893 Jenks Ave · St. Paul, MN 55106

$374,000

16 bd · 16.0 ba · 4,362 sqft · MultiFamily public records · 227 Days on market

Built 1889 4,486 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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• 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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Turnkey Investment Opportunity – Fully Rented 4-Unit in St. Paul. Don’t miss this excellent income-producing property in the heart of St. Paul! This well-maintained fourplex features four 1-bedroom / 1-bathroom units, all currently rented and generating steady cash flow. Each unit includes private forced air heating system with individual thermostat, Dedicated 50 Amp electrical panel, Individual 40-gallon water heater. One unit was just updated. Utilities: Tenants pay gas and electric, Owner pays trash, water, sewer, lawn care, snow removal, and common area electricity. Additional Amenities: Off-street parking behind the building, Lockable basement storage units for each tenant, Coin-operated washer and dryer in the basement for added income. Close to shopping, bike trails, and public transit. This property offers low-maintenance ownership with separate mechanicals for each unit, making it ideal for both seasoned investors and those new to multifamily real estate. Fully rented and ready to produce income from day one. Schedule your showing today!

Key facts

• Fully rented 4-unit
• Updated unit
• Off-street parking

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• FULLY RENTED 4-UNIT
• INCOME-PRODUCING PROPERTY
• WELL-MAINTAINED FOURPLEX
• UPDATED UNIT
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $374k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $351/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $374k).
• Recommended offer: $329k (12.0% 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 $5,258/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 $3k 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 $105k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 25y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $310k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $329,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% 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 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.41% ✓
• Cap rate: 10.79%
• Cash-on-cash: 16.07%
• DSCR: 1.72
• GRM: 5.9

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: 10.8%
• Equity multiple: 1.45×
• Total profit: $46,704
• Equity at exit: $55,765

10-year hold

• IRR: 22.5%
• Equity multiple: 3.24×
• Total profit: $234,568
• Equity at exit: $32,337

Cash invested: $104,720 (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: 23.7×

Monthly cashflow live

• Estimated rent: $5,258 medium
• Mortgage (P&I): −$1,961
• Tax from tax record: −$634 /mo · $7,612/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,104
• Net cashflow: $1,402

Break-even live

Break-even rent $3,483

Max offer price $374,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$5,256
Total (4 units)			$5,258

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: $93,500
• Closing costs: $11,220
• Reserves months: —
• Total cash needed: —

Listing history 43 events

1. 2026-06-18
   days on market $374,000 Active 227 DOM
2. 2026-06-17
   days on market $374,000 Active 226 DOM
3. 2026-06-16
   days on market $374,000 Active 225 DOM
4. 2026-06-15
   days on market $374,000 Active 224 DOM
5. 2026-06-13
   days on market $374,000 Active 222 DOM
6. 2026-06-09
   days on market $374,000 Active 218 DOM
7. 2026-06-08
   days on market $374,000 Active 217 DOM
8. 2026-06-07
   days on market $374,000 Active 216 DOM
9. 2026-06-04
   days on market $374,000 Active 213 DOM
10. 2026-06-03
    days on market $374,000 Active 212 DOM
11. 2026-06-02
    days on market $374,000 Active 211 DOM
12. 2026-06-01
    days on market $374,000 Active 210 DOM
13. 2026-05-31
    days on market $374,000 Active 209 DOM
14. 2026-04-29
    status Active 1074-char remark

    Show marketing remark (1074 chars)

    Turnkey Investment Opportunity – Fully Rented 4-Unit in St. Paul. Don’t miss this excellent income-producing property in the heart of St. Paul! This well-maintained fourplex features four 1-bedroom / 1-bathroom units, all currently rented and generating steady cash flow. Each unit includes private forced air heating system with individual thermostat, Dedicated 50 Amp electrical panel, Individual 40-gallon water heater. One unit was just updated. Utilities: Tenants pay gas and electric, Owner pays trash, water, sewer, lawn care, snow removal, and common area electricity. Additional Amenities: Off-street parking behind the building, Lockable basement storage units for each tenant, Coin-operated washer and dryer in the basement for added income. Close to shopping, bike trails, and public transit. This property offers low-maintenance ownership with separate mechanicals for each unit, making it ideal for both seasoned investors and those new to multifamily real estate. Fully rented and ready to produce income from day one. Schedule your showing today!

15. 2026-04-19
    historical Contingent - Inspection 1074-char remark

    Show marketing remark (1074 chars)

    Turnkey Investment Opportunity – Fully Rented 4-Unit in St. Paul. Don’t miss this excellent income-producing property in the heart of St. Paul! This well-maintained fourplex features four 1-bedroom / 1-bathroom units, all currently rented and generating steady cash flow. Each unit includes private forced air heating system with individual thermostat, Dedicated 50 Amp electrical panel, Individual 40-gallon water heater. One unit was just updated. Utilities: Tenants pay gas and electric, Owner pays trash, water, sewer, lawn care, snow removal, and common area electricity. Additional Amenities: Off-street parking behind the building, Lockable basement storage units for each tenant, Coin-operated washer and dryer in the basement for added income. Close to shopping, bike trails, and public transit. This property offers low-maintenance ownership with separate mechanicals for each unit, making it ideal for both seasoned investors and those new to multifamily real estate. Fully rented and ready to produce income from day one. Schedule your showing today!

