Eagan · Investment Property
Buying Investment Property in Eagan
Buy rental and investment property in Minnesota with the numbers worked out before you make an offer.
Investing in Eagan
Eagan has nearly 30,000 housing units, and investors look at many kinds of property here. I'm Lesley, a REALTOR® with Bridge Realty.
What should an investor check first in Eagan? 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 Eagan what it requires to rent out a home, including any license, inspection, and fees, before you make an offer.
- Trash service does not come from the city. Someone must hire a city-licensed hauler, and each licensed hauler must offer curbside recycling.
- Water and sewer come from the city, so the lease should say who pays that bill.
- Electricity and gas come from different companies depending on the location, so we ask for recent utility 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. MVTA express buses leave from the Eagan Transit Station on Pilot Knob Road, and the Cedar Grove Transit Station connects to the METRO Red Line. Interstates 35E and 494 both run through the city. We note transit and drive times for each property, since they shape what tenants will pay. We also check the drive from each home to the airport and to downtown St. Paul and Minneapolis.
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.
The numbers to run on any rental are on our investment property page. See our Eagan page and buying a home in Eagan. 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 Eagan 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 Eagan rental?
The city does not provide garbage service, so the owner or tenant hires a city-licensed hauler. The lease should say who pays.
Will the rent cover my costs in Eagan?
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 Eagan
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Eagan
What investment property looks like in Eagan
Eagan is the second-largest city in Dakota County, south of and an equal distance from downtown Minneapolis and St. Paul, with more than 1,300 acres of parkland.
Eagan is one of the south metro communities where we help buyers and sellers, and we know how its neighborhoods differ in age, schools, and commute.
- The homes
- A wide variety of housing, nearly 30,000 units in all. Much of the city was built as it grew from about 20,700 people in 1980 to about 63,600 in 2000.
- Schools people ask about
- Three school districts serve different parts of the city: Rosemount-Apple Valley-Eagan (ISD 196), West St. Paul-Mendota Heights-Eagan (ISD 197), and Burnsville-Eagan-Savage (ISD 191). Confirm the district for any address.
- Getting around
- Interstates 35E and 494 and Highways 13, 55, 77 (Cedar Avenue), and 149 all run through the city, and the airport is just across the Minnesota River.
- Nearby
- More than 1,300 acres of city parkland, more than 150 miles of trails and sidewalks, and Lebanon Hills Regional Park, Dakota County's largest park.
- The trade-off
- Three school districts and several highways cross the city, so where a home sits changes both its schools and its drive.
Investment Property: keep exploring
Ready to make your move with Lesley The Realtor?