Real Estate Investment Properties for Sale in Dowagiac, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
28750 Steve Road Dowagiac, MI Lovely Residence in a great community! This 4 bedroom 2 and a half bath is a families drea...	4 beds \| N/A baths \| 2,256 sq.ft.	$250,000	Airbnb cash on cash: 8.69% Traditional cash on cash: 10.48% Airbnb Rental Income: $3282 Traditional Rental Income: $2969 Airbnb ROI: 8.69% Traditional ROI: 10.48%
322 Oak Street Dowagiac, MI Welcome to Dowagiac. This home offers 3 bedrooms and great space. Located by great schools...	3 beds \| 1 baths \| 1,286 sq.ft.	$140,000	Airbnb cash on cash: 4.24% Traditional cash on cash: 9.14% Airbnb Rental Income: $1391 Traditional Rental Income: $1629 Airbnb ROI: 4.24% Traditional ROI: 9.14%
50002 M 51 N Dowagiac, MI Welcome to 50002 M-51. This beautiful 30 acre pastured property, farm house, and buildings...	4 beds \| 1 baths \| 1,800 sq.ft.	$359,900	Airbnb cash on cash: 5.79% Traditional cash on cash: 3.95% Airbnb Rental Income: $3282 Traditional Rental Income: $1923 Airbnb ROI: 5.79% Traditional ROI: 3.95%
68448 Beechwood Drive Dowagiac, MI One of a kind! Stunning Lake Front Home on Beautiful Round Lake in Sister Lakes resort are...	4 beds \| N/A baths \| 4,105 sq.ft.	$2,199,000	Airbnb cash on cash: -0.47% Traditional cash on cash: 0.22% Airbnb Rental Income: $3282 Traditional Rental Income: $3959 Airbnb ROI: -0.47% Traditional ROI: 0.22%
50040 South Street Dowagiac, MI Magician Lake access home with two lots and lakeviews. This home has 2 bedrooms, 1 bath an...	2 beds \| 1 baths \| 903 sq.ft.	$239,900	Airbnb cash on cash: 2.35% Traditional cash on cash: 2.97% Airbnb Rental Income: $1372 Traditional Rental Income: $1094 Airbnb ROI: 2.35% Traditional ROI: 2.97%
307 E Telegraph Street Dowagiac, MI Charming and modern, this 2-bedroom, 1-bathroom bungalow in downtown Dowagiac is the perfe...	2 beds \| 1 baths \| 887 sq.ft.	$117,900	Airbnb cash on cash: 6.04% Traditional cash on cash: 7.03% Airbnb Rental Income: $1372 Traditional Rental Income: $1068 Airbnb ROI: 6.04% Traditional ROI: 7.03%
58560 Indian Lake Road Dowagiac, MI Serene lakefront retreat on secluded Little Smith Lake-just 30 mins from Notre Dame and 2 ...	3 beds \| 2 baths \| 2,721 sq.ft.	$699,000	Airbnb cash on cash: -0.29% Traditional cash on cash: 2.67% Airbnb Rental Income: $1391 Traditional Rental Income: $2901 Airbnb ROI: -0.29% Traditional ROI: 2.67%
66476 Oak Street Dowagiac, MI 2 neat and clean cottages all on their own lots with multiple, buildable other lots nearby...	2 beds \| N/A baths \| N/A	$99,900	Airbnb cash on cash: 5.42% Traditional cash on cash: 11.19% Airbnb Rental Income: $1372 Traditional Rental Income: $1514 Airbnb ROI: 5.42% Traditional ROI: 11.19%
93459 M 152 Dowagiac, MI Tucked away on 15.5 acres of lush, wooded land, this 2-bedroom, 2-bath brick ranch home of...	2 beds \| 2 baths \| 1,644 sq.ft.	$299,900	Airbnb cash on cash: 1.13% Traditional cash on cash: 5.67% Airbnb Rental Income: $1372 Traditional Rental Income: $2235 Airbnb ROI: 1.13% Traditional ROI: 5.67%
