Spencer, IN Multifamily Homes & Duplexes for Sale

/8
$680,000
- 10 Beds
- 10 Baths
- 6,996 Sq Ft
80 W Jefferson St, Spencer, IN 47460

This offering includes two identical multifamily buildings, each featuring five 1-bedroom, 1-bathroom ground-floor apartments, ideally located within walking distance of the Spencer downtown square. Positioned on Jefferson and Wayne Streets, these properties offer immediate access to local shops, restaurants, and community amenities, making them highly desirable for tenants seeking small-town

Chris Cockerham FC Tucker/Bloomington REALTORS

80 W Jefferson St, Spencer, IN 47460
/5
$409,900
- 2 Beds
- 1.5 Baths
- 1,728 Sq Ft
101 E Wayne St, Spencer, IN 47460

INVESTORS!!! This property is a cash flow ready investment opportunity. These duplexes are in great structural condition, have a newer metal roof, off street parking spaces, and a strong rental history. The kitchen, the living space, a half bath located downstairs & the two bedrooms and a full bath upstairs. All 4 of these units have the same layout, and each unit has their own 10x10 back porch

Taylor Kay Keith Realty & Auction Group

101 E Wayne St, Spencer, IN 47460
/6
$409,900
- 2 Beds
- 1 Bath
169 S Sycamore St, Spencer, IN 47460

INVESTORS!!! Investment ready opportunity, with a strong rental history, great structural condition, a newer medal roof installed approx. 1 year ago. Together these two duplexes offer three 2-bedroom 1 bath units, as well as a 1-bedroom 1 bath unit. All 4 units have their own individual porches for outdoor enjoyment. There are two level gravel parking areas on each side of each building for off

Taylor Kay Keith Realty & Auction Group

169 S Sycamore St, Spencer, IN 47460
/5
$409,900
- 2 Beds
- 1 Bath
- 1,728 Sq Ft
169 Sycamore St, Spencer, IN 47460

INVESTORS!!! Investment ready opportunity, with a strong rental history, great structural condition, a newer medal roof installed approx. 1 year ago. Together these two duplexes offer three 2-bedroom 1 bath units, as well as a 1-bedroom 1 bath unit. All 4 units have their own individual porches for outdoor enjoyment. There are two level gravel parking areas on each side of each building for off

Taylor Kay Keith Realty & Auction Group

169 Sycamore St, Spencer, IN 47460
/6
$1,150,000
- 2 Beds
- 1 Bath
- 1,728 Sq Ft
135 & 137 W Wayne St, Spencer, IN 47460

Calling all investors! Looking for a stable, immediate cash flow property in excellent condition? This lot offers 5 Duplexes with upper/lower units and 1 site built home, all 11 units are currently rented out with a strong rental history and plenty of room for potential revenue. Gravel parking lots in front of the units allow for off street parking for each resident. All 11 units have 2 bedrooms

Taylor Kay Keith Realty & Auction Group

135 & 137 W Wayne St, Spencer, IN 47460
/4
$1,150,000
- 2 Beds
- 1 Bath
135 W Wayne St, Spencer, IN 47460

Calling all investors! Looking for a stable, immediate cash flow property in great condition? This lot offers 5 Duplexes with upper/lower units and 1 site built home, all 11 units are currently rented out with a strong rental history and plenty of room for potential revenue. Gravel parking lots in front of the units allow for off street parking for each resident. All 11 units have 2 bedrooms & 1

Taylor Kay Keith Realty & Auction Group

135 W Wayne St, Spencer, IN 47460

Indiana Spencer

Why Live in Spencer

Spencer, Indiana, is a town of about 2,400 people amid the hilly and wooded farmland west of Bloomington . Along with offering more affordability than some of its neighbors, Spencer has a variety of recreation options and a walkable downtown with local restaurants, boutiques and other attractions. It's home to the Owen County Fair and neighbors McCormick’s Creek State Park, one of the region’s leading outdoor destinations. “It’s an older community,” says Michelle Stanger, a Realtor and owner of Stanger Homes. “And if you don’t mind the commute, you’re not too far from Bloomington. People should come to see it. It’s a nice little, quaint town.” Homes here are along mostly gridded streets lined by mature trees. Spencer has some modern housing from the 2010s and 2020s, but many of its homes date back to the first half of the 20th century. Housing styles include Craftsman, gable-ell, Queen Anne and American Foursquares. The town also has manufactured homes and cottages with cross-gabled roofs and wide covered porches. Depending on size and lot acreage, most homes go from about $170,000 to $410,000. Overall, Spencer has lower housing costs than some other places in the region. The town’s

Learn more about living in Spencer

Home Trends in Spencer, IN

On average, homes in Spencer, IN sell after 34 days on the market compared to the national average of 70 days. The median sale price for homes in Spencer, IN over the last 12 months is $346,000, up 38% from the median home sale price over the previous 12 months.

Housing Trends

Median Sale Price

$346,000

Median Single Family Sale Price

$373,000

Average Price Per Sq Ft

$186

Number of Homes for Sale

Last 12 months Home Sales

Months of Supply

1.50

Median List Price

$375,000

Median Change From 1st List Price

Median Home Sale Price YoY Change

38%

How to Buy a Home How to Finance a Home How to Sell a Home

In Spencer, there are currently 6 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $409,900 to $1,150,000, there's a range to accomodate every budget. As of July, 2025 the median home price in Spencer is $375,000, while the average sale price is $360,204, offering insights into the local housing market. On average, multi-family homes spend 34 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Spencer, IN.

Spencer Types of Homes for Sale

More About Living in Spencer

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