4680 Tower St SE #112 · Prior Lake, MN 55372

$100,000

2 bd · 1.0 ba · 667 sqft · Condo public records · 97 Days on market

Built 1988 $406/mo HOA · 26% 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 +23.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +5.3/10.0
• Livability +3.6/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to easy, maintenance-free living in this thoughtfully designed 1-bedroom, 1-bathroom condo offering comfort, convenience, and fantastic community amenities. This well-maintained unit features an open and functional layout with wide doorways and easy-flow living spaces designed for everyday comfort. The bright living area is filled with natural light and seamlessly connects to the dining space and kitchen, creating a welcoming setting for relaxing or entertaining. The spacious bedroom offers generous closet space and convenient access to the bath. Enjoy amenities including a heated outdoor pool, locker rooms, sauna, fully equipped fitness center, and inviting community room—perfect for gatherings, events, or meeting neighbors. Additional conveniences include secure entry, elevator access, and dedicated parking. Located close to shopping, dining, and major roadways, this condo offers the ideal blend of comfort and convenience. Move-in ready and waiting for you—schedule your showing today!

Key facts

• $406 HOA
• Garage
• Pool

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.3% in Prior Lake — 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 71/100 on livability (#308 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• Prior Lake-Savage Area Schools (suburban): math 56% / reading 59% proficiency, ranked #32 of 301 in MN (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.2%/yr); 249 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 699 units permitted in Scott County in 2024 (84 in 5+ unit buildings).
• This rent is only 13% of the median local income ($145k/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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Scott County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $87k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $91,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
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 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: 1.55% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.65%
• DSCR: 1.34
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.16% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-5,890
• Equity at exit: $14,910

10-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $5,258
• Equity at exit: $8,646

Cash invested: $28,000 (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 55372

• Rents YoY: 2.2%
• Active inventory: 249
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,545 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$70 /mo · $844/yr
• Insurance: −$42
• HOA: −$406
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $179

Break-even live

Break-even rent $1,320

Max offer price $100,000

Occupancy floor 83%

Sensitivity live

Price	-10% $235	-5% $207	+0% $179	+5% $150	+10% $122
Rent	-10% $56	-5% $117	+0% $179	+5% $240	+10% $301
Rate	-1.0pp $229	-0.5pp $204	base $179	+0.5pp $153	+1.0pp $126

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4671 Tower St SE Prior Lake, MN	1.0	1.0	700	$1,235	$1.76	0d	1	0.09mi
16516 Franklin Trl SE Prior Lake, MN	1.0	1.0	650	$1,425	$2.19	0d	1	0.51mi

HOA detail condo

• Monthly dues: $406 · $4,872/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-16
   statusdays on market $100,000 Pending 97 DOM
2. 2026-06-15
   days on market $100,000 Contingent - Subject to Statutory Rescission 96 DOM
3. 2026-06-13
   days on market $100,000 Contingent - Subject to Statutory Rescission 94 DOM
4. 2026-06-13
   days on market $100,000 Contingent - Subject to Statutory Rescission 93 DOM
5. 2026-06-09
   days on market $100,000 Contingent - Subject to Statutory Rescission 90 DOM
6. 2026-06-08
   days on market $100,000 Contingent - Subject to Statutory Rescission 89 DOM
7. 2026-06-07
   statusdays on market $100,000 Contingent - Subject to Statutory Rescission 88 DOM
8. 2026-06-04
   days on market $100,000 Active 85 DOM
9. 2026-06-03
   days on market $100,000 Active 84 DOM
10. 2026-06-02
    days on market $100,000 Active 83 DOM
11. 2026-06-01
    days on market $100,000 Active 82 DOM
12. 2026-05-31
    days on market $100,000 Active 81 DOM
13. 2026-04-09
    price $100,000 1026-char remark

    Show marketing remark (1026 chars)

    Welcome home to easy, maintenance-free living in this thoughtfully designed 1-bedroom, 1-bathroom condo offering comfort, convenience, and fantastic community amenities. This well-maintained unit features an open and functional layout with wide doorways and easy-flow living spaces designed for everyday comfort. The bright living area is filled with natural light and seamlessly connects to the dining space and kitchen, creating a welcoming setting for relaxing or entertaining. The spacious bedroom offers generous closet space and convenient access to the bath. Enjoy amenities including a heated outdoor pool, locker rooms, sauna, fully equipped fitness center, and inviting community room—perfect for gatherings, events, or meeting neighbors. Additional conveniences include secure entry, elevator access, and dedicated parking. Located close to shopping, dining, and major roadways, this condo offers the ideal blend of comfort and convenience. Move-in ready and waiting for you—schedule your showing today!

