17150 Eastwood Ave · Lakeville, MN 55024

$265,000

2 bd · 2.0 ba · 1,518 sqft · Townhouse · 11 Days on market

Built 2005 Good condition Est $281k · 6% under $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 +10.7/30.0
• ARV discount +10.0/15.0
• 1% rule +5.0/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This beautifully maintained end-unit townhome lives like a single-family home, featuring an expansive side yard that creates a private outdoor retreat. Inside, you’ll find soaring vaulted ceilings, fresh paint throughout, brand-new carpet, and an exceptionally clean, move-in-ready feel. The open and inviting layout features a versatile upper-level loft, two well-appointed bedrooms including a spacious primary suite with a walk-through bath, jetted tub, separate shower, and large walk-in closet. Enjoy relaxing or entertaining on the private patio surrounded by green space. Additional highlights include an oversized two-car attached garage, A+ storage, and additional parking spaces loca

Key facts

• $380 HOA
• 2 garage spots
• Built 2005

Property features AI

Finance

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

Exterior

• Parking: Attached insulated garage (2 cars) — 22x24
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential attached property; Two levels; No external stairs; Entry level: Main; Above-grade finished area: 1,518 square feet
• Construction: Concrete construction; Slab foundation; Foundation area: 1,063
• Exterior features: Patio; Stone and vinyl exterior; Corner lot; In-ground sprinkler

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms (upper level)
• Bathrooms: 1 full bathroom with double sink, walk-in shower stall (upper level); 1 half bathroom on main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Vaulted ceilings; Ceiling fan(s); Primary bedroom walk-in closet; Informal dining area
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (0.3% below list).
• Recommended offer: $247k (6.8% below list) — sets the bar for cash-flow.
• Cap rate 5.7% 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: schools A+, crime A+, employment 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.
• Market conditions: 325 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y ago; this cycle's ask is 13666% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $246,886 (6.8% 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: 1.00% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.02%
• DSCR: 0.91
• GRM: 8.4

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	0.41mi	2/2.0	1,462 (-4%)	22mo	$269,900	$185	56

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: -19.5%
• Equity multiple: 0.32×
• Total profit: $-50,641
• Equity at exit: $39,512

10-year hold

• IRR: -12.0%
• Equity multiple: 0.28×
• Total profit: $-53,253
• Equity at exit: $22,912

Cash invested: $74,200 (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 55024

• Home prices YoY: -31.2%
• Active inventory: 325
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,641 high
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$380
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $-125

Break-even live

Break-even rent $2,799

Max offer price $246,886

Occupancy floor 100%

Sensitivity live

Price	-10% $58	-5% $-34	+0% $-125	+5% $-217	+10% $-308
Rent	-10% $-334	-5% $-229	+0% $-125	+5% $-21	+10% $83
Rate	-1.0pp $8	-0.5pp $-58	base $-125	+0.5pp $-194	+1.0pp $-264

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: $66,250
• Closing costs: $7,950
• 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	10d	1	0.13mi
17074 Dysart Pl Unit 17074 Lakeville, MN	3.0	2.5	1750	$2,800	$1.60	10d	1	0.16mi
17066 Dysart Pl Unit 17066 Lakeville, MN	3.0	2.5	1894	$2,895	$1.53	19d	1	0.18mi
17040 Dysart Pl Unit 17040 Lakeville, MN	3.0	2.5	1700	$2,700	$1.59	2d	1	0.20mi
5076 161st St W Lakeville, MN	1.0–3.0	1.0–2.0	1186	$2,318	$1.95	2d	16	1.07mi
5017 161st St W Unit 5017 Lakeville, MN	2.0	2.5	1895	$3,350	$1.77	15d	1	1.09mi
5181 161st St W Lakeville, MN	1.0–3.0	1.0–2.0	1044	$1,973	$1.89	2d	5	1.12mi
16106 Duvane Way Lakeville, MN	3.0	3.0	1564	$3,395	$2.17	22d	1	1.14mi
18388 English Ave Farmington, MN	2.0	2.0	1544	$1,999	$1.29	44d	1	1.22mi
15899 Elmhurst Ln Saint Paul, MN	3.0	1.0–2.0	1031	$2,268	$2.20	2d	14	1.29mi

HOA detail

• Monthly dues: $380 · $4,560/yr

Listing history 14 events

1. 2026-06-07
   statusdays on market $265,000 Pending 11 DOM
2. 2026-06-04
   days on market $265,000 Contingent - Inspection 9 DOM
3. 2026-06-03
   days on market $265,000 Contingent - Inspection 8 DOM
4. 2026-06-02
   days on market $265,000 Contingent - Inspection 7 DOM
5. 2026-06-01
   days on market $265,000 Contingent - Inspection 6 DOM
6. 2026-06-01
   status $265,000 Contingent - Inspection 5 DOM
7. 2026-05-31
   days on market $265,000 Active 5 DOM
8. 2026-05-26
   historical $265,000
9. 2023-11-27
   historical $1,875
10. 2023-11-17
    price $1,875
11. 2023-11-12
    price $1,895
12. 2023-10-28
    listed $1,925
13. 2009-12-31
    historical
14. 2009-07-25
    listed $169,900

ⓘ 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 ≥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: $31,689
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,535
• − Management: −$2,535
• − HOA: −$4,560
• − Depreciation: −$7,709
• Taxable loss: −$5,795
• Est. tax savings @ 24.0%: +$1,391
• After-tax cash flow: $-111/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 · 6 photos

Good 80/100 Cosmetic rehab

This move-in-ready townhouse features an open and inviting layout with fresh paint and hardwood floors, making it an excellent investment opportunity.

Value-add opportunities

• Both Paint the exterior siding — Fresh paint can enhance curb appeal and property value.
• Resale Replace the kitchen faucet — A new faucet can improve the kitchen's functionality and aesthetics.
• Both Install smart home devices — Smart home devices can increase convenience and add value for both resale and rental purposes.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Resale Replace the kitchen faucet — A new faucet can improve the kitchen's functionality and aesthetics. ↑
• Both Install smart home devices — Smart home devices can increase convenience and add value for both resale and rental purposes. ↑

ⓘ 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: 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

+56.0% since first listed

7 events — show timeline

• 2026-05-26 Coming Soon $265,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-11-27 Rental Removed $1,875 RENT.
• 2023-11-17 Price Changed $1,875 RENT.
• 2023-11-12 Price Changed $1,895 RENT.
• 2023-10-28 Listed for Rent $1,925 RENT.
• 2009-12-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-25 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid