Updated Two-Unit
For Sale
$285,000
215 6th St NW, Rochester, MN 55901
Two-level duplex with shared laundry, an enclosed porch, an outdoor deck, and rear off-street parking.
Property Size1,366 SF
Price / SF$208.64
Days on Market58
Property Features for 215 6th St NW
General Information
Standard status
Active
Size
1,366 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
enclosed front porch
outdoor deck
shared laundry
off-street parking
Building Details
Year Built
1900
Listing Agency:
Re/Max Results
Listed By:
Robin Gwaltney
(507) 259-4926
Source:
Homesminn
Added: Jul 20
Changed: Sep 13
Last Checked: Sep 14 at 2:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Re/Max Results
Investment Insights
Based on property information with market context.
Built in 1900, this 1,366-square-foot duplex contains two separate residences, each with 2 bedrooms and 1 bathroom. The main-floor unit includes an enclosed front porch, while the upper residence offers deck access. Both units provide distinct living areas, and shared laundry is located in the basement. Off-street parking is positioned behind the property.
Major property improvements completed in 2025 include a new roof, siding, windows, and furnace. The duplex is located at 215 6th Street NW in Rochester, near downtown and Mayo Clinic. Its two-level layout supports continued rental use or an owner-occupant arrangement.
Major property improvements completed in 2025 include a new roof, siding, windows, and furnace. The duplex is located at 215 6th Street NW in Rochester, near downtown and Mayo Clinic. Its two-level layout supports continued rental use or an owner-occupant arrangement.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- 1,366 square feet; built in 1900
- 2025 improvements include new roof, siding, windows, and furnace
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
$14,716
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
5.16%
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%
$294,320
$294.3K
Cap Rate 7%
$210,229
$210.2K
Cap Rate 9%
$163,511
$163.5K
Market Conditions
NOI Build-Up for 1,366 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
$22.1K $16.20/SF
− Vacancy
−$1.1K −$0.81/SF
EGI
$21.0K $15.39/SF
− OpEx
−$6.3K −$4.62/SF
NOI
$14.7K $10.77/SF
Area
Rochester, MN
Vacancy
5.00%
Lease Rate
$16.20 /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%
$294,320
Cap Rate 7%
$210,229
Cap Rate 9%
$163,511
Alternative Uses
Best Use
Multifamily LT 5
$210.2K
$184.0K – $245.3K
NOI $14,716 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$184.5K
$161.4K – $215.3K
NOI $12,915 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$526.1K
$460.4K – $613.8K
NOI $36,828 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,160
Businesses Nearby
Explore this area
Business Placement
Demographics for 55901, MN
58,046
Population
24,852
Households
2.3
Avg Household Size
36
Median Age
50%
College-Educated
94%
High-School Grad
33.1 sq mi
ZIP Area
1,754
Density / Sq Mi
$90,430
Median Household Income
$52,778
Median Earnings
$1,321
Median Rent
$290,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level duplex with shared laundry, an enclosed porch, an outdoor deck, and rear off-street parking.
Where is this duplex located?
The property is located at 215 6th St NW Rochester, MN.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; 1,366 square feet; built in 1900; 2025 improvements include new roof, siding, windows, and furnace
