3431 Kent St #813 · Shoreview, MN 55126

$69,999

1 bd · 1.0 ba · 638 sqft · Condo public records · 30 Days on market

Built 1972 $417/mo HOA · 30% of rent ↓ 30% since listing

---

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 +25.3/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The one you've been waiting for. This unit hasone of the best views of the complex! QUICK CLOSE POSSIBLE. This 1 Bed, 1 Bath condo unit is available for the first time in many years. Hardwood floors, large deck with a great central view of the courtyard & pool. Assigned underground heated parking #120. Relax by the swimming pool or take a short walk to Lake Owasso with Deeded access including a picnic area, grill and swimming beach. Clubhouse, party room with full kitchen, sauna, exercise room & tennis courts. Secure and well kept building. Convenient location with easy access to highways and restaurants.

Key facts

• $417 HOA
• Garage
• Pool

Property features AI

Finance

• Other: Shared amenity rooms: amusement/party room and exercise room
• HOA & community: Managed by Alchemy Properties; Monthly association fee of $417; Association amenities include beach access, car wash, lobby entrance, sauna and tennis courts; Association fee covers beach access, lawn care, grounds maintenance, professional management, sewer, shared amenities, snow removal and water

Exterior

• Parking: Heated underground garage (secured) with guest parking; One garage space
• Security: Secured garage/entry
• Utilities: City water; City sewer; Natural gas; Electric service by Xcel Energy
• Home design: Attached residential property; One story; Above-grade finished area 638 (main level living)
• Construction: Block and frame construction; Brick/mortar foundation
• Exterior features: Stone exterior accents; Deck; Below-ground heated pool; Association and deeded water access; Zero lot line

Interior

• Kitchen: Compact kitchen on the main level (8 x 7); Includes dishwasher, range and refrigerator
• Bedrooms: One bedroom on the main level (14 x 12)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard heating; Window air conditioning units
• Interior features: All living facilities on one level; Informal dining area; Dishwasher, Range, Refrigerator
• Laundry & utility: Laundry room in hall

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.8% in Shoreview — 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 79/100 on livability (#89 in MN, #2,019 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: cost of living C-, amenities F, health & safety F.
• Mounds View Public School District (suburban): math 58% / reading 64% proficiency, ranked #30 of 301 in MN (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.7%/yr); 147 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).
• This rent is only 15% of the median local income ($108k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ramsey County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $20k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $68,949 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.00% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.80%
• DSCR: 1.44
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $103
• Equity at exit: $10,437

10-year hold

• IRR: 11.2%
• Equity multiple: 1.94×
• Total profit: $18,394
• Equity at exit: $6,052

Cash invested: $19,600 (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 55126

• Rents YoY: 3.7%
• Active inventory: 147
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,397 high
• Mortgage (P&I): −$367
• Tax from tax record: −$130 /mo · $1,564/yr
• Insurance: −$29
• HOA: −$417
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $160

Break-even live

Break-even rent $1,194

Max offer price $69,999

Occupancy floor 84%

Sensitivity live

Price	-10% $200	-5% $180	+0% $160	+5% $140	+10% $120
Rent	-10% $50	-5% $105	+0% $160	+5% $215	+10% $270
Rate	-1.0pp $195	-0.5pp $178	base $160	+0.5pp $142	+1.0pp $123

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3431 Kent St #711 Saint Paul, MN	1.0	1.0	638	$1,250	$1.96	44d	1	0.03mi
577 Harriet Ave Shoreview, MN	1.0–2.0	1.0–2.0	950	$1,275	$1.34	2d	31	0.14mi
3529 Owasso St Shoreview, MN	1.0	1.0	625	$1,550	$2.48	44d	1	0.24mi
3500 Rice St Saint Paul, MN	2.0	1.0–2.0	911	$2,318	$2.54	2d	19	0.95mi
1005 Gramsie Rd Saint Paul, MN	1.0–3.0	1.0–3.0	1092	$1,716	$1.57	2d	8	1.43mi

HOA detail condo

• Monthly dues: $417 · $5,004/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $69,999 Active 30 DOM
2. 2026-06-17
   days on market $69,999 Active 29 DOM
3. 2026-06-16
   days on market $69,999 Active 28 DOM
4. 2026-06-15
   days on market $69,999 Active 27 DOM
5. 2026-06-13
   days on market $69,999 Active 25 DOM
6. 2026-06-13
   pricedays on market $69,999 Active 24 DOM
7. 2026-06-09
   days on market $74,900 Active 21 DOM
8. 2026-06-08
   days on market $74,900 Active 20 DOM
9. 2026-06-07
   days on market $74,900 Active 19 DOM
10. 2026-06-04
    days on market $74,900 Active 16 DOM
11. 2026-06-03
    days on market $74,900 Active 15 DOM
12. 2026-06-02
    days on market $74,900 Active 14 DOM
13. 2026-06-01
    days on market $74,900 Active 13 DOM
14. 2026-05-31
    days on market $74,900 Active 12 DOM
15. 2026-05-16
    listed $74,900 Active 620-char remark
16. 2026-05-06
    historical $74,900 620-char remark
17. 2026-03-24
    historical
18. 2026-03-12
    price $74,900
19. 2026-01-10
    price $84,900
20. 2025-11-20
    price $94,900
21. 2025-11-06
    listed $99,900 Active

ⓘ 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: $1,564 · $130/mo
• Projected year-2 tax: $1,564 · $130/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 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: $16,764
• − Mortgage interest: −$3,921
• − Property taxes: −$1,564
• − Insurance: −$350
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − HOA: −$5,004
• − Depreciation: −$2,036
• Taxable income: $1,207
• Est. tax owed @ 24.0%: −$290
• After-tax cash flow: $1,631/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: Mounds View Public School District
• NCES district ID: 2722950
• Math proficiency: 58% ▼ -9.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $72,492
• Composite: 54.04/100
• National rank: #1390
• State rank: #30 of 301 in MN

Livability — Shoreview

• Score: 79/100
• State rank: #89
• US rank: #2019

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shoreview, MN
• County: Ramsey County · 542,837 people
• City population: 27,456
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 27,456
• Household income: $108,217
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 468.0

Population outlook (Ramsey County) Hauer SSP2

• Today (2025): 603,431 people
• By 2030: 636,459 · +5.5%
• By 2040: 700,596 · +16.1%
• By 2050: 765,819 · +26.9%
• By 2075: 929,297 · +54.0%
• By 2100: 1,053,924 · +74.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Asian 10% Two or more races 7% Hispanic / Latino 5% Black 4%
• Common ancestry: Portuguese 11% Lithuanian 3% Romanian 3%
• Foreign-born: 10% · China, Canada, South Korea
• Languages at home: 88% English-only · Other Indo-European 3% Chinese 3% Spanish 2%

Political lean MEDSL · Ramsey

• 2024 margin: Solid D (+43.3) · D 70.5% · R 27.2% · Other 2.3%
• 2008→2024 swing: +9.4pp toward D · 2008: 33.9pp · 2024: 43.3pp
• All cycles: 2024: D+43.3 2020: D+45.4 2016: D+39.4 2012: D+35.3 2008: D+33.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -268.72%
• Current HPI: 245.484
• Rent YoY: ▲ 3.67%
• 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

-29.9% since first listed

10 events — show timeline

• 2026-06-10 Price Changed $69,999 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-30 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-16 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Coming Soon $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-10 Price Changed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-20 Price Changed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-06 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2025): $1,564 · +9.7% YoY. Source: county tax records.