67560 95th Avenue Dowagiac, MI A true GEM! This unique property features two charming cottages on one lot with 40 feet of...	4 beds \| 2 baths \| 1,440 sq.ft.	$540,000	Airbnb cash on cash: 2.76% Traditional cash on cash: 2.24% Airbnb Rental Income: $3282 Traditional Rental Income: $2287 Airbnb ROI: 2.76% Traditional ROI: 2.24%
55132 M 51 N Dowagiac, MI Stone Ranch style home just outside of the city limits. Features include newer Hi-Efficien...	2 beds \| 2 baths \| 1,550 sq.ft.	$161,000	Airbnb cash on cash: 3.81% Traditional cash on cash: 11.85% Airbnb Rental Income: $1372 Traditional Rental Income: $2191 Airbnb ROI: 3.81% Traditional ROI: 11.85%
94687 Oak Street Dowagiac, MI Private waterfront living on Little Crooked Lake! Enjoy all sport lake views from the deck...	3 beds \| N/A baths \| 2,000 sq.ft.	$524,900	Airbnb cash on cash: -0.52% Traditional cash on cash: 2.2% Airbnb Rental Income: $1391 Traditional Rental Income: $2304 Airbnb ROI: -0.52% Traditional ROI: 2.2%
50479 Delling Drive Dowagiac, MI This is the magical vintage cottage we all remember going to for the summer as a child, or...	2 beds \| 1 baths \| 892 sq.ft.	$225,000	Airbnb cash on cash: 2.31% Traditional cash on cash: 4.91% Airbnb Rental Income: $1372 Traditional Rental Income: $1509 Airbnb ROI: 2.31% Traditional ROI: 4.91%
30485 Pokagon Highway Dowagiac, MI OPEN HOUSE! Tuesday, Oct 7, 4:30-6pm. Enjoy peaceful country living in this beautifully up...	4 beds \| 2 baths \| 1,830 sq.ft.	$229,900	Airbnb cash on cash: 9.75% Traditional cash on cash: 10.4% Airbnb Rental Income: $3282 Traditional Rental Income: $2688 Airbnb ROI: 9.75% Traditional ROI: 10.4%
50748 W Bay Road Dowagiac, MI Enjoy this stunning 3-bedroom, 1-bath home near Magician Lake on nearly 1/2 acre, offering...	3 beds \| 1 baths \| 1,200 sq.ft.	$250,000	Airbnb cash on cash: 1.86% Traditional cash on cash: 4.54% Airbnb Rental Income: $1391 Traditional Rental Income: $1604 Airbnb ROI: 1.86% Traditional ROI: 4.54%
25942 Dutch Settlement Street Dowagiac, MI Perfect for relaxed living - this 4 bedroom, 1.5 bathroom waterfront home is nestled on 1....	4 beds \| N/A baths \| 2,636 sq.ft.	$550,000	Airbnb cash on cash: 3.39% Traditional cash on cash: 4.09% Airbnb Rental Income: $3282 Traditional Rental Income: $2904 Airbnb ROI: 3.39% Traditional ROI: 4.09%
30170 Beeson Street Dowagiac, MI Subject to land division! Escape to your own private retreat on+/- 10 peaceful acres fille...	3 beds \| 3 baths \| 4,114 sq.ft.	$795,000	Airbnb cash on cash: -0.75% Traditional cash on cash: 2.22% Airbnb Rental Income: $1391 Traditional Rental Income: $3175 Airbnb ROI: -0.75% Traditional ROI: 2.22%
32314 Hilltop Dowagiac, MI Beautiful property location with private Cable lake access and stunning views . fishing pi...	2 beds \| 1 baths \| 890 sq.ft.	$239,500	Airbnb cash on cash: 2.16% Traditional cash on cash: 4.36% Airbnb Rental Income: $1372 Traditional Rental Income: $1454 Airbnb ROI: 2.16% Traditional ROI: 4.36%
26794 Dutch Settlement Street Dowagiac, MI Nestled on the tranquil shores of Mill Pond, this beautifully updated 4-bedroom, 2.5-bath ...	4 beds \| N/A baths \| 3,262 sq.ft.	$649,000	Airbnb cash on cash: 1.98% Traditional cash on cash: 3.52% Airbnb Rental Income: $3282 Traditional Rental Income: $3482 Airbnb ROI: 1.98% Traditional ROI: 3.52%
