810 6th St SE

Triplex · 3 units: 4 bed / 1.5 bath ×2 and 3 bed / 1.5 bath unit split estimated · 3,276 sq ft

Minneapolis, MN · Marcy Holmes · View the listing ↗

Far off

36 photos

Photos courtesy of Exp Realty - Broker, via Realtor.com.

Asking price: $949,900
Monthly cash flow: −$2,202
Estimated rent: $6,025/mo
Break-even price: $536,201

Adjust the numbers See the full breakdown

From the listing

Don't miss this turnkey income-producing opportunity in the heart of Dinkytown, steps from the University of Minnesota campus. 806 and 810 6th Street SE are available together as a bundled package - including a shared 20-space parking lot - for a combined purchase price of $1,550,000. When fully occupied these investments have potential to produce combined annual gross income of $171,000 with additional income opportunity with parking and coin-op laundry. This is a cash-flowing asset in a market that virtually never sleeps. 810 6th Street SE is currently operating as a triplex, while 806 6th Street SE a duplex with a clear path to triplex conversion - a value-add play that savvy investors will immediately recognize. Paired together, this package offers both immediate income stability and long-term growth potential in one of Minneapolis's most recession-resistant rental corridors. Please note that the sale of 810 will occur concurrently with 806 6th Street SE (MLS 7068739).

Listing courtesy of Exp Realty - Broker (Marissa Winegarden). Description from Realtor.com, MLS #7068805. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

This is a two-building bundle pitched as turnkey, but the listing gives no rents, no lease terms and no expenses. The $171,000 gross is labeled 'potential when fully occupied,' and that covers both buildings. Our numbers don't work: at $949,900 the building loses about $2,202 a month and the cap rate is 3.6%. Break-even is about $536K. It last sold for $920K in 2021 and the county values it at $687K, so the ask looks high. Ask for the rent roll and trailing-12 first, and find out whether the sale is truly tied to 806. Photos show original-style radiators, older finishes and cosmetic kitchen updates. Only worth a showing if the price drops a lot or the real rents beat our estimates.

Things to consider

Price is well above what the income supports Our model shows about -$2,202 a month and a 3.6% cap rate at ask. You would need a price near $536K to break even.
Income is unverified The $171K is a combined, fully occupied potential, not actual collected rent. Get real rents and expenses before any offer.Listing says: “potential to produce combined annual gross income of $171,000”
Bundled sale You may have to buy two buildings and finance both. 806 also needs conversion work to reach three units.Listing says: “806 6th Street SE a duplex with a clear path to triplex conversion”
Heavy tax load Non-homestead tax of about $13K a year eats a large share of income.
Student rental turnover and wear 11 bedrooms means heavy wear and seasonal vacancy risk. Budget reserves higher.
Highway noise and long time on market I-35W is close, which can reduce rent. The 147 days listed gives you room to negotiate.

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: $949,900
Cash to close: $218,477
Price per unit: $316,633
GRM: 13.1

Each month

Cash flow: −$2,202/mo
Cash-on-cash: −12.1%
Cap rate: 3.6%
DSCR: 0.56×

Break-even

Price that breaks even: $536,201
Rent that breaks even: $8,922/mo

Long run

Year 30: property vs stocks: $2.23M vs $3.17M
Cash flow turns positive: year 23

Monthly

Monthly breakdown

Rent	$6,025
Vacancy (6%)	−$362
Collected	$5,664
Property tax Public record	−$1,088
Insurance Estimate	−$323
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$542
Capital reserve (9% of rent)	−$542
Net operating income	$2,854
Mortgage (principal + interest)	−$5,056
Cash flow	−$2,202
Principal paid down (equity, not cash)	$643

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$2,227,035

Your equity when you sell: $2,167,318
Rental profits, invested at 7%: $59,718

Same money in stocks$3,173,328

Cash to close, invested at 7%: $1,663,103
Monthly shortfalls, invested: $1,510,225

Stocks come out $946,293 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 $2.23M, stocks $3.17M. Stocks win.

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.

4 bed estimate $2,175/mo · range $2,025–$2,900 · 16 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
513 8th Ave SE, Minneapolis	$2,000	4 / 1	—	0.1 mi	2026-02-17	Apartment
806 4th St SE, Minneapolis	$2,200	4 / 2	—	0.1 mi	2026-01-13	Apartment
800 4th St SE, Minneapolis	$2,200	4 / 2	—	0.1 mi	2025-02-21	Apartment
812 4th St SE, Minneapolis	$2,000	4 / 2	—	0.1 mi	2026-01-13	Apartment
711 4th St SE, Minneapolis	$2,900	4 / 2	—	0.2 mi	2024-06-11	Apartment
401 7th Ave SE, Minneapolis	$1,975	4 / 2	—	0.2 mi	2026-05-15	Apartment
628 4th St SE, Minneapolis	$2,000	4 / 1	—	0.2 mi	2025-01-25	Apartment
1103 5th St SE, Minneapolis	$2,000	4 / 1	—	0.2 mi	2025-05-13	Apartment
1014 4th St SE, Minneapolis	$3,300	4 / 2	1,900	0.2 mi	2026-09-25	Apartment
808-810 University Ave SE, Minneapolis	$2,100	4 / 1	—	0.2 mi	2025-03-21	Apartment

