5760 Echo Rd · Shorewood, MN 55331

$650,000

3 bd · 2.5 ba · 2,556 sqft · SingleFamily public records · 8 Days on market

Built 1964 0.44 ac lot $254/sqft · 44% below area Est $1203k · 46% under · waterfront

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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 +15.0/15.0
• Cash flow +7.5/30.0
• Schools +6.6/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a gem! Private location on a sweet street of wonderful older homes. Neighbors gather for events several times yearly. Beautifully updated two-story with a vaulted ceiling four season sunroom. Guarantee your spot in top-rated Minnetonka school district. St Theresa & Blake private schools w/busing within 1.5 miles. Great Walkability: 15 minute walk to downtown Excelsior. Even closer to Joey Novas & Hazelwood restaurants. Country Club Lanes too. Four bedrooms on one level. Spacious, light-filled & freshly painted home. Beautiful hardwood floors. Sauna. Large 2 car garage. Two decks & patio. Backyard gently slopes to woods and Badger Park. Mature shade trees, rain garden. Easy access to the Regional Trails, parks & Lake Minnetonka. You can "have it all" with this house and location!

Key facts

• 0.44 acre lot
• 2 garage spots
• Built 1964

Property features AI

Finance

• Other: Main level finished area and above-grade finished area reported; Below-grade finished area reported
• Financial info: Conventional financing indicated

Exterior

• Parking: Attached garage with two spaces; Asphalt driveway; Garage door opener
• Utilities: Private well water; City sewer (connected); Natural gas
• Home design: Residential property; Two levels; Deck entry / porch; Pitched asphalt roof (age 8 years or less)
• Construction: Block foundation; Block foundation details noted; Built with vinyl and stone siding
• Exterior features: Stone and vinyl exterior; Full yard fencing; Deck and porch; Property adjoins public land; Medium tree coverage

Interior

• Kitchen: Refrigerator; Range; Microwave; Dishwasher; Stainless steel appliances
• Bedrooms: Three bedrooms (two on upper level, one additional bedroom noted); One bedroom on lower level / flex room
• Flooring: Hardwood floors
• Bathrooms: Two full baths; One three-quarter bath; One half bath; Bathroom locations include main floor half bath, upper level full bath, and a half bath in basement
• Heating & cooling: Forced air heating; Wood stove; Central air conditioning; Two wood-burning fireplaces (living room and family room) including a wood-burning stove and freestanding unit
• Interior features: Cable available; Ceiling fans; French doors; Hardwood floors; Kitchen window; Natural woodwork; Vaulted ceilings; Washer/dryer hookup
• Laundry & utility: Laundry on lower level with utility sink; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $650k.

Deal economics

• At list price, monthly cash flow is $-817 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $506k (22.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $425k (34.6% below list).
• Recommended offer: $425k (34.6% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 0.8% in Shorewood — 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 67/100 on livability (#464 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Minnetonka Public School District (suburban): math 68% / reading 74% proficiency, ranked #6 of 301 in MN (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Minnewashta Elementary (math 69% / reading 71%, grade A-, #71 of 857 statewide, top 8%, 904 students, 5% FRL); Minnetonka West Middle (math 59% / reading 75%, grade A-, #11 of 258 statewide, top 5%, 1,274 students, 9% FRL); Minnetonka Senior High (math 68% / reading 80%, grade B+, #10 of 471 statewide, top 2%, 3,508 students, 11% FRL) — zoned schools at 9% FRL track the district average.
• Market conditions: Rents rising fast (+11.1%/yr); 244 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• This rent runs 32% of the median local income ($159k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Hennepin County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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.

Recommended offer $425,285 (34.6% 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. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 0.65% ✗
• Cap rate: 4.79%
• Cash-on-cash: -5.39%
• DSCR: 0.76
• GRM: 12.7

CMA / ARV

• ARV (median comp): $1,202,764
• List price: $650,000
• Delta: -45.96%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.26×
• Total profit: $-135,001
• Equity at exit: $96,917

10-year hold

• IRR: -5.9%
• Equity multiple: 0.55×
• Total profit: $-82,772
• Equity at exit: $56,200

Cash invested: $182,000 (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 55331

• Rents YoY: 11.1%
• Active inventory: 244
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $4,253 medium
• Mortgage (P&I): −$3,409
• Tax from tax record: −$497 /mo · $5,964/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$893
• Net cashflow: $-817