14. 2026-03-12
    listed $110,000 Active 1026-char remark

    Show marketing remark (1026 chars)

    Welcome home to easy, maintenance-free living in this thoughtfully designed 1-bedroom, 1-bathroom condo offering comfort, convenience, and fantastic community amenities. This well-maintained unit features an open and functional layout with wide doorways and easy-flow living spaces designed for everyday comfort. The bright living area is filled with natural light and seamlessly connects to the dining space and kitchen, creating a welcoming setting for relaxing or entertaining. The spacious bedroom offers generous closet space and convenient access to the bath. Enjoy amenities including a heated outdoor pool, locker rooms, sauna, fully equipped fitness center, and inviting community room—perfect for gatherings, events, or meeting neighbors. Additional conveniences include secure entry, elevator access, and dedicated parking. Located close to shopping, dining, and major roadways, this condo offers the ideal blend of comfort and convenience. Move-in ready and waiting for you—schedule your showing today!

15. 2026-03-10
    historical $110,000 1026-char remark

    Show marketing remark (1026 chars)

    Welcome home to easy, maintenance-free living in this thoughtfully designed 1-bedroom, 1-bathroom condo offering comfort, convenience, and fantastic community amenities. This well-maintained unit features an open and functional layout with wide doorways and easy-flow living spaces designed for everyday comfort. The bright living area is filled with natural light and seamlessly connects to the dining space and kitchen, creating a welcoming setting for relaxing or entertaining. The spacious bedroom offers generous closet space and convenient access to the bath. Enjoy amenities including a heated outdoor pool, locker rooms, sauna, fully equipped fitness center, and inviting community room—perfect for gatherings, events, or meeting neighbors. Additional conveniences include secure entry, elevator access, and dedicated parking. Located close to shopping, dining, and major roadways, this condo offers the ideal blend of comfort and convenience. Move-in ready and waiting for you—schedule your showing today!

16. 2018-05-03
    soldstatus $86,600
17. 2018-04-26
    soldstatus $87,000 Sold 452-char remark

    Show marketing remark (452 chars)

    Why rent when you can OWN? Here's your opportunity to live in the downtown prior lake area for less than rent. Very convenient location being only walking distance from local shops and entertainment spots. This first floor Handicap accessible 1 BR / 1 Bath is a must see! This home has new paint, new carpet and is MOVE IN ready! Amenities include: heated outdoor underground pool, workout center, entertainment/party room, heated underground parking.

18. 2018-04-01
    status Pending 452-char remark

    Show marketing remark (452 chars)

    Why rent when you can OWN? Here's your opportunity to live in the downtown prior lake area for less than rent. Very convenient location being only walking distance from local shops and entertainment spots. This first floor Handicap accessible 1 BR / 1 Bath is a must see! This home has new paint, new carpet and is MOVE IN ready! Amenities include: heated outdoor underground pool, workout center, entertainment/party room, heated underground parking.

19. 2018-03-27
    historical Contingent - Inspection 452-char remark

    Show marketing remark (452 chars)

    Why rent when you can OWN? Here's your opportunity to live in the downtown prior lake area for less than rent. Very convenient location being only walking distance from local shops and entertainment spots. This first floor Handicap accessible 1 BR / 1 Bath is a must see! This home has new paint, new carpet and is MOVE IN ready! Amenities include: heated outdoor underground pool, workout center, entertainment/party room, heated underground parking.

20. 2018-03-20
    status Pending 452-char remark

    Show marketing remark (452 chars)

    Why rent when you can OWN? Here's your opportunity to live in the downtown prior lake area for less than rent. Very convenient location being only walking distance from local shops and entertainment spots. This first floor Handicap accessible 1 BR / 1 Bath is a must see! This home has new paint, new carpet and is MOVE IN ready! Amenities include: heated outdoor underground pool, workout center, entertainment/party room, heated underground parking.

