111 6th St NW · Rochester, MN 55901

$221,500

4 bd · 3.0 ba · 780 sqft · SingleFamily public records · 22 Days on market

Built 1888 6,272 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
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• 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

Listing remarks MLS

Great starter home, walking distance to Mayo Clinic, new windows, new flooring, freshly painted interior, water heater, furnace, appliances 5 yrs old, large garage for storage.

Key facts

• 6,272 sq ft lot
• 3 garage spots
• Built 1888

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $222k.

Deal economics

• At list price, monthly cash flow is $867 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $222k).
• Recommended offer: $218k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.0% 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; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,267 units permitted in Olmsted County in 2024 (915 in 5+ unit buildings).
• This rent runs 37% of the median local income ($95k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago; this cycle's ask has dropped $14k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $121k; list at $222k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,177 (1.5% below list)

Questions for the listing agent

1. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.32% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.78%
• DSCR: 1.75
• GRM: 6.3

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: 7.1%
• Equity multiple: 1.27×
• Total profit: $16,922
• Equity at exit: $33,026

10-year hold

• IRR: 15.7%
• Equity multiple: 2.23×
• Total profit: $76,133
• Equity at exit: $19,151

Cash invested: $62,020 (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: 6.3×

Monthly cashflow live

• Estimated rent: $2,931 medium
• Mortgage (P&I): −$1,162
• Tax from tax record: −$194 /mo · $2,332/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $867

Break-even live

Break-even rent $1,833

Max offer price $221,500

Occupancy floor 65%

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: $55,375
• Closing costs: $6,645
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
449 E Center St Rochester, MN	1.0–3.0	1.0–2.0	1165	$3,795	$3.26	13d	40	0.60mi
970 11th Ave NW Rochester, MN	1.0–3.0	1.0–2.0	952	$1,734	$1.82	13d	6	0.67mi
950 11th Ave NW Rochester, MN	2.0–3.0	2.0	1225	$1,695	$1.38	13d	8	0.70mi
705 1st Ave SW Rochester, MN	3.0	1.0–2.5	1135	$3,875	$3.41	13d	91	1.00mi
1617 4th St NW Rochester, MN	3.0	1.0	790	$1,135	$1.44	13d	1	1.06mi
217 14th Ave SW Rochester, MN	3.0	1.0–2.0	1389	$4,126	$2.97	13d	35	1.14mi

Listing history 16 events

1. 2026-04-25
   status Pending
2. 2026-04-25
   status Active
3. 2026-04-20
   status Pending
4. 2026-04-17
   price $221,500
5. 2026-04-03
   status Active
6. 2026-03-24
   status Pending
7. 2026-03-21
   listed $235,000 Active
8. 2026-03-20
   historical $235,000
9. 2015-06-24
   soldstatus $121,000
10. 2008-06-18
    soldstatus $75,000
11. 2008-05-29
    soldstatus $75,000 176-char remark

    Show marketing remark (176 chars)

    Great starter home, walking distance to Mayo Clinic, new windows, new flooring, freshly painted interior, water heater, furnace, appliances 5 yrs old, large garage for storage.

12. 2008-05-29
    soldstatus $75,000 176-char remark

    Show marketing remark (176 chars)

    Great starter home, walking distance to Mayo Clinic, new windows, new flooring, freshly painted interior, water heater, furnace, appliances 5 yrs old, large garage for storage.

13. 2008-04-29
    historical 176-char remark

    Show marketing remark (176 chars)

    Great starter home, walking distance to Mayo Clinic, new windows, new flooring, freshly painted interior, water heater, furnace, appliances 5 yrs old, large garage for storage.

14. 2008-02-27
    listed $79,900 176-char remark

    Show marketing remark (176 chars)

    Great starter home, walking distance to Mayo Clinic, new windows, new flooring, freshly painted interior, water heater, furnace, appliances 5 yrs old, large garage for storage.

15. 2008-02-27
    listed $79,900 176-char remark

    Show marketing remark (176 chars)

    Great starter home, walking distance to Mayo Clinic, new windows, new flooring, freshly painted interior, water heater, furnace, appliances 5 yrs old, large garage for storage.

16. 1988-04-01
    soldstatus $38,000

ⓘ 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: $2,332 · $194/mo
• Projected year-2 tax: $2,406 · $201/mo
• Expected delta: +$74/yr (+$6/mo · 3.2%)

ⓘ 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: $35,168
• − Mortgage interest: −$12,407
• − Property taxes: −$2,332
• − Insurance: −$1,108
• − Repairs & maintenance: −$2,813
• − Management: −$2,813
• − Depreciation: −$6,444
• Taxable income: $7,250
• Est. tax owed @ 24.0%: −$1,740
• After-tax cash flow: $8,664/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

+482.9% since first listed

16 events — show timeline

• 2026-04-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $221,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-03 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-21 Listed $235,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-20 Coming Soon $235,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-06-24 Sold (Public Records) $121,000 Public Records
• 2008-06-18 Sold (Public Records) $75,000 Public Records
• 2008-05-29 Sold (MLS) $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-05-29 Sold (MLS) $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-04-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-27 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-27 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 1988-04-01 Sold (Public Records) $38,000 Public Records

Property tax history

+8.7%/yr

Latest (2025): $2,332 · +4.2% YoY. Source: county tax records.