Real Estate Investment Properties for Sale in Alpena, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
306 Elizabeth St Alpena, MI Beautiful 2-bed 1-bath home situated on a large lot in the city limits! The main level off...	2 beds \| 1 baths \| 1,584 sq.ft.	$164,900	Airbnb cash on cash: N/A Traditional cash on cash: 10.17% Airbnb Rental Income: $null Traditional Rental Income: $1940 Airbnb ROI: N/A Traditional ROI: 10.17%
528 Sable Street Alpena, MI Adorable two-bedroom home in the heart of the City of Alpena! Featuring brand-new flooring...	2 beds \| 1 baths \| 1,660 sq.ft.	$120,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.3% Airbnb Rental Income: $null Traditional Rental Income: $1010 Airbnb ROI: N/A Traditional ROI: 6.3%
232 S First Avenue Alpena, MI Step into timeless elegance with this 6000 plus sq ft, two story, four bedroom, six bath r...	4 beds \| 5 baths \| 6,791 sq.ft.	$895,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.88% Airbnb Rental Income: $null Traditional Rental Income: $6415 Airbnb ROI: N/A Traditional ROI: 5.88%
635 W Washington Ave Alpena, MI A RARE GEM right within the city limits! This stunning 4-bedroom, 4- full bathroom home of...	4 beds \| 4 baths \| 3,237 sq.ft.	$549,500	Airbnb cash on cash: N/A Traditional cash on cash: 5.33% Airbnb Rental Income: $null Traditional Rental Income: $3615 Airbnb ROI: N/A Traditional ROI: 5.33%
920 Sable Street Alpena, MI Own this beautiful two-bedroom, two-bath home with well cared for hardwood floors, main le...	2 beds \| 2 baths \| 2,508 sq.ft.	$199,900	Airbnb cash on cash: N/A Traditional cash on cash: 9.93% Airbnb Rental Income: $null Traditional Rental Income: $2365 Airbnb ROI: N/A Traditional ROI: 9.93%
212 Long Rapids Road Alpena, MI BACK ON THE MARKET DUE TO BUYERS FINANCING! Escape to your own private retreat without eve...	4 beds \| 4 baths \| 4,293 sq.ft.	$699,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.26% Airbnb Rental Income: $null Traditional Rental Income: $3071 Airbnb ROI: N/A Traditional ROI: 2.26%
1460 Long Rapids Road Alpena, MI This 3-bedroom, 2-bath home offers 1,680 sq ft of comfortable living space on a generous 1...	3 beds \| 2 baths \| 2,520 sq.ft.	$265,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.24% Airbnb Rental Income: $null Traditional Rental Income: $1787 Airbnb ROI: N/A Traditional ROI: 5.24%
105 Sitting Bull Road Alpena, MI Brand-new home! This beautifully constructed 2-bedroom, 2-bath residence offers modern com...	2 beds \| 2 baths \| 960 sq.ft.	$149,900	Airbnb cash on cash: N/A Traditional cash on cash: 8.83% Airbnb Rental Income: $null Traditional Rental Income: $1719 Airbnb ROI: N/A Traditional ROI: 8.83%
303 S State Ave Alpena, MI THE CASTLE like no other! Fully furnished. Turnkey w/hand carved solid wood furniture, art...	5 beds \| 4 baths \| 7,443 sq.ft.	$1,800,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.37% Airbnb Rental Income: $null Traditional Rental Income: $4987 Airbnb ROI: N/A Traditional ROI: 1.37%
1225 Trowbridge Drive Alpena, MI Wake up every morning in this stunning 4-bedroom, 4-bathroom home, tucked inside one of th...	4 beds \| N/A baths \| 5,757 sq.ft.	$850,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.83% Airbnb Rental Income: $null Traditional Rental Income: $3683 Airbnb ROI: N/A Traditional ROI: 2.83%
121 Channel Rd Alpena, MI NEW AC, Water Heater, and Heating system! There's something special about life on the chan...	3 beds \| 2 baths \| 1,950 sq.ft.	$415,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.68% Airbnb Rental Income: $null Traditional Rental Income: $3005 Airbnb ROI: N/A Traditional ROI: 5.68%
