Real Estate Investing in Bigfork, Minnesota (56628)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56628 (Bigfork, 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: 60.9% 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 Bigfork, MN (56628)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 56628 Bigfork
Not every below-median market is a bargain. Bigfork's 56628 ZIP sits at signals that favor experienced operators who can absorb the risk $253K pricing implies.
For an experienced owner, 56628 can be a a solid fit for hunting ground — but the discount at $253K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Bigfork have seen price recovery that 56628 has not matched. Itasca County data supports the view that the spread is structural rather than temporary.
Who lives in 56628 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 56628 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 Bigfork:
Property Strategy for 56628
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $241,746 | $1,290 | 3.8% | +7.5% | $120,873 |
| 3BR | $316,840 | $1,680 | 3.8% | +7.7% | $105,613 |
Market Trends
Home Value History (with trend line)
📊 How Does 56628 Compare?
| Metric | 56628 | Bigfork | Grand Rapids, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $253,055 | $253,055 | N/A | $340,597 |
| 5-Year CAGR | 4.7% | 4.7% | N/A | 4.9% |
| Avg Rent | $1,161 | $1,161 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
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 56628 (Bigfork, MN). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 56628 (Bigfork, MN)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $253,055 |
| Monthly Rent | $1,161 |
| Price-to-Rent | 18.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 8.3% |
📈 Home Appreciation
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +3.3% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 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 (3.6%). 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 56628
Population: 1,649
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 56628
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
Are rents high in Bigfork, MN?
Average rent in Bigfork, MN is approximately $1,161/mo per month. Against $253K home values that yields a reasonable rent-to-price ratio.
Does house hacking make sense in Bigfork, MN?
For house hackers, Bigfork, MN is a challenging. The $1,161/mo rent on a unit helps defray the mortgage on a $253K property.
How does Bigfork, MN rate as a rental market?
Our data puts Bigfork, MN at 3.0/5 for investability. Home prices of $253K and rents around $1,161/mo create a solid backdrop for investor activity.
What real estate strategy is ideal for Bigfork, MN?
The best-fit strategy in Bigfork, MN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What are vacancy rates like in Bigfork, MN?
Bigfork, MN carries elevated vacancy risk. Expect consistent absorption at market rents of $1,161/mo.
You know 56628 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 56628 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 56628 ranks in Grand Rapids, MN
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 56628 (Bigfork)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 56628 (Bigfork, MN).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.