115 6th St NW · Rochester, MN 55901

$217,500

2 bd · 2.0 ba · 1,550 sqft · MultiFamily public records · 27 Days on market

Built 1900 5,662 sqft lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Charming Duplex in Rochester’s Up-and-Coming Lowertown District. Don’t miss this incredible opportunity in Rochester’s vibrant Lowertown neighborhood - an area on the rise and full of potential. This well-maintained duplex features two separate units, perfect for an owner-occupant looking to offset their mortgage or an investor seeking a well-priced addition to their portfolio. Ideally located just a short walk to downtown Rochester, you’ll enjoy easy access to new restaurants, boutique shopping, and exciting local amenities, plus the newly planned Mayo Hospital, adding even more value and growth potential to the area. Each unit offers comfortable, light-filled livin

Key facts

• Lowertown district
• Off-street parking
• 5,662 sq ft lot

Tags

• LOWERTOWN DISTRICT
• NEWLY PLANNED MAYO HOSPITAL
• DETACHED TWO-CAR GARAGE
• OFF-STREET PARKING

Property features AI

Finance

• Other: Rental license: standard (active)
• Financial info: Property is a 2-unit investment (owner occupied: no); Owner pays gas and water; tenants pay electricity and trash collection; Gross income listed at $24,000; net operating income listed at $21,240; Expenses shown: fuel $1,140; water/sewer $420; insurance $1,200
• HOA & community: No association amenities

Exterior

• Parking: Detached or attached 2-car garage (2 garage spaces listed)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential income duplex; Duplex other subtype; One and one half levels; Facing/entry details not provided
• Construction: Asphalt roof; Stone foundation; Building area total approximately 2,812; Above-grade finished area approximately 1,550
• Exterior features: Metal exterior; Porch; No fencing; City street frontage with sidewalks; Publicly maintained road

Interior

• Kitchen: Each unit includes range and refrigerator
• Bedrooms: Total of 3 bedrooms (unit breakdown: one 2-bedroom unit and one 1-bedroom unit)
• Bathrooms: Unit breakdown: one unit with 2 baths (1 full, 1 three-quarter) and one unit with 1 full bath
• Heating & cooling: Forced air heating; No central cooling listed
• Interior features: Full unfinished basement; Porch; Tree coverage - light
• Laundry & utility: Laundry in basement, dedicated laundry room, and in-unit laundry available

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $218k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $727/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $218k).
• Recommended offer: $214k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 3.5% in Rochester — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 92/100 on livability (#1 in MN, #27 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Rochester Public School District (urban): math 40% / reading 51% proficiency, ranked #152 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: John Marshall Senior High (math 37% / reading 58%, grade D, #162 of 471 statewide, top 35%, 1,573 students, 43% FRL).
• Market conditions: Rents rising (+2.2%/yr); 509 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,267 units permitted in Olmsted County in 2024 (915 in 5+ unit buildings).
• At $3,765/mo this rent would consume 48% of the median local household income ($95k/yr) (locally 1651% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $61k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $140k; list at $218k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $214,237 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.73% ✓
• Cap rate: 14.32%
• Cash-on-cash: 28.66%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.18% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 1.89×
• Total profit: $54,388
• Equity at exit: $32,430

10-year hold

• IRR: 29.6%
• Equity multiple: 3.54×
• Total profit: $154,492
• Equity at exit: $18,805

Cash invested: $60,900 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 55901

• Home prices YoY: -33.2%
• Rents YoY: 2.2%
• Active inventory: 509
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $3,765 high
• Mortgage (P&I): −$1,141
• Tax from tax record: −$288 /mo · $3,462/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$791
• Net cashflow: $1,455

Break-even live

Break-even rent $1,924

Max offer price $217,500

Occupancy floor 56%

Sensitivity live

Price	-10% $1,578	-5% $1,516	+0% $1,455	+5% $1,393	+10% $1,332
Rent	-10% $1,157	-5% $1,306	+0% $1,455	+5% $1,603	+10% $1,752
Rate	-1.0pp $1,564	-0.5pp $1,510	base $1,455	+0.5pp $1,398	+1.0pp $1,341

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$3,764
Total (2 units)			$3,765

