14630 Garrett Ave #401 · Apple Valley, MN 55124

$159,900

2 bd · 1.0 ba · 881 sqft · Condo public records · 3 Days on market

Built 1980 $425/mo HOA · 21% 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 +19.4/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Schools +4.9/10.0
• Livability +4.3/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully updated, move-in-ready condo in one of Apple Valley's most convenient locations! Thoughtfully maintained and loaded with recent improvements, this inviting home features freshly painted walls, woodwork, and doors, along with professionally updated ceilings where the popcorn texture has been removed and refinished for a clean, modern appearance. The kitchen offers added convenience with USB outlets, while Alexa-enabled light switches throughout the home provide smart-home functionality at your fingertips. The updated bathroom includes a fan with an electric timer for enhanced comfort and efficiency. Enjoy added peace of mind with a Ring doorbell and exterior

Key facts

• Updated condo
• Ring doorbell
• Updated bathroom

Tags

• UPDATED CONDO
• USB OUTLETS
• ALEXA-ENABLED LIGHT SWITCHES
• UPDATED BATHROOM
• RING DOORBELL
• EXTERIOR SECURITY CAMERAS

Property features AI

Finance

• Other: Fractional ownership not applicable
• Financial info: Conventional financing available
• HOA & community: Has HOA managed by Network Management Association; Monthly association fee of $425; HOA covers lawn care, grounds maintenance, parking, professional management, recreation facility, shared amenities, and snow removal

Exterior

• Parking: Parking lot; One garage space (garage approx. 21x11 with 8' door height); Guest parking available near building
• Utilities: City water connected; City sewer connected; Circuit breaker electric; Fuel: Electric and Natural Gas
• Home design: Residential attached property; Multiple levels (more than 2 stories); Main living on main level; Block foundation
• Construction: Concrete construction materials; Block foundation
• Exterior features: Patio; Wood exterior; Zero lot line; City street frontage; No fencing

Interior

• Kitchen: Cooktop; Dishwasher; Microwave; Refrigerator; Exhaust fan
• Bedrooms: Two bedrooms on the main level (10x16 and 10x11)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard heating; Wall cooling unit(s); Electric and natural gas available
• Interior features: Kitchen/dining combined; Humidifier; Exhaust fan; Club house (shared amenity)
• Laundry & utility: Washer and dryer included; Laundry located in hall; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $160k.

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 $160k).
• Cap rate 7.6% vs local median 4.0% in Apple Valley — 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 86/100 on livability (#10 in MN, #379 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities F.
• Rosemount-Apple Valley-Eagan (suburban): math 50% / reading 58% proficiency, ranked #58 of 301 in MN (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.3%/yr); 276 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $5k 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.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $159,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.29% ✓
• Cap rate: 7.64%
• Cash-on-cash: 4.80%
• DSCR: 1.21
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.27% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.69×
• Total profit: $-13,690
• Equity at exit: $23,842

10-year hold

• IRR: 1.9%
• Equity multiple: 1.14×
• Total profit: $6,086
• Equity at exit: $13,825

Cash invested: $44,772 (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 55124

• Rents YoY: 3.3%
• Active inventory: 276
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,063 high
• Mortgage (P&I): −$839
• Tax from tax record: −$120 /mo · $1,446/yr
• Insurance: −$67
• HOA: −$425
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $179

Break-even live

Break-even rent $1,836

Max offer price $159,900

Occupancy floor 86%

Sensitivity live

Price	-10% $270	-5% $224	+0% $179	+5% $134	+10% $89
Rent	-10% $16	-5% $98	+0% $179	+5% $261	+10% $342
Rate	-1.0pp $260	-0.5pp $220	base $179	+0.5pp $138	+1.0pp $96

