Real Estate Investment Properties for Sale in Alma, MI

Looking for investment property in Alma, MI with high ROI ?

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
247 Gemstone Drive Alma, MI New construction in the City of Alma. This 3-bedroom home offers an open layout designed f...	3 beds \| 3 baths \| 1,325 sq.ft.	$324,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.36% Airbnb Rental Income: $null Traditional Rental Income: $2399 Airbnb ROI: N/A Traditional ROI: 5.36%
516 Yale Avenue Alma, MI Charming ranch home in a highly desirable location just one block from Alma College! This ...	3 beds \| 1 baths \| 1,060 sq.ft.	$165,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.35% Airbnb Rental Income: $null Traditional Rental Income: $1542 Airbnb ROI: N/A Traditional ROI: 7.35%
3892 N Ely Hwy Alma, MI	2 beds \| 2 baths \| 1,100 sq.ft.	$130,000	Airbnb cash on cash: N/A Traditional cash on cash: 11.94% Airbnb Rental Income: $null Traditional Rental Income: $1768 Airbnb ROI: N/A Traditional ROI: 11.94%
5340 Blue Heron Drive Alma, MI Welcome to this beautifully remodeled riverfront retreat, tucked at the end of a quiet cul...	3 beds \| 3 baths \| 2,880 sq.ft.	$364,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.16% Airbnb Rental Income: $null Traditional Rental Income: $1824 Airbnb ROI: N/A Traditional ROI: 3.16%
913 Pine Avenue Alma, MI Brand new construction in the City of Alma! 3 bedroom/1 bath home built with quality and e...	3 beds \| 1 baths \| 1,152 sq.ft.	$219,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.78% Airbnb Rental Income: $null Traditional Rental Income: $1748 Airbnb ROI: N/A Traditional ROI: 6.78%
800 Ely Street Alma, MI This charming 3 bedroom, 1.5 bathroom home offers comfortable living in a quaint neighborh...	3 beds \| 2 baths \| 1,070 sq.ft.	$129,000	Airbnb cash on cash: N/A Traditional cash on cash: 11.63% Airbnb Rental Income: $null Traditional Rental Income: $1832 Airbnb ROI: N/A Traditional ROI: 11.63%
804 Woodworth Avenue Alma, MI Step into this charming turn-of-the-century two-story home offering nearly 1,900 square fe...	4 beds \| 2 baths \| 1,891 sq.ft.	$189,000	Airbnb cash on cash: N/A Traditional cash on cash: 10.25% Airbnb Rental Income: $null Traditional Rental Income: $2377 Airbnb ROI: N/A Traditional ROI: 10.25%
309 S State Street Alma, MI Located in Alma, this move-in-ready home offers 3 bedrooms and a bath with a tiled walk-in...	3 beds \| 1 baths \| 1,023 sq.ft.	$172,500	Airbnb cash on cash: N/A Traditional cash on cash: 7.35% Airbnb Rental Income: $null Traditional Rental Income: $1611 Airbnb ROI: N/A Traditional ROI: 7.35%
623 N State Street Alma, MI Large Victorian home in Alma featuring many modern updates and awaiting your finishing tou...	4 beds \| 3 baths \| 3,516 sq.ft.	$435,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.24% Airbnb Rental Income: $null Traditional Rental Income: $3161 Airbnb ROI: N/A Traditional ROI: 5.24%
615 Wright Avenue Alma, MI Located right in the heart of Alma, walking distance from downtown and right on the doorst...	3 beds \| 2 baths \| 1,344 sq.ft.	$159,900	Airbnb cash on cash: N/A Traditional cash on cash: 10.14% Airbnb Rental Income: $null Traditional Rental Income: $1954 Airbnb ROI: N/A Traditional ROI: 10.14%
115 S State Street Alma, MI You will love the character of this home from the moment you step inside. Abundant natural...	3 beds \| 1 baths \| 2,144 sq.ft.	$155,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.41% Airbnb Rental Income: $null Traditional Rental Income: $1824 Airbnb ROI: N/A Traditional ROI: 9.41%
258 Ruby Court Alma, MI Beautifully built ranch in the highly sought-after Gemstone Fields subdivision of Alma. Si...	3 beds \| 2 baths \| 1,358 sq.ft.	$337,500	Airbnb cash on cash: N/A Traditional cash on cash: 3.93% Airbnb Rental Income: $null Traditional Rental Income: $2170 Airbnb ROI: N/A Traditional ROI: 3.93%
214 N Grover Avenue Alma, MI Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Ste...	2 beds \| 1 baths \| 936 sq.ft.	$109,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.38% Airbnb Rental Income: $null Traditional Rental Income: $1056 Airbnb ROI: N/A Traditional ROI: 6.38%
