Real Estate Investment Properties for Sale in Spencer, IN

Looking for investment property in Spencer, IN with high ROI ?

Explore a variety of short-term homes & houses in Spencer, IN. Invest wisely with VRBO & Spencer, IN Airbnb properties available for purchase. Find your ideal investment property among our curated listings for a rewarding real estate venture.

Investment Property for Sale in Spencer, IN

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
7088 Addie Road Spencer, IN Nestled on 7.2 picturesque acres, this beautifully updated 4 bedroom, 3 bath ranch manufac...	4 beds \| 3 baths \| 2,356 sq.ft.	$349,900	Airbnb cash on cash: N/A Traditional cash on cash: 7% Airbnb Rental Income: $null Traditional Rental Income: $2765 Airbnb ROI: N/A Traditional ROI: 7%
501 W Jefferson Street Spencer, IN This cozy 3 bedroom, 1 bath home featuring 9 foot ceilings that create a spacious and airy...	3 beds \| 1 baths \| 1,000 sq.ft.	$189,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.92% Airbnb Rental Income: $null Traditional Rental Income: $1551 Airbnb ROI: N/A Traditional ROI: 6.92%
2636 Country Club Road Spencer, IN Nestled on 14.38 beautiful, wooded acres, this spacious and well-maintained property offer...	3 beds \| 3 baths \| 2,922 sq.ft.	$599,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.77% Airbnb Rental Income: $null Traditional Rental Income: $2972 Airbnb ROI: N/A Traditional ROI: 3.77%
4743 E Coltrane Lane Spencer, IN This beautiful 3 bedroom, 2 bath home is not to be missed! As you enter through the front ...	3 beds \| 2 baths \| 1,940 sq.ft.	$320,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.27% Airbnb Rental Income: $null Traditional Rental Income: $2397 Airbnb ROI: N/A Traditional ROI: 6.27%
1131 Parks Drive Spencer, IN Great starter home featuring two bedroom, enclosed front porch and a small deck. Home also...	2 beds \| 1 baths \| 768 sq.ft.	$174,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.89% Airbnb Rental Income: $null Traditional Rental Income: $1473 Airbnb ROI: N/A Traditional ROI: 6.89%
1012 W Acres Drive Spencer, IN Discover the charm of country living with the convenience of being close to town. This 3 b...	3 beds \| 2 baths \| 1,248 sq.ft.	$250,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.51% Airbnb Rental Income: $null Traditional Rental Income: $1977 Airbnb ROI: N/A Traditional ROI: 6.51%
205 N Main Street Spencer, IN Step into a piece of history with this enchanting historic home, gracefully nestled on a t...	4 beds \| 3 baths \| 2,289 sq.ft.	$199,900	Airbnb cash on cash: N/A Traditional cash on cash: 10.4% Airbnb Rental Income: $null Traditional Rental Income: $2624 Airbnb ROI: N/A Traditional ROI: 10.4%
45 Flatwoods Road Spencer, IN Take a look at this 4 bedroom, 3 bath, 3502 sq. ft. Brick Ranch over finished walk-out bas...	4 beds \| 3 baths \| 3,502 sq.ft.	$374,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.32% Airbnb Rental Income: $null Traditional Rental Income: $3276 Airbnb ROI: N/A Traditional ROI: 7.32%
427 E Jefferson Street Spencer, IN Charming and move-in ready ranch located in the heart of Spencer, directly across from the...	3 beds \| 2 baths \| 1,508 sq.ft.	$215,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.34% Airbnb Rental Income: $null Traditional Rental Income: $2301 Airbnb ROI: N/A Traditional ROI: 9.34%
9677 W Reeves Road Spencer, IN Imagine waking up to peaceful views, stepping outside with your morning coffee, and hearin...	4 beds \| 2 baths \| 2,688 sq.ft.	$349,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.74% Airbnb Rental Income: $null Traditional Rental Income: $2768 Airbnb ROI: N/A Traditional ROI: 6.74%
213 N Fletcher Avenue Spencer, IN Charming home full of character and recent updates in a prime Spencer location! Improvemen...	3 beds \| 1 baths \| 1,468 sq.ft.	$274,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.02% Airbnb Rental Income: $null Traditional Rental Income: $2172 Airbnb ROI: N/A Traditional ROI: 6.02%
1845 S US Hwy 231 Spencer, IN Welcome home to this beautifully remodeled peaceful country property situated on almost 4 ...	3 beds \| 2 baths \| 2,128 sq.ft.	$378,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.08% Airbnb Rental Income: $null Traditional Rental Income: $2173 Airbnb ROI: N/A Traditional ROI: 4.08%
2034 Dubois Road Spencer, IN Set across 55 breathtaking acres in Owen County, this extraordinary country estate offers ...	5 beds \| 6 baths \| 5,392 sq.ft.	$2,499,999	Airbnb cash on cash: N/A Traditional cash on cash: 1.38% Airbnb Rental Income: $null Traditional Rental Income: $6243 Airbnb ROI: N/A Traditional ROI: 1.38%
767 N Laymon Avenue Spencer, IN Spacious 4-bedroom, 1-bath home offering 1,360 sq. ft. of living space, conveniently locat...	4 beds \| 1 baths \| 1,360 sq.ft.	$229,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.05% Airbnb Rental Income: $null Traditional Rental Income: $1911 Airbnb ROI: N/A Traditional ROI: 7.05%
310 Garden Park Place Spencer, IN Welcome to 310 Garden Park in the heart of Spencer! This beautifully maintained 3-bedroom,...	3 beds \| 3 baths \| 2,822 sq.ft.	$389,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.59% Airbnb Rental Income: $null Traditional Rental Income: $2904 Airbnb ROI: N/A Traditional ROI: 5.59%