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6859 152nd St W Apple Valley, MN	1.0–3.0	1.0–2.0	1062	$2,022	$1.90	0d	13	0.64mi
15283 Galante Ln Saint Paul, MN	2.0	1.0–2.0	880	$2,250	$2.56	0d	17	0.65mi
15380 Garrett Ave Saint Paul, MN	1.0–2.0	1.0–3.0	1676	$3,296	$1.97	3d	10	0.67mi
14191 Pennock Ave Saint Paul, MN	1.0–2.0	1.0–2.0	865	$1,725	$1.99	25d	5	0.74mi
7802 Whitney Dr Apple Valley, MN	2.0	1.0	1000	$1,400	$1.40	25d	2	0.76mi
6780 Fortino St Saint Paul, MN	1.0–2.0	1.0–2.0	1117	$4,085	$3.66	0d	12	0.80mi
14650 Foliage Ave Saint Paul, MN	3.0	1.0–2.0	978	$2,263	$2.31	0d	24	0.81mi
15600 Galaxie Ave Saint Paul, MN	1.0–3.0	1.0–2.0	1244	$1,642	$1.32	0d	7	0.90mi
7624 157th St W Apple Valley, MN	1.0	1.0	720	$1,395	$1.94	25d	1	1.01mi
15533 Flight Way Apple Valley, MN	2.0	1.5	976	$1,995	$2.04	25d	1	1.02mi
15531 Flyboat Ln Apple Valley, MN	2.0	1.5	1010	$1,865	$1.85	25d	1	1.08mi
15539 Float Ln Apple Valley, MN	2.0	1.5	927	$1,795	$1.94	25d	1	1.12mi
7472 157th St W Apple Valley, MN	1.0–3.0	1.0–2.0	1031	$1,468	$1.42	0d	2	1.12mi
15734 Foliage Ave Saint Paul, MN	1.0–3.0	1.0–2.0	1130	$1,810	$1.60	0d	15	1.19mi

HOA detail condo

• Monthly dues: $425 · $5,100/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-21
   days on market $159,900 Active 3 DOM
2. 2026-06-19
   pricedays on marketlisting id $159,900 Active 1 DOM
3. 2026-06-15
   days on market $164,900 Active 10 DOM
4. 2026-06-13
   days on market $164,900 Active 8 DOM
5. 2026-06-13
   days on market $164,900 Active 7 DOM
6. 2026-06-09
   days on market $164,900 Active 4 DOM
7. 2026-06-08
   days on market $164,900 Active 3 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $164,900 Active 2 DOM

ⓘ 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: $1,446 · $120/mo
• Projected year-2 tax: $1,618 · $135/mo
• Expected delta: +$172/yr (+$14/mo · 11.9%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,758
• − Mortgage interest: −$8,957
• − Property taxes: −$1,446
• − Insurance: −$800
• − Repairs & maintenance: −$1,981
• − Management: −$1,981
• − HOA: −$5,100
• − Depreciation: −$4,652
• Taxable loss: −$157
• Est. tax savings @ 24.0%: +$38
• After-tax cash flow: $2,189/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: Rosemount-Apple Valley-Eagan
• NCES district ID: 2732390
• Math proficiency: 50% ▼ -14.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $85,559
• Composite: 49.48/100
• National rank: #2000
• State rank: #58 of 301 in MN

Livability — Apple Valley

• Score: 86/100
• State rank: #10
• US rank: #379

Category grades

Amenities F Commute A+ Cost of living C Crime B Employment A+ Housing A+ Health & safety A User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Apple Valley, MN
• County: Dakota County · 417,704 people
• City population: 55,658
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 55,658
• Household income: $97,727
• Rent vs Own: 26.5% rent · 73.5% own
• Severe rent burden: 1406.0

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 (69%)
• Race & ethnicity: White 69% Black 10% Two or more races 9% Hispanic / Latino 7% Asian 6%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Portuguese 10% Romanian 3% Italian 3%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 85% English-only · Spanish 5% Other Asian/Pacific 2% Other Indo-European 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: ▼ -275.56%
• Current HPI: 227.4734
• Rent YoY: ▲ 3.27%
• 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

+333.9% since first listed

4 events — show timeline

• 2026-06-03 Listed $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-11 Sold (Public Records) $150,000 Public Records
• 2007-08-13 Sold (Public Records) $125,000 Public Records
• 1995-12-14 Sold (Public Records) $38,000 Public Records