195 Jade Ct Alma, MI Welcome to the Pinecrest, a first floor master plan. This plan offers a 2-story great room...	5 beds \| 2 baths \| 2,716 sq.ft.	$385,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.01% Airbnb Rental Income: $null Traditional Rental Income: $2305 Airbnb ROI: N/A Traditional ROI: 3.01%
823 W Superior St Alma, MI Three wishes: quality, convenience, and comfort! This 3-bedroom 1 1/2-bathroom home is in ...	3 beds \| 1 baths \| 1,832 sq.ft.	$205,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.54% Airbnb Rental Income: $null Traditional Rental Income: $1609 Airbnb ROI: N/A Traditional ROI: 5.54%
1510 Luce Court Alma, MI This charming, authentic log cabin, built in 1999 and offers over 1,700 square feet of liv...	3 beds \| 2 baths \| 1,780 sq.ft.	$350,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.44% Airbnb Rental Income: $null Traditional Rental Income: $1771 Airbnb ROI: N/A Traditional ROI: 2.44%
5705 N State Road Alma, MI This 3.45-acre mixed-use property offers a unique investment opportunity with both steady ...	N/A beds \| N/A baths \| 2,579 sq.ft.	$440,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.98% Airbnb Rental Income: $null Traditional Rental Income: $1855 Airbnb ROI: N/A Traditional ROI: 0.98%
990 Glencoe Road Alma, MI Welcome home to this charming 3-bedroom, 1.5-bath ranch in the City of Alma offering 1,475...	3 beds \| 2 baths \| 1,475 sq.ft.	$190,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.28% Airbnb Rental Income: $null Traditional Rental Income: $2084 Airbnb ROI: N/A Traditional ROI: 8.28%
267 W Lincoln Rd Alma, MI Located in the heart of Alma, this home offers a great opportunity for buyers looking to a...	3 beds \| 1 baths \| 1,220 sq.ft.	$225,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.89% Airbnb Rental Income: $null Traditional Rental Income: $1890 Airbnb ROI: N/A Traditional ROI: 6.89%
426 N State Street Alma, MI Prime 5-Unit Multi-Family Property Near Downtown Alma!! Looking for a great investment op...	N/A beds \| N/A baths \| 2,800 sq.ft.	$159,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.22% Airbnb Rental Income: $null Traditional Rental Income: $1760 Airbnb ROI: N/A Traditional ROI: 7.22%
730 N River Alma, MI Welcome home to this well-maintained 3-bedroom, 1-bath property thatâs truly ready for y...	3 beds \| 1 baths \| 1,094 sq.ft.	$135,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.72% Airbnb Rental Income: $null Traditional Rental Income: $1533 Airbnb ROI: N/A Traditional ROI: 8.72%
916 N River Avenue Alma, MI Great news! Back on the market and ready for its next owner--here's your second chance. Mo...	3 beds \| 2 baths \| 1,302 sq.ft.	$149,900	Airbnb cash on cash: N/A Traditional cash on cash: 10.14% Airbnb Rental Income: $null Traditional Rental Income: $1883 Airbnb ROI: N/A Traditional ROI: 10.14%
1035 Eastward Street Alma, MI This cozy 2-bedroom, 1-1/2 bathroom home is the perfect opportunity for anyone looking for...	2 beds \| 2 baths \| 1,134 sq.ft.	$130,000	Airbnb cash on cash: N/A Traditional cash on cash: 11.22% Airbnb Rental Income: $null Traditional Rental Income: $1803 Airbnb ROI: N/A Traditional ROI: 11.22%
3515 N Bliss Road Alma, MI Experience country living at its best with this spacious 5-bedroom, 1-bath farmhouse offer...	5 beds \| 1 baths \| 2,240 sq.ft.	$234,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.22% Airbnb Rental Income: $null Traditional Rental Income: $1877 Airbnb ROI: N/A Traditional ROI: 6.22%
5390 Pheasant Court Alma, MI Set on a scenic waterfront parcel along the Pine River Channel in a highly sought-after Ar...	5 beds \| 4 baths \| 5,330 sq.ft.	$549,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.53% Airbnb Rental Income: $null Traditional Rental Income: $4554 Airbnb ROI: N/A Traditional ROI: 6.53%
430 Bridge Ave Alma, MI This home has been privately owned and not offered to the public for many years, presentin...	8 beds \| 5 baths \| 4,288 sq.ft.	$305,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.46% Airbnb Rental Income: $null Traditional Rental Income: $2549 Airbnb ROI: N/A Traditional ROI: 6.46%
