5075 198th Street West

Local assessors in Farmington, MN have categorized 5075 198th Street West as a residential type of property. The home was built in 1960 and is 64 years old. It was most recently renovated and altered in 1973. The property's lot size has been calculated to be 80,150 square feet. Now, let's dive a bit deeper into the details surrounding the home on the property. There are 0 rooms in the home. Of these, 4 have been legally categorized as bedrooms. For more details, please view your local government regulations on what counts as a legal bedroom. As for the restroom situation, there are 2 full bathrooms. There are also 3 partial bathrooms. This is a single story home so it's perfect for folks who don't want to have to climb stairs on a daily basis. If we look only at the heated or air conditioned part of the building, then 5075 198th Street West has a total of 2,216 sqft of living area. Note that this number does not include the square footage of the garage, basement, and/or porch into its calculations.

Curious to learn more about the home? Our team of data engineers have sourced the most up-to-date information from the local assessors office to share with you. Additional features on the property are as follows. There is a garage for those who need a place to park their vehicle. The garage on the property is 528 sqft. There are 2 available parking spaces so it's a great situation for those with more than one car. It might sound scary but did you know that buildings can move depending on the weather? Both hot and cold weather can have severe impact on the longevity of your home structure depending on how much your home moves. Hence why architects pay a lot of attention to the type of control joints used in the construction process. Just so you know, this home was built with wood control joints. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Based on our sources, 5075 198th Street West was last sold in Oct 13, 2017 for $424,100. According to our calculations, that's $191.38 per sqft. Prior to that sales transaction, the property was sold for $424,100 in Oct 13, 2017. Current property owners are expected to pay $7,376 in taxes per year. The property on 5075 198th Street West was last assessed in 2022. As a result of that assessment, the total value of the property was placed at $589,200. To break that down further, the land itself was valued at $133,400. While improvements to the property were assessed at a total of $455,800. Based on our records, the total market value for this property has been marked the same as the total assessed value as of this moment. Which is nothing out of the ordinary. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well.This property is not listed for sale at this point in time but RealtyHop is constantly updating our inventory of available sales listings in real time. Don't want to miss out on this property? You can save the listing to your favorites by signing up for a RealtyHop account or you can check back frequently for updates.