Real Estate Investment Properties for Sale in Spencer, IA

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

Explore a variety of short-term homes & houses in Spencer, IA. Invest wisely with VRBO & Spencer, IA 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, IA

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
21 W 1ST ST Spencer, IA 21 W 1st Street \| Spencer, IA Value-add opportunity in Spencer!! This 6-plex offers stron...	N/A beds \| N/A baths \| 4,308 sq.ft.	$175,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.3% Airbnb Rental Income: $null Traditional Rental Income: $1514 Airbnb ROI: N/A Traditional ROI: 5.3%
1900 4th Ave. SW 106 Spencer, IA First floor Condominium on the Spencer Municipal Golf Course. This one-bedroom unit offers...	1 beds \| N/A baths \| 783 sq.ft.	$121,000	Airbnb cash on cash: -1.64% Traditional cash on cash: 7.91% Airbnb Rental Income: $733 Traditional Rental Income: $1536 Airbnb ROI: -1.64% Traditional ROI: 7.91%
313 9th Street SW Spencer, IA All brand new! This house was completely renovated inside after the flood in June 2024. Ne...	3 beds \| 1 baths \| 912 sq.ft.	$150,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.85% Airbnb Rental Income: $null Traditional Rental Income: $1669 Airbnb ROI: N/A Traditional ROI: 8.85%
1120 4th Avenue W Spencer, IA When the best of both worlds meet you get this elegant example of a classic brick home cou...	3 beds \| N/A baths \| 1,819 sq.ft.	$305,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.85% Airbnb Rental Income: $null Traditional Rental Income: $2400 Airbnb ROI: N/A Traditional ROI: 5.85%
321 E 14th Street Spencer, IA This super-CUTE, well-LOVED 2 bedroom HOME is full of charm & optimized use of space! Situ...	2 beds \| 1 baths \| 1,536 sq.ft.	$134,890	Airbnb cash on cash: 3.71% Traditional cash on cash: 8.59% Airbnb Rental Income: $1237 Traditional Rental Income: $1473 Airbnb ROI: 3.71% Traditional ROI: 8.59%
202 E 4th Street Spencer, IA Step onto the classic front and instantly feel right at home! The entry greets you with wa...	3 beds \| 2 baths \| 3,166 sq.ft.	$229,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.16% Airbnb Rental Income: $null Traditional Rental Income: $2550 Airbnb ROI: N/A Traditional ROI: 9.16%
3580 200th Avenue Spencer, IA Just imagineâ¦ the ultimate Iowa retreat, natural Splendor complete with a spring fed po...	5 beds \| 4 baths \| 6,296 sq.ft.	$589,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.79% Airbnb Rental Income: $null Traditional Rental Income: $4478 Airbnb ROI: N/A Traditional ROI: 5.79%
701 4Th Street SW Spencer, IA MASSIVE PRICE REDUCTION Welcome to this charming Cape Cod-style home, perfectly posi...	4 beds \| 1 baths \| 3,410 sq.ft.	$399,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.05% Airbnb Rental Income: $null Traditional Rental Income: $2110 Airbnb ROI: N/A Traditional ROI: 3.05%
404 Country Club Lane Spencer, IA COMPLETELY REMODELED THREE BEDROOM RANCH HOME WITH OVERSIZED DOUBLE ATTACHED LINED AND HEA...	3 beds \| 2 baths \| 1,850 sq.ft.	$349,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.76% Airbnb Rental Income: $null Traditional Rental Income: $2213 Airbnb ROI: N/A Traditional ROI: 4.76%
905 5th Avenue SW Spencer, IA The perfect blend of modern design and effortless living in this completely updated duplex...	2 beds \| 1 baths \| 1,251 sq.ft.	$237,500	Airbnb cash on cash: N/A Traditional cash on cash: 5.06% Airbnb Rental Income: $null Traditional Rental Income: $1664 Airbnb ROI: N/A Traditional ROI: 5.06%
1107 Breezy Meadow Lane Spencer, IA Your next home awaits! Take advantage of this rare opportunity to own in the tucked away n...	5 beds \| 1 baths \| 3,606 sq.ft.	$325,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.92% Airbnb Rental Income: $null Traditional Rental Income: $2600 Airbnb ROI: N/A Traditional ROI: 5.92%
424 E 10th St Spencer, IA This cabin style home on a corner lot is all updated! 2 bed, 1 bath, with potential for lo...	2 beds \| 1 baths \| 1,664 sq.ft.	$164,500	Airbnb cash on cash: 2.64% Traditional cash on cash: 8.17% Airbnb Rental Income: $1237 Traditional Rental Income: $1710 Airbnb ROI: 2.64% Traditional ROI: 8.17%
