2125 N 6th St

Duplex · 2 units: 3 bed / 1 bath and 2 bed / 1 bath unit split estimated · 3,836 sq ft

Minneapolis, MN · Hawthorne · View the listing ↗

Cash flows

40 photos

Photos, via Realtor.com.

Needs more info before these numbers mean much. The city's rental license covers 1 unit(s); this analysis counts 2.

Asking price: $335,000
Monthly cash flow: $138
Estimated rent: $3,675/mo
Break-even price: $360,990

Adjust the numbers See the full breakdown

First look

This is a Minneapolis up/down at $335K with stated rents of $1,750 and $1,500, which is $3,250 a month. That is below our estimates for a 3-bed and a 2-bed, which total $3,700. Our underwriting at a 20% down payment and asking price shows about +$158 a month, a 7.0% cap rate, and a break-even price near $365K, so it works at today's rates at the asking price, with the price about $30K below break-even. The 3-bed goes vacant at the end of the month, so the $1,750 is not income you can count on, and you'd re-rent it at closer to our $1,800 estimate. The photos show an older building with original woodwork, hot-water radiators and a stone basement, so check the boiler, wiring and foundation. Worth a showing, but the thin cushion means repairs could erase the cash flow.

Things to consider

Thin positive cash flow at the asking price Our underwriting shows about +$158 a month with a break-even near $365K. The cushion is small, so vacancy or repairs could push it negative.
Vacant 3-bed at month end The $1,750 rent will not carry over. Plan for vacancy, turnover costs and a re-rent closer to our $1,800 estimate.Listing says: “will be vacant, making it an excellent opportunity for an owner-occupant”
Licensing mismatch The city license covers 1 unit, but you'd be underwriting 2. If the second unit isn't legal, rent and financing could be affected.
2-bed rent is locked in with a lease A lease through July 2027 gives stable income on that unit, and $1,500 is below our $1,900 estimate, so there may be room to raise it at turnover.Listing says: “lease in place through July 31, 2027”
Older systems and cosmetic updates The kitchen, bath and basement appear dated or cosmetic. Budget for system and capital repairs before assuming rent growth.From photo 5

From the photos

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

Rents the listing states

3-bedroom unit: $1,750 (month-to-month)Listing says: 3-bedroom unit currently rented for $1,750/month on a month-to-month lease that expires at the end of this month
2-bedroom unit: $1,500 (lease)Listing says: The 2-bedroom unit generates $1,500/month with a lease in place through July 31, 2027

AI-assisted first read of the listing description and photos (Claude), checked against public records. Every rent and repair above quotes the listing; verify with the agent, leases and an inspection.

The numbers

Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price: $335,000
Cash to close: $77,050
Price per unit: $167,500
GRM: 7.6

Each month

Cash flow: $138/mo
Cash-on-cash: 2.2%
Cap rate: 6.9%
DSCR: 1.08×

Break-even

Price that breaks even: $360,990
Rent that breaks even: $3,495/mo

Long run

Year 30: property vs stocks: $1.65M vs $587K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,675
Vacancy (6%)	−$220
Collected	$3,454
Property tax Listing	−$426
Insurance Estimate	−$253
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$294
Capital reserve (9% of rent)	−$331
Net operating income	$1,921
Mortgage (principal + interest)	−$1,783
Cash flow	$138
Principal paid down (equity, not cash)	$227

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

If you buy this building$1,648,238

Your equity when you sell: $764,345
Rental profits, invested at 7%: $883,893

Same money in stocks$586,524

Cash to close, invested at 7%: $586,524

The building comes out $1,061,714 ahead after 30 years.

Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $1.65M, stocks $587K. The property wins.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-06. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

3 bed estimate $2,000/mo · range $1,875–$2,175 · 9 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
816 21st Ave N Apt 336, Minneapolis	$2,065	3 / 1	1,500	0.2 mi	2026-07-14	Apartment
816 21st Ave N Apt 107, Minneapolis	$1,788	3 / 1	1,500	0.2 mi	2026-07-14	Apartment
1406 21st Ave N Unit 1, Minneapolis	$2,065	3 / 1	—	0.6 mi	2025-07-23	Duplex triplex
912 4th St NE Unit Upstairs, Minneapolis	$1,900	3 / 1	1,250	1.2 mi	2026-06-03	Duplex triplex
912 4th St NE Unit Main, Minneapolis	$2,100	3 / 1	1,120	1.2 mi	2026-03-04	Duplex triplex
3023 Queen Ave N, Minneapolis	$1,450	3 / 1	820	1.4 mi	2026-07-31	Duplex triplex
910 Oliver Ave N Apt 5, Minneapolis	$1,790	3 / 1	1,101	1.4 mi	2026-07-28	Apartment
1622 Washington St NE, Minneapolis	$1,795	3 / 1	1,200	1.4 mi	2026-09-21	Apartment
1226 Adams St NE, Minneapolis	$2,049	3 / 1	1,750	1.5 mi	2026-07-08	Apartment

