1349 Easter Ln · Eagan, MN 55123

$460,000

6 bd · 3.0 ba · 2,184 sqft · MultiFamily public records · 13 Days on market

Built 1975 0.66 ac lot

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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 +13.0/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +4.3/5.0
• DSCR +3.9/10.0
• Rent growth +3.3/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Key facts

• 0.66 acre lot
• 2 garage spots
• Built 1975

Property features AI

Finance

• Other: Total living area approximately 2,098 square feet (1,049 per unit); Lot roughly 0.661 acres

Exterior

• Parking: Detached or attached garage with 2 garage spaces
• Utilities: City water connected; City sewer connected; Natural gas fuel
• Home design: Residential income property — duplex side-by-side; Split entry (bi-level) with two levels; Not owner-occupied
• Construction: Block foundation
• Exterior features: No fencing; Curbed road frontage

Interior

• Kitchen: Cooktop; Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Six total bedrooms (three in each unit)
• Bathrooms: Each unit has 2 bathrooms (1 full and 1 half)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement; Split entry (bi-level) layout; Two units (duplex side-by-side)
• Laundry & utility: In-unit laundry (washer and dryer listed); Water heater (Electric in one unit, Gas in the other); Owned water softener

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $460k.

Deal economics

• At list price, monthly cash flow is $-28 ($-334/yr) — negative. Per door: $-14/mo.
• To cash-flow at today's rent, offer at most $455k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $372k (19.0% below list).
• Recommended offer: $372k (19.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.3% in Eagan — 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 86/100 on livability (#13 in MN, #418 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living D+, amenities F.
• Rosemount-Apple Valley-Eagan (suburban): math 50% / reading 58% proficiency, ranked #58 of 301 in MN (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Northview Elementary (math 50% / reading 52%, grade C-, #406 of 857 statewide, top 48%, 391 students, 24% FRL); Black Hawk Middle (math 42% / reading 58%, grade C, #77 of 258 statewide, top 31%, 894 students, 43% FRL); Eagan Senior High (math 54% / reading 77%, grade B, #26 of 471 statewide, top 5%, 2,171 students, 23% FRL).
• Market conditions: Rents rising (+3.1%/yr); 140 active listings in the ZIP; high-income renter base; 2,134 units permitted in Dakota County in 2024 (898 in 5+ unit buildings).
• This rent runs 32% of the median local income ($139k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $372,400 (19.0% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-76,085
• Equity at exit: $68,587

10-year hold

• IRR: -8.4%
• Equity multiple: 0.48×
• Total profit: $-67,596
• Equity at exit: $39,772

Cash invested: $128,800 (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 55123

• Rents YoY: 3.1%
• Active inventory: 140
• Price-to-rent: 20.6×

Monthly cashflow live

• Estimated rent: $3,724 medium
• Mortgage (P&I): −$2,412
• Tax from tax record: −$366 /mo · $4,390/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$782
• Net cashflow: $-28

Break-even live

Break-even rent $3,759

Max offer price $455,084

Occupancy floor 96%

Sensitivity live

Price	-10% $233	-5% $102	+0% $-28	+5% $-158	+10% $-288
Rent	-10% $-322	-5% $-175	+0% $-28	+5% $119	+10% $266
Rate	-1.0pp $204	-0.5pp $89	base $-28	+0.5pp $-147	+1.0pp $-268

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,724
Total (2 units)			$3,724

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-08
   statusdays on market $460,000 Pending 13 DOM
2. 2026-06-07
   days on market $460,000 Contingent - Inspection 12 DOM
3. 2026-06-04
   days on market $460,000 Contingent - Inspection 9 DOM
4. 2026-06-03
   days on market $460,000 Contingent - Inspection 8 DOM
5. 2026-06-02
   days on market $460,000 Contingent - Inspection 7 DOM
6. 2026-06-01
   days on market $460,000 Contingent - Inspection 6 DOM
7. 2026-06-01
   status $460,000 Contingent - Inspection 5 DOM
8. 2026-05-31
   days on market $460,000 Active 5 DOM
9. 2026-05-22
   historical $460,000
10. 2026-05-22
    price $460,000
11. 2026-02-26
    historical
12. 2026-02-25
    listed $440,000

ⓘ 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: $4,390 · $366/mo
• Projected year-2 tax: $4,771 · $398/mo
• Expected delta: +$381/yr (+$32/mo · 8.7%)

ⓘ 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: $44,688
• − Mortgage interest: −$25,767
• − Property taxes: −$4,390
• − Insurance: −$2,300
• − Repairs & maintenance: −$3,575
• − Management: −$3,575
• − Depreciation: −$13,382
• Taxable loss: −$8,301
• Est. tax savings @ 24.0%: +$1,992
• After-tax cash flow: $1,658/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: Rosemount-Apple Valley-Eagan
• NCES district ID: 2732390
• Math proficiency: 50% ▼ -14.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $85,559
• Composite: 49.48/100
• National rank: #2000
• State rank: #58 of 301 in MN

Livability — Eagan

• Score: 86/100
• State rank: #13
• US rank: #418

Category grades

Amenities F Commute A+ Cost of living D+ 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: Eagan, MN
• County: Dakota County · 417,704 people
• City population: 67,960
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 26,501
• Household income: $139,215
• Rent vs Own: 22.1% rent · 77.9% own
• Severe rent burden: 376.0

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 (77%)
• Race & ethnicity: White 77% Asian 10% Hispanic / Latino 6% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 12% Italian 5% Romanian 4%
• Foreign-born: 12% · Canada, South Korea, China
• Languages at home: 86% English-only · Spanish 4% Other Asian/Pacific 4% Other Indo-European 2%

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: ▼ -172.93%
• Current HPI: 214.1028
• Rent YoY: ▲ 3.08%
• 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

+4.5% since first listed

4 events — show timeline

• 2026-05-22 Coming Soon $460,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-22 Price Changed $460,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-25 Listed $440,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.3%/yr

Latest (2025): $4,390 · -0.9% YoY. Source: county tax records.