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
111 Canterbury Lane Alpena, MI Discover Effortless Living in Village Green - A Beautifully Updated, Move-In-Ready Townhom...	2 beds \| 2 baths \| 882 sq.ft.	$176,999	Airbnb cash on cash: 2.46% Traditional cash on cash: 6.43% Airbnb Rental Income: $1201 Traditional Rental Income: $1481 Airbnb ROI: 2.46% Traditional ROI: 6.43%
5065 Misery Bay Road Alpena, MI Experience the magic of true Up North living where sunrise mornings, sparkling Lake Huron ...	4 beds \| 4 baths \| 3,648 sq.ft.	$559,000	Airbnb cash on cash: 0.2% Traditional cash on cash: 6.46% Airbnb Rental Income: $1530 Traditional Rental Income: $4359 Airbnb ROI: 0.2% Traditional ROI: 6.46%
733 River Street Alpena, MI	3 beds \| 1 baths \| 2,080 sq.ft.	$150,000	Airbnb cash on cash: 4.35% Traditional cash on cash: 11.62% Airbnb Rental Income: $1401 Traditional Rental Income: $2021 Airbnb ROI: 4.35% Traditional ROI: 11.62%
207 Mason Street Alpena, MI Back on the market at no fault of the seller. This luxurious open concept home in the City...	4 beds \| 3 baths \| 2,659 sq.ft.	$372,000	Airbnb cash on cash: 1.25% Traditional cash on cash: 6.55% Airbnb Rental Income: $1530 Traditional Rental Income: $2933 Airbnb ROI: 1.25% Traditional ROI: 6.55%
101 Island View Drive Alpena, MI This home is truly move-in ready, reflecting the pride of meticulous ownership. It's packe...	3 beds \| 2 baths \| 2,088 sq.ft.	$264,900	Airbnb cash on cash: 1.74% Traditional cash on cash: 8.66% Airbnb Rental Income: $1401 Traditional Rental Income: $2707 Airbnb ROI: 1.74% Traditional ROI: 8.66%
1098 Wayne Road Alpena, MI Welcome to this cute 3-bedroom, 2-bathroom ranch home located in Alpena Township. This hom...	3 beds \| 2 baths \| 1,100 sq.ft.	$183,000	Airbnb cash on cash: 3.5% Traditional cash on cash: 9.71% Airbnb Rental Income: $1401 Traditional Rental Income: $2060 Airbnb ROI: 3.5% Traditional ROI: 9.71%
408 W Lincoln Street Alpena, MI Charming 2-bedroom, 2-bath home blending timeless character with modern comfort! This invi...	2 beds \| 2 baths \| 2,420 sq.ft.	$239,999	Airbnb cash on cash: 0.9% Traditional cash on cash: 7.33% Airbnb Rental Income: $1201 Traditional Rental Income: $2271 Airbnb ROI: 0.9% Traditional ROI: 7.33%
229 Helen Street Alpena, MI Bigger than it looks, this spacious ranch home is perfect for anyone! The open, main floor...	3 beds \| 2 baths \| 2,760 sq.ft.	$259,000	Airbnb cash on cash: 1.46% Traditional cash on cash: 8.57% Airbnb Rental Income: $1401 Traditional Rental Income: $2715 Airbnb ROI: 1.46% Traditional ROI: 8.57%
215 Fair Avenue Alpena, MI This unique and beautiful 4-bedroom, 2-bath home is nestled on an oversized lot in the hea...	4 beds \| 2 baths \| 3,108 sq.ft.	$349,900	Airbnb cash on cash: 1.33% Traditional cash on cash: 3.84% Airbnb Rental Income: $1530 Traditional Rental Income: $1910 Airbnb ROI: 1.33% Traditional ROI: 3.84%
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: -0.52% Traditional cash on cash: 5.88% Airbnb Rental Income: $1530 Traditional Rental Income: $6415 Airbnb ROI: -0.52% Traditional ROI: 5.88%
126 Garfield Street Alpena, MI Discover the perfect blend of comfort and convenience in this charming 3-bed, 3-bath home ...	3 beds \| 3 baths \| 1,474 sq.ft.	$244,900	Airbnb cash on cash: 2% Traditional cash on cash: 9.31% Airbnb Rental Income: $1401 Traditional Rental Income: $2669 Airbnb ROI: 2% Traditional ROI: 9.31%
4431 Long Rapids Road Alpena, MI RARE OPPORTUNITY, Combination of land and Water Front, 4 acres - 870 Ft of water frontage ...	4 beds \| 3 baths \| 2,700 sq.ft.	$597,000	Airbnb cash on cash: -0.75% Traditional cash on cash: 3.2% Airbnb Rental Income: $1530 Traditional Rental Income: $3285 Airbnb ROI: -0.75% Traditional ROI: 3.2%
121 Channel Road 1 Alpena, MI NEW AC, water heater, and heating system. This channel-front home offers direct access to ...	3 beds \| 2 baths \| 1,950 sq.ft.	$399,900	Airbnb cash on cash: 0.5% Traditional cash on cash: 5.59% Airbnb Rental Income: $1401 Traditional Rental Income: $2889 Airbnb ROI: 0.5% Traditional ROI: 5.59%
