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
101 Kensington Court Alpena, MI Beautiful home in a desirable neighborhood situated on a corner lot near the junior high s...	4 beds \| 3 baths \| 2,604 sq.ft.	$434,900	Airbnb cash on cash: 0.63% Traditional cash on cash: 4.67% Airbnb Rental Income: $1503 Traditional Rental Income: $2707 Airbnb ROI: 0.63% Traditional ROI: 4.67%
306 Elizabeth Street 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: 0.13% Traditional cash on cash: 10.17% Airbnb Rental Income: $661 Traditional Rental Income: $1940 Airbnb ROI: 0.13% Traditional ROI: 10.17%
207 Mason Street Alpena, MI This luxurious open concept home in the City of Alpena was beautifully remodeled in 2005. ...	4 beds \| 3 baths \| 2,659 sq.ft.	$379,000	Airbnb cash on cash: 1.15% Traditional cash on cash: 6.41% Airbnb Rental Income: $1503 Traditional Rental Income: $2933 Airbnb ROI: 1.15% Traditional ROI: 6.41%
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.	$269,000	Airbnb cash on cash: 0.31% Traditional cash on cash: 8.51% Airbnb Rental Income: $977 Traditional Rental Income: $2707 Airbnb ROI: 0.31% Traditional ROI: 8.51%
425 S State Avenue Alpena, MI Wonderful Lake Huron area get-a-way or retirement home across the street from Lake Huron! ...	2 beds \| 1 baths \| 1,856 sq.ft.	$209,000	Airbnb cash on cash: -0.73% Traditional cash on cash: 2.54% Airbnb Rental Income: $661 Traditional Rental Income: $1010 Airbnb ROI: -0.73% Traditional ROI: 2.54%
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: -0.55% Traditional cash on cash: 5.88% Airbnb Rental Income: $1503 Traditional Rental Income: $6415 Airbnb ROI: -0.55% Traditional ROI: 5.88%
635 W Washington Avenue 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.	$524,500	Airbnb cash on cash: 0.42% Traditional cash on cash: 5.63% Airbnb Rental Income: $1503 Traditional Rental Income: $3615 Airbnb ROI: 0.42% Traditional ROI: 5.63%
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.	$409,000	Airbnb cash on cash: -0.46% Traditional cash on cash: 5.45% Airbnb Rental Income: $977 Traditional Rental Income: $2889 Airbnb ROI: -0.46% Traditional ROI: 5.45%
2155 Hobbs Drive Alpena, MI This wonderfully updated 5 bedroom , 3 bath home features a large entry to the living room...	5 beds \| 3 baths \| 2,252 sq.ft.	$219,900	Airbnb cash on cash: 3.31% Traditional cash on cash: 8.84% Airbnb Rental Income: $1594 Traditional Rental Income: $2290 Airbnb ROI: 3.31% Traditional ROI: 8.84%
307 Minor Street Alpena, MI Located in a friendly neighborhood, 307 Minor St. is a lovingly kept residence nestled in ...	2 beds \| 2 baths \| 2,952 sq.ft.	$195,000	Airbnb cash on cash: -0.66% Traditional cash on cash: 6.95% Airbnb Rental Income: $661 Traditional Rental Income: $1771 Airbnb ROI: -0.66% Traditional ROI: 6.95%
6234 French Road Alpena, MI Pleasant ranch home on paved road just minutes from town and Long Lake boat launch. Many u...	3 beds \| 1 baths \| 1,352 sq.ft.	$177,500	Airbnb cash on cash: 1.49% Traditional cash on cash: 10.08% Airbnb Rental Income: $977 Traditional Rental Income: $2076 Airbnb ROI: 1.49% Traditional ROI: 10.08%
433 W Lincoln Street Alpena, MI Make this your next home! Located in close proximity to many of the amenities offered in A...	3 beds \| 1 baths \| 1,264 sq.ft.	$179,500	Airbnb cash on cash: 0.99% Traditional cash on cash: 10.42% Airbnb Rental Income: $977 Traditional Rental Income: $2236 Airbnb ROI: 0.99% Traditional ROI: 10.42%
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: 1.7% Traditional cash on cash: 8.4% Airbnb Rental Income: $1503 Traditional Rental Income: $2770 Airbnb ROI: 1.7% Traditional ROI: 8.4%
1309 Crestview Drive Alpena, MI Spanish style brick ranch nestled in a wonderful neighborhood close to schools, hospital a...	3 beds \| 2 baths \| 1,476 sq.ft.	$225,000	Airbnb cash on cash: 0.77% Traditional cash on cash: 9.06% Airbnb Rental Income: $977 Traditional Rental Income: $2391 Airbnb ROI: 0.77% Traditional ROI: 9.06%
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: 0.03% Traditional cash on cash: 9.05% Airbnb Rental Income: $661 Traditional Rental Income: $1733 Airbnb ROI: 0.03% Traditional ROI: 9.05%
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.	$170,000	Airbnb cash on cash: 1.52% Traditional cash on cash: 11.38% Airbnb Rental Income: $977 Traditional Rental Income: $2223 Airbnb ROI: 1.52% Traditional ROI: 11.38%
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: 2.09% Traditional cash on cash: 9.85% Airbnb Rental Income: $1503 Traditional Rental Income: $2894 Airbnb ROI: 2.09% Traditional ROI: 9.85%
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: -0.02% Traditional cash on cash: 6.83% Airbnb Rental Income: $977 Traditional Rental Income: $2085 Airbnb ROI: -0.02% Traditional ROI: 6.83%
602 S Brooke Street Alpena, MI Well-maintained 3-bedroom, 2-bathroom home in a convenient location close to schools, rest...	3 beds \| 2 baths \| 1,518 sq.ft.	$167,900	Airbnb cash on cash: 0.82% Traditional cash on cash: 11.78% Airbnb Rental Income: $977 Traditional Rental Income: $2381 Airbnb ROI: 0.82% Traditional ROI: 11.78%
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.	$283,500	Airbnb cash on cash: 0.34% Traditional cash on cash: 7.86% Airbnb Rental Income: $977 Traditional Rental Income: $2635 Airbnb ROI: 0.34% Traditional ROI: 7.86%
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: -1.44% Traditional cash on cash: 2.5% Airbnb Rental Income: $977 Traditional Rental Income: $2567 Airbnb ROI: -1.44% Traditional ROI: 2.5%

