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
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.	$219,900	Airbnb cash on cash: N/A Traditional cash on cash: 9.39% Airbnb Rental Income: $null Traditional Rental Income: $2624 Airbnb ROI: N/A Traditional ROI: 9.39%
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%
3320 Pine Wood Drive Spencer, IN Peaceful Country Living on 10+ Acres \| 3 Bed, 2 Bath Home with Expansive Garage & Scenic V...	3 beds \| 2 baths \| 1,404 sq.ft.	$410,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.99% Airbnb Rental Income: $null Traditional Rental Income: $2132 Airbnb ROI: N/A Traditional ROI: 3.99%
9677 W Reeves Road Spencer, IN Nestled in the hills of Monroe Co, this spacious home offers a unique opportunity to estab...	4 beds \| 2 baths \| 2,688 sq.ft.	$379,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.13% Airbnb Rental Income: $null Traditional Rental Income: $2768 Airbnb ROI: N/A Traditional ROI: 6.13%
1845 S US 231 Highway Spencer, IN Remodeled home on 3.731 acres. This home has been renovated inside and out. Large eat-in k...	2 beds \| 2 baths \| 1,517 sq.ft.	$388,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.4% Airbnb Rental Income: $null Traditional Rental Income: $2173 Airbnb ROI: N/A Traditional ROI: 4.4%
2034 Dubois Road Spencer, IN Exceptional 55-acre equestrian and event property in Owen County, offering a rare blend of...	5 beds \| 6 baths \| 5,392 sq.ft.	$2,600,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.29% Airbnb Rental Income: $null Traditional Rental Income: $6243 Airbnb ROI: N/A Traditional ROI: 1.29%
4496 Blue Springs Drive Spencer, IN Great find for those seeking an open floor plan ranch home. This 3 bedroom 2 bath home off...	3 beds \| 4 baths \| 1,400 sq.ft.	$300,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.02% Airbnb Rental Income: $null Traditional Rental Income: $2297 Airbnb ROI: N/A Traditional ROI: 6.02%
Tract 5 Hudson Hill Rd Spencer, IN Tract 5 Hudson Hill Rd, Spencer, IN 47460 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$75,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.21% Airbnb Rental Income: $null Traditional Rental Income: $837 Airbnb ROI: N/A Traditional ROI: 8.21%
Tract 7 Hudson Hill Rd Spencer, IN Tract 7 Hudson Hill Rd, Spencer, IN 47460 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$75,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.21% Airbnb Rental Income: $null Traditional Rental Income: $837 Airbnb ROI: N/A Traditional ROI: 8.21%
Tract 6 Hudson Hill Rd Spencer, IN Tract 6 Hudson Hill Rd, Spencer, IN 47460 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$75,000	Airbnb cash on cash: N/A Traditional cash on cash: 10.76% Airbnb Rental Income: $null Traditional Rental Income: $1026 Airbnb ROI: N/A Traditional ROI: 10.76%
Tract 8 Hudson Hill Rd Spencer, IN Tract 8 Hudson Hill Rd, Spencer, IN 47460 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$75,000	Airbnb cash on cash: N/A Traditional cash on cash: 10.76% Airbnb Rental Income: $null Traditional Rental Income: $1026 Airbnb ROI: N/A Traditional ROI: 10.76%
9483 W Fenceline Road Spencer, IN Roughly 6 minutes to Edgewood schools! Welcome home to an extraordinary private estate in ...	5 beds \| 4 baths \| 4,164 sq.ft.	$839,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.95% Airbnb Rental Income: $null Traditional Rental Income: $3748 Airbnb ROI: N/A Traditional ROI: 2.95%
3865 Bakers School Road Spencer, IN Beautiful rural setting on nearly 4 acres in eastern Owen County, currently utilized as a ...	3 beds \| 2 baths \| 1,687 sq.ft.	$329,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.46% Airbnb Rental Income: $null Traditional Rental Income: $2268 Airbnb ROI: N/A Traditional ROI: 5.46%
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.	$239,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.72% Airbnb Rental Income: $null Traditional Rental Income: $1911 Airbnb ROI: N/A Traditional ROI: 6.72%
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%
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.	$419,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.11% Airbnb Rental Income: $null Traditional Rental Income: $2904 Airbnb ROI: N/A Traditional ROI: 5.11%
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.	$239,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.39% Airbnb Rental Income: $null Traditional Rental Income: $1961 Airbnb ROI: N/A Traditional ROI: 6.39%
2830 Hickory Hills Road Spencer, IN If youâre looking for a breathtaking view that offers you a place to retreat from a busy...	3 beds \| 3 baths \| 2,000 sq.ft.	$385,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.03% Airbnb Rental Income: $null Traditional Rental Income: $2811 Airbnb ROI: N/A Traditional ROI: 6.03%
5462/5550 Patricksburg Road Spencer, IN Are you looking for a dream home with plenty of space? This amazing property has everythin...	4 beds \| 2 baths \| 1,568 sq.ft.	$199,900	Airbnb cash on cash: N/A Traditional cash on cash: 10.29% Airbnb Rental Income: $null Traditional Rental Income: $2374 Airbnb ROI: N/A Traditional ROI: 10.29%
280 W Hillside Avenue Spencer, IN Find old-fashioned charm in this 4-bedroom, 1.5-bath home in Spencer's historic north side...	4 beds \| 3 baths \| 3,251 sq.ft.	$265,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.43% Airbnb Rental Income: $null Traditional Rental Income: $3081 Airbnb ROI: N/A Traditional ROI: 9.43%
257 Lincoln Street Spencer, IN Welcome to this 3 Bedroom, 1 Bath home in Spencer offering practical features, recent upda...	3 beds \| 1 baths \| 888 sq.ft.	$139,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.31% Airbnb Rental Income: $null Traditional Rental Income: $1520 Airbnb ROI: N/A Traditional ROI: 9.31%

