Real Estate Investing in Long Prairie, Minnesota (56347)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56347 (Long Prairie, 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: 12.1% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Long Prairie, MN (56347)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 56347 Long Prairie
This part of Todd County is not an easy win. The 56347 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 56347 is resilient only for operators who understand what they are buying. A $263K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Long Prairie have seen price recovery that 56347 has not matched. Todd County data supports the view that the spread is structural rather than temporary.
Employment concentration in 56347 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The 56347 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 Long Prairie:
Market Trends
Home Value History (with trend line)
📊 How Does 56347 Compare?
| Metric | 56347 | Long Prairie | Minnesota |
|---|---|---|---|
| Home Value | $263,361 | $263,361 | $340,597 |
| 5-Year CAGR | 6.4% | 6.4% | 4.9% |
| Avg Rent | $936 | $936 | - |
| Cap Rate | 2.8% | 2.8% | - |
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 56347 (Long Prairie, MN). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 56347 (Long Prairie, MN)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $263,361 |
| Monthly Rent | $936 |
| Price-to-Rent | 23.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +9.0% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 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 (2.8%). 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 56347
Population: 8,067
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 56347
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
Is Long Prairie, MN suited for a house hack?
House hacking works a challenging in Long Prairie, MN. Rents of $936/mo against $263K acquisition make the strategy solid for owner-occupants.
What is the renter demographic in Long Prairie, MN?
The renter base in Long Prairie, MN is reasonable for the $936/mo price point. Screening well and pricing to market typically yields measured tenants.
How does Long Prairie, MN stack up for property investment?
The 3.0/5 investability rating in Long Prairie, MN reflects its $263K prices and $936/mo rents. Investors generally consider it a solid option within MN.
Does Long Prairie, MN favor landlords or tenants?
Long Prairie, MN falls under MN landlord-tenant law, which is balanced. That backdrop makes day-to-day property management reasonable.
What is the average home sale price in Long Prairie, MN?
Long Prairie, MN home values average about $263K. That price point suits investors targeting rentals with $936/mo in monthly income.
You know 56347 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 56347 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.
AI Market Advisor
Ask questions about investing in 56347 (Long Prairie)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 56347 (Long Prairie, MN).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.