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $54,375
• Closing costs: $6,525
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 7th St NE Rochester, MN	2.0	1.0–2.0	789	$2,750	$3.49	21d	18	0.17mi
401 Broadway Ave N Rochester, MN	2.0	1.0–2.0	799	$1,977	$2.47	13d	22	0.21mi
917 N Broadway Ave Rochester, MN	2.0	1.0	2000	$1,400	$0.70	44d	1	0.22mi
619 2nd St NW Unit 2 Rochester, MN	3.0	1.5	1435	$1,575	$1.10	13d	1	0.46mi
809 1st St NW Rochester, MN	3.0	2.0	2030	$2,400	$1.18	13d	1	0.59mi
449 E Center St Rochester, MN	1.0–3.0	1.0–2.0	1165	$2,670	$2.29	13d	40	0.60mi
220 Broadway Ave S #911 Rochester, MN	2.0	2.0	1078	$1,750	$1.62	44d	1	0.64mi
207 5th Ave SW Rochester, MN	3.0	2.0	1500	$2,100	$1.40	44d	1	0.66mi
970 11th Ave NW Rochester, MN	1.0–3.0	1.0–2.0	952	$1,430	$1.50	13d	6	0.67mi
950 11th Ave NW Rochester, MN	2.0–3.0	2.0	1225	$1,245	$1.02	13d	8	0.70mi
123 11th Ave SE Unit 2 Rochester, MN	2.0	1.0	1150	$950	$0.83	21d	1	0.98mi
705 1st Ave SW Rochester, MN	3.0	1.0–2.5	1135	$3,148	$2.77	13d	91	1.00mi
1617 4th St NW Rochester, MN	3.0	1.0	790	$1,048	$1.33	13d	1	1.06mi
1350 2nd St NW Rochester, MN	3.0	2.0	1978	$2,350	$1.19	21d	1	1.09mi
1429 Center St W Rochester, MN	3.0	1.5	1400	$2,800	$2.00	44d	1	1.11mi
801 6th Ave SW Rochester, MN	3.0	2.5	2160	$2,500	$1.16	21d	1	1.11mi
308 15th Ave NE Rochester, MN	2.0	2.0	1344	$1,550	$1.15	21d	1	1.11mi
217 14th Ave SW Rochester, MN	3.0	1.0–2.0	1389	$3,215	$2.31	13d	35	1.14mi
814 7th Ave SW Unit back Rochester, MN	3.0	1.0	1400	$3,000	$2.14	44d	1	1.15mi
2607 Tuxedo Ln NW Rochester, MN	3.0	2.5	1714	$2,350	$1.37	13d	1	1.45mi

Listing history 30 events

1. 2026-06-17
   status $217,500 Pending 27 DOM
2. 2026-06-16
   days on market $217,500 Active 27 DOM
3. 2026-06-15
   days on market $217,500 Active 26 DOM
4. 2026-06-14
   days on market $217,500 Active 24 DOM
5. 2026-06-13
   days on market $217,500 Active 23 DOM
6. 2026-06-10
   days on market $217,500 Active 21 DOM
7. 2026-06-09
   days on market $217,500 Active 20 DOM
8. 2026-06-08
   days on market $217,500 Active 19 DOM
9. 2026-06-07
   days on market $217,500 Active 18 DOM
10. 2026-06-05
    days on market $217,500 Active 15 DOM
11. 2026-06-03
    days on market $217,500 Active 14 DOM
12. 2026-06-02
    days on market $217,500 Active 13 DOM
13. 2026-06-01
    days on market $217,500 Active 12 DOM
14. 2026-05-31
    days on market $217,500 Active 11 DOM
15. 2026-05-30
    days on market $217,500 Active 10 DOM
16. 2026-05-19
    listed $217,500 Active
17. 2025-12-16
    historical
18. 2025-12-03
    status Active
19. 2025-11-24
    status Pending
20. 2025-11-06
    listed $217,500 Active
21. 2017-07-12
    soldstatus $140,000
22. 2012-12-12
    soldstatus $743,000
23. 2011-01-26
    soldstatus $52,000
24. 2011-01-26
    soldstatus $52,000
25. 2010-12-10
    historical
26. 2010-07-20
    listed $52,900
27. 2010-07-20
    listed $52,900
28. 2010-07-20
    listed $52,900
29. 2005-01-18
    soldstatus $94,000
30. 1998-05-14
    soldstatus $59,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $3,462 · $288/mo
• Projected year-2 tax: $3,462 · $288/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,180
• − Mortgage interest: −$12,183
• − Property taxes: −$3,462
• − Insurance: −$1,088
• − Repairs & maintenance: −$3,614
• − Management: −$3,614
• − Depreciation: −$6,327
• Taxable income: $14,891
• Est. tax owed @ 24.0%: −$3,574
• After-tax cash flow: $13,882/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rochester Public School District
• NCES district ID: 2731800
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $66,540
• Composite: 40.6/100
• National rank: #3695
• State rank: #152 of 301 in MN

Livability — Rochester

• Score: 92/100
• State rank: #1
• US rank: #27

Category grades

Amenities A+ Commute A+ Cost of living B Crime A- Employment A+ Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, MN
• County: Olmsted County · 135,035 people
• City population: 135,035
• Metro: Rochester, MN
• Population (ZIP): 58,495
• Household income: $94,607
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1651.0

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 12% Asian 8% Two or more races 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 11% Romanian 3% Iranian 2%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 3% Other Asian/Pacific 3% Arabic 2%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.08%
• Current HPI: 253.7999
• Rent YoY: ▲ 2.18%
• Metro: Rochester, MN
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

Industry mix (Fortune 500 HQ in MN)

Industry	F500 HQs	Revenue
▸Healthcare	2	$407B
▸Retail	2	$150B
▸Consumer Goods	2	$32B
▸Industrial Machinery	2	$6B
▸Agriculture	1	$40B
▸Healthcare / Medical Devices	1	$32B

Price history

+263.1% since first listed

15 events — show timeline

• 2026-05-19 Listed $217,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-03 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-06 Listed $217,500 NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-12 Sold (Public Records) $140,000 Public Records
• 2012-12-12 Sold (Public Records) $743,000 Public Records
• 2011-01-26 Sold (MLS) $52,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-26 Sold (MLS) $52,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-20 Listed $52,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-20 Listed $52,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-20 Listed $52,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-01-18 Sold (Public Records) $94,000 Public Records
• 1998-05-14 Sold (Public Records) $59,900 Public Records

Property tax history

+3.2%/yr

Latest (2025): $3,462 · +4.6% YoY. Source: county tax records.