334 Lakeview Ave · Long Lake, MN 55356

$217,500

2 bd · 1.5 ba · 1,255 sqft · Townhouse public records · 62 Days on market

Built 1978 4,356 sqft lot $425/mo HOA · 15% of rent ↓ 49% 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 +23.6/30.0
• 1% rule +8.3/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2-story townhome offers a versatile layout with spacious living across three levels. The main floor welcomes you with a bright living room featuring a cozy fireplace, a galley kitchen, and a convenient half bathroom. Upstairs, you’ll find two bedrooms including a spacious owner's suite and a full bathroom. The lower level expands your living options with a huge bedroom that could serve as a guest suite, office, or additional living space. A well-designed home that combines comfort, functionality, and flexibility!

Key facts

• $425 HOA
• Garage
• Built 1978

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $218k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $218k).
• Recommended offer: $204k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#157 in MN, #3,439 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, housing A+; Watch: cost of living C-, amenities F, health & safety F.
• Orono Public School District (rural): math 65% / reading 73% proficiency, ranked #9 of 301 in MN (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 5% free/reduced lunch — higher-income household profile.
• Market conditions: 56 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,651 units permitted in Hennepin County in 2024 (2,443 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 $7k of value loss. Plan a longer hold.
• Hennepin County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $168k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $204,450 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 1.33% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.11%
• DSCR: 1.36
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-8,763
• Equity at exit: $32,430

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $27,215
• Equity at exit: $18,805

Cash invested: $60,900 (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 55356

• Home prices YoY: -32.6%
• Active inventory: 56
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,887 medium
• Mortgage (P&I): −$1,141
• Tax from tax record: −$213 /mo · $2,559/yr
• Insurance: −$91
• HOA: −$425
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $412

Break-even live

Break-even rent $2,366

Max offer price $217,500

Occupancy floor 81%

Sensitivity live

Price	-10% $535	-5% $473	+0% $412	+5% $350	+10% $288
Rent	-10% $183	-5% $298	+0% $412	+5% $526	+10% $640
Rate	-1.0pp $521	-0.5pp $467	base $412	+0.5pp $355	+1.0pp $298

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: $54,375
• Closing costs: $6,525
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 Virginia Ave Long Lake, MN	1.0–2.0	1.0–2.0	958	$3,015	$3.15	0d	22	0.28mi
58 Inglewood St Unit NA Long Lake, MN	2.0	1.0	1002	$2,495	$2.49	0d	1	0.42mi
2434 N Blossom Cir Unit n/a Orono, MN	3.0	2.5	1825	$3,100	$1.70	6d	1	0.78mi

HOA detail

• Monthly dues: $425 · $5,100/yr

Listing history 34 events

1. 2026-05-20
   status Pending 538-char remark

   Show marketing remark (538 chars)

   This charming 2-story townhome offers a versatile layout with spacious living across three levels. The main floor welcomes you with a bright living room featuring a cozy fireplace, a galley kitchen, and a convenient half bathroom. Upstairs, you’ll find two bedrooms including a spacious owner's suite and a full bathroom. The lower level expands your living options with a huge bedroom that could serve as a guest suite, office, or additional living space. A well-designed home that combines comfort, functionality, and flexibility!

2. 2026-05-11
   historical Contingent - Inspection 538-char remark

   Show marketing remark (538 chars)

   This charming 2-story townhome offers a versatile layout with spacious living across three levels. The main floor welcomes you with a bright living room featuring a cozy fireplace, a galley kitchen, and a convenient half bathroom. Upstairs, you’ll find two bedrooms including a spacious owner's suite and a full bathroom. The lower level expands your living options with a huge bedroom that could serve as a guest suite, office, or additional living space. A well-designed home that combines comfort, functionality, and flexibility!

