2512 N 6th St

Triplex · 3 units: 3 bed / 1 bath ×2 and 2 bed / 1 bath unit split estimated · 2,965 sq ft

Minneapolis, MN · Hawthorne · View the listing ↗

Cash flows

68 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $525,000
Monthly cash flow: $594
Estimated rent: $5,825/mo
Break-even price: $636,648

Adjust the numbers See the full breakdown

First look

This is a duplex plus a separate small house on one lot, priced at $525K. Our numbers say it makes about $613 a month at asking, with a 7.8% cap rate and a break-even price near $640K. The seller paid $403,810 sixteen months ago and wants about 30% more, and the county values it at only $257,800, so the price is hard to justify on value alone. The description gives no rents, no lease status and no mention of systems, so get the rent roll, utility setup and the rental license for all three units before a showing. It's worth a look if the rents prove out close to our estimates, but appraisal risk remains.

Things to consider

Price is well above county value and recent sale Asking is $525K against a $403,810 sale 16 months ago and a $257,800 county market value. Appraisal risk is real, even though our break-even price is about $640K.
Positive cash flow at asking depends on estimated rents Our underwriting shows about +$613 a month. Rent estimates of $2,050 for the 3-beds and $1,750 for the 2-bed carry this price, but they are unconfirmed.
No rent or lease information Without actual rents you can't confirm income. The description sells on price per bedroom rather than on rents.Listing says: “Property is priced under $65,000/bedroom”
Two structures on one lot A house and a duplex can mean two roofs, two sets of systems and possibly separate financing and insurance issues. Check the survey and lot lines.Listing says: “purchase two structures on a single lot”
Heat and utility setup unclear The county lists hot water heat but the photos show forced-air vents. Owner-paid heat would add a large expense.
Garage income is only a maybe Garage rent is a modest add-on and should not be counted until a renter is confirmed.Listing says: “2 car garage near the alley can be rented for additional income.”

From the photos

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

Condition and repairs

doneSingle family home freshly turned (unit turnover, paint and carpet)Listing says: Single family home is freshly turned.
doneUpdated kitchen and bathroom in the single family homeListing says: 2 bedrooms + office, updated kicthen and bathroom

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: $525,000
Cash to close: $120,750
Price per unit: $175,000
GRM: 7.5

Each month

Cash flow: $594/mo
Cash-on-cash: 5.9%
Cap rate: 7.7%
DSCR: 1.21×

Break-even

Price that breaks even: $636,648
Rent that breaks even: $5,043/mo

Long run

Year 30: property vs stocks: $3.21M vs $919K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$5,825
Vacancy (6%)	−$350
Collected	$5,476
Property tax Public record	−$408
Insurance Estimate	−$315
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$524
Capital reserve (9% of rent)	−$524
Net operating income	$3,389
Mortgage (principal + interest)	−$2,794
Cash flow	$594
Principal paid down (equity, not cash)	$356

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$3,205,653

Your equity when you sell: $1,197,854
Rental profits, invested at 7%: $2,007,799

Same money in stocks$919,180

Cash to close, invested at 7%: $919,180

The building comes out $2,286,473 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 $3.21M, stocks $919K. 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 $2,100/mo · range $1,900–$2,200 · 8 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	0.4 mi	2026-07-14	Apartment
816 21st Ave N Apt 107, Minneapolis	$1,788	3 / 1	1,500	0.4 mi	2026-07-14	Apartment
1406 21st Ave N Unit 1, Minneapolis	$2,065	3 / 1	—	0.7 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	1.3 mi	2026-07-31	Duplex triplex
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 $1,625/mo · range $1,450–$1,825 · 16 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
421 N 26th Ave Unit 1, Minneapolis	$1,500	2 / 1	300	0.0 mi	2026-09-21	Apartment
415 23rd Ave N Apt 4, Minneapolis	$1,415	2 / 1	850	0.2 mi	—	Apartment
816 21st Ave N Apt 337, Minneapolis	$1,788	2 / 1	1,000	0.4 mi	2026-07-14	Apartment
2222 Girard Ave N, Minneapolis	$1,500	2 / 1	1,736	0.6 mi	2026-07-10	Duplex triplex
2219 Marshall St NE, Minneapolis	$1,509	2 / 1	895	0.8 mi	2026-09-15	Apartment
2000 W Broadway Ave, Minneapolis	$1,350	2 / 1	902	1.0 mi	2026-01-02	Apartment
2652 Marshall St NE, Minneapolis	$1,249	2 / 1	—	1.0 mi	2025-04-30	Apartment
2630 Grand St NE, Minneapolis	$1,595	2 / 1	873	1.1 mi	2026-03-20	Apartment
2630 Grand St NE Unit 2, Minneapolis	$1,595	2 / 1	873	1.1 mi	—	Apartment
815 N 2nd St, Minneapolis	$2,313	2 / 1	784	1.1 mi	2024-04-12	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

