Triplex with Attached
New
For Sale
$475,000
6193 49th Street N, Oakdale, MN 55128
Residential Income, Oakdale, MN
Property Size2,804 SF
Lot Size0.36 Acres
Price / SF$169.40
Days on Market3
Property Features for 6193 49th Street N
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 3, Basement, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 5
Parking features
Other, Driveway, Garage - Attached, Garage - Detached
Exterior features
Shakes
Lot features
Tree Coverage - Light
High school district
North St Paul-Maplewood
Directions
Hwy 36 to 120, S to Georgia Blvd N, E to Gershwin, S to 49th, E to Property.
Standard status
Active
APN
0702921220021
Size
2,804 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4478
Utilities
Heating system
Forced Air
Building Details
Year built
1958
Roof type
Shingle
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Adam Tafel
(612) 600-6000
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 12 at 6:06PM
MLS# 7142187
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.
Built in 1958, this 2,804-square-foot triplex offers three distinct residential units on a 0.362-acre lot in Oakdale. The main-level residence includes three bedrooms and a 2-car attached garage, while the additional units provide two and one bedroom, respectively. Both secondary units have walkout access to the backyard.
A detached garage at the rear adds storage capacity and may support additional income use. The property also includes a driveway, forced-air heating, shake exterior siding, and a shingle roof. The address is 6193 49th Street N in Oakdale, Minnesota, within Washington County.
A detached garage at the rear adds storage capacity and may support additional income use. The property also includes a driveway, forced-air heating, shake exterior siding, and a shingle roof. The address is 6193 49th Street N in Oakdale, Minnesota, within Washington County.
Key Highlights
- Three‑unit property with 3‑bedroom, 2‑bedroom, and 1‑bedroom residences
- 2,804 square feet on a 0.362‑acre lot
- Main residence 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
NOI $36,726 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$487.2K
$426.3K – $568.5K
NOI $34,107 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$778.9K
$681.5K – $908.7K
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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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
557
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with a spacious primary residence, two additional units, and separate garage storage.
Where is this triplex located?
The property is located at 6193 49th Street 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; 2,804 square feet on a 0.362‑acre lot; Main residence includes a 2‑car attached garage