125 Park Dr Alma, MI 125 Park Dr, Alma, MI 48801 \| Single Family Residential	2 beds \| 1 baths \| 890 sq.ft.	$129,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.22% Airbnb Rental Income: $null Traditional Rental Income: $934 Airbnb ROI: N/A Traditional ROI: 4.22%
125 Park Dr Lot : 76/77 Alma, MI 125 Park Dr Lot : 76/77, Alma, MI 48801 \| Single Family Residential	2 beds \| 1 baths \| 890 sq.ft.	$129,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.96% Airbnb Rental Income: $null Traditional Rental Income: $1026 Airbnb ROI: N/A Traditional ROI: 4.96%
3495 Kali Ln Alma, MI 3495 Kali Ln, Alma, MI 48801 \| Single Family Residential	3 beds \| 2 baths \| 1,880 sq.ft.	$389,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.53% Airbnb Rental Income: $null Traditional Rental Income: $2305 Airbnb ROI: N/A Traditional ROI: 3.53%
0 Kali Ln #30 Alma, MI 0 Kali Ln #30, Alma, MI 48801 \| Single Family Residential	3 beds \| 2 baths \| 1,932 sq.ft.	$419,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.11% Airbnb Rental Income: $null Traditional Rental Income: $2311 Airbnb ROI: N/A Traditional ROI: 3.11%
0 Lakeside Dr #19 Alma, MI 0 Lakeside Dr #19, Alma, MI 48801 \| Single Family Residential	3 beds \| 2 baths \| 1,634 sq.ft.	$419,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.44% Airbnb Rental Income: $null Traditional Rental Income: $2046 Airbnb ROI: N/A Traditional ROI: 2.44%
277 Gemstone Dr #6 Alma, MI 277 Gemstone Dr #6, Alma, MI 48801 \| Single Family Residential	3 beds \| 2 baths \| 1,428 sq.ft.	$309,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.95% Airbnb Rental Income: $null Traditional Rental Income: $1981 Airbnb ROI: N/A Traditional ROI: 3.95%
TBD Riverview Alma, MI TBD Riverview, Alma, MI 48801 \| Other	N/A beds \| N/A baths \| N/A	$29,900	Airbnb cash on cash: N/A Traditional cash on cash: 11.67% Airbnb Rental Income: $null Traditional Rental Income: $548 Airbnb ROI: N/A Traditional ROI: 11.67%
TBD Heather Ln Alma, MI TBD Heather Ln, Alma, MI 48801 \| Other	N/A beds \| N/A baths \| N/A	$49,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.39% Airbnb Rental Income: $null Traditional Rental Income: $543 Airbnb ROI: N/A Traditional ROI: 6.39%
124 S State Street Alma, MI Charming 1.5 Story Home in the Heart of Alma! Discover this beautifully maintained 1.5 st...	2 beds \| 2 baths \| 938 sq.ft.	$157,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.39% Airbnb Rental Income: $null Traditional Rental Income: $1506 Airbnb ROI: N/A Traditional ROI: 7.39%
1700 Piper Place #E Alma, MI Enjoy low-maintenance living with high-end amenities in this well-kept two-bedroom condo i...	2 beds \| 2 baths \| 1,060 sq.ft.	$148,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.66% Airbnb Rental Income: $null Traditional Rental Income: $1542 Airbnb ROI: N/A Traditional ROI: 4.66%
1700 Piper Pl Alma, MI 1700 Piper Pl, Alma, MI 48801 \| Condo/Coop	2 beds \| 1 baths \| 1,060 sq.ft.	$148,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.64% Airbnb Rental Income: $null Traditional Rental Income: $1010 Airbnb ROI: N/A Traditional ROI: 1.64%
4820 W Lincoln Road Alma, MI This country one-story home sits on a peaceful half acre but is less than two minutes from...	3 beds \| 1 baths \| 1,592 sq.ft.	$169,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.73% Airbnb Rental Income: $null Traditional Rental Income: $1670 Airbnb ROI: N/A Traditional ROI: 7.73%
711 Mechanic Street Alma, MI Located walking distance to Alma College and Downtown Alma is 711 Mechanic. This 3 Bedroom...	3 beds \| 1 baths \| 1,000 sq.ft.	$134,900	Airbnb cash on cash: N/A Traditional cash on cash: 8.25% Airbnb Rental Income: $null Traditional Rental Income: $1486 Airbnb ROI: N/A Traditional ROI: 8.25%
348 N Grover Avenue Alma, MI Welcome home to this charming 2-bedroom, 1-bathroom home in Alma thatâs truly move-in re...	2 beds \| 1 baths \| 776 sq.ft.	$132,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.07% Airbnb Rental Income: $null Traditional Rental Income: $1307 Airbnb ROI: N/A Traditional ROI: 7.07%