2223 N Partridge Point Road Alpena, MI Lake Huron living at its best! This 3-bedroom, 2-bath home sits on 106 feet of gorgeous fr...	3 beds \| 2 baths \| 2,710 sq.ft.	$420,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.98% Airbnb Rental Income: $null Traditional Rental Income: $3043 Airbnb ROI: N/A Traditional ROI: 5.98%
4721 Haken Road Alpena, MI Discover the charm & potential of this spacious 3-bedroom ranch-style home nestled on a st...	3 beds \| 1 baths \| 1,424 sq.ft.	$419,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.2% Airbnb Rental Income: $null Traditional Rental Income: $2008 Airbnb ROI: N/A Traditional ROI: 3.2%
104 Birdie Lane Alpena, MI This delightful 2-bedroom, 1-bath home sits just steps from the golf course-fitting for it...	2 beds \| 1 baths \| 1,650 sq.ft.	$159,200	Airbnb cash on cash: N/A Traditional cash on cash: 9.05% Airbnb Rental Income: $null Traditional Rental Income: $1733 Airbnb ROI: N/A Traditional ROI: 9.05%
916 S First Avenue Alpena, MI This cozy ranch home is a perfect starter or retirement home with 3 bedrooms and a full ba...	3 beds \| 1 baths \| 1,104 sq.ft.	$159,900	Airbnb cash on cash: N/A Traditional cash on cash: 9.32% Airbnb Rental Income: $null Traditional Rental Income: $1892 Airbnb ROI: N/A Traditional ROI: 9.32%
386 & 390 S Brooke Street Alpena, MI Exceptional investment opportunity! This two-unit ranch duplex features a spacious three-b...	5 beds \| N/A baths \| 2,465 sq.ft.	$225,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.27% Airbnb Rental Income: $null Traditional Rental Income: $2442 Airbnb ROI: N/A Traditional ROI: 8.27%
701 S Brooke Street Alpena, MI One level living! You will enjoy the open spaces in this rambling ranch. Large living room...	3 beds \| 2 baths \| 1,500 sq.ft.	$190,000	Airbnb cash on cash: N/A Traditional cash on cash: 10.11% Airbnb Rental Income: $null Traditional Rental Income: $2223 Airbnb ROI: N/A Traditional ROI: 10.11%
1711 LAKE WINYAH Alpena, MI COZY 2290 SQ FOOT BI LEVEL SITTING ON 1 ACRE OF STUNNING LAND. THIS HOME NOT ONLY FEATURES...	4 beds \| 2 baths \| 2,290 sq.ft.	$250,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.85% Airbnb Rental Income: $null Traditional Rental Income: $2894 Airbnb ROI: N/A Traditional ROI: 9.85%
925 S 8th Street Ave Alpena, MI CHARMING 3-BEDROOM RANCH WITH VINTAGE CHARACTER AND MODERN UPDATES Welcome to a home where...	3 beds \| 1 baths \| 1,147 sq.ft.	$194,500	Airbnb cash on cash: N/A Traditional cash on cash: 4.57% Airbnb Rental Income: $null Traditional Rental Income: $1260 Airbnb ROI: N/A Traditional ROI: 4.57%
2904 Connon Street Alpena, MI Charming 3-Bedroom Ranch Just Outside City Limits! Discover comfort and convenience in thi...	3 beds \| 1 baths \| 1,272 sq.ft.	$199,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.16% Airbnb Rental Income: $null Traditional Rental Income: $1973 Airbnb ROI: N/A Traditional ROI: 8.16%
259 N Lawn St Alpena, MI You'll find everything that you need in this cozy city gem located just a few blocks from ...	3 beds \| 2 baths \| 1,976 sq.ft.	$179,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.07% Airbnb Rental Income: $null Traditional Rental Income: $1260 Airbnb ROI: N/A Traditional ROI: 5.07%
313 S 7th Avenue Alpena, MI	2 beds \| 1 baths \| 1,354 sq.ft.	$112,500	Airbnb cash on cash: N/A Traditional cash on cash: 6.48% Airbnb Rental Income: $null Traditional Rental Income: $1010 Airbnb ROI: N/A Traditional ROI: 6.48%
124 W Miller St Alpena, MI This home belonged to one of the original owners of the Douville Bakery. Step into timeles...	3 beds \| 1 baths \| 1,344 sq.ft.	$130,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.37% Airbnb Rental Income: $null Traditional Rental Income: $1260 Airbnb ROI: N/A Traditional ROI: 7.37%

