13317 Zenith Ln · Eden Prairie, MN 55346

$199,000

2 bd · 1.5 ba · 934 sqft · Condo public records · 1 Days on market

Built 1985 $408/mo HOA · 20% 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).

• Cash flow +10.4/30.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Convenient location. Close to restaurants and shopping. Quite neighborhood. Steps to Willow Park. Sold "AS IS". Quick close possible.

Key facts

• New a/c unit
• New carpet
• New washer and dryer

Tags

• NEW CARPET
• NEW A/C UNIT
• NEW WASHER AND DRYER
• NEW MICROWAVE
• QUIET SETTING
• MATURE TREES

Property features AI

Finance

• HOA & community: HOA managed by First Service Residential; Monthly association fee; HOA covers cable TV, internet, hazard insurance, lawn care, grounds maintenance, professional management and snow removal

Exterior

• Parking: Attached insulated garage with garage door opener; Guest parking available; Asphalt driveway; 1-car garage (22x10)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Attached residential property; Two levels
• Construction: Block construction; Asphalt pitched roof; Slab foundation
• Exterior features: Stone exterior accents; Underground utilities; Tree coverage - medium; Public transit within 6 blocks; City street with curbs, paved streets, sidewalks and street lights; Irregular lot

Interior

• Kitchen: Dishwasher; Disposal; Freezer; Microwave; Range; Refrigerator; Stainless steel appliances; Kitchen window
• Bedrooms: 2 bedrooms (two bedrooms located on the upper level)
• Bathrooms: 1 full bathroom (upper level); 1 half bathroom (main floor)
• Heating & cooling: Forced air heating; Central air conditioning; Gas water heater
• Interior features: Renovated; Walk-in closet; Breakfast area; Kitchen window
• Laundry & utility: Washer and dryer included; Laundry closet on upper level; Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (9.2% below list).
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $181k (9.2% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 2.7% in Eden Prairie — 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 85/100 on livability (#21 in MN, #575 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• Eden Prairie Public School District (urban): math 61% / reading 70% proficiency, ranked #13 of 301 in MN (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Eagle Heights Spanish Immersion (math 62% / reading 75%, grade B+, #91 of 857 statewide, top 11%, 715 students, 9% FRL); Central Middle School (math 55% / reading 69%, grade B+, #19 of 258 statewide, top 8%, 1,909 students, 30% FRL); Eden Prairie Senior High (math 61% / reading 71%, grade B, #24 of 471 statewide, top 5%, 2,833 students, 31% FRL).
• Market conditions: 62 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 4,651 units permitted in Hennepin County in 2024 (2,443 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 $6k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 126y 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 $134k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $180,625 (9.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.02% ✓
• Cap rate: 5.67%
• Cash-on-cash: -2.24%
• DSCR: 0.90
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -19.9%
• Equity multiple: 0.31×
• Total profit: $-38,634
• Equity at exit: $29,672

10-year hold

• IRR: -12.4%
• Equity multiple: 0.26×
• Total profit: $-41,207
• Equity at exit: $17,206

Cash invested: $55,720 (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 55346

• Active inventory: 62
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,035 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$177 /mo · $2,127/yr
• Insurance: −$83
• HOA: −$408
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-104

Break-even live

Break-even rent $2,167

Max offer price $180,625

Occupancy floor —

Sensitivity live

Price	-10% $9	-5% $-48	+0% $-104	+5% $-160	+10% $-217
Rent	-10% $-265	-5% $-184	+0% $-104	+5% $-24	+10% $57
Rate	-1.0pp $-4	-0.5pp $-53	base $-104	+0.5pp $-156	+1.0pp $-208

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13517 Zenith Ln Eden Prairie, MN	2.0	1.5	934	$2,050	$2.19	45d	1	0.07mi
13517 Zenith Ln Unit 13517 Eden Prairie, MN	2.0	1.5	935	$2,000	$2.14	45d	1	0.08mi
13560 Technology Dr #1103 Eden Prairie, MN	1.0	1.0	900	$1,495	$1.66	12d	1	0.47mi
14247 Valley View Rd Eden Prairie, MN	1.0–3.0	1.0–2.0	1003	$1,700	$1.69	4d	11	0.54mi
14301 Martin Dr Eden Prairie, MN	2.0	1.0–2.0	829	$2,180	$2.63	0d	12	0.55mi
12900 Technology Dr Eden Prairie, MN	2.0	1.0–2.0	1143	$3,510	$3.07	0d	6	0.58mi
12300 Singletree Ln Eden Prairie, MN	1.0–2.0	1.0–2.0	1090	$2,419	$2.22	0d	27	0.97mi
14030 Chestnut Dr Eden Prairie, MN	1.0–3.0	1.0–2.0	1072	$1,715	$1.60	0d	18	1.07mi
13905 Chestnut Dr Eden Prairie, MN	1.0–3.0	1.0–2.0	1035	$1,883	$1.82	0d	28	1.10mi
8300 Commonwealth Dr Eden Prairie, MN	2.0	1.0–2.5	1015	$4,517	$4.45	0d	7	1.13mi
14017 Chestnut Dr Eden Prairie, MN	1.0–2.0	1.0	886	$1,499	$1.69	26d	3	1.14mi
8564 Magnolia Trl Eden Prairie, MN	1.0–2.0	1.0–2.0	1177	$2,123	$1.80	0d	41	1.31mi
13000 Garden Ln Eden Prairie, MN	1.0–2.0	1.0–2.0	1050	$2,029	$1.93	1d	15	1.40mi

HOA detail condo

• Monthly dues: $408 · $4,896/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-21
   remarks 699-char remark
2. 2026-06-21
   listed $199,000 Active 1 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: $2,127 · $177/mo
• Projected year-2 tax: $2,178 · $181/mo
• Expected delta: +$51/yr (+$4/mo · 2.4%)

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

Taxation est. · year 1

• Rental income: $24,421
• − Mortgage interest: −$11,147
• − Property taxes: −$2,127
• − Insurance: −$995
• − Repairs & maintenance: −$1,954
• − Management: −$1,954
• − HOA: −$4,896
• − Depreciation: −$5,789
• Taxable loss: −$4,440
• Est. tax savings @ 24.0%: +$1,066
• After-tax cash flow: $-182/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: Eden Prairie Public School District
• NCES district ID: 2714220
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 70% ▼ -3.00%
• Median HH income: $95,212
• Composite: 59.93/100
• National rank: #879
• State rank: #13 of 301 in MN

Livability — Eden Prairie

• Score: 85/100
• State rank: #21
• US rank: #575

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eden Prairie, MN
• City population: 44,463
• Population (ZIP): 18,602

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 (74%)
• Race & ethnicity: White 74% Black 8% Asian 8% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Portuguese 11% Romanian 3% Italian 3%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 80% English-only · Other Asian/Pacific 4% Spanish 3% Other Indo-European 2%

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: ▼ -269.24%
• Current HPI: 230.5792
• Rent YoY: —
• Metro: —
• 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

+42.1% since first listed

7 events — show timeline

• 2026-06-18 Listed $199,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-28 Sold (Public Records) $134,000 Public Records
• 2018-08-27 Sold (MLS) $134,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 1991-08-07 Sold (Public Records) $50,600 Public Records
• 1985-07-01 Sold (Public Records) $57,900 Public Records
• 1900-08-03 Listed $140,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2025): $2,127 · +5.8% YoY. Source: county tax records.