Break-even live

Break-even rent $5,287

Max offer price $505,718

Occupancy floor —

Sensitivity live

Price	-10% $-449	-5% $-633	+0% $-817	+5% $-1,001	+10% $-1,185
Rent	-10% $-1,153	-5% $-985	+0% $-817	+5% $-649	+10% $-481
Rate	-1.0pp $-489	-0.5pp $-651	base $-817	+0.5pp $-985	+1.0pp $-1,157

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2740 Orchard Ln Excelsior, MN	2.0	1.5	2000	$2,495	$1.25	12d	1	0.63mi
175 3rd St Excelsior, MN	4.0	4.0	2563	$4,500	$1.76	45d	1	0.80mi
1 West Dr Excelsior, MN	3.0	3.0	1938	$9,375	$4.84	0d	1	0.93mi

Listing history 17 events

1. 2026-05-15
   status Pending 934-char remark
2. 2026-05-06
   status Active 934-char remark
3. 2026-04-24
   listed $650,000 Active 934-char remark
4. 2026-04-21
   historical $650,000 934-char remark
5. 2024-01-22
   soldstatus $536,524
6. 2024-01-12
   soldstatus $536,500 Sold 829-char remark

   Show marketing remark (829 chars)

   This is a gem! Private location on a sweet street of wonderful older homes. Neighbors gather for events several times yearly. Beautifully updated two-story with a vaulted ceiling four season sunroom. Guarantee your spot in top-rated Minnetonka school district. St Theresa & Blake private schools w/busing within 1.5 miles. Great Walkability: 15 minute walk to downtown Excelsior. Even closer to Joey Novas & Hazelwood restaurants. Country Club Lanes too. Four bedrooms on one level. Spacious, light-filled & freshly painted home. Beautiful hardwood floors. Sauna. Large 2 car garage. Two decks & patio. Backyard gently slopes to woods and Badger Park. Mature shade trees, rain garden. Easy access to the Regional Trails, parks & Lake Minnetonka. You can "have it all" with this house and location!

7. 2024-01-03
   status Pending 829-char remark

   Show marketing remark (829 chars)

   This is a gem! Private location on a sweet street of wonderful older homes. Neighbors gather for events several times yearly. Beautifully updated two-story with a vaulted ceiling four season sunroom. Guarantee your spot in top-rated Minnetonka school district. St Theresa & Blake private schools w/busing within 1.5 miles. Great Walkability: 15 minute walk to downtown Excelsior. Even closer to Joey Novas & Hazelwood restaurants. Country Club Lanes too. Four bedrooms on one level. Spacious, light-filled & freshly painted home. Beautiful hardwood floors. Sauna. Large 2 car garage. Two decks & patio. Backyard gently slopes to woods and Badger Park. Mature shade trees, rain garden. Easy access to the Regional Trails, parks & Lake Minnetonka. You can "have it all" with this house and location!

8. 2023-12-13
   historical Contingent - Inspection 829-char remark

   Show marketing remark (829 chars)

   This is a gem! Private location on a sweet street of wonderful older homes. Neighbors gather for events several times yearly. Beautifully updated two-story with a vaulted ceiling four season sunroom. Guarantee your spot in top-rated Minnetonka school district. St Theresa & Blake private schools w/busing within 1.5 miles. Great Walkability: 15 minute walk to downtown Excelsior. Even closer to Joey Novas & Hazelwood restaurants. Country Club Lanes too. Four bedrooms on one level. Spacious, light-filled & freshly painted home. Beautiful hardwood floors. Sauna. Large 2 car garage. Two decks & patio. Backyard gently slopes to woods and Badger Park. Mature shade trees, rain garden. Easy access to the Regional Trails, parks & Lake Minnetonka. You can "have it all" with this house and location!

9. 2023-11-03
   listed $574,900 Active 829-char remark

   Show marketing remark (829 chars)

   This is a gem! Private location on a sweet street of wonderful older homes. Neighbors gather for events several times yearly. Beautifully updated two-story with a vaulted ceiling four season sunroom. Guarantee your spot in top-rated Minnetonka school district. St Theresa & Blake private schools w/busing within 1.5 miles. Great Walkability: 15 minute walk to downtown Excelsior. Even closer to Joey Novas & Hazelwood restaurants. Country Club Lanes too. Four bedrooms on one level. Spacious, light-filled & freshly painted home. Beautiful hardwood floors. Sauna. Large 2 car garage. Two decks & patio. Backyard gently slopes to woods and Badger Park. Mature shade trees, rain garden. Easy access to the Regional Trails, parks & Lake Minnetonka. You can "have it all" with this house and location!

