131 Main St N · Shakopee, MN 55379

$285,000

3 bd · 2.0 ba · 1,325 sqft · SingleFamily public records · 7 Days on market

Built 1890 10,018 sqft lot $215/sqft · 14% above area Est $336k · 15% under

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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 +14.3/15.0
• Cash flow +7.2/30.0
• Schools +4.5/10.0
• Livability +4.5/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS CHARMING STORY AND A HALF NEEDS LOTS of TLC but could be great renovation project. LARGE CORNER LOT, ROOM FOR A GARAGE, BRICK EXTERIOR, STAINED GLASS WINDOW, WOOD FLOORS & BEAUTIFUL WOODWORK INSIDE. POTENTIAL! Needs updates and repairs throughout.

Key facts

• Bonus room above
• Large kitchen
• Corner lot

Tags

• LARGE KITCHEN
• SEPARATE DINING AREA
• COMFORTABLE LIVING ROOM
• CORNER LOT
• DETACHED TWO-CAR GARAGE
• BONUS ROOM ABOVE

Property features AI

Finance

• Other: Above-grade finished area approximately 1,782; Below-grade area approximately 933; Total building area approximately 2,715; Lot dimensions about 92 x 108 (0.23 acres)

Exterior

• Parking: Detached gravel parking area; 2-car garage (approximately 728 sq ft)
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; One-and-a-half story; Entry faces Main Street
• Construction: Brick and stone construction; Stone foundation; Foundation area approximately 933
• Exterior features: Patio; Front porch; Rear porch; Stone, vinyl, and wood exterior; Irregular lot; Road frontage on a city street

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Kitchen window
• Bedrooms: Four bedrooms (three on upper level, one on main level)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom (upper level); One three-quarter bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Hardwood floors; Storage space in basement; Unfinished basement
• Laundry & utility: Washer/dryer hookup; Gas water heater; Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-391 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (24.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (33.8% below list).
• Recommended offer: $189k (33.8% below list) — sets the bar for 1% rule.
• Cap rate 4.6% 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; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $9k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $188,707 (33.8% 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. Built in 1890 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.66% ✗
• Cap rate: 4.65%
• Cash-on-cash: -5.88%
• DSCR: 0.74
• GRM: 12.6

CMA / ARV

• ARV (median comp): $335,669
• List price: $285,000
• Delta: -15.09%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -25.3%
• Equity multiple: 0.13×
• Total profit: $-69,088
• Equity at exit: $42,494

10-year hold

• IRR: -18.8%
• Equity multiple: -0.05×
• Total profit: $-83,876
• Equity at exit: $24,642

Cash invested: $79,800 (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 55379

• Rents YoY: 4.0%
• Active inventory: 461
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,887 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$268 /mo · $3,220/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-391

Break-even live

Break-even rent $2,382

Max offer price $215,951

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 Holmes St S Shakopee, MN	2.0	1.0–2.0	765	$2,117	$2.77	2d	11	0.38mi
609 Market St S Unit 5 Shakopee, MN	2.0	1.0	900	$1,500	$1.67	13d	1	0.44mi
609 Market St S Unit 5 Shakopee, MN	2.0	1.0	900	$1,500	$1.67	5d	1	0.44mi
914 Sommerville St S Shakopee, MN	2.0	1.5	1102	$1,795	$1.63	24d	1	0.74mi
700 Roundhouse St Shakopee, MN	1.0–2.0	1.0	843	$1,600	$1.90	44d	2	0.75mi
1324 Eagle Creek Blvd Shakopee, MN	1.0–3.0	1.0	1050	$2,035	$1.94	2d	8	0.81mi
1224 Shakopee Ave E Shakopee, MN	1.0–2.0	1.0–2.0	884	$1,885	$2.13	5d	4	0.90mi
1427 Shakopee Ave E Apt 2 Shakopee, MN	2.0	1.0	950	$1,400	$1.47	44d	1	0.93mi
935 Alysheba Rd Shakopee, MN	1.0–3.0	1.0–2.0	980	$2,473	$2.52	2d	17	1.49mi

Listing history 11 events

1. 2026-05-18
   historical Contingent - Inspection 662-char remark
2. 2026-05-12
   listed $285,000 Active 662-char remark
3. 2011-04-28
   soldstatus $50,000 256-char remark

   Show marketing remark (256 chars)

   THIS CHARMING STORY AND A HALF NEEDS LOTS of TLC but could be great renovation project. LARGE CORNER LOT, ROOM FOR A GARAGE, BRICK EXTERIOR, STAINED GLASS WINDOW, WOOD FLOORS & BEAUTIFUL WOODWORK INSIDE. POTENTIAL! Needs updates and repairs throughout.

4. 2011-04-27
   historical 256-char remark

   Show marketing remark (256 chars)

   THIS CHARMING STORY AND A HALF NEEDS LOTS of TLC but could be great renovation project. LARGE CORNER LOT, ROOM FOR A GARAGE, BRICK EXTERIOR, STAINED GLASS WINDOW, WOOD FLOORS & BEAUTIFUL WOODWORK INSIDE. POTENTIAL! Needs updates and repairs throughout.

5. 2011-02-28
   listed $55,500 256-char remark

   Show marketing remark (256 chars)

   THIS CHARMING STORY AND A HALF NEEDS LOTS of TLC but could be great renovation project. LARGE CORNER LOT, ROOM FOR A GARAGE, BRICK EXTERIOR, STAINED GLASS WINDOW, WOOD FLOORS & BEAUTIFUL WOODWORK INSIDE. POTENTIAL! Needs updates and repairs throughout.

6. 2001-10-30
   soldstatus $124,000
7. 2001-10-30
   soldstatus $124,000
8. 2001-09-16
   historical
9. 2001-09-14
   listed $119,900
10. 2001-09-01
    historical
11. 2001-06-01
    listed $144,900

ⓘ 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: $3,220 · $268/mo
• Projected year-2 tax: $3,220 · $268/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 2/10 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: $22,645
• − Mortgage interest: −$15,964
• − Property taxes: −$3,220
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,812
• − Management: −$1,812
• − Depreciation: −$8,291
• Taxable loss: −$9,879
• Est. tax savings @ 24.0%: +$2,371
• After-tax cash flow: $-2,320/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

+131.2% since first listed

13 events — show timeline

• 2026-06-11 Sold (MLS) $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-12 Listed $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-04-28 Sold (MLS) $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-04-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-02-28 Listed $55,500 NORTHSTARMLS as Distributed by MLS Grid
• 2001-10-30 Sold (Public Records) $124,000 Public Records
• 2001-10-30 Sold (MLS) $124,000 NORTHSTARMLS as Distributed by MLS Grid
• 2001-09-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-09-14 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2001-09-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-06-01 Listed $144,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2026): $3,220 · +19.0% YoY. Source: county tax records.