4372 Blakewood Dr · Shakopee, MN 55379

$265,000

3 bd · 2.0 ba · 1,308 sqft · Townhouse public records · 69 Days on market

Built 2005 1,306 sqft lot $203/sqft · 19% below area Est $300k · 12% under $302/mo HOA · 14% 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).

• ARV discount +12.7/15.0
• Cash flow +8.1/30.0
• Schools +4.5/10.0
• Livability +4.5/5.0
• Rent growth +3.5/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready home at 4372 Blakewood Ave in Shakopee featuring numerous recent updates and a highly convenient location. Interior improvements include remodeled main level and lower bathrooms, new flooring in the kitchen and living room, painted kitchen cabinets, and fresh paint throughout. Major mechanical and exterior upgrades provide peace of mind with a new HVAC system in 2025 and a new asphalt driveway. Enjoy easy everyday living with nearby shopping and quick access to Hwy 169 for a smooth commute. The home is also conveniently located close to Shakopee’s top entertainment destinations including Mystic Lake Casino, Canterbury Park, and the new Mystic Lake Amphitheater, offering dining, concerts, and year-round activities just minutes away. A great opportunity to own an updated home in a location that combines comfort, convenience, and accessibility.

Key facts

• New flooring
• Remodeled main level
• New microwave

Tags

• REMODELED MAIN LEVEL
• REMODELED LOWER BATHROOMS
• NEW FLOORING
• PAINTED KITCHEN CABINETS
• NEW MICROWAVE
• NEW HVAC SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $265k.

Deal economics

• At list price, monthly cash flow is $-258 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (17.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (16.7% below list).
• Recommended offer: $219k (17.2% below list) — sets the bar for cash-flow.
• Cap rate 5.1% 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.

Location & tenants

• 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.
• Market conditions: Rents rising fast (+4.0%/yr); 461 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 699 units permitted in Scott County in 2024 (84 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 69 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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 $219,403 (17.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 5.12%
• Cash-on-cash: -4.17%
• DSCR: 0.81
• GRM: 10.0

CMA / ARV

• ARV (median comp): $299,813
• List price: $265,000
• Delta: -11.61%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.05% rent growth · sell at horizon

5-year hold

• IRR: -22.0%
• Equity multiple: 0.23×
• Total profit: $-56,887
• Equity at exit: $39,512

10-year hold

• IRR: -13.2%
• Equity multiple: 0.19×
• Total profit: $-60,268
• Equity at exit: $22,912

Cash invested: $74,200 (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 55379

• Rents YoY: 4.0%
• Active inventory: 461
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,207 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$200 /mo · $2,394/yr
• Insurance: −$110
• HOA: −$302
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $-258

Break-even live

Break-even rent $2,534

Max offer price $219,403

Occupancy floor —

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1610 Emblem Way Shakopee, MN	2.0	1.0–2.0	930	$2,087	$2.24	2d	19	0.54mi

HOA detail

• Monthly dues: $302 · $3,624/yr

Listing history 29 events

1. 2026-06-18
   days on market $265,000 Active 69 DOM
2. 2026-06-17
   days on market $265,000 Active 68 DOM
3. 2026-06-16
   days on market $265,000 Active 67 DOM
4. 2026-06-15
   days on market $265,000 Active 66 DOM
5. 2026-06-13
   days on market $265,000 Active 64 DOM
6. 2026-06-13
   days on market $265,000 Active 63 DOM
7. 2026-06-09
   days on market $265,000 Active 60 DOM
8. 2026-06-08
   pricedays on market $265,000 Active 59 DOM
9. 2026-06-07
   days on market $270,000 Active 58 DOM
10. 2026-06-04
    days on market $270,000 Active 55 DOM
11. 2026-06-03
    days on market $270,000 Active 54 DOM
12. 2026-06-02
    days on market $270,000 Active 53 DOM
13. 2026-06-01
    days on market $270,000 Active 52 DOM
14. 2026-05-31
    days on market $270,000 Active 51 DOM
15. 2026-05-14
    price $270,000 874-char remark

    Show marketing remark (874 chars)

    Move-in ready home at 4372 Blakewood Ave in Shakopee featuring numerous recent updates and a highly convenient location. Interior improvements include remodeled main level and lower bathrooms, new flooring in the kitchen and living room, painted kitchen cabinets, and fresh paint throughout. Major mechanical and exterior upgrades provide peace of mind with a new HVAC system in 2025 and a new asphalt driveway. Enjoy easy everyday living with nearby shopping and quick access to Hwy 169 for a smooth commute. The home is also conveniently located close to Shakopee’s top entertainment destinations including Mystic Lake Casino, Canterbury Park, and the new Mystic Lake Amphitheater, offering dining, concerts, and year-round activities just minutes away. A great opportunity to own an updated home in a location that combines comfort, convenience, and accessibility.

