House Flipping Report
Neighborhood Data
Pelican Rapids, MN 56572
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Successfully flipping a house depends on a number of different factors including population growth, increasing housing prices and cheap houses for sale. We are analyzing thousands of data points for Pelican Rapids, MN . If these factors exist, there is a good chance that a successful flip is possible.
By looking at recent sales data in Otter Tail County , we've been able to rank it against its peer counties within Minnesota. To provide an even fuller picture, we also ranked Minnesota against all other US states.
Region
Rank in # of Flips
Rank in Flip Profit
Minnesota
#24th in US
#24th in US
Otter Tail County
#56th in MN
#51st in MN
Number of Flips: We identify house flips as houses that are bought and sold within 12 months excluding forclosures, REOs and multi-parcel sales.
Flip Profit: The profit is the gross margin calculated by subtracting the original purchase price from the new resale price.
Latest Median Sale Price
$ 327,000
-0% YoY Change
Latest Monthly Sales Count
67
List Price /sqft
$239
-6% from last quarter
Average Home Sqft
$1,938
-0.25% from last year
In order to successfully flip houses, you need the population of the area to be trending northward, which appears to be the case with Otter Tail County . This is a good sign that flipping a house here will be successful.
Region
Population
Change YoY
Rank
Minnesota
5,611,179
0.77%
#22nd in US
Otter Tail County
58,812
0.96%
#17th in MN
56572
5,454
#31st in MN
FlipMarket is the industry standard for providing you the exact data needed to see if flipping a house will be successful. To find properties for sale that may fit your budget and be house flipping candidates, check this list of popular searches.
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