Triplex with Attached
For Sale
Under Contract
$475,000
6193 49th Street N, Oakdale, MN 55128
Residential Income, Oakdale, MN
Property Size2,804 SF
Lot Size0.36 Acres
Price / SF$169.40
Days on Market22
Property Features for 6193 49th Street N
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 5, Bathroom 1, Basement, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 6
Parking features
Driveway, Garage - Detached, Other, Garage - Attached
Patio and Porch features
Patio, Deck
Lot features
Tree Coverage - Light
High school district
North St Paul-Maplewood
Directions
Hwy 36 to 120, S to Georgia Blvd N, E to Gershwin, S to 49th, E to Property.
Standard status
Active Under Contract
APN
0702921220021
Size
2,804 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4478
Utilities
Heating system
Forced Air
Building Details
Year built
1958
Roof type
Shingle
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Adam Tafel
(612) 600-6000
Added: Sep 10
Changed: Oct 1
Last Checked: Oct 1 at 2:06PM
MLS# 7142187
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1958, this 2,804-square-foot triplex on 0.362 acres combines three residential units in a single property. The primary unit includes three bedrooms and access to a two-car attached garage, while the other units offer two bedrooms and one bedroom, respectively. Both secondary units have walkout access to the backyard.
The property also includes a detached rear garage, driveway parking, a patio, and a deck. Forced-air heating and a shingle roof serve the improvements. Located in Oakdale, Minnesota, the asset offers a varied unit mix with additional garage and outdoor-space features.
The property also includes a detached rear garage, driveway parking, a patio, and a deck. Forced-air heating and a shingle roof serve the improvements. Located in Oakdale, Minnesota, the asset offers a varied unit mix with additional garage and outdoor-space features.
Key Highlights
- 2,804‑square‑foot triplex on 0.362 acres
- Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom residences
- Two‑car attached garage serving the primary unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,726
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$734,520
$734.5K
Cap Rate 7%
$524,657
$524.7K
Cap Rate 9%
$408,067
$408.1K
Market Conditions
NOI Build-Up for 2,804 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.5K $19.80/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$52.5K $18.71/SF
− OpEx
−$15.7K −$5.61/SF
NOI
$36.7K $13.10/SF
Area
Washington County, MN
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$734,520
Cap Rate 7%
$524,657
Cap Rate 9%
$408,067
Alternative Uses
Best Use
Multifamily LT 5
$524.7K
$459.1K – $612.1K
NOI $36,726 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$487.2K
$426.3K – $568.5K
NOI $34,107 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$778.9K
$681.5K – $908.7K
NOI $54,521 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 55128, MN
29,217
Population
12,083
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
11.2 sq mi
ZIP Area
2,609
Density / Sq Mi
$89,642
Median Household Income
$49,997
Median Earnings
$1,451
Median Rent
$300,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with a three-bedroom main residence, two additional units, and a private backyard.
Where is this triplex located?
The property is located at 6193 49th Street N Oakdale, MN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,804‑square‑foot triplex on 0.362 acres; Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom residences; Two‑car attached garage serving the primary unit
