Real Estate Investing in Garrison, North Dakota (58540)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 58540 (Garrison, ND)? 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: 21.0% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 27.5 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Garrison, ND (58540)?
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Market Analysis: 58540 Garrison
This part of McLean County is not an easy win. The 58540 ZIP comes in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 58540 is solid only for operators who understand what they are buying. A $258K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
The gap between 58540 and stronger Garrison ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 58540 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Garrison's stable or hybrid ZIPs before stepping into 58540. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Garrison:
Property Strategy for 58540
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $140,505 | $870 | 4.5% | +4.6% | $70,252 |
| 3BR | $250,155 | $1,210 | 3.5% | +4.8% | $83,385 |
| 4BR | $273,816 | $1,470 | 3.9% | +4.6% | $68,454 |
| 5BR | $370,799 | — | — | — | $74,160 |
Market Trends
Home Value History (with trend line)
📊 How Does 58540 Compare?
| Metric | 58540 | Garrison | North Dakota |
|---|---|---|---|
| Home Value | $258,373 | $258,373 | $278,677 |
| 5-Year CAGR | 5.0% | 5.0% | 3.7% |
| Avg Rent | $783 | $783 | - |
| Cap Rate | 2.4% | 2.4% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58540 (Garrison, ND). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $258,373 |
| Monthly Rent | $783 |
| Price-to-Rent | 27.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.4% |
| 5-Year IRR | 7.4% |
📈 Home Appreciation
| 1-Year | +8.4% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +3.5% ▲ |
🏠 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 (2.4%). 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 58540
Population: 2,986
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 58540
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
Are renters plentiful in Garrison, ND?
Garrison, ND draws a consistent base of working renters. Demand at the $783/mo rent level is reasonable for standard single-family and small multi rentals.
Is ND a landlord-friendly state?
The landlord environment in Garrison, ND is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What investment strategy works best in Garrison, ND?
Most investors in Garrison, ND run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Can I live-in-and-rent in Garrison, ND?
The house hack math a challenging in Garrison, ND. Owner-occupant buyers benefit from the $783/mo rents and $258K home values.
Do landlords face vacancy issues in Garrison, ND?
Rental vacancy in Garrison, ND is elevated. Investors should budget normal turnover but not chronic empty units.
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