Real Estate Investing in Nicollet, Minnesota (56074)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56074 (Nicollet, MN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
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 29.0 — 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 Nicollet, MN (56074)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 56074 Nicollet
ZIP 56074 in Nicollet, MN carries a notable set of headwinds. Home values near $332K and rents of $954/mo sit inside a market where underwriting has to be tight.
The 56074 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within MN, ZIP 56074 trails on several market indicators that neighboring Nicollet County submarkets outperform. The gap is real and significant enough to shape underwriting.
The demographic picture in 56074 includes headwinds that any investor should price in. Income distribution skews lower than Nicollet averages, and tenant stability requires active management.
The 56074 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 Nicollet:
Property Strategy for 56074
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $284,339 | $1,490 | 3.8% | +6.6% | $94,780 |
| 4BR | $332,720 | $1,780 | 3.9% | +6.3% | $83,180 |
| 5BR | $389,973 | — | — | +6.7% | $77,995 |
Market Trends
Home Value History (with trend line)
📊 How Does 56074 Compare?
| Metric | 56074 | Nicollet | Mankato, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $331,881 | $331,881 | N/A | $340,597 |
| 5-Year CAGR | 5.8% | 5.8% | N/A | 4.9% |
| Avg Rent | $954 | $954 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
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 56074 (Nicollet, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $331,881 |
| Monthly Rent | $954 |
| Price-to-Rent | 29.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.2% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +9.1% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 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 56074
Population: 1,850
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 56074
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,211 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average home sale price in Nicollet, MN?
The median home value in Nicollet, MN is roughly $332K. That puts it reasonable relative to the MN statewide average.
Does house hacking work in Nicollet, MN?
House hacking in Nicollet, MN is a challenging. With home values around $332K and rents at $954/mo, owner-occupants can offset a meaningful share of PITI.
What approach is best for Nicollet, MN real estate?
Most investors in Nicollet, MN run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
How do landlord-tenant laws work in Nicollet, MN?
Rental owners in Nicollet, MN deal with a balanced legal framework. Most standard eviction processes run on reasonable timelines.
What is the typical rental rate in Nicollet, MN?
Nicollet, MN rentals go for roughly $954/mo a month. That puts gross yield in solid territory relative to $332K acquisition costs.
You know 56074 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 56074 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 56074 ranks in Mankato, MN
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