Real Estate Investing in Oklee, Minnesota (56748)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56748 (Oklee, MN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 12.3% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (1.4% CAGR).
• 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 Oklee, MN (56748)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 56748 Oklee
ZIP 56748 inside Red Lake County looks affordable on the surface — median value of $250K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 56748 can be a a viable market for hunting ground — but the discount at $250K reflects genuine risk that outside investors often underestimate.
ZIP 56748's metrics run below Red Lake County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 56748 ZIP's population of 664 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
Strategy in 56748 is an operator game, not a passive one. From an investor standpoint, entry prices of $250K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Oklee:
Market Trends
Home Value History (with trend line)
📊 How Does 56748 Compare?
| Metric | 56748 | Oklee | Minnesota |
|---|---|---|---|
| Home Value | $249,808 | $222,450 | $340,597 |
| 5-Year CAGR | 1.4% | 2.3% | 4.9% |
| Avg Rent | $1,008 | $959 | - |
| Cap Rate | 3.2% | 3.4% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 56748 (Oklee, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $249,808 |
| Monthly Rent | $1,008 |
| Price-to-Rent | 20.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.2% |
| 5-Year IRR | 4.5% |
📈 Home Appreciation
| 1-Year | +8.8% ▲ |
| 3-Year CAGR | +0.2% ▲ |
| 5-Year CAGR | +1.4% ▲ |
| 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 (3.2%). 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 56748
Population: 664
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 56748
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
What is the rental occupancy rate in Oklee, MN?
Rental vacancy in Oklee, MN is elevated. Investors should budget normal turnover but not chronic empty units.
What monthly rent should investors expect in Oklee, MN?
Oklee, MN rentals go for roughly $1,008/mo a month. That puts gross yield in solid territory relative to $250K acquisition costs.
Is Oklee, MN good for landlords?
Rental owners in Oklee, MN deal with a balanced legal framework. Most standard eviction processes run on reasonable timelines.
How should investors approach Oklee, MN?
A careful cash-flow rentals with hands-on management strategy Oklee, MN best. The market produces consistent results for that approach at the $250K price point.
What is the investability score for Oklee, MN?
With a 2.0/5 investability score, Oklee, MN ranks as a solid market for rental property investors. Median prices of $250K and rents of $1,008/mo drive the underlying numbers.
You know 56748 now. You don’t know where it ranks.
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