Four-Bedroom Duplex with Attached
New
For Sale
$418,800
2306 Quail Run, Spirit Lake, IA 51360
RESIDENTIAL, Spirit Lake, IA
Property Size2,712 SF
Lot Size0.17 Acres
Price / SF$154.42
Days on Market6
Property Features for 2306 Quail Run
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2, Basement
Patio and Porch features
Deck
Interior features
Ceiling Fan(s), Garage Door Opener, Hardwood Floors, Main Floor Bedrooms, Main Floor Laundry, Natural Woodwork, Smoke Alarms, Tiled Floors, Vaulted Ceilings, Walk-in Closet, Washer/Dryer Hkups, Wet Bar, Window Coverings
Exterior features
Deck, Driveway-Concrete
Fireplace
1
Basement
Block, Full, Sump Pump
Appliances
Dishwasher, Disposal, Dryer, Exhaust Fan/Hood, Microwave, Range/Stove, Refrigerator, Washer
Lot features
Landscaped, Level, Paved Street(s), Tree Cover- Light, Underground Utilities
Elementary school district
Spirit Lake
Middle school district
Spirit Lake
High school district
Spirit Lake
Subdivision
Dickinson
Standard status
Active
APN
07-05-478-029
Size
2,712 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S1/2 Lot 13, Point North Addition, City of Spirit Lake, DCI (exact legal per abstract)
Tax Annual Amount
3878
HOA Fee
$555 Quarterly
Legal Description
S1/2 Lot 13, Point North Addition, City of Spirit Lake, DCI (exact legal per abstract)
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
swimming pool
clubhouse
fireplace
wet bar
laundry
Building Details
Year built
2006
Floors in Building
2
Roof type
Asphalt
Listing Agency:
Hoien Realty
(712) 336-2790
Listed By:
Marilyn Strickland · License #B15138
(712) 320-7070
Added: Oct 2
Last Checked: Oct 7 at 6:06PM
MLS# 261284
Copyright © 2026 Iowa Great Lakes Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2006, this 2,712-square-foot duplex has four bedrooms and three bathrooms across its main and lower levels. The main floor features two bedrooms, two bathrooms, laundry, and an open living and dining area with a fireplace. Below, a family room with a wet bar sits alongside two additional bedrooms and a bathroom. An attached double garage and deck complete the property.
The 0.167-acre property has public water and sewer service. Association amenities include a swimming pool and clubhouse.
The 0.167-acre property has public water and sewer service. Association amenities include a swimming pool and clubhouse.
Key Highlights
- Four bedrooms and three bathrooms in 2,712 square feet
- Main floor includes two bedrooms, two bathrooms, laundry, and a fireplace
- Lower‑level family room with wet bar, two bedrooms, and a bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,786
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,720
$475.7K
Cap Rate 7%
$339,800
$339.8K
Cap Rate 9%
$264,289
$264.3K
Market Conditions
NOI Build-Up for 2,712 SF
Gross rent
$36.8K $13.56/SF
− Vacancy
−$2.8K −$1.03/SF
EGI
$34.0K $12.53/SF
− OpEx
−$10.2K −$3.76/SF
NOI
$23.8K $8.77/SF
Area
Dickinson County, IA
Vacancy
7.60%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,720
Cap Rate 7%
$339,800
Cap Rate 9%
$264,289
Alternative Uses
Best Use
Multifamily LT 5
$339.8K
$297.3K – $396.4K
NOI $23,786 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$312.9K
$273.8K – $365.0K
NOI $21,901 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$593.2K
$519.1K – $692.1K
NOI $41,526 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Explore this area
Business Placement
Demographics for 51360, IA
8,553
Population
6,638
Households
1.3
Avg Household Size
49
Median Age
35%
College-Educated
97%
High-School Grad
105.2 sq mi
ZIP Area
81
Density / Sq Mi
$77,464
Median Household Income
$41,043
Median Earnings
$1,005
Median Rent
$256,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two levels include a main-floor laundry area, a lower-level family room, and access to association pool and clubhouse amenities.
Where is this duplex located?
The property is located at 2306 Quail Run Spirit Lake, IA.
What is the asking price?
The asking price for this property is $418,800.
What are key features of this property?
This property features: Four bedrooms and three bathrooms in 2,712 square feet; Main floor includes two bedrooms, two bathrooms, laundry, and a fireplace; Lower‑level family room with wet bar, two bedrooms, and a bathroom
