2494 Wilshire Ct · Mendota Heights, MN 55120

$259,900

2 bd · 2.0 ba · 1,328 sqft · Other · 22 Days on market

Built 1989 Good condition $469/mo HOA · 16% of rent

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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).

• Cash flow +14.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• DSCR +4.4/10.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare opportunity to own this one level Kensington manor home boasting stunning and peaceful views of mature trees and pond! Featuring two spacious bedrooms, the primary suite has its own bath as well as an expansive walk-in closet. The vaulted living room offers a gas fireplace and walks out to the serene two-season sun porch. The kitchen has a center island which allows for plenty of counter and storage space and flows right into the dining area perfect for entertaining. All of this along with an attached one car garage and close access to parks, trails, and more at a price point so rare to find in Mendota Heights!

Key facts

• $469 HOA
• Garage
• Built 1989

Property features AI

Finance

• Other: Property is not fractional ownership
• HOA & community: HOA managed by First Service Residential; Monthly HOA fee (covers cable TV, internet, lawn care, grounds maintenance, sewer, snow removal, water)

Exterior

• Parking: Attached garage; 1-car garage (approx. 11 x 22); Asphalt driveway (shared); Guest parking available
• Utilities: City water connected; City sewer connected; 100 amp electric service; Xcel Energy power; Natural gas
• Home design: Residential attached property; Two levels; Main level entry living (primary and bedrooms on main level)
• Construction: Block construction; Asphalt roof (age 8 years or less); Foundation present (building area listed)
• Exterior features: Rear screened porch; Porch / Deck; Stone and wood exterior accents; Lake view and pond nearby; Tree coverage - medium; Public transit within about 6 blocks; Public maintained road

Interior

• Kitchen: Kitchen center island; Kitchen window; Range; Refrigerator; Freezer; Dishwasher
• Bedrooms: 2 bedrooms (both on the main level); Primary bedroom is a suite with private ensuite
• Bathrooms: 2 full bathrooms; Main floor full bath; Primary bathroom is private and ensuite
• Heating & cooling: Forced air heating; Central air conditioning; Gas water heater
• Interior features: All living facilities on one level; Main floor primary bedroom; Main floor bedroom; Main floor laundry; Primary bedroom suite; Informal dining room; Vaulted ceilings; Kitchen with center island and window; Walk-in closet(s); Ceiling fan(s)
• Laundry & utility: Washer and dryer included; Washer hookup; Gas dryer hookup; Laundry closet on main level; Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $56 ($668/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 1.3% in Mendota Heights — 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 (#26 in MN, #828 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, cost of living F.
• West St. Paul-Mendota Hts.-Eagan (suburban): math 42% / reading 54% proficiency, ranked #125 of 301 in MN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $220k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $256,001 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.13% ✓
• Cap rate: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.7%
• Equity multiple: 0.47×
• Total profit: $-38,239
• Equity at exit: $38,752

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-27,384
• Equity at exit: $22,471

Cash invested: $72,772 (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 55120

• Home prices YoY: -22.3%
• Active inventory: 16
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,938 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$469
• Vacancy / Maint / Mgmt: −$617
• Net cashflow: $56

Break-even live

Break-even rent $2,867

Max offer price $259,900

Occupancy floor 93%

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
710 Vikings Pkwy Eagan, MN	1.0–3.0	1.0–2.0	1259	$2,465	$1.96	1d	6	0.51mi
720 S Plaza Way Saint Paul, MN	1.0–2.0	2.0	1102	$3,795	$3.44	3d	5	1.13mi
725 S Plaza Way Saint Paul, MN	1.0–2.0	2.0	1128	$3,295	$2.92	2d	5	1.20mi

HOA detail

• Monthly dues: $469 · $5,628/yr
• Likely covers: gas

Listing history 21 events

1. 2026-06-18
   days on market $259,900 Active 22 DOM
2. 2026-06-17
   days on market $259,900 Active 21 DOM
3. 2026-06-16
   days on market $259,900 Active 20 DOM
4. 2026-06-15
   days on market $259,900 Active 19 DOM
5. 2026-06-13
   days on market $259,900 Active 17 DOM
6. 2026-06-10
   price $259,900 Active 13 DOM
7. 2026-06-09
   days on market $269,900 Active 13 DOM
8. 2026-06-08
   days on market $269,900 Active 12 DOM
9. 2026-06-07
   days on market $269,900 Active 11 DOM
10. 2026-06-04
    days on market $269,900 Active 8 DOM
11. 2026-06-03
    days on market $269,900 Active 7 DOM
12. 2026-06-02
    days on market $269,900 Active 6 DOM
13. 2026-06-01
    days on market $269,900 Active 5 DOM
14. 2026-05-31
    days on market $269,900 Active 4 DOM
15. 2026-05-28
    listed $269,900 Active
16. 2026-05-27
    historical $269,900
17. 2023-11-16
    soldstatus $219,900 Sold 623-char remark

    Show marketing remark (623 chars)

    Rare opportunity to own this one level Kensington manor home boasting stunning and peaceful views of mature trees and pond! Featuring two spacious bedrooms, the primary suite has its own bath as well as an expansive walk-in closet. The vaulted living room offers a gas fireplace and walks out to the serene two-season sun porch. The kitchen has a center island which allows for plenty of counter and storage space and flows right into the dining area perfect for entertaining. All of this along with an attached one car garage and close access to parks, trails, and more at a price point so rare to find in Mendota Heights!

