Real Estate Investing in Pipestone, Minnesota (56164)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56164 (Pipestone, 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.
- Elevated vacancy: 9.0% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Pipestone, MN (56164)?
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Market Analysis: 56164 Pipestone
Not every below-median market is a bargain. Pipestone's 56164 ZIP clocks in at signals that favor experienced operators who can absorb the risk $191K pricing implies.
Rent of $873/mo on a $191K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 56164 sits below the stated 0.0% once reality is priced in.
Regionally, 56164 sits on the difficult end of the MN spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
Who lives in 56164 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 56164 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Pipestone:
Market Trends
Home Value History (with trend line)
📊 How Does 56164 Compare?
| Metric | 56164 | Pipestone | Minnesota |
|---|---|---|---|
| Home Value | $191,465 | $191,465 | $340,597 |
| 5-Year CAGR | 5.3% | 5.3% | 4.9% |
| Avg Rent | $873 | $873 | - |
| Cap Rate | 3.6% | 3.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 56164 (Pipestone, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $191,465 |
| Monthly Rent | $873 |
| Price-to-Rent | 18.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | +8.1% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 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 (3.6%). 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 56164
Population: 5,573
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 56164
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 expensive is real estate in Pipestone, MN?
Homes in Pipestone, MN typically sell near $191K. Prices have moved at a 0.0% 5-year CAGR, which stable long-term demand.
Is Pipestone, MN good for landlords?
Pipestone, MN operates under MN law, which is balanced overall for landlords. Expect consistent treatment in typical lease and eviction cases.
Which investment style suits Pipestone, MN?
In Pipestone, MN the substantial play is typically careful cash-flow rentals with hands-on management. The combination of $191K prices and $873/mo rents suits that approach.
Can owner-occupants cash flow in Pipestone, MN?
House hacking in Pipestone, MN is a challenging. With home values around $191K and rents at $873/mo, owner-occupants can offset a meaningful share of PITI.
How strong is tenant demand in Pipestone, MN?
The tenant pool in Pipestone, MN is solid, supported by local employment and population fundamentals. Rents of $873/mo are well-absorbed by the market.
You know 56164 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 56164 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.
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