27 6th Ave SE · Rochester, MN 55904

$349,900

3 bd · 2.0 ba · 1,900 sqft · MultiFamily public records · 52 Days on market

Built 1918 5,662 sqft lot $184/sqft · 30% above area Est $293k · 19% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Opportunities abound! Located within walking distance to Mayo Clinic, downtown restaurants, entertainment, Mayo Field, Riverfest, this well maintained duplex is prefect for owner occupants or for the savvy investor to add to their portfolio. The main level is a cute 1 bedroom, 1 bath unit, while the upstairs is a 2 bed, 1 bath unit. Both units include on site laundry & 1 garage stall for each. If location, location, location is the key, then this should be your must have property.

Key facts

• 5,662 sq ft lot
• 2 garage spots
• Built 1918

Property features AI

Finance

• Financial info: Property contains 2 units; Owner pays electricity, gas, repairs, sewer, snow removal, taxes, trash collection and water; Gross income reported: $31,572; Fuel expense: $1,606; Electric expense: $2,146; Insurance expense: $1,934; Trash expense: $507.48; Maintenance expense: $7,590; Other expenses: $4,311; Rental license: Standard, active; Tenants pay cable TV and telephone
• HOA & community: Association provides laundry

Exterior

• Parking: Concrete parking; Detached 2-car garage
• Utilities: City water connected; City sewer connected; Natural gas fuel; Circuit breaker electrical; Power provided by Rochester Public Utilities
• Home design: Residential income property (duplex, up-and-down); More than 2 stories; Entry level: Main and lower levels
• Construction: Frame construction; Block foundation; Asphalt roof; Built with a 780 sq ft foundation area
• Exterior features: Front porch; Deck; Metal exterior trim/details; Light tree coverage; Public transit within 6 blocks; City street frontage; Private maintained road

Interior

• Kitchen: Range; Refrigerator; Exhaust fan/hood; Stainless steel appliances
• Bedrooms: Unit 1: 1 bedroom; Unit 2: 2 bedrooms
• Flooring: Hardwood floors
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Forced air heating; Window cooling units
• Interior features: Hardwood floors; Natural woodwork; Deck; French doors
• Laundry & utility: Common area laundry (lower level); Laundry available through association

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $681/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $339k (3.0% 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: Riverside Central Elementary (math 12% / reading 22%, grade F, #771 of 857 statewide, top 91%, 417 students, 79% FRL); Kellogg Middle (math 42% / reading 53%, grade C-, #93 of 258 statewide, top 37%, 856 students, 43% FRL); Century Senior High (math 37% / reading 67%, grade D+, #111 of 471 statewide, top 26%, 1,698 students, 31% FRL) — zoned schools average 51% FRL vs 31% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.1%/yr); 151 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $4,678/mo this rent would consume 73% of the median local household income ($77k/yr) (locally 864% 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.
• 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 + 2.1% rent growth), your $98k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $350k implies a 483% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $339,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.34% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.67%
• DSCR: 1.74
• GRM: 6.2

CMA / ARV

• ARV (median comp): $293,497
• List price: $349,900
• Delta: 19.22%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.8%
• Equity multiple: 1.26×
• Total profit: $25,820
• Equity at exit: $52,171

10-year hold

• IRR: 15.4%
• Equity multiple: 2.20×
• Total profit: $117,280
• 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 55904

• Rents YoY: 2.1%
• Active inventory: 151
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $4,678 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$354 /mo · $4,244/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$982
• Net cashflow: $1,361

Break-even live

Break-even rent $2,955

Max offer price $349,900

Occupancy floor 66%

Sensitivity live

Price	-10% $1,559	-5% $1,460	+0% $1,361	+5% $1,262	+10% $1,163
Rent	-10% $992	-5% $1,176	+0% $1,361	+5% $1,546	+10% $1,731
Rate	-1.0pp $1,537	-0.5pp $1,450	base $1,361	+0.5pp $1,271	+1.0pp $1,178

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,678
Total (2 units)			$4,678

