Building Details

Year Built 1958

Listing Agency: Real Broker, LLC

Listed By: Adam Tafel Show Phone

Source: Chrisfritchteam

Added: Sep 13 Last Checked: Sep 14 at 6:40PM

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Investment Insights

Based on property information with market context.

Built in 1958, this 2804-square-foot triplex includes three distinct residential units: a main-level three-bedroom unit, a two-bedroom unit, and a one-bedroom unit. The largest residence has a two-car attached garage and a layout suited to single-level living. The additional units provide walkout access to the property's large private backyard.

A detached rear garage adds storage space and another functional improvement to the property. Located at 6193 49th St N in Oakdale, the asset combines varied unit configurations with attached and detached garage space across an established residential setting.

Key Highlights

• Three‑unit property with 3‑bedroom, 2‑bedroom, and 1‑bedroom residences
• 2804 SF building constructed in 1958
• Main‑level 3‑bedroom unit includes a 2‑car attached garage

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

$36,726

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

7.73%

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%

$734,520 $734.5K

Cap Rate 7%

$524,657 $524.7K

Cap Rate 9%

$408,067 $408.1K

Market Conditions

NOI Build-Up for 2,804 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

$55.5K $19.80/SF

− Vacancy

−$3.1K −$1.09/SF

EGI

$52.5K $18.71/SF

− OpEx

−$15.7K −$5.61/SF

NOI

$36.7K $13.10/SF

Area

Washington County, MN

Vacancy

5.50%

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%

$734,520

Cap Rate 7%

$524,657

Cap Rate 9%

$408,067

Alternative Uses

Best Use

Multifamily LT 5

$524.7K

$459.1K – $612.1K (±1% cap)

NOI $36,726 @ 7.0% cap · market cap 7.73%

Second Best

Apartment 5plus

$487.2K

$426.3K – $568.5K (±1% cap)

NOI $34,107 @ 7.0% cap · market cap 7.18%

Theoretical Best

Office A

$778.9K

$681.5K – $908.7K (±1% cap)

NOI $54,521 @ 7.0% cap · market cap 11.48%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Hair Salon HVAC Service Bakery Auto Parts 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

3

Residential units

Location Intelligence

Trade Area within ½ mile

299

Businesses Nearby

Explore this area Business Placement

Demographics for 55128, MN

29,217

Population

12,083

Households

2.4

Avg Household Size

39

Median Age

33%

College-Educated

93%

High-School Grad

11.2 sq mi

ZIP Area

2,609

Density / Sq Mi

$89,642

Median Household Income

$49,997

Median Earnings

$1,451

Median Rent

$300,700

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

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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 - Three-unit residential property with varied layouts, garage parking, and access to a private backyard.

Where is this triplex located?

The property is located at 6193 49th St N Oakdale, MN.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Three‑unit property with 3‑bedroom, 2‑bedroom, and 1‑bedroom residences; 2804 SF building constructed in 1958; Main‑level 3‑bedroom unit includes a 2‑car attached garage