Building Details

Year Built 1940

Stories 1

Listing Agency: True Real Estate

Listed By: Alexander Phippen · License #40666915 Show Phone

Source: Bradadamrealty

Added: Oct 1 Last Checked: Oct 5 at 11:55PM

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Investment Insights

Based on property information with market context.

This single-story triplex at 407 E 6th St in Fairmont contains three similarly sized apartments within 1,680 square feet. Built in 1940, the property has submetered utilities, and two units have received recent rehabilitation. The configuration combines three rental units with utility metering by unit.

Key Highlights

• Three similarly sized units in a 1,680‑square‑foot building
• Submetered utilities
• Recent rehabilitation completed in two units

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Daycare Center Locksmith HVAC Service (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

660

Businesses Nearby

Explore this area Business Placement

Demographics for 56031, MN

12,117

Population

5,771

Households

2.1

Avg Household Size

44

Median Age

26%

College-Educated

95%

High-School Grad

156.3 sq mi

ZIP Area

78

Density / Sq Mi

$61,373

Median Household Income

$43,168

Median Earnings

$719

Median Rent

$175,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Submetered utilities support unit-level usage tracking across the three-apartment property.

Where is this triplex located?

The property is located at 407 E 6th St Fairmont, MN.

What is the asking price?

The asking price for this property is $174,900.

What are key features of this property?

This property features: Three similarly sized units in a 1,680‑square‑foot building; Submetered utilities; Recent rehabilitation completed in two units