Real Estate Investing in Andover, Minnesota (55304)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55304 (Andover, MN)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
No major risk flags on the data we track.
What’s happening in Andover, MN (55304)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 55304 Andover
Investors eyeing 55304 need to respect the fundamentals at play. Home values of $464K come alongside slower price movement and elevated management overhead.
From an investor standpoint, the numbers look inviting — $464K purchase price, 0.0% nominal cap — the work to hit that pro forma in 55304 is substantial and deserves full respect.
In the broader MN picture, 55304 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 55304 ZIP's population of 49,452 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
Strategy in 55304 is an operator game, not a passive one. From an investor standpoint, entry prices of $464K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Andover:
Property Strategy for 55304
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $354,091 | $2,080 | 4.2% | +5.2% | $177,046 |
| 3BR | $407,069 | $2,750 | 4.9% | +5.5% | $135,690 |
| 4BR | $473,262 | $3,080 | 4.7% | +5.7% | $118,316 |
| 5BR | $550,334 | — | — | +6.0% | $110,067 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 55304 Compare?
| Metric | 55304 | Andover | Minnesota |
|---|---|---|---|
| Home Value | $464,492 | $464,492 | $340,597 |
| 5-Year CAGR | 3.4% | 3.4% | 4.9% |
| Avg Rent | $2,759 | $2,759 | - |
| Cap Rate | 4.6% | 4.6% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 55304 (Andover, MN). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 55304 (Andover, MN)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $464,492 |
| Monthly Rent | $2,759 |
| Price-to-Rent | 14.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.1% |
| Cap Rate | 4.6% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +3.4% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 55304
Population: 49,452
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 55304
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 6,491 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is housing expensive in Andover, MN?
Andover, MN home values average about $464K. That price point suits investors targeting rentals with $2,759/mo in monthly income.
How strong is tenant demand in Andover, MN?
Working renters make up the core of the Andover, MN tenant base. The pool is reasonable for investors targeting long-term holds.
What monthly rent should investors expect in Andover, MN?
Average rent in Andover, MN is approximately $2,759/mo per month. Against $464K home values that yields a reasonable rent-to-price ratio.
How landlord-friendly is Andover, MN?
The landlord environment in Andover, MN is balanced. Statewide rules shape most day-to-day operations for rental owners.
Which real estate strategy fits Andover, MN?
The best-fit strategy in Andover, MN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 55304 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 55304 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 55304 ranks in Minneapolis-St. Paul-Bloomington, MN-WI
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 55304 (Andover)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 55304 (Andover, MN).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.