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
401 W 3rd St Spencer, IA ROOM TO ROAM....Spacious and open is this Ranch home situated on a corner lot with lots of...	5 beds \| 3 baths \| 4,257 sq.ft.	$479,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.85% Airbnb Rental Income: $null Traditional Rental Income: $3408 Airbnb ROI: N/A Traditional ROI: 5.85%
905 E 4th St Spencer, IA It's a wonderful home! Look at all of the character that this 3 bedroom, 2 bath house has...	3 beds \| 1 baths \| 2,013 sq.ft.	$215,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.53% Airbnb Rental Income: $null Traditional Rental Income: $1830 Airbnb ROI: N/A Traditional ROI: 6.53%
21 W 1ST ST Spencer, IA 21 W 1st Street \| Spencer, IA Value~add opportunity in Spencer!! This 6~plex offers strong...	5 beds \| 3 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%
1111 3rd Avenue Spencer, IA This 4-bedroom, 2-bath home at 1111 3rd Ave W in Spencer offers plenty of room to spread o...	4 beds \| 2 baths \| 1,460 sq.ft.	$173,000	Airbnb cash on cash: N/A Traditional cash on cash: 11.15% Airbnb Rental Income: $null Traditional Rental Income: $2307 Airbnb ROI: N/A Traditional ROI: 11.15%
3211 W 3rd St Spencer, IA Setting a new trend! This 2 Bedroom 1 Bath home with open concept floor plan is just the h...	2 beds \| 1 baths \| 1,136 sq.ft.	$224,900	Airbnb cash on cash: 2.58% Traditional cash on cash: 7.29% Airbnb Rental Income: $1312 Traditional Rental Income: $1907 Airbnb ROI: 2.58% Traditional ROI: 7.29%
1111 3rd Ave W Spencer, IA Frame This Picture! 4 Bedroom, 2 Bathroom Updated Ranch Home while preserved original char...	4 beds \| 2 baths \| 1,460 sq.ft.	$173,000	Airbnb cash on cash: N/A Traditional cash on cash: 11.1% Airbnb Rental Income: $null Traditional Rental Income: $2273 Airbnb ROI: N/A Traditional ROI: 11.1%
212 34th Ave W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 2 baths \| 1,533 sq.ft.	$275,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.88% Airbnb Rental Income: $null Traditional Rental Income: $2128 Airbnb ROI: N/A Traditional ROI: 5.88%
216 34th Ave W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 2 baths \| 1,533 sq.ft.	$275,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.87% Airbnb Rental Income: $null Traditional Rental Income: $2128 Airbnb ROI: N/A Traditional ROI: 5.87%
208 34th Ave W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 2 baths \| 1,533 sq.ft.	$275,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.88% Airbnb Rental Income: $null Traditional Rental Income: $2128 Airbnb ROI: N/A Traditional ROI: 5.88%
610 Country Club Ln Spencer, IA Start your next chapter in this move-in-ready 3 bed 2 bath split foyer Home. Fresh paint ...	3 beds \| 2 baths \| 1,690 sq.ft.	$250,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.15% Airbnb Rental Income: $null Traditional Rental Income: $1584 Airbnb ROI: N/A Traditional ROI: 4.15%
924 1st Ave SW Spencer, IA Come in and view this beautiful Brick Ranch home and enjoy a gas fireplace .Very nice home...	5 beds \| 2 baths \| 2,913 sq.ft.	$389,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.69% Airbnb Rental Income: $null Traditional Rental Income: $1710 Airbnb ROI: N/A Traditional ROI: 2.69%
207 34th Ave W Spencer, IA The Declan Floor Plan with 1,653 Finished SqFt is the largest floorplan option in the West...	3 beds \| 2 baths \| 1,653 sq.ft.	$284,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.65% Airbnb Rental Income: $null Traditional Rental Income: $2224 Airbnb ROI: N/A Traditional ROI: 6.65%
213 34th Ave W Spencer, IA Setting a trend with a NEW FLOOR PLAN is this quality built 3 Bedroom 2 Bath contemporary ...	3 beds \| 2 baths \| 1,518 sq.ft.	$284,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.5% Airbnb Rental Income: $null Traditional Rental Income: $2184 Airbnb ROI: N/A Traditional ROI: 6.5%
