3 6th Ave NW

Duplex · 2 units: 3 bed / 1 bath ×2 unit split estimated · 2,172 sq ft

Cash flows

41 photos

Photos courtesy of Weichert, REALTORS- Heartland - Broker, via Realtor.com.

Asking price: $290,000
Monthly cash flow: $322
Estimated rent: $3,350/mo
Break-even price: $350,447

Adjust the numbers See the full breakdown

From the listing

Discover a fantastic investment opportunity with this charming duplex, perfect for homeowners and investors alike. This property features both an upper and lower unit, each boasting 3 spacious bedrooms, a full bathroom, a well-appointed kitchen, an inviting dining room, and a cozy living room, making it an ideal living space for renters or your own family. Enjoy the tranquility of a beautifully fenced-in yard, perfect for outdoor gatherings or relaxing in the sun. Convenient laundry facilities are included, along with both on-street and off-street parking options, ensuring ease of access for residents and guests alike. Situated in a prime location, this duplex is just moments away from the vibrant downtown area of Faribault. You'll have easy access to grocery stores, gas stations, parks, and scenic walking trails, making it a wonderful place to live or rent. Don't miss out on this opportunity! Call today to schedule your private showing and see all that this property has to offer.

Listing courtesy of Weichert, REALTORS- Heartland - Broker (Michelle Jasinski). Description from Realtor.com, MLS #7078713. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is an 1870 duplex in Faribault with two 3-bed/1-bath units at $290K. Our underwriting at the ask shows about $322/month cash flow and a 7.7% cap rate, with rents estimated at $1,675 per unit. That looks workable, but the county parcel didn't match, so taxes are unverified and could change the math. The listing gives no rents, lease status, utilities, heat type or roof age, and the photos show dated finishes and a rough basement. It has sat 137 days, so there is room to negotiate. Worth a showing if the real taxes and rent roll hold up, but get the mechanicals and wiring checked early.

Things to consider

Taxes are unverified The parcel didn't match, so real taxes could be higher for an investor and cut into the $322/month cash flow.
Age of the building and systems An 1870 house with an exposed-wiring basement may need electrical, plumbing or foundation work that eats into returns.From photo 10
Income is not documented No rents are stated, so you are relying on our $1,675 per-unit estimate until you see leases.
Negotiating leverage from time on market 137 days listed suggests the price may not be supported; use inspection findings to push it down.
Cosmetic updates only Painted cabinets and paneling suggest light refresh; budget for turnover and deeper repairs.From photo 3

From the photos

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

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: $290,000
Cash to close: $66,700
Price per unit: $145,000
GRM: 7.2

Each month

Cash flow: $322/mo
Cash-on-cash: 5.8%
Cap rate: 7.7%
DSCR: 1.21×

Break-even

Price that breaks even: $350,447
Rent that breaks even: $2,932/mo

Long run

Year 30: property vs stocks: $1.75M vs $508K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,350
Vacancy (6%)	−$201
Collected	$3,149
Property tax Listing	−$270
Insurance Estimate	−$215
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$268
Capital reserve (9% of rent)	−$302
Net operating income	$1,865
Mortgage (principal + interest)	−$1,544
Cash flow	$322
Principal paid down (equity, not cash)	$196

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$1,747,644

Your equity when you sell: $661,672
Rental profits, invested at 7%: $1,085,972

Same money in stocks$507,737

Cash to close, invested at 7%: $507,737

The building comes out $1,239,907 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 $1.75M, stocks $508K. The property wins.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.

3 bed / 1 bath estimate $1,675/mo · range $1,375–$1,975

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
9 1st St SW, Apt 1, Faribault 55021	$1,650	3 / 1	—	0.5 mi	2026-09-22	93%
209 8th St NW, Unit Lower, Faribault 55021 off market	$1,100	2 / 1	—	0.6 mi	2026-01-28	84%
956 6th Ave SW, Faribault 55021 off market	$1,250	2 / 1	—	0.8 mi	2022-11-21	83%
31 3rd St NE, Apt 301, Faribault 55021 off market	$1,650	2 / 1	1,400	0.6 mi	2026-06-15	81%
31 3rd St NE, Apt 201, Faribault 55021 off market	$2,200	2 / 1	1,400	0.6 mi	2026-04-07	81%
1114 4th St NW, Faribault 55021 off market	$1,625	3 / 1	—	0.4 mi	2026-08-20	79%
31 3rd St NE, Apt 203, Faribault 55021 off market	$1,650	2 / 1	1,200	0.6 mi	2026-06-24	79%
26 6th St NW, Faribault 55021 off market	$1,450	3 / 1	—	0.6 mi	2024-04-24	79%
416 1st St SW, Faribault 55021 off market	$1,950	3 / 1.5	1,680	0.2 mi	2026-05-04	78%
415 9th St NW, Apt 3, Faribault 55021	$1,275	2 / 1	1,092	0.6 mi	2026-10-05	78%

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

Red flags and opportunities

Watch for

highBuilt 1870 with a rough basement: wiring, plumbing and foundation condition are unknown Based on: data: listing.year_built · AI review
mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 3 6TH AVE NW
mediumNo rents, lease status or tenant info given, so income is unverified Listing says: Discover a fantastic investment opportunity with this charming duplex, perfect for homeowners and investors alike. · AI review
mediumHeat type, roof age and electrical service are not disclosed Based on: data: county.heat_type · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 137 days on market
137 days on market gives negotiating leverage Based on: data: listing.days_on_market · AI review
No rent cap, so rents can rise to market after turnover and cosmetic work Based on: data: underwriting.rent_rule · AI review
Cash flow is positive at the ask on our estimated rents Based on: data: underwriting.cash_flow_monthly · AI review

Questions for the agent

What are the current rents, lease end dates and deposits for each unit?
Which utilities does the owner pay, and are heat and water separately metered?
What is the heat system, and how old are the furnace(s), water heaters and roof?
What is the electrical service and wiring type (knob-and-tube, fuses, panel amperage)?
What were the last 12 months of property taxes, and is there any special assessment?
Is the duplex licensed as a rental in Faribault, and has it been inspected?

Bottom line

Numbers look decent on paper for a 6-bed duplex, but an 1870 build, dated interiors and unverified taxes mean inspect before you trust them. 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.	$3,234
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,577
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 1870: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-05-21 (137 days); last sold for $79,000 on 2002-09-20.

Date	Event	Price
2026-06-25	Relisted	$290,000
2026-06-24	Removed	—
2026-05-21	Listed	$290,000
2002-09-20	Sold public record	$79,000

From the listing Listing

Listed as	duplex up and down
Property tax, 2026	$3,234
County	Rice
Parcel number	1831251117

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Faribault on rental licensing before you buy.