710 West Village Rd #104 · Chanhassen, MN 55317

$185,000

2 bd · 1.0 ba · 920 sqft · Condo public records · 27 Days on market

Built 1988 $341/mo HOA · 18% 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 +11.2/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• 1% rule +5.1/10.0
• Livability +4.1/5.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced to sell Townhome 2 bedroom 1 bath 1 car detached garage.

Key facts

• $341 HOA
• Garage
• Built 1988

Property features AI

Finance

• Financial info: Property listed free and clear
• HOA & community: Part of the Gassen association; Monthly association fee (covers lawn care, professional management, and snow removal)

Exterior

• Parking: Asphalt parking lot with guest parking; Garage with automatic door opener (1-car, approximately 10x20)
• Utilities: City water connected; City sewer connected; Electric service with circuit breakers; Electric fuel
• Home design: Attached residential property; Two levels
• Construction: Frame construction; Block and slab foundation; Foundation dimensions approximately 23x20
• Exterior features: Stone exterior accents; Public transit within six blocks; Association-maintained road

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms (both on the upper level)
• Bathrooms: 1 full bathroom (upper level)
• Heating & cooling: Baseboard heating; Wall-mounted cooling units
• Interior features: Ceiling fans; Local area network; Open informal dining area connected to the kitchen; Main floor laundry closet
• Laundry & utility: Laundry closet on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-71 ($-853/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (6.8% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $172k (6.8% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 2.5% in Chanhassen — 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 82/100 on livability (#34 in MN, #1,049 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• Eastern Carver County Public School (suburban): math 52% / reading 61% proficiency, ranked #41 of 301 in MN (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: La Academia (math 47% / reading 52%, grade D, #423 of 857 statewide, top 55%, 449 students, 32% FRL); Pioneer Ridge Middle School (math 32% / reading 57%, grade D, #118 of 258 statewide, top 48%, 496 students, 22% FRL); Chanhassen High School (math 52% / reading 68%, grade C+, #44 of 471 statewide, top 9%, 1,370 students, 16% FRL).
• Market conditions: 150 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 682 units permitted in Carver County in 2024 (6 in 5+ unit buildings).
• This rent is only 16% of the median local income ($140k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• Carver County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $185k implies a 241% gain — meaningful room to come down on a strong offer.

Recommended offer $172,439 (6.8% 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: 1.01% ✓
• Cap rate: 5.83%
• Cash-on-cash: -1.65%
• DSCR: 0.93
• GRM: 8.2

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: -18.9%
• Equity multiple: 0.34×
• Total profit: $-34,312
• Equity at exit: $27,584

10-year hold

• IRR: -11.1%
• Equity multiple: 0.33×
• Total profit: $-34,920
• Equity at exit: $15,995

Cash invested: $51,800 (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 55317

• Active inventory: 150
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,870 high
• Mortgage (P&I): −$970
• Tax from tax record: −$160 /mo · $1,926/yr
• Insurance: −$77
• HOA: −$341
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-71

Break-even live

Break-even rent $1,960

Max offer price $172,439

Occupancy floor 99%

Sensitivity live

Price	-10% $34	-5% $-19	+0% $-71	+5% $-123	+10% $-176
Rent	-10% $-219	-5% $-145	+0% $-71	+5% $3	+10% $77
Rate	-1.0pp $22	-0.5pp $-24	base $-71	+0.5pp $-119	+1.0pp $-168

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
541 W 78th St Chanhassen, MN	1.0–3.0	1.0–2.0	1035	$2,295	$2.22	0d	14	0.43mi
425 Chan Vw Chanhassen, MN	1.0–2.0	1.0–2.0	930	$1,980	$2.13	0d	3	0.44mi
420 Chan Vw Unit 2102 Chanhassen, MN	2.0	1.0	900	$1,350	$1.50	23d	1	0.47mi
420 Chan Vw Unit 8304 Chanhassen, MN	2.0	1.0	900	$1,350	$1.50	26d	1	0.47mi
7721 Chanhassen Rd Ste A Chanhassen, MN	2.0	1.0	954	$1,435	$1.50	21d	1	0.88mi
8260 Market Blvd Chanhassen, MN	1.0–2.0	1.0–2.0	987	$2,095	$2.12	5d	14	0.92mi

HOA detail condo

• Monthly dues: $341 · $4,092/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-16
   status Pending
2. 2026-05-01
   price $185,000
3. 2026-04-23
   price $190,000
4. 2026-04-19
   listed $195,000 Active
5. 2012-06-05
   soldstatus $54,199 64-char remark

   Show marketing remark (64 chars)

   Priced to sell Townhome 2 bedroom 1 bath 1 car detached garage.

6. 2011-04-21
   historical 64-char remark

   Show marketing remark (64 chars)

   Priced to sell Townhome 2 bedroom 1 bath 1 car detached garage.

7. 2011-03-16
   listed $57,000 64-char remark

   Show marketing remark (64 chars)

   Priced to sell Townhome 2 bedroom 1 bath 1 car detached garage.

ⓘ 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: $1,926 · $160/mo
• Projected year-2 tax: $1,999 · $167/mo
• Expected delta: +$73/yr (+$6/mo · 3.8%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,445
• − Mortgage interest: −$10,363
• − Property taxes: −$1,926
• − Insurance: −$925
• − Repairs & maintenance: −$1,796
• − Management: −$1,796
• − HOA: −$4,092
• − Depreciation: −$5,382
• Taxable loss: −$3,834
• Est. tax savings @ 24.0%: +$920
• After-tax cash flow: $67/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: Eastern Carver County Public School
• NCES district ID: 2708190
• Math proficiency: 52% ▼ -9.00%
• Reading proficiency: 61% ▼ -6.00%
• Median HH income: $87,010
• Composite: 51.68/100
• National rank: #1694
• State rank: #41 of 301 in MN

Livability — Chanhassen

• Score: 82/100
• State rank: #34
• US rank: #1049

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: Chanhassen, MN
• County: Carver County · 77,775 people
• City population: 22,299
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 22,299
• Household income: $140,385
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 377.0

Population outlook (Carver County) Hauer SSP2

• Today (2025): 115,077 people
• By 2030: 122,880 · +6.8%
• By 2040: 137,210 · +19.2%
• By 2050: 148,524 · +29.1%
• By 2075: 174,624 · +51.7%
• By 2100: 185,806 · +61.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Asian 7% Two or more races 6% Hispanic / Latino 4% Black 2%
• Common ancestry: Portuguese 13% Romanian 5% Italian 3%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 90% English-only · Other Asian/Pacific 3% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Carver

• 2024 margin: Lean R (+5.4) · D 46.3% · R 51.7% · Other 2.0%
• 2008→2024 swing: +9.7pp toward D · 2008: -15.1pp · 2024: -5.4pp
• All cycles: 2024: R+5.4 2020: R+4.9 2016: R+13.7 2012: R+19.7 2008: R+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -128.03%
• Current HPI: 197.5979
• Rent YoY: —
• 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

+224.6% since first listed

7 events — show timeline

• 2026-05-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $190,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-19 Listed $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-06-05 Sold (MLS) $54,199 NORTHSTARMLS as Distributed by MLS Grid
• 2011-04-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-03-16 Listed $57,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2025): $1,926 · +0.6% YoY. Source: county tax records.