4110 Rahn Rd #221 · Eagan, MN 55122

$107,500

2 bd · 1.0 ba · 900 sqft · Townhouse public records · 30 Days on market

Built 1972 $519/mo HOA · 32% of rent ↓ 8% since listing

---

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 +15.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• DSCR +4.8/10.0
• Livability +4.3/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 2 bedroom 1 bath condo in the established Eagan on the Green development. This unit comes with new flooring, stainless appliances, fresh paint, covered balcony, 2 parking spots, ample storage and more. HOA includes, heat, trash, water/sewer and hazard insurance. Rentals are allowed. ? Amenities include: Coin-op laundry, tennis court, kids playground, basketball court, BBQ grills, picnic tables, private off-leash dog park, and exercise room. Single garage plus one parking ramp stall included.

Key facts

• Tennis court
• Covered balcony
• New flooring

Tags

• NEW FLOORING
• STAINLESS APPLIANCES
• COVERED BALCONY
• AMPLE STORAGE
• COIN-OP LAUNDRY
• TENNIS COURT

Property features AI

Finance

• Other: Living area reported as 1,481 square feet (total); Foundation area listed as 900
• Financial info: Rental license: Standard (rental license on file)
• HOA & community: HOA: Cities Management; Monthly association fee ($519/month) covering hazard insurance, lawn care, grounds maintenance, professional management, snow removal, and water; Community deck amenity

Exterior

• Parking: Attached garage (1 car)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential attached property; Two levels; Main entry level is the main floor; Has additional parcels
• Construction: Frame construction; Slab foundation; Built with approximately 900 sq ft main level finished area
• Exterior features: Vinyl exterior; No fencing; Patio

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Two bedrooms on the main level (13x11 and 10x10)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Wall unit air conditioning
• Interior features: Fireplace (1); Main floor full bathroom; Kitchen/dining room layout; Walk-in closet; Patio
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $108k.

Deal economics

• At list price, monthly cash flow is $45 ($545/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Recommended offer: $106k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 3.3% in Eagan — 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 (#13 in MN, #418 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living D+, 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 flat; 90 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $743 of loan paydown is wiped out by about $3k 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

• It's been on market 30 days — a 2% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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.
• Current owner paid $85k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $105,887 (1.5% below list)

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. 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?
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: 1.50% ✓
• Cap rate: 6.80%
• Cash-on-cash: 1.81%
• DSCR: 1.08
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.84% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.41×
• Total profit: $-17,637
• Equity at exit: $16,029

10-year hold

• IRR: -16.8%
• Equity multiple: 0.21×
• Total profit: $-23,811
• Equity at exit: $9,295

Cash invested: $30,100 (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 55122

• Rents YoY: 0.8%
• Active inventory: 90
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,614 high
• Mortgage (P&I): −$564
• Tax from tax record: −$102 /mo · $1,226/yr
• Insurance: −$45
• HOA: −$519
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $45

Break-even live

Break-even rent $1,557

Max offer price $107,500

Occupancy floor 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: $26,875
• Closing costs: $3,225
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4110 Rahn Rd #207 Saint Paul, MN	2.0	1.0	911	$1,695	$1.86	24d	1	0.01mi
1950 Jade Ln Saint Paul, MN	1.0–2.0	1.0	806	$1,595	$1.98	2d	4	0.05mi
4130 Rahn Rd #214 Saint Paul, MN	2.0	1.0	911	$1,350	$1.48	24d	1	0.06mi
4150 Rahn Rd Eagan, MN	1.0–2.0	1.0	762	$1,325	$1.74	2d	6	0.13mi
4130 Durham Ct Eagan, MN	2.0	1.0	1076	$1,750	$1.63	24d	1	0.13mi
1946 Glenfield Ct Saint Paul, MN	2.0	1.0	1080	$1,695	$1.57	24d	1	0.20mi
3903 Cedar Grove Pkwy Saint Paul, MN	2.0	1.0–2.0	877	$2,806	$3.20	1d	14	0.58mi
1811 Trailway Dr Unit 6 St Paul, MN	1.0	1.0	755	$1,349	$1.79	5d	1	0.66mi
3800 Ballantrae Rd Eagan, MN	3.0	1.0–2.0	1093	$2,203	$2.02	1d	1	0.67mi
3825 Cedar Grove Pkwy Saint Paul, MN	1.0–3.0	1.0–2.0	1117	$2,040	$1.83	1d	26	0.67mi
1835 Trailway Dr Unit 6 St Paul, MN	1.0	1.0	755	$1,349	$1.79	5d	1	0.68mi
1813 Trailway Dr Saint Paul, MN	1.0–2.0	1.0–1.5	857	$1,609	$1.88	5d	6	0.69mi
1805 Trailway Dr Apt 7 Eagan, MN	2.0	1.5	960	$1,609	$1.68	24d	1	0.74mi
1803 Trailway Dr Apt 6 St Paul, MN	1.0	1.0	755	$1,389	$1.84	17d	1	0.75mi
4502 Cinnamon Ridge Trl Unit B Saint Paul, MN	2.0	1.0	1020	$1,745	$1.71	24d	1	1.31mi
4598 Slater Rd Eagan, MN	2.0	1.5–2.0	1150	$1,780	$1.55	1d	6	1.48mi

