6700 Kara Dr · Eden Prairie, MN 55346

$324,900

3 bd · 2.5 ba · 1,529 sqft · SingleFamily public records · 21 Days on market

Built 1984 0.36 ac lot $212/sqft · 22% below area Est $477k · 32% under

---

Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +12.0/30.0
• Schools +6.0/10.0
• Livability +4.2/5.0
• DSCR +3.5/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large twinhome with 3 bedrooms plus loft that overlooks main floor living area with vaulted ceilings!! Sliding door off dining room to large deck and stairs to two more areas of deck on wooded lot! Easy access to 494 and 62, Great EP Schools!

Key facts

• Asphalt driveway
• New carpet
• Spacious lot

Tags

• KITCHEN UPGRADE
• GRANITE COUNTERTOPS
• NEW CARPET
• ASPHALT DRIVEWAY
• SPACIOUS LOT

Property features AI

Finance

• Other: Above-grade finished area 1,092 (main level finished area 1,092); below-grade finished area 661; total living area listed as 1,753 and total building area 2,414

Exterior

• Parking: Attached tuck-under garage with garage door opener; 2 garage spaces; Asphalt driveway
• Utilities: City water (in street); City sewer (in street); Natural gas
• Home design: Residential attached property; Four-or-more-level split floor plan
• Construction: Block construction; Block foundation
• Exterior features: Vinyl exterior; Deck; Lot approximately 0.36 acres with irregular dimensions (37x255x94x225)

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 3 bedrooms (one on upper level, one on lower level, others on main/upper levels as noted)
• Bathrooms: One full bathroom on upper level; One 3/4 bathroom in basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Deck; Dining room; Family room; Living room; Loft

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-77 ($-922/yr) — negative.
• To cash-flow at today's rent, offer at most $311k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $262k (19.5% below list).
• Recommended offer: $262k (19.5% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.7% in Eden Prairie — 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 85/100 on livability (#21 in MN, #575 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• Eden Prairie Public School District (urban): math 61% / reading 70% proficiency, ranked #13 of 301 in MN (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Eagle Heights Spanish Immersion (math 62% / reading 75%, grade B+, #91 of 857 statewide, top 11%, 715 students, 9% FRL); Central Middle School (math 55% / reading 69%, grade B+, #19 of 258 statewide, top 8%, 1,909 students, 30% FRL); Eden Prairie Senior High (math 61% / reading 71%, grade B, #24 of 471 statewide, top 5%, 2,833 students, 31% FRL).
• Market conditions: 62 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Hennepin County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 6 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.

Recommended offer $261,598 (19.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.81% ✗
• Cap rate: 6.01%
• Cash-on-cash: -1.01%
• DSCR: 0.95
• GRM: 10.3

CMA / ARV

• ARV (median comp): $476,828
• List price: $324,900
• Delta: -31.86%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -18.0%
• Equity multiple: 0.37×
• Total profit: $-57,564
• Equity at exit: $48,444

10-year hold

• IRR: -10.2%
• Equity multiple: 0.38×
• Total profit: $-56,520
• Equity at exit: $28,091

Cash invested: $90,972 (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 55346

• Active inventory: 62
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,616 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$304 /mo · $3,651/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $-77

Break-even live

Break-even rent $2,713

Max offer price $311,329

Occupancy floor 98%

Sensitivity live

Price	-10% $107	-5% $15	+0% $-77	+5% $-169	+10% $-261
Rent	-10% $-283	-5% $-180	+0% $-77	+5% $27	+10% $130
Rate	-1.0pp $87	-0.5pp $6	base $-77	+0.5pp $-161	+1.0pp $-247

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6718 Vermar Ter Eden Prairie, MN	4.0	2.0	2100	$2,800	$1.33	45d	1	0.12mi
6502 Kingfisher Ln Eden Prairie, MN	2.0–3.0	1.5–2.5	1293	$2,895	$2.24	0d	5	0.90mi
14247 Valley View Rd Eden Prairie, MN	1.0–3.0	1.0–2.0	1003	$2,075	$2.07	3d	11	0.93mi
14315 Fairway Dr Unit 14315 Eden Prairie, MN	2.0	2.0	1256	$1,750	$1.39	45d	1	1.09mi
15598 Garfield Cir Eden Prairie, MN	4.0	2.0	1600	$2,995	$1.87	19d	1	1.24mi
14301 Martin Dr Eden Prairie, MN	2.0	1.0–2.0	829	$2,180	$2.63	0d	12	1.28mi
6485 Grandview Dr Eden Prairie, MN	2.0	1.0	1050	$1,600	$1.52	14d	1	1.45mi

