3421 Kent St #603 · Shoreview, MN 55126

$84,900

1 bd · 1.0 ba · 637 sqft · Condo public records · 239 Days on market

Built 1972 $459/mo HOA · 33% of rent ↓ 23% since listing

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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 +15.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +4.8/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 3421 Kent St #603 - a move-in ready 1 bed/1 bath condo on the top floor (3rd floor) of this desirable Lake Place Homes community. This updated unit features brand new stainless steel appliances throughout the kitchen including refrigerator, glass-top stove, hood/fan, dishwasher, and large single sink with garbage disposal. Fresh new carpet and pad have been installed throughout, and the entire unit has been freshly painted. The kitchen flows seamlessly into the dining and living areas, creating an open layout perfect for entertaining. The oversized glass patio door floods the space with natural light and leads to a large balcony with room for outdoor furniture. The bedroom is spacious for your bedroom set and the full bathroom features a new vanity with storage, medicine cabinet, tile floor and tiled bath surround. Amazing amenities include heated underground assigned parking (#94), community room with pool access, outdoor pool, exercise room, sauna, and best of all - private deeded access to Lake Owasso beach just one block away! Additional storage room across the hall and same-floor laundry facilities add convenience. Nestled among mature trees, this peaceful community offers the perfect blend of lakeside living and modern comfort. See it today!

Key facts

• $459 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $34 ($405/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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 $587 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $26k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.

Recommended offer $74,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.65% ✓
• Cap rate: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• GRM: 5.1

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: -11.8%
• Equity multiple: 0.57×
• Total profit: $-10,340
• Equity at exit: $12,659

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-998
• Equity at exit: $7,341

Cash invested: $23,772 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,397 high
• Mortgage (P&I): −$445
• Tax from tax record: −$130 /mo · $1,564/yr
• Insurance: −$35
• HOA: −$459
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $34

Break-even live

Break-even rent $1,354

Max offer price $84,900

Occupancy floor 93%

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: $21,225
• Closing costs: $2,547
• 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	43d	1	0.03mi
577 Harriet Ave Shoreview, MN	1.0–2.0	1.0–2.0	950	$1,275	$1.34	1d	31	0.14mi
3529 Owasso St Shoreview, MN	1.0	1.0	625	$1,550	$2.48	43d	1	0.24mi
3500 Rice St Saint Paul, MN	2.0	1.0–2.0	911	$2,318	$2.54	1d	19	0.95mi
1005 Gramsie Rd Saint Paul, MN	1.0–3.0	1.0–3.0	1092	$1,716	$1.57	1d	8	1.43mi

HOA detail condo

• Monthly dues: $459 · $5,508/yr
• Likely covers: trashpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-07
   statusdays on market $84,900 Pending 239 DOM
2. 2026-06-04
   statusdays on market $84,900 Contingent - Subject to Statutory Rescission 238 DOM
3. 2026-06-03
   days on market $84,900 Active 237 DOM
4. 2026-06-02
   days on market $84,900 Active 236 DOM
5. 2026-06-01
   days on market $84,900 Active 235 DOM
6. 2026-05-31
   days on market $84,900 Active 234 DOM
7. 2026-04-10
   price $84,900 1278-char remark

   Show marketing remark (1278 chars)

   Welcome to 3421 Kent St #603 - a move-in ready 1 bed/1 bath condo on the top floor (3rd floor) of this desirable Lake Place Homes community. This updated unit features brand new stainless steel appliances throughout the kitchen including refrigerator, glass-top stove, hood/fan, dishwasher, and large single sink with garbage disposal. Fresh new carpet and pad have been installed throughout, and the entire unit has been freshly painted. The kitchen flows seamlessly into the dining and living areas, creating an open layout perfect for entertaining. The oversized glass patio door floods the space with natural light and leads to a large balcony with room for outdoor furniture. The bedroom is spacious for your bedroom set and the full bathroom features a new vanity with storage, medicine cabinet, tile floor and tiled bath surround. Amazing amenities include heated underground assigned parking (#94), community room with pool access, outdoor pool, exercise room, sauna, and best of all - private deeded access to Lake Owasso beach just one block away! Additional storage room across the hall and same-floor laundry facilities add convenience. Nestled among mature trees, this peaceful community offers the perfect blend of lakeside living and modern comfort. See it today!