HOA detail

• Monthly dues: $519 · $6,228/yr
• Likely covers: watersewertrashinsurance

Listing history 23 events

1. 2026-06-18
   days on market $107,500 Active 30 DOM
2. 2026-06-17
   days on market $107,500 Active 29 DOM
3. 2026-06-16
   days on market $107,500 Active 28 DOM
4. 2026-06-15
   days on market $107,500 Active 27 DOM
5. 2026-06-13
   days on market $107,500 Active 25 DOM
6. 2026-06-13
   days on market $107,500 Active 24 DOM
7. 2026-06-09
   days on market $107,500 Active 21 DOM
8. 2026-06-08
   pricedays on market $107,500 Active 20 DOM
9. 2026-06-07
   days on market $111,999 Active 19 DOM
10. 2026-06-04
    days on market $111,999 Active 16 DOM
11. 2026-06-03
    days on market $111,999 Active 15 DOM
12. 2026-06-02
    days on market $111,999 Active 14 DOM
13. 2026-06-01
    days on market $111,999 Active 13 DOM
14. 2026-05-31
    days on market $111,999 Active 12 DOM
15. 2026-05-19
    listed $111,999 Active
16. 2024-04-06
    historical $1,200
17. 2024-03-03
    price $1,200
18. 2023-12-22
    listed $1,300
19. 2017-05-16
    soldstatus $85,000
20. 2015-03-16
    soldstatus $74,900
21. 2011-04-05
    soldstatus $33,000
22. 2005-06-22
    listed $122,350
23. 2005-06-22
    historical

ⓘ 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: $1,226 · $102/mo
• Projected year-2 tax: $1,226 · $102/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 3/10 Moderate
• 🌡 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: $19,369
• − Mortgage interest: −$6,022
• − Property taxes: −$1,226
• − Insurance: −$538
• − Repairs & maintenance: −$1,550
• − Management: −$1,550
• − HOA: −$6,228
• − Depreciation: −$3,127
• Taxable loss: −$870
• Est. tax savings @ 24.0%: +$209
• After-tax cash flow: $754/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 — Eagan

• Score: 86/100
• State rank: #13
• US rank: #418

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eagan, MN
• County: Dakota County · 417,704 people
• City population: 67,960
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 32,261
• Household income: $96,823
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1005.0

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 (68%)
• Race & ethnicity: White 68% Black 15% Asian 9% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Romanian 3% Iranian 3%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 84% English-only · Other Asian/Pacific 4% Spanish 2% Chinese 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: ▼ -230.39%
• Current HPI: 226.6631
• Rent YoY: ▲ 0.84%
• 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

-8.5% since first listed

9 events — show timeline

• 2026-05-19 Listed $111,999 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-06 Rental Removed $1,200 RENTFEEDER
• 2024-03-03 Price Changed $1,200 RENTFEEDER
• 2023-12-22 Listed for Rent $1,300 RENTFEEDER
• 2017-05-16 Sold (Public Records) $85,000 Public Records
• 2015-03-16 Sold (Public Records) $74,900 Public Records
• 2011-04-05 Sold (Public Records) $33,000 Public Records
• 2005-06-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-22 Listed $122,350 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+10.5%/yr

Latest (2025): $1,226 · -5.3% YoY. Source: county tax records.