2465 380th Street Spencer, IA The country is calling YOU. This 4 bedroom 2 bath home sits on 7.9 acres just minutes from...	4 beds \| 1 baths \| 2,089 sq.ft.	$349,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.61% Airbnb Rental Income: $null Traditional Rental Income: $1921 Airbnb ROI: N/A Traditional ROI: 3.61%
1704 4th Avenue SW Spencer, IA A solid investment opportunity awaits! Here is a tried and true 4 plex with a prime locati...	N/A beds \| N/A baths \| 4,900 sq.ft.	$409,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.35% Airbnb Rental Income: $null Traditional Rental Income: $1529 Airbnb ROI: N/A Traditional ROI: 1.35%
804 Fisher Court Spencer, IA Located on a quiet Court in an established neighborhood, this charming 2-bedroom, 1-bathro...	2 beds \| 1 baths \| 1,768 sq.ft.	$132,900	Airbnb cash on cash: 4.14% Traditional cash on cash: 10.44% Airbnb Rental Income: $1237 Traditional Rental Income: $1646 Airbnb ROI: 4.14% Traditional ROI: 10.44%
1900 4th Ave. SW 218 Spencer, IA One Bedroom Golfview Condominium located on the Spencer Municipal Golf Course. This unit f...	1 beds \| N/A baths \| 783 sq.ft.	$110,000	Airbnb cash on cash: -1.71% Traditional cash on cash: 8.94% Airbnb Rental Income: $733 Traditional Rental Income: $1555 Airbnb ROI: -1.71% Traditional ROI: 8.94%
1012 W 11Th Street Spencer, IA This spacious ranch home offers nearly 3,000 square feet of finished living spaceâfar la...	5 beds \| 3 baths \| 3,764 sq.ft.	$389,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.21% Airbnb Rental Income: $null Traditional Rental Income: $3440 Airbnb ROI: N/A Traditional ROI: 7.21%
1615 1st Ave. W. Spencer, IA Located in west Spencer adjacent to walking/bike trail, 3-bedroom, 2 bath home. The main ...	3 beds \| 2 baths \| 1,512 sq.ft.	$275,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.85% Airbnb Rental Income: $null Traditional Rental Income: $2300 Airbnb ROI: N/A Traditional ROI: 6.85%
1014 9th Avenue W Spencer, IA Imagine a home that combines the sought-after modern farmhouse aesthetic with a massive 3-...	4 beds \| 2 baths \| 2,240 sq.ft.	$290,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.62% Airbnb Rental Income: $null Traditional Rental Income: $2806 Airbnb ROI: N/A Traditional ROI: 7.62%
1900 4th Avenue SW 104 Spencer, IA Here is your rare opportunity to own a ground level 2 bedroom Golfview Condo that features...	2 beds \| N/A baths \| 1,026 sq.ft.	$178,900	Airbnb cash on cash: 2.59% Traditional cash on cash: 7.5% Airbnb Rental Income: $1237 Traditional Rental Income: $1679 Airbnb ROI: 2.59% Traditional ROI: 7.5%
1310 8th Ave. SW Spencer, IA Well cared for 3 bedroom, 2 bath home located in one of Spencer's newer neighborhoods in S...	3 beds \| 1 baths \| 1,493 sq.ft.	$300,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.58% Airbnb Rental Income: $null Traditional Rental Income: $1974 Airbnb ROI: N/A Traditional ROI: 4.58%
1308 W 11th Street Spencer, IA Built to Last! Discover the perfect blend of durability and thoughtful maintenance. This r...	3 beds \| 2 baths \| 3,488 sq.ft.	$369,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.66% Airbnb Rental Income: $null Traditional Rental Income: $2412 Airbnb ROI: N/A Traditional ROI: 4.66%
802 4th Avenue W Spencer, IA Instant increased equity for handyman / handywoman. Enjoy the open living room in this 11...	2 beds \| 1 baths \| 1,140 sq.ft.	$165,000	Airbnb cash on cash: 2.48% Traditional cash on cash: 7.57% Airbnb Rental Income: $1237 Traditional Rental Income: $1642 Airbnb ROI: 2.48% Traditional ROI: 7.57%
1200 Craigs Court Spencer, IA Spacious 4-bedroom, 2-bath home located on a quiet cul-de-sac near the YMCA, offering plen...	4 beds \| 2 baths \| 2,240 sq.ft.	$249,900	Airbnb cash on cash: N/A Traditional cash on cash: 8.74% Airbnb Rental Income: $null Traditional Rental Income: $2676 Airbnb ROI: N/A Traditional ROI: 8.74%