24984 Marcellus Highway Dowagiac, MI Charming 3 bed, 1 bath home on 5.2 scenic acres in Dowagiac! Enjoy a peaceful setting with...	3 beds \| 1 baths \| 1,176 sq.ft.	$274,900	Airbnb cash on cash: 2.04% Traditional cash on cash: 4.28% Airbnb Rental Income: $1391 Traditional Rental Income: $1551 Airbnb ROI: 2.04% Traditional ROI: 4.28%
55772 Indian Lake Road Dowagiac, MI Great location with this leased land cottage located a block away from the ILYC (yacht clu...	3 beds \| 2 baths \| 1,090 sq.ft.	$250,000	Airbnb cash on cash: 1.89% Traditional cash on cash: 6.43% Airbnb Rental Income: $1391 Traditional Rental Income: $2042 Airbnb ROI: 1.89% Traditional ROI: 6.43%
33160 Hunt Drive Dowagiac, MI Renovated home with additional finished sq ft added to this lakefront home on all sports I...	4 beds \| 2 baths \| 1,267 sq.ft.	$550,000	Airbnb cash on cash: 2.87% Traditional cash on cash: 2.18% Airbnb Rental Income: $3282 Traditional Rental Income: $2189 Airbnb ROI: 2.87% Traditional ROI: 2.18%
425 Chestnut Street Dowagiac, MI a new deck, and room to relax or play. Located just a half mile from Downtown Dowagiac's s...	3 beds \| 2 baths \| 1,645 sq.ft.	$210,000	Airbnb cash on cash: 1.81% Traditional cash on cash: 8.48% Airbnb Rental Income: $1391 Traditional Rental Income: $2298 Airbnb ROI: 1.81% Traditional ROI: 8.48%
56777 M-51 S Dowagiac, MI This spacious 3-bedroom, 2-story brick home offers the perfect blend of comfort, versatili...	4 beds \| N/A baths \| 2,577 sq.ft.	$365,000	Airbnb cash on cash: 5.67% Traditional cash on cash: 7.61% Airbnb Rental Income: $3282 Traditional Rental Income: $3210 Airbnb ROI: 5.67% Traditional ROI: 7.61%
24948 Lake Shore Drive Dowagiac, MI Your Lakefront Getaway Awaits! Beautifully renovated and move-in ready, this 3BR/2BA home ...	3 beds \| 2 baths \| 1,386 sq.ft.	$499,000	Airbnb cash on cash: 0.58% Traditional cash on cash: 3.58% Airbnb Rental Income: $1391 Traditional Rental Income: $2369 Airbnb ROI: 0.58% Traditional ROI: 3.58%
93505 Charles Street Dowagiac, MI CUTE ranch home with three beds and two full baths, just 5 minutes walk to Big Crooked Lak...	3 beds \| 2 baths \| 1,228 sq.ft.	$180,000	Airbnb cash on cash: 3.13% Traditional cash on cash: 8.81% Airbnb Rental Income: $1391 Traditional Rental Income: $1943 Airbnb ROI: 3.13% Traditional ROI: 8.81%
53075 Maple Street Dowagiac, MI Wonderful location for this 3 bedroom, 1 bath Ranch Home. Lovely Little Twin Lake Area. Wa...	3 beds \| 1 baths \| 990 sq.ft.	$199,900	Airbnb cash on cash: 2.81% Traditional cash on cash: 5.67% Airbnb Rental Income: $1391 Traditional Rental Income: $1512 Airbnb ROI: 2.81% Traditional ROI: 5.67%
29460 M-62 Dowagiac, MI Charming 3-Bedroom Ranch on 4.65 Acres with Creek Access Discover the potential in this 3-...	4 beds \| 1 baths \| 1,920 sq.ft.	$285,000	Airbnb cash on cash: 7.44% Traditional cash on cash: 5.92% Airbnb Rental Income: $3282 Traditional Rental Income: $2140 Airbnb ROI: 7.44% Traditional ROI: 5.92%
