Real Estate Investing in Wanamingo, Minnesota (55983)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55983 (Wanamingo, 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 price-to-rent: Price-to-rent ratio 29.4 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Wanamingo, MN (55983)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 55983 Wanamingo
The 55983 ZIP covers a section of Wanamingo that demands careful diligence. Prices near $308K look accessible, but the work to make a deal cash flow is real.
Rent of $873/mo on a $308K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 55983 sits below the stated 0.0% once reality is priced in.
Within MN, ZIP 55983 trails on several market indicators that neighboring Goodhue County submarkets outperform. The gap is real and notable enough to shape underwriting.
Resident income in 55983 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 55983 is an operator game, not a passive one. From an investor standpoint, entry prices of $308K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Wanamingo:
Market Trends
Home Value History (with trend line)
📊 How Does 55983 Compare?
| Metric | 55983 | Wanamingo | Red Wing, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $308,233 | $308,233 | N/A | $340,597 |
| 5-Year CAGR | 4.0% | 4.0% | N/A | 4.9% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 55983 (Wanamingo, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $308,233 |
| Monthly Rent | $873 |
| Price-to-Rent | 29.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 6.2% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | +4.0% ▲ |
| 10-Year CAGR | +6.6% ▲ |
🏠 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 (2.2%). 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 55983
Population: 1,671
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 55983
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
Does Wanamingo, MN make sense for an investment property?
Our data puts Wanamingo, MN at 3.0/5 for investability. Home prices of $308K and rents around $873/mo create a solid backdrop for investor activity.
Does house hacking make sense in Wanamingo, MN?
House hacking in Wanamingo, MN is a challenging. With home values around $308K and rents at $873/mo, owner-occupants can offset a meaningful share of PITI.
What is the rental occupancy rate in Wanamingo, MN?
Vacancy risk in Wanamingo, MN is elevated. That supports reliable cash flow for typical rental holds.
How much should I expect to pay for a home in Wanamingo, MN?
The median home value in Wanamingo, MN is roughly $308K. That puts it reasonable relative to the MN statewide average.
What is the average monthly rent in Wanamingo, MN?
Average rent in Wanamingo, MN is approximately $873/mo per month. Against $308K home values that yields a reasonable rent-to-price ratio.
You know 55983 now. You don’t know where it ranks.
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How 55983 ranks in Red Wing, MN
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