114 34th Ave W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 2 baths \| 1,533 sq.ft.	$292,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.24% Airbnb Rental Income: $null Traditional Rental Income: $2128 Airbnb ROI: N/A Traditional ROI: 6.24%
110 34th Ave W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 2 baths \| 1,533 sq.ft.	$292,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.24% Airbnb Rental Income: $null Traditional Rental Income: $2125 Airbnb ROI: N/A Traditional ROI: 6.24%
106 34th Ave W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 2 baths \| 1,533 sq.ft.	$292,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.85% Airbnb Rental Income: $null Traditional Rental Income: $2128 Airbnb ROI: N/A Traditional ROI: 4.85%
1423 18th Ave W Spencer, IA Fairway Frontage Luxury: Exquisite Brick Home on Spencer Golf & Country Club. Experience ...	3 beds \| 3 baths \| 3,633 sq.ft.	$619,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.91% Airbnb Rental Income: $null Traditional Rental Income: $2430 Airbnb ROI: N/A Traditional ROI: 1.91%
703 8th Ave W Spencer, IA Charming, Move-In Ready Home â Priced to Sell! This beautifully maintained 2-bedroom, 1...	2 beds \| 1 baths \| 988 sq.ft.	$152,000	Airbnb cash on cash: 3.84% Traditional cash on cash: 8.12% Airbnb Rental Income: $1312 Traditional Rental Income: $1527 Airbnb ROI: 3.84% Traditional ROI: 8.12%
523 4th Ave W Spencer, IA Your Spencer opportunity awaits! Raise your family in this awesome 4 bed 2 bath home with ...	3 beds \| 2 baths \| 1,530 sq.ft.	$160,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.8% Airbnb Rental Income: $null Traditional Rental Income: $2007 Airbnb ROI: N/A Traditional ROI: 9.8%
609 4th Ave W Spencer, IA 609 4th Ave W, Spencer, IA 51301 \| Single Family Residential	4 beds \| 2 baths \| 1,912 sq.ft.	$235,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.26% Airbnb Rental Income: $null Traditional Rental Income: $2495 Airbnb ROI: N/A Traditional ROI: 8.26%
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.	$329,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.1% Airbnb Rental Income: $null Traditional Rental Income: $2213 Airbnb ROI: N/A Traditional ROI: 5.1%
1625 3rd Ave E Spencer, IA 1625 3rd Ave E, Spencer, IA 51301 \| Single Family Residential	2 beds \| 2 baths \| 1,513 sq.ft.	$139,900	Airbnb cash on cash: 3.51% Traditional cash on cash: 10.84% Airbnb Rental Income: $1312 Traditional Rental Income: $1887 Airbnb ROI: 3.51% Traditional ROI: 10.84%
309 1st St E Spencer, IA 309 1st St E, Spencer, IA 51301 \| Single Family Residential	2 beds \| 1 baths \| 879 sq.ft.	$90,000	Airbnb cash on cash: 6.7% Traditional cash on cash: 10.32% Airbnb Rental Income: $1312 Traditional Rental Income: $1223 Airbnb ROI: 6.7% Traditional ROI: 10.32%
2020 358th St Spencer, IA 2020 358th St, Spencer, IA 51301 \| Other	N/A beds \| N/A baths \| N/A	$89,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.11% Airbnb Rental Income: $null Traditional Rental Income: $764 Airbnb ROI: N/A Traditional ROI: 5.11%
2015 358th St Spencer, IA 2015 358th St, Spencer, IA 51301 \| Other	N/A beds \| N/A baths \| N/A	$99,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.33% Airbnb Rental Income: $null Traditional Rental Income: $759 Airbnb ROI: N/A Traditional ROI: 4.33%
2021 358th St Spencer, IA 2021 358th St, Spencer, IA 51301 \| Other	N/A beds \| N/A baths \| N/A	$129,500	Airbnb cash on cash: N/A Traditional cash on cash: 2.86% Airbnb Rental Income: $null Traditional Rental Income: $764 Airbnb ROI: N/A Traditional ROI: 2.86%
2008 358th St Spencer, IA 2008 358th St, Spencer, IA 51301 \| Other	N/A beds \| N/A baths \| N/A	$89,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.05% Airbnb Rental Income: $null Traditional Rental Income: $759 Airbnb ROI: N/A Traditional ROI: 5.05%
