Duplex with Shared
For Sale
$599,900
806 6th Street SE, Minneapolis, MN 55414
MULTI_FAMILY - Minneapolis, MN
Property Size3,336 SF
Lot Size0.13 Acres
Price / SF$179.83
Days on Market96
Property Features for 806 6th Street SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 8, Bedroom 7, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 2, Bathroom 1, Bathroom 3
Parking features
Parking Lot
Exterior features
Wood
Subdivision
Mill Cos Add To St Anthony Falls
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Light
High school district
Minneapolis
Directions
35W S, W onto 5th St SE, NE onto SE 8th Ave, right onto 6th St SE, home on right.
Standard status
Active
APN
2402924230032
Size
3,336 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11243
Utilities
Heating system
Hot Water(Heating)
Amenities
coin-op laundry
Building Details
Year built
1902
Listing Agency:
eXp Realty
(320) 500-4397
Listed By:
Marissa Winegarden
(612) 751-9303
Added: May 11
Changed: Aug 13
Last Checked: Aug 14 at 11:06AM
MLS# 7068739
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 3,336-square-foot duplex at 806 6th Street SE was built in 1902 and features wood exterior construction, hot-water heating, three bathrooms, and eight bedrooms. The property includes a parking lot and is being offered concurrently with 810 6th Street SE, a separately identified triplex.
The two-property offering includes a shared 20-space parking lot and is located in Dinkytown near the University of Minnesota campus. The duplex is currently operating in its existing configuration, while the property information identifies a potential path toward triplex conversion. Coin-operated laundry and additional parking income are also identified as possible income sources for the combined offering.
The two-property offering includes a shared 20-space parking lot and is located in Dinkytown near the University of Minnesota campus. The duplex is currently operating in its existing configuration, while the property information identifies a potential path toward triplex conversion. Coin-operated laundry and additional parking income are also identified as possible income sources for the combined offering.
Key Highlights
- 3,336‑square‑foot duplex built in 1902
- Eight bedrooms and three bathrooms
- Wood exterior with hot‑water heating
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
$48,741
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
8.12%
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%
$974,820
$974.8K
Cap Rate 7%
$696,300
$696.3K
Cap Rate 9%
$541,567
$541.6K
Market Conditions
NOI Build-Up for 3,336 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
$74.1K $22.20/SF
− Vacancy
−$4.4K −$1.33/SF
EGI
$69.6K $20.87/SF
− OpEx
−$20.9K −$6.26/SF
NOI
$48.7K $14.61/SF
Area
Minneapolis, MN
Vacancy
5.98%
Lease Rate
$22.20 /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%
$974,820
Cap Rate 7%
$696,300
Cap Rate 9%
$541,567
Alternative Uses
Best Use
Multifamily LT 5
$696.3K
$609.3K – $812.4K
NOI $48,741 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$639.5K
$559.6K – $746.1K
NOI $44,768 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$795.9K
$696.4K – $928.6K
NOI $55,713 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,479
Businesses Nearby
Explore this area
Business Placement
Demographics for 55414, MN
36,600
Population
15,541
Households
2.4
Avg Household Size
26
Median Age
68%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
11,806
Density / Sq Mi
$47,004
Median Household Income
$18,386
Median Earnings
$1,368
Median Rent
$454,200
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 - Wood-frame rental property offered with a neighboring triplex and shared parking near the University of Minnesota campus.
Where is this duplex located?
The property is located at 806 6th Street SE Minneapolis, MN.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 3,336‑square‑foot duplex built in 1902; Eight bedrooms and three bathrooms; Wood exterior with hot‑water heating
