1401 Mcintosh Cir

Shakopee, MN 55379

$299,900C+

4 bd · 2.0 ba · 1,638 sqft · Built 1998 · MultiFamily · Coming Soon · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,612/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$358
• HOA: −$155
• Vac / Maint / Mgmt: −$759
• Net cashflow: $768/mo
• Annual: $9,214/yr
• Cap rate: 9.37%
• Cash-on-cash: 10.97%
• DSCR: 1.49
• 1% rule: 1.20%
• Cash to close: $83,972

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $300k.
• At list price, monthly cash flow is $768 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 90/100 on livability (#3 in MN, #102 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• Shakopee Public School District (suburban): math 42% / reading 56% proficiency, ranked #95 of 301 in MN (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jackson Elementary (math 67% / reading 58%, grade B, #173 of 857 statewide, top 21%, 749 students, 36% FRL); Shakopee West Middle School (math 26% / reading 52%, grade F, #154 of 258 statewide, top 60%, 895 students, 43% FRL); Shakopee High School (math 47% / reading 60%, grade C-, #104 of 471 statewide, top 22%, 2,770 students, 38% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 470 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 699 units permitted in Scott County in 2024 (84 in 5+ unit buildings).
• Scott County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 21y ago; this cycle's ask is 143% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $124k; list at $300k implies a 143% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $84k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 9.4% vs local median 3.3% in Shakopee — 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.
• This rent runs 41% of the median local income ($106k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.
• 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.
• 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.