Cash flows150 days on marketPending
6193 49th St N, Oakdale
Triplex · 3 units: 2 bed / 1 bath ×3 unit split estimated · 2,804 sq ft · View the listing ↗
Photos, via Realtor.com.
+$829 monthly cash flow
After every cost, including reserves for vacancy and repairs, this triplex puts about $829 a month in your pocket. That’s a 9.1% yearly return on the $109,250 you’d put in.
At $475,000, 20% down, 7.00% for 30 years, self-managed.
- Cash-on-cash return
- 9.1% Yearly cash flow ÷ cash in
- Cap rate
- 8.5% Return if you paid all cash
- Cash to close
- $109,250 Down payment + closing costs
- Break-even price
- $630,806 Most you can pay and still cash flow
Boardwalk’s take
AI-assisted · checked against public recordsPromising numbers on paper, but with no rents or expenses given, get the rent roll and confirm the lower units are legal before getting excited.
The listing claims it 'checks the 1% rule' but gives no rents, so that claim is unverified. At $475K the 1% rule needs about $4,750 a month across three units. Our estimate is roughly $1,850 per unit as 2-beds, which is a poor fit because this is really a 3-bed, 2-bed and 1-bed. Our underwriting shows about $829 a month in cash flow and a 8.5% cap at the ask, but that rests on estimated rents, not real ones. Photos show dated but clean interiors, with original-looking kitchens and baths, so expect a cosmetic refresh. Get the rent roll, leases and utility setup before a showing. The garage and walkout units are real positives if the lower units are legal and licensed.
Things to consider
- No rents stated Cash flow and the 1% claim depend entirely on actual rents. Our $829 monthly figure uses estimates, not the rent roll.Listing says: “See MLS supplements for current rents.”
- Rent estimates assume 2-beds across all units Real units are 3-bed, 2-bed and 1-bed, so the 3-bed may rent higher and the 1-bed lower. Total income could land above or below our estimate.
- Dated interiors Kitchens and baths look original. You may need to budget for updates to raise rents or fix problems at turnover.From photo 5
- Walkout units need legal verification Lower-level units without proper egress or licensing can't be legally rented. That would cut income and create liability.Listing says: “both with walkout access to the large private backyard”
- Highway proximity Being close to MN 36 may mean noise, which can affect rents, vacancy and resale.
The listing, and how its numbers compare
MLS #7142187What the seller says
Mid-century suburban triplex that checks the 1% rule. The spacious main-floor 3-bedroom unit lives like a single-family home and features a 2-car attached garage. The additional units include a 2-bedroom and a 1-bedroom, both with walkout access to the large private backyard. See MLS supplements for current rents. Bonus detached garage in the rear offers additional storage or income potential. A rare opportunity to own a versatile investment property with strong cash-flow characteristics.
The seller’s numbers vs. ours (yearly)
| Line | Seller | Boardwalk |
|---|---|---|
| Property tax | $4,478 (2026) | — |
Seller’s figures as stated in the listing. Ours include vacancy and reserves, and update with your edits.
The building
- Type
- Triplex
- Year built
- 1958
- Living area
- 2,804 sq ft
- Exterior
- Shakes
- Roof
- Asphalt Shingles, Pitched
- Basement
- Daylight/Lookout Windows, Finished (Livable), Full, Sump Pump, Walkout
Systems and utilities
- Heating
- Forced Air · Natural Gas
- Water / sewer
- City Water · City Sewer
Parking and lot
- Garage
- 4 spaces
- Parking
- Attached Garage, Detached Garage, Driveway - Asphalt, Driveway - Other Surface
- Lot
- 0.36 acres · 104x150
- Outdoor
- Deck, Patio
- Zoning
- Residential-Multi-Family
Description and facts from Realtor.com. View on Realtor.com ↗
The model: change anything
Every input shows where it came from. Edit one and the whole page updates.
Each month
| Rent | $5,550 |
| Vacancy | −$333 |
| Property tax | −$373 |
| Insurance | −$283 |
| Water, sewer, trash | −$255 |
| Repairs and capital reserve | −$888 |
| Net operating income | $3,357 |
| Mortgage (principal + interest) | −$2,528 |
| Cash flow | $829 |
Detailed assumptions
30 years: this building vs. the same money in stocks
The building comes out $2.52M aheadYear 30 (loan paid off): this building $3,351,023, the same money in stocks $831,639.