2014 358th St Spencer, IA 2014 358th St, Spencer, IA 51301 \| Other	N/A beds \| N/A baths \| N/A	$89,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.11% Airbnb Rental Income: $null Traditional Rental Income: $764 Airbnb ROI: N/A Traditional ROI: 5.11%
404 Country Club Lane Ln Spencer, IA 404 Country Club Lane Ln, Spencer, IA 51301 \| Single Family Residential	3 beds \| 2 baths \| 1,850 sq.ft.	$329,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.39% Airbnb Rental Income: $null Traditional Rental Income: $2245 Airbnb ROI: N/A Traditional ROI: 4.39%
1107 Breezy Meadow Ln Spencer, IA Your next home awaits! Take advantage of this rare opportunity to own in the tucked away n...	5 beds \| 3 baths \| 2,603 sq.ft.	$292,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.69% Airbnb Rental Income: $null Traditional Rental Income: $2600 Airbnb ROI: N/A Traditional ROI: 6.69%
1725 1st Ave E Spencer, IA Looking for the perfect blend of classic two-story charm and modern luxury? This spacious ...	5 beds \| 2 baths \| 3,004 sq.ft.	$369,500	Airbnb cash on cash: N/A Traditional cash on cash: 5.37% Airbnb Rental Income: $null Traditional Rental Income: $2803 Airbnb ROI: N/A Traditional ROI: 5.37%
1012 W 11th St Spencer, IA Added value and peace of mind: Since being listed, the property has received significant e...	5 beds \| 3 baths \| 2,943 sq.ft.	$374,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.54% Airbnb Rental Income: $null Traditional Rental Income: $3440 Airbnb ROI: N/A Traditional ROI: 7.54%
1615 1st Ave. Ave W Spencer, IA Located in west Spencer adjacent to walking/bike trail, 3-bedroom, 2 bath home. The main f...	3 beds \| 2 baths \| 1,512 sq.ft.	$249,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.65% Airbnb Rental Income: $null Traditional Rental Income: $2300 Airbnb ROI: N/A Traditional ROI: 7.65%
1900 4th Ave SW #104 Spencer, IA Enjoy easy, maintenance free living in this beautifully updated ground level 2 bedroom Gol...	2 beds \| 1 baths \| 1,026 sq.ft.	$173,900	Airbnb cash on cash: 3.06% Traditional cash on cash: 7.74% Airbnb Rental Income: $1312 Traditional Rental Income: $1679 Airbnb ROI: 3.06% Traditional ROI: 7.74%
802 4th Ave W Spencer, IA Instant increased equity for handyman / handywoman. Enjoy the open living room in this 114...	2 beds \| 2 baths \| 1,140 sq.ft.	$165,000	Airbnb cash on cash: 2.83% Traditional cash on cash: 7.52% Airbnb Rental Income: $1312 Traditional Rental Income: $1642 Airbnb ROI: 2.83% Traditional ROI: 7.52%
79 Stoneybrook Cir SW Spencer, IA 79 Stoneybrook Cir SW, Spencer, IA 51301 \| Single Family Residential	2 beds \| 2 baths \| 1,374 sq.ft.	$262,000	Airbnb cash on cash: 0.46% Traditional cash on cash: 4.61% Airbnb Rental Income: $1312 Traditional Rental Income: $1929 Airbnb ROI: 0.46% Traditional ROI: 4.61%
419 4th St SW Spencer, IA 419 4th St SW, Spencer, IA 51301 \| Single Family Residential	3 beds \| 1 baths \| 2,602 sq.ft.	$277,237	Airbnb cash on cash: N/A Traditional cash on cash: 3.71% Airbnb Rental Income: $null Traditional Rental Income: $1729 Airbnb ROI: N/A Traditional ROI: 3.71%
220 W 3rd St St Spencer, IA 220 W 3rd St St, Spencer, IA 51301 \| Single Family Residential	5 beds \| 2 baths \| 1,647 sq.ft.	$215,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.48% Airbnb Rental Income: $null Traditional Rental Income: $2338 Airbnb ROI: N/A Traditional ROI: 8.48%
924 1st Avenue Spencer, IA This meticulously remodeled brick ranch home in the heart of Spencer, Iowa, is now offered...	5 beds \| 3 baths \| 2,913 sq.ft.	$389,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.08% Airbnb Rental Income: $null Traditional Rental Income: $3346 Airbnb ROI: N/A Traditional ROI: 7.08%
1217 13th Ave W Spencer, IA 1217 13th Ave W, Spencer, IA 51301 \| Single Family Residential	4 beds \| 1 baths \| 1,747 sq.ft.	$249,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.23% Airbnb Rental Income: $null Traditional Rental Income: $1928 Airbnb ROI: N/A Traditional ROI: 5.23%