highCounty market value is about half the asking price, which could affect appraisal and the lender's view. Based on: data: county.market_value · AI review
highThe 'price per bedroom' pitch and 'very strong cash flow' claim aren't backed by any rents. Our underwriting shows negative cash flow at asking. Listing says: you can enjoy very strong cash flow on this long term investment opportunity · AI review
mediumBought for $403,810 in Jun 2025; asking is 30% more 16 months later. Ask what was done to justify the jump. Public record: Hennepin County parcel 1502924220126: last sale 2025-06-01, $403,810
mediumListing mixes a duplex and a separate house, so the 8-bed / 3-bath count and the 'triplex' label need verifying. Financing and insurance may treat them differently. Listing says: purchase two structures on a single lot · AI review
mediumThe rental license on file is under a neighboring address (2510 6th St N), so confirm the license covers all three units at 2512. Based on: data: city.rental_license · AI review
low$255 in special assessments on the current tax bill (often street, sewer or code-enforcement charges). Ask what they're for, whether they continue, and whether the seller pays them off at closing. Public record: Hennepin County parcel 1502924220126: special assessments (current) = $254.96
lowInterstate 94 is about 255 m away. Expect noise, which can hurt rents and resale. Based on: data: highway.distance_m · AI review

Opportunities

The garage can be rented separately for extra income. Ask whether it is already rented. Listing says: 2 car garage near the alley can be rented for additional income. · AI review
Shared laundry in the duplex basement could earn coin or fee income if it's owner-owned. Listing says: shared laundry machines in the lower level · AI review
Minneapolis has no rent cap, so rents can follow the market after turnover. Based on: data: underwriting.rent_rule · AI review

Questions for the agent

What are the current rents and lease terms for each of the three units, and can I see the rent roll and leases?
What did the seller change since buying for $403,810 in June 2025 to justify $525K?
Who pays heat, water and electric, and are there separate meters for the house and each duplex unit?
What are the $255 special assessments for, and does the seller pay them at closing?
How old are the roof, boiler (hot water heat), electrical panels and water heaters on both structures?
Is the rental license current for all three units at this address?

Bottom line

Two buildings on one lot at $525K, nearly double the county value but below break-even on our rent estimates; it works only if the rents we can't see yet hold up. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$4,896
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,785
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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 1900: +1 pt capital reserve; 8 bedrooms: +1 pt repairs for wear	9% / 9%

Price history Realtor.com

On the market since 2026-06-28 (99 days, relisted 1×); last sold for $197,500 on 2019-06-07.

Date	Event	Price
2026-08-17	Listed	$525,000
2026-06-28	Removed	$499,900
2019-06-07	Sold	$197,500
2012-03-09	Sold public record	$108,305
2010-11-23	Sold public record	$125,292
2007-08-21	Sold public record	$108,000
2005-02-16	Sold public record	$290,000
2003-03-07	Sold public record	$168,500

County record Public record

Recorded as	single family house
Living units	3
Year built	1900
Market value (2026)	$257,800
Property tax	$4,896
Special assessments	$255
Homestead	no
Last sale	2025-06-01 · $403,810

Source: Hennepin County parcel records.

City rental license

CHOWN: 3 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

I 94, about 255 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).