1076 Pine St · Farmington, MN 55024

$254,000

3 bd · 2.0 ba · 1,591 sqft · Townhouse public records · 37 Days on market

Built 2000 1,785 sqft lot $160/sqft · 14% above area Est $249k · at est. $295/mo HOA · 12% of rent

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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).

• Cash flow +14.0/30.0
• ARV discount +6.6/15.0
• 1% rule +4.9/10.0
• Schools +4.4/10.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great 3 bed 2 full bath townhome! This home features an open concept throughout. The upstairs features large living room, kitchen dining and access to the deck and backyard, 2 bedrooms along with a full bathroom. The lower level has a family room, full bathroom, bedroom and laundry. Oversized 2 car garage. close to parks, walking trails, shopping and entertainment.

Key facts

• $295 HOA
• 2 garage spots
• Built 2000

Property features AI

Finance

• HOA & community: HOA managed by Network Management; Monthly HOA fee of $295; HOA covers hazard insurance, lawn care, grounds maintenance, professional management, and snow removal

Exterior

• Parking: Attached 2-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric service with circuit breakers
• Home design: Residential attached property; Split entry (bi-level) design; Facing direction not specified
• Construction: Block construction; Block foundation; Year built not specified
• Exterior features: Stone and vinyl exterior; Deck; Porch; Lot approximately 0.041 acres

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (rooms located on upper and lower levels)
• Bathrooms: 2 full bathrooms (including an upper-level full bath and basement full bath)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement; Vaulted ceilings; Informal dining room; Deck; Porch; Water softener (owned)
• Laundry & utility: Washer; Dryer; Dedicated laundry room (lower level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $254k.

Deal economics

• At list price, monthly cash flow is $35 ($414/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (0.6% below list).
• Recommended offer: $246k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 3.8% in Farmington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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.
• Market conditions: 325 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $8k 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

• It's been on market 37 days — a 3% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $246,380 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 8.4

CMA / ARV

• ARV (median comp): $248,882
• List price: $254,000
• Delta: 2.06%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1204 Prairie View Trl	0.11mi	3/2.0	1,404 (-12%)	15mo	$231,800	$165	63

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -15.3%
• Equity multiple: 0.45×
• Total profit: $-38,796
• Equity at exit: $37,872

10-year hold

• IRR: -6.6%
• Equity multiple: 0.57×
• Total profit: $-30,284
• Equity at exit: $21,961

Cash invested: $71,120 (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: 8.4×

Monthly cashflow live

• Estimated rent: $2,525 medium
• Mortgage (P&I): −$1,332
• Tax from tax record: −$228 /mo · $2,732/yr
• Insurance: −$106
• HOA: −$295
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $35

Break-even live

Break-even rent $2,482

Max offer price $254,000

Occupancy floor 94%

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: $63,500
• Closing costs: $7,620
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 13th St Farmington, MN	3.0	2.0	1600	$2,495	$1.56	1d	1	0.37mi
310 3rd St Farmington, MN	1.0–2.0	1.0–2.0	956	$2,400	$2.51	1d	1	0.69mi
20515 Chippendale Ave W Farmington, MN	4.0	1.5	1750	$2,300	$1.31	43d	1	0.74mi

HOA detail

• Monthly dues: $295 · $3,540/yr

Listing history 24 events

1. 2026-06-07
   statusdays on market $254,000 Pending 37 DOM
2. 2026-06-04
   days on market $254,000 Contingent - Inspection 36 DOM
3. 2026-06-03
   days on market $254,000 Contingent - Inspection 35 DOM
4. 2026-06-02
   days on market $254,000 Contingent - Inspection 34 DOM
5. 2026-06-01
   days on market $254,000 Contingent - Inspection 33 DOM
6. 2026-05-31
   days on market $254,000 Contingent - Inspection 32 DOM
7. 2026-05-06
   historical Contingent - Inspection
8. 2026-04-30
   listed $254,000 Active
9. 2026-04-28
   historical $254,000
10. 2021-10-05
    soldstatus $220,203
11. 2021-09-24
    soldstatus $219,900 Sold 367-char remark

    Show marketing remark (367 chars)

    Great 3 bed 2 full bath townhome! This home features an open concept throughout. The upstairs features large living room, kitchen dining and access to the deck and backyard, 2 bedrooms along with a full bathroom. The lower level has a family room, full bathroom, bedroom and laundry. Oversized 2 car garage. close to parks, walking trails, shopping and entertainment.

