Real Estate Investing in Drake, North Dakota (58736)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 58736 (Drake, ND)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 19.5% 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 Drake, ND (58736)?
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Market Analysis: 58736 Drake
The 58736 ZIP in Drake, ND is a local-operator market. Outside capital chasing a $88K entry has to pair deep knowledge with the discount.
The 58736 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
ZIP 58736's metrics run below McHenry County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 58736 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 58736 is an operator game, not a passive one. On the rental side, entry prices of $88K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Drake:
Market Trends
Home Value History (with trend line)
📊 How Does 58736 Compare?
| Metric | 58736 | Drake | Minot, ND | North Dakota |
|---|---|---|---|---|
| Home Value | $88,105 | $88,105 | N/A | $278,677 |
| 5-Year CAGR | N/A | N/A | N/A | 3.7% |
| Avg Rent | $810 | $810 | N/A | - |
| Cap Rate | 7.2% | 7.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58736 (Drake, ND). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $88,105 |
| Monthly Rent | $810 |
| Price-to-Rent | 9.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 11.0% |
| Cap Rate | 7.2% |
| 5-Year IRR | 2.1% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | -5.1% ▼ |
| 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%) is close to the estimated cap rate (7.2%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 58736
Population: 430
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 58736
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
Which investment style suits Drake, ND?
Investors usually favor careful cash-flow rentals with hands-on management in Drake, ND. With home values at $88K and rents near $810/mo, other strategies can work but produce predictable rather than outsized returns.
What is the renter demographic in Drake, ND?
Tenant quality in Drake, ND ranks as solid. Landlords generally report consistent occupancy at market rents of $810/mo.
Is Drake, ND landlord-friendly?
ND law landlord-friendly for landlords, and Drake inherits those rules. Investors should still review local ordinances for rental licensing.
Does house hacking work in Drake, ND?
House hacking in Drake, ND is reasonable to execute. Prices around $88K and rents of $810/mo solid owner-occupant economics.
How strong is Drake, ND for real estate investors?
Drake, ND scores 3.0/5 for investability. Home values sit at $88K and rents near $810/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 58736 now. You don’t know where it ranks.
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