Updated Side-by-Side
For Sale
$609,000
717 6th Ave S, Hopkins, MN 55343
Each residence offers a spacious bedroom-and-bath layout with an oversized attached garage.
Property Size3,127 SF
Price / SF$194.76
Days on Market22
Property Features for 717 6th Ave S
General Information
Standard status
Active
Size
3,127 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,012
Listing Agency:
RE/MAX Results
(612) 888-6127
Listed By:
Ryan Fischer
(612) 888-6127
Source:
Exprealty
Added: Jul 22
Changed: Aug 10
Last Checked: Aug 11 at 9:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Results
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 3,127 square feet, with each residence offering 3 bedrooms, 2 bathrooms, an oversized attached garage, and bedrooms arranged across the main and lower levels. Separate utilities serve the two units, supporting independent occupancy and expense management. Recent improvements include a roof replacement in 2022, new garage doors, furnaces installed in 2022 and 2024, water heaters added in 2025, updated appliances, and new concrete at the front entries.
The property is located at 717 6th Ave S in Hopkins, near Downtown Hopkins, Valley Park, the Nine Mile Creek Regional Trail, and the city’s regional trail network. Nearby access includes major highways and the future Metro Green Line Extension. Downtown amenities include restaurants, coffee shops, breweries, shopping, entertainment, and the Hopkins Raspberry Festival.
The property is located at 717 6th Ave S in Hopkins, near Downtown Hopkins, Valley Park, the Nine Mile Creek Regional Trail, and the city’s regional trail network. Nearby access includes major highways and the future Metro Green Line Extension. Downtown amenities include restaurants, coffee shops, breweries, shopping, entertainment, and the Hopkins Raspberry Festival.
Key Highlights
- Side‑by‑side duplex totaling 3,127 SF
- Each unit includes 3 bedrooms and 2 bathrooms
- Oversized attached garage for 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
$40,523
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
6.65%
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%
$810,460
$810.5K
Cap Rate 7%
$578,900
$578.9K
Cap Rate 9%
$450,256
$450.3K
Market Conditions
NOI Build-Up for 3,127 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
$61.9K $19.80/SF
− Vacancy
−$4.0K −$1.29/SF
EGI
$57.9K $18.51/SF
− OpEx
−$17.4K −$5.55/SF
NOI
$40.5K $12.96/SF
Area
Hennepin County, MN
Vacancy
6.50%
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%
$810,460
Cap Rate 7%
$578,900
Cap Rate 9%
$450,256
Alternative Uses
Best Use
Multifamily LT 5
$578.9K
$506.5K – $675.4K
NOI $40,523 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$522.1K
$456.9K – $609.2K
NOI $36,549 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$746.0K
$652.8K – $870.4K
NOI $52,223 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 55343, MN
26,307
Population
14,111
Households
1.9
Avg Household Size
38
Median Age
52%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,416
Density / Sq Mi
$82,415
Median Household Income
$54,823
Median Earnings
$1,427
Median Rent
$350,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers a spacious bedroom-and-bath layout with an oversized attached garage.
Where is this duplex located?
The property is located at 717 6th Ave S Hopkins, MN.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: Side‑by‑side duplex totaling 3,127 SF; Each unit includes 3 bedrooms and 2 bathrooms; Oversized attached garage for each unit
