717 6th Ave S

Duplex · 2 units: 3 bed / 2 bath ×2 unit split estimated · 3,127 sq ft

32 photos

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

Asking price: $609,000
Monthly cash flow: −$348
Estimated rent: $5,350/mo
Break-even price: $543,632

Adjust the numbers See the full breakdown

From the listing

Discover an outstanding investment opportunity in the highly sought-after City of Hopkins with this exceptional side-by-side duplex offering the perfect blend of strong rental income and owner-occupant flexibility. Each spacious unit features 3 bedrooms, 2 bathrooms, an oversized attached garage, two bedrooms on the main level, one lower-level bedroom, a large and functional floor plan, and separate utilities so each tenant pays their own expenses. One side is available for an owner-occupant or a new tenant, while the other is leased through **April 30, 2027** at **$2,430 per month**, and the second unit is currently rented **month-to-month at $2,300 per month**, creating immediate cash flow with future flexibility. This turnkey property has been extensively updated with a new roof (2022), new garage doors on both units, new furnaces (2022 and 2024), new water heaters (2025), updated appliances, new front entry concrete, and numerous additional improvements, making it truly move-in ready. Situated in a wonderful neighborhood just minutes from vibrant Downtown Hopkins, you'll enjoy easy access to award-winning restaurants, coffee shops, breweries, shopping, entertainment, and the beloved Hopkins Raspberry Festival, along with nearby Valley Park, the scenic Nine Mile Creek Regional Trail, and Hopkins' incredible network of regional trails connecting to Minneapolis, Lake Minnetonka, and beyond for endless biking, walking, and outdoor recreation. The property is also conveniently located near major highways and the future Metro Green Line Extension, adding even more long-term convenience and value. This is an outstanding opportunity to own a beautifully maintained duplex in one of the west metro's most desirable communities-an investment you won't want to miss.

Listing courtesy of RE/MAX Results (Ryan Fischer). Description from Realtor.com, MLS #7112458. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a 1970 side-by-side duplex in Hopkins asking $609K, and at that price it loses money. Our underwriting shows about -$350 a month with 20% down, a 5.7% cap rate, and a break-even price near $544K. Stated rents are $2,430 on a lease through April 2027 and $2,300 month-to-month, and both sit below our $2,675 mid estimate, so there's some rent upside, but not enough to close the gap. The description says one side is open to an owner-occupant or a new tenant, which conflicts with it listing two rented units, so get a rent roll first. After 74 days on market, there's likely room to negotiate, but the price needs to fall meaningfully before it works as a pure rental.

Things to consider

Negative cash flow at asking Our model shows about -$350 a month and a 5.7% cap rate. The deal only works with a price drop or an owner-occupant plan.
Rents are below our estimate, but not by enough The $2,430 and $2,300 rents are under our $2,675 mid estimate, so raising them helps but is unlikely to fully cover the gap.
One tenant is month-to-month That unit could turn over soon after closing. Budget for vacancy and turnover costs.Listing says: “currently rented **month-to-month at $2,300 per month**”
Taxes and unit count are unverified The address didn't match a county parcel. Non-homestead taxes on a $609K price could be much higher than the seller's bill.
Recent updates reduce near-term capex A roof from 2022, newer furnaces and new water heaters mean fewer big surprises in the first few years.Listing says: “new roof (2022)”

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

Unit 1: $2,430 (lease)Listing says: the other is leased through **April 30, 2027** at **$2,430 per month**
Unit 2: $2,300 (month-to-month)Listing says: currently rented **month-to-month at $2,300 per month**

Condition and repairs

doneNew roof (2022)Listing says: new roof (2022)
doneNew garage doors on both unitsListing says: new garage doors on both units
doneNew furnaces (2022 and 2024)Listing says: new furnaces (2022 and 2024)
doneNew water heaters (2025)Listing says: new water heaters (2025)
doneNew front entry concreteListing says: new front entry concrete

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: $609,000
Cash to close: $140,070
Price per unit: $304,500
GRM: 9.5

Each month

Cash flow: −$348/mo
Cash-on-cash: −3.0%
Cap rate: 5.7%
DSCR: 0.89×

Break-even

Price that breaks even: $543,632
Rent that breaks even: $5,796/mo

Long run

Year 30: property vs stocks: $2.17M vs $1.14M
Cash flow turns positive: year 6

Monthly

Monthly breakdown

Rent	$5,350
Vacancy (6%)	−$321
Collected	$5,029
Property tax Listing	−$834
Insurance Estimate	−$215
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$428
Capital reserve (8% of rent)	−$428
Net operating income	$2,893
Mortgage (principal + interest)	−$3,241
Cash flow	−$348
Principal paid down (equity, not cash)	$412

