105 Milton St S · St. Paul, MN 55105

$499,900

5 bd · 2.0 ba · 2,172 sqft · MultiFamily public records · 41 Days on market

Built 1905 3,005 sqft lot

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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 +27.7/30.0
• DSCR +9.7/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Rent growth +3.3/5.0
• 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

2 bedroom unit main floor, 3 bedrooms upper two levels, possible 4th bedroom in upper unit. Home features porch, hardwood flooring, natural woodwork, large windows, large unfinished basement, and a great central location.

Key facts

• 3,005 sq ft lot
• Built 1905
• Listed 41 days

Property features AI

Finance

• Other: Rental license: Standard
• Financial info: Two-unit building; Gross income reported; Net operating income reported; Owner pays exterior maintenance, grounds care, insurance, repairs, management, sewer, snow removal, taxes, trash collection and water; Tenants pay electricity, gas, heat and hot water; Property has a standard rental license
• HOA & community: Porch listed as an association amenity

Exterior

• Parking: On-street parking only
• Utilities: City water (in street); City sewer (in street); Natural gas; Electric with circuit breakers
• Home design: Residential income property; Duplex (up and down); More than 2 stories; Entry faces front (covered front porch)
• Construction: Frame construction; Asphalt roof (older than 8 years); Stone foundation; Built with above-grade finished area totaling 2,644 sq ft
• Exterior features: Covered front porch; Wood exterior; Street lights and sidewalks nearby; Public transit within six blocks; Medium tree coverage

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Microwave; Exhaust fan/hood; Stainless steel appliances (in one unit)
• Bedrooms: Two-bedroom unit (one unit); Three-bedroom unit (one unit); Total 5 bedrooms
• Flooring: Hardwood floors; Tile floors
• Bathrooms: One full bathroom in each unit
• Heating & cooling: Boiler heating; Window air conditioning units
• Interior features: Hardwood floors; Tile floors; Natural woodwork; Paneled doors; Granite countertops; Kitchen window; Main floor primary bedroom; Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $752/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $500k).
• Recommended offer: $485k (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.
• Zoned schools: Randolph Heights Elementary (math 62% / reading 62%, grade B, #180 of 857 statewide, top 23%, 437 students, 31% 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 average 47% FRL vs 64% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 50% at this address vs 27% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the St. Paul Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.1%/yr); 128 active listings in the ZIP; solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $6,330/mo this rent would consume 71% of the median local household income ($107k/yr) (locally 909% 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 $15k 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 + 3.1% rent growth), your $140k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($485k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 30y 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.
• Current owner paid $176k; list at $500k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $484,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.27% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.89%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.15% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.11×
• Total profit: $15,856
• Equity at exit: $74,537

10-year hold

• IRR: 12.7%
• Equity multiple: 2.01×
• Total profit: $141,574
• Equity at exit: $43,222

Cash invested: $139,972 (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 55105

• Rents YoY: 3.1%
• Active inventory: 128
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $6,330 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$667 /mo · $8,004/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,329
• Net cashflow: $1,504

Break-even live

Break-even rent $4,426

Max offer price $499,900

Occupancy floor 71%

Sensitivity live

Price	-10% $1,787	-5% $1,645	+0% $1,504	+5% $1,362	+10% $1,221
Rent	-10% $1,004	-5% $1,254	+0% $1,504	+5% $1,754	+10% $2,004
Rate	-1.0pp $1,756	-0.5pp $1,631	base $1,504	+0.5pp $1,374	+1.0pp $1,243

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1	$6,330
Total (2 units)			$6,330

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-13
   statusdays on market $499,900 Pending 41 DOM
2. 2026-06-09
   days on market $499,900 Contingent - Inspection 40 DOM
3. 2026-06-08
   days on market $499,900 Contingent - Inspection 39 DOM
4. 2026-06-07
   days on market $499,900 Contingent - Inspection 38 DOM
5. 2026-06-04
   days on market $499,900 Contingent - Inspection 35 DOM
6. 2026-06-03
   days on market $499,900 Contingent - Inspection 34 DOM
7. 2026-06-02
   statusdays on market $499,900 Contingent - Inspection 33 DOM
8. 2026-06-01
   days on market $499,900 Active 32 DOM
9. 2026-05-31
   days on market $499,900 Active 31 DOM
10. 2026-05-01
    listed $519,900 Active 762-char remark
11. 2026-04-29
    historical $519,900 762-char remark
12. 2010-10-05
    soldstatus $175,500 221-char remark

    Show marketing remark (221 chars)

    2 bedroom unit main floor, 3 bedrooms upper two levels, possible 4th bedroom in upper unit. Home features porch, hardwood flooring, natural woodwork, large windows, large unfinished basement, and a great central location.

13. 2010-09-10
    historical 221-char remark

    Show marketing remark (221 chars)

    2 bedroom unit main floor, 3 bedrooms upper two levels, possible 4th bedroom in upper unit. Home features porch, hardwood flooring, natural woodwork, large windows, large unfinished basement, and a great central location.

14. 2010-09-01
    listed $175,000 221-char remark

    Show marketing remark (221 chars)

    2 bedroom unit main floor, 3 bedrooms upper two levels, possible 4th bedroom in upper unit. Home features porch, hardwood flooring, natural woodwork, large windows, large unfinished basement, and a great central location.

15. 2010-06-29
    historical
16. 2009-12-29
    listed $230,000
17. 1996-08-27
    soldstatus $171,500
18. 1996-06-27
    soldstatus $171,100
19. 1996-05-21
    historical
20. 1996-05-12
    listed $169,000

ⓘ 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: $8,004 · $667/mo
• Projected year-2 tax: $8,004 · $667/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 ≥100°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: $75,960
• − Mortgage interest: −$28,002
• − Property taxes: −$8,004
• − Insurance: −$2,500
• − Repairs & maintenance: −$6,077
• − Management: −$6,077
• − Depreciation: −$14,543
• Taxable income: $10,758
• Est. tax owed @ 24.0%: −$2,582
• After-tax cash flow: $15,465/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): 28,617
• Household income: $107,248
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 909.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 5% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 11% Romanian 4% Lithuanian 4%
• Foreign-born: 4% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 4% German/W. Germanic 1% Other Asian/Pacific 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: ▼ -562.23%
• Current HPI: 223.6008
• Rent YoY: ▲ 3.15%
• 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

+195.8% since first listed

14 events — show timeline

• 2026-06-10 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-21 Price Changed $499,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $519,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Coming Soon $519,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-10-05 Sold (MLS) $175,500 NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-01 Listed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-12-29 Listed $230,000 NORTHSTARMLS as Distributed by MLS Grid
• 1996-08-27 Sold (Public Records) $171,500 Public Records
• 1996-06-27 Sold (MLS) $171,100 NORTHSTARMLS as Distributed by MLS Grid
• 1996-05-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-05-12 Listed $169,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2025): $8,004 · +15.4% YoY. Source: county tax records.