19382 Euclid Path · Farmington, MN 55024

$385,000

3 bd · 2.0 ba · 2,103 sqft · SingleFamily public records · 4 Days on market

Built 1991 0.34 ac lot $183/sqft · 12% below area Est $466k · 17% under

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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).

• ARV discount +15.0/15.0
• Cash flow +6.8/30.0
• Schools +4.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 19382 Euclid Path. Originally owned and loved, this home is available for the first time in over 30 years. Tucked into a mature, tree lined neighborhood just steps from Fair Hills Park and close to Akin Road Elementary, this well loved split level home offers over 2,200 square feet of versatile living space, a 3 car garage, and a newer backyard deck that feels like your own private retreat. From the moment you pull up, the canopy of mature trees set a welcoming tone. Out back, the newer deck with a modern wood and steel railing overlooks a spacious, green yard surrounded by towering evergreens and ornamental trees, a genuinely peaceful place to start or end your day. The deck was

Key facts

• 0.34 acre lot
• 3 garage spots
• Built 1991

Property features AI

Exterior

• Parking: Attached garage with 3 parking spaces (garage approx. 28'3" x 20'1")
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers
• Home design: Residential split-entry (bi-level) home; Above-grade finished and living area provided; Below-grade finished area and basement
• Construction: Block foundation; Roof over 8 years old
• Exterior features: Deck; Medium tree coverage

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Stainless steel appliances; Gas water heater
• Bedrooms: 4 bedrooms (bedrooms located on upper and lower levels)
• Bathrooms: 2 full bathrooms (including an ensuite and a main-floor full bath; primary walk-thru configuration)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Primary bedroom suite; Finished basement with egress window(s) and storage space; Gas stone fireplace; Informal dining area
• Laundry & utility: Laundry room on lower level; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $385k.

Deal economics

• At list price, monthly cash flow is $-594 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (27.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (35.7% below list).
• Recommended offer: $247k (35.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#203 in MN, #4,269 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Farmington Public School District (suburban): math 43% / reading 52% proficiency, ranked #104 of 301 in MN (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Meadowview Elementary (math 60% / reading 58%, grade B-, #247 of 857 statewide, top 29%, 627 students, 31% FRL); Robert Boeckman Middle School (math 41% / reading 51%, grade D+, #103 of 258 statewide, top 40%, 878 students, 25% FRL); Farmington High School (math 32% / reading 56%, grade F, #210 of 471 statewide, top 44%, 2,201 students, 22% FRL).
• Market conditions: 325 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 $3k of loan paydown is wiped out by about $12k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $92k; list at $385k implies a 318% gain — meaningful room to come down on a strong offer.

Recommended offer $247,416 (35.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.64% ✗
• Cap rate: 4.44%
• Cash-on-cash: -6.62%
• DSCR: 0.71
• GRM: 13.0

CMA / ARV

• ARV (median comp): $465,555
• List price: $385,000
• Delta: -17.30%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -27.8%
• Equity multiple: 0.07×
• Total profit: $-100,280
• Equity at exit: $57,405

10-year hold

• IRR: -26.3%
• Equity multiple: -0.26×
• Total profit: $-136,204
• Equity at exit: $33,288

Cash invested: $107,800 (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 55024

• Home prices YoY: -31.2%
• Active inventory: 325
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,474 medium
• Mortgage (P&I): −$2,019
• Tax from tax record: −$370 /mo · $4,436/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $-594

Break-even live

Break-even rent $3,227

Max offer price $279,983

Occupancy floor —

Sensitivity live

Price	-10% $-377	-5% $-486	+0% $-594	+5% $-703	+10% $-812
Rent	-10% $-790	-5% $-692	+0% $-594	+5% $-497	+10% $-399
Rate	-1.0pp $-401	-0.5pp $-497	base $-594	+0.5pp $-694	+1.0pp $-796

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19644 Escalade Way #906 Farmington, MN	2.0	2.0	1500	$1,999	$1.33	45d	1	0.31mi
19385 Elkridge Trl Farmington, MN	4.0	2.5	2500	$3,099	$1.24	25d	1	0.58mi
18388 English Ave Farmington, MN	2.0	2.0	1544	$1,999	$1.29	45d	1	1.04mi

Listing history 3 events

1. 2026-05-15
   listed $374,999 Active 2819-char remark
2. 2026-05-13
   historical $374,999 2819-char remark
3. 1992-05-22
   soldstatus $92,050

ⓘ 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: $4,436 · $370/mo
• Projected year-2 tax: $4,436 · $370/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 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: $29,690
• − Mortgage interest: −$21,566
• − Property taxes: −$4,436
• − Insurance: −$1,925
• − Repairs & maintenance: −$2,375
• − Management: −$2,375
• − Depreciation: −$11,200
• Taxable loss: −$14,187
• Est. tax savings @ 24.0%: +$3,405
• After-tax cash flow: $-3,729/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: Farmington Public School District
• NCES district ID: 2711820
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $83,959
• Composite: 43.93/100
• National rank: #2905
• State rank: #104 of 301 in MN

Livability — Farmington

• Score: 75/100
• State rank: #203
• US rank: #4269

Category grades

Amenities F Commute F Cost of living C Crime A+ Employment A+ Housing A+ Health & safety C User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmington, MN
• County: Dakota County · 417,704 people
• City population: 37,287
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 37,287
• Household income: $127,280
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 288.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 6% Two or more races 4% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 14% Scottish 3% Romanian 3%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -102.47%
• Current HPI: 225.6882
• Rent YoY: —
• 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

+318.3% since first listed

5 events — show timeline

• 2026-05-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-19 Price Changed $385,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Listed $374,999 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Coming Soon $374,999 NORTHSTARMLS as Distributed by MLS Grid
• 1992-05-22 Sold (Public Records) $92,050 Public Records

Property tax history

+3.4%/yr

Latest (2025): $4,436 · -0.6% YoY. Source: county tax records.