Monthly cash flow, year 1 to year 30
See it as a line: this building vs. stocks, year by year
Rents +3% a year, costs +3.5%, value +3%, stocks 7%, 6% to sell. Future dollars: at 3% inflation, divide year-30 figures by about 2.4 for today’s buying power. Red bars are months you’d cover out of pocket.
Rent estimate and comparable rentals
2 bed: $1,850/mo · range $1,475–$2,225 · 7 rentals within 1.5 mi · low confidence
Median asking rent of nearby rentals with the same bedroom count (within 1.5 miles): for rent now or leased in the last 3 years (past rents brought to today at 3% a year), from Realtor.com rental listings. Range is the middle half of those rents. Asking rents, not signed leases. Adjustments: $25/unit (garage mentioned in the description). Rent rules: No rent cap.
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 6048 Upper 51st St N, Oakdale | $1,450 | 2 / 1 | 0.2 mi |
| 5680 Hadley Ave N, Oakdale | $1,829 | 2 / 2 | 0.8 mi |
| 2515 7th Ave E, North Saint Paul | $2,595 | 2 / 2 | 0.9 mi |
| 2455 2nd St N, Saint Paul | $1,269 | 2 / 1 | 1.0 mi |
| 3100 Glen Oaks Ave, White Bear Lake | $1,850 | 2 / 2 | 1.2 mi |
| 2290 Anchor Dr, North Saint Paul | $2,201 | 2 / 2 | 1.4 mi |
| 6181 Upper 35th St N, Oakdale | $1,800 | 2 / 2 | 1.4 mi |
Asking rents from Realtor.com listings, not signed leases.
What the photos show
AI review of 10 listing photosPhotos can hide as much as they show; an inspection is the real answer.
Red flags and opportunities
Serious changes whether this is a good buy and keeps it out of our top picks. Check means ask before an offer. Minor is worth knowing. Each one shows its source.
Watch for
- checkRents are not in the description, and the 1% rule claim can't be checked. Listing says: See MLS supplements for current rents. · AI review
- checkLower walkout units: confirm they are legal, licensed units with proper egress and separate systems. Listing says: The additional units include a 2-bedroom and a 1-bedroom, both with walkout access · AI review
- minorProperty sits about 200 meters from MN 36, a trunk highway, so noise may affect rents and tenant appeal. Based on: data: highway · AI review
Opportunities
- Detached rear garage could add storage or garage rental income. Listing says: Bonus detached garage in the rear offers additional storage or income potential. · AI review
- Dated kitchens and baths leave room to add value with a refresh at turnover. Based on: photo 5 · AI review
- Main-floor 3-bed with attached 2-car garage should appeal to family tenants who pay more. Listing says: features a 2-car attached garage · AI review
Questions for the agent
- What are the current rents, lease terms and lease end dates for each unit?
- Is the property licensed as a three-unit rental with Oakdale, and are the lower units legal with egress?
- Who pays heat, electric, water and trash, and how many furnaces, water heaters and meters are there?
- What are the trailing 12 months of expenses and the actual property tax bill?
- How old are the roof, furnace, water heaters and electrical panels?
- Who gets the attached garage, and is the detached garage rented now?
What the records say
Price history · Realtor.com
On the market since 2026-06-05 (150 days, relisted 1×); last sold for $349,900 on 2017-11-30.
| Date | Event | Price |
|---|---|---|
| Listed | $475,000 | |
| Removed | $475,000 | |
| Relisted | $475,000 | |
| Removed | — | |
| Listed | $475,000 | |
| Sold | $349,900 | |
| Listed | $349,900 | |
| Removed | $249,900 | |
| Sold | $120,000 | |
| Price changed | $119,900 | |
| Relisted | $129,900 | |
| Removed | $129,900 | |
| Price changed | $129,900 | |
| Price changed | $147,900 | |
| Price changed | $159,900 | |
| Listed | $175,000 | |
| Price changed | $269,900 | |
| Listed | $279,900 |
County record
| Nearest highway | MN 36, about 0.2 km |
From the listing
| Listed as | Triplex |
| Property tax, 2026 | $4,478 |
| County | Washington |
| Parcel number | 0702921220021 |
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 Oakdale on rental licensing before you buy.
Location
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Educational analysis, not financial, legal or real estate advice. AI-assisted first read of the listing description and photos, checked against public records. Verify with the agent, leases and an inspection. Prepared 2026-11-02.