Two-Story Up/Down
For Sale
$375,000
4023 6th Street NE, Columbia Heights, MN 55421
MULTI_FAMILY - Columbia Heights, MN
Property Size2,100 SF
Lot Size0.11 Acres
Price / SF$178.57
Days on Market83
Property Features for 4023 6th Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 1
Parking features
Garage - Detached, Open
Exterior features
Stucco
Subdivision
Columbia Heights Annex
High school district
Columbia Heights
Directions
From I-35W northbound, exit at Johnson St NE. Left on St Anthony Pkwy and then right on Central Ave NE. Take a left onto 40th Ave NE and then a right onto 6th St NE. Home will be on your right.
Standard status
Active
APN
353024310076
Size
2,100 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4157
Utilities
Heating system
Oil
Building Details
Year built
1927
Roof type
Shingle
Listing Agency:
RE/MAX Results · RE/MAX International
(763) 591-6000
Listed By:
Pat Hiller
(952) 829-2900
Added: May 24
Changed: Aug 10
Last Checked: Aug 14 at 11:06AM
MLS# 7080131
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 two-story up/down duplex features two bedrooms plus a sun room in each unit. Interior updates include replacement windows and hardwood floors, and the lower unit highlights additional woodwork. The basement adds extra utility and storage space. The property also benefits from brand new boilers and water heaters.
Exterior features include stucco and a newer patio out back. Additional improvements include LeafGuard gutters and new garage doors. Parking includes a detached garage and open parking.
Built in 1927, the duplex is heated with oil and has a shingle roof. The units are fully vacant, providing an opportunity for immediate occupancy or renovation planning.
Exterior features include stucco and a newer patio out back. Additional improvements include LeafGuard gutters and new garage doors. Parking includes a detached garage and open parking.
Built in 1927, the duplex is heated with oil and has a shingle roof. The units are fully vacant, providing an opportunity for immediate occupancy or renovation planning.
Key Highlights
- Fully vacant two‑story up/down duplex with sun rooms in both units
- Brand new boilers and water heaters
- Replacement windows and hardwood floors in each 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
$26,009
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
6.94%
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%
$520,180
$520.2K
Cap Rate 7%
$371,557
$371.6K
Cap Rate 9%
$288,989
$289.0K
Market Conditions
NOI Build-Up for 2,100 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
$39.8K $18.96/SF
− Vacancy
−$2.7K −$1.27/SF
EGI
$37.2K $17.69/SF
− OpEx
−$11.1K −$5.31/SF
NOI
$26.0K $12.39/SF
Area
Anoka County, MN
Vacancy
6.68%
Lease Rate
$18.96 /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%
$520,180
Cap Rate 7%
$371,557
Cap Rate 9%
$288,989
Alternative Uses
Best Use
Multifamily LT 5
$371.6K
$325.1K – $433.5K
NOI $26,009 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$342.4K
$299.6K – $399.5K
NOI $23,967 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$583.3K
$510.4K – $680.5K
NOI $40,832 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Explore this area
Business Placement
Demographics for 55421, MN
30,580
Population
13,247
Households
2.3
Avg Household Size
37
Median Age
34%
College-Educated
90%
High-School Grad
6.3 sq mi
ZIP Area
4,854
Density / Sq Mi
$75,141
Median Household Income
$44,242
Median Earnings
$1,281
Median Rent
$260,500
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 - Fully vacant two-story duplex with two bedrooms plus sun rooms per unit, replacement windows, and hardwood floors.
Where is this duplex located?
The property is located at 4023 6th Street NE Columbia Heights, MN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Fully vacant two‑story up/down duplex with sun rooms in both units; Brand new boilers and water heaters; Replacement windows and hardwood floors in each unit
