parcel mullet
n. A lawn that is short and well-maintained in the front of a house, but overgrown and wild in the back.
Anyway, be on the lookout for "parcel mullets" as you peruse our Delray/Boynton neighborhoods and please share any findings…lol.
—Peggy Moran Draper, “A New and Funny Real Estate Term,” Delray Beach Real Estate, August 12, 2013
Apparently, a parcel mullet is a house with a mowed, manicured front lawn but a wild, unkempt yard in the back — reminiscent of the unlamented mullet hairstyle, which is short at the front and sides of the head, and ickily long in the back.
—Mary Umberger, “Real estate batty season in full swing,” Chicago Tribune, August 09, 2013
2012 (earliest)
A "parcel mullet" refers to the phenomenon of having a well manicured short lawn in the front yard, but a wild long yard in the back. Or in laymen’s terms, business lawn in front, party lawn in the back.
—Ryan Lundquist, “Parcel Mullet: real estate word of the day,” Sacramento Appraisal Blog, April 10, 2012
If you're not sure what a mullet is, see the mullet strategy entry. Actually, on second thought, not knowing what a "mullet" is would be considered by some a good thing, so reveling in this tiny bit of ignorance is also an option.

Note, as well, that the "parcel" portion of this term is real estate jargon for a piece of land. A less formal alternative is lawn mullet, which was a finalist in the Most Creative category of the American Dialect Society's 2004 Word of the Year festivities.