3. 2026-05-07
   price $217,500 538-char remark

   Show marketing remark (538 chars)

   This charming 2-story townhome offers a versatile layout with spacious living across three levels. The main floor welcomes you with a bright living room featuring a cozy fireplace, a galley kitchen, and a convenient half bathroom. Upstairs, you’ll find two bedrooms including a spacious owner's suite and a full bathroom. The lower level expands your living options with a huge bedroom that could serve as a guest suite, office, or additional living space. A well-designed home that combines comfort, functionality, and flexibility!

4. 2026-05-01
   price $222,500 538-char remark

   Show marketing remark (538 chars)

   This charming 2-story townhome offers a versatile layout with spacious living across three levels. The main floor welcomes you with a bright living room featuring a cozy fireplace, a galley kitchen, and a convenient half bathroom. Upstairs, you’ll find two bedrooms including a spacious owner's suite and a full bathroom. The lower level expands your living options with a huge bedroom that could serve as a guest suite, office, or additional living space. A well-designed home that combines comfort, functionality, and flexibility!

5. 2026-04-23
   price $227,400 538-char remark

   Show marketing remark (538 chars)

   This charming 2-story townhome offers a versatile layout with spacious living across three levels. The main floor welcomes you with a bright living room featuring a cozy fireplace, a galley kitchen, and a convenient half bathroom. Upstairs, you’ll find two bedrooms including a spacious owner's suite and a full bathroom. The lower level expands your living options with a huge bedroom that could serve as a guest suite, office, or additional living space. A well-designed home that combines comfort, functionality, and flexibility!

6. 2026-04-16
   price $229,900 538-char remark

   Show marketing remark (538 chars)

   This charming 2-story townhome offers a versatile layout with spacious living across three levels. The main floor welcomes you with a bright living room featuring a cozy fireplace, a galley kitchen, and a convenient half bathroom. Upstairs, you’ll find two bedrooms including a spacious owner's suite and a full bathroom. The lower level expands your living options with a huge bedroom that could serve as a guest suite, office, or additional living space. A well-designed home that combines comfort, functionality, and flexibility!

7. 2026-04-10
   price $234,900 538-char remark

   Show marketing remark (538 chars)

   This charming 2-story townhome offers a versatile layout with spacious living across three levels. The main floor welcomes you with a bright living room featuring a cozy fireplace, a galley kitchen, and a convenient half bathroom. Upstairs, you’ll find two bedrooms including a spacious owner's suite and a full bathroom. The lower level expands your living options with a huge bedroom that could serve as a guest suite, office, or additional living space. A well-designed home that combines comfort, functionality, and flexibility!

8. 2026-03-26
   price $239,400 538-char remark

   Show marketing remark (538 chars)

   This charming 2-story townhome offers a versatile layout with spacious living across three levels. The main floor welcomes you with a bright living room featuring a cozy fireplace, a galley kitchen, and a convenient half bathroom. Upstairs, you’ll find two bedrooms including a spacious owner's suite and a full bathroom. The lower level expands your living options with a huge bedroom that could serve as a guest suite, office, or additional living space. A well-designed home that combines comfort, functionality, and flexibility!

9. 2026-03-18
   listed $242,400 Active 538-char remark

   Show marketing remark (538 chars)

   This charming 2-story townhome offers a versatile layout with spacious living across three levels. The main floor welcomes you with a bright living room featuring a cozy fireplace, a galley kitchen, and a convenient half bathroom. Upstairs, you’ll find two bedrooms including a spacious owner's suite and a full bathroom. The lower level expands your living options with a huge bedroom that could serve as a guest suite, office, or additional living space. A well-designed home that combines comfort, functionality, and flexibility!

10. 2026-03-18
    historical

    Show marketing remark (538 chars)

    This charming 2-story townhome offers a versatile layout with spacious living across three levels. The main floor welcomes you with a bright living room featuring a cozy fireplace, a galley kitchen, and a convenient half bathroom. Upstairs, you’ll find two bedrooms including a spacious owner's suite and a full bathroom. The lower level expands your living options with a huge bedroom that could serve as a guest suite, office, or additional living space. A well-designed home that combines comfort, functionality, and flexibility!

