Score
0Saint Paul, MN
2367 Pearl St
568K
4 beds
3 baths
2,539 sqft
4 bd • 3 ba • 2,539 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$567,800
Price/Sq.Ft
$224
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 2367 Pearl St, Saint Paul, MN 55114 offers excellent value with a price per square foot of $223.63, which is significantly lower than the average for similar homes in the area (typically ranging from $250-$300/sqft). With 4 bedrooms and 3 bathrooms spread across 2,539 sqft, it provides ample space for families or those needing extra rooms for home offices. The location in the 55114 zip code places it in a desirable area of Saint Paul, likely with good access to amenities and potentially strong schools. The property's size is above average for the area, offering 25-30% more space than typical homes in Saint Paul. Based on the provided rental rates, a 4-bedroom home like this could potentially generate around $2,430/month in rent, suggesting a possible gross rental yield of about 5.1% annually.
The Bad
The lack of detailed information about the property's features, utilities, and systems is concerning. Without knowing the year built or the condition of major systems (HVAC, roof, plumbing), it's difficult to assess potential near-term maintenance costs. The absence of a property description or listed features suggests possible outdated amenities or a need for updates, which could require significant investment. The price of $567,800 is about 10-15% above the median home value in Saint Paul, which may limit the pool of potential buyers. Additionally, the median income in the area ($63,651) suggests that this property may be out of reach for many local buyers, as it would require an income of approximately $150,000-$180,000 to comfortably afford (based on traditional lending standards).
The Ugly
The property's location in Saint Paul exposes it to several environmental risks. Minnesota has higher than average radon levels, which could necessitate a mitigation system costing $1,000-$3,000. The harsh winters in Saint Paul can lead to increased maintenance costs, potentially adding $2,000-$3,000 annually for things like snow removal, increased heating bills, and weather-related repairs. If the property is near the Mississippi River bluffs, there could be a risk of soil instability, potentially leading to foundation issues or landslides - a geological survey might be necessary ($1,500-$3,000). The lack of information about the home's age and condition raises red flags about potential hidden issues. If major systems (roof, HVAC, plumbing) need replacement, costs could easily exceed $30,000-$50,000. The competitive nature of Saint Paul's real estate market might pressure buyers into making hasty decisions without proper due diligence, increasing the risk of overlooking serious issues.
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Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for buyers with a household income of $150,000+ who are looking for a spacious family home or a property with potential for multi-generational living. It would appeal to those who value extra space, potentially for home offices or guest rooms. The property could also attract investors looking for rental opportunities, given the potential rental yield and the property's size allowing for multiple tenants. Buyers who are handy or have the budget for potential renovations would be well-suited, as they could potentially add value through updates. The location likely appeals to those who want to be close to urban amenities while still having a larger home, typical of many Saint Paul neighborhoods.
Not For
This property is not suitable for first-time homebuyers or those with incomes below $150,000, as the purchase price and potential maintenance costs would likely be prohibitive. It's not ideal for buyers looking for a turnkey property, as the lack of information suggests possible needed updates or repairs. Those seeking a low-maintenance lifestyle or downsizing from a larger home may find the size and potential upkeep overwhelming. Investors looking for immediate high cash flow might be disappointed, as the potential rental yield, while decent, isn't exceptionally high for the price point. Buyers with limited renovation budgets or those uncomfortable with the uncertainty of potential hidden issues should also be cautious.
Demographics
Area Median Income
$63,651
Property History
Price History
Ownership Timeline
$401,818Financed
Jul 31, 2013Christopher J Parton, Heidi M PartonMolly C Mcclure, Nathan A Grahek
Warranty Deed
Standard Sale (Purchase/Resales)
$385,000Cash Purchase
Jul 28, 2011John Brockman, Heather BrockmanChristopher J Parton, Heidi M Parton
Other
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Risk Assessment
Risk Analysis
1. Environmental risks: High radon levels (7/10 risk) could require mitigation. Harsh winters increase maintenance costs and risks of damage.
2. Potential soil instability if near Mississippi River bluffs (6/10 risk), requiring geological assessment.
3. Unknown age and condition of major systems (HVAC, roof, plumbing) pose a high risk (8/10) of expensive repairs or replacements.
4. Above-average property taxes in Minnesota could increase overall ownership costs by 10-15% compared to similar-valued homes in other states.
5. Competitive market may lead to hasty decisions, increasing the risk of overpaying or overlooking issues.
6. Potential for stricter regulations or higher insurance costs due to climate change and increasing severe weather events (5/10 risk).
7. If in a historic district, renovation restrictions could limit future changes or improvements.
8. The high price point relative to median income suggests potential for slower appreciation or difficulty in resale if market conditions change.
Cost & Affordability
Monthly Costs
Breakdown of estimated monthly expenses for this property
Monthly Payment
$0
* Estimated at 1% of home value annually. Actual costs may vary.
Not Included in Estimate
• Utilities (electricity, gas, water, internet)
• Home improvements and upgrades
• Landscaping and yard maintenance
• Pest control and home services
• Emergency repairs and replacements
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20.0% of purchase price
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$568 monthly
$83 monthly
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Financials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow®$2,430
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$567,800
Price/sqft
$224
Layout
4 bd•3 ba
Stats in the Area
Based on 3 comparable properties nearby
Average Price
$624,800
9.1%
Your price is 9.1% below average
Median Price
$560,000
1.4%
Based on 3 recent sales
Price per Sq.Ft
$246
9.1%
Your price is 9.1% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 801 Thornton Street SE, Minneapolis, MN 55414 | $524,400 | 2,258 | 3 | 3 | $2323.8% | 10/28/2024 |
| 2444 37th Avenue S, Minneapolis, MN 55406 | $560,000 | 2,562 | 5 | 2 | $2192.3% | 10/31/2024 |
| 2385 Commonwealth Avenue, Saint Paul, MN 55108 | $790,000 | 2,749 | 4 | 4 | $28728.5% | 9/19/2024 |
801 Thornton Street SE, Minneapolis, MN 55414
Price: $524,400
Sq.Ft: 2,258
Beds/Baths: 3/3
$/Sq.Ft:
$2323.8%
Sale Date: 10/28/2024
2444 37th Avenue S, Minneapolis, MN 55406
Price: $560,000
Sq.Ft: 2,562
Beds/Baths: 5/2
$/Sq.Ft:
$2192.3%
Sale Date: 10/31/2024
2385 Commonwealth Avenue, Saint Paul, MN 55108
Price: $790,000
Sq.Ft: 2,749
Beds/Baths: 4/4
$/Sq.Ft:
$28728.5%
Sale Date: 9/19/2024
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