Is Spirit Lake, IA a good place to invest in rental property?

Spirit Lake, IA has a median modeled monthly cash flow of $-1,678 and a median cap rate of 1.6%, on a median sold price of $409,500. Prices changed +4.7% year over year.

What is the average cap rate in Spirit Lake, IA?

The median cap rate across recently sold homes in Spirit Lake, IA is 1.6%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Spirit Lake, IA?

The median sold price in Spirit Lake, IA is $409,500 (about $223 per square foot).

Investing in Spirit Lake, IA Real Estate

A data-driven snapshot of the Spirit Lake, IA rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$409,500Median sold price

$223Median $/sqft

1.6%Median cap rate

$-1,678Modeled cash flow / mo

+4.7%Appreciation YoY

11.1Months of supply

177Active listings

192Sold (last 12 mo)

What the Spirit Lake numbers say

In Spirit Lake, IA, the median home sold for $409,500 (about $223 per square foot), and the typical deal models out to a 1.6% cap rate with a median $-1,678 of monthly cash flow. Sold prices moved +4.7% over the past year. Inventory sits at about 11.1 months of supply — a looser, buyer-friendly market. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

🔨 See 3 fix-and-flip deals in Spirit Lake — listings where the estimated after-repair value beats list price + rehab.

Other Iowa markets to compare

See Spirit Lake cash-flowing listings

CashFlowRE ranks every for-sale home in Spirit Lake, IA by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Spirit Lake deals, or browse the national market data.