Real Estate investment in Spencer, IA

There are 70 properties for sale in the city of Spencer . The median list price in Spencer is $172,397 and the average price per square foot is $104. In July 2026, the average monthly cash on cash return in Spencer is 8.00%. The average monthly rental income in Spencer is $1,929.

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

There are 70 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 $1,929.

Your search for investment property begins and ends here

Investment Property for Sale in Spencer, IA

401 W 3rd St

Spencer, IA

5 beds | 3 baths | 4,257 sq.ft.

$479,900

Airbnb cash on cash: N/A

Traditional cash on cash: 5.85%

Airbnb Rental Income: $null

Traditional Rental Income: $3408

Airbnb ROI: N/A

Traditional ROI: 5.85%

905 E 4th St

Spencer, IA

3 beds | 1 baths | 2,013 sq.ft.

$215,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.53%

Airbnb Rental Income: $null

Traditional Rental Income: $1830

Airbnb ROI: N/A

Traditional ROI: 6.53%

21 W 1ST ST

Spencer, IA

5 beds | 3 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%

1111 3rd Avenue

Spencer, IA

4 beds | 2 baths | 1,460 sq.ft.

$173,000

Airbnb cash on cash: N/A

Traditional cash on cash: 11.15%

Airbnb Rental Income: $null

Traditional Rental Income: $2307

Airbnb ROI: N/A

Traditional ROI: 11.15%

3211 W 3rd St

Spencer, IA

2 beds | 1 baths | 1,136 sq.ft.

$224,900

Airbnb cash on cash: 2.58%

Traditional cash on cash: 7.29%

Airbnb Rental Income: $1312

Traditional Rental Income: $1907

Airbnb ROI: 2.58%

Traditional ROI: 7.29%

1111 3rd Ave W

Spencer, IA

4 beds | 2 baths | 1,460 sq.ft.

$173,000

Airbnb cash on cash: N/A

Traditional cash on cash: 11.1%

Airbnb Rental Income: $null

Traditional Rental Income: $2273

Airbnb ROI: N/A

Traditional ROI: 11.1%

212 34th Ave W

Spencer, IA

3 beds | 2 baths | 1,533 sq.ft.

$275,000

Airbnb cash on cash: N/A

Traditional cash on cash: 5.88%

Airbnb Rental Income: $null

Traditional Rental Income: $2128

Airbnb ROI: N/A

Traditional ROI: 5.88%

216 34th Ave W

Spencer, IA

3 beds | 2 baths | 1,533 sq.ft.

$275,000

Airbnb cash on cash: N/A

Traditional cash on cash: 5.87%

Airbnb Rental Income: $null

Traditional Rental Income: $2128

Airbnb ROI: N/A