5+ Days Ago
Highlights
- Prime location
- Spacious bedrooms
- Shared laundry
- Easy highway access
- Carpet throughout
- One-car garage
Location
Farmington, MN 55024, USA
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Property Overview
720 3rd Street offers excellent value, earning an overall expert rating of 8.6/10 with a perfect 10/10 for price, reflecting a strong balance between cost, location, and amenities. Residents benefit from a prime location with easy highway access, proximity to several top-rated schools within about half a mile, and notable features like spacious bedrooms, carpet throughout, shared laundry, and a one-car garage.
This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.
Things you’ll love
Elementary school nearby- High school nearby
- Less expensive
Floor plans
| 2BR/1.0BA | 2 bed | 1 bath | 800 sqft | $1,375 /mo | 1 unit available | Cozy basement unit with 2 bed, 1 bath. Shared laundry. All utilities included. Large yard in the heart of downtown Farmington. Freshly painted. 1/2 off first months rent if tenant moves in before August 1! What Sets Olson Companies Apart? At Olson Companies, we’re more than just property managers — we’re a small, family-run business that treats every home and tenant with care. Unlike larger firms, we take pride in maintaining beautiful, well-kept properties and providing prompt, personal communication. We’re highly selective with our tenants because we believe in building respectful, long-term relationships based on shared values. If you're looking for a landlord who values quality, integrity, and responsiveness, we’d love to show you what makes our properties feel like home. Schedule a showing with us today! |
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Amenities for 720 3rd Street
Apartment Amenities
| Gas | Utilities Included |
Appliances
| Electric |
Services
| Water Trash |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
Building details
Property details
| Units | 4 |
|---|
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About 720 3rd Street
Cozy basement unit with 2 bed, 1 bath. Shared laundry. All utilities included. Large yard in the heart of downtown Farmington. Freshly painted. 1/2 off first months rent if tenant moves in before August 1! What Sets Olson Companies Apart? At Olson Companies, we’re more than just property managers — we’re a small, family-run business that treats every home and tenant with care. Unlike larger firms, we take pride in maintaining beautiful, well-kept properties and providing prompt, personal communication. We’re highly selective with our tenants because we believe in building respectful, long-term relationships based on shared values. If you're looking for a landlord who values quality, integrity, and responsiveness, we’d love to show you what makes our properties feel like home. Schedule a showing with us today!
Zumper Expert Rating
Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.6
/10
Very GoodWith a solid 8.6 out of 10 overall, 720 3rd Street is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 720 3rd Street has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
720 3rd Street offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·9A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
720 3rd Street goes above and beyond to provide sought-after conveniences and desirable perks, including gas. Renters looking for popular or luxurious features will find them here—and for that reason, 720 3rd Street receives one of the highest amenities scores.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
720 3rd Street is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While 720 3rd Street does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·8A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How 720 3rd Street compares to other nearby properties.
Positives
- Elementary school nearby
- There is an elementary school 0.2 mile away
- High school nearby
- There is a high school 0.3 mile away
- Less expensive
- The 2-bedrooms are cheaper than other similar listings nearby
- Middle school nearby
- There is a middle school 1 mile away
Considerations
- Lacks images
- Fewer than 10 photos available for this location
- No in-unit dishwasher
- Dishwashers aren't available
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Rent trends in Farmington
2-bedroom apartments at 720 3rd Street cost about 25% less than the average rent price for 2-bedroom apartments in Farmington.
Median rents as of Mar 15 2025.
Farmington
| Month | Median Rent |
|---|---|
| March 2025 | $1,400 |
Affordability calculator
Can I afford to live at Farmington?
Bedrooms
2 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$55,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $55,000 annually to afford this 2-bedrooms monthly rent price of $1,375.
For more information on rent affordability, visit our rent calculator.
Schools near 720 3rd Street
Farmington Elementary School
500 maple st
farmington, MN, 55024
PK, K-5Public
C+
196Online Elementary
3455 153rd st w
rosemount, MN, 55068
K-5Public
A
Therapeutic Education Alternative (TEA) School
5800 - 149th st west
apple valley, MN, 55124
PK, K-12Public
917 Dash
1300 145th st
rosemount, MN, 55068
PK, K-12Public
917 Paces
1300 145th st
rosemount, MN, 55068
K-12Public
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Internet available near 720 3rd Street
Neighborhood
Getting around MN 55024 near Farmington
Walking
3/10
Fewer daily needs are within walking distance (unless you’re up for a challenge).
Driving
8/10
This area is close to freeways and has adequate parking options.
Points of interest for Farmington, MN 55024
Groceries
0/10
No grocery stores within walking distance
Shopping
3/10
Some shops within walking distance
Cafes
1/10
Few or no cafés within walking distance
Restaurants
4/10
Some restaurants within walking distance
Primary schools
9/10
At least one elementary school within a 5-minute walk
High schools
4/10
No high schools within a 30-minute walk
Parks
6/10
Moderate amount of park space nearby
Nightlife
4/10
Few or no bars within walking distance
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