423 W Campbell Street Alpena, MI This comfortable 3 bedroom one bath home is one you need to see because there is more than...	3 beds \| 1 baths \| 2,370 sq.ft.	$179,900	Airbnb cash on cash: 3.39% Traditional cash on cash: 9.41% Airbnb Rental Income: $1401 Traditional Rental Income: $2010 Airbnb ROI: 3.39% Traditional ROI: 9.41%
6234 French Road Alpena, MI Move right into this ranch style 3-bedroom, 1-bath home set on .80 acres that is close to ...	3 beds \| 1 baths \| 1,352 sq.ft.	$174,900	Airbnb cash on cash: 3.65% Traditional cash on cash: 10.24% Airbnb Rental Income: $1401 Traditional Rental Income: $2076 Airbnb ROI: 3.65% Traditional ROI: 10.24%
205 Sunset Boulevard Alpena, MI Lovely 3 bedroom 2 bath Ranch 1345 sq ft upstairs and 1345 sq ft in basement This Spacious...	3 beds \| 2 baths \| 1,345 sq.ft.	$277,500	Airbnb cash on cash: 1.74% Traditional cash on cash: 8.45% Airbnb Rental Income: $1401 Traditional Rental Income: $2734 Airbnb ROI: 1.74% Traditional ROI: 8.45%
8610 Lincoln Bay Drive Alpena, MI Sunrise side at it's finest ! Enjoy beautiful sunrises every day from your covered porch. ...	4 beds \| 3 baths \| 1,500 sq.ft.	$360,000	Airbnb cash on cash: 1.45% Traditional cash on cash: 7.65% Airbnb Rental Income: $1530 Traditional Rental Income: $3183 Airbnb ROI: 1.45% Traditional ROI: 7.65%
567 Long Rapids Road Alpena, MI Great City location with all the feel of country living. Short distance to the hospital an...	4 beds \| 2 baths \| 1,866 sq.ft.	$269,900	Airbnb cash on cash: 1.79% Traditional cash on cash: 8.4% Airbnb Rental Income: $1530 Traditional Rental Income: $2770 Airbnb ROI: 1.79% Traditional ROI: 8.4%
310 W Campbell Street Alpena, MI Motivated seller! Older style home with lots of charm and character. The large apartments ...	4 beds \| 2 baths \| 2,273 sq.ft.	$224,900	Airbnb cash on cash: 1.87% Traditional cash on cash: 7.92% Airbnb Rental Income: $1530 Traditional Rental Income: $2374 Airbnb ROI: 1.87% Traditional ROI: 7.92%
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: 2.99% Traditional cash on cash: 9.05% Airbnb Rental Income: $1201 Traditional Rental Income: $1733 Airbnb ROI: 2.99% Traditional ROI: 9.05%
6815 Wessel Road Alpena, MI Well-maintained 2003 manufactured featuring a custom walk-in shower and functional living ...	3 beds \| 2 baths \| 1,260 sq.ft.	$225,000	Airbnb cash on cash: 1.64% Traditional cash on cash: 6.83% Airbnb Rental Income: $1401 Traditional Rental Income: $2085 Airbnb ROI: 1.64% Traditional ROI: 6.83%
1090 Oakridge Drive Alpena, MI Enjoy the peacefulness of this 3-bedroom, 2-bath home with an attached garage and a spacio...	3 beds \| 2 baths \| 2,432 sq.ft.	$279,000	Airbnb cash on cash: 1.7% Traditional cash on cash: 8% Airbnb Rental Income: $1401 Traditional Rental Income: $2635 Airbnb ROI: 1.7% Traditional ROI: 8%
17952 Birch Street Alpena, MI Enjoy waterfront living in this charming three bedroom, one and a half bath home situated ...	3 beds \| 2 baths \| 1,600 sq.ft.	$526,000	Airbnb cash on cash: -0.73% Traditional cash on cash: 2.5% Airbnb Rental Income: $1401 Traditional Rental Income: $2567 Airbnb ROI: -0.73% Traditional ROI: 2.5%
3352 French Road Alpena, MI Large Ranch home close to schools & shopping. Natural gas fireplace Insert in Living room ...	3 beds \| 1 baths \| 1,456 sq.ft.	$168,000	Airbnb cash on cash: 3.64% Traditional cash on cash: 10.03% Airbnb Rental Income: $1401 Traditional Rental Income: $2002 Airbnb ROI: 3.64% Traditional ROI: 10.03%
105 N 2nd Avenue Alpena, MI This beautiful downtown building still has original brick work on the upper level and is p...	2 beds \| 2 baths \| 3,662 sq.ft.	$530,000	Airbnb cash on cash: 0.04% Traditional cash on cash: 2.26% Airbnb Rental Income: $1201 Traditional Rental Income: $1912 Airbnb ROI: 0.04% Traditional ROI: 2.26%
328 W Washington Avenue Alpena, MI Looking for an investment property that is in immaculate condition. This Alpena duplex loc...	4 beds \| 2 baths \| 2,352 sq.ft.	$264,900	Airbnb cash on cash: 1.93% Traditional cash on cash: 8.78% Airbnb Rental Income: $1530 Traditional Rental Income: $2797 Airbnb ROI: 1.93% Traditional ROI: 8.78%

