Real Estate Investing in Hendricks, Minnesota (56136)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56136 (Hendricks, 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: 28.6% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hendricks, MN (56136)?
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Market Analysis: 56136 Hendricks
This part of Lincoln County is not an easy win. The 56136 ZIP records softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 56136 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 56136 among MN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 56136 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The 56136 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Hendricks:
Market Trends
Home Value History (with trend line)
📊 How Does 56136 Compare?
| Metric | 56136 | Hendricks | Brookings, SD | Minnesota |
|---|---|---|---|---|
| Home Value | $242,513 | $242,513 | N/A | $340,597 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 4.9% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
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 56136 (Hendricks, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $242,513 |
| Monthly Rent | $873 |
| Price-to-Rent | 23.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +12.5% ▲ |
| 3-Year CAGR | +8.4% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 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 (2.8%). 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 56136
Population: 1,231
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 56136
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 are home prices like in Hendricks, MN?
In Hendricks, MN the median home value sits at $243K. Against the broader MN market, that reads as reasonable for most investors.
How much rent can I charge in Hendricks, MN?
Average rent in Hendricks, MN is approximately $873/mo per month. Against $243K home values that yields a reasonable rent-to-price ratio.
What is the renter demographic in Hendricks, MN?
Tenant demand in Hendricks, MN is solid. The local workforce $873/mo rents across most rental classes.
Do landlords face vacancy issues in Hendricks, MN?
Occupancy in Hendricks, MN runs even-keeled with elevated vacancy. Well-priced units at $873/mo lease on reasonable timelines.
Is Hendricks, MN landlord-friendly?
The landlord environment in Hendricks, MN is balanced. Statewide rules shape most day-to-day operations for rental owners.
You know 56136 now. You don’t know where it ranks.
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How 56136 ranks in Brookings, SD
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