21. 2018-03-12
    price $89,900 452-char remark

    Show marketing remark (452 chars)

    Why rent when you can OWN? Here's your opportunity to live in the downtown prior lake area for less than rent. Very convenient location being only walking distance from local shops and entertainment spots. This first floor Handicap accessible 1 BR / 1 Bath is a must see! This home has new paint, new carpet and is MOVE IN ready! Amenities include: heated outdoor underground pool, workout center, entertainment/party room, heated underground parking.

22. 2018-01-04
    listed $91,900 Active 452-char remark

    Show marketing remark (452 chars)

    Why rent when you can OWN? Here's your opportunity to live in the downtown prior lake area for less than rent. Very convenient location being only walking distance from local shops and entertainment spots. This first floor Handicap accessible 1 BR / 1 Bath is a must see! This home has new paint, new carpet and is MOVE IN ready! Amenities include: heated outdoor underground pool, workout center, entertainment/party room, heated underground parking.

23. 2008-06-06
    historical
24. 2008-02-28
    listed $109,900
25. 2005-09-28
    soldstatus $104,050
26. 2005-09-26
    soldstatus $103,650
27. 2005-07-21
    historical
28. 2005-07-21
    listed $99,900

ⓘ 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: $844 · $70/mo
• Projected year-2 tax: $982 · $82/mo
• Expected delta: +$138/yr (+$12/mo · 16.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 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: $18,546
• − Mortgage interest: −$5,602
• − Property taxes: −$844
• − Insurance: −$500
• − Repairs & maintenance: −$1,484
• − Management: −$1,484
• − HOA: −$4,872
• − Depreciation: −$2,909
• Taxable income: $852
• Est. tax owed @ 24.0%: −$204
• After-tax cash flow: $1,938/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: Prior Lake-Savage Area Schools
• NCES district ID: 2730060
• Math proficiency: 56% ▼ -16.00%
• Reading proficiency: 59% ▼ -9.00%
• Median HH income: $96,810
• Composite: 53.47/100
• National rank: #1457
• State rank: #32 of 301 in MN

Livability — Prior Lake

• Score: 71/100
• State rank: #308
• US rank: #6720

Category grades

Amenities F Commute F Cost of living D- 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: Prior Lake, MN
• County: Scott County · 116,975 people
• City population: 34,772
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 34,772
• Household income: $145,499
• Rent vs Own: 9.3% rent · 90.7% own
• Severe rent burden: 241.0

Population outlook (Scott County) Hauer SSP2

• Today (2025): 165,899 people
• By 2030: 177,290 · +6.9%
• By 2040: 199,019 · +20.0%
• By 2050: 216,883 · +30.7%
• By 2075: 256,099 · +54.4%
• By 2100: 276,434 · +66.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 5% Asian 5% Hispanic / Latino 4% Black 1% Native American 1%
• Common ancestry: Portuguese 15% Romanian 5% Scottish 2%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 2% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Scott

• 2024 margin: Lean R (+8.5) · D 44.8% · R 53.3% · Other 1.9%
• 2008→2024 swing: +2.7pp toward D · 2008: -11.2pp · 2024: -8.5pp
• All cycles: 2024: R+8.5 2020: R+6.6 2016: R+15.4 2012: R+14.8 2008: R+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -297.20%
• Current HPI: 224.8871
• Rent YoY: ▲ 2.16%
• 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

+0.1% since first listed

16 events — show timeline

• 2026-04-09 Price Changed $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-12 Listed $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-10 Coming Soon $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-05-03 Sold (Public Records) $86,600 Public Records
• 2018-04-26 Sold (MLS) $87,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-04-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-03-27 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2018-03-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-03-12 Price Changed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-01-04 Listed $91,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-06-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-28 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-09-28 Sold (MLS) $104,050 NORTHSTARMLS as Distributed by MLS Grid
• 2005-09-26 Sold (Public Records) $103,650 Public Records
• 2005-07-21 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-07-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.0%/yr

Latest (2025): $844 · -7.0% YoY. Source: county tax records.