Real Estate investment in Alpena, MI

There are 43 properties for sale in the city of Alpena . The median list price in Alpena is $209,000 and the average price per square foot is $106. In April 2026, the average monthly cash on cash return in Alpena is 8.00%. The average monthly rental income in Alpena is $2,024.

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

There are 43 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 $2,024.

Your search for investment property begins and ends here

Investment Property for Sale in Alpena, MI

101 Kensington Court

Alpena, MI

4 beds | 3 baths | 2,604 sq.ft.

$434,900

Airbnb cash on cash: 0.63%

Traditional cash on cash: 4.67%

Airbnb Rental Income: $1503

Traditional Rental Income: $2707

Airbnb ROI: 0.63%

Traditional ROI: 4.67%

306 Elizabeth Street

Alpena, MI

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

$164,900

Airbnb cash on cash: 0.13%

Traditional cash on cash: 10.17%

Airbnb Rental Income: $661

Traditional Rental Income: $1940

Airbnb ROI: 0.13%

Traditional ROI: 10.17%

207 Mason Street

Alpena, MI

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

$379,000

Airbnb cash on cash: 1.15%

Traditional cash on cash: 6.41%

Airbnb Rental Income: $1503

Traditional Rental Income: $2933

Airbnb ROI: 1.15%

Traditional ROI: 6.41%

101 Island View Drive

Alpena, MI

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

$269,000

Airbnb cash on cash: 0.31%

Traditional cash on cash: 8.51%

Airbnb Rental Income: $977

Traditional Rental Income: $2707

Airbnb ROI: 0.31%

Traditional ROI: 8.51%

425 S State Avenue

Alpena, MI

2 beds | 1 baths | 1,856 sq.ft.

$209,000

Airbnb cash on cash: -0.73%

Traditional cash on cash: 2.54%

Airbnb Rental Income: $661

Traditional Rental Income: $1010

Airbnb ROI: -0.73%

Traditional ROI: 2.54%

232 S First Avenue

Alpena, MI

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

$895,000

Airbnb cash on cash: -0.55%

Traditional cash on cash: 5.88%

Airbnb Rental Income: $1503

Traditional Rental Income: $6415

Airbnb ROI: -0.55%

Traditional ROI: 5.88%

635 W Washington Avenue

Alpena, MI

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

$524,500

Airbnb cash on cash: 0.42%

Traditional cash on cash: 5.63%

Airbnb Rental Income: $1503

Traditional Rental Income: $3615

Airbnb ROI: 0.42%

Traditional ROI: 5.63%

121 Channel Road 1

Alpena, MI

3 beds | 2 baths | 1,950 sq.ft.

$409,000

Airbnb cash on cash: -0.46%

Traditional cash on cash: 5.45%

Airbnb Rental Income: $977

Traditional Rental Income: $2889

Airbnb ROI: -0.46%