3664 Abbey Way Unit B · Eagan, MN 55123

$165,000

2 bd · 2.0 ba · 1,572 sqft · Townhouse public records · 37 Days on market

Built 1985 $365/mo HOA · 18% of rent

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Why this score? — see what drove the C- 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 +16.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +5.2/10.0
• Schools +4.9/10.0
• Livability +4.3/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, location, this spacious multi-level condo provides maintenance free living. In school district #196, Glacier Hills Elementary; which has just received the Magnet School of America's 2024 Top School of Excellence award! Large living room with a fireplace opens to the dining room and walks out to a large private deck. Upper level features the primary bedroom and walk through ensuite with walk in closet and a secondary bedroom. This property is a must see!

Key facts

• $365 HOA
• 2 garage spots
• Built 1985

Property features AI

Finance

• Other: Above-grade finished living area approximately 1,572
• Financial info: Property is free and clear
• HOA & community: Has HOA managed by Network Management Company; HOA fee $365 monthly covering grounds maintenance and professional management

Exterior

• Parking: Attached 2-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Attached residential property; More than 2 stories; Main entry level and upper level layout
• Construction: Block foundation; Foundation area approximately 786
• Exterior features: Stone exterior; No fencing; No pool

Interior

• Kitchen: Main-level kitchen
• Bedrooms: 2 bedrooms (both on upper level)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Main-level deck; Family room
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $165k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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.
• Market conditions: Rents rising (+3.1%/yr); 142 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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).
• This rent is only 18% of the median local income ($139k/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 $1k of loan paydown is wiped out by about $5k 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 37 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.24% ✓
• Cap rate: 7.03%
• Cash-on-cash: 2.62%
• DSCR: 1.12
• GRM: 6.7

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: -11.9%
• Equity multiple: 0.57×
• Total profit: $-19,879
• Equity at exit: $24,602

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-7,300
• Equity at exit: $14,266

Cash invested: $46,200 (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: 142
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,039 high
• Mortgage (P&I): −$865
• Tax from tax record: −$210 /mo · $2,526/yr
• Insurance: −$69
• HOA: −$365
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $101

Break-even live

Break-even rent $1,911

Max offer price $165,000

Occupancy floor 90%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3601-3699 Crossroad Ct Eagan, MN	3.0	1.5	1340	$2,412	$1.80	1d	2	0.51mi
3475 Golfview Dr Saint Paul, MN	1.0–3.0	1.0–2.0	991	$1,920	$1.94	1d	11	0.55mi
3467 Chestnut Ln Saint Paul, MN	3.0	3.0	1788	$2,699	$1.51	1d	1	0.65mi
1160 Northwood Dr Eagan, MN	1.0–2.0	1.0–2.5	991	$2,000	$2.02	2d	7	0.78mi
900 Wescott Sq Unit 202 Eagan, MN	3.0	1.0	1100	$1,574	$1.43	4d	1	0.93mi
1364 High Site Dr Saint Paul, MN	3.0	1.0–1.5	843	$2,043	$2.42	1d	17	1.35mi

HOA detail

• Monthly dues: $365 · $4,380/yr

Listing history 32 events

1. 2026-06-18
   days on market $165,000 Active 37 DOM
2. 2026-06-17
   pricedays on market $165,000 Active 36 DOM
3. 2026-06-16
   days on market $175,000 Active 35 DOM
4. 2026-06-15
   days on market $175,000 Active 34 DOM
5. 2026-06-13
   days on market $175,000 Active 32 DOM
6. 2026-06-13
   days on market $175,000 Active 31 DOM
7. 2026-06-09
   days on market $175,000 Active 28 DOM
8. 2026-06-08
   days on market $175,000 Active 27 DOM
9. 2026-06-07
   days on market $175,000 Active 26 DOM
10. 2026-06-04
    days on market $175,000 Active 23 DOM
11. 2026-06-03
    days on market $175,000 Active 22 DOM
12. 2026-06-02
    days on market $175,000 Active 21 DOM
13. 2026-06-01
    days on market $175,000 Active 20 DOM
14. 2026-05-31
    days on market $175,000 Active 19 DOM
15. 2026-05-12
    listed $175,000 Active
16. 2024-04-10
    soldstatus $275,000
17. 2024-04-05
    soldstatus $275,000 Sold 467-char remark

    Show marketing remark (467 chars)

    Location, location, this spacious multi-level condo provides maintenance free living. In school district #196, Glacier Hills Elementary; which has just received the Magnet School of America's 2024 Top School of Excellence award! Large living room with a fireplace opens to the dining room and walks out to a large private deck. Upper level features the primary bedroom and walk through ensuite with walk in closet and a secondary bedroom. This property is a must see!

18. 2024-03-18
    status Pending 467-char remark

    Show marketing remark (467 chars)

    Location, location, this spacious multi-level condo provides maintenance free living. In school district #196, Glacier Hills Elementary; which has just received the Magnet School of America's 2024 Top School of Excellence award! Large living room with a fireplace opens to the dining room and walks out to a large private deck. Upper level features the primary bedroom and walk through ensuite with walk in closet and a secondary bedroom. This property is a must see!

19. 2024-03-11
    historical Contingent - Inspection 467-char remark

    Show marketing remark (467 chars)

    Location, location, this spacious multi-level condo provides maintenance free living. In school district #196, Glacier Hills Elementary; which has just received the Magnet School of America's 2024 Top School of Excellence award! Large living room with a fireplace opens to the dining room and walks out to a large private deck. Upper level features the primary bedroom and walk through ensuite with walk in closet and a secondary bedroom. This property is a must see!

