3861 Conroy Trl · Inver Grove Heights, MN 55076

$210,000

4 bd · 2.0 ba · 1,604 sqft · Townhouse public records · 3 Days on market

Built 1972 2,200 sqft lot $390/mo HOA · 17% 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 +13.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Amazing side by side townhome available only due to relocation! This home has custom updates in the last few years to include new flooring, light fixtures, updated lower-level bathroom, a fantastic electric stone-surround fireplace in the lower-level, a brand-new furnace, AC and washer in 2021, roof (2020), and fence in the front yard that was build summer of 2022. There are 2 bedrooms on the upper level and 2 bedrooms on the lower level, as well as 1 bathroom on each level. Close access to a park with tennis courts and baseball fields, a grocery store, middle school, and community college.

Key facts

• $390 HOA
• Built 1972
• Listed 3 days

Property features AI

Finance

• HOA & community: RowCal association; Monthly association fee of $390; HOA covers hazard insurance, lawn care, grounds maintenance, professional management, and snow removal

Exterior

• Parking: Asphalt parking
• Utilities: City water connected; City sewer connected; 100 amp electric service (Xcel Energy); Natural gas
• Home design: Residential attached property; Split entry (bi-level) home; Main level finished area present; Above and below grade finished living areas
• Construction: Block construction; Block foundation; Roof age 8 years or less
• Exterior features: Vinyl exterior; Deck; Patio; Full privacy vinyl fence; Light tree coverage; Private road frontage (association maintained)

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher; Exhaust fan
• Bedrooms: 4 bedrooms (main/upper and lower levels described below); Primary bedroom on main floor
• Bathrooms: Main floor full bath; Basement 3/4 bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Natural woodwork; Finished basement with egress window(s) and walkout; Drain tiled basement
• Laundry & utility: Washer hookup; Dryer hookup (gas); Washer/Dryer hookup included; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $210k.

Deal economics

• At list price, monthly cash flow is $18 ($211/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Cap rate 6.4% vs local median 3.2% in Inver Grove Heights — 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 76/100 on livability (#146 in MN, #3,277 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, health & safety F.
• Inver Grove Heights Schools (suburban): math 32% / reading 41% proficiency, ranked #234 of 301 in MN (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hilltop Elementary (math 22% / reading 32%, grade F, #703 of 857 statewide, top 84%, 574 students, 62% FRL); Inver Grove Heights Middle (math 25% / reading 36%, grade F, #192 of 258 statewide, top 77%, 761 students, 59% FRL); Simley Senior High (math 27% / reading 52%, grade F, #246 of 471 statewide, top 59%, 1,062 students, 49% FRL) — zoned schools average 57% FRL vs 31% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 105 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $210,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.07% ✓
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 7.8

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-32,689
• Equity at exit: $31,312

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-26,125
• Equity at exit: $18,157

Cash invested: $58,800 (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 55076

• Active inventory: 105
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,245 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$177 /mo · $2,128/yr
• Insurance: −$88
• HOA: −$390
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $18

Break-even live

Break-even rent $2,223

Max offer price $210,000

Occupancy floor 94%

Sensitivity live

Price	-10% $136	-5% $77	+0% $18	+5% $-42	+10% $-101
Rent	-10% $-160	-5% $-71	+0% $18	+5% $106	+10% $195
Rate	-1.0pp $123	-0.5pp $71	base $18	+0.5pp $-37	+1.0pp $-92

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7535 Cloman Way E Unit A Inver Grove Heights, MN	3.0	1.0	1500	$1,950	$1.30	5d	1	0.31mi
3284 71st St E Inver Grove Heights, MN	3.0	1.5	1630	$2,539	$1.56	0d	1	0.80mi
1241 Mullan Ct Saint Paul Park, MN	3.0	3.0	1864	$2,700	$1.45	18d	1	1.25mi
1236 1st St Saint Paul Park, MN	4.0	2.0	1895	$2,595	$1.37	45d	1	1.33mi

HOA detail

• Monthly dues: $390 · $4,680/yr
• Likely covers: electric

Listing history 37 events

1. 2026-05-03
   status Pending 869-char remark
2. 2026-05-01
   listed $210,000 Active 869-char remark
3. 2026-04-30
   historical $210,000 869-char remark
4. 2026-01-12
   historical
5. 2025-12-15
   price $210,000
6. 2025-12-10
   price $215,000
7. 2025-10-17
   price $218,000
8. 2025-09-29
   status Active
9. 2025-06-26
   listed $222,500 Active
10. 2025-06-23
    historical
11. 2023-02-22
    soldstatus $211,900
12. 2023-02-17
    soldstatus $211,900 Sold

    Show marketing remark (600 chars)

    Amazing side by side townhome available only due to relocation! This home has custom updates in the last few years to include new flooring, light fixtures, updated lower-level bathroom, a fantastic electric stone-surround fireplace in the lower-level, a brand-new furnace, AC and washer in 2021, roof (2020), and fence in the front yard that was build summer of 2022. There are 2 bedrooms on the upper level and 2 bedrooms on the lower level, as well as 1 bathroom on each level. Close access to a park with tennis courts and baseball fields, a grocery store, middle school, and community college.

13. 2023-02-13
    status Pending

    Show marketing remark (600 chars)

    Amazing side by side townhome available only due to relocation! This home has custom updates in the last few years to include new flooring, light fixtures, updated lower-level bathroom, a fantastic electric stone-surround fireplace in the lower-level, a brand-new furnace, AC and washer in 2021, roof (2020), and fence in the front yard that was build summer of 2022. There are 2 bedrooms on the upper level and 2 bedrooms on the lower level, as well as 1 bathroom on each level. Close access to a park with tennis courts and baseball fields, a grocery store, middle school, and community college.

