Real Estate Investing in Askov, Minnesota (55704)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55704 (Askov, MN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 19.7% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Askov, MN (55704)?
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Market Analysis: 55704 Askov
This part of Pine is not an easy win. The 55704 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 55704 shows the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
The gap between 55704 and stronger Askov ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The 55704 ZIP's population of 1,076 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that sits at the need for careful underwriting.
The 55704 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 Askov:
Property Strategy for 55704
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $182,431 | $970 | 3.8% | +7.4% | $91,216 |
| 3BR | $253,028 | $1,170 | 3.3% | +8.5% | $84,343 |
Market Trends
Home Value History (with trend line)
📊 How Does 55704 Compare?
| Metric | 55704 | Askov | Minnesota |
|---|---|---|---|
| Home Value | $242,459 | $242,459 | $340,597 |
| 5-Year CAGR | 5.4% | 5.4% | 4.9% |
| Avg Rent | $873 | $873 | - |
| Cap Rate | 2.8% | 2.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 55704 (Askov, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $242,459 |
| Monthly Rent | $873 |
| Price-to-Rent | 23.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 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 (2.8%). 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 55704
Population: 1,076
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
What is the average home sale price in Askov, MN?
Askov, MN median home values land near $242K. That is reasonable territory for investors looking at $873/mo-per-month rentals.
Is it easy to find good tenants in Askov, MN?
Askov, MN offers a reliable renter base at the $873/mo rent level. Tenant turnover is reasonable for well-managed properties.
How landlord-friendly is Askov, MN?
MN law balanced for landlords, and Askov inherits those rules. Investors should still review local ordinances for rental licensing.
Does a duplex house hack pencil in Askov, MN?
House hacking in Askov, MN is reasonable to execute. Prices around $242K and rents of $873/mo solid owner-occupant economics.
What real estate strategy is ideal for Askov, MN?
The best-fit strategy in Askov, MN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 55704 now. You don’t know where it ranks.
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