12. 2021-08-23
    status Pending 367-char remark

    Show marketing remark (367 chars)

    Great 3 bed 2 full bath townhome! This home features an open concept throughout. The upstairs features large living room, kitchen dining and access to the deck and backyard, 2 bedrooms along with a full bathroom. The lower level has a family room, full bathroom, bedroom and laundry. Oversized 2 car garage. close to parks, walking trails, shopping and entertainment.

13. 2021-08-12
    listed $219,900 Active 367-char remark

    Show marketing remark (367 chars)

    Great 3 bed 2 full bath townhome! This home features an open concept throughout. The upstairs features large living room, kitchen dining and access to the deck and backyard, 2 bedrooms along with a full bathroom. The lower level has a family room, full bathroom, bedroom and laundry. Oversized 2 car garage. close to parks, walking trails, shopping and entertainment.

14. 2018-09-24
    soldstatus $182,400
15. 2018-08-20
    soldstatus $182,400 Sold

    Show marketing remark (212 chars)

    Looking for a spacious and clean townhouse, this is the one! Great layout with 3 bedrooms plus 2 full baths, open floorplan, vaulted ceilings, sweet deck & nice yard. You won't want to miss out on this one!

16. 2018-08-03
    status Pending

    Show marketing remark (212 chars)

    Looking for a spacious and clean townhouse, this is the one! Great layout with 3 bedrooms plus 2 full baths, open floorplan, vaulted ceilings, sweet deck & nice yard. You won't want to miss out on this one!

17. 2018-07-20
    historical Contingent - Inspection

    Show marketing remark (212 chars)

    Looking for a spacious and clean townhouse, this is the one! Great layout with 3 bedrooms plus 2 full baths, open floorplan, vaulted ceilings, sweet deck & nice yard. You won't want to miss out on this one!

18. 2018-07-19
    listed $179,900 Active

    Show marketing remark (212 chars)

    Looking for a spacious and clean townhouse, this is the one! Great layout with 3 bedrooms plus 2 full baths, open floorplan, vaulted ceilings, sweet deck & nice yard. You won't want to miss out on this one!

19. 2015-10-30
    soldstatus $140,000
20. 2015-10-29
    soldstatus $140,000 Sold
21. 2015-10-06
    status Pending
22. 2015-09-28
    historical Contingent - Inspection
23. 2015-09-24
    listed $143,500 Active
24. 2005-06-09
    soldstatus $180,251

ⓘ 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: $2,732 · $228/mo
• Projected year-2 tax: $2,788 · $232/mo
• Expected delta: +$56/yr (+$5/mo · 2.1%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,304
• − Mortgage interest: −$14,228
• − Property taxes: −$2,732
• − Insurance: −$1,270
• − Repairs & maintenance: −$2,424
• − Management: −$2,424
• − HOA: −$3,540
• − Depreciation: −$7,389
• Taxable loss: −$3,704
• Est. tax savings @ 24.0%: +$889
• After-tax cash flow: $1,303/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

+45.4% since first listed

20 events — show timeline

• 2026-06-15 Sold (MLS) $262,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Listed $254,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-28 Coming Soon $254,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-10-05 Sold (Public Records) $220,203 Public Records
• 2021-09-24 Sold (MLS) $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-12 Listed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-09-24 Sold (Public Records) $182,400 Public Records
• 2018-08-20 Sold (MLS) $182,400 NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-20 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-19 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-30 Sold (Public Records) $140,000 Public Records
• 2015-10-29 Sold (MLS) $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-06 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-28 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-24 Listed $143,500 NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-09 Sold (Public Records) $180,251 Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,732 · +3.7% YoY. Source: county tax records.