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
402 E Park St Spencer, IA It's updated! Completely gone through since 2024 and now features a concrete driveway with...	2 beds \| 1 baths \| 816 sq.ft.	$120,000	Airbnb cash on cash: 8.06% Traditional cash on cash: 11.14% Airbnb Rental Income: $1710 Traditional Rental Income: $1592 Airbnb ROI: 8.06% Traditional ROI: 11.14%
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%
407 E 13th Street Spencer, IA Welcome to this cozy 2-bedroom, 1-bath bungalow featuring classic charm and modern updates...	2 beds \| 1 baths \| 680 sq.ft.	$114,900	Airbnb cash on cash: 8.39% Traditional cash on cash: 10.82% Airbnb Rental Income: $1710 Traditional Rental Income: $1506 Airbnb ROI: 8.39% Traditional ROI: 10.82%
212 34th Avenue W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 1 baths \| 1,558 sq.ft.	$275,000	Airbnb cash on cash: 2.44% Traditional cash on cash: 5.88% Airbnb Rental Income: $1710 Traditional Rental Income: $2128 Airbnb ROI: 2.44% Traditional ROI: 5.88%
216 34th Avenue W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 1 baths \| 1,558 sq.ft.	$275,000	Airbnb cash on cash: 2.43% Traditional cash on cash: 5.87% Airbnb Rental Income: $1710 Traditional Rental Income: $2128 Airbnb ROI: 2.43% Traditional ROI: 5.87%
204 34th Avenue W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 1 baths \| 1,558 sq.ft.	$275,000	Airbnb cash on cash: 2.43% Traditional cash on cash: 5.87% Airbnb Rental Income: $1710 Traditional Rental Income: $2128 Airbnb ROI: 2.43% Traditional ROI: 5.87%
208 34th Avenue W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 1 baths \| 1,558 sq.ft.	$275,000	Airbnb cash on cash: 2.44% Traditional cash on cash: 5.88% Airbnb Rental Income: $1710 Traditional Rental Income: $2128 Airbnb ROI: 2.44% Traditional ROI: 5.88%
2124 11th Avenue SW Spencer, IA Discover your own personal retreat on the edge of town! This manageable acreage offers the...	3 beds \| 1 baths \| 2,198 sq.ft.	$229,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.26% Airbnb Rental Income: $null Traditional Rental Income: $1094 Airbnb ROI: N/A Traditional ROI: 2.26%
602 E 10th Street Spencer, IA Two-Bedroom Home in a great location with the potential of a 3rd lower level bedroom. This...	3 beds \| 1 baths \| 1,836 sq.ft.	$130,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.02% Airbnb Rental Income: $null Traditional Rental Income: $983 Airbnb ROI: N/A Traditional ROI: 4.02%
209 34th Avenue W Spencer, IA Don't miss this opportunity to own this exceptional 2 Bedroom, 1 Bath home with its open c...	2 beds \| 1 baths \| 1,136 sq.ft.	$229,900	Airbnb cash on cash: 3.9% Traditional cash on cash: 7.48% Airbnb Rental Income: $1710 Traditional Rental Income: $2013 Airbnb ROI: 3.9% Traditional ROI: 7.48%
207 34th Avenue W Spencer, IA The Declan Floor Plan with 1,653 Finished SqFt is the largest floorplan option in the West...	3 beds \| 1 baths \| 1,690 sq.ft.	$284,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.66% Airbnb Rental Income: $null Traditional Rental Income: $2224 Airbnb ROI: N/A Traditional ROI: 6.66%
201 34th Avenue W Spencer, IA Setting a trend in this quality built 3 Bedroom 2 Bath contemporary home featuring an open...	3 beds \| 1 baths \| 1,540 sq.ft.	$284,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.51% Airbnb Rental Income: $null Traditional Rental Income: $2184 Airbnb ROI: N/A Traditional ROI: 6.51%
213 34th Avenue W Spencer, IA Setting a trend with a NEW FLOOR PLAN is this quality built 3 Bedroom 2 Bath contemporary ...	3 beds \| 1 baths \| 1,540 sq.ft.	$284,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.51% Airbnb Rental Income: $null Traditional Rental Income: $2184 Airbnb ROI: N/A Traditional ROI: 6.51%
114 34th Avenue W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 1 baths \| 1,558 sq.ft.	$292,000	Airbnb cash on cash: 3% Traditional cash on cash: 6.24% Airbnb Rental Income: $1710 Traditional Rental Income: $2128 Airbnb ROI: 3% Traditional ROI: 6.24%
102 34th Avenue W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 1 baths \| 1,558 sq.ft.	$292,000	Airbnb cash on cash: 1.61% Traditional cash on cash: 4.85% Airbnb Rental Income: $1710 Traditional Rental Income: $2128 Airbnb ROI: 1.61% Traditional ROI: 4.85%