2 bed estimate $1,675/mo · range $1,450–$1,850 · 21 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
415 23rd Ave N Apt 4, Minneapolis	$1,415	2 / 1	850	0.1 mi	—	Apartment
816 21st Ave N Apt 337, Minneapolis	$1,788	2 / 1	1,000	0.2 mi	2026-07-14	Apartment
421 N 26th Ave Unit 1, Minneapolis	$1,500	2 / 1	300	0.3 mi	2026-09-21	Apartment
2222 Girard Ave N, Minneapolis	$1,500	2 / 1	1,736	0.5 mi	2026-07-10	Duplex triplex
2000 W Broadway Ave, Minneapolis	$1,350	2 / 1	902	0.9 mi	2026-01-02	Apartment
815 N 2nd St, Minneapolis	$2,313	2 / 1	784	0.9 mi	2024-04-12	Apartment
80 Broadway St NE, Minneapolis	$2,429	2 / 1	737	0.9 mi	2026-01-30	Apartment
756 N 4th St, Minneapolis	$1,717	2 / 1	924	1.0 mi	2025-05-02	Apartment
2219 Marshall St NE, Minneapolis	$1,509	2 / 1	895	1.0 mi	2026-09-15	Apartment
1025 Main St NE, Minneapolis	$2,379	2 / 1	760	1.0 mi	2026-01-30	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

highThe city's rental license covers 1 unit(s); this analysis counts 2. Public record: Minneapolis Active Rental Licenses: 2125 6TH ST N, units=1
mediumRental license shows 1 unit, not 2, and is a CHOWN license (a conversion-of-owner-occupied type). Confirm the second unit is legal and licensable. Based on: data: city.rental_license · AI review
mediumListing is 80 days old with no price cut mentioned, and the numbers are negative at the ask. Based on: data: listing.days_on_market · AI review
mediumStone basement walls and old plumbing and piping suggest an aging building. Foundation and moisture need an inspection. Based on: photo 10 · AI review
lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "3-bedroom unit currently rented for $1,750/month on a month-to-month lease that expires at the end of this"
lowThe property sits about 300 m from a motorway, so noise may affect rentability. Based on: data: highway.distance_m · AI review

Opportunities

Unfinished attic could add finished square footage or a unit, subject to code and egress. Listing says: The unfinished attic offers the potential to add additional finished square footage. · AI review
Owner-occupant angle: the 3-bed will be vacant, so a buyer could live there while the 2-bed rent helps pay the mortgage. Listing says: will be vacant, making it an excellent opportunity for an owner-occupant · AI review
Minneapolis has no rent cap, so rents can move with the market after turnover. Based on: data: underwriting.rent_rule · AI review

Questions for the agent

Is the 3-bed tenant actually moving out? Will it be delivered vacant at closing, and in what condition?
Can I see the rental license history and confirm both units are legal?
How old are the boiler, water heater, electrical panel and roof?
Is the 2-bed lease assignable, and what is the deposit? Can I see the lease?
Are the washer and dryer shared, and who pays for the shared basement and common-area electric?
Has the seller considered a price reduction after 80 days on market?

Bottom line

Rents are decent, and at $335K it makes a little money each month, so it can work as an investment if the building checks out. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2026. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit.	$5,106
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,035
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$170
Heat / mo Assumptionassumption. tenants pay heat; confirm with the agent	$0
Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal	$60
Repairs / capital reserve Rulerule. built 1912: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-07-14 (83 days); last sold for $314,900 on 2023-08-14.

Date	Event	Price
2026-07-14	Listed	$335,000
2023-08-14	Sold public record	$314,900
2023-03-10	Sold	$299,900
2021-02-13	Removed	$335,000
2011-03-03	Sold public record	$65,000
2005-10-18	Sold public record	$194,500
2003-09-24	Sold public record	$185,000
1999-09-16	Sold public record	$50,000
1998-09-11	Sold public record	$50,000

County record Public record

Recorded as	duplex
Living units	2
Year built	1912
Market value (2026)	$344,000
Property tax	$5,106
Special assessments	none
Homestead	no
Last sale	2023-03-01 · $299,900

Source: Hennepin County parcel records.

City rental license

CHOWN: 1 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

None, about 306 m away.

Crime in Hawthorne

445 incidents in the last 12 months (79 per 1,000 residents), −1% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).