Spirit Lake, IA Residential Income Properties for Sale

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Orleans, IA Okoboji, IA Arnolds Park, IA Wahpeton, IA Milford, IA Jackson, MN Lake Park, IA Estherville, IA

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Updated: Nov 7, 2025

Near-New Duplex with Patio Views

1940 35th Street, Spirit Lake, IA 51360

$399,000

2,439 sqft 0.24 AC lot

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)
Patio overlooking the pond, plus concrete driveway
Fireplace plus central air and forced‑air heating

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This listing looks promising.

Here's a quick look at some key insights for

1940 35th Street, Spirit Lake, IA 51360

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Est. Cap Rate

5.4%
NOI ÷ price
Est. NOI

$21K
Annual
Price @ 7% Cap

$306K
Suggested
Property Type

Single Family Residence
Built 2022

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Updated: Jul 11

Upstairs/Downstairs Duplex Residence

2297 165th St, Spirit Lake, IA 51360

$390,000

1,500 sqft 1.00 AC lot

Upstairs/downstairs duplex on slightly over 1 acre of treed land in the Center Lake South neighborhood
Uninterrupted Center Lake views; lake‑side land is owned by the DNR and will never be built upon
Lower level unit: 2 bedrooms, 1 bathroom; updated kitchen, flooring, and quality windows
Separate access upstairs efficiency apartment with kitchen area, 3/4 bath, and open living/bedroom layout
Shared main‑level laundry space with washer/dryer hookups

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Duplex with 20-Foot Ceilings

3302 Ponderosa Court, Spirit Lake, IA 51360

$549,000

1,940 sqft 0.57 AC lot

Modern 3-bedroom duplex with open-concept living and dramatic high ceilings for a bright, spacious layout.

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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

16822 255th Street, Spirit Lake, IA 51360

$1,990,000

3,848 sqft

New construction duplex designed for comfortable lake living.

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New Construction Duplex in Spirit Lake

3102 Spruce Court, Spirit Lake, IA 51360

$419,900

1,425 sqft 0.14 AC lot

Contemporary 2-bedroom, 2-bathroom duplex with modern amenities and bike trail access.

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Spirit Lake Eight-Unit Apartment Building

1501 Hill Ave, Spirit Lake, IA 51360

$900,000

Eight-unit apartment building in downtown Spirit Lake, Iowa.

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Duplex with Covered Patio

3102 Spruce CT., Spirit Lake, IA 51360

$419,900

1,425 sqft 0.18 AC lot

Duplex featuring an open layout with 9-foot ceilings and a covered patio for outdoor grilling and relaxation.

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Based on your search, we've compiled 28 Potential Opportunities for your consideration. Besides 8 Active listings in Spirit Lake, IA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 12 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.

Triplex Rental Property with Lake Views

41 Dewey Street, Arnolds Park, IA 51331

$799,000

0.32 AC lot

Three distinct rental units, including a long-term tenant, with outdoor gathering space and lake views in Arnolds Park.

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Single-Story Duplex with Attached Garage

3329 Prairie Meadow Drive, Milford, IA 51351

$349,000

1,221 sqft 0.19 AC lot

Move-in ready 2016 duplex with two bedrooms, main-floor laundry, and a two-car attached garage in Nature Trails.

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Multifamily Apartment Building with Dorm Rooms

2212 Okoboji, Milford, IA 51351

$950,000

1.17 AC lot

Income-producing multifamily property with 10 occupied apartment units plus seven furnished dorm-style rooms.

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West Lake Okoboji Condo

333 Hwy 71 N 2H, Arnolds Park, IA 51331

$2,495,000

2,333 sqft 1.66 AC lot

New condo with resort-quality amenities on West Lake Okoboji.

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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

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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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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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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Waterfront Buildable Lot with Lake Access

Lake Shore Drive, Sherburn, MN 56171

$98,900

1.32 AC lot

Build near Fox Lake with deeded access, gentle terrain, and nearby utilities for year-round or seasonal use.

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Off-Market Properties in Spirit Lake, IA

Consider similar Off-Market properties in Spirit Lake, 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.