20. 2024-02-22
    price $265,000 467-char remark

    Show marketing remark (467 chars)

    Location, location, this spacious multi-level condo provides maintenance free living. In school district #196, Glacier Hills Elementary; which has just received the Magnet School of America's 2024 Top School of Excellence award! Large living room with a fireplace opens to the dining room and walks out to a large private deck. Upper level features the primary bedroom and walk through ensuite with walk in closet and a secondary bedroom. This property is a must see!

21. 2024-02-04
    listed $270,000 Active 467-char remark

    Show marketing remark (467 chars)

    Location, location, this spacious multi-level condo provides maintenance free living. In school district #196, Glacier Hills Elementary; which has just received the Magnet School of America's 2024 Top School of Excellence award! Large living room with a fireplace opens to the dining room and walks out to a large private deck. Upper level features the primary bedroom and walk through ensuite with walk in closet and a secondary bedroom. This property is a must see!

22. 2014-10-29
    soldstatus $150,000
23. 2014-10-24
    soldstatus $150,000 Sold 253-char remark

    Show marketing remark (253 chars)

    Impressive 2 bedroom, 2 bath townhome w/wooded, private backyard! Huge master bedroom w/walk-in closet and walk-through bath, vaults, fireplace, maintenance-free deck, six panel doors, oak railings, great location near shopping, restaurants and parks+++

24. 2014-10-24
    soldstatus $150,000

    Show marketing remark (253 chars)

    Impressive 2 bedroom, 2 bath townhome w/wooded, private backyard! Huge master bedroom w/walk-in closet and walk-through bath, vaults, fireplace, maintenance-free deck, six panel doors, oak railings, great location near shopping, restaurants and parks+++

25. 2014-10-24
    soldstatus $150,000

    Show marketing remark (253 chars)

    Impressive 2 bedroom, 2 bath townhome w/wooded, private backyard! Huge master bedroom w/walk-in closet and walk-through bath, vaults, fireplace, maintenance-free deck, six panel doors, oak railings, great location near shopping, restaurants and parks+++

26. 2014-09-25
    status Pending 253-char remark

    Show marketing remark (253 chars)

    Impressive 2 bedroom, 2 bath townhome w/wooded, private backyard! Huge master bedroom w/walk-in closet and walk-through bath, vaults, fireplace, maintenance-free deck, six panel doors, oak railings, great location near shopping, restaurants and parks+++

27. 2014-09-21
    historical Contingent - Inspection 253-char remark

    Show marketing remark (253 chars)

    Impressive 2 bedroom, 2 bath townhome w/wooded, private backyard! Huge master bedroom w/walk-in closet and walk-through bath, vaults, fireplace, maintenance-free deck, six panel doors, oak railings, great location near shopping, restaurants and parks+++

28. 2014-09-20
    price $149,900 253-char remark

    Show marketing remark (253 chars)

    Impressive 2 bedroom, 2 bath townhome w/wooded, private backyard! Huge master bedroom w/walk-in closet and walk-through bath, vaults, fireplace, maintenance-free deck, six panel doors, oak railings, great location near shopping, restaurants and parks+++

29. 2014-09-19
    listed $139,900 Active 253-char remark

    Show marketing remark (253 chars)

    Impressive 2 bedroom, 2 bath townhome w/wooded, private backyard! Huge master bedroom w/walk-in closet and walk-through bath, vaults, fireplace, maintenance-free deck, six panel doors, oak railings, great location near shopping, restaurants and parks+++

30. 2014-09-19
    listed $149,900

    Show marketing remark (253 chars)

    Impressive 2 bedroom, 2 bath townhome w/wooded, private backyard! Huge master bedroom w/walk-in closet and walk-through bath, vaults, fireplace, maintenance-free deck, six panel doors, oak railings, great location near shopping, restaurants and parks+++

31. 2014-09-19
    listed $149,900

    Show marketing remark (253 chars)

    Impressive 2 bedroom, 2 bath townhome w/wooded, private backyard! Huge master bedroom w/walk-in closet and walk-through bath, vaults, fireplace, maintenance-free deck, six panel doors, oak railings, great location near shopping, restaurants and parks+++

32. 1990-04-01
    soldstatus $83,000

ⓘ 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: $2,526 · $210/mo
• Projected year-2 tax: $2,526 · $210/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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,465
• − Mortgage interest: −$9,243
• − Property taxes: −$2,526
• − Insurance: −$825
• − Repairs & maintenance: −$1,957
• − Management: −$1,957
• − HOA: −$4,380
• − Depreciation: −$4,800
• Taxable loss: −$1,223
• Est. tax savings @ 24.0%: +$294
• After-tax cash flow: $1,506/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

+110.8% since first listed

18 events — show timeline

• 2026-05-12 Listed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-10 Sold (Public Records) $275,000 Public Records
• 2024-04-05 Sold (MLS) $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-22 Price Changed $265,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-04 Listed $270,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-29 Sold (Public Records) $150,000 Public Records
• 2014-10-24 Sold (MLS) $150,000 LSAR
• 2014-10-24 Sold (MLS) $150,000 RASM
• 2014-10-24 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-20 Price Changed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-19 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-19 Listed $149,900 LSAR
• 2014-09-19 Listed $149,900 RASM
• 1990-04-01 Sold (Public Records) $83,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,526 · -0.4% YoY. Source: county tax records.