Real Estate investment in Alpena, MI

There are 70 properties for sale in the city of Alpena . The median list price in Alpena is $192,401 and the average price per square foot is $92. In June 2026, the average monthly cash on cash return in Alpena is 8.00%. The average monthly rental income in Alpena is $2,010.

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

There are 70 investment properties available for sale in Alpena.

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

The ROI for Long-Term is higher than the Short-Term in Alpena with average rental income of $2,010.

Your search for investment property begins and ends here

Investment Property for Sale in Alpena, MI

111 Canterbury Lane

Alpena, MI

2 beds | 2 baths | 882 sq.ft.

$176,999

Airbnb cash on cash: 2.46%

Traditional cash on cash: 6.43%

Airbnb Rental Income: $1201

Traditional Rental Income: $1481

Airbnb ROI: 2.46%

Traditional ROI: 6.43%

5065 Misery Bay Road

Alpena, MI

4 beds | 4 baths | 3,648 sq.ft.

$559,000

Airbnb cash on cash: 0.2%

Traditional cash on cash: 6.46%

Airbnb Rental Income: $1530

Traditional Rental Income: $4359

Airbnb ROI: 0.2%

Traditional ROI: 6.46%

733 River Street

Alpena, MI

3 beds | 1 baths | 2,080 sq.ft.

$150,000

Airbnb cash on cash: 4.35%

Traditional cash on cash: 11.62%

Airbnb Rental Income: $1401

Traditional Rental Income: $2021

Airbnb ROI: 4.35%

Traditional ROI: 11.62%

207 Mason Street

Alpena, MI

4 beds | 3 baths | 2,659 sq.ft.

$372,000

Airbnb cash on cash: 1.25%

Traditional cash on cash: 6.55%

Airbnb Rental Income: $1530

Traditional Rental Income: $2933

Airbnb ROI: 1.25%

Traditional ROI: 6.55%

101 Island View Drive

Alpena, MI

3 beds | 2 baths | 2,088 sq.ft.

$264,900

Airbnb cash on cash: 1.74%

Traditional cash on cash: 8.66%

Airbnb Rental Income: $1401

Traditional Rental Income: $2707

Airbnb ROI: 1.74%

Traditional ROI: 8.66%

1098 Wayne Road

Alpena, MI

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

$183,000

Airbnb cash on cash: 3.5%

Traditional cash on cash: 9.71%

Airbnb Rental Income: $1401

Traditional Rental Income: $2060

Airbnb ROI: 3.5%

Traditional ROI: 9.71%

408 W Lincoln Street

Alpena, MI

2 beds | 2 baths | 2,420 sq.ft.

$239,999

Airbnb cash on cash: 0.9%

Traditional cash on cash: 7.33%

Airbnb Rental Income: $1201

Traditional Rental Income: $2271

Airbnb ROI: 0.9%

Traditional ROI: 7.33%

229 Helen Street

Alpena, MI

3 beds | 2 baths | 2,760 sq.ft.

$259,000

Airbnb cash on cash: 1.46%

Traditional cash on cash: 8.57%

Airbnb Rental Income: $1401

Traditional Rental Income: $2715

Airbnb ROI: 1.46%