10. 2006-07-14
    soldstatus $342,500
11. 2006-06-09
    soldstatus $342,500

    Show marketing remark (238 chars)

    CHARMING 2 STY W/MANY UPDATES; WINDOWS, DRIVEWAY, FRONT STEPS, GARAGE DOOR. HUGE FAMILY RM W/WOODBURNING STOVE, 4 BRS ON 1 LVL. AMUSEMENT RM IN LOWER LVL. UPDATED KITCHEN, TREED YARD, BACKS TO PARK. GREAT CONDITION & GREAT LOCATION.

12. 2006-05-15
    historical

    Show marketing remark (238 chars)

    CHARMING 2 STY W/MANY UPDATES; WINDOWS, DRIVEWAY, FRONT STEPS, GARAGE DOOR. HUGE FAMILY RM W/WOODBURNING STOVE, 4 BRS ON 1 LVL. AMUSEMENT RM IN LOWER LVL. UPDATED KITCHEN, TREED YARD, BACKS TO PARK. GREAT CONDITION & GREAT LOCATION.

13. 2005-11-16
    listed $349,900

    Show marketing remark (238 chars)

    CHARMING 2 STY W/MANY UPDATES; WINDOWS, DRIVEWAY, FRONT STEPS, GARAGE DOOR. HUGE FAMILY RM W/WOODBURNING STOVE, 4 BRS ON 1 LVL. AMUSEMENT RM IN LOWER LVL. UPDATED KITCHEN, TREED YARD, BACKS TO PARK. GREAT CONDITION & GREAT LOCATION.

14. 2005-11-11
    historical
15. 2005-08-10
    listed $374,500
16. 1986-04-01
    soldstatus $119,000
17. 1984-02-01
    soldstatus $105,000

ⓘ 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: $5,964 · $497/mo
• Projected year-2 tax: $6,622 · $552/mo
• Expected delta: +$658/yr (+$55/mo · 11.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $51,034
• − Mortgage interest: −$36,410
• − Property taxes: −$5,964
• − Insurance: −$3,250
• − Repairs & maintenance: −$4,083
• − Management: −$4,083
• − Depreciation: −$18,909
• Taxable loss: −$21,664
• Est. tax savings @ 24.0%: +$5,199
• After-tax cash flow: $-4,602/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: Minnetonka Public School District
• NCES district ID: 2711670
• Math proficiency: 68% ▼ -11.00%
• Reading proficiency: 74% ▼ -8.00%
• Median HH income: $106,869
• Composite: 65.62/100
• National rank: #464
• State rank: #6 of 301 in MN

Livability — Shorewood

• Score: 67/100
• State rank: #464
• US rank: #11022

Category grades

Amenities F Commute F Cost of living F 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: Shorewood, MN
• County: Hennepin County · 1,150,272 people
• City population: 19,805
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 19,805
• Household income: $159,450
• Rent vs Own: 13.9% rent · 86.1% own
• Severe rent burden: 241.0

Population outlook (Hennepin County) Hauer SSP2

• Today (2025): 1,405,227 people
• By 2030: 1,492,650 · +6.2%
• By 2040: 1,660,157 · +18.1%
• By 2050: 1,823,498 · +29.8%
• By 2075: 2,221,283 · +58.1%
• By 2100: 2,509,976 · +78.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Portuguese 12% Lithuanian 4% Romanian 4%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Hennepin

• 2024 margin: Solid D (+42.6) · D 70.2% · R 27.5% · Other 2.3%
• 2008→2024 swing: +14.0pp toward D · 2008: 28.6pp · 2024: 42.6pp
• All cycles: 2024: D+42.6 2020: D+43.2 2016: D+35.3 2012: D+27.1 2008: D+28.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -543.75%
• Current HPI: 240.3931
• Rent YoY: ▲ 11.14%
• 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

+550.0% since first listed

18 events — show timeline

• 2026-06-12 Sold (MLS) $682,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Listed $650,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-21 Coming Soon $650,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-22 Sold (Public Records) $536,524 Public Records
• 2024-01-12 Sold (MLS) $536,500 NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-12-13 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-11-03 Listed $574,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-07-14 Sold (Public Records) $342,500 Public Records
• 2006-06-09 Sold (MLS) $342,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-05-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-11-16 Listed $349,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-11-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-10 Listed $374,500 NORTHSTARMLS as Distributed by MLS Grid
• 1986-04-01 Sold (Public Records) $119,000 Public Records
• 1984-02-01 Sold (Public Records) $105,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $5,964 · +1.9% YoY. Source: county tax records.