16. 2026-02-21
    price $374,000 1074-char remark

    Show marketing remark (1074 chars)

    Turnkey Investment Opportunity – Fully Rented 4-Unit in St. Paul. Don’t miss this excellent income-producing property in the heart of St. Paul! This well-maintained fourplex features four 1-bedroom / 1-bathroom units, all currently rented and generating steady cash flow. Each unit includes private forced air heating system with individual thermostat, Dedicated 50 Amp electrical panel, Individual 40-gallon water heater. One unit was just updated. Utilities: Tenants pay gas and electric, Owner pays trash, water, sewer, lawn care, snow removal, and common area electricity. Additional Amenities: Off-street parking behind the building, Lockable basement storage units for each tenant, Coin-operated washer and dryer in the basement for added income. Close to shopping, bike trails, and public transit. This property offers low-maintenance ownership with separate mechanicals for each unit, making it ideal for both seasoned investors and those new to multifamily real estate. Fully rented and ready to produce income from day one. Schedule your showing today!

17. 2026-01-31
    price $389,000 1074-char remark

    Show marketing remark (1074 chars)

    Turnkey Investment Opportunity – Fully Rented 4-Unit in St. Paul. Don’t miss this excellent income-producing property in the heart of St. Paul! This well-maintained fourplex features four 1-bedroom / 1-bathroom units, all currently rented and generating steady cash flow. Each unit includes private forced air heating system with individual thermostat, Dedicated 50 Amp electrical panel, Individual 40-gallon water heater. One unit was just updated. Utilities: Tenants pay gas and electric, Owner pays trash, water, sewer, lawn care, snow removal, and common area electricity. Additional Amenities: Off-street parking behind the building, Lockable basement storage units for each tenant, Coin-operated washer and dryer in the basement for added income. Close to shopping, bike trails, and public transit. This property offers low-maintenance ownership with separate mechanicals for each unit, making it ideal for both seasoned investors and those new to multifamily real estate. Fully rented and ready to produce income from day one. Schedule your showing today!

18. 2025-11-03
    listed $399,000 Active 1074-char remark

    Show marketing remark (1074 chars)

    Turnkey Investment Opportunity – Fully Rented 4-Unit in St. Paul. Don’t miss this excellent income-producing property in the heart of St. Paul! This well-maintained fourplex features four 1-bedroom / 1-bathroom units, all currently rented and generating steady cash flow. Each unit includes private forced air heating system with individual thermostat, Dedicated 50 Amp electrical panel, Individual 40-gallon water heater. One unit was just updated. Utilities: Tenants pay gas and electric, Owner pays trash, water, sewer, lawn care, snow removal, and common area electricity. Additional Amenities: Off-street parking behind the building, Lockable basement storage units for each tenant, Coin-operated washer and dryer in the basement for added income. Close to shopping, bike trails, and public transit. This property offers low-maintenance ownership with separate mechanicals for each unit, making it ideal for both seasoned investors and those new to multifamily real estate. Fully rented and ready to produce income from day one. Schedule your showing today!

19. 2025-09-14
    historical
20. 2025-08-06
    price $384,900
21. 2025-06-26
    listed $399,900 Active
22. 2025-06-18
    historical
23. 2021-11-08
    soldstatus $310,000
24. 2021-09-28
    soldstatus $310,000 Sold
25. 2021-08-20
    historical Contingent - Inspection
26. 2021-08-12
    listed $299,900 Active
27. 2021-07-28
    historical $299,900
28. 2016-04-18
    soldstatus $185,000
29. 2016-04-01
    soldstatus $185,000 Sold
30. 2016-03-29
    status Pending
31. 2016-02-03
    historical Contingent - Inspection
32. 2016-01-29
    listed $169,900 Active
33. 2013-05-02
    historical
34. 2013-01-07
    listed $134,900
35. 2012-12-31
    historical
36. 2012-06-27
    listed $138,000
37. 2009-11-03
    soldstatus $76,000
38. 2009-09-28
    soldstatus $60,556
39. 2002-12-20
    soldstatus $215,000
40. 2002-03-31
    soldstatus $175,000
41. 2001-11-26
    soldstatus $175,000
42. 2001-11-01
    historical
43. 2001-09-28
    listed $174,900

ⓘ 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: $7,612 · $634/mo
• Projected year-2 tax: $7,612 · $634/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: $63,096
• − Mortgage interest: −$20,950
• − Property taxes: −$7,612
• − Insurance: −$1,870
• − Repairs & maintenance: −$5,048
• − Management: −$5,048
• − Depreciation: −$10,880
• Taxable income: $11,689
• Est. tax owed @ 24.0%: −$2,805
• After-tax cash flow: $14,023/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

+113.8% since first listed

30 events — show timeline

• 2026-04-29 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-19 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-21 Price Changed $374,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-31 Price Changed $389,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-03 Listed $399,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-06 Price Changed $384,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-26 Listed $399,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-18 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2021-11-08 Sold (Public Records) $310,000 Public Records
• 2021-09-28 Sold (MLS) $310,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-20 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-12 Listed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-28 Coming Soon $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-04-18 Sold (Public Records) $185,000 Public Records
• 2016-04-01 Sold (MLS) $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-02-03 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2016-01-29 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-05-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-01-07 Listed $134,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-12-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-06-27 Listed $138,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-11-03 Sold (Public Records) $76,000 Public Records
• 2009-09-28 Sold (Public Records) $60,556 Public Records
• 2002-12-20 Sold (Public Records) $215,000 Public Records
• 2002-03-31 Sold (Public Records) $175,000 Public Records
• 2001-11-26 Sold (MLS) $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2001-11-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-09-28 Listed $174,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.0%/yr

Latest (2025): $7,612 · +9.8% YoY. Source: county tax records.