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
6831 E Harbor Drive Elk Rapids, MI Welcome to Inwood Harbor, a peaceful lake lifestyle community with access to downtown Elk ...	3 beds \| 3 baths \| 1,443 sq.ft.	$549,900	Airbnb cash on cash: 1.77% Traditional cash on cash: 2.67% Airbnb Rental Income: $2323 Traditional Rental Income: $2210 Airbnb ROI: 1.77% Traditional ROI: 2.67%
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.	$397,500	Airbnb cash on cash: 2.67% Traditional cash on cash: 3.28% Airbnb Rental Income: $2323 Traditional Rental Income: $1976 Airbnb ROI: 2.67% Traditional ROI: 3.28%
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: 2.56% Traditional cash on cash: 3.38% Airbnb Rental Income: $1927 Traditional Rental Income: $1684 Airbnb ROI: 2.56% Traditional ROI: 3.38%
517 Spruce Elk Rapids, MI Charming Village of Elk Rapids Home on a Large Corner Lot! This delightful home says âwe...	3 beds \| 1 baths \| 1,644 sq.ft.	$535,000	Airbnb cash on cash: 1.78% Traditional cash on cash: 2.73% Airbnb Rental Income: $2323 Traditional Rental Income: $2221 Airbnb ROI: 1.78% Traditional ROI: 2.73%
806 Livingston Street Elk Rapids, MI Welcome to this desirable ranch-style home located on the west side of the Village of Elk ...	2 beds \| 1 baths \| 759 sq.ft.	$225,000	Airbnb cash on cash: 5% Traditional cash on cash: 3.96% Airbnb Rental Income: $1927 Traditional Rental Income: $1196 Airbnb ROI: 5% Traditional ROI: 3.96%
8779 Swan Point Road Elk Rapids, MI Beautiful park like setting on Bass Lake just outside of Elk Rapids. Easy walk to Shorts, ...	2 beds \| 2 baths \| 1,120 sq.ft.	$569,900	Airbnb cash on cash: 0.99% Traditional cash on cash: 2.1% Airbnb Rental Income: $1927 Traditional Rental Income: $2011 Airbnb ROI: 0.99% Traditional ROI: 2.1%
6869 W Harbor Drive Elk Rapids, MI NO MORE BOAT SLIP FEES! Bring your boat to your own dock. 120 feet of private canal fronta...	5 beds \| 4 baths \| 3,681 sq.ft.	$950,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.6% Airbnb Rental Income: $null Traditional Rental Income: $4653 Airbnb ROI: N/A Traditional ROI: 3.6%
616 SHADYWOOD STREET Elk Rapids, MI Welcome to the Vacation Village of Elk Rapids, Michigan. This 55+ community is situated on...	2 beds \| 1 baths \| 846 sq.ft.	$199,900	Airbnb cash on cash: 5.73% Traditional cash on cash: 5.35% Airbnb Rental Income: $1927 Traditional Rental Income: $1344 Airbnb ROI: 5.73% Traditional ROI: 5.35%

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 $343,500 and the average price per square foot is $225. In June 2026, the average monthly cash on cash return in Elk Rapids is 3.00%. The average monthly rental income in Elk Rapids is $1,874.

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 $1,874.

Your search for investment property begins and ends here

Investment Property for Sale in Elk Rapids, MI

6831 E Harbor Drive

Elk Rapids, MI

3 beds | 3 baths | 1,443 sq.ft.

$549,900

Airbnb cash on cash: 1.77%

Traditional cash on cash: 2.67%

Airbnb Rental Income: $2323

Traditional Rental Income: $2210

Airbnb ROI: 1.77%

Traditional ROI: 2.67%

8144 Cairn Highway

Elk Rapids, MI

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

$397,500

Airbnb cash on cash: 2.67%

Traditional cash on cash: 3.28%

Airbnb Rental Income: $2323

Traditional Rental Income: $1976

Airbnb ROI: 2.67%

Traditional ROI: 3.28%

609 Cedar Street

Elk Rapids, MI

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

$349,000

Airbnb cash on cash: 2.56%

Traditional cash on cash: 3.38%

Airbnb Rental Income: $1927

Traditional Rental Income: $1684

Airbnb ROI: 2.56%

Traditional ROI: 3.38%

517 Spruce

Elk Rapