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    Lake Mills, IA
    Residential Income

    Lake Mills, IA Residential Income Properties for Sale

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    Northwood, IA Kiester, MN Forest City, IA Thompson, IA Walters, MN Glenville, MN Albert Lea, MN Bricelyn, MN
    Triplex Income Property with Garage
    Updated: Jul 6
    Triplex Income Property with Garage

    403 S 4Th Avenue E, Lake Mills, IA 50450

    $109,900
    1,811 sqft 0.48 AC lot
    Triplex built in 1890 with slate and wood siding
    3 units total: two main‑level apartments (efficiency and 1‑bedroom) plus a spacious upper‑level 2‑bedroom
    New boiler installed in 2025
    0.48‑acre lot with outdoor space plus a detached double garage
    Public water service; utilities are currently included in the rent
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    8-Unit Apartment Building
    Updated: Jun 5
    8-Unit Apartment Building

    207 S Lake Street, Lake Mills, IA 50450

    $150,000
    0.20 AC lot
    8 apartments with 6 one‑bedroom units and 2 two‑bedroom units
    Several units feature newer flooring and paint
    0.2‑acre lot at 207 S Lake Street, Lake Mills, IA 50450
    Vinyl siding construction
    Hot water heating
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    8-Plex Residential Income Property
    8-Plex Residential Income Property

    207 S Lake St, Lake Mills, IA 50450

    $150,000

    8-plex rental property with six one-bedroom and two two-bedroom apartments, with select units updated with newer flooring and paint.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 12 Potential Opportunities for your consideration. Besides 3 Active listings in Lake Mills, IA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 1 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Well-Maintained Duplex with Central A/C
    Well-Maintained Duplex with Central A/C

    308 S 12th Street, Clear Lake, IA 50428

    $287,500
    1,243 sqft 0.16 AC lot

    Duplex with refreshed interiors, including new central A/C units for comfortable, move-in-ready rental or owner-occupant living.

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    Quadplex with Commercial Space
    Quadplex with Commercial Space

    220 E 7th Street, Albert Lea, MN 56007

    $249,900
    2,800 sqft 0.16 AC lot

    Four-unit property with a flexible commercial area, detached garage, carport, and gravel parking lot.

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    Duplex with Attached Garages
    Duplex with Attached Garages

    815 817 W 10 Avenue N, Clear Lake, IA 50428

    $299,000
    2,580 sqft 0.22 AC lot

    Two residential units offer separate living spaces, garages, and unfinished basements for storage or future improvements.

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    All-Age Mobile Home Community
    All-Age Mobile Home Community

    705 E 18th Street, Albert Lea, MN 56007

    Contact for pricing

    111-site all-age community with 68% occupancy and city water and sewer billed back to tenants.

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    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Residential Buildable Lot
    Residential Buildable Lot

    114 Main St, Walters, MN 56097

    Contact for pricing
    0.23 AC lot

    Build your next home on a small residential lot with utilities available nearby in a quiet Walters community.

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    Residential Lot in Quiet Neighborhood
    Residential Lot in Quiet Neighborhood

    1629 Seath Drive, Albert Lea, MN 56007

    $35,000
    1.17 AC lot

    Residential lot in Albert Lea, Minnesota, totaling 1.174 acres.

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    Residential Land in Albert Lea
    Residential Land in Albert Lea

    1609 Country Club Road, Albert Lea, MN 56007

    $49,000
    1.06 AC lot

    1.06 acre residential land for sale in Albert Lea, MN.

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    Interstate Commercial Development Land
    Interstate Commercial Development Land

    21133 775th St, Albert Lea, MN 56007

    $975,000
    6.50 AC lot

    Commercial land with IDD zoning, utility availability, and direct connectivity to Interstate 35 and East Main Street.

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    Off-Market Properties in Lake Mills, IA

    Consider similar Off-Market properties in Lake Mills, IA. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    704 Lk St
    MOBILE HOME PARK, TRAILER PARK

    704 Lk St, Lake Mills, IA 50450-1032

    $280,000
    Estimated value
    2.75 AC lot
    View details

    Lake Mills, IA Residential Income Properties Market Trends and Statistics

    Explore 4 residential income properties for sale in Lake Mills, IA, showcased through 3 active listings on our real estate platform. These investment opportunities span a total of 1,811 square feet of properties for sale, with an estimated market value of $409,900.

    Sale prices for residential income properties in Lake Mills, IA start at $109,900, averaging $136,633, and reaching up to $150,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Multifamily properties 3
    Apartment buildings 2
    Triplexes 1

    Demographics Overview

    Population 3,001
    Population Growth (5Y) +10.9%
    Median Household Income $76,522
    College Educated 23.2%

    High-Yield Neighborhoods for Investment

    Identify Lake Mills submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    50450 $109.9K

    Taxes & Financing

    Tax Rate (average for all types) 2.47%
    Property Tax per SF $24.95 per SF
    Tax Rate vs County Average 0.26 pp above county avg
    Average Loan-to-Value 65.0%

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