110 34th Avenue W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 1 baths \| 1,558 sq.ft.	$292,000	Airbnb cash on cash: 3.01% Traditional cash on cash: 6.24% Airbnb Rental Income: $1710 Traditional Rental Income: $2125 Airbnb ROI: 3.01% Traditional ROI: 6.24%
106 34th Avenue W Spencer, IA Introducing a stunning new construction home to the market! This 3-Bedroom 2 Bath gem is ...	3 beds \| 1 baths \| 1,558 sq.ft.	$292,000	Airbnb cash on cash: 1.61% Traditional cash on cash: 4.85% Airbnb Rental Income: $1710 Traditional Rental Income: $2128 Airbnb ROI: 1.61% Traditional ROI: 4.85%
1321 Country Club Drive Spencer, IA Enjoy the Country Club view and/or life living at this property! No need to be a golfer! T...	2 beds \| 2 baths \| 2,309 sq.ft.	$334,000	Airbnb cash on cash: 1.51% Traditional cash on cash: 5.23% Airbnb Rental Income: $1710 Traditional Rental Income: $2404 Airbnb ROI: 1.51% Traditional ROI: 5.23%
1523 W 18th Avenue Spencer, IA Very nice 5 bedroom home located on the golf course. This home offers great living space! ...	5 beds \| 3 baths \| 1,736 sq.ft.	$359,500	Airbnb cash on cash: N/A Traditional cash on cash: 5.88% Airbnb Rental Income: $null Traditional Rental Income: $2842 Airbnb ROI: N/A Traditional ROI: 5.88%
611 E 17th Street Spencer, IA Well-Maintained 3 Bedroom, 2 Bathroom Ranch Home with Full Basement and DOUBLE Car Attache...	3 beds \| 1 baths \| 1,288 sq.ft.	$165,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.31% Airbnb Rental Income: $null Traditional Rental Income: $1909 Airbnb ROI: N/A Traditional ROI: 9.31%
3580 200th Avenue Spencer, IA Imagineâ¦ The ultimate Iowa retreat, blending Hamptons. Elegance with 20 acres of natural...	5 beds \| 4 baths \| 6,296 sq.ft.	$745,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.41% Airbnb Rental Income: $null Traditional Rental Income: $4478 Airbnb ROI: N/A Traditional ROI: 4.41%
1210 Fairview Avenue Spencer, IA Since listing the property, the sellers have installed a new furnace, AC & addressed plumb...	4 beds \| 1 baths \| 2,016 sq.ft.	$175,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.7% Airbnb Rental Income: $null Traditional Rental Income: $2075 Airbnb ROI: N/A Traditional ROI: 9.7%
817 Fisher Court Spencer, IA This well-maintained ranch-style home offers comfortable, one-level living with 3 bedrooms...	4 beds \| 1 baths \| 2,320 sq.ft.	$171,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.76% Airbnb Rental Income: $null Traditional Rental Income: $2102 Airbnb ROI: N/A Traditional ROI: 9.76%
917 W 9th Street Spencer, IA Beautifully remodeled 3-bedroom, 2-bath home with stunning curb appeal and all one-level l...	3 beds \| 1 baths \| 1,775 sq.ft.	$249,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.67% Airbnb Rental Income: $null Traditional Rental Income: $1942 Airbnb ROI: N/A Traditional ROI: 5.67%
117 E 2nd Street Spencer, IA This delightful bungalow is a perfect blend of character and modern convenience, making it...	2 beds \| 1 baths \| 1,952 sq.ft.	$121,900	Airbnb cash on cash: 7.88% Traditional cash on cash: 11.25% Airbnb Rental Income: $1710 Traditional Rental Income: $1632 Airbnb ROI: 7.88% Traditional ROI: 11.25%
605 E 18th Street Spencer, IA Convenient, comfortable, and just the right sizeâthis no-fuss, zero entry condo is tucke...	2 beds \| N/A baths \| 784 sq.ft.	$140,000	Airbnb cash on cash: 6.63% Traditional cash on cash: 8.86% Airbnb Rental Income: $1710 Traditional Rental Income: $1535 Airbnb ROI: 6.63% Traditional ROI: 8.86%
1305 18th Avenue W Spencer, IA Welcome to 1305 18th Ave Wâa beautifully maintained brick ranch home with unbeatable cur...	3 beds \| 3 baths \| 3,716 sq.ft.	$479,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.35% Airbnb Rental Income: $null Traditional Rental Income: $2980 Airbnb ROI: N/A Traditional ROI: 4.35%
523 4th Avenue W Spencer, IA Your Spencer opportunity awaits! Raise your family in this awesome 4 bed 2 bath home with ...	4 beds \| 1 baths \| 2,226 sq.ft.	$199,999	Airbnb cash on cash: N/A Traditional cash on cash: 7.69% Airbnb Rental Income: $null Traditional Rental Income: $2007 Airbnb ROI: N/A Traditional ROI: 7.69%
1612 4th Avenue SW Spencer, IA Life is greener on the Spencer Municipal Golf Course. Here is a rare opportunity to make y...	4 beds \| 2 baths \| 2,560 sq.ft.	$289,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.61% Airbnb Rental Income: $null Traditional Rental Income: $2867 Airbnb ROI: N/A Traditional ROI: 7.61%

