Real Estate Investing in Fisher, Minnesota (56723)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56723 (Fisher, MN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.1% vacancy may signal weakening demand.
• 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 Fisher, MN (56723)?
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Market Analysis: 56723 Fisher
Investors eyeing 56723 need to respect the fundamentals at play. Home values of $284K come alongside slower price movement and elevated management overhead.
Stepping back, the numbers look inviting — $284K purchase price, 0.0% nominal cap — the work to hit that pro forma in 56723 is substantial and deserves full respect.
In the broader MN picture, 56723 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
A durable renter share of 17% in 56723 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Distressed ZIPs reward experience. substantial returns are possible in 56723, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Fisher:
Property Strategy for 56723
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $232,622 | $1,630 | 5.0% | +5.2% | $77,541 |
| 4BR | $295,676 | $1,960 | 4.8% | +6.1% | $73,919 |
Market Trends
Home Value History (with trend line)
📊 How Does 56723 Compare?
| Metric | 56723 | Fisher | Grand Forks, ND-MN | Minnesota |
|---|---|---|---|---|
| Home Value | $284,476 | $284,476 | N/A | $340,597 |
| 5-Year CAGR | 6.0% | 6.0% | N/A | 4.9% |
| Avg Rent | $1,053 | $1,053 | N/A | - |
| Cap Rate | 2.9% | 2.9% | - | - |
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 56723 (Fisher, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $284,476 |
| Monthly Rent | $1,053 |
| Price-to-Rent | 22.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +8.5% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +4.9% ▲ |
🏠 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 (2.9%). 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 56723
Population: 912
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 56723
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 745 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Fisher, MN a good market for buy-and-hold investors?
Fisher, MN rates 3.0/5 for investability. With median values at $284K and rents near $1,053/mo, the market offers reasonable fundamentals for rental investors.
What do rentals go for in Fisher, MN?
Fisher, MN rentals go for roughly $1,053/mo a month. That puts gross yield in solid territory relative to $284K acquisition costs.
Is housing expensive in Fisher, MN?
Expect median prices around $284K in Fisher, MN. The market has run at a 0.0% 5-year CAGR, so entry costs have been even-keeled.
What is the rental occupancy rate in Fisher, MN?
Expect elevated vacancy in Fisher, MN. Rents at $1,053/mo are absorbed by the tenant base without meaningful lag.
How should investors approach Fisher, MN?
A careful cash-flow rentals with hands-on management strategy Fisher, MN best. The market produces stable results for that approach at the $284K price point.
You know 56723 now. You don’t know where it ranks.
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How 56723 ranks in Grand Forks, ND-MN
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