Real Estate Investing in Kelliher, Minnesota (56650)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56650 (Kelliher, 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: 31.0% 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 Kelliher, MN (56650)?
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Market Analysis: 56650 Kelliher
From an investor standpoint, ZIP 56650 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $193K median. It rewards specialists, not generalists.
The 56650 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Nearby ZIPs in Kelliher have seen price recovery that 56650 has not matched. Beltrami County data supports the view that the spread is structural rather than temporary.
Demographically, 56650 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategically, 56650 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 Kelliher:
Market Trends
Home Value History (with trend line)
📊 How Does 56650 Compare?
| Metric | 56650 | Kelliher | Bemidji, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $193,090 | $193,090 | N/A | $340,597 |
| 5-Year CAGR | 4.8% | 4.8% | N/A | 4.9% |
| Avg Rent | $891 | $891 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 56650 (Kelliher, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $193,090 |
| Monthly Rent | $891 |
| Price-to-Rent | 18.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +5.6% ▲ |
| 3-Year CAGR | +3.6% ▲ |
| 5-Year CAGR | +4.8% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 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 56650
Population: 932
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 56650
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
Does Kelliher, MN make sense for an investment property?
Yes - Kelliher, MN a 3.0/5 investability score. With $193K home prices against $891/mo monthly rent, the market delivers a reasonable entry point for new investors.
What do rentals go for in Kelliher, MN?
Kelliher, MN rentals go for roughly $891/mo a month. That puts gross yield in solid territory relative to $193K acquisition costs.
Are there empty rentals in Kelliher, MN?
Vacancy risk in Kelliher, MN is elevated. That supports predictable cash flow for typical rental holds.
Does Kelliher, MN favor landlords or tenants?
Kelliher, MN falls under MN landlord-tenant law, which is balanced. That backdrop makes day-to-day property management reasonable.
Is housing expensive in Kelliher, MN?
Expect median prices around $193K in Kelliher, MN. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
You know 56650 now. You don’t know where it ranks.
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