690 Watson Ave · St. Paul, MN 55102

$210,000

3 bd · 1.5 ba · 1,398 sqft · SingleFamily public records · 1 Days on market

Built 1902 4,748 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

BANK-OWNED FORECLOSURE. PROPERTY SOLD 'AS IS' WITHOUT REPAIR, WARRANTY OR SELLER DISCLOSURE. Easy to show and quick to close. Buyers are encouraged to verify all dimensions, have agent representation, and arrange for professional inspections.

Key facts

• 4,748 sq ft lot
• Garage
• Built 1902

Property features AI

Exterior

• Parking: Detached or attached garage with space for 1 car
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; Two levels; Entry facing direction not provided
• Construction: Brick/mortar foundation (foundation area 504); Built with metal and vinyl siding
• Exterior features: Metal and vinyl exterior

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bath, 1 half bath, 1 quarter bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Partial unfinished basement; Brick/mortar foundation

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).

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 (+1.6%/yr); 145 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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).
• At $3,233/mo this rent would consume 51% of the median local household income ($76k/yr) (locally 1116% 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 $1k of loan paydown is wiped out by about $6k 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 + 1.6% rent growth), your $59k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 34y 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 $76k; list at $210k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $210,000

Questions for the listing agent

1. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.54% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.03%
• DSCR: 1.94
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.46×
• Total profit: $27,190
• Equity at exit: $31,312

10-year hold

• IRR: 19.7%
• Equity multiple: 2.54×
• Total profit: $90,630
• Equity at exit: $18,157

Cash invested: $58,800 (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 55102

• Rents YoY: 1.6%
• Active inventory: 145
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,233 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$335 /mo · $4,018/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $1,030

Break-even live

Break-even rent $1,929

Max offer price $210,000

Occupancy floor 63%

Sensitivity live

Price	-10% $1,149	-5% $1,090	+0% $1,030	+5% $971	+10% $911
Rent	-10% $775	-5% $903	+0% $1,030	+5% $1,158	+10% $1,286
Rate	-1.0pp $1,136	-0.5pp $1,084	base $1,030	+0.5pp $976	+1.0pp $920

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
740 Victoria St S Saint Paul, MN	3.0	1.0–2.0	1076	$3,558	$3.31	0d	38	0.46mi
380 Randolph Ave Saint Paul, MN	2.0	1.0–2.0	753	$2,946	$3.91	0d	18	0.65mi
470 Lexington Pkwy S Saint Paul, MN	2.0	1.0–2.0	1175	$3,500	$2.98	2d	19	0.87mi
871 Sibley Memorial Hwy Saint Paul, MN	1.0–3.0	1.0–2.0	1207	$5,930	$4.91	0d	9	1.24mi
400 Spring St Saint Paul, MN	1.0–2.0	1.0–2.0	1205	$3,275	$2.72	0d	32	1.46mi

Listing history 2 events

1. 2026-06-02
   remarks 18-char remark
2. 2026-06-02
   listed $210,000 Pending 1 DOM

ⓘ 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: $4,018 · $335/mo
• Projected year-2 tax: $4,018 · $335/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: $38,793
• − Mortgage interest: −$11,763
• − Property taxes: −$4,018
• − Insurance: −$1,050
• − Repairs & maintenance: −$3,103
• − Management: −$3,103
• − Depreciation: −$6,109
• Taxable income: $9,645
• Est. tax owed @ 24.0%: −$2,315
• After-tax cash flow: $10,048/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): 19,630
• Household income: $76,406
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1116.0

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 (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Lithuanian 5% Romanian 3%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 4% Other Indo-European 1% German/W. Germanic 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: ▼ -217.83%
• Current HPI: 241.7112
• Rent YoY: ▲ 1.60%
• 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

+320.8% since first listed

8 events — show timeline

• 2026-06-02 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-02 Listed $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-01-18 Sold (MLS) $76,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-12-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-12-18 Listed $76,000 NORTHSTARMLS as Distributed by MLS Grid
• 1992-12-29 Sold (Public Records) $43,818 Public Records
• 1992-10-09 Sold (MLS) $47,500 NORTHSTARMLS as Distributed by MLS Grid
• 1992-08-10 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2025): $4,018 · +17.4% YoY. Source: county tax records.