Lake Elmo · Investment Property
Buying Investment Property in Lake Elmo
Buy rental and investment property in Minnesota with the numbers worked out before you make an offer.
Investing in Lake Elmo
Lake Elmo is a different kind of investment from a suburban rental. I'm Lesley, a REALTOR® with Bridge Realty.
What can an investor buy in Lake Elmo? A home in a newer neighborhood, a home on acreage, or land. The city sits between Highway 36 and Interstate 94, close to St. Paul, so compare the price with the rent carefully and decide how long you plan to hold the property.
Three kinds of property
A newer home. Check the association's rental rules first.
A home on acreage. Add well, septic, and land upkeep to your expenses.
Land. Income may come from a farm lease. Ask the city what the land may be used for, now and later. See farmland in Lake Elmo.
Before you offer
Ask the City of Lake Elmo what it requires to rent out a home, including any license, inspection, and fees, before you make an offer. For land, we also confirm zoning, access, and any lease that stays with the property.
The numbers to run on any rental are on our investment property page. For more on the city, see our Lake Elmo page and buying a home in Lake Elmo. If you own a rental here and want to sell, see what it is worth.
We are not financial or tax advisors, so review your plan with your accountant. Then send us a message or call (651) 661-4770.
Frequently Asked Questions
Is land in Lake Elmo a good investment?
It depends on the price, the income it can earn, and your time frame. Review it with your accountant.
Can I rent out a home on acreage?
Usually, subject to city rules. Include well, septic, and land upkeep in your costs.
Homes For Sale In Lake Elmo
See every home on the market in Lake Elmo right now, updated from the MLS.
Lake Elmo
What investment property looks like in Lake Elmo
Lake Elmo is a Washington County city between Highway 36 and Interstate 94 that still looks rural, with the 2,165-acre Lake Elmo Park Reserve at its center.
Lake Elmo keeps much of its farmland and open space, which is why its homes and lots are unlike those in the suburbs around it.
- The homes
- Homes on acreage, some with a private well and septic system, alongside newer neighborhoods with city utilities and associations.
- Getting around
- Interstate 94 along the south edge leads to St. Paul and Minneapolis, and Highway 36 along the north edge leads to Stillwater.
- Nearby
- Lake Elmo Park Reserve, a small historic downtown, and Lake Elmo Airport.
- The trade-off
- Acreage brings a well, a septic system, and more land to maintain.
Investment Property: keep exploring
Ready to make your move with Lesley The Realtor?