 11%, 1,691 students, 49% FRL) — zoned schools at 68% FRL track the district average.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.5%/yr); 187 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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).
• 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 + 2.5% rent growth), your $69k cash investment doubles in ~6 years — after that, you're playing with house money.
• At $3,926/mo this rent would consume 62% of the median local household income ($76k/yr) (locally 2116% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.