Real Estate Investing in Grand Rapids, Minnesota (55744)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55744 (Grand Rapids, 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: 12.8% of homes vacant — above national norms.
What’s happening in Grand Rapids, MN (55744)?
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Market Analysis: 55744 Grand Rapids
ZIP 55744 inside Itasca County looks affordable on the surface — median value of $287K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 55744 can be a a solid fit for hunting ground — but the discount at $287K reflects genuine risk that outside investors often underestimate.
Within MN, ZIP 55744 trails on several market indicators that neighboring Itasca County submarkets outperform. The gap is real and healthy enough to shape underwriting.
On balance, 20,469 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Distressed ZIPs reward experience. solid returns are possible in 55744, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Grand Rapids:
Property Strategy for 55744
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $185,137 | $900 | 3.5% | +8.3% | $185,137 |
| 2BR | $246,357 | $1,130 | 3.3% | +8.3% | $123,178 |
| 3BR | $280,488 | $1,470 | 3.8% | +8.1% | $93,496 |
| 4BR | $342,206 | $1,600 | 3.4% | +7.8% | $85,551 |
| 5BR | $404,630 | — | — | +8.2% | $80,926 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 55744 Compare?
| Metric | 55744 | Grand Rapids | Grand Rapids, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $286,679 | $286,679 | N/A | $340,597 |
| 5-Year CAGR | 5.4% | 5.4% | N/A | 4.9% |
| Avg Rent | $1,225 | $1,225 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 55744 (Grand Rapids, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $286,679 |
| Monthly Rent | $1,225 |
| Price-to-Rent | 19.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | +5.6% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 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 (3.3%). 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 55744
Population: 20,469
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 55744
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.
Frequently Asked Questions
How high is vacancy risk in Grand Rapids, MN?
Vacancy risk in Grand Rapids, MN is elevated. That supports reliable cash flow for typical rental holds.
Is Grand Rapids, MN a friendly market for rental owners?
Grand Rapids, MN falls under MN landlord-tenant law, which is balanced. That backdrop makes day-to-day property management reasonable.
What does house hacking look like in Grand Rapids, MN?
For house hackers, Grand Rapids, MN is a challenging. The $1,225/mo rent on a unit helps defray the mortgage on a $287K property.
What are rental rates like in Grand Rapids, MN?
Average rent in Grand Rapids, MN is approximately $1,225/mo per month. Against $287K home values that yields a reasonable rent-to-price ratio.
Are homes affordable in Grand Rapids, MN?
Grand Rapids, MN median home values land near $287K. That is reasonable territory for investors looking at $1,225/mo-per-month rentals.
You know 55744 now. You don’t know where it ranks.
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How 55744 ranks in Grand Rapids, MN
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