Real Estate Investing in Knife River, Minnesota (55609)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55609 (Knife River, MN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 45.8% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 27.3 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Knife River, MN (55609)?
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Market Analysis: 55609 Knife River
Investors eyeing 55609 need to respect the fundamentals at play. Home values of $433K come alongside slower price movement and elevated management overhead.
The investment case in 55609 is significant only for operators who understand what they are buying. A $433K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
In the broader MN picture, 55609 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 55609 ZIP's population of 118 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
The 55609 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Knife River:
Market Trends
Home Value History (with trend line)
📊 How Does 55609 Compare?
| Metric | 55609 | Knife River | Duluth, MN-WI | Minnesota |
|---|---|---|---|---|
| Home Value | $432,610 | $432,610 | N/A | $340,597 |
| 5-Year CAGR | 5.8% | 5.8% | N/A | 4.9% |
| Avg Rent | $1,323 | $1,323 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 55609 (Knife River, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $432,610 |
| Monthly Rent | $1,323 |
| Price-to-Rent | 27.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +7.4% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 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 (2.4%). 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 55609
Population: 118
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
Frequently Asked Questions
Is vacancy a concern in Knife River, MN?
Vacancy risk in Knife River, MN is elevated. That supports even-keeled cash flow for typical rental holds.
What kind of tenants rent in Knife River, MN?
Working renters make up the core of the Knife River, MN tenant base. The pool is reasonable for investors targeting long-term holds.
Is Knife River, MN good for landlords?
MN law balanced for landlords, and Knife River inherits those rules. Investors should still review local ordinances for rental licensing.
What is the typical rental rate in Knife River, MN?
Rental rates in Knife River, MN average $1,323/mo. Tenant demand and $433K home values make the yield look reasonable by investor standards.
Does a duplex house hack pencil in Knife River, MN?
House hacking in Knife River, MN is a challenging. With home values around $433K and rents at $1,323/mo, owner-occupants can offset a meaningful share of PITI.
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