Real Estate investment in Alpena, MI

There are 24 properties for sale in the city of Alpena . The median list price in Alpena is $194,500 and the average price per square foot is $78. In January 2026, the average monthly cash on cash return in Alpena is 7.00%. The average monthly rental income in Alpena is $1,752.

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

There are 24 investment properties available for sale in Alpena.

In 2026, the best neighborhood to buy investment property is Alpena.

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

Your search for investment property begins and ends here

Investment Property for Sale in Alpena, MI

306 Elizabeth St

Alpena, MI

2 beds | 1 baths | 1,584 sq.ft.

$164,900

Airbnb cash on cash: N/A

Traditional cash on cash: 10.17%

Airbnb Rental Income: $null

Traditional Rental Income: $1940

Airbnb ROI: N/A

Traditional ROI: 10.17%

528 Sable Street

Alpena, MI

2 beds | 1 baths | 1,660 sq.ft.

$120,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.3%

Airbnb Rental Income: $null

Traditional Rental Income: $1010

Airbnb ROI: N/A

Traditional ROI: 6.3%

232 S First Avenue

Alpena, MI

4 beds | 5 baths | 6,791 sq.ft.

$895,000

Airbnb cash on cash: N/A

Traditional cash on cash: 5.88%

Airbnb Rental Income: $null

Traditional Rental Income: $6415

Airbnb ROI: N/A

Traditional ROI: 5.88%

635 W Washington Ave

Alpena, MI

4 beds | 4 baths | 3,237 sq.ft.

$549,500

Airbnb cash on cash: N/A

Traditional cash on cash: 5.33%

Airbnb Rental Income: $null

Traditional Rental Income: $3615

Airbnb ROI: N/A

Traditional ROI: 5.33%

920 Sable Street

Alpena, MI

2 beds | 2 baths | 2,508 sq.ft.

$199,900

Airbnb cash on cash: N/A

Traditional cash on cash: 9.93%

Airbnb Rental Income: $null

Traditional Rental Income: $2365

Airbnb ROI: N/A

Traditional ROI: 9.93%

212 Long Rapids Road

Alpena, MI

4 beds | 4 baths | 4,293 sq.ft.

$699,000

Airbnb cash on cash: N/A

Traditional cash on cash: 2.26%

Airbnb Rental Income: $null

Traditional Rental Income: $3071

Airbnb ROI: N/A

Traditional ROI: 2.26%

1460 Long Rapids Road

Alpena, MI

3 beds | 2 baths | 2,520 sq.ft.

$265,000

Airbnb cash on cash: N/A

Traditional cash on cash: 5.24%

Airbnb Rental Income: $null

Traditional Rental Income: $1787

Airbnb ROI: N/A

Traditional ROI: 5.24%

105 Sitting Bull Road

Alpena, MI

2 beds | 2 baths | 960 sq.ft.

$149,900

Airbnb cash on cash: N/A

Traditional cash on cash: 8.83%

Airbnb Rental Income: $null

Traditional Rental Income: $1719

Airbnb ROI: N/A