767 Laymon Avenue Spencer, IN Spacious 4-bedroom, 1-bath home offering 1,360 sq. ft. of living space, conveniently locat...	4 beds \| 1 baths \| 1,360 sq.ft.	$229,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.74% Airbnb Rental Income: $null Traditional Rental Income: $1961 Airbnb ROI: N/A Traditional ROI: 6.74%
168 E North Street Spencer, IN Welcome home to this charming limestone ranch in Spencer! This well maintained 3-bedroom, ...	3 beds \| 2 baths \| 2,031 sq.ft.	$254,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.92% Airbnb Rental Income: $null Traditional Rental Income: $2413 Airbnb ROI: N/A Traditional ROI: 7.92%
806 Texas Pike Spencer, IN Welcome to this beautifully custom crafted 5-bedroom, 3.5-bath home situated on 1.4 acres,...	5 beds \| 4 baths \| 2,802 sq.ft.	$549,000	Airbnb cash on cash: N/A Traditional cash on cash: 5% Airbnb Rental Income: $null Traditional Rental Income: $3364 Airbnb ROI: N/A Traditional ROI: 5%
502 W Hillside Avenue Spencer, IN Updated and remodeled 3-bedroom, 2-bath home conveniently located in Spencer. Recent impro...	3 beds \| 2 baths \| 2,348 sq.ft.	$249,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.58% Airbnb Rental Income: $null Traditional Rental Income: $2426 Airbnb ROI: N/A Traditional ROI: 7.58%
18 Lindsay Court Spencer, IN Recently remodeled in 2026, this move-in-ready property offers a blend of updated living s...	3 beds \| 2 baths \| 878 sq.ft.	$315,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.41% Airbnb Rental Income: $null Traditional Rental Income: $1606 Airbnb ROI: N/A Traditional ROI: 3.41%
3149 Horse Farm Drive Spencer, IN 3 acre Hobby Farm waiting for your touch with fenced in pastures and a two stall barn. Old...	2 beds \| 2 baths \| 896 sq.ft.	$110,000	Airbnb cash on cash: N/A Traditional cash on cash: 11.05% Airbnb Rental Income: $null Traditional Rental Income: $1470 Airbnb ROI: N/A Traditional ROI: 11.05%
982 E Porter Ridge Road Spencer, IN Please join us for an OPEN HOUSE this Saturday, July 18, from 12:00 to 1:30PM! This move-i...	3 beds \| 2 baths \| 1,792 sq.ft.	$239,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.09% Airbnb Rental Income: $null Traditional Rental Income: $2459 Airbnb ROI: N/A Traditional ROI: 9.09%
4005 Texas Pike Road Spencer, IN Welcome to 4005 Texas Pike in Spencer, Indiana-a rare opportunity to own a versatile 6-acr...	4 beds \| 2 baths \| 2,600 sq.ft.	$449,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.42% Airbnb Rental Income: $null Traditional Rental Income: $2601 Airbnb ROI: N/A Traditional ROI: 4.42%
226 N East Street Spencer, IN Welcome home to this well-maintained 3-bedroom, 2-bath residence offering a comfortable la...	3 beds \| 2 baths \| 2,256 sq.ft.	$249,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.9% Airbnb Rental Income: $null Traditional Rental Income: $2348 Airbnb ROI: N/A Traditional ROI: 7.9%
387 Center Street Spencer, IN Experience the perfect balance of modern peaceful country living and optimal location in t...	3 beds \| 2 baths \| 1,973 sq.ft.	$249,900	Airbnb cash on cash: N/A Traditional cash on cash: 8.37% Airbnb Rental Income: $null Traditional Rental Income: $2429 Airbnb ROI: N/A Traditional ROI: 8.37%
48 W Clay Street Spencer, IN New Construction - Currently Under Construction! Be among the first to own this beautiful ...	3 beds \| 2 baths \| 1,317 sq.ft.	$262,500	Airbnb cash on cash: N/A Traditional cash on cash: 6.65% Airbnb Rental Income: $null Traditional Rental Income: $2008 Airbnb ROI: N/A Traditional ROI: 6.65%
5373 Mobley Drive Spencer, IN Set on 3 picturesque acres with sweeping views, this one-level home offers the perfect bal...	3 beds \| 2 baths \| 1,960 sq.ft.	$339,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.32% Airbnb Rental Income: $null Traditional Rental Income: $2340 Airbnb ROI: N/A Traditional ROI: 5.32%
1198 N Us Highway 231 Spencer, IN You'll be ready to call this charming 2 bedroom/1 bath bungalow, home. The home has been f...	2 beds \| 1 baths \| 1,040 sq.ft.	$179,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.27% Airbnb Rental Income: $null Traditional Rental Income: $1595 Airbnb ROI: N/A Traditional ROI: 7.27%
3331 Westward Road Spencer, IN Location, comfort, and convenience all come together in this newly listed home! Situated i...	3 beds \| 2 baths \| 1,352 sq.ft.	$269,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.18% Airbnb Rental Income: $null Traditional Rental Income: $2019 Airbnb ROI: N/A Traditional ROI: 6.18%
313 Concord Road Spencer, IN Tucked away on 1.40 private acres in Owen County, this well-maintained property offers a p...	3 beds \| 2 baths \| 1,274 sq.ft.	$299,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.26% Airbnb Rental Income: $null Traditional Rental Income: $1943 Airbnb ROI: N/A Traditional ROI: 5.26%
310 W Market Street Spencer, IN Move-in ready home in a convenient Spencer location offering comfort, character, and pract...	2 beds \| 1 baths \| 2,408 sq.ft.	$169,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.07% Airbnb Rental Income: $null Traditional Rental Income: $1543 Airbnb ROI: N/A Traditional ROI: 7.07%
2919 Schooling Road Spencer, IN Escape to the peace and privacy of country living with this charming 4-bedroom, 3-bath hom...	4 beds \| 3 baths \| 2,559 sq.ft.	$595,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.86% Airbnb Rental Income: $null Traditional Rental Income: $2939 Airbnb ROI: N/A Traditional ROI: 3.86%

