Lejla Frazee

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21 W 1ST STSpencer, IA 51301

Multi-Family · 4,308 Sq. ft. | 0.12 Acres
$175,000 Active

21 W 1ST ST Overview

Time on Site:
126 days
Visits:
17

21 W 1st Street Spencer, IA Value-add opportunity in Spencer! This 6-plex offers strong upside for an investor ready to complete renovations and increase cash flow. The property has been partially remodeled, with 2 of the 6 units currently rented, providing immediate income. The remaining 4 units offer the ability to renovate, lease up, and significantly improve overall returns. With improvements already underway, much of the heavy lifting has been started, allowing the next owner to step in and finish the project. Conveniently located near downtown Spencer amenities, this is a prime opportunity for investors looking to build equity and increase long-term cash flow.

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21 W 1ST ST Facts & Features

  • Type Multi-Family
  • Sq. ft. 4,308
  • Price/Sq.ft. $41
  • Lot 0.12 Acres

Details

General

Listing Information

  • Contingency: None

Building Information

  • Year Built: 1949

Location/Region

  • County Or Parish: Clay

Tax Information

  • Tax Year: 2024

General Information

  • Parcel Number: 19041-963618134010
  • Property Sub Type: Multi-Unit
  • Property Type: Multi-Unit
  • Zoning: res

Interior

Parking Information

  • Garage Spaces: 1

Building Interior

  • Below Grade Finished Area: 1192

General Information

  • Cooling: Window Unit
  • Heating: Baseboard
  • Living Area: 4308

Exterior

Lot Information

  • Lot Features: Fixer Upper
  • Lot Size Acres: 0.12
  • Water Source: City

General Information

  • Sewer: City

21 W 1ST ST Neighborhood

Community

51301 (SPENCER) Demographics

42
Median Age
77
Population Density (per sq. mile)
36%
College Educated
$47,989
Estimated Median Income
3,605
Estimated Total Home Owners
2,043
Estimated Total Renters
64% / 36%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

21 W 1ST ST Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

21 W 1ST ST Market Data

Based on the last 30 days in this zip code

$224,872
Average List Price
$135
Average Price per Square Foot
16
Properties Sold
151
Average Days on Market
82
Properties for Sale
Calculations provided by Reliance Network

21 W 1ST ST History

Date Event Value Agent
2/24/2026Source: Northwest Iowa Regional MLS Added to Database
February 24, 2026
Listing provided courtesy of Gateway Real Estate Advisors- MLS# 831915MLS Provider