Real Estate Investing in Garrison, Minnesota (56450)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56450 (Garrison, MN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 54.2% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Garrison, MN (56450)?
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Market Analysis: 56450 Garrison
Not every below-median market is a bargain. Garrison's 56450 ZIP reflects signals that favor experienced operators who can absorb the risk $277K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $277K asset, 56450 is the wrong submarket. If the plan prices in friction, the yield can still work.
On balance, 56450 offers a low basis, the region around Garrison has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 56450 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 56450 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 Garrison:
Property Strategy for 56450
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $251,481 | $1,190 | 3.4% | — | $125,741 |
| 3BR | $344,824 | $1,430 | 3.0% | +7.5% | $114,941 |
Market Trends
Home Value History (with trend line)
📊 How Does 56450 Compare?
| Metric | 56450 | Garrison | Brainerd, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $276,648 | $276,648 | N/A | $340,597 |
| 5-Year CAGR | 5.6% | 5.6% | N/A | 4.9% |
| Avg Rent | $1,071 | $1,071 | N/A | - |
| Cap Rate | 3.0% | 3.0% | - | - |
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 56450 (Garrison, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $276,648 |
| Monthly Rent | $1,071 |
| Price-to-Rent | 21.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.0% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +3.5% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 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 (3.0%). 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 56450
Population: 969
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
Frequently Asked Questions
How do experienced investors play Garrison, MN?
Garrison, MN investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($277K prices, $1,071/mo rents) make it a reasonable choice.
Is MN a landlord-friendly state?
MN law balanced for landlords, and Garrison inherits those rules. Investors should still review local ordinances for rental licensing.
Is Garrison, MN a good place for real estate investing?
The 3.0/5 investability rating in Garrison, MN reflects its $277K prices and $1,071/mo rents. Investors generally consider it a solid option within MN.
Is house hacking profitable in Garrison, MN?
For house hackers, Garrison, MN is a challenging. The $1,071/mo rent on a unit helps defray the mortgage on a $277K property.
Should investors worry about vacancy in Garrison, MN?
Vacancy risk in Garrison, MN is elevated. That supports measured cash flow for typical rental holds.
You know 56450 now. You don’t know where it ranks.
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How 56450 ranks in Brainerd, MN
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