Oakdale · Investment Property
Buying Investment Property in Oakdale
Buy rental and investment property in Minnesota with the numbers worked out before you make an offer.
Investing in Oakdale
Investors ask us about Oakdale because its resale homes sit near three major roads and a transit line. I'm Lesley, a REALTOR® with Bridge Realty.
What should an investor check first in Oakdale? You should check the rules that apply to the property. Townhomes make up about a fifth of Oakdale's housing, and many townhomes have an association. Its documents may cap rentals, require a waiting period, or prohibit renting, and a home you cannot rent does not work as an investment.
Reading the association documents
- The rental rules come first. They say whether renting is allowed and under what limits.
- The dues come out of your rent. You pay them every month, whether or not the home is rented.
- The reserves show the risk of a special bill. Low reserves can mean a large charge to owners.
- The insurance split matters. The documents show what the association covers and what you must carry.
Oakdale costs to plan for
Most Oakdale homes were built between the 1960s and the early 2000s, so we budget for the roof, windows, and furnace on each one. Oakdale has an open hauling system, and every home needs service from a city-licensed hauler. Your lease should say whether you or the tenant arranges that service. You can look up the property tax in Washington County's lookup by parcel number or street address.
The METRO Gold Line has a park-and-ride lot in Oakdale, and Interstate 694, Interstate 94, and Highway 36 run through the area, so we note each home's access to them.
The city and the numbers
We suggest you ask the City of Oakdale what it requires to rent out a home, including any license, inspection, and fees, before you make an offer. For each property, we check that the expected rent covers the mortgage, taxes, insurance, and dues with room for repairs.
The numbers to run on any rental are on our investment property page. You can learn more about the city on our Oakdale page and in buying a home in Oakdale. If you own a rental here and want to sell, you can see what it is worth. Our Stillwater page covers a nearby river city.
We are not financial or tax advisors, so you should review your plan with your accountant. After that, you can send us a message or call (651) 661-4770.
Frequently Asked Questions
Do Oakdale associations allow rentals?
Some do, some limit them, and some do not. We read the documents before you offer.
Who handles trash service at an Oakdale rental?
Every Oakdale home needs service from a city-licensed hauler, and the hauler provides the carts. Your lease can say whether you or your tenant sets it up.
Will the rent cover my costs in Oakdale?
It depends on the price, your down payment, the taxes, and any dues. We run the numbers for each property.
Get your home plan
Tell Us About The Home You Want
Homes For Sale In Oakdale
See every home on the market in Oakdale right now, updated from the MLS.
Oakdale
What investment property looks like in Oakdale
Oakdale is a Washington County suburb on the Interstate 694, Interstate 94, and Highway 36 corridors, with 29 city parks and a METRO Gold Line park-and-ride.
Oakdale is close to Woodbury and Lake Elmo, two communities we work in often, and most of its homes were built from the 1960s to the early 2000s.
- The homes
- Single-family homes make up about half of Oakdale's housing, mostly built between 1960 and 2000, and townhomes about a fifth, mostly built between 1980 and 2000.
- Schools people ask about
- North St. Paul-Maplewood-Oakdale (District 622) serves Oakdale. Confirm the district and schools for any address.
- Getting around
- Interstate 694, Interstate 94, and Highway 36 run through the area, and the METRO Gold Line has a park-and-ride lot in Oakdale.
- Nearby
- 29 city parks, including the Oakdale Nature Preserve and its Discovery Center, plus a boat launch and beach at Tanners Park.
- The trade-off
- Most of Oakdale was built out from the 1980s to the early 2000s, and new home construction has been limited since, so most choices are resale homes.
Investment Property: keep exploring
Ready to make your move with Lesley The Realtor?