616 6th St SE · Rochester, MN 55904

$220,000

3 bd · 2.0 ba · 832 sqft · SingleFamily public records · 21 Days on market

Built 1924 6,621 sqft lot $264/sqft · at area comps Est $268k · 18% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.0/30.0
• Livability +4.6/5.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• 1% rule +3.6/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a wonderful three bdrm, one and a half bath home, all appliances included, stove refrigerator, washer and dryer. Enclosed front porch, fenced back yard. Not only is this home centrally located, but it has mature trees, and a fire pit in the fenced backyard. Great for having guests over.

Key facts

• Fenced yard
• Local coffee shops
• Enclosed front porch

Tags

• ENCLOSED FRONT PORCH
• THREE SEASON LIVING SPACE
• FENCED YARD
• WALKING DISTANCE TO DOWNTOWN
• WALK TO FARMERS MARKET
• LOCAL COFFEE SHOPS

Property features AI

Exterior

• Parking: Detached or on-site parking with asphalt surface; Garage with automatic opener (1-car garage)
• Utilities: City water connected; City sewer connected; Natural gas; Electric service with circuit breakers; Power provided by Rochester Public Utilities
• Home design: Residential property; One-and-a-half story layout; Main entry on main level
• Construction: Frame construction; Block foundation; Asphalt roof; Foundation area approximately 832; Originally built with a full, unfinished basement
• Exterior features: Front porch; Metal exterior; Chain-link fence enclosing the yard; Medium tree coverage; Public transit within about six blocks; Irregular-shaped lot

Interior

• Kitchen: Kitchen with window
• Bedrooms: Three bedrooms — two on the main level, one on the upper level
• Bathrooms: One full bathroom on the main floor; One half bath in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Three-season porch; Informal dining area / combined living-dining room; Main floor bedroom
• Laundry & utility: Washer and dryer included; Washer/dryer hookup; Laundry located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $28 ($340/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (14.1% below list).
• Recommended offer: $189k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Riverside Central Elementary (math 12% / reading 22%, grade F, #771 of 857 statewide, top 91%, 417 students, 79% FRL); Mayo Senior High (math 42% / reading 65%, grade C-, #104 of 471 statewide, top 22%, 1,862 students, 31% FRL) — zoned schools average 55% FRL vs 31% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.1%/yr); 149 active listings in the ZIP; 21 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).

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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y 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 $125k; list at $220k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $188,932 (14.1% below list)

Questions for the listing agent

1. Built in 1924 — 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: 0.86% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.55%
• DSCR: 1.02
• GRM: 9.7

CMA / ARV

• ARV (median comp): $267,552
• List price: $220,000
• Delta: -17.77%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.1% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-35,545
• Equity at exit: $32,803

10-year hold

• IRR: -9.8%
• Equity multiple: 0.42×
• Total profit: $-35,484
• Equity at exit: $19,022

Cash invested: $61,600 (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 55904

• Rents YoY: 2.1%
• Active inventory: 149
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,889 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$219 /mo · $2,626/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $28

Break-even live

Break-even rent $1,853

Max offer price $220,000

Occupancy floor 94%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 13th Ave SE Rochester, MN	2.0	1.0	850	$1,550	$1.82	43d	1	0.36mi
524 10th St SE Rochester, MN	2.0	1.0	850	$1,475	$1.74	43d	1	0.45mi
449 E Center St Rochester, MN	1.0–3.0	1.0–2.0	1165	$3,795	$3.26	13d	40	0.49mi
220 Broadway Ave S #911 Rochester, MN	2.0	2.0	1078	$1,750	$1.62	43d	1	0.50mi
705 1st Ave SW Rochester, MN	3.0	1.0–2.5	1135	$3,875	$3.41	13d	91	0.55mi
511 3rd Ave SW Rochester, MN	2.0	1.0	647	$1,795	$2.77	13d	26	0.69mi
401 Broadway Ave N Rochester, MN	2.0	1.0–2.0	799	$1,977	$2.47	13d	22	0.85mi
400 1st Ave NW Rochester, MN	1.0–2.0	1.0–2.0	819	$1,510	$1.84	13d	7	0.89mi
504 14th St SE #6 Rochester, MN	2.0	1.0	725	$995	$1.37	43d	1	0.95mi
603 1st St SW Rochester, MN	2.0	1.0	512	$1,295	$2.53	13d	3	0.95mi
1902 8 1/2 St SE Unit Andover 1902-D Rochester, MN	3.0	2.0	1100	$1,250	$1.14	43d	1	0.95mi
625 3rd St SW Rochester, MN	1.0–2.0	1.0	612	$1,395	$2.28	13d	3	0.98mi
28 7th St NE Rochester, MN	2.0	1.0–2.0	789	$2,750	$3.49	21d	18	0.98mi
2016 8 1/2 St SE Unit Andover 2016-A Rochester, MN	3.0	2.0	1100	$1,250	$1.14	43d	1	0.99mi
718 5th St SW Rochester, MN	2.0	1.0	722	$1,400	$1.94	13d	4	1.00mi
1537 6th Ave SE Unit 1523-D Rochester, MN	2.0	1.0	800	$975	$1.22	13d	1	1.13mi
2041 14th St SE Rochester, MN	2.0	1.0	1012	$1,700	$1.68	21d	1	1.33mi
1505 Marion Rd SE Rochester, MN	1.0–3.0	1.0–2.0	864	$1,630	$1.89	13d	1	1.37mi
1732 2nd Ave SE Rochester, MN	2.0	1.0	780	$1,450	$1.86	13d	1	1.42mi
204 13th St NW Rochester, MN	2.0	1.0	705	$1,208	$1.71	13d	4	1.43mi
226 13th St NW Unit 27 Rochester, MN	2.0	1.0	705	$1,120	$1.59	21d	1	1.46mi

