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    Spencer, IA Residential Income Properties for Sale

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    Fostoria, IA Everly, IA Milford, IA
    Partially Remodeled 6-Plex
    $175,000
    4,308 SF
    Partially Remodeled 6-Plex

    21 W 1ST ST, Spencer, IA 51301

    Partially remodeled 6-plex in Spencer with two units rented and four units ready for finishing and lease-up.
    • 6‑plex at 21 W 1st Street in Spencer, IA
    • Partially remodeled with 2 of 6 units currently rented for immediate income
    • Four additional units available to renovate and lease up
    • Heating: baseboard
    • Cooling: window unit(s)
    Updated: Feb 24
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    Spencer Iowa Multifamily Investment Opportunity
    $115,000
    0.18 Acres
    Spencer Iowa Multifamily Investment Opportunity

    19 E 2nd Street, Spencer, IA 51301

    Multifamily property in Spencer, Iowa, with a strong occupancy history.
    • 1 1/2‑story bungalow built in 1920 with block and wood siding construction
    • Two separate living units (two living spaces) for flexible use and tenancy
    • Main floor bedrooms with 4 bedrooms and 2 bathrooms across the home
    • Basement included; rooms include Bedroom 1–4 and Bathroom 1–2
    • Public water and public sewer connected
    Updated: Oct 10, 2025
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    Three-Unit Residential Income Property
    $63,000
    0.18 Acres
    Three-Unit Residential Income Property

    Three-unit multifamily property offers a straightforward residential income setup in Spencer, Iowa.

    807 4th Avenue, Spencer, IA 51301

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    Based on your search, we've compiled 13 Potential Opportunities for your consideration. Besides 3 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.

    Golf Course Duplex Home
    $595,000
    1,885 SF
    Golf Course Duplex Home

    Impeccably maintained 3-bedroom duplex on Emerald Hills Golf Course.

    1018 Emerald Hills Drive, Arnolds Park, IA 51331

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    Okoboji Condo with Lake Access
    $309,000
    1,001 SF
    Okoboji Condo with Lake Access

    Newly renovated 1-2 bedroom condos with pool and lake access.

    1302 Highway 71 N 1, Okoboji, IA 51355

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    Okoboji Lake Access Condominium
    $319,000
    789 SF
    Okoboji Lake Access Condominium

    Newly renovated 1-2 bedroom units with lake access.

    1316 HWY 71 N 13, Okoboji, IA 51355

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    Golf Course Patio Home
    $595,000
    1,885 SF
    Golf Course Patio Home

    Move-in ready duplex on Emerald Hills Golf Course.

    1018 Emerald Hills Drive, Arnolds Park, IA 51331

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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.

    Ayrshire Land with Utility Building
    $129,000
    4.76 Acres
    Ayrshire Land with Utility Building

    4.76-acre parcel with utility building near Silver Lake.

    4153 380th Avenue, Ayrshire, IA 50515

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    Prime Waterfront Land on Okoboji
    $3,795,000
    0.63 Acres
    Prime Waterfront Land on Okoboji

    Incredible West Lake Okoboji building lot with stunning views.

    2204 Manhattan Boulevard, Wahpeton, IA 51351

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    Acre Lot with Shop Potential
    $190,000
    1.04 Acres
    Acre Lot with Shop Potential

    Acreage in Spirit Lake near Parks Marina.

    Sunner Ave/ 28th Street, Spirit Lake, IA 51360

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    Commercial Lots in Graettinger, Iowa
    $34,999
    0.79 Acres
    Commercial Lots in Graettinger, Iowa

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

    N Cedar Avenue, Graettinger, IA 51342

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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
    Lot: 3.75 Acres
    Value Estimation by Request

    317 18th St, Spencer, IA 51301-3400

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    317 11th SE St
    MOBILE HOME PARK, TRAILER PARK
    8,738 SF Lot: 1.65 Acres
    Value Estimation by Request

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

    View details

    Spencer, IA Residential Income Properties Investment Opportunities Market Analysis

    Explore 5 residential income properties for sale in Spencer, IA, showcased through 3 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 $175,000.

    Sale prices for residential income properties in Spencer, IA start at $175,000, averaging $175,000, and reaching up to $175,000 — 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 1
    Duplexes 1
    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 $119.3K

    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%

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