Real Estate Investing in Waskish, Minnesota (56685)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56685 (Waskish, MN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 80.4% 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 Waskish, MN (56685)?
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Market Analysis: 56685 Waskish
Investors eyeing 56685 need to respect the fundamentals at play. Home values of $156K come alongside slower price movement and elevated management overhead.
Rent of $891/mo on a $156K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 56685 sits below the stated 0.0% once reality is priced in.
Regionally, 56685 sits on the difficult end of the MN spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 56685 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 56685 is an operator game, not a passive one. From a cash-flow lens, entry prices of $156K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Waskish:
Market Trends
Home Value History (with trend line)
📊 How Does 56685 Compare?
| Metric | 56685 | Waskish | Bemidji, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $155,845 | $155,845 | N/A | $340,597 |
| 5-Year CAGR | N/A | N/A | N/A | 4.9% |
| Avg Rent | $891 | $891 | N/A | - |
| Cap Rate | 4.5% | 4.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 56685 (Waskish, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $155,845 |
| Monthly Rent | $891 |
| Price-to-Rent | 14.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.9% |
| Cap Rate | 4.5% |
| 5-Year IRR | 14.3% |
📈 Home Appreciation
| 1-Year | +14.2% ▲ |
| 3-Year CAGR | +9.8% ▲ |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 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 (4.5%). 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.
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Demographics in 56685
Population: 86
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
How do home values compare in Waskish, MN?
Median home price in Waskish, MN is near $156K, with a 5-year CAGR of 0.0%. Prices have been steady and supportive of buy-and-hold strategies.
Is the tenant base reliable in Waskish, MN?
Tenant quality in Waskish, MN ranks as solid. Landlords generally report steady occupancy at market rents of $891/mo.
Is Waskish, MN a smart market for rental property?
Waskish, MN records an investability rating of 2.0/5, with median home values near $156K and average rents around $891/mo. That combination puts it in the robust tier for investor interest.
Can I live-in-and-rent in Waskish, MN?
Waskish, MN offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $891/mo rent level.
Is Waskish, MN landlord-friendly?
Landlord-friendliness in Waskish, MN is balanced. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 56685 now. You don’t know where it ranks.
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