986 Galtier St · St. Paul, MN 55117

$280,000

2 bd · 2.0 ba · 2,646 sqft · MultiFamily public records · 9 Days on market

Built 1907 5,532 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Rent growth +3.4/5.0
• 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

Excellent investment opportunity or owner-occupant duplex! Each unit features 2 bedrooms, offering comfortable living spaces with great rental potential. Property includes garage units for added convenience and storage, along with a spacious fenced-in backyard perfect for outdoor enjoyment, pets, or entertaining. Whether you are looking to expand your investment portfolio or house hack by living in one unit while renting out the other, this property offers flexibility and income-producing potential. This duplex features split utilities, great for management. Don’t miss this opportunity to own a well-rounded duplex with strong rental appeal and homestead possibilities!

Key facts

• Rental potential
• Outdoor enjoyment
• Garage units

Tags

• FENCED-IN BACKYARD
• GARAGE UNITS
• RENTAL POTENTIAL
• OUTDOOR ENJOYMENT

Property features AI

Finance

• Other: Lot dimensions approximately 100 x 159 on a 0.127-acre lot; Living area reported as 2,646 total square feet
• Financial info: Two units total; Gross rental income reported: $36,000; Trash expense reported: $480; Other expense reported: $1,500

Exterior

• Parking: Detached 2-car garage (22x20)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential income property; Duplex (up and down); Two-story; Above-grade finished area reported for the building
• Construction: Shallow block foundation area (1,458 reported for foundation area); Above ground main level area reported
• Exterior features: Stone exterior

Interior

• Kitchen: Each unit includes a kitchen (specific appliances not provided)
• Bedrooms: Four total bedrooms (duplex contains two 2-bedroom units)
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Forced air heating; Central cooling for each unit
• Interior features: Unfinished basement; Block foundation; Two levels; Owner occupied (as reported)
• Laundry & utility: Natural gas fuel

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive. Per door: $321/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).

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 (+3.6%/yr); 170 active listings in the ZIP; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• At $3,217/mo this rent would consume 55% of the median local household income ($71k/yr) (locally 1588% 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 $2k of loan paydown is wiped out by about $8k 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 + 3.6% rent growth), your $78k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $68k; list at $280k implies a 312% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $280,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.15% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.84%
• DSCR: 1.44
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.6% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-2,445
• Equity at exit: $41,749

10-year hold

• IRR: 9.5%
• Equity multiple: 1.75×
• Total profit: $58,819
• Equity at exit: $24,209

Cash invested: $78,400 (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 55117

• Rents YoY: 3.6%
• Active inventory: 170
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $3,217 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$314 /mo · $3,762/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $643

Break-even live

Break-even rent $2,403

Max offer price $280,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,216
Total (2 units)			$3,217

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-20
   listed $280,000 Active
2. 1997-05-21
   soldstatus $68,000
3. 1997-01-31
   soldstatus $68,000
4. 1997-01-13
   historical
5. 1996-08-18
   listed $64,900
6. 1991-05-28
   soldstatus $63,500

ⓘ 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: $3,762 · $314/mo
• Projected year-2 tax: $3,762 · $314/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: $38,604
• − Mortgage interest: −$15,684
• − Property taxes: −$3,762
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,088
• − Management: −$3,088
• − Depreciation: −$8,145
• Taxable income: $3,436
• Est. tax owed @ 24.0%: −$825
• After-tax cash flow: $6,890/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): 44,697
• Household income: $70,771
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1588.0

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 0.72)
• Race & ethnicity: White 44% Asian 24% Black 15% Hispanic / Latino 10% Two or more races 10%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 6% Romanian 3% Lithuanian 2%
• Foreign-born: 21% · Canada, Philippines, India
• Languages at home: 68% English-only · Other Asian/Pacific 15% Spanish 8% Other Indo-European 2%

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: ▼ -308.56%
• Current HPI: 267.4216
• Rent YoY: ▲ 3.60%
• 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

+340.9% since first listed

6 events — show timeline

• 2026-05-20 Listed $280,000 NORTHSTARMLS as Distributed by MLS Grid
• 1997-05-21 Sold (Public Records) $68,000 Public Records
• 1997-01-31 Sold (MLS) $68,000 NORTHSTARMLS as Distributed by MLS Grid
• 1997-01-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-08-18 Listed $64,900 NORTHSTARMLS as Distributed by MLS Grid
• 1991-05-28 Sold (Public Records) $63,500 Public Records

Property tax history

+10.2%/yr

Latest (2025): $3,762 · +16.5% YoY. Source: county tax records.