1940 35th Street Spirit Lake, IA 51360
DUPLEX - Ranch - Spirit Lake, IA
- Added:
- Nov 7, 2025
- Days on Market:
- 246
- Last Refresh:
- Jul 11 at 1:06 pm
Property Features for 1940 35th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 4, Basement, Bathroom 2
- Patio and Porch features
- Patio
- Interior features
- Main Floor Bedrooms, Main Floor Laundry
- Exterior features
- Driveway-Concrete, Patio
- Fireplace
- 1
- Basement
- Concrete, Full
- Appliances
- Cooktop, Refrigerator, Wall Oven
- Standard status
- Active
- APN
- 07-08-200-092
- Size
- 2,439 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- W'LY PT LOT 8 AKA PAR "B" HAWTHORN PARK NORTH, SPIRIT LAKE, DCI. (Exact legal per Abstract.)
- Tax Annual Amount
- 4154
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2022
- Floors in Building
- 1
- Building materials
- Smart Board
- Roof type
- Asphalt
- Architectural style
- Ranch
Listing agent Kirk Stauss License #B38506 (712) 320-0123
Listing office Stauss Realty 1003 Hwy. 71 S PO Box 521, Okoboji, IA (712) 332-2470
Listing date Nov 7, 2025
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.
Located in Spirit Lake, Iowa at 1940 35th Street, the property is positioned for convenient access. Public remarks note it sits right off Sunner Avenue, placing everyday destinations within reach of local shops, restaurants, and other area amenities.
As an owner-occupant or income-focused option, the layout supports multiple living and sleeping configurations across both levels, while the lower level’s added living area and storage can help accommodate different household needs. The outdoor patio view and indoor fireplace provide practical comfort features, and the overall near-new finish level can reduce near-term maintenance concerns for a new tenancy or next move-in.
Key Highlights
- Near‑new ranch‑style duplex built in 2022
- Open main‑level layout with kitchen/living area and main‑floor bedrooms plus main‑floor laundry
- Lower level adds a second living area, additional bedrooms, and lots of storage (basement included)
Local 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 | $33.1k | $13.56 |
| − Vacancy | −$2.5k | −$1.03 |
| EGI | $30.6k | $12.53 |
| − OpEx | −$9.2k | −$3.76 |
| NOI | $21.4k | $8.77 |
