Real Estate Investing in Spicer, Minnesota (56288)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56288 (Spicer, 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: 28.0% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 39.1 — 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 Spicer, MN (56288)?
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Market Analysis: 56288 Spicer
Investors eyeing 56288 need to respect the fundamentals at play. Home values of $409K come alongside slower price movement and elevated management overhead.
For an experienced owner, 56288 can be a a credible choice for hunting ground — but the discount at $409K reflects genuine risk that outside investors often underestimate.
The gap between 56288 and stronger Spicer ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 56288 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 56288 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 Spicer:
Property Strategy for 56288
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $427,209 | $1,350 | 2.3% | +7.7% | $142,403 |
| 4BR | $515,026 | $1,640 | 2.3% | +7.9% | $128,757 |
Market Trends
Home Value History (with trend line)
📊 How Does 56288 Compare?
| Metric | 56288 | Spicer | Willmar, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $409,364 | $409,364 | N/A | $340,597 |
| 5-Year CAGR | 5.9% | 5.9% | N/A | 4.9% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 1.7% | 1.7% | - | - |
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 56288 (Spicer, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $409,364 |
| Monthly Rent | $873 |
| Price-to-Rent | 39.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.6% |
| Cap Rate | 1.7% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +7.7% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 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 (1.7%). 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 56288
Population: 4,655
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 56288
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 1,690 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How deep is the rental pool in Spicer, MN?
Tenant quality in Spicer, MN ranks as solid. Landlords generally report even-keeled occupancy at market rents of $873/mo.
Is Spicer, MN a smart market for rental property?
Our data puts Spicer, MN at 3.0/5 for investability. Home prices of $409K and rents around $873/mo create a solid backdrop for investor activity.
Is housing expensive in Spicer, MN?
Homes in Spicer, MN typically sell near $409K. Prices have moved at a 0.0% 5-year CAGR, which reliable long-term demand.
Is Spicer, MN suited for a house hack?
Spicer, MN is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $409K price point reasonable to enter.
What investment strategy works best in Spicer, MN?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Spicer, MN. The numbers - $409K homes against $873/mo rents - support that play.
You know 56288 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 56288 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 56288 ranks in Willmar, MN
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