Building Details

Year Built 1900

Listing Agency: Re/Max Results

Listed By: Robin Gwaltney Show Phone

Source: Homesminn

Added: Jul 20 Changed: Oct 6 Last Checked: Oct 7 at 1:31PM

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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.

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 / Yr

$14,716

Cap Rate

5.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$294,320 $294.3K

Cap Rate 7%

$210,229 $210.2K

Cap Rate 9%

$163,511 $163.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,366 SF

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 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 (±1% cap)

NOI $14,716 @ 7.0% cap · market cap 5.16%

Second Best

Apartment 5plus

$184.5K

$161.4K – $215.3K (±1% cap)

NOI $12,915 @ 7.0% cap · market cap 4.53%

Theoretical Best

Office A

$526.1K

$460.4K – $613.8K (±1% cap)

NOI $36,828 @ 7.0% cap · market cap 12.92%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Locksmith Catering Service Butcher Carpet & Flooring Store

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

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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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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