Updated Side-by-Side Duplex with Attached
For Sale
$609,000
717 6th Avenue S, Hopkins, MN 55343
MULTI_FAMILY - Hopkins, MN
Property Size3,127 SF
Lot Size0.17 Acres
Price / SF$194.76
Days on Market19
Property Features for 717 6th Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Basement, Bathroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3, Bedroom 5, Bedroom 6
Parking features
Open, Driveway, Garage, Garage - Attached
Exterior features
Brick/Stone, Fiber Board
Subdivision
South Meadows
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Light
High school district
Hopkins
Directions
169 to Lincoln Dr/5th St., right on W 7th St., Right on 2nd Ave S., Left on 5th St., Left on 6th Ave.
Standard status
Active
APN
2511722420036
Size
3,127 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10013
Utilities
Heating system
Forced Air
Building Details
Year built
1970
Roof type
Shingle
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 848-2400
Listed By:
Ryan Fischer
(952) 829-2900
Added: Jul 22
Changed: Aug 1
Last Checked: Aug 9 at 11:06PM
MLS# 7112458
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.
This updated side-by-side duplex in Hopkins offers flexible living and leasing. Each unit includes three bedrooms and two bathrooms, with two main-level bedrooms plus a lower-level bedroom, and a large, functional floor plan. The property provides separate utilities so each tenant pays their own expenses, and it features an oversized attached garage for each side. Forced air heating supports comfortable year-round use. Exterior materials include brick/stone and fiber board, and the roof is shingle.
Improvements include a new roof in 2022, new garage doors on both units, new furnaces (2022 and 2024), and new water heaters (2025), along with updated appliances and new front entry concrete. One side is available for an owner-occupant or a new tenant, while the other unit is leased through April 30, 2027.
Set on a 0.17-acre lot with 3,127 square feet, this duplex was built in 1970 and is positioned for everyday convenience in Hopkins, with access to parks and regional trails, including the Nine Mile Creek Regional Trail, and proximity to major highways and the future Metro Green Line Extension.
Improvements include a new roof in 2022, new garage doors on both units, new furnaces (2022 and 2024), and new water heaters (2025), along with updated appliances and new front entry concrete. One side is available for an owner-occupant or a new tenant, while the other unit is leased through April 30, 2027.
Set on a 0.17-acre lot with 3,127 square feet, this duplex was built in 1970 and is positioned for everyday convenience in Hopkins, with access to parks and regional trails, including the Nine Mile Creek Regional Trail, and proximity to major highways and the future Metro Green Line Extension.
Key Highlights
- 0.17‑acre lot with 3,127 square feet built in 1970
- Shingle roof with new roof installed in 2022
- Separate utilities for each unit plus forced air heating
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
$40,523
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
6.65%
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%
$810,460
$810.5K
Cap Rate 7%
$578,900
$578.9K
Cap Rate 9%
$450,256
$450.3K
Market Conditions
NOI Build-Up for 3,127 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
$61.9K $19.80/SF
− Vacancy
−$4.0K −$1.29/SF
EGI
$57.9K $18.51/SF
− OpEx
−$17.4K −$5.55/SF
NOI
$40.5K $12.96/SF
Area
Hennepin County, MN
Vacancy
6.50%
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%
$810,460
Cap Rate 7%
$578,900
Cap Rate 9%
$450,256
Alternative Uses
Best Use
Multifamily LT 5
$578.9K
$506.5K – $675.4K
NOI $40,523 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$522.1K
$456.9K – $609.2K
NOI $36,549 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$746.0K
$652.8K – $870.4K
NOI $52,223 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 55343, MN
26,307
Population
14,111
Households
1.9
Avg Household Size
38
Median Age
52%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,416
Density / Sq Mi
$82,415
Median Household Income
$54,823
Median Earnings
$1,427
Median Rent
$350,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side duplex on separate utilities, with multiple 2022–2025 updates and one unit leased through April 30, 2027.
Where is this duplex located?
The property is located at 717 6th Avenue S Hopkins, MN.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: 0.17‑acre lot with 3,127 square feet built in 1970; Shingle roof with new roof installed in 2022; Separate utilities for each unit plus forced air heating
