Real Estate Investment Properties for Sale in Elk Rapids, MI

Looking for investment property in Elk Rapids, MI with high ROI ?

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
137 Center Street Elk Rapids, MI If you know Elk Rapids, you know why people fight to get in. This little village on the ba...	3 beds \| 2 baths \| 1,536 sq.ft.	$399,000	Airbnb cash on cash: 1.93% Traditional cash on cash: 4.66% Airbnb Rental Income: $1884 Traditional Rental Income: $2401 Airbnb ROI: 1.93% Traditional ROI: 4.66%
14088 BLUFF ROAD Elk Rapids, MI Discover an exceptional waterfront property on Old Mission Peninsula, boasting over 202' o...	5 beds \| 4 baths \| 3,001 sq.ft.	$2,750,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.09% Airbnb Rental Income: $null Traditional Rental Income: $4495 Airbnb ROI: N/A Traditional ROI: 0.09%
8144 Cairn Highway Elk Rapids, MI Elk Rapids ranch home with 3 bedrooms, 1720 finished sq ft, oversized 2 car garage, full b...	3 beds \| 1 baths \| 1,720 sq.ft.	$492,500	Airbnb cash on cash: 1.18% Traditional cash on cash: 2.47% Airbnb Rental Income: $1884 Traditional Rental Income: $1976 Airbnb ROI: 1.18% Traditional ROI: 2.47%
2721 NELSON ROAD Elk Rapids, MI Old Mission Peninsulas Most Photographed Home - Iconic Green Design by William McDonough. ...	5 beds \| 6 baths \| 3,665 sq.ft.	$4,199,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.07% Airbnb Rental Income: $null Traditional Rental Income: $6510 Airbnb ROI: N/A Traditional ROI: 0.07%
609 Cedar Street Elk Rapids, MI Great location in Elk Rapids westside. Easy walk to the beach, Elk Rapids Harbor and the M...	2 beds \| 2 baths \| 1,004 sq.ft.	$349,000	Airbnb cash on cash: 1.04% Traditional cash on cash: 3.38% Airbnb Rental Income: $1329 Traditional Rental Income: $1684 Airbnb ROI: 1.04% Traditional ROI: 3.38%
3939 BLUE HEIGHTS DRIVE Elk Rapids, MI Old Mission Stunner! With expansive East Grand Traverse Bay views and shared beachfront th...	3 beds \| 3 baths \| 1,354 sq.ft.	$1,299,900	Airbnb cash on cash: -0.28% Traditional cash on cash: 0.63% Airbnb Rental Income: $1884 Traditional Rental Income: $2476 Airbnb ROI: -0.28% Traditional ROI: 0.63%
503 Cedar Street Elk Rapids, MI Elk Rapids 3-bedroom/1.5-bath ranch home offering main-floor living is a wonderful opportu...	3 beds \| 2 baths \| 1,211 sq.ft.	$265,000	Airbnb cash on cash: 3.74% Traditional cash on cash: 6.02% Airbnb Rental Income: $1884 Traditional Rental Income: $1950 Airbnb ROI: 3.74% Traditional ROI: 6.02%
110 AMES STREET 13 Elk Rapids, MI Fabulous Elk River waterfront condo living with beautifully appointed first floor unit loc...	3 beds \| 3 baths \| 2,466 sq.ft.	$1,250,000	Airbnb cash on cash: -2.14% Traditional cash on cash: -0.66% Airbnb Rental Income: $1884 Traditional Rental Income: $3102 Airbnb ROI: -2.14% Traditional ROI: -0.66%

Real Estate investment in Elk-rapids, MI

There are 8 properties for sale in the city of Elk Rapids . The median list price in Elk Rapids is $250,000 and the average price per square foot is $277. In March 2026, the average monthly cash on cash return in Elk Rapids is 2.00%. The average monthly rental income in Elk Rapids is $1,747.

Elk-rapids, MI Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 8 investment properties available for sale in Elk-rapids.

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

The ROI for Long-Term is higher than the Short-Term in Elk-rapids with average rental income of $1,747.

Your search for investment property begins and ends here

Investment Property for Sale in Elk Rapids, MI

137 Center Street

Elk Rapids, MI

3 beds | 2 baths | 1,536 sq.ft.

$399,000

Airbnb cash on cash: 1.93%

Traditional cash on cash: 4.66%

Airbnb Rental Income: $1884

Traditional Rental Income: $2401

Airbnb ROI: 1.93%

Traditional ROI: 4.66%

14088 BLUFF ROAD

Elk Rapids, MI

5 beds | 4 baths | 3,001 sq.ft.

$2,750,000

Airbnb cash on cash: N/A

Traditional cash on cash: 0.09%

Airbnb Rental Income: $null

Traditional Rental Income: $4495

Airbnb ROI: N/A

Traditional ROI: 0.09%

8144 Cairn Highway

Elk Rapids, MI

3 beds | 1 baths | 1,720 sq.ft.

$492,500

Airbnb cash on cash: 1.18%

Traditional cash on cash: 2.47%

Airbnb Rental Income: $1884

Traditional Rental Income: $1976

Airbnb ROI: 1.18%

Traditional ROI: 2.47%

2721 NELSON ROAD

Elk Rapids, MI

5 beds | 6 baths | 3,665 sq.ft.

$4,199,000

Airbnb cash on cash: N/A

Traditional cash on cash: 0.07%

Airbnb Rental Income: $null

Traditional Rental Income: $6510

Airbnb ROI: N/A

Traditional ROI: 0.07%

609 Cedar Street

Elk Rapids, MI

2 beds | 2 baths | 1,004 sq.ft.

$349,000

Airbnb cash on cash: 1.04%

Traditional cash on cash: 3.38%

Airbnb Rental Income: $1329

Traditional Rental Income: $1684

Airbnb ROI: 1.04%

Traditional ROI: 3.38%

3939 BLUE HEIGHTS DRIVE

Elk Rapids, MI

3 beds | 3 baths | 1,354 sq.ft.

$1,299,900

Airbnb cash on cash: -0.28%

Traditional cash on cash: 0.63%

Airbnb Rental Income: $1884

Traditional Rental Income: $2476

Airbnb ROI: -0.28%

Traditional ROI: 0.63%

503 Cedar Street

Elk Rapids, MI

3 beds | 2 baths | 1,211 sq.ft.

$265,000

Airbnb cash on cash: 3.74%

Traditional cash on cash: 6.02%

Airbnb Rental Income: $1884

Traditional Rental Income: $1950

Airbnb ROI: 3.74%

Traditional ROI: 6.02%

110 AMES STREET 13

Elk Rapids, MI

3 beds | 3 baths | 2,466 sq.ft.

$1,250,000

Airbnb cash on cash: -2.14%

Traditional cash on cash: -0.66%

Airbnb Rental Income: $1884

Traditional Rental Income: $3102

Airbnb ROI: -2.14%