16. 2026-04-10
    listed $275,000 Active 874-char remark

    Show marketing remark (874 chars)

    Move-in ready home at 4372 Blakewood Ave in Shakopee featuring numerous recent updates and a highly convenient location. Interior improvements include remodeled main level and lower bathrooms, new flooring in the kitchen and living room, painted kitchen cabinets, and fresh paint throughout. Major mechanical and exterior upgrades provide peace of mind with a new HVAC system in 2025 and a new asphalt driveway. Enjoy easy everyday living with nearby shopping and quick access to Hwy 169 for a smooth commute. The home is also conveniently located close to Shakopee’s top entertainment destinations including Mystic Lake Casino, Canterbury Park, and the new Mystic Lake Amphitheater, offering dining, concerts, and year-round activities just minutes away. A great opportunity to own an updated home in a location that combines comfort, convenience, and accessibility.

17. 2025-04-28
    soldstatus $242,000
18. 2025-04-25
    soldstatus $242,000 Sold 259-char remark

    Show marketing remark (259 chars)

    3 bed, 2 bath townhome in convenient Shakopee location. Home features a main level bedroom with ensuite and laundry. Separate access from garage into laundry room as well. Upstairs has two nice bedrooms, full bath, large living room, kitchen and dining space.

19. 2025-03-25
    historical Contingent - Subject to Statutory Rescission 259-char remark

    Show marketing remark (259 chars)

    3 bed, 2 bath townhome in convenient Shakopee location. Home features a main level bedroom with ensuite and laundry. Separate access from garage into laundry room as well. Upstairs has two nice bedrooms, full bath, large living room, kitchen and dining space.

20. 2025-03-25
    status Pending 259-char remark

    Show marketing remark (259 chars)

    3 bed, 2 bath townhome in convenient Shakopee location. Home features a main level bedroom with ensuite and laundry. Separate access from garage into laundry room as well. Upstairs has two nice bedrooms, full bath, large living room, kitchen and dining space.

21. 2025-03-14
    historical Contingent - Inspection 259-char remark

    Show marketing remark (259 chars)

    3 bed, 2 bath townhome in convenient Shakopee location. Home features a main level bedroom with ensuite and laundry. Separate access from garage into laundry room as well. Upstairs has two nice bedrooms, full bath, large living room, kitchen and dining space.

22. 2025-02-25
    price $245,000 259-char remark

    Show marketing remark (259 chars)

    3 bed, 2 bath townhome in convenient Shakopee location. Home features a main level bedroom with ensuite and laundry. Separate access from garage into laundry room as well. Upstairs has two nice bedrooms, full bath, large living room, kitchen and dining space.

23. 2024-12-12
    listed $250,000 Active 259-char remark

    Show marketing remark (259 chars)

    3 bed, 2 bath townhome in convenient Shakopee location. Home features a main level bedroom with ensuite and laundry. Separate access from garage into laundry room as well. Upstairs has two nice bedrooms, full bath, large living room, kitchen and dining space.

24. 2009-04-01
    historical
25. 2009-03-31
    soldstatus $118,500
26. 2009-01-26
    listed $125,900
27. 2008-11-06
    soldstatus $2,793,333
28. 2008-09-01
    historical
29. 2008-07-24
    listed $149,900

ⓘ 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: $2,394 · $200/mo
• Projected year-2 tax: $2,681 · $223/mo
• Expected delta: +$287/yr (+$24/mo · 12.0%)

ⓘ 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 ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,483
• − Mortgage interest: −$14,844
• − Property taxes: −$2,394
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,119
• − Management: −$2,119
• − HOA: −$3,624
• − Depreciation: −$7,709
• Taxable loss: −$7,650
• Est. tax savings @ 24.0%: +$1,836
• After-tax cash flow: $-1,261/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: Shakopee Public School District
• NCES district ID: 2733000
• Math proficiency: 42% ▼ -17.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $79,637
• Composite: 44.73/100
• National rank: #2751
• State rank: #95 of 301 in MN

Livability — Shakopee

• Score: 90/100
• State rank: #3
• US rank: #102

Category grades

Amenities A Commute A+ Cost of living C 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: Shakopee, MN
• County: Scott County · 116,975 people
• City population: 50,041
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 50,041
• Household income: $106,312
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 1009.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 64% Hispanic / Latino 11% Asian 10% Two or more races 9% Black 7% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Portuguese 9% Romanian 3% Lithuanian 2%
• Foreign-born: 16% · Canada, Vietnam, China
• Languages at home: 77% English-only · Spanish 8% Other Asian/Pacific 5% Russian/Polish/Slavic 3%

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: ▼ -253.64%
• Current HPI: 218.9993
• Rent YoY: ▲ 4.05%
• 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

+80.1% since first listed

15 events — show timeline

• 2026-05-14 Price Changed $270,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Listed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-28 Sold (Public Records) $242,000 Public Records
• 2025-04-25 Sold (MLS) $242,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-14 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-25 Price Changed $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-12 Listed $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-31 Sold (MLS) $118,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-01-26 Listed $125,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-06 Sold (Public Records) $2,793,333 Public Records
• 2008-09-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-07-24 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $2,394 · -0.1% YoY. Source: county tax records.