Remodeled Duplex with Detached
For Sale
$450,000
728 6th Avenue S, Hopkins, MN 55343
Two-unit property with refreshed interiors, separate driveways, and lower-level expansion space.
Property Size1,800 SF
Price / SF$250
Days on Market43
Property Features for 728 6th Avenue S
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1967
Listing Agency:
Bridge Realty, LLC
(952) 400-7000
Listed By:
Michael Bartus
(952) 400-7000
Source:
Hometwincities
Added: Jul 19
Changed: Aug 28
Last Checked: Aug 29 at 9:00AM
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 Bridge Realty, LLC
Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex was built in 1967 and includes two residential units with distinct interior updates. The 730 unit has an updated kitchen and bathroom, new flooring, and contemporary finishes. The 728 unit features new kitchen appliances, refinished hardwood floors, and new carpet, with a tenant scheduled to move in on July 28. Both units offer lower levels that may accommodate future family rooms and additional bedrooms, subject to applicable approvals.
A detached garage provides one stall for each unit, and the property has separate driveways plus street parking. The home is located one block from the Nine Mile Creek Regional Trail and near Downtown Hopkins, shopping, restaurants, and major freeways. Its duplex configuration supports both owner-occupant and investor use.
A detached garage provides one stall for each unit, and the property has separate driveways plus street parking. The home is located one block from the Nine Mile Creek Regional Trail and near Downtown Hopkins, shopping, restaurants, and major freeways. Its duplex configuration supports both owner-occupant and investor use.
Key Highlights
- 1,800 SF duplex built in 1967
- 730 unit has an updated kitchen and bathroom, new flooring, and modern finishes
- 728 unit includes new kitchen appliances, refinished hardwood floors, and new carpet
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
$23,326
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
5.18%
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%
$466,520
$466.5K
Cap Rate 7%
$333,229
$333.2K
Cap Rate 9%
$259,178
$259.2K
Market Conditions
NOI Build-Up for 1,800 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
$35.6K $19.80/SF
− Vacancy
−$2.3K −$1.29/SF
EGI
$33.3K $18.51/SF
− OpEx
−$10.0K −$5.55/SF
NOI
$23.3K $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%
$466,520
Cap Rate 7%
$333,229
Cap Rate 9%
$259,178
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.6K – $388.8K
NOI $23,326 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$300.6K
$263.0K – $350.7K
NOI $21,039 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$429.4K
$375.8K – $501.0K
NOI $30,061 @ 7.0% cap · market cap 6.68%
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
585
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with refreshed interiors, separate driveways, and lower-level expansion space.
Where is this duplex located?
The property is located at 728 6th Avenue S Hopkins, MN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,800 SF duplex built in 1967; 730 unit has an updated kitchen and bathroom, new flooring, and modern finishes; 728 unit includes new kitchen appliances, refinished hardwood floors, and new carpet