24369 Morton Dowagiac, MI Set just up the road from highly desirable Twin Lakes, this property offers the best of co...	3 beds \| 1 baths \| 1,560 sq.ft.	$460,000	Airbnb cash on cash: 0.71% Traditional cash on cash: 2.22% Airbnb Rental Income: $1391 Traditional Rental Income: $1620 Airbnb ROI: 0.71% Traditional ROI: 2.22%
406 Oak Street Dowagiac, MI *Updated pictures coming shortly* Welcome to 406 Oak Street in the heart of Dowagiac! ...	3 beds \| 1 baths \| 1,241 sq.ft.	$185,000	Airbnb cash on cash: 3.15% Traditional cash on cash: 7.14% Airbnb Rental Income: $1391 Traditional Rental Income: $1672 Airbnb ROI: 3.15% Traditional ROI: 7.14%
55945 Inn D Inn Drive Dowagiac, MI Location, Location, Location! This home offers all the perks of being near Indian Lake wit...	4 beds \| 2 baths \| 2,900 sq.ft.	$450,000	Airbnb cash on cash: 4.07% Traditional cash on cash: 4.51% Airbnb Rental Income: $3282 Traditional Rental Income: $2734 Airbnb ROI: 4.07% Traditional ROI: 4.51%
409 Spruce Street Dowagiac, MI Welcome to 409 Spruce Street, where everything has been thoughtfully redone from top to bo...	2 beds \| 1 baths \| 764 sq.ft.	$129,000	Airbnb cash on cash: 5.76% Traditional cash on cash: 7.98% Airbnb Rental Income: $1372 Traditional Rental Income: $1230 Airbnb ROI: 5.76% Traditional ROI: 7.98%
100 Dogwood Circle Dowagiac, MI Welcome to this meticulously maintained, 3-bedroom, 3.5-bath home in the City of Dowagiac!...	3 beds \| 4 baths \| 2,899 sq.ft.	$395,000	Airbnb cash on cash: 0.51% Traditional cash on cash: 6.42% Airbnb Rental Income: $1391 Traditional Rental Income: $3162 Airbnb ROI: 0.51% Traditional ROI: 6.42%
31273 County Line Road Dowagiac, MI Magician Lakefront home with a rare 110 lakefront feet and almost an acre of land. This pr...	4 beds \| 2 baths \| 2,266 sq.ft.	$1,349,000	Airbnb cash on cash: -0.03% Traditional cash on cash: 0.34% Airbnb Rental Income: $3282 Traditional Rental Income: $3007 Airbnb ROI: -0.03% Traditional ROI: 0.34%
54541 Beechwood Avenue Dowagiac, MI NEW LOWER PRICE! Short Term Rental Opportunity/ First Time Home Owner look no further. Wel...	3 beds \| 1 baths \| 912 sq.ft.	$220,000	Airbnb cash on cash: 2.54% Traditional cash on cash: 5.39% Airbnb Rental Income: $1391 Traditional Rental Income: $1565 Airbnb ROI: 2.54% Traditional ROI: 5.39%
107 Sherwood Street Dowagiac, MI Beautiful 2 bed, 1 bath home in Dowagiac! This beauty has been well cared for with tons of...	2 beds \| 1 baths \| 976 sq.ft.	$169,000	Airbnb cash on cash: 3.06% Traditional cash on cash: 5.41% Airbnb Rental Income: $1372 Traditional Rental Income: $1333 Airbnb ROI: 3.06% Traditional ROI: 5.41%
51907 Atwood Road Dowagiac, MI Experience the perfect blend of seclusion and convenience with this stunning 40-acre prope...	2 beds \| 2 baths \| 1,260 sq.ft.	$525,000	Airbnb cash on cash: 0.06% Traditional cash on cash: 2.06% Airbnb Rental Income: $1372 Traditional Rental Income: $1936 Airbnb ROI: 0.06% Traditional ROI: 2.06%
27832 Corwin Street Dowagiac, MI Nestled on nearly an acre of land, this spacious 4-bed/2-bath ranch home offers plenty of ...	4 beds \| 2 baths \| 2,712 sq.ft.	$275,000	Airbnb cash on cash: 7.84% Traditional cash on cash: 8.19% Airbnb Rental Income: $3282 Traditional Rental Income: $2639 Airbnb ROI: 7.84% Traditional ROI: 8.19%

