4130 Rahn Rd #206 · Eagan, MN 55122

$115,000

2 bd · 1.0 ba · 900 sqft · Condo public records · 91 Days on market

Built 1972 $519/mo HOA · 32% of rent ↓ 4% since listing

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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 +14.5/30.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• DSCR +4.4/10.0
• Livability +4.3/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location in the heart of Eagan. Updates to the unit include a updated kitchen, stainless steel appliances and upgraded flooring. Patio looks out to green space, playground and dog park. Unit showcases a lot of storage for a condo. Live for less then rent.

Key facts

• Ample cabinetry
• Private balcony
• Center island

Tags

• PRIVATE BALCONY
• AMPLE CABINETRY
• CENTER ISLAND
• MIRRORED CLOSET DOORS
• PRIVATE OFF-LEASH DOG PARK
• TENNIS AND BASKETBALL COURTS

Property features AI

Finance

• Other: Association fee listed monthly
• HOA & community: Managed by Cities Management; Monthly HOA fee; HOA amenities: laundry, tennis courts; HOA covers controlled access, hazard insurance, heating, lawn care, grounds maintenance, parking, sewer, shared amenities, snow removal, water

Exterior

• Parking: Parking garage; 1-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential attached property; One story; 900 above-grade finished square feet
• Construction: Other foundation
• Exterior features: Stone exterior; Deck (11 x 5)

Interior

• Kitchen: Kitchen on main level; Stainless steel appliances
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bath (main level)
• Heating & cooling: Baseboard heating; Wall unit cooling
• Interior features: Stainless steel appliances; All living facilities on one level; Main floor full bath
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $25 ($304/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 3.3% in Eagan — 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 86/100 on livability (#13 in MN, #418 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living D+, amenities F.
• Rosemount-Apple Valley-Eagan (suburban): math 50% / reading 58% proficiency, ranked #58 of 301 in MN (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 90 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,134 units permitted in Dakota County in 2024 (898 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Dakota County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.40% ✓
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.84% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.37×
• Total profit: $-20,137
• Equity at exit: $17,147

10-year hold

• IRR: -18.6%
• Equity multiple: 0.14×
• Total profit: $-27,655
• Equity at exit: $9,943

Cash invested: $32,200 (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 55122

• Rents YoY: 0.8%
• Active inventory: 90
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,604 high
• Mortgage (P&I): −$603
• Tax from tax record: −$72 /mo · $866/yr
• Insurance: −$48
• HOA: −$519
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $25

Break-even live

Break-even rent $1,572

Max offer price $115,000

Occupancy floor 93%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4130 Rahn Rd #214 Saint Paul, MN	2.0	1.0	911	$1,350	$1.48	24d	1	0.03mi
4150 Rahn Rd Eagan, MN	1.0–2.0	1.0	762	$1,325	$1.74	2d	6	0.07mi
4110 Rahn Rd #207 Saint Paul, MN	2.0	1.0	911	$1,695	$1.86	24d	1	0.07mi
1950 Jade Ln Saint Paul, MN	1.0–2.0	1.0	806	$1,595	$1.98	2d	4	0.11mi
1946 Glenfield Ct Saint Paul, MN	2.0	1.0	1080	$1,695	$1.57	24d	1	0.13mi
4130 Durham Ct Eagan, MN	2.0	1.0	1076	$1,750	$1.63	24d	1	0.13mi
1811 Trailway Dr Unit 6 St Paul, MN	1.0	1.0	755	$1,349	$1.79	4d	1	0.62mi
3903 Cedar Grove Pkwy Saint Paul, MN	2.0	1.0–2.0	877	$2,806	$3.20	1d	14	0.64mi
1835 Trailway Dr Unit 6 St Paul, MN	1.0	1.0	755	$1,349	$1.79	4d	1	0.64mi
1813 Trailway Dr Saint Paul, MN	1.0–2.0	1.0–1.5	857	$1,609	$1.88	4d	6	0.65mi
1805 Trailway Dr Apt 7 Eagan, MN	2.0	1.5	960	$1,609	$1.68	24d	1	0.70mi
1803 Trailway Dr Apt 6 St Paul, MN	1.0	1.0	755	$1,389	$1.84	17d	1	0.70mi
3800 Ballantrae Rd Eagan, MN	3.0	1.0–2.0	1093	$2,203	$2.02	1d	1	0.74mi
3825 Cedar Grove Pkwy Saint Paul, MN	1.0–3.0	1.0–2.0	1117	$2,040	$1.83	1d	26	0.74mi
4502 Cinnamon Ridge Trl Unit B Saint Paul, MN	2.0	1.0	1020	$1,745	$1.71	24d	1	1.26mi
4598 Slater Rd Eagan, MN	2.0	1.5–2.0	1150	$1,780	$1.55	1d	6	1.42mi

