932 Main St · St. Paul Park, MN 55071

$224,900

3 bd · 2.5 ba · 1,524 sqft · Townhouse public records · 66 Days on market

Built 2004 2,178 sqft lot $148/sqft · 36% below area Est $357k · 37% under $270/mo HOA · 10% of rent

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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 +19.1/30.0
• ARV discount +15.0/15.0
• 1% rule +6.5/10.0
• DSCR +6.0/10.0
• Schools +5.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained home featuring 3 bedrooms on one level, including a spacious primary suite with private bath. Convenient upper-level laundry located near bedrooms. Bright and inviting living room with large windows offering abundant natural light. Kitchen includes a center island and stainless steel appliances. Enjoy added privacy with a no-through-traffic road to the garage and a heavily wooded lot across the street providing scenic views and some privacy.

Key facts

• Upper-level laundry
• Private bath
• Heavily wooded lot

Tags

• PRIVATE BATH
• UPPER-LEVEL LAUNDRY
• CENTER ISLAND
• STAINLESS STEEL APPLIANCES
• NO-THROUGH-TRAFFIC ROAD
• HEAVILY WOODED LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $211k (6.0% 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.
• South Washington County School District (suburban): math 52% / reading 61% proficiency, ranked #40 of 301 in MN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 21 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,405 units permitted in Washington County in 2024 (121 in 5+ unit buildings).

Forward outlook

• 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.
• Washington County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; list at $225k implies a 188% gain — meaningful room to come down on a strong offer.

Recommended offer $211,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 7.2

CMA / ARV

• ARV (median comp): $356,686
• List price: $224,900
• Delta: -36.95%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-21,034
• Equity at exit: $33,533

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $2,062
• Equity at exit: $19,445

Cash invested: $62,972 (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 55071

• Home prices YoY: -22.7%
• Active inventory: 21
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,588 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$262 /mo · $3,146/yr
• Insurance: −$94
• HOA: −$270
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $239

Break-even live

Break-even rent $2,285

Max offer price $224,900

Occupancy floor 86%

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1236 1st St Saint Paul Park, MN	4.0	2.0	1895	$2,595	$1.37	43d	1	0.37mi
1241 Mullan Ct Saint Paul Park, MN	3.0	3.0	1864	$2,700	$1.45	16d	1	0.39mi
6432 Genevieve Trl Cottage Grove, MN	3.0	3.0	1966	$2,900	$1.48	43d	1	1.25mi
630 7th Ave Newport, MN	3.0	1.0	1100	$1,700	$1.55	24d	1	1.43mi

HOA detail

• Monthly dues: $270 · $3,240/yr

Listing history 25 events

1. 2026-06-16
   status $224,900 Pending 66 DOM
2. 2026-06-15
   days on market $224,900 Contingent - Inspection 66 DOM
3. 2026-06-13
   days on market $224,900 Contingent - Inspection 64 DOM
4. 2026-06-13
   days on market $224,900 Contingent - Inspection 63 DOM
5. 2026-06-09
   days on market $224,900 Contingent - Inspection 60 DOM
6. 2026-06-08
   days on market $224,900 Contingent - Inspection 59 DOM
7. 2026-06-07
   days on market $224,900 Contingent - Inspection 58 DOM
8. 2026-06-04
   days on market $224,900 Contingent - Inspection 55 DOM
9. 2026-06-03
   days on market $224,900 Contingent - Inspection 54 DOM
10. 2026-06-02
    statusdays on market $224,900 Contingent - Inspection 53 DOM
11. 2026-06-01
    days on market $224,900 Active 52 DOM
12. 2026-05-31
    days on market $224,900 Active 51 DOM
13. 2026-05-11
    price $244,900 461-char remark

    Show marketing remark (461 chars)

    Well-maintained home featuring 3 bedrooms on one level, including a spacious primary suite with private bath. Convenient upper-level laundry located near bedrooms. Bright and inviting living room with large windows offering abundant natural light. Kitchen includes a center island and stainless steel appliances. Enjoy added privacy with a no-through-traffic road to the garage and a heavily wooded lot across the street providing scenic views and some privacy.

14. 2026-04-29
    price $249,900 461-char remark

    Show marketing remark (461 chars)

    Well-maintained home featuring 3 bedrooms on one level, including a spacious primary suite with private bath. Convenient upper-level laundry located near bedrooms. Bright and inviting living room with large windows offering abundant natural light. Kitchen includes a center island and stainless steel appliances. Enjoy added privacy with a no-through-traffic road to the garage and a heavily wooded lot across the street providing scenic views and some privacy.