Listing history 18 events

1. 2026-05-11
   historical Contingent - Inspection 716-char remark
2. 2026-05-07
   status Active 716-char remark
3. 2026-05-04
   historical Contingent - Inspection 716-char remark
4. 2026-05-01
   listed $324,900 Active 716-char remark
5. 2010-12-21
   historical
6. 2010-12-10
   listed $199,900
7. 2006-07-14
   soldstatus $224,100
8. 2006-06-30
   soldstatus $224,100

   Show marketing remark (243 chars)

   Large twinhome with 3 bedrooms plus loft that overlooks main floor living area with vaulted ceilings!! Sliding door off dining room to large deck and stairs to two more areas of deck on wooded lot! Easy access to 494 and 62, Great EP Schools!

9. 2006-06-06
   historical

   Show marketing remark (243 chars)

   Large twinhome with 3 bedrooms plus loft that overlooks main floor living area with vaulted ceilings!! Sliding door off dining room to large deck and stairs to two more areas of deck on wooded lot! Easy access to 494 and 62, Great EP Schools!

10. 2006-05-27
    listed $219,900

    Show marketing remark (243 chars)

    Large twinhome with 3 bedrooms plus loft that overlooks main floor living area with vaulted ceilings!! Sliding door off dining room to large deck and stairs to two more areas of deck on wooded lot! Easy access to 494 and 62, Great EP Schools!

11. 2001-04-24
    soldstatus $165,000
12. 1996-09-26
    soldstatus $117,900
13. 1996-07-30
    soldstatus $117,900
14. 1996-07-30
    soldstatus $117,900
15. 1996-06-25
    historical
16. 1996-06-25
    historical
17. 1996-06-17
    listed $117,900
18. 1996-06-17
    listed $117,900

ⓘ 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: $3,651 · $304/mo
• Projected year-2 tax: $3,651 · $304/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,392
• − Mortgage interest: −$18,199
• − Property taxes: −$3,651
• − Insurance: −$1,624
• − Repairs & maintenance: −$2,511
• − Management: −$2,511
• − Depreciation: −$9,452
• Taxable loss: −$6,558
• Est. tax savings @ 24.0%: +$1,574
• After-tax cash flow: $652/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: Eden Prairie Public School District
• NCES district ID: 2714220
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 70% ▼ -3.00%
• Median HH income: $95,212
• Composite: 59.93/100
• National rank: #879
• State rank: #13 of 301 in MN

Livability — Eden Prairie

• Score: 85/100
• State rank: #21
• US rank: #575

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eden Prairie, MN
• City population: 44,463
• Population (ZIP): 18,602

Population outlook (Hennepin County) Hauer SSP2

• Today (2025): 1,405,227 people
• By 2030: 1,492,650 · +6.2%
• By 2040: 1,660,157 · +18.1%
• By 2050: 1,823,498 · +29.8%
• By 2075: 2,221,283 · +58.1%
• By 2100: 2,509,976 · +78.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 8% Asian 8% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Portuguese 11% Romanian 3% Italian 3%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 80% English-only · Other Asian/Pacific 4% Spanish 3% Other Indo-European 2%

Political lean MEDSL · Hennepin

• 2024 margin: Solid D (+42.6) · D 70.2% · R 27.5% · Other 2.3%
• 2008→2024 swing: +14.0pp toward D · 2008: 28.6pp · 2024: 42.6pp
• All cycles: 2024: D+42.6 2020: D+43.2 2016: D+35.3 2012: D+27.1 2008: D+28.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -269.24%
• Current HPI: 230.5792
• Rent YoY: —
• Metro: —
• 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

+179.9% since first listed

20 events — show timeline

• 2026-06-16 Sold (MLS) $330,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $324,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-10 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-07-14 Sold (Public Records) $224,100 Public Records
• 2006-06-30 Sold (MLS) $224,100 NORTHSTARMLS as Distributed by MLS Grid
• 2006-06-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-05-27 Listed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2001-04-24 Sold (Public Records) $165,000 Public Records
• 1996-09-26 Sold (Public Records) $117,900 Public Records
• 1996-07-30 Sold (MLS) $117,900 NORTHSTARMLS as Distributed by MLS Grid
• 1996-07-30 Sold (MLS) $117,900 NORTHSTARMLS as Distributed by MLS Grid
• 1996-06-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-06-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-06-17 Listed $117,900 NORTHSTARMLS as Distributed by MLS Grid
• 1996-06-17 Listed $117,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $3,651 · +0.7% YoY. Source: county tax records.