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: —

Rent comps 16 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	15d	40	0.09mi
607 7th Ave SE Rochester, MN	2.0	2.0	2614	$2,300	$0.88	45d	1	0.44mi
308 15th Ave NE Rochester, MN	2.0	2.0	1344	$1,550	$1.15	22d	1	0.64mi
705 1st Ave SW Rochester, MN	3.0	1.0–2.5	1135	$3,875	$3.41	15d	91	0.72mi
207 5th Ave SW Rochester, MN	3.0	2.0	1500	$2,100	$1.40	45d	1	0.77mi
917 N Broadway Ave Rochester, MN	2.0	1.0	2000	$1,400	$0.70	45d	1	0.80mi
619 2nd St NW Unit 2 Rochester, MN	3.0	1.5	1435	$1,575	$1.10	15d	1	0.86mi
809 1st St NW Rochester, MN	3.0	2.0	2030	$2,400	$1.18	15d	1	0.97mi
801 6th Ave SW Rochester, MN	3.0	2.5	2160	$2,500	$1.16	22d	1	1.01mi
814 7th Ave SW Unit back Rochester, MN	3.0	1.0	1400	$3,000	$2.14	45d	1	1.06mi
1321 3rd Ave NW Rochester, MN	4.0	2.0	2320	$2,295	$0.99	15d	1	1.15mi
826 21st Ave SE Rochester, MN	4.0	2.0	1250	$1,508	$1.21	15d	11	1.25mi
832 21st Ave SE Unit 21 Rochester, MN	4.0	2.0	1240	$1,495	$1.21	45d	1	1.28mi
970 11th Ave NW Rochester, MN	1.0–3.0	1.0–2.0	952	$1,734	$1.82	15d	6	1.32mi
950 11th Ave NW Rochester, MN	2.0–3.0	2.0	1225	$1,695	$1.38	15d	8	1.35mi
217 14th Ave SW Rochester, MN	3.0	1.0–2.0	1389	$4,126	$2.97	15d	35	1.46mi

Listing history 21 events

1. 2026-06-21
   days on market $349,900 Active 52 DOM
2. 2026-06-19
   days on market $349,900 Active 50 DOM
3. 2026-06-18
   days on market $349,900 Active 49 DOM
4. 2026-06-17
   days on market $349,900 Active 48 DOM
5. 2026-06-16
   days on market $349,900 Active 47 DOM
6. 2026-06-15
   days on market $349,900 Active 46 DOM
7. 2026-06-14
   days on market $349,900 Active 44 DOM
8. 2026-06-13
   days on market $349,900 Active 43 DOM
9. 2026-06-10
   days on market $349,900 Active 41 DOM
10. 2026-06-09
    days on market $349,900 Active 40 DOM
11. 2026-06-08
    days on market $349,900 Active 39 DOM
12. 2026-06-07
    days on market $349,900 Active 38 DOM
13. 2026-06-05
    days on market $349,900 Active 35 DOM
14. 2026-06-03
    days on market $349,900 Active 34 DOM
15. 2026-06-02
    days on market $349,900 Active 33 DOM
16. 2026-06-01
    days on market $349,900 Active 32 DOM
17. 2026-05-31
    days on market $349,900 Active 31 DOM
18. 2026-05-30
    days on market $349,900 Active 30 DOM
19. 2026-05-01
    listed $349,900 Active 489-char remark
20. 2026-04-29
    historical $349,900 489-char remark
21. 1998-04-30
    soldstatus $60,000

ⓘ 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: $4,244 · $354/mo
• Projected year-2 tax: $4,244 · $354/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: $56,136
• − Mortgage interest: −$19,600
• − Property taxes: −$4,244
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,491
• − Management: −$4,491
• − Depreciation: −$10,179
• Taxable income: $11,382
• Est. tax owed @ 24.0%: −$2,732
• After-tax cash flow: $13,603/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

+483.2% since first listed

3 events — show timeline

• 2026-05-01 Listed $349,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Coming Soon $349,900 NORTHSTARMLS as Distributed by MLS Grid
• 1998-04-30 Sold (Public Records) $60,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $4,244 · +4.7% YoY. Source: county tax records.