18. 2023-09-25
    status Pending 623-char remark

    Show marketing remark (623 chars)

    Rare opportunity to own this one level Kensington manor home boasting stunning and peaceful views of mature trees and pond! Featuring two spacious bedrooms, the primary suite has its own bath as well as an expansive walk-in closet. The vaulted living room offers a gas fireplace and walks out to the serene two-season sun porch. The kitchen has a center island which allows for plenty of counter and storage space and flows right into the dining area perfect for entertaining. All of this along with an attached one car garage and close access to parks, trails, and more at a price point so rare to find in Mendota Heights!

19. 2023-09-13
    historical Contingent - Subject to Statutory Rescission 623-char remark

    Show marketing remark (623 chars)

    Rare opportunity to own this one level Kensington manor home boasting stunning and peaceful views of mature trees and pond! Featuring two spacious bedrooms, the primary suite has its own bath as well as an expansive walk-in closet. The vaulted living room offers a gas fireplace and walks out to the serene two-season sun porch. The kitchen has a center island which allows for plenty of counter and storage space and flows right into the dining area perfect for entertaining. All of this along with an attached one car garage and close access to parks, trails, and more at a price point so rare to find in Mendota Heights!

20. 2023-09-06
    listed $219,900 Active 623-char remark

    Show marketing remark (623 chars)

    Rare opportunity to own this one level Kensington manor home boasting stunning and peaceful views of mature trees and pond! Featuring two spacious bedrooms, the primary suite has its own bath as well as an expansive walk-in closet. The vaulted living room offers a gas fireplace and walks out to the serene two-season sun porch. The kitchen has a center island which allows for plenty of counter and storage space and flows right into the dining area perfect for entertaining. All of this along with an attached one car garage and close access to parks, trails, and more at a price point so rare to find in Mendota Heights!

21. 2023-08-31
    historical $219,900 623-char remark

    Show marketing remark (623 chars)

    Rare opportunity to own this one level Kensington manor home boasting stunning and peaceful views of mature trees and pond! Featuring two spacious bedrooms, the primary suite has its own bath as well as an expansive walk-in closet. The vaulted living room offers a gas fireplace and walks out to the serene two-season sun porch. The kitchen has a center island which allows for plenty of counter and storage space and flows right into the dining area perfect for entertaining. All of this along with an attached one car garage and close access to parks, trails, and more at a price point so rare to find in Mendota Heights!

ⓘ 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 ≥98°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: $35,252
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,820
• − Management: −$2,820
• − HOA: −$5,628
• − Depreciation: −$7,561
• Taxable loss: −$3,334
• Est. tax savings @ 24.0%: +$800
• After-tax cash flow: $1,468/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

Good 75/100 Cosmetic rehab

This one-level Kensington Manor home is in good condition with a good condition score of 75. It features a modern kitchen, good exterior, and well-maintained interior. The property is move-in ready with minor cosmetic updates needed for optimal resale and rental value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Rental Clean gutters — Clean gutters improve drainage and reduce maintenance costs for tenants.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Clean gutters — Clean gutters improve drainage and reduce maintenance costs for tenants. ↑

ⓘ 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: West St. Paul-Mendota Hts.-Eagan
• NCES district ID: 2742270
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 54% ▼ -6.00%
• Median HH income: $63,769
• Composite: 42.4/100
• National rank: #3234
• State rank: #125 of 301 in MN

Livability — Mendota Heights

• Score: 84/100
• State rank: #26
• US rank: #828

Category grades

Amenities F Commute A+ 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: Mendota Heights, MN
• City population: 5,080
• Population (ZIP): 5,080

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 (70%)
• Race & ethnicity: White 70% Two or more races 18% Asian 7% Hispanic / Latino 5% Black 1%
• Common ancestry: Portuguese 9% Romanian 4% Scottish 2%
• Foreign-born: 8% · Vietnam, Canada
• Languages at home: 89% English-only · Spanish 2% Tagalog/Filipino 2% Vietnamese 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: ▼ -64.00%
• Current HPI: 222.5557
• 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

+22.7% since first listed

7 events — show timeline

• 2026-05-28 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-27 Coming Soon $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-11-16 Sold (MLS) $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-13 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-06 Listed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-31 Coming Soon $219,900 NORTHSTARMLS as Distributed by MLS Grid