Real Estate investment in Spencer, IA

There are 36 properties for sale in the city of Spencer . The median list price in Spencer is $194,000 and the average price per square foot is $109. In September 2025, the average monthly cash on cash return in Spencer is 8.00%. The average monthly rental income in Spencer is $2,028.

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

There are 36 investment properties available for sale in Spencer.

In 2025, 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 $2,028.

Your search for investment property begins and ends here

Investment Property for Sale in Spencer, IA

402 E Park St

Spencer, IA

2 beds | 1 baths | 816 sq.ft.

$120,000

Airbnb cash on cash: 8.06%

Traditional cash on cash: 11.14%

Airbnb Rental Income: $1710

Traditional Rental Income: $1592

Airbnb ROI: 8.06%

Traditional ROI: 11.14%

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%

407 E 13th Street

Spencer, IA

2 beds | 1 baths | 680 sq.ft.

$114,900

Airbnb cash on cash: 8.39%

Traditional cash on cash: 10.82%

Airbnb Rental Income: $1710

Traditional Rental Income: $1506

Airbnb ROI: 8.39%

Traditional ROI: 10.82%

212 34th Avenue W

Spencer, IA

3 beds | 1 baths | 1,558 sq.ft.

$275,000

Airbnb cash on cash: 2.44%

Traditional cash on cash: 5.88%

Airbnb Rental Income: $1710

Traditional Rental Income: $2128

Airbnb ROI: 2.44%

Traditional ROI: 5.88%

216 34th Avenue W

Spencer, IA

3 beds | 1 baths | 1,558 sq.ft.

$275,000

Airbnb cash on cash: 2.43%

Traditional cash on cash: 5.87%

Airbnb Rental Income: $1710

Traditional Rental Income: $2128

Airbnb ROI: 2.43%

Traditional ROI: 5.87%

204 34th Avenue W

Spencer, IA

3 beds | 1 baths | 1,558 sq.ft.

$275,000

Airbnb cash on cash: 2.43%

Traditional cash on cash: 5.87%

Airbnb Rental Income: $1710

Traditional Rental Income: $2128

Airbnb ROI: 2.43%

Traditional ROI: 5.87%

208 34th Avenue W

Spencer, IA

3 beds | 1 baths | 1,558 sq.ft.

$275,000

Airbnb cash on cash: 2.44%

Traditional cash on cash: 5.88%

Airbnb Rental Income: $1710

Traditional Rental Income: $2128

Airbnb ROI: 2.44%

Traditional ROI: 5.88%

2124 11th Avenue SW

Spencer, IA

3 beds | 1 baths | 2,198 sq.ft.

$229,900

Airbnb cash on cash: N/A

Traditional cash on cash: 2.26%

Airbnb Rental Income: $null

Traditional Rental Income: $1094

Airbnb ROI: N/A