5850 177th Street West · Lakeville, MN 55024

$69,900

3 bd · 2.0 ba · 1,400 sqft · SingleFamily · 101 Days on market

Built 2010 Fair condition 1,344 sqft lot $50/sqft · 82% below area ↓ 7% since listing

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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
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

$790.00 monthly lot rent. With a unique bump out front window and tall cathedral ceilings, this home is the largest single wide made! The kitchen has a stainless steel stove, refrigerator, dishwasher, loads of cabinets, a separate buffet area, and a window over the sink. The living room is large and has a stone look accent wall. The main bedroom is spacious, has a double door closet, and an attached bathroom with a skylight, standing shower and a corner soaker bathtub! The laundry / mud room is separate, has overhead cabinets and the washer and dryer are included also! There's central air, a linen cabinet in the guest bathroom, wood laminate flooring, and the table, couch, and beds can stay as a housewarming gift if you would like them! Outside has a 2 car driveway, deck, shed and landscaping! Pets are welcome also!

Key facts

• 1,344 sq ft lot
• Built 2010
• Listed 101 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 32.2% vs local median 3.2% in Lakeville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#25 in MN, #711 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities D+, commute F, cost of living F.
• Farmington Public School District (suburban): math 43% / reading 52% proficiency, ranked #104 of 301 in MN (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 325 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 2,134 units permitted in Dakota County in 2024 (898 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Dakota County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $63,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 3.61% ✓
• Cap rate: 32.21%
• Cash-on-cash: 92.57%
• DSCR: 5.12
• GRM: 2.3

CMA / ARV

• ARV (median comp): $382,202
• List price: $69,900
• Delta: -81.71%
• 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: 93.4%
• Equity multiple: 5.34×
• Total profit: $84,874
• Equity at exit: $10,422

10-year hold

• IRR: 96.2%
• Equity multiple: 11.11×
• Total profit: $197,886
• Equity at exit: $6,044

Cash invested: $19,572 (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 55024

• Home prices YoY: -31.2%
• Active inventory: 325
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,523 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $1,510

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 35%

Sensitivity live

Price	-10% $1,558	-5% $1,534	+0% $1,510	+5% $1,486	+10% $1,462
Rent	-10% $1,311	-5% $1,410	+0% $1,510	+5% $1,609	+10% $1,709
Rate	-1.0pp $1,545	-0.5pp $1,528	base $1,510	+0.5pp $1,492	+1.0pp $1,473

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18388 English Ave Farmington, MN	2.0	2.0	1544	$1,999	$1.29	44d	1	0.83mi
17074 Dysart Pl Unit 17074 Lakeville, MN	3.0	2.5	1750	$2,800	$1.60	10d	1	1.08mi
17040 Dysart Pl Unit 17040 Lakeville, MN	3.0	2.5	1700	$2,700	$1.59	0d	1	1.11mi
17343 Gettysburg Way Unit 1 Lakeville, MN	3.0	3.0	1401	$2,400	$1.71	44d	1	1.28mi

Listing history 6 events

1. 2026-04-30
   price $69,900 827-char remark

   Show marketing remark (827 chars)

   $790.00 monthly lot rent. With a unique bump out front window and tall cathedral ceilings, this home is the largest single wide made! The kitchen has a stainless steel stove, refrigerator, dishwasher, loads of cabinets, a separate buffet area, and a window over the sink. The living room is large and has a stone look accent wall. The main bedroom is spacious, has a double door closet, and an attached bathroom with a skylight, standing shower and a corner soaker bathtub! The laundry / mud room is separate, has overhead cabinets and the washer and dryer are included also! There's central air, a linen cabinet in the guest bathroom, wood laminate flooring, and the table, couch, and beds can stay as a housewarming gift if you would like them! Outside has a 2 car driveway, deck, shed and landscaping! Pets are welcome also!

2. 2026-03-28
   price $71,900 827-char remark

   Show marketing remark (827 chars)

   $790.00 monthly lot rent. With a unique bump out front window and tall cathedral ceilings, this home is the largest single wide made! The kitchen has a stainless steel stove, refrigerator, dishwasher, loads of cabinets, a separate buffet area, and a window over the sink. The living room is large and has a stone look accent wall. The main bedroom is spacious, has a double door closet, and an attached bathroom with a skylight, standing shower and a corner soaker bathtub! The laundry / mud room is separate, has overhead cabinets and the washer and dryer are included also! There's central air, a linen cabinet in the guest bathroom, wood laminate flooring, and the table, couch, and beds can stay as a housewarming gift if you would like them! Outside has a 2 car driveway, deck, shed and landscaping! Pets are welcome also!