8. 2026-03-13
   price $89,900 1278-char remark

   Show marketing remark (1278 chars)

   Welcome to 3421 Kent St #603 - a move-in ready 1 bed/1 bath condo on the top floor (3rd floor) of this desirable Lake Place Homes community. This updated unit features brand new stainless steel appliances throughout the kitchen including refrigerator, glass-top stove, hood/fan, dishwasher, and large single sink with garbage disposal. Fresh new carpet and pad have been installed throughout, and the entire unit has been freshly painted. The kitchen flows seamlessly into the dining and living areas, creating an open layout perfect for entertaining. The oversized glass patio door floods the space with natural light and leads to a large balcony with room for outdoor furniture. The bedroom is spacious for your bedroom set and the full bathroom features a new vanity with storage, medicine cabinet, tile floor and tiled bath surround. Amazing amenities include heated underground assigned parking (#94), community room with pool access, outdoor pool, exercise room, sauna, and best of all - private deeded access to Lake Owasso beach just one block away! Additional storage room across the hall and same-floor laundry facilities add convenience. Nestled among mature trees, this peaceful community offers the perfect blend of lakeside living and modern comfort. See it today!

9. 2025-12-05
   status Active 1278-char remark

   Show marketing remark (1278 chars)

   Welcome to 3421 Kent St #603 - a move-in ready 1 bed/1 bath condo on the top floor (3rd floor) of this desirable Lake Place Homes community. This updated unit features brand new stainless steel appliances throughout the kitchen including refrigerator, glass-top stove, hood/fan, dishwasher, and large single sink with garbage disposal. Fresh new carpet and pad have been installed throughout, and the entire unit has been freshly painted. The kitchen flows seamlessly into the dining and living areas, creating an open layout perfect for entertaining. The oversized glass patio door floods the space with natural light and leads to a large balcony with room for outdoor furniture. The bedroom is spacious for your bedroom set and the full bathroom features a new vanity with storage, medicine cabinet, tile floor and tiled bath surround. Amazing amenities include heated underground assigned parking (#94), community room with pool access, outdoor pool, exercise room, sauna, and best of all - private deeded access to Lake Owasso beach just one block away! Additional storage room across the hall and same-floor laundry facilities add convenience. Nestled among mature trees, this peaceful community offers the perfect blend of lakeside living and modern comfort. See it today!

10. 2025-12-05
    price $94,000 1278-char remark

    Show marketing remark (1278 chars)

    Welcome to 3421 Kent St #603 - a move-in ready 1 bed/1 bath condo on the top floor (3rd floor) of this desirable Lake Place Homes community. This updated unit features brand new stainless steel appliances throughout the kitchen including refrigerator, glass-top stove, hood/fan, dishwasher, and large single sink with garbage disposal. Fresh new carpet and pad have been installed throughout, and the entire unit has been freshly painted. The kitchen flows seamlessly into the dining and living areas, creating an open layout perfect for entertaining. The oversized glass patio door floods the space with natural light and leads to a large balcony with room for outdoor furniture. The bedroom is spacious for your bedroom set and the full bathroom features a new vanity with storage, medicine cabinet, tile floor and tiled bath surround. Amazing amenities include heated underground assigned parking (#94), community room with pool access, outdoor pool, exercise room, sauna, and best of all - private deeded access to Lake Owasso beach just one block away! Additional storage room across the hall and same-floor laundry facilities add convenience. Nestled among mature trees, this peaceful community offers the perfect blend of lakeside living and modern comfort. See it today!

11. 2025-11-11
    price $104,000 1278-char remark

    Show marketing remark (1278 chars)

    Welcome to 3421 Kent St #603 - a move-in ready 1 bed/1 bath condo on the top floor (3rd floor) of this desirable Lake Place Homes community. This updated unit features brand new stainless steel appliances throughout the kitchen including refrigerator, glass-top stove, hood/fan, dishwasher, and large single sink with garbage disposal. Fresh new carpet and pad have been installed throughout, and the entire unit has been freshly painted. The kitchen flows seamlessly into the dining and living areas, creating an open layout perfect for entertaining. The oversized glass patio door floods the space with natural light and leads to a large balcony with room for outdoor furniture. The bedroom is spacious for your bedroom set and the full bathroom features a new vanity with storage, medicine cabinet, tile floor and tiled bath surround. Amazing amenities include heated underground assigned parking (#94), community room with pool access, outdoor pool, exercise room, sauna, and best of all - private deeded access to Lake Owasso beach just one block away! Additional storage room across the hall and same-floor laundry facilities add convenience. Nestled among mature trees, this peaceful community offers the perfect blend of lakeside living and modern comfort. See it today!