14. 2023-01-23
    historical Contingent - Subject to Statutory Rescission

    Show marketing remark (600 chars)

    Amazing side by side townhome available only due to relocation! This home has custom updates in the last few years to include new flooring, light fixtures, updated lower-level bathroom, a fantastic electric stone-surround fireplace in the lower-level, a brand-new furnace, AC and washer in 2021, roof (2020), and fence in the front yard that was build summer of 2022. There are 2 bedrooms on the upper level and 2 bedrooms on the lower level, as well as 1 bathroom on each level. Close access to a park with tennis courts and baseball fields, a grocery store, middle school, and community college.

15. 2023-01-20
    listed $209,900 Active

    Show marketing remark (600 chars)

    Amazing side by side townhome available only due to relocation! This home has custom updates in the last few years to include new flooring, light fixtures, updated lower-level bathroom, a fantastic electric stone-surround fireplace in the lower-level, a brand-new furnace, AC and washer in 2021, roof (2020), and fence in the front yard that was build summer of 2022. There are 2 bedrooms on the upper level and 2 bedrooms on the lower level, as well as 1 bathroom on each level. Close access to a park with tennis courts and baseball fields, a grocery store, middle school, and community college.

16. 2023-01-16
    historical $209,900

    Show marketing remark (600 chars)

    Amazing side by side townhome available only due to relocation! This home has custom updates in the last few years to include new flooring, light fixtures, updated lower-level bathroom, a fantastic electric stone-surround fireplace in the lower-level, a brand-new furnace, AC and washer in 2021, roof (2020), and fence in the front yard that was build summer of 2022. There are 2 bedrooms on the upper level and 2 bedrooms on the lower level, as well as 1 bathroom on each level. Close access to a park with tennis courts and baseball fields, a grocery store, middle school, and community college.

17. 2020-06-22
    soldstatus $170,000
18. 2020-04-24
    soldstatus $170,000 Sold
19. 2020-03-26
    status Pending
20. 2020-03-18
    historical Contingent - Inspection
21. 2020-03-17
    status Active
22. 2020-03-13
    historical Contingent - Inspection
23. 2020-03-10
    listed $165,000 Active
24. 2013-10-15
    soldstatus $50,000
25. 2013-10-15
    soldstatus $71,000
26. 2013-09-09
    soldstatus $71,000 Sold
27. 2013-08-19
    historical
28. 2013-07-07
    listed $69,900
29. 2011-04-04
    soldstatus $50,000
30. 2011-02-02
    soldstatus $44,900
31. 2011-01-05
    historical
32. 2010-12-14
    listed $41,900
33. 2003-08-22
    soldstatus $126,275
34. 2003-07-03
    soldstatus $129,000
35. 2003-05-27
    historical
36. 2003-05-01
    listed $129,000
37. 1998-11-17
    soldstatus $69,500

ⓘ 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: $2,128 · $177/mo
• Projected year-2 tax: $2,240 · $187/mo
• Expected delta: +$112/yr (+$9/mo · 5.3%)

ⓘ 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: $26,942
• − Mortgage interest: −$11,763
• − Property taxes: −$2,128
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,155
• − Management: −$2,155
• − HOA: −$4,680
• − Depreciation: −$6,109
• Taxable loss: −$3,099
• Est. tax savings @ 24.0%: +$744
• After-tax cash flow: $955/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: Inver Grove Heights Schools
• NCES district ID: 2715030
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 41% ▼ -11.00%
• Median HH income: $63,476
• Composite: 32.85/100
• National rank: #5614
• State rank: #234 of 301 in MN

Livability — Inver Grove Heights

• Score: 76/100
• State rank: #146
• US rank: #3277

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: Inver Grove Heights, MN
• City population: 14,503
• Population (ZIP): 21,258

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 6% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Portuguese 8% Romanian 5% Scottish 4%
• Foreign-born: 9% · Canada, Jamaica, Vietnam
• Languages at home: 89% English-only · Spanish 7% German/W. Germanic 1% French/Haitian/Cajun 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: ▼ -256.08%
• Current HPI: 209.7955
• Rent YoY: —
• Metro: —
• 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

+202.2% since first listed

38 events — show timeline

• 2026-06-12 Sold (MLS) $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Coming Soon $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-15 Price Changed $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-10 Price Changed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-17 Price Changed $218,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-29 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-26 Listed $222,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-23 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-22 Sold (Public Records) $211,900 Public Records
• 2023-02-17 Sold (MLS) $211,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-23 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-20 Listed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-16 Coming Soon $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-22 Sold (Public Records) $170,000 Public Records
• 2020-04-24 Sold (MLS) $170,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-17 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-13 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-10 Listed $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-10-15 Sold (Public Records) $71,000 Public Records
• 2013-10-15 Sold (Public Records) $50,000 Public Records
• 2013-09-09 Sold (MLS) $71,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-08-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-07 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-04-04 Sold (Public Records) $50,000 Public Records
• 2011-02-02 Sold (MLS) $44,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-14 Listed $41,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-08-22 Sold (Public Records) $126,275 Public Records
• 2003-07-03 Sold (MLS) $129,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-05-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-05-01 Listed $129,000 NORTHSTARMLS as Distributed by MLS Grid
• 1998-11-17 Sold (Public Records) $69,500 Public Records

Property tax history

+4.3%/yr

Latest (2025): $2,128 · +12.8% YoY. Source: county tax records.