Listing history 16 events

1. 2026-05-07
   listed $220,000 Active 654-char remark
2. 2018-12-10
   historical 295-char remark

   Show marketing remark (295 chars)

   This is a wonderful three bdrm, one and a half bath home, all appliances included, stove refrigerator, washer and dryer. Enclosed front porch, fenced back yard. Not only is this home centrally located, but it has mature trees, and a fire pit in the fenced backyard. Great for having guests over.

3. 2018-12-10
   historical

   Show marketing remark (295 chars)

   This is a wonderful three bdrm, one and a half bath home, all appliances included, stove refrigerator, washer and dryer. Enclosed front porch, fenced back yard. Not only is this home centrally located, but it has mature trees, and a fire pit in the fenced backyard. Great for having guests over.

4. 2018-12-09
   historical
5. 2018-01-03
   soldstatus $125,400 295-char remark

   Show marketing remark (295 chars)

   This is a wonderful three bdrm, one and a half bath home, all appliances included, stove refrigerator, washer and dryer. Enclosed front porch, fenced back yard. Not only is this home centrally located, but it has mature trees, and a fire pit in the fenced backyard. Great for having guests over.

6. 2018-01-02
   soldstatus $127,400
7. 2017-11-01
   listed $139,900 295-char remark

   Show marketing remark (295 chars)

   This is a wonderful three bdrm, one and a half bath home, all appliances included, stove refrigerator, washer and dryer. Enclosed front porch, fenced back yard. Not only is this home centrally located, but it has mature trees, and a fire pit in the fenced backyard. Great for having guests over.

8. 2009-05-14
   soldstatus $113,300
9. 2009-04-30
   soldstatus $113,300
10. 2009-04-30
    soldstatus $113,300
11. 2009-03-06
    listed $113,900
12. 2009-03-06
    listed $113,900
13. 2008-08-22
    listed $124,800
14. 2008-08-22
    listed $124,800
15. 1999-07-30
    soldstatus $76,000
16. 1998-04-23
    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: $2,626 · $219/mo
• Projected year-2 tax: $2,626 · $219/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: $22,672
• − Mortgage interest: −$12,323
• − Property taxes: −$2,626
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,814
• − Management: −$1,814
• − Depreciation: −$6,400
• Taxable loss: −$3,405
• Est. tax savings @ 24.0%: +$817
• After-tax cash flow: $1,158/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): 29,639
• Household income: $77,016
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 864.0

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 (74%)
• Race & ethnicity: White 74% Black 10% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 11% Lithuanian 2% Italian 2%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 5% 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: ▼ -161.04%
• Current HPI: 267.168
• Rent YoY: ▲ 2.10%
• 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

+267.3% since first listed

18 events — show timeline

• 2026-05-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-23 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Listed $220,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-01-03 Sold (MLS) $125,400 NORTHSTARMLS as Distributed by MLS Grid
• 2018-01-02 Sold (Public Records) $127,400 Public Records
• 2017-11-01 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-05-14 Sold (Public Records) $113,300 Public Records
• 2009-04-30 Sold (MLS) $113,300 NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-30 Sold (MLS) $113,300 NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-06 Listed $113,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-06 Listed $113,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-22 Listed $124,800 NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-22 Listed $124,800 NORTHSTARMLS as Distributed by MLS Grid
• 1999-07-30 Sold (Public Records) $76,000 Public Records
• 1998-04-23 Sold (Public Records) $59,900 Public Records

Property tax history

+8.7%/yr

Latest (2025): $2,626 · +7.2% YoY. Source: county tax records.