3. 2026-02-15
   listed $74,900 Active 827-char remark

   Show marketing remark (827 chars)

   $790.00 monthly lot rent. With a unique bump out front window and tall cathedral ceilings, this home is the largest single wide made! The kitchen has a stainless steel stove, refrigerator, dishwasher, loads of cabinets, a separate buffet area, and a window over the sink. The living room is large and has a stone look accent wall. The main bedroom is spacious, has a double door closet, and an attached bathroom with a skylight, standing shower and a corner soaker bathtub! The laundry / mud room is separate, has overhead cabinets and the washer and dryer are included also! There's central air, a linen cabinet in the guest bathroom, wood laminate flooring, and the table, couch, and beds can stay as a housewarming gift if you would like them! Outside has a 2 car driveway, deck, shed and landscaping! Pets are welcome also!

4. 2026-02-09
   historical $74,900 827-char remark

   Show marketing remark (827 chars)

   $790.00 monthly lot rent. With a unique bump out front window and tall cathedral ceilings, this home is the largest single wide made! The kitchen has a stainless steel stove, refrigerator, dishwasher, loads of cabinets, a separate buffet area, and a window over the sink. The living room is large and has a stone look accent wall. The main bedroom is spacious, has a double door closet, and an attached bathroom with a skylight, standing shower and a corner soaker bathtub! The laundry / mud room is separate, has overhead cabinets and the washer and dryer are included also! There's central air, a linen cabinet in the guest bathroom, wood laminate flooring, and the table, couch, and beds can stay as a housewarming gift if you would like them! Outside has a 2 car driveway, deck, shed and landscaping! Pets are welcome also!

5. 2026-02-09
   historical 827-char remark

   Show marketing remark (827 chars)

   $790.00 monthly lot rent. With a unique bump out front window and tall cathedral ceilings, this home is the largest single wide made! The kitchen has a stainless steel stove, refrigerator, dishwasher, loads of cabinets, a separate buffet area, and a window over the sink. The living room is large and has a stone look accent wall. The main bedroom is spacious, has a double door closet, and an attached bathroom with a skylight, standing shower and a corner soaker bathtub! The laundry / mud room is separate, has overhead cabinets and the washer and dryer are included also! There's central air, a linen cabinet in the guest bathroom, wood laminate flooring, and the table, couch, and beds can stay as a housewarming gift if you would like them! Outside has a 2 car driveway, deck, shed and landscaping! Pets are welcome also!

6. 2026-02-09
   listed $74,900 827-char remark

   Show marketing remark (827 chars)

   $790.00 monthly lot rent. With a unique bump out front window and tall cathedral ceilings, this home is the largest single wide made! The kitchen has a stainless steel stove, refrigerator, dishwasher, loads of cabinets, a separate buffet area, and a window over the sink. The living room is large and has a stone look accent wall. The main bedroom is spacious, has a double door closet, and an attached bathroom with a skylight, standing shower and a corner soaker bathtub! The laundry / mud room is separate, has overhead cabinets and the washer and dryer are included also! There's central air, a linen cabinet in the guest bathroom, wood laminate flooring, and the table, couch, and beds can stay as a housewarming gift if you would like them! Outside has a 2 car driveway, deck, shed and landscaping! Pets are welcome also!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $30,272
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$2,422
• − Management: −$2,422
• − Depreciation: −$2,033
• Taxable income: $18,081
• Est. tax owed @ 24.0%: −$4,340
• After-tax cash flow: $13,779/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This single-wide mobile home requires moderate repairs and maintenance, with average condition overall. Upgrades to the exterior, windows, and landscaping would significantly enhance its value.

Repairs flagged

• Minor exterior siding — slight wear
• Moderate windows — some appear old
• Minor interior walls — some wear

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both replace windows — increases natural light and property value
• Both landscaping — improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · slight wear	Minor	$500–3,000
windows · some appear old	Moderate	$3,000–15,000
interior walls · some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace windows — increases natural light and property value ↑
• Both landscaping — improves curb appeal and enhances property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Farmington Public School District
• NCES district ID: 2711820
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $83,959
• Composite: 43.93/100
• National rank: #2905
• State rank: #104 of 301 in MN

Livability — Lakeville

• Score: 84/100
• State rank: #25
• US rank: #711

Category grades

Amenities D+ Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeville, MN
• County: Dakota County · 417,704 people
• City population: 64,762
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 37,287
• Household income: $127,280
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 288.0

Population outlook (Dakota County) Hauer SSP2

• Today (2025): 450,671 people
• By 2030: 465,068 · +3.2%
• By 2040: 486,770 · +8.0%
• By 2050: 498,743 · +10.7%
• By 2075: 533,865 · +18.5%
• By 2100: 550,133 · +22.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 6% Two or more races 4% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 14% Scottish 3% Romanian 3%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Dakota

• 2024 margin: D (+12.9) · D 55.4% · R 42.5% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 5.5pp · 2024: 12.9pp
• All cycles: 2024: D+12.9 2020: D+13.9 2016: D+4.7 2012: D+2.9 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.47%
• Current HPI: 225.6882
• Rent YoY: —
• 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

-6.7% since first listed

6 events — show timeline

• 2026-04-30 Price Changed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-28 Price Changed $71,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-15 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-09 Coming Soon $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-09 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid