Is Detroit Lakes, MN a good place to invest in rental property?

Detroit Lakes, MN has a median modeled monthly cash flow of $-406 and a median cap rate of 5.2%, on a median sold price of $348,000. Prices changed +4.3% year over year.

What is the average cap rate in Detroit Lakes, MN?

The median cap rate across recently sold homes in Detroit Lakes, MN is 5.2%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Detroit Lakes, MN?

The median sold price in Detroit Lakes, MN is $348,000 (about $194 per square foot).

Investing in Detroit Lakes, MN Real Estate

A data-driven snapshot of the Detroit Lakes, MN rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$348,000Median sold price

$194Median $/sqft

5.2%Median cap rate

$-406Modeled cash flow / mo

+4.3%Appreciation YoY

5.4Months of supply

144Active listings

321Sold (last 12 mo)

What the Detroit Lakes numbers say

In Detroit Lakes, MN, the median home sold for $348,000 (about $194 per square foot), and the typical deal models out to a 5.2% cap rate with a median $-406 of monthly cash flow. Sold prices moved +4.3% over the past year. Inventory sits at about 5.4 months of supply. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Minnesota markets to compare

See Detroit Lakes cash-flowing listings

CashFlowRE ranks every for-sale home in Detroit Lakes, MN by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Detroit Lakes deals, or browse the national market data.