527 6th Ave NW · Faribault, MN 55021

$349,900

6 bd · 4.0 ba · 1,730 sqft · MultiFamily public records · 117 Days on market

Built 1880 6,926 sqft lot $202/sqft · 138% above area

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Why this score? — see what drove the C+ 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 +27.4/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Triplex investment opportunity at 527 6th Ave NW in Faribault featuring three 2-bedroom, 1-bath units. Each unit offers a practical floor plan with comfortable living spaces and consistent layouts throughout. The property presents strong rental appeal (Unit 1 rent $1310 month, Unit 2 $1100 Month, Unit 3 $1250 month) and is well positioned for long-term income potential in an established neighborhood. A solid option for investors seeking a multi-unit property with dependable demand.

Key facts

• Practical floor plan
• Multi-unit property
• Strong rental appeal

Tags

• PRACTICAL FLOOR PLAN
• COMFORTABLE LIVING SPACES
• STRONG RENTAL APPEAL
• LONG-TERM INCOME POTENTIAL
• ESTABLISHED NEIGHBORHOOD
• MULTI-UNIT PROPERTY

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $342/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $318k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.1% in Faribault — 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 76/100 on livability (#158 in MN, #3,440 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment C-, commute F.
• Faribault Public School District (town): math 17% / reading 34% proficiency, ranked #275 of 301 in MN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 165 active listings in the ZIP; 93 units permitted in Rice County in 2024 (0 in 5+ unit buildings).
• At $4,083/mo this rent would consume 71% of the median local household income ($69k/yr) (locally 755% 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 $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $318,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.17% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.58%
• DSCR: 1.56
• GRM: 7.1

CMA / ARV

• ARV (median comp): $146,840
• List price: $349,900
• Delta: 138.29%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $8,651
• Equity at exit: $52,171

10-year hold

• IRR: 11.9%
• Equity multiple: 1.93×
• Total profit: $91,477
• Equity at exit: $30,253

Cash invested: $97,972 (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 55021

• Home prices YoY: -26.9%
• Active inventory: 165
• Price-to-rent: 21.4×

Monthly cashflow live

• Estimated rent: $4,083 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$218 /mo · $2,612/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$857
• Net cashflow: $1,027

Break-even live

Break-even rent $2,783

Max offer price $349,900

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,083
Total (3 units)			$4,083

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-05-18
   status Pending 486-char remark

   Show marketing remark (486 chars)

   Triplex investment opportunity at 527 6th Ave NW in Faribault featuring three 2-bedroom, 1-bath units. Each unit offers a practical floor plan with comfortable living spaces and consistent layouts throughout. The property presents strong rental appeal (Unit 1 rent $1310 month, Unit 2 $1100 Month, Unit 3 $1250 month) and is well positioned for long-term income potential in an established neighborhood. A solid option for investors seeking a multi-unit property with dependable demand.

2. 2026-01-21
   listed $349,900 Active 486-char remark

   Show marketing remark (486 chars)

   Triplex investment opportunity at 527 6th Ave NW in Faribault featuring three 2-bedroom, 1-bath units. Each unit offers a practical floor plan with comfortable living spaces and consistent layouts throughout. The property presents strong rental appeal (Unit 1 rent $1310 month, Unit 2 $1100 Month, Unit 3 $1250 month) and is well positioned for long-term income potential in an established neighborhood. A solid option for investors seeking a multi-unit property with dependable demand.

3. 2025-02-01
   historical $1,250
4. 2025-01-28
   listed $1,250
5. 2025-01-13
   soldstatus $315,200 Sold 402-char remark

   Show marketing remark (402 chars)

   Take advantage of this fantastic investment opportunity with this fully remodeled triplex in Faribault. This property features three spacious 2-bedroom units, all recently updated to offer modern amenities while preserving the charm of the building. With tenants responsible for their own heat and electric, this property offers a great potential for steady cash flow and low maintenance for the owner.

6. 2024-12-31
   status Pending 402-char remark

   Show marketing remark (402 chars)

   Take advantage of this fantastic investment opportunity with this fully remodeled triplex in Faribault. This property features three spacious 2-bedroom units, all recently updated to offer modern amenities while preserving the charm of the building. With tenants responsible for their own heat and electric, this property offers a great potential for steady cash flow and low maintenance for the owner.

7. 2024-12-05
   historical Contingent - Inspection 402-char remark

   Show marketing remark (402 chars)

   Take advantage of this fantastic investment opportunity with this fully remodeled triplex in Faribault. This property features three spacious 2-bedroom units, all recently updated to offer modern amenities while preserving the charm of the building. With tenants responsible for their own heat and electric, this property offers a great potential for steady cash flow and low maintenance for the owner.

