Real Estate Investing in Richville, Minnesota (56576)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56576 (Richville, 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: 57.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 36.6 — hard to cash-flow at these prices.
• 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 Richville, MN (56576)?
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Market Analysis: 56576 Richville
This part of Otter Tail County is not an easy win. The 56576 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 56576 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
The gap between 56576 and stronger Richville ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
From an investor standpoint, 858 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 56576 is an operator game, not a passive one. From a cash-flow lens, entry prices of $423K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Richville:
Market Trends
Home Value History (with trend line)
📊 How Does 56576 Compare?
| Metric | 56576 | Richville | Fergus Falls, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $423,068 | $423,068 | N/A | $340,597 |
| 5-Year CAGR | 4.8% | 4.8% | N/A | 4.9% |
| Avg Rent | $963 | $963 | N/A | - |
| Cap Rate | 1.8% | 1.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 56576 (Richville, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $423,068 |
| Monthly Rent | $963 |
| Price-to-Rent | 36.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.7% |
| Cap Rate | 1.8% |
| 5-Year IRR | 6.5% |
📈 Home Appreciation
| 1-Year | +5.5% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +4.8% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 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 (1.8%). 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 56576
Population: 858
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
What is the typical rental rate in Richville, MN?
Average rent in Richville, MN is approximately $963/mo per month. Against $423K home values that yields a reasonable rent-to-price ratio.
What is the best play in Richville, MN?
Most investors in Richville, MN run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
How does Richville, MN rate as a rental market?
With a 3.0/5 investability score, Richville, MN ranks as a solid market for rental property investors. Median prices of $423K and rents of $963/mo drive the underlying numbers.
Is Richville, MN suited for a house hack?
The house hack math a challenging in Richville, MN. Owner-occupant buyers benefit from the $963/mo rents and $423K home values.
Are eviction rules reasonable in Richville, MN?
MN ranks as a balanced state for landlord-tenant law. Richville generally follows the statewide framework, so landlords face reasonable operating rules.
You know 56576 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 56576 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 56576 ranks in Fergus Falls, MN
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