18340 Everton Ct · Farmington, MN 55024

$285,000

2 bd · 2.0 ba · 1,536 sqft · SingleFamily public records · 20 Days on market

Built 1977 0.36 ac lot

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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 +12.0/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 BR / 2 BA RAMBLER ON A CUL DE SAC, PRIVATE BACKYARD, FRESH NEW PAINT, NEW ROOF, DECK, 1 CAR GARAGE.

Key facts

• Seamless gutters
• Quiet cul-de-sac
• Private backyard

Tags

• QUIET CUL-DE-SAC
• EAT-IN KITCHEN
• PRIVATE BACKYARD
• SPACIOUS OFFICE
• MAINTENANCE-FREE VINYL SIDING
• SEAMLESS GUTTERS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One story
• Construction: Block foundation
• Exterior features: Vinyl exterior; Deck; Lot approximately 0.358 acres with dimensions 70 x 162 x 115 x 184

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Eat-in kitchen
• Bedrooms: Three bedrooms (one on the main level; other bedrooms on main and lower levels)
• Bathrooms: One full bath on the main floor; One 3/4 bath in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement with egress window(s); Eat-in kitchen; Main floor bedroom
• Laundry & utility: Washer; Dryer (laundry located in basement)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-66 ($-787/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (20.4% below list).
• Recommended offer: $227k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.7% 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.
• 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 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 $9k 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 20 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 32y 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 $226,976 (20.4% 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. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.80% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.9%
• Equity multiple: 0.37×
• Total profit: $-50,391
• Equity at exit: $42,494

10-year hold

• IRR: -10.2%
• Equity multiple: 0.38×
• Total profit: $-49,392
• Equity at exit: $24,642

Cash invested: $79,800 (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: 10.5×

Monthly cashflow live

• Estimated rent: $2,270 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$245 /mo · $2,944/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $-66

Break-even live

Break-even rent $2,353

Max offer price $273,421

Occupancy floor 98%

Sensitivity live

Price	-10% $96	-5% $15	+0% $-66	+5% $-146	+10% $-227
Rent	-10% $-245	-5% $-155	+0% $-66	+5% $24	+10% $114
Rate	-1.0pp $78	-0.5pp $7	base $-66	+0.5pp $-139	+1.0pp $-215

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18388 English Ave Farmington, MN	2.0	2.0	1544	$1,999	$1.29	45d	1	0.36mi
19644 Escalade Way #906 Farmington, MN	2.0	2.0	1500	$1,999	$1.33	45d	1	1.42mi
17079 Dysart Pl Lakeville, MN	3.0	3.0	1894	$2,795	$1.48	12d	1	1.43mi
17074 Dysart Pl Unit 17074 Lakeville, MN	3.0	2.5	1750	$2,800	$1.60	12d	1	1.46mi
17066 Dysart Pl Unit 17066 Lakeville, MN	3.0	2.5	1894	$2,895	$1.53	21d	1	1.48mi
17040 Dysart Pl Unit 17040 Lakeville, MN	3.0	2.5	1700	$2,700	$1.59	0d	1	1.50mi

Listing history 23 events

1. 2026-05-16
   status Active 961-char remark
2. 2026-05-12
   historical Contingent - Inspection 961-char remark
3. 2026-05-06
   listed $285,000 Active 961-char remark
4. 2026-04-29
   soldstatus $220,000
5. 2014-08-21
   soldstatus $145,000 Sold 101-char remark

   Show marketing remark (101 chars)

   3 BR / 2 BA RAMBLER ON A CUL DE SAC, PRIVATE BACKYARD, FRESH NEW PAINT, NEW ROOF, DECK, 1 CAR GARAGE.

6. 2014-08-21
   soldstatus $145,000

   Show marketing remark (101 chars)

   3 BR / 2 BA RAMBLER ON A CUL DE SAC, PRIVATE BACKYARD, FRESH NEW PAINT, NEW ROOF, DECK, 1 CAR GARAGE.

7. 2014-08-21
   soldstatus $145,000

   Show marketing remark (101 chars)

