Real Estate Investing in Spencer, Ohio (44275)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 44275 (Spencer, OH)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Spencer, OH (44275)?
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Market Analysis: 44275 Spencer
The 44275 ZIP covers a section of Spencer that demands careful diligence. Prices near $341K look accessible, but the work to make a deal cash flow is real.
Rent of $1,233/mo on a $341K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 44275 sits below the stated 0.0% once reality is priced in.
In the broader OH picture, 44275 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Employment concentration in 44275 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 44275 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Spencer:
Property Strategy for 44275
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $224,220 | $1,370 | 4.4% | +6.7% | $112,110 |
| 3BR | $316,322 | $1,760 | 4.0% | +7.0% | $105,441 |
| 4BR | $382,628 | $1,880 | 3.5% | +8.1% | $95,657 |
Market Trends
Home Value History (with trend line)
📊 How Does 44275 Compare?
| Metric | 44275 | Spencer | Cleveland-Elyria, OH | Ohio |
|---|---|---|---|---|
| Home Value | $340,901 | $340,901 | N/A | $237,530 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 7.4% |
| Avg Rent | $1,233 | $1,233 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 44275 (Spencer, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $340,901 |
| Monthly Rent | $1,233 |
| Price-to-Rent | 23.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +9.4% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 44275
Population: 3,190
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What price range are homes in Spencer, OH?
Median home price in Spencer, OH is near $341K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
Is Spencer, OH a friendly market for rental owners?
For rental operators, Spencer, OH rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Is Spencer, OH a good market for FHA house hackers?
Spencer, OH is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $341K price point reasonable to enter.
Where do rents currently stand in Spencer, OH?
Investors in Spencer, OH typically see rents near $1,233/mo per month against $341K home values - a solid setup for rental cash flow.
How strong is the working-renter base in Spencer, OH?
Tenant demand in Spencer, OH is solid. The local workforce $1,233/mo rents across most rental classes.
You know 44275 now. You don’t know where it ranks.
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How 44275 ranks in Cleveland-Elyria, OH
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