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    Spencer, IA
    Residential Income

    Spencer, IA Residential Income Properties for Sale

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    Fostoria, IA Everly, IA Milford, IA West Okoboji, IA Spirit Lake, IA Arnolds Park, IA Ruthven, IA Peterson, IA
    Renovation-Ready 6-Plex
    Updated: Feb 24
    Renovation-Ready 6-Plex

    21 W 1ST ST, Spencer, IA 51301

    $175,000
    4,308 sqft 0.12 AC lot
    6‑plex in Spencer, IA with partial remodeling—2 of 6 units currently rented
    Value‑add setup with 4 remaining units to renovate and lease up for increased cash flow
    Built in 1949, offering baseboard heating and window unit cooling
    Property includes 5 bedrooms and 3 bathrooms across the unit mix (as listed in rooms)
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    Three-Unit Residential Income Property
    Updated: Dec 8, 2025
    Three-Unit Residential Income Property

    807 4th Avenue, Spencer, IA 51301

    $63,000
    0.18 AC lot
    3‑unit investment property in Spencer with public water and public sewer
    Year built 1900 with vinyl siding and an asphalt shingle roof
    Forced‑air heating system
    Interior includes 6 bedrooms and 3 bathrooms across the units
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    Retail Building with Residential Units
    Retail Building with Residential Units

    519 Grand Ave, Spencer, IA 51301

    $329,900

    Established retail space with two occupied apartments on Grand Avenue in Spencer, offering combined commercial and residential income.

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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    68-Unit Concrete Apartment Building
    68-Unit Concrete Apartment Building

    110 4th Street SE, Spencer, IA 51301

    Contact for pricing

    Well-built concrete multifamily with individually metered electric and A/C in all units.

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    Based on your search, we've compiled 14 Potential Opportunities for your consideration. Besides 4 Active listings in Spencer, IA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 2 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.

    Lakefront Duplex Retreat
    Lakefront Duplex Retreat

    16822 255th Street, Spirit Lake, IA 51360

    $1,990,000
    3,834 sqft

    New construction duplex with a walk-out lower level and direct access to 57' of lakeshore.

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    Contemporary Duplex on Spirit Lake
    Contemporary Duplex on Spirit Lake

    16822 255th Street, Spirit Lake, IA 51360

    $1,990,000
    3,848 sqft

    New construction duplex designed for comfortable lake living.

    View details
    Golf Course Patio Home
    Golf Course Patio Home

    1018 Emerald Hills Drive, Arnolds Park, IA 51331

    $595,000
    1,885 sqft

    Move-in ready duplex on Emerald Hills Golf Course.

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    Duplex Patio Home on Golf Course
    Duplex Patio Home on Golf Course

    1018 Emerald Hills Drive, Arnolds Park, IA 51331

    $595,000
    1,885 sqft 0.11 AC lot

    Impeccably maintained duplex with a stamped concrete patio overlooking the 9th hole, fully furnished and move-in ready.

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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.

    Prime Waterfront Land on Okoboji
    Prime Waterfront Land on Okoboji

    2204 Manhattan Boulevard, Wahpeton, IA 51351

    $3,795,000
    0.63 AC lot

    Incredible West Lake Okoboji building lot with stunning views.

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    Commercial Lots in Graettinger, Iowa
    Commercial Lots in Graettinger, Iowa

    N Cedar Avenue, Graettinger, IA 51342

    $34,999
    0.79 AC lot

    Two bare lots, commercially zoned, potential for residential rezoning.

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    Estherville Land for Dream Home
    Estherville Land for Dream Home

    1663 365th Avenue, Estherville, IA 51334

    Contact for pricing
    0.67 AC lot

    Elite Country Club Estates lot ready for your dream home.

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    Undeveloped Land Near Five Island
    Undeveloped Land Near Five Island

    N Huron Road, Emmetsburg, IA 50536

    $294,000
    18.85 AC lot

    18.85 acres of land near Five Island Lake.

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    Off-Market Properties in Spencer, IA

    Consider similar Off-Market properties in Spencer, 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.

    317 18th St
    MOBILE HOME PARK, TRAILER PARK

    317 18th St, Spencer, IA 51301-3400

    Value Estimation by Request
    3.75 AC lot
    View details
    317 11th SE St
    MOBILE HOME PARK, TRAILER PARK

    317 11th SE St, Spencer, IA 51301-6045

    Value Estimation by Request
    8,738 sqft 1.65 AC lot
    View details

    Spencer, IA Residential Income Properties Market Trends and Statistics

    Explore 6 residential income properties for sale in Spencer, IA, showcased through 4 active listings on our real estate platform. These investment opportunities span a total of 4,308 square feet of properties for sale, with an estimated market value of $567,900.

    Sale prices for residential income properties in Spencer, IA start at $63,000, averaging $189,300, and reaching up to $329,900 — 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 12K
    Population Growth (5Y) +0.0%
    Median Household Income $61,175
    College Educated 35.9%

    High-Yield Neighborhoods for Investment

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

    Neighborhood Average Price
    51301 $117.7K

    Taxes & Financing

    Tax Rate (average for all types) 2.27%
    Property Tax per SF $32.12 per SF
    Tax Rate vs County Average 0.19 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Clay County

    New Delisted

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