Real Estate investment in Spencer, IN

There are 40 properties for sale in the city of Spencer . The median list price in Spencer is $199,880 and the average price per square foot is $127. In July 2026, the average monthly cash on cash return in Spencer is 7.00%. The average monthly rental income in Spencer is $2,309.

Spencer, IN Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 40 investment properties available for sale in Spencer.

In 2026, the best neighborhood to buy investment property is Spencer.

The ROI for Short-Term is higher than the Long-Term in Spencer with average rental income of $N/A.

Your search for investment property begins and ends here

Investment Property for Sale in Spencer, IN

7088 Addie Road

Spencer, IN

4 beds | 3 baths | 2,356 sq.ft.

$349,900

Airbnb cash on cash: N/A

Traditional cash on cash: 7%

Airbnb Rental Income: $null

Traditional Rental Income: $2765

Airbnb ROI: N/A

Traditional ROI: 7%

501 W Jefferson Street

Spencer, IN

3 beds | 1 baths | 1,000 sq.ft.

$189,900

Airbnb cash on cash: N/A

Traditional cash on cash: 6.92%

Airbnb Rental Income: $null

Traditional Rental Income: $1551

Airbnb ROI: N/A

Traditional ROI: 6.92%

2636 Country Club Road

Spencer, IN

3 beds | 3 baths | 2,922 sq.ft.

$599,000

Airbnb cash on cash: N/A

Traditional cash on cash: 3.77%

Airbnb Rental Income: $null

Traditional Rental Income: $2972

Airbnb ROI: N/A

Traditional ROI: 3.77%

4743 E Coltrane Lane

Spencer, IN

3 beds | 2 baths | 1,940 sq.ft.

$320,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.27%

Airbnb Rental Income: $null

Traditional Rental Income: $2397

Airbnb ROI: N/A

Traditional ROI: 6.27%

1131 Parks Drive

Spencer, IN

2 beds | 1 baths | 768 sq.ft.

$174,900

Airbnb cash on cash: N/A

Traditional cash on cash: 6.89%

Airbnb Rental Income: $null

Traditional Rental Income: $1473

Airbnb ROI: N/A

Traditional ROI: 6.89%

1012 W Acres Drive

Spencer, IN

3 beds | 2 baths | 1,248 sq.ft.

$250,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.51%

Airbnb Rental Income: $null

Traditional Rental Income: $1977

Airbnb ROI: N/A

Traditional ROI: 6.51%

205 N Main Street

Spencer, IN

4 beds | 3 baths | 2,289 sq.ft.

$199,900

Airbnb cash on cash: N/A

Traditional cash on cash: 10.4%

Airbnb Rental Income: $null

Traditional Rental Income: $2624

Airbnb ROI: N/A

Traditional ROI: 10.4%

45 Flatwoods Road

Spencer, IN

4 beds | 3 baths | 3,502 sq.ft.

$374,900

Airbnb cash on cash: N/A

Traditional cash on cash: 7.32%

Airbnb Rental Income: $null

Traditional Rental Income: $3276

Airbnb ROI: N/A