21 W 1st St, Spencer, IA, 51301
About This Home
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.
Getting Around
Very Walkable
Very Limited Transit
BikeableSchools
Construction
Condition
- Year built: 1949
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Bedrooms & Bathrooms
- Bedrooms: 5
- Bathrooms: 3
- Full bathrooms: 3
Features
- Finished area below ground: 1,192
Heating & Cooling
- Heating features: Baseboard
- Cooling features: Window Unit(s)
Interior Area
- Total structure area: 4,308
- Total interior livable area: 4,308 sqft
Property
Details
- Parcel number: 19041963618134010
- Zoning: res
- Zoning description: res
Lot
- Lot size: 5,227 sqft
Parking
- Total spaces: 1
- Parking features: Garage
- Has garage: Yes
- Attached garage spaces: 1
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Inland Flooding
- Tornado
- Winter Weather
- Cold Wave
- Hail
- Strong Wind
How This Home’s Risks Compare
FEMA Declared Disasters Across Iowa Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $884 | $10,608 |
| Home Insurance * | $189 | $2,268 |
| Property Taxes | $135 | $1,620 |
| Electricity | $321 | $3,856 |
| Total | $1,529 | $18,348 |
Income You'd Need if You Spent...
Iowa FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-02-24 | Listed for sale | $175,000 |
| 2022-05-17 | Listing removed | $210,000 |
| 2022-03-16 | Listed for sale | $210,000 |
| 2020-06-26 | Listing removed | $144,000 |
| 2020-06-10 | Price change | $144,000 |
| 2020-05-03 | Price change | $154,000 |
| 2019-10-24 | Listed for sale | $158,000 |
View on Zillow