Laura Jewett

Laura Jewett

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Pending

$275,000

($105,163 down)
FHA

701 3rd Street, Farmington, MN 55024

3
2
1,922 sqft
PITI Monthly
$1,481.45 /mo

Listing courtesy of: , Keller Williams Preferred Rlty

Assumed Rate

3.92%
7.15%

Principal & Interest

$937 /mo
$1,338 /mo

What's Special

SHOPPING
ENTERTAINMENT
DINING
SPACIOUS
MOVE-IN READY
DECK
FENCED YARD
CHARMING

Welcome home to this charming Craftsman-style 2-story home nestled in the heart of downtown Farmington. Enjoy leisurely walks to the library, the Dakota County Fairgrounds, and a plethora of shopping and dining options! With 3 bedrooms on the upper level, 2-bathrooms this home boasts a move-in ready interior and awaits your personal touch for its exterior. Features include a welcoming front and back foyer, a beautiful and bright kitchen with a serving window to the formal dining room, main floor laundry with updated washer, dryer and LVP flooring. Additional updates include appliances, light fixtures, water softener, water heater, and A/C. Step outside to the oversized, composite deck with an entertainment bar and enjoy the spacious, privately fenced yard that creates your own secluded oasis! The finished, detached two-car garage includes an enclosed lawn shed perfect for your storage needs. Gravel parking pad north of the garage is perfect for extra space!

... Show more

Assumption Snapshot

Type of Loan
FHA
Interest Rate
3.92
Remaining Loan Term
22 years, 10 months
Monthly PITI
$1,481.45/mo
Estimated Loan Balance
$170,598
Cash to close
$105,163
Interest Paid
$51,873

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms: 3
  • Bathrooms: 2
Cooling & Heating
  • Cooling: Central Air
  • Heating: Forced Air
Features
  • Materials: Cedar
  • Community: Unknown
  • Has Fireplace: No
  • Fireplace Features: Unknown
  • Flooring: Unknown

Exterior

Fencing
  • Fencing: Wood
Roof
  • Roof: Age Over 8 Years
Parking
  • Garage: Yes
  • Garage Spaces: 2
  • Carport: No
  • Carport Spaces:
Water
  • Sewer: City Sewer/Connected
  • Water Source: City Water/Connected
Pool
  • Has Pool: No
  • Pool Features: Unknown

Construction

Type & Style
  • Stories:
  • Home type: Single Family Residence
  • Architectural Style: Unknown
Materials
  • Cedar
  • Roof: Age Over 8 Years
Condition
  • Year Built: 1916
Details
  • Builder:

Community & HOA

Community
  • Subdivision: M Moes Add
  • Features: None
HOA
  • Has HOA: No
Location
  • Region: Farmington

Financial Details

  • Price per Sqft: $143.08
  • Tax Annual Amount: $3050
  • On Market Date: 2025-02-27T00:00:00.000Z
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $105,163 (38%)
You can enter any amount below - secondary financing will cover the difference if needed.
38%
$

You cover the entire equity of $105,163!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage3.92% Sellers Rate
$169,837
Your Cash$105,163
Total Purchase Price:$275,000

Assumed vs Traditional Mortgage

Assumed @ 3.92%
$937/mo
Traditional @ 7.5%
$1,388/mo
You save $451/month ($5,416/year)

*Secondary financing rates are an estimated value based on input

MLS ID: NST6676613

Listing From: northstar

Last updated: 2025-03-03T16:08:03.000Z

© , northstar. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

Assumed Rate

3.92%
7.15%

Principal & Interest

$937 /mo
$1,338 /mo
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $105,163 (38%)
You can enter any amount below - secondary financing will cover the difference if needed.
38%
$

You cover the entire equity of $105,163!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage3.92% Sellers Rate
$169,837
Your Cash$105,163
Total Purchase Price:$275,000

Assumed vs Traditional Mortgage

Assumed @ 3.92%
$937/mo
Traditional @ 7.5%
$1,388/mo
You save $451/month ($5,416/year)

*Secondary financing rates are an estimated value based on input

Follow Us
UMe Assumptions
Agent/Broker
Laura Jewett(480) 628-2563laura@azinspiredliving.comMLS SA525254000

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© Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Listing Service. Real estate listings held by brokerage firms other than are marked with the Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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