Renovated Duplex with Lakeside
10585 Crowley Avenue Spirit Lake, IA 51360
New
For Sale
$779,000
DUPLEX - Spirit Lake, IA
Property Size3,628 SF
Lot Size0.30 Acres
Price / SF$214.72
Days on Market5
Property Features for 10585 Crowley Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Basement
Standard status
Active
APN
0311428030
Size
3,628 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ANGLER'S BAY FARM TOWNSHIP:100 SPIRIT LAKE TOWNSHIP LAKESHORE TRT INOUTLOT A 91.57' ON THE RDCOMM GRD
Tax Annual Amount
6446
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Private
Water front
1
Building Details
Year built
1986
Floors in Building
1
Building materials
Hardboard
Listing Agency:
EXIT Realty Midwest
(712) 336-3405
Listed By:
Brad Sanderson · License #B41901
(712) 320-9610
Added: Jul 25
Changed: Jul 29
Last Checked: Jul 29 at 9:06PM
MLS# 260870
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 completely renovated duplex offers a turnkey setup with residential income potential, designed for low-maintenance living. The property is configured as a duplex and has been updated throughout, providing a ready-to-occupy option for year-round use or weekend stays.
Situated on the shores of Big Spirit Lake, the duplex provides west-facing views over the water. The setting supports lake-focused recreation, including fishing in the region, and the home’s orientation is highlighted by west-facing sunsets each evening.
Offered for sale as a fully renovated duplex, this lakeside property centers on the combination of an updated interior and an on-water setting at Big Spirit Lake.
Situated on the shores of Big Spirit Lake, the duplex provides west-facing views over the water. The setting supports lake-focused recreation, including fishing in the region, and the home’s orientation is highlighted by west-facing sunsets each evening.
Offered for sale as a fully renovated duplex, this lakeside property centers on the combination of an updated interior and an on-water setting at Big Spirit Lake.
Key Highlights
- Completely renovated duplex on the shores of Big Spirit Lake
- West‑facing lake views with sunsets over the water
- Year built 1986 with forced‑air heating and central air conditioning
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.2k | $13.56 |
| − Vacancy | −$3.7k | −$1.03 |
| EGI | $45.5k | $12.53 |
| − OpEx | −$13.6k | −$3.76 |
| NOI | $31.8k | $8.77 |
3,628 SF · lease $13.56/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$454.6K
$397.8K – $530.3K
NOI $31,820 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$418.6K
$366.2K – $488.3K
NOI $29,299 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$793.6K
$694.4K – $925.9K
NOI $55,552 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Completely renovated duplex on Big Spirit Lake shores with west-facing views and a turnkey finish.
Where is this duplex located?
The property is located at 10585 Crowley Avenue Spirit Lake, IA.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Completely renovated duplex on the shores of Big Spirit Lake; West‑facing lake views with sunsets over the water; Year built 1986 with forced‑air heating and central air conditioning