   3 BR / 2 BA RAMBLER ON A CUL DE SAC, PRIVATE BACKYARD, FRESH NEW PAINT, NEW ROOF, DECK, 1 CAR GARAGE.

8. 2014-06-11
   historical Contingent - Inspection 101-char remark

   Show marketing remark (101 chars)

   3 BR / 2 BA RAMBLER ON A CUL DE SAC, PRIVATE BACKYARD, FRESH NEW PAINT, NEW ROOF, DECK, 1 CAR GARAGE.

9. 2014-06-11
   status Pending 101-char remark

   Show marketing remark (101 chars)

   3 BR / 2 BA RAMBLER ON A CUL DE SAC, PRIVATE BACKYARD, FRESH NEW PAINT, NEW ROOF, DECK, 1 CAR GARAGE.

10. 2014-06-11
    price $144,900 101-char remark

    Show marketing remark (101 chars)

    3 BR / 2 BA RAMBLER ON A CUL DE SAC, PRIVATE BACKYARD, FRESH NEW PAINT, NEW ROOF, DECK, 1 CAR GARAGE.

11. 2014-05-09
    price $159,900 101-char remark

    Show marketing remark (101 chars)

    3 BR / 2 BA RAMBLER ON A CUL DE SAC, PRIVATE BACKYARD, FRESH NEW PAINT, NEW ROOF, DECK, 1 CAR GARAGE.

12. 2014-04-02
    listed $169,900 Active 101-char remark

    Show marketing remark (101 chars)

    3 BR / 2 BA RAMBLER ON A CUL DE SAC, PRIVATE BACKYARD, FRESH NEW PAINT, NEW ROOF, DECK, 1 CAR GARAGE.

13. 2014-04-02
    listed $144,900

    Show marketing remark (101 chars)

    3 BR / 2 BA RAMBLER ON A CUL DE SAC, PRIVATE BACKYARD, FRESH NEW PAINT, NEW ROOF, DECK, 1 CAR GARAGE.

14. 2014-04-02
    listed $144,900

    Show marketing remark (101 chars)

    3 BR / 2 BA RAMBLER ON A CUL DE SAC, PRIVATE BACKYARD, FRESH NEW PAINT, NEW ROOF, DECK, 1 CAR GARAGE.

15. 2007-08-20
    soldstatus $186,000
16. 2007-08-08
    soldstatus $186,000
17. 2007-07-19
    historical
18. 2007-07-09
    listed $180,000
19. 1996-05-20
    soldstatus $92,000
20. 1994-11-28
    soldstatus $88,000
21. 1994-11-28
    soldstatus $88,000
22. 1994-10-14
    historical
23. 1994-09-24
    listed $89,900

ⓘ 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: $2,944 · $245/mo
• Projected year-2 tax: $3,068 · $256/mo
• Expected delta: +$124/yr (+$10/mo · 4.2%)

ⓘ 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 · 13 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: $27,237
• − Mortgage interest: −$15,964
• − Property taxes: −$2,944
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,179
• − Management: −$2,179
• − Depreciation: −$8,291
• Taxable loss: −$5,745
• Est. tax savings @ 24.0%: +$1,379
• After-tax cash flow: $592/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

+217.0% since first listed

26 events — show timeline

• 2026-06-16 Sold (MLS) $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-20 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-16 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Listed $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Sold (Public Records) $220,000 Public Records
• 2014-08-21 Sold (MLS) $145,000 RASM
• 2014-08-21 Sold (MLS) $145,000 LSAR
• 2014-08-21 Sold (MLS) $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-11 Price Changed $144,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-09 Price Changed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-02 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-02 Listed $144,900 RASM
• 2014-04-02 Listed $144,900 LSAR
• 2007-08-20 Sold (Public Records) $186,000 Public Records
• 2007-08-08 Sold (MLS) $186,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-07-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-07-09 Listed $180,000 NORTHSTARMLS as Distributed by MLS Grid
• 1996-05-20 Sold (Public Records) $92,000 Public Records
• 1994-11-28 Sold (Public Records) $88,000 Public Records
• 1994-11-28 Sold (MLS) $88,000 NORTHSTARMLS as Distributed by MLS Grid
• 1994-10-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-09-24 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2025): $2,944 · -1.5% YoY. Source: county tax records.