420 1st StreetFarmington, MN 55024
$349,900
4 bedrooms · 2 bathrooms · 1,766 finished sq ft · 0.33 acre lot
About this home
Opportunity Knocks in Downtown Farmington! Whether you’re looking for an owner-occupied property or the next addition to your rental portfolio, this duplex offers plenty of potential. Ideally located in downtown Farmington and situated on a large corner lot, the property provides room to expand and maximize its investment potential. The main-level unit has been updated and is ready to rent. The upper-level unit needs just a few finishing touches before it can be placed on the rental market. Both units feature 2 bedrooms and 1 bathroom, offering a desirable layout for tenants. The basement provides shared laundry facilities and additional storage space. Outside, the property offers a large driveway, a 2-car garage, and an additional shed, providing excellent parking and storage options. The extra space may also offer an opportunity for additional rental income. With its downtown location, spacious lot, multiple storage options, and value-add potential, this property is a great opportunity for an investor or owner occupant. Schedule your showing today and see the possibilities for yourself!
Home facts
- Home type
- Multi-family home
- Style
- Duplex
- Year built
- 1940
- Bedrooms
- 4
- Bathrooms
- 2
- Finished sq ft
- 1,766
- Lot
- 0.33 acres
- Garage
- 2 stalls
- Basement
- Full, Unfinished
- Heating
- Natural Gas, Forced Air
- Property taxes
- $3,968 a year
- Listed
- October 8, 2026
- MLS number
- 7156060
Listing courtesy of Top Notch Properties & Realty Services (Eric A. Ruud). MLS #7156060.
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How it compares
420 1st Street, Farmington, MN 55024 is a 4-bedroom multi-family home built in 1940, listed for $349,900 on October 8, 2026 by Top Notch Properties & Realty Services. That works out to $198 per finished square foot.
Source: Huerkamp Home Group, from the active listings in our communities on November 3, 2026 at 10:01 PM (Central). This is not an appraisal, competitive or comparative market analysis, CMA or home valuation.
The location
- Farmington community guideSchools, commutes, parks, home values and local stories.
- Farmington housing market, September 2026Homes sold for a median $392,000 over 12 months (−2.0%), 58 days on market. Source: Minneapolis Area REALTORS®.
What would the monthly payment be?
— estimated per month
- Principal and interest
- —
- Property taxes
- —
Estimate only, not a loan offer: a 30-year fixed loan at the Freddie Mac weekly average (7.24% on October 29, 2026), the property taxes in the listing. Homeowners insurance and any mortgage insurance aren't included. Your rate depends on your credit and loan.
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