12. 2025-10-12
    price $107,000 1278-char remark

    Show marketing remark (1278 chars)

    Welcome to 3421 Kent St #603 - a move-in ready 1 bed/1 bath condo on the top floor (3rd floor) of this desirable Lake Place Homes community. This updated unit features brand new stainless steel appliances throughout the kitchen including refrigerator, glass-top stove, hood/fan, dishwasher, and large single sink with garbage disposal. Fresh new carpet and pad have been installed throughout, and the entire unit has been freshly painted. The kitchen flows seamlessly into the dining and living areas, creating an open layout perfect for entertaining. The oversized glass patio door floods the space with natural light and leads to a large balcony with room for outdoor furniture. The bedroom is spacious for your bedroom set and the full bathroom features a new vanity with storage, medicine cabinet, tile floor and tiled bath surround. Amazing amenities include heated underground assigned parking (#94), community room with pool access, outdoor pool, exercise room, sauna, and best of all - private deeded access to Lake Owasso beach just one block away! Additional storage room across the hall and same-floor laundry facilities add convenience. Nestled among mature trees, this peaceful community offers the perfect blend of lakeside living and modern comfort. See it today!

13. 2025-09-24
    status Active 1278-char remark

    Show marketing remark (1278 chars)

    Welcome to 3421 Kent St #603 - a move-in ready 1 bed/1 bath condo on the top floor (3rd floor) of this desirable Lake Place Homes community. This updated unit features brand new stainless steel appliances throughout the kitchen including refrigerator, glass-top stove, hood/fan, dishwasher, and large single sink with garbage disposal. Fresh new carpet and pad have been installed throughout, and the entire unit has been freshly painted. The kitchen flows seamlessly into the dining and living areas, creating an open layout perfect for entertaining. The oversized glass patio door floods the space with natural light and leads to a large balcony with room for outdoor furniture. The bedroom is spacious for your bedroom set and the full bathroom features a new vanity with storage, medicine cabinet, tile floor and tiled bath surround. Amazing amenities include heated underground assigned parking (#94), community room with pool access, outdoor pool, exercise room, sauna, and best of all - private deeded access to Lake Owasso beach just one block away! Additional storage room across the hall and same-floor laundry facilities add convenience. Nestled among mature trees, this peaceful community offers the perfect blend of lakeside living and modern comfort. See it today!

14. 2025-09-05
    listed $110,900 Active 1278-char remark

    Show marketing remark (1278 chars)

    Welcome to 3421 Kent St #603 - a move-in ready 1 bed/1 bath condo on the top floor (3rd floor) of this desirable Lake Place Homes community. This updated unit features brand new stainless steel appliances throughout the kitchen including refrigerator, glass-top stove, hood/fan, dishwasher, and large single sink with garbage disposal. Fresh new carpet and pad have been installed throughout, and the entire unit has been freshly painted. The kitchen flows seamlessly into the dining and living areas, creating an open layout perfect for entertaining. The oversized glass patio door floods the space with natural light and leads to a large balcony with room for outdoor furniture. The bedroom is spacious for your bedroom set and the full bathroom features a new vanity with storage, medicine cabinet, tile floor and tiled bath surround. Amazing amenities include heated underground assigned parking (#94), community room with pool access, outdoor pool, exercise room, sauna, and best of all - private deeded access to Lake Owasso beach just one block away! Additional storage room across the hall and same-floor laundry facilities add convenience. Nestled among mature trees, this peaceful community offers the perfect blend of lakeside living and modern comfort. See it today!

15. 2025-08-29
    historical $110,900 1278-char remark

    Show marketing remark (1278 chars)

    Welcome to 3421 Kent St #603 - a move-in ready 1 bed/1 bath condo on the top floor (3rd floor) of this desirable Lake Place Homes community. This updated unit features brand new stainless steel appliances throughout the kitchen including refrigerator, glass-top stove, hood/fan, dishwasher, and large single sink with garbage disposal. Fresh new carpet and pad have been installed throughout, and the entire unit has been freshly painted. The kitchen flows seamlessly into the dining and living areas, creating an open layout perfect for entertaining. The oversized glass patio door floods the space with natural light and leads to a large balcony with room for outdoor furniture. The bedroom is spacious for your bedroom set and the full bathroom features a new vanity with storage, medicine cabinet, tile floor and tiled bath surround. Amazing amenities include heated underground assigned parking (#94), community room with pool access, outdoor pool, exercise room, sauna, and best of all - private deeded access to Lake Owasso beach just one block away! Additional storage room across the hall and same-floor laundry facilities add convenience. Nestled among mature trees, this peaceful community offers the perfect blend of lakeside living and modern comfort. See it today!

ⓘ 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: $16,765
• − Mortgage interest: −$4,756
• − Property taxes: −$1,564
• − Insurance: −$424
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − HOA: −$5,508
• − Depreciation: −$2,470
• Taxable loss: −$639
• Est. tax savings @ 24.0%: +$153
• After-tax cash flow: $559/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

-23.4% since first listed

9 events — show timeline

• 2026-04-10 Price Changed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-13 Price Changed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-05 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-05 Price Changed $94,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-11 Price Changed $104,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-12 Price Changed $107,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-24 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-05 Listed $110,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-29 Coming Soon $110,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

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