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$2,170,894

Your equity when you sell: $1,389,511
Rental profits, invested at 7%: $781,383

Same money in stocks$1,138,899

Cash to close, invested at 7%: $1,066,249
Monthly shortfalls, invested: $72,651

The building comes out $1,031,995 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 $2.17M, stocks $1.14M. 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 / 2 bath estimate $2,675/mo · range $2,675–$2,675

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
6310 Vernon Ave S, Edina 55436 off market	$3,490	3 / 3	3,200	1.5 mi	2026-04-06	92%
6304 Vernon Ave S, Edina 55436 off market	$2,990	3 / 3	3,000	1.5 mi	2026-05-10	92%
7400 7400 Hwy, # 7-202, Saint Louis Park 55426 off market	$3,250	3 / 2	1,750	2.4 mi	2026-09-24	86%
7400 Highway, 7 Apt 202, Saint Louis Park 55426 off market	$3,250	3 / 2	1,750	2.4 mi	2026-09-29	86%
63 7th Ave S, Unit 2, Hopkins 55343 off market	$3,250	3 / 1	1,900	0.6 mi	2025-01-29	85%
7000 Meg Grace Ln, Eden Prairie 55344 off market	$2,525	3 / 2	1,522	2.5 mi	2026-07-13	84%
1219 Oxford St, Hopkins 55343 off market	$1,950	4 / 2	—	1.8 mi	2026-03-16	82%
5309 Malibu Dr, Edina 55436 off market	$3,100	3 / 3	3,100	0.6 mi	2026-05-30	80%
47 6th Ave S, Hopkins 55343 off market	$2,950	3 / 2.5	2,500	0.7 mi	2025-10-28	77%
47 1/2 6th Ave S, Hopkins 55343 off market	$2,950	3 / 2.5	2,500	0.7 mi	2026-02-22	77%

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

highPrice is far above what the rents support; roughly $140K over our break-even Based on: data: underwriting.break_even_price · 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 717 6TH AVE S
mediumDescription says one side is open for an owner-occupant or new tenant, yet also describes two rented units. Occupancy is unclear. Listing says: One side is available for an owner-occupant or a new tenant · AI review
lowMonth-to-month tenants can leave quickly. Count on turnover soon after closing. Listing says: "and the second unit is currently rented ** month-to-month at $2,300 per month**, creating immediate cash flow"
low74 days on market suggests buyers are balking at the price Based on: data: listing.days_on_market · AI review

Opportunities

Mostly recent system updates (roof, furnaces, water heaters) should keep near-term capex low Listing says: new furnaces (2022 and 2024) · AI review
Separate utilities mean tenants pay their own, so owner expenses stay low Listing says: separate utilities so each tenant pays their own expenses · AI review

Questions for the agent

Which unit is actually vacant, and what rent has it been getting? Can I see the rent roll and signed leases?
Are the units separately metered for gas, electric, and water, and who pays trash and sewer?
What are the real property taxes, and is the duplex classified as non-homestead?
Is the rental license current, and when was the last city inspection?
Why has it sat 74 days, and have there been price cuts or offers?
What is the age and condition of the electrical panels and the basement bedrooms' egress windows?

Bottom line

Clean, updated duplex with below-market rents, but at $609K it runs about $350 a month negative and only makes sense near $544K or as an owner-occupant play. 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.	$10,013
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,582
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. base rate	8% / 8%

Price history Realtor.com

On the market since 2026-07-23 (74 days); last sold for $555,000 on 2022-04-15; listed for rent at $1,400/mo on 2014-05-13.

Date	Event	Price
2026-07-23	Listed	$609,000
2022-04-15	Sold	$555,000
2022-03-10	Listed	$499,000
2017-05-11	Sold public record	$297,000
2014-05-16	Rental removed	$1,395/mo
2014-05-15	Rental removed	$1,400/mo
2014-05-13	Rent changed	$1,400/mo
2014-03-28	Rent changed	$1,495/mo
2014-03-10	Listed for rent	$1,550/mo
2011-12-05	Sold public record	$290,000
2007-12-21	Sold public record	$230,000
2007-12-11	Sold public record	$177,000
1998-01-09	Sold public record	$80,000

From the listing Listing

Listed as	duplex side x side
Property tax, 2026	$10,013
County	Hennepin
Parcel number	2511722420036

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 Hopkins on rental licensing before you buy.