HOA detail condo

• Monthly dues: $519 · $6,228/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $115,000 Active 91 DOM
2. 2026-06-17
   days on market $115,000 Active 90 DOM
3. 2026-06-16
   days on market $115,000 Active 89 DOM
4. 2026-06-15
   days on market $115,000 Active 88 DOM
5. 2026-06-13
   days on market $115,000 Active 86 DOM
6. 2026-06-13
   days on market $115,000 Active 85 DOM
7. 2026-06-09
   days on market $115,000 Active 82 DOM
8. 2026-06-08
   days on market $115,000 Active 81 DOM
9. 2026-06-07
   days on market $115,000 Active 80 DOM
10. 2026-06-04
    days on market $115,000 Active 77 DOM
11. 2026-06-03
    days on market $115,000 Active 76 DOM
12. 2026-06-02
    days on market $115,000 Active 75 DOM
13. 2026-06-01
    days on market $115,000 Active 74 DOM
14. 2026-05-31
    days on market $115,000 Active 73 DOM
15. 2026-04-09
    price $115,000
16. 2026-03-19
    listed $120,000 Active
17. 2021-09-16
    status Pending 265-char remark

    Show marketing remark (265 chars)

    Great location in the heart of Eagan. Updates to the unit include a updated kitchen, stainless steel appliances and upgraded flooring. Patio looks out to green space, playground and dog park. Unit showcases a lot of storage for a condo. Live for less then rent.

18. 2021-09-16
    soldstatus $116,000 Sold 265-char remark

    Show marketing remark (265 chars)

    Great location in the heart of Eagan. Updates to the unit include a updated kitchen, stainless steel appliances and upgraded flooring. Patio looks out to green space, playground and dog park. Unit showcases a lot of storage for a condo. Live for less then rent.

19. 2021-08-05
    listed $121,000 Active 265-char remark

    Show marketing remark (265 chars)

    Great location in the heart of Eagan. Updates to the unit include a updated kitchen, stainless steel appliances and upgraded flooring. Patio looks out to green space, playground and dog park. Unit showcases a lot of storage for a condo. Live for less then rent.

20. 2021-08-02
    historical $121,000 265-char remark

    Show marketing remark (265 chars)

    Great location in the heart of Eagan. Updates to the unit include a updated kitchen, stainless steel appliances and upgraded flooring. Patio looks out to green space, playground and dog park. Unit showcases a lot of storage for a condo. Live for less then rent.

21. 2005-06-22
    historical
22. 2005-04-28
    listed $120,400

ⓘ 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: $866 · $72/mo
• Projected year-2 tax: $1,077 · $90/mo
• Expected delta: +$211/yr (+$18/mo · 24.4%)

ⓘ 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 3/10 Moderate
• 🌡 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,253
• − Mortgage interest: −$6,442
• − Property taxes: −$866
• − Insurance: −$575
• − Repairs & maintenance: −$1,540
• − Management: −$1,540
• − HOA: −$6,228
• − Depreciation: −$3,345
• Taxable loss: −$1,284
• Est. tax savings @ 24.0%: +$308
• After-tax cash flow: $612/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: Rosemount-Apple Valley-Eagan
• NCES district ID: 2732390
• Math proficiency: 50% ▼ -14.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $85,559
• Composite: 49.48/100
• National rank: #2000
• State rank: #58 of 301 in MN

Livability — Eagan

• Score: 86/100
• State rank: #13
• US rank: #418

Category grades

Amenities F Commute A+ Cost of living D+ 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: Eagan, MN
• County: Dakota County · 417,704 people
• City population: 67,960
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 32,261
• Household income: $96,823
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1005.0

Population outlook (Dakota County) Hauer SSP2

• Today (2025): 450,671 people
• By 2030: 465,068 · +3.2%
• By 2040: 486,770 · +8.0%
• By 2050: 498,743 · +10.7%
• By 2075: 533,865 · +18.5%
• By 2100: 550,133 · +22.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 15% Asian 9% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Romanian 3% Iranian 3%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 84% English-only · Other Asian/Pacific 4% Spanish 2% Chinese 1%

Political lean MEDSL · Dakota

• 2024 margin: D (+12.9) · D 55.4% · R 42.5% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 5.5pp · 2024: 12.9pp
• All cycles: 2024: D+12.9 2020: D+13.9 2016: D+4.7 2012: D+2.9 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -230.39%
• Current HPI: 226.6631
• Rent YoY: ▲ 0.84%
• 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

-4.5% since first listed

8 events — show timeline

• 2026-04-09 Price Changed $115,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-19 Listed $120,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-16 Sold (MLS) $116,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-05 Listed $121,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-02 Coming Soon $121,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-04-28 Listed $120,400 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2025): $866 · -15.3% YoY. Source: county tax records.