17025 Eastwood Ave #35 · Lakeville, MN 55024

$274,900

2 bd · 2.0 ba · 1,518 sqft · Townhouse public records · 14 Days on market

Built 2002 Est $281k · at est. $380/mo HOA · 14% 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 +12.0/30.0
• ARV discount +8.5/15.0
• 1% rule +4.6/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home! This townhome was the model unit for the builder and therefore has above average finishes throughout. This end unit townhome walks out into one of the largets yards in the association.

Key facts

• End unit townhome
• Gas fireplace
• Vaulted living room

Tags

• END UNIT TOWNHOME
• LUXURY LAMINATE FLOORING
• UPDATED QUARTZ COUNTERTOPS
• VAULTED LIVING ROOM
• GAS FIREPLACE
• VERSATILE LOFT

Property features AI

Finance

• HOA & community: HOA managed by Network Management; Monthly association fee of $380; HOA covers hazard insurance, lawn care, grounds maintenance, professional management, and snow removal

Exterior

• Parking: Attached garage with automatic opener; 2-car garage (approximately 22 x 24)
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers
• Home design: Attached residential property; Two levels; Entry on main level
• Construction: Frame construction; Asphalt roof (over 8 years); Slab foundation; Built area above grade approximately 1,518
• Exterior features: Patio; Stone and vinyl exterior; Corner lot; Zero lot line; Association-maintained road

Interior

• Kitchen: Kitchen on main level; Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms (one bedroom on the upper level; second bedroom/bedroom 2 on the upper level); Upper-level loft space
• Bathrooms: 1 full bath (upper level); 1 half bath (main floor)
• Interior features: Vaulted ceilings; Walk-in closet; Informal dining area; Main floor laundry; Gas fireplace (1)
• Laundry & utility: In-unit laundry on main level; Washer; Dryer; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $275k.

Deal economics

• At list price, monthly cash flow is $-68 ($-812/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (4.0% below list).
• Recommended offer: $263k (4.3% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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: crime A+, employment A+, housing 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.
• Zoned schools: North Trail Elementary (math 57% / reading 57%, grade C+, #265 of 857 statewide, top 35%, 639 students, 34% FRL); Levi P. Dodge Middle School (math 37% / reading 54%, grade D+, #106 of 258 statewide, top 43%, 721 students, 27% FRL); Farmington High School (math 32% / reading 56%, grade F, #210 of 471 statewide, top 44%, 2,201 students, 22% FRL) — zoned schools average 28% FRL vs 12% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 325 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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 $168k; list at $275k implies a 64% gain — meaningful room to come down on a strong offer.

Recommended offer $262,946 (4.3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.96% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.05%
• DSCR: 0.95
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $280,830
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17231 Encina Path #2605	0.37mi	2/2.0	1,462 (-4%)	23mo	$269,900	$185	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -17.9%
• Equity multiple: 0.37×
• Total profit: $-48,661
• Equity at exit: $40,988

10-year hold

• IRR: -10.0%
• Equity multiple: 0.39×
• Total profit: $-47,131
• Equity at exit: $23,768

Cash invested: $76,972 (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 55024

• Home prices YoY: -31.2%
• Active inventory: 325
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,638 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$216 /mo · $2,588/yr
• Insurance: −$115
• HOA: −$380
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $-68

Break-even live

Break-even rent $2,724

Max offer price $262,946

Occupancy floor 98%

Sensitivity live

Price	-10% $88	-5% $10	+0% $-68	+5% $-145	+10% $-223
Rent	-10% $-276	-5% $-172	+0% $-68	+5% $37	+10% $141
Rate	-1.0pp $71	-0.5pp $2	base $-68	+0.5pp $-139	+1.0pp $-211

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17079 Dysart Pl Lakeville, MN	3.0	3.0	1894	$2,795	$1.48	12d	1	0.14mi
17066 Dysart Pl Unit 17066 Lakeville, MN	3.0	2.5	1894	$2,895	$1.53	21d	1	0.16mi
17074 Dysart Pl Unit 17074 Lakeville, MN	3.0	2.5	1750	$2,800	$1.60	12d	1	0.16mi
17040 Dysart Pl Unit 17040 Lakeville, MN	3.0	2.5	1700	$2,700	$1.59	0d	1	0.17mi
5076 161st St W Lakeville, MN	1.0–3.0	1.0–2.0	1186	$2,203	$1.86	0d	14	0.93mi
5017 161st St W Unit 5017 Lakeville, MN	2.0	2.5	1895	$3,350	$1.77	16d	1	0.96mi
5181 161st St W Lakeville, MN	1.0–3.0	1.0–2.0	1044	$1,973	$1.89	0d	4	0.98mi
16106 Duvane Way Lakeville, MN	3.0	3.0	1564	$3,395	$2.17	23d	1	1.02mi
15899 Elmhurst Ln Saint Paul, MN	3.0	1.0–2.0	1031	$2,268	$2.20	0d	14	1.15mi
18388 English Ave Farmington, MN	2.0	2.0	1544	$1,999	$1.29	45d	1	1.34mi

HOA detail

• Monthly dues: $380 · $4,560/yr

Listing history 13 events

1. 2026-05-08
   status Pending
2. 2026-04-28
   historical Contingent - Inspection
3. 2026-04-24
   listed $274,900 Active
4. 2026-04-24
   historical
5. 2026-04-13
   price $277,500
6. 2026-04-01
   status Active
7. 2026-02-26
   listed $285,000 Active
8. 2016-09-06
   soldstatus $167,900
9. 2016-08-19
   soldstatus $167,900 Sold 198-char remark

   Show marketing remark (198 chars)

   Welcome Home! This townhome was the model unit for the builder and therefore has above average finishes throughout. This end unit townhome walks out into one of the largets yards in the association.

10. 2016-07-13
    status Pending 198-char remark

    Show marketing remark (198 chars)

    Welcome Home! This townhome was the model unit for the builder and therefore has above average finishes throughout. This end unit townhome walks out into one of the largets yards in the association.

11. 2016-07-07
    historical Contingent - Inspection 198-char remark

    Show marketing remark (198 chars)

    Welcome Home! This townhome was the model unit for the builder and therefore has above average finishes throughout. This end unit townhome walks out into one of the largets yards in the association.

12. 2016-07-05
    listed $167,900 Active 198-char remark

    Show marketing remark (198 chars)

    Welcome Home! This townhome was the model unit for the builder and therefore has above average finishes throughout. This end unit townhome walks out into one of the largets yards in the association.

13. 2007-04-04
    soldstatus $190,778

ⓘ 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: $2,588 · $216/mo
• Projected year-2 tax: $2,833 · $236/mo
• Expected delta: +$245/yr (+$20/mo · 9.5%)

ⓘ 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: $31,658
• − Mortgage interest: −$15,399
• − Property taxes: −$2,588
• − Insurance: −$1,374
• − Repairs & maintenance: −$2,533
• − Management: −$2,533
• − HOA: −$4,560
• − Depreciation: −$7,997
• Taxable loss: −$5,326
• Est. tax savings @ 24.0%: +$1,278
• After-tax cash flow: $466/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: 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

+44.1% since first listed

13 events — show timeline

• 2026-05-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-28 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Listed $274,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $277,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-26 Listed $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-06 Sold (Public Records) $167,900 Public Records
• 2016-08-19 Sold (MLS) $167,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-07-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-07-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2016-07-05 Listed $167,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-04-04 Sold (Public Records) $190,778 Public Records

Property tax history

+3.3%/yr

Latest (2025): $2,588 · -1.5% YoY. Source: county tax records.