Real Estate Investing in Merrifield, Minnesota (56465)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56465 (Merrifield, 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: 45.4% of homes vacant — above national norms.
- Higher unemployment: 8.0% unemployment — tenant risk signal.
- High price-to-rent: Price-to-rent ratio 39.9 — 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 Merrifield, MN (56465)?
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Market Analysis: 56465 Merrifield
ZIP 56465 inside Crow Wing County looks affordable on the surface — median value of $465K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $972/mo on a $465K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 56465 sits below the stated 0.0% once reality is priced in.
Within MN, ZIP 56465 trails on several market indicators that neighboring Crow Wing County submarkets outperform. The gap is real and impressive enough to shape underwriting.
Employment concentration in 56465 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 56465 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Merrifield:
Property Strategy for 56465
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $362,215 | $1,080 | 2.1% | +10.2% | $181,107 |
| 3BR | $462,318 | $1,310 | 2.0% | +8.4% | $154,106 |
| 4BR | $590,224 | $1,540 | 1.9% | +8.8% | $147,556 |
Market Trends
Home Value History (with trend line)
📊 How Does 56465 Compare?
| Metric | 56465 | Merrifield | Brainerd, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $465,252 | $465,252 | N/A | $340,597 |
| 5-Year CAGR | 6.6% | 6.6% | N/A | 4.9% |
| Avg Rent | $972 | $972 | N/A | - |
| Cap Rate | 1.6% | 1.6% | - | - |
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 56465 (Merrifield, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $465,252 |
| Monthly Rent | $972 |
| Price-to-Rent | 39.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.5% |
| Cap Rate | 1.6% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +7.7% ▲ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 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 (1.6%). 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 56465
Population: 2,313
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
🎓 Nearby Colleges & Universities
Investor Insight: With 3,226 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do experienced investors play Merrifield, MN?
Investors usually favor careful cash-flow rentals with hands-on management in Merrifield, MN. With home values at $465K and rents near $972/mo, other strategies can work but produce stable rather than outsized returns.
Does Merrifield, MN make sense for an investment property?
Merrifield, MN rates 3.0/5 for investability. With median values at $465K and rents near $972/mo, the market offers reasonable fundamentals for rental investors.
Is housing expensive in Merrifield, MN?
The median home value in Merrifield, MN is roughly $465K. That puts it reasonable relative to the MN statewide average.
Are eviction rules reasonable in Merrifield, MN?
MN law balanced for landlords, and Merrifield inherits those rules. Investors should still review local ordinances for rental licensing.
Is it easy to find good tenants in Merrifield, MN?
Expect a solid tenant pool in Merrifield, MN. The rental market absorbs $972/mo rents without meaningful friction.
You know 56465 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 56465 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 56465 ranks in Brainerd, MN
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