Zero-Entry
New
For Sale
$459,500
3308 Ponderosa Court, Spirit Lake, IA 51360
RESIDENTIAL, Spirit Lake, IA
Property Size1,486 SF
Lot Size0.22 Acres
Price / SF$309.22
Days on Market6
Property Features for 3308 Ponderosa Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 3
Interior features
Ceiling Fan(s), Garage Door Opener, Kitchen Center Island, Main Floor Bedrooms, Main Floor Laundry, Walk-in Closet, Washer/Dryer Hkups
Exterior features
Driveway-Concrete, In-Grnd Sprklr Sys
Fireplace
1
Appliances
Dishwasher, Disposal, Microwave, Range/Stove, Refrigerator
Lot features
Level
Elementary school district
Spirit Lake
Middle school district
Spirit Lake
High school district
Spirit Lake
Subdivision
Dickinson
Standard status
Active
APN
0709156004
Size
1,486 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
624
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
electric fireplace
covered patio
Building Details
Year built
2026
Floors in Building
1
Building materials
Stone, Smart Board
Roof type
Asphalt
Architectural style
Contemporary
Listing Agency:
RE/MAX Lakes Realty · RE/MAX International
(712) 336-4967
Listed By:
Janie Eick · License #S66795
(712) 339-0574
Added: Oct 2
Last Checked: Oct 7 at 12:06PM
MLS# 261288
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.
This 1,486-square-foot duplex is under construction on a 0.2193-acre lot. The zero-entry layout includes three bedrooms and two bathrooms, with an open living area, an electric fireplace, and luxury vinyl plank flooring. The kitchen has quartz countertops and a center island; both bathrooms feature solid surface countertops. A private covered patio extends the living space outdoors.
The property is located along the Dickinson County bike trail. Additional features include main-floor laundry, a walk-in closet, central air, forced-air heat, and a concrete driveway.
The property is located along the Dickinson County bike trail. Additional features include main-floor laundry, a walk-in closet, central air, forced-air heat, and a concrete driveway.
Key Highlights
- 1,486‑square‑foot duplex under construction
- Three bedrooms and two bathrooms in a zero‑entry layout
- 0.2193‑acre lot with a private covered patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,033
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,660
$260.7K
Cap Rate 7%
$186,186
$186.2K
Cap Rate 9%
$144,811
$144.8K
Market Conditions
NOI Build-Up for 1,486 SF
Gross rent
$20.2K $13.56/SF
− Vacancy
−$1.5K −$1.03/SF
EGI
$18.6K $12.53/SF
− OpEx
−$5.6K −$3.76/SF
NOI
$13.0K $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%
$260,660
Cap Rate 7%
$186,186
Cap Rate 9%
$144,811
Alternative Uses
Best Use
Multifamily LT 5
$186.2K
$162.9K – $217.2K
NOI $13,033 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$171.4K
$150.0K – $200.0K
NOI $12,001 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$325.1K
$284.4K – $379.2K
NOI $22,754 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
60
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Three bedrooms, two baths, and a covered patio complement the no-step design.
Where is this duplex located?
The property is located at 3308 Ponderosa Court Spirit Lake, IA.
What is the asking price?
The asking price for this property is $459,500.
What are key features of this property?
This property features: 1,486‑square‑foot duplex under construction; Three bedrooms and two bathrooms in a zero‑entry layout; 0.2193‑acre lot with a private covered patio
