Real Estate Investing in Bovey, Minnesota (55709)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55709 (Bovey, 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: 36.4% 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 Bovey, MN (55709)?
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Market Analysis: 55709 Bovey
The 55709 ZIP covers a section of Bovey that demands careful diligence. Prices near $248K look accessible, but the work to make a deal cash flow is real.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $248K asset, 55709 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 55709 and stronger Bovey ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A sturdy renter share of 9% in 55709 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 55709 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Bovey:
Property Strategy for 55709
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $218,839 | $1,110 | 3.7% | +8.0% | $109,420 |
| 3BR | $283,463 | $1,450 | 3.7% | +7.8% | $94,488 |
Market Trends
Home Value History (with trend line)
📊 How Does 55709 Compare?
| Metric | 55709 | Bovey | Minnesota |
|---|---|---|---|
| Home Value | $248,208 | $248,208 | $340,597 |
| 5-Year CAGR | 5.0% | 5.0% | 4.9% |
| Avg Rent | $999 | $999 | - |
| Cap Rate | 3.1% | 3.1% | - |
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 55709 (Bovey, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $248,208 |
| Monthly Rent | $999 |
| Price-to-Rent | 20.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +5.0% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 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 (3.1%). 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 55709
Population: 4,314
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 Bovey, MN a good place for real estate investing?
With a 3.0/5 investability score, Bovey, MN ranks as a solid market for rental property investors. Median prices of $248K and rents of $999/mo drive the underlying numbers.
Are rents high in Bovey, MN?
Average rent in Bovey, MN is approximately $999/mo per month. Against $248K home values that yields a reasonable rent-to-price ratio.
What kind of vacancy should I budget for in Bovey, MN?
Expect elevated vacancy in Bovey, MN. Rents at $999/mo are absorbed by the tenant base without meaningful lag.
Is Bovey, MN a good market for FHA house hackers?
The house hack math a challenging in Bovey, MN. Owner-occupant buyers benefit from the $999/mo rents and $248K home values.
Is it easy to find good tenants in Bovey, MN?
Bovey, MN offers a measured renter base at the $999/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 55709 now. You don’t know where it ranks.
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