Real Estate investment in Spencer, IN

There are 21 properties for sale in the city of Spencer . The median list price in Spencer is $166,750 and the average price per square foot is $111. In April 2026, the average monthly cash on cash return in Spencer is 7.00%. The average monthly rental income in Spencer is $2,173.

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

There are 21 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

205 N Main Street

Spencer, IN

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

$219,900

Airbnb cash on cash: N/A

Traditional cash on cash: 9.39%

Airbnb Rental Income: $null

Traditional Rental Income: $2624

Airbnb ROI: N/A

Traditional ROI: 9.39%

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

Traditional ROI: 7.32%

3320 Pine Wood Drive

Spencer, IN

3 beds | 2 baths | 1,404 sq.ft.

$410,000

Airbnb cash on cash: N/A

Traditional cash on cash: 3.99%

Airbnb Rental Income: $null

Traditional Rental Income: $2132

Airbnb ROI: N/A

Traditional ROI: 3.99%

9677 W Reeves Road

Spencer, IN

4 beds | 2 baths | 2,688 sq.ft.

$379,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.13%

Airbnb Rental Income: $null

Traditional Rental Income: $2768

Airbnb ROI: N/A

Traditional ROI: 6.13%

1845 S US 231 Highway

Spencer, IN

2 beds | 2 baths | 1,517 sq.ft.

$388,900

Airbnb cash on cash: N/A

Traditional cash on cash: 4.4%

Airbnb Rental Income: $null

Traditional Rental Income: $2173

Airbnb ROI: N/A

Traditional ROI: 4.4%

2034 Dubois Road

Spencer, IN

5 beds | 6 baths | 5,392 sq.ft.

$2,600,000

Airbnb cash on cash: N/A

Traditional cash on cash: 1.29%

Airbnb Rental Income: $null

Traditional Rental Income: $6243

Airbnb ROI: N/A

Traditional ROI: 1.29%

4496 Blue Springs Drive

Spencer, IN

3 beds | 4 baths | 1,400 sq.ft.

$300,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.02%

Airbnb Rental Income: $null

Traditional Rental Income: $2297

Airbnb ROI: N/A

Traditional ROI: 6.02%

Tract 5 Hudson Hill Rd

Spencer, IN

N/A beds | N/A baths | 0 sq.ft.

$75,000

Airbnb cash on cash: N/A

Traditional cash on cash: 8.21%

Airbnb Rental Income: $null

Traditional Rental Income: $837

Airbnb ROI: N/A