15. 2026-04-10
    listed $265,000 Active 461-char remark

    Show marketing remark (461 chars)

    Well-maintained home featuring 3 bedrooms on one level, including a spacious primary suite with private bath. Convenient upper-level laundry located near bedrooms. Bright and inviting living room with large windows offering abundant natural light. Kitchen includes a center island and stainless steel appliances. Enjoy added privacy with a no-through-traffic road to the garage and a heavily wooded lot across the street providing scenic views and some privacy.

16. 2013-05-17
    soldstatus $78,225 233-char remark

    Show marketing remark (233 chars)

    SUPER BUY! 2004 BUILT TOWNHOME!! MINT CONDITION 3 bed, 3 bath, fireplace in the living room, 2 car. gar. Kit w/breakfast bar. Upstairs laundry rm. Hardwood flrs. End unit, close to Willies Hidden Harbor Marine & MISSISSIPPI RIVER

17. 2013-05-13
    listed $110,000 233-char remark

    Show marketing remark (233 chars)

    SUPER BUY! 2004 BUILT TOWNHOME!! MINT CONDITION 3 bed, 3 bath, fireplace in the living room, 2 car. gar. Kit w/breakfast bar. Upstairs laundry rm. Hardwood flrs. End unit, close to Willies Hidden Harbor Marine & MISSISSIPPI RIVER

18. 2013-05-13
    historical 233-char remark

    Show marketing remark (233 chars)

    SUPER BUY! 2004 BUILT TOWNHOME!! MINT CONDITION 3 bed, 3 bath, fireplace in the living room, 2 car. gar. Kit w/breakfast bar. Upstairs laundry rm. Hardwood flrs. End unit, close to Willies Hidden Harbor Marine & MISSISSIPPI RIVER

19. 2006-08-24
    historical
20. 2006-06-22
    listed $179,900
21. 2006-06-21
    historical
22. 2006-04-28
    listed $184,899
23. 2006-04-27
    historical
24. 2006-02-06
    listed $194,900
25. 2004-08-23
    soldstatus $168,750

ⓘ 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: $3,146 · $262/mo
• Projected year-2 tax: $3,146 · $262/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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,051
• − Mortgage interest: −$12,598
• − Property taxes: −$3,146
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,484
• − Management: −$2,484
• − HOA: −$3,240
• − Depreciation: −$6,543
• Taxable loss: −$568
• Est. tax savings @ 24.0%: +$136
• After-tax cash flow: $3,003/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: South Washington County School District
• NCES district ID: 2733810
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $88,285
• Composite: 51.8/100
• National rank: #1670
• State rank: #40 of 301 in MN

Livability — St. Paul Park

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Paul Park, MN
• Population (ZIP): 5,807

Population outlook (Washington County) Hauer SSP2

• Today (2025): 278,554 people
• By 2030: 290,465 · +4.3%
• By 2040: 310,014 · +11.3%
• By 2050: 324,118 · +16.4%
• By 2075: 362,697 · +30.2%
• By 2100: 381,491 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 9% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 13% Romanian 7% Lithuanian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 2% French/Haitian/Cajun 1%

Political lean MEDSL · Washington

• 2024 margin: Lean D (+8.9) · D 53.5% · R 44.6% · Other 1.9%
• 2008→2024 swing: +4.6pp toward D · 2008: 4.3pp · 2024: 8.9pp
• All cycles: 2024: D+8.9 2020: D+9.2 2016: D+1.9 2012: D+0.8 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.53%
• Current HPI: 243.5518
• Rent YoY: —
• Metro: —
• 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

+45.1% since first listed

13 events — show timeline

• 2026-05-11 Price Changed $244,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Listed $265,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-05-17 Sold (MLS) $78,225 NORTHSTARMLS as Distributed by MLS Grid
• 2013-05-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-05-13 Listed $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-08-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-06-22 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-06-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-04-28 Listed $184,899 NORTHSTARMLS as Distributed by MLS Grid
• 2006-04-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-02-06 Listed $194,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-08-23 Sold (Public Records) $168,750 Public Records

Property tax history

+6.6%/yr

Latest (2025): $3,146 · +9.2% YoY. Source: county tax records.