Real Estate investment in Spencer, IA

There are 33 properties for sale in the city of Spencer . The median list price in Spencer is $196,400 and the average price per square foot is $90. In May 2026, the average monthly cash on cash return in Spencer is 7.00%. The average monthly rental income in Spencer is $1,921.

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

There are 33 investment properties available for sale in Spencer.

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

The ROI for Long-Term is higher than the Short-Term in Spencer with average rental income of $1,921.

Your search for investment property begins and ends here

Investment Property for Sale in Spencer, IA

21 W 1ST ST

Spencer, IA

N/A beds | N/A baths | 4,308 sq.ft.

$175,000

Airbnb cash on cash: N/A

Traditional cash on cash: 5.3%

Airbnb Rental Income: $null

Traditional Rental Income: $1514

Airbnb ROI: N/A

Traditional ROI: 5.3%

1900 4th Ave. SW 106

Spencer, IA

1 beds | N/A baths | 783 sq.ft.

$121,000

Airbnb cash on cash: -1.64%

Traditional cash on cash: 7.91%

Airbnb Rental Income: $733

Traditional Rental Income: $1536

Airbnb ROI: -1.64%

Traditional ROI: 7.91%

313 9th Street SW

Spencer, IA

3 beds | 1 baths | 912 sq.ft.

$150,000

Airbnb cash on cash: N/A

Traditional cash on cash: 8.85%

Airbnb Rental Income: $null

Traditional Rental Income: $1669

Airbnb ROI: N/A

Traditional ROI: 8.85%

1120 4th Avenue W

Spencer, IA

3 beds | N/A baths | 1,819 sq.ft.

$305,000

Airbnb cash on cash: N/A

Traditional cash on cash: 5.85%

Airbnb Rental Income: $null

Traditional Rental Income: $2400

Airbnb ROI: N/A

Traditional ROI: 5.85%

321 E 14th Street

Spencer, IA

2 beds | 1 baths | 1,536 sq.ft.

$134,890

Airbnb cash on cash: 3.71%

Traditional cash on cash: 8.59%

Airbnb Rental Income: $1237

Traditional Rental Income: $1473

Airbnb ROI: 3.71%

Traditional ROI: 8.59%

202 E 4th Street

Spencer, IA

3 beds | 2 baths | 3,166 sq.ft.

$229,000

Airbnb cash on cash: N/A

Traditional cash on cash: 9.16%

Airbnb Rental Income: $null

Traditional Rental Income: $2550

Airbnb ROI: N/A

Traditional ROI: 9.16%

3580 200th Avenue

Spencer, IA

5 beds | 4 baths | 6,296 sq.ft.

$589,000

Airbnb cash on cash: N/A

Traditional cash on cash: 5.79%

Airbnb Rental Income: $null

Traditional Rental Income: $4478

Airbnb ROI: N/A

Traditional ROI: 5.79%

701 4Th Street SW

Spencer, IA

4 beds | 1 baths | 3,410 sq.ft.

$399,900

Airbnb cash on cash: N/A

Traditional cash on cash: 3.05%

Airbnb Rental Income: $null

Traditional Rental Income: $2110

Airbnb ROI: N/A