8. 2024-11-18
   listed $309,900 Active 402-char remark

   Show marketing remark (402 chars)

   Take advantage of this fantastic investment opportunity with this fully remodeled triplex in Faribault. This property features three spacious 2-bedroom units, all recently updated to offer modern amenities while preserving the charm of the building. With tenants responsible for their own heat and electric, this property offers a great potential for steady cash flow and low maintenance for the owner.

9. 2018-02-06
   soldstatus $85,000
10. 2018-01-22
    soldstatus $85,000 Sold
11. 2017-11-21
    status Pending
12. 2017-08-14
    price $89,000
13. 2017-03-09
    listed $95,000 Active
14. 2017-03-08
    historical
15. 2016-03-08
    listed $99,000 Active
16. 2016-03-01
    historical
17. 2015-04-30
    listed $105,000 Active
18. 2015-03-25
    historical
19. 2014-07-28
    listed $113,000 Active
20. 2014-04-05
    historical
21. 2014-02-26
    listed $122,000 Active
22. 2012-12-12
    historical
23. 2012-06-30
    listed $149,900
24. 2012-06-27
    historical
25. 2011-06-27
    listed $149,900
26. 2003-03-17
    soldstatus $153,000
27. 2003-01-30
    soldstatus $153,000
28. 2002-11-19
    historical
29. 2002-11-04
    listed $153,900
30. 2002-01-31
    soldstatus $98,500
31. 2002-01-03
    historical
32. 2001-12-27
    listed $99,900
33. 1999-10-13
    soldstatus $72,500
34. 1999-10-13
    soldstatus $100,700

ⓘ 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: $2,612 · $218/mo
• Projected year-2 tax: $3,265 · $272/mo
• Expected delta: +$653/yr (+$54/mo · 25.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,996
• − Mortgage interest: −$19,600
• − Property taxes: −$2,612
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,920
• − Management: −$3,920
• − Depreciation: −$10,179
• Taxable income: $7,016
• Est. tax owed @ 24.0%: −$1,684
• After-tax cash flow: $10,642/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: Faribault Public School District
• NCES district ID: 2711760
• Math proficiency: 17% ▼ -18.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $54,584
• Composite: 22.85/100
• National rank: #8011
• State rank: #275 of 301 in MN

Livability — Faribault

• Score: 76/100
• State rank: #158
• US rank: #3440

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Faribault, MN
• County: Rice County · 56,558 people
• City population: 30,908
• Metro: Faribault-Northfield, MN
• Population (ZIP): 30,908
• Household income: $68,820
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 755.0

Population outlook (Rice County) Hauer SSP2

• Today (2025): 66,716 people
• By 2030: 67,352 · +1.0%
• By 2040: 67,595 · +1.3%
• By 2050: 67,074 · +0.5%
• By 2075: 66,641 · -0.1%
• By 2100: 66,205 · -0.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 13% Hispanic / Latino 12% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 9% Lithuanian 3% Romanian 2%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 1%

Political lean MEDSL · Rice

• 2024 margin: Toss-up / Even · D 47.8% · R 50.3% · Other 1.8%
• 2008→2024 swing: -14.0pp toward R · 2008: 11.5pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: R+0.2 2016: R+3.1 2012: D+8.3 2008: D+11.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.12%
• Current HPI: 253.3996
• Rent YoY: —
• Metro: Faribault-Northfield, 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

+382.6% since first listed

34 events — show timeline

• 2026-05-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-21 Listed $349,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-01 Rental Removed $1,250 REDFIN
• 2025-01-28 Listed for Rent $1,250 REDFIN
• 2025-01-13 Sold (MLS) $315,200 NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-31 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-05 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-11-18 Listed $309,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-02-06 Sold (Public Records) $85,000 Public Records
• 2018-01-22 Sold (MLS) $85,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-11-21 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-14 Price Changed $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-09 Listed $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-08 Listed $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-30 Listed $105,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-03-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-07-28 Listed $113,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-26 Listed $122,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-12-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-06-30 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-06-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-06-27 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-03-17 Sold (Public Records) $153,000 Public Records
• 2003-01-30 Sold (MLS) $153,000 NORTHSTARMLS as Distributed by MLS Grid
• 2002-11-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-11-04 Listed $153,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-01-31 Sold (MLS) $98,500 NORTHSTARMLS as Distributed by MLS Grid
• 2002-01-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-12-27 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 1999-10-13 Sold (Public Records) $100,700 Public Records
• 1999-10-13 Sold (Public Records) $72,500 Public Records

Property tax history

+5.0%/yr

Latest (2025): $2,612 · +13.2% YoY. Source: county tax records.