Real Estate investment in Dowagiac, MI

There are 38 properties for sale in the city of Dowagiac . The median list price in Dowagiac is $250,000 and the average price per square foot is $141. In October 2025, the average monthly cash on cash return in Dowagiac is 6.00%. The average monthly rental income in Dowagiac is $2,091.

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

There are 38 investment properties available for sale in Dowagiac.

In 2025, the best neighborhood to buy investment property is Dowagiac.

The ROI for Long-Term is higher than the Short-Term in Dowagiac with average rental income of $2,091.

Your search for investment property begins and ends here

Investment Property for Sale in Dowagiac, MI

28750 Steve Road

Dowagiac, MI

4 beds | N/A baths | 2,256 sq.ft.

$250,000

Airbnb cash on cash: 8.69%

Traditional cash on cash: 10.48%

Airbnb Rental Income: $3282

Traditional Rental Income: $2969

Airbnb ROI: 8.69%

Traditional ROI: 10.48%

322 Oak Street

Dowagiac, MI

3 beds | 1 baths | 1,286 sq.ft.

$140,000

Airbnb cash on cash: 4.24%

Traditional cash on cash: 9.14%

Airbnb Rental Income: $1391

Traditional Rental Income: $1629

Airbnb ROI: 4.24%

Traditional ROI: 9.14%

50002 M 51 N

Dowagiac, MI

4 beds | 1 baths | 1,800 sq.ft.

$359,900

Airbnb cash on cash: 5.79%

Traditional cash on cash: 3.95%

Airbnb Rental Income: $3282

Traditional Rental Income: $1923

Airbnb ROI: 5.79%

Traditional ROI: 3.95%

68448 Beechwood Drive

Dowagiac, MI

4 beds | N/A baths | 4,105 sq.ft.

$2,199,000

Airbnb cash on cash: -0.47%

Traditional cash on cash: 0.22%

Airbnb Rental Income: $3282

Traditional Rental Income: $3959

Airbnb ROI: -0.47%

Traditional ROI: 0.22%

50040 South Street

Dowagiac, MI

2 beds | 1 baths | 903 sq.ft.

$239,900

Airbnb cash on cash: 2.35%

Traditional cash on cash: 2.97%

Airbnb Rental Income: $1372

Traditional Rental Income: $1094

Airbnb ROI: 2.35%

Traditional ROI: 2.97%

307 E Telegraph Street

Dowagiac, MI

2 beds | 1 baths | 887 sq.ft.

$117,900

Airbnb cash on cash: 6.04%

Traditional cash on cash: 7.03%

Airbnb Rental Income: $1372

Traditional Rental Income: $1068

Airbnb ROI: 6.04%

Traditional ROI: 7.03%

58560 Indian Lake Road

Dowagiac, MI

3 beds | 2 baths | 2,721 sq.ft.

$699,000

Airbnb cash on cash: -0.29%

Traditional cash on cash: 2.67%

Airbnb Rental Income: $1391

Traditional Rental Income: $2901

Airbnb ROI: -0.29%

Traditional ROI: 2.67%

66476 Oak Street

Dowagiac, MI

2 beds | N/A baths | N/A

$99,900

Airbnb cash on cash: 5.42%

Traditional cash on cash: 11.19%

Airbnb Rental Income: $1372

Traditional Rental Income: $1514

Airbnb ROI: 5.42%