Apple Valley · Investment Property
Buying Investment Property in Apple Valley
Buy rental and investment property in Minnesota with the numbers worked out before you make an offer.
Investing in Apple Valley
Apple Valley draws investors who want a rental close to the METRO Red Line. I'm Lesley, a REALTOR® with Bridge Realty.
What should an investor check first in Apple Valley? Check the rules before the rent. The city and any association can each limit how a home is rented, and a home you cannot rent is not an investment. A detached home outside an association avoids association limits, but you carry every exterior repair yourself.
City rules and services
Ask the City of Apple Valley what it requires to rent out a home, including any license, inspection, and fees, before you make an offer.
- Trash service comes from a city-licensed hauler that you or your tenant choose. The city is divided into hauling zones, each with its own collection day.
- Recycling is required in Apple Valley, so the lease should explain how it works.
- Utility bills need a clear owner in the lease, so we ask the seller for recent costs.
Association documents and location
If the property is in an association, its documents may cap rentals, require a waiting period, or prohibit renting. We read the rental rules, the dues, the reserves, and the insurance terms with you. Low reserves can lead to a special bill for owners.
Location matters to tenants too. The Red Line stops at Apple Valley Transit Station, 147th St Station, and 140th St Station, and MVTA runs express buses to Minneapolis and St. Paul. We note the walk or drive to transit for each property.
Running the numbers
For each property, we check that the expected rent covers the mortgage, taxes, insurance, and dues with room for repairs. Dakota County's Property Information Search shows the current tax on any address. Older homes may need updates sooner, so we look at the age of the roof, windows, and mechanicals.
The numbers to run on any rental are on our investment property page. See our Apple Valley page and buying a home in Apple Valley. If you own a rental here and want to sell, see what it is worth. Some investors also compare Bloomington.
We are not financial or tax advisors, so review your plan with your accountant.
You can send us a message or call (651) 661-4770.
Frequently Asked Questions
Does Apple Valley require a rental license?
Ask the city what it requires for a rental, including any license, inspection, and fees. We suggest doing that before you make an offer.
Who arranges trash pickup at an Apple Valley rental?
The owner or tenant chooses a city-licensed hauler, and the pickup day depends on the hauling zone. The lease should say who pays.
Will the rent cover my costs in Apple Valley?
It depends on the price, your down payment, the taxes, and any dues. We run the numbers for each property.
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Homes For Sale In Apple Valley
See every home on the market in Apple Valley right now, updated from the MLS.
Apple Valley
What investment property looks like in Apple Valley
Apple Valley is a Dakota County city along Cedar Avenue, home to the Minnesota Zoo, over 50 neighborhood parks, and three METRO Red Line stations.
Apple Valley is one of the south metro communities where we help buyers and sellers, and we know how its neighborhoods differ in age and setting.
- The homes
- Neighborhoods built from 1955 on. Builder Orrin Thompson, who started here in 1963, planted an apple tree at each home in some of his developments.
- Schools people ask about
- Rosemount-Apple Valley-Eagan Schools (ISD 196) serves most of the city, and Burnsville-Eagan-Savage (ISD 191) serves a small northwestern corner. Confirm the district for any address.
- Getting around
- The METRO Red Line runs along Cedar Avenue to the Mall of America, with three stations in Apple Valley, and MVTA runs express buses to Minneapolis and St. Paul.
- Nearby
- Over 50 neighborhood parks, Valleywood Golf Course, Splash Valley Water Park, and the Minnesota Zoo.
- The trade-off
- Two school districts serve the city and trash pickup days are set by hauling zone, so details change from one address to the next.
The method
How we do it in Apple Valley
Investment Property: keep exploring
Ready to make your move with Lesley The Realtor?