3 bed estimate $1,675/mo · range $1,600–$2,000 · 24 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
806-08 5th St SE, Minneapolis	$1,750	3 / 1	—	0.1 mi	2026-05-20	Apartment
811 4th St SE Apt 310, Minneapolis	$1,650	3 / 2	947	0.1 mi	—	Apartment
711 4th St SE, Minneapolis	$2,450	3 / 2	1,215	0.2 mi	2024-06-11	Apartment
1004 7th St SE, Minneapolis	$2,000	3 / 2	—	0.2 mi	2026-06-26	Apartment
721 10th Ave SE, Minneapolis	$1,850	3 / 1	1,100	0.2 mi	2026-03-16	Apartment
417 11th Ave SE, Minneapolis	$1,250	3 / 1	—	0.2 mi	2025-04-29	Apartment
718 University Ave SE, Minneapolis	$1,599	3 / 1	1,000	0.2 mi	2026-09-03	Apartment
808-810 University Ave SE, Minneapolis	$1,600	3 / 1	—	0.2 mi	2025-03-21	Apartment
516 5th St SE, Minneapolis	$1,700	3 / 1	—	0.2 mi	2026-06-24	Apartment
1107 4th St SE, Minneapolis	$1,600	3 / 1	—	0.2 mi	2026-05-20	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

highIncome figure is a potential, not actual, and covers both buildings combined Listing says: potential to produce combined annual gross income of $171,000 · AI review
mediumAbout 67 m from I 35W: traffic noise usually costs $50–100/month in rent. Based on: OpenStreetMap: nearest motorway (I 35W) at 67 m
mediumAsking is $413,699 above the price where cash flow breaks even ($536,201) at the default scenario. Based on: Derived: price $949,900 vs. break-even $536,201
mediumSale is tied to a second building, limiting negotiating room and diligence flexibility Listing says: the sale of 810 will occur concurrently with 806 6th Street SE · AI review
mediumTaxes are high relative to county market value and this is non-homestead Based on: data: county.tax · AI review
mediumPrice is far above county market value and the 2021 sale price is close to the ask Based on: data: county.market_value · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 147 days on market
Shared parking lot could earn extra income in a student area Listing says: including a shared 20-space parking lot · AI review
Coin-op laundry is an additional income stream Listing says: additional income opportunity with parking and coin-op laundry · AI review
Minneapolis has no rent cap, so rents can follow the market Based on: data: underwriting.rent_rule · AI review

Questions for the agent

Can I see the current rent roll, leases and trailing-12 expenses for 810 alone?
Is 810 truly unsellable without 806, and what is the price split?
Who pays heat, water and electric? Is there one boiler or several?
What are the lease terms and is turnover tied to the school year?
What is the boiler age and wiring/panel type?
Why has it been listed 147 days, and have there been price cuts or offers?

Bottom line

Promoted as turnkey, but with no rents given and a loss of about $2,200 a month at asking, it only works at a much lower price. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$13,050
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,871
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 1902: +1 pt capital reserve; 11 bedrooms: +1 pt repairs for wear	9% / 9%

Price history Realtor.com

On the market since 2026-05-11 (147 days); last sold for $920,000 on 2021-08-06.

Date	Event	Price
2026-05-11	Listed	$949,900
2021-08-06	Sold	$920,000
2021-06-04	Listed	$1,010,000
2021-02-13	Removed	$715,000
2019-02-07	Removed	$1,229,000
2019-01-02	Removed	$715,000
2018-12-19	Removed	—
2018-06-06	Relisted	$715,000
2018-06-04	Removed	—
2018-01-24	Relisted	$715,000
2018-01-23	Removed	—
2017-12-08	Relisted	$715,000
2017-12-04	Removed	$715,000
2017-11-27	Listed	$715,000
2017-07-31	Removed	$1,229,000
2017-04-14	Listed	$1,229,000
2017-04-03	Removed	$1,229,000
2017-01-04	Listed	$1,229,000
2015-11-04	Removed	$1,249,000
2015-09-28	Price changed	$1,249,000
2015-07-31	Listed	$1,299,000
2013-04-03	Sold public record	$925,000
2011-12-30	Sold public record	$925,000
2011-06-10	Removed	$535,000
2011-03-24	Price changed	$535,000

County record Public record

Recorded as	triplex
Living units	3
Year built	1902
Market value (2026)	$687,200
Property tax	$13,050
Special assessments	none
Homestead	no
Last sale	2021-08-01 · $920,000

Source: Hennepin County parcel records.

City rental license

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

Nearest highway

I 35W, about 67 m away.

Crime in Marcy Holmes

866 incidents in the last 12 months (57 per 1,000 residents), +35% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).