595 Tamarack Trl #1301 · Farmington, MN 55024

$215,000

2 bd · 2.0 ba · 1,609 sqft · Townhouse public records · 53 Days on market

Built 2001 Est $265k · 19% under $410/mo HOA · 18% 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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• 1% rule +5.7/10.0
• Schools +4.4/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

From the moment you walk in, the space feels open, bright, and easy to settle into—this two-story end-unit townhome is designed for low-maintenance living without compromise. The main level offers an open layout with a comfortable living room anchored by a fireplace, and a spacious kitchen featuring a breakfast bar for casual dining and a walk-in pantry that keeps everything organized and out of sight. A convenient half bath adds everyday practicality. Upstairs, both bedrooms are thoughtfully separated from the main living space, along with a versatile loft and dedicated laundry room. The primary bedroom stands out with a large walk-in closet complete with built-in shelving for effici

Key facts

• $410 HOA
• 2 garage spots
• Built 2001

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $215k.

Deal economics

• At list price, monthly cash flow is $-35 ($-422/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (2.9% below list).
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.1% 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; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $6k 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 53 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $45k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $208,550 (3.0% 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. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.07% ✓
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $265,485
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1204 Prairie View Trl	0.48mi	3/2.0 (+1)	1,404 (-13%)	15mo	$231,800	$165	38

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-36,816
• Equity at exit: $32,057

10-year hold

• IRR: -9.0%
• Equity multiple: 0.44×
• Total profit: $-33,874
• Equity at exit: $18,589

Cash invested: $60,200 (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: 7.8×

Monthly cashflow live

• Estimated rent: $2,307 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$231 /mo · $2,770/yr
• Insurance: −$90
• HOA: −$410
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-35

Break-even live

Break-even rent $2,352

Max offer price $208,785

Occupancy floor 97%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.82mi
310 3rd St Farmington, MN	1.0–2.0	1.0–2.0	956	$2,400	$2.51	1d	1	0.96mi

HOA detail

• Monthly dues: $410 · $4,920/yr

Listing history 26 events

1. 2026-06-07
   statusdays on market $215,000 Pending 53 DOM
2. 2026-05-14
   price $215,000
3. 2026-05-07
   price $220,000
4. 2026-04-30
   price $225,000
5. 2026-04-24
   price $230,000
6. 2026-04-17
   price $235,000
7. 2026-04-15
   soldstatus $200,000
8. 2026-04-09
   price $240,000
9. 2026-04-02
   price $250,000
10. 2026-03-27
    listed $260,000 Active
11. 2026-03-26
    historical
12. 2025-01-20
    historical
13. 2025-01-06
    price $247,000
14. 2024-11-16
    price $250,000
15. 2024-10-29
    price $260,000
16. 2024-10-18
    listed $265,000 Active
17. 2024-10-10
    historical
18. 2024-10-01
    price $250,000
19. 2024-09-26
    price $260,000
20. 2024-09-13
    listed $270,000 Active
21. 2024-09-12
    historical
22. 2019-09-16
    soldstatus $200,500
23. 2019-08-30
    soldstatus $200,500 Sold
24. 2019-07-30
    historical Contingent - Inspection
25. 2019-07-22
    price $194,900
26. 2019-06-27
    listed $199,900 Active

ⓘ 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: $2,770 · $231/mo
• Projected year-2 tax: $2,770 · $231/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,687
• − Mortgage interest: −$12,043
• − Property taxes: −$2,770
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,215
• − Management: −$2,215
• − HOA: −$4,920
• − Depreciation: −$6,255
• Taxable loss: −$3,806
• Est. tax savings @ 24.0%: +$913
• After-tax cash flow: $491/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

+7.6% since first listed

25 events — show timeline

• 2026-05-14 Price Changed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Price Changed $220,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Price Changed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Price Changed $230,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $235,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-15 Sold (Public Records) $200,000 Public Records
• 2026-04-09 Price Changed $240,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-27 Listed $260,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-26 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-06 Price Changed $247,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-11-16 Price Changed $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-29 Price Changed $260,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-18 Listed $265,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-01 Price Changed $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-26 Price Changed $260,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-13 Listed $270,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-12 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2019-09-16 Sold (Public Records) $200,500 Public Records
• 2019-08-30 Sold (MLS) $200,500 NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-30 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-22 Price Changed $194,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-27 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2025): $2,770 · +4.8% YoY. Source: county tax records.