Real Estate Investing in Gonvick, Minnesota (56644)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56644 (Gonvick, 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: 38.8% 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 Gonvick, MN (56644)?
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Market Analysis: 56644 Gonvick
ZIP 56644 inside Clearwater County looks affordable on the surface — median value of $225K — but the discount exists for reasons that a careful buyer should understand before committing.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $225K asset, 56644 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 56644 and stronger Gonvick ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A healthy renter share of 19% in 56644 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 56644 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 Gonvick:
Market Trends
Home Value History (with trend line)
📊 How Does 56644 Compare?
| Metric | 56644 | Gonvick | Minnesota |
|---|---|---|---|
| Home Value | $224,699 | $224,699 | $340,597 |
| 5-Year CAGR | 7.0% | 7.0% | 4.9% |
| Avg Rent | $873 | $873 | - |
| Cap Rate | 3.0% | 3.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 56644 (Gonvick, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $224,699 |
| Monthly Rent | $873 |
| Price-to-Rent | 21.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.0% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +10.7% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 56644
Population: 746
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 price range are homes in Gonvick, MN?
Typical homes in Gonvick, MN go for around $225K. The 5-year CAGR of 0.0% steady price movement.
What is it like being a landlord in Gonvick, MN?
Rental owners in Gonvick, MN deal with a balanced legal framework. Most standard eviction processes run on reasonable timelines.
How strong is tenant demand in Gonvick, MN?
The renter base in Gonvick, MN is reasonable for the $873/mo price point. Screening well and pricing to market typically yields reliable tenants.
How viable is house hacking in Gonvick, MN?
House hacking in Gonvick, MN is reasonable to execute. Prices around $225K and rents of $873/mo solid owner-occupant economics.
What do rentals go for in Gonvick, MN?
Expect rents around $873/mo per month in Gonvick, MN. With home values at $225K, the yield math works out to reasonable levels for rental investors.
You know 56644 now. You don’t know where it ranks.
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