Real Estate investment in Alma, MI

There are 64 properties for sale in the city of Alma . The median list price in Alma is $150,000 and the average price per square foot is $88. In April 2026, the average monthly cash on cash return in Alma is 8.00%. The average monthly rental income in Alma is $1,705.

Alma, MI Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 64 investment properties available for sale in Alma.

The ROI for Short-Term is higher than the Long-Term in Alma with average rental income of $N/A.

Your search for investment property begins and ends here

Investment Property for Sale in Alma, MI

247 Gemstone Drive

Alma, MI

3 beds | 3 baths | 1,325 sq.ft.

$324,900

Airbnb cash on cash: N/A

Traditional cash on cash: 5.36%

Airbnb Rental Income: $null

Traditional Rental Income: $2399

Airbnb ROI: N/A

Traditional ROI: 5.36%

516 Yale Avenue

Alma, MI

3 beds | 1 baths | 1,060 sq.ft.

$165,000

Airbnb cash on cash: N/A

Traditional cash on cash: 7.35%

Airbnb Rental Income: $null

Traditional Rental Income: $1542

Airbnb ROI: N/A

Traditional ROI: 7.35%

3892 N Ely Hwy

Alma, MI

2 beds | 2 baths | 1,100 sq.ft.

$130,000

Airbnb cash on cash: N/A

Traditional cash on cash: 11.94%

Airbnb Rental Income: $null

Traditional Rental Income: $1768

Airbnb ROI: N/A

Traditional ROI: 11.94%

5340 Blue Heron Drive

Alma, MI

3 beds | 3 baths | 2,880 sq.ft.

$364,000

Airbnb cash on cash: N/A

Traditional cash on cash: 3.16%

Airbnb Rental Income: $null

Traditional Rental Income: $1824

Airbnb ROI: N/A

Traditional ROI: 3.16%

913 Pine Avenue

Alma, MI

3 beds | 1 baths | 1,152 sq.ft.

$219,900

Airbnb cash on cash: N/A

Traditional cash on cash: 6.78%

Airbnb Rental Income: $null

Traditional Rental Income: $1748

Airbnb ROI: N/A

Traditional ROI: 6.78%

800 Ely Street

Alma, MI

3 beds | 2 baths | 1,070 sq.ft.

$129,000

Airbnb cash on cash: N/A

Traditional cash on cash: 11.63%

Airbnb Rental Income: $null

Traditional Rental Income: $1832

Airbnb ROI: N/A

Traditional ROI: 11.63%

804 Woodworth Avenue

Alma, MI

4 beds | 2 baths | 1,891 sq.ft.

$189,000

Airbnb cash on cash: N/A

Traditional cash on cash: 10.25%

Airbnb Rental Income: $null

Traditional Rental Income: $2377

Airbnb ROI: N/A

Traditional ROI: 10.25%

309 S State Street

Alma, MI

3 beds | 1 baths | 1,023 sq.ft.

$172,500

Airbnb cash on cash: N/A

Traditional cash on cash: 7.35%

Airbnb Rental Income: $null

Traditional Rental Income: $1611

Airbnb ROI: N/A