11. 2026-03-05
    price $244,900
12. 2026-03-04
    status Active
13. 2026-02-20
    status Pending
14. 2026-02-04
    historical Contingent - Inspection
15. 2026-01-30
    price $247,400
16. 2026-01-09
    historical
17. 2026-01-08
    listed $249,900 Active
18. 2025-12-18
    price $241,000
19. 2025-12-10
    price $242,500
20. 2025-11-19
    price $244,000
21. 2025-11-12
    price $245,500
22. 2025-11-05
    price $247,000
23. 2025-10-29
    price $248,500
24. 2025-10-23
    price $249,900
25. 2025-10-15
    price $254,900
26. 2025-10-09
    price $264,900
27. 2025-10-02
    price $274,900
28. 2025-10-01
    soldstatus $168,000
29. 2025-09-19
    listed $279,900 Active
30. 2005-11-23
    soldstatus $179,000
31. 2002-09-09
    soldstatus $151,410
32. 2001-08-01
    soldstatus $141,500
33. 1999-09-07
    soldstatus $98,900
34. 1998-07-07
    soldstatus $428,000

ⓘ 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: $2,559 · $213/mo
• Projected year-2 tax: $2,559 · $213/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $34,649
• − Mortgage interest: −$12,183
• − Property taxes: −$2,559
• − Insurance: −$1,088
• − Repairs & maintenance: −$2,772
• − Management: −$2,772
• − HOA: −$5,100
• − Depreciation: −$6,327
• Taxable income: $1,848
• Est. tax owed @ 24.0%: −$443
• After-tax cash flow: $4,495/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: Orono Public School District
• NCES district ID: 2725080
• Math proficiency: 65% ▼ -11.00%
• Reading proficiency: 73% ▼ -6.00%
• Median HH income: $93,850
• Composite: 62.7/100
• National rank: #673
• State rank: #9 of 301 in MN

Livability — Long Lake

• Score: 76/100
• State rank: #157
• US rank: #3439

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: Long Lake, MN
• County: Hennepin County · 1,150,272 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 5,696
• Household income: $156,622
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 129.0

Population outlook (Hennepin County) Hauer SSP2

• Today (2025): 1,405,227 people
• By 2030: 1,492,650 · +6.2%
• By 2040: 1,660,157 · +18.1%
• By 2050: 1,823,498 · +29.8%
• By 2075: 2,221,283 · +58.1%
• By 2100: 2,509,976 · +78.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 4% Asian 3% Hispanic / Latino 2% Black 1%
• Common ancestry: Portuguese 15% Lithuanian 4% Romanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Hennepin

• 2024 margin: Solid D (+42.6) · D 70.2% · R 27.5% · Other 2.3%
• 2008→2024 swing: +14.0pp toward D · 2008: 28.6pp · 2024: 42.6pp
• All cycles: 2024: D+42.6 2020: D+43.2 2016: D+35.3 2012: D+27.1 2008: D+28.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -129.06%
• Current HPI: 266.414
• 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

-49.2% since first listed

34 events — show timeline

• 2026-05-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Price Changed $217,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $222,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $227,400 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $234,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $239,400 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-18 Listed $242,400 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $244,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-04 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-30 Price Changed $247,400 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-08 Listed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-18 Price Changed $241,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-10 Price Changed $242,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-19 Price Changed $244,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-12 Price Changed $245,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-05 Price Changed $247,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-29 Price Changed $248,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-23 Price Changed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-15 Price Changed $254,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-09 Price Changed $264,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-02 Price Changed $274,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-01 Sold (Public Records) $168,000 Public Records
• 2025-09-19 Listed $279,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-11-23 Sold (Public Records) $179,000 Public Records
• 2002-09-09 Sold (Public Records) $151,410 Public Records
• 2001-08-01 Sold (Public Records) $141,500 Public Records
• 1999-09-07 Sold (Public Records) $98,900 Public Records
• 1998-07-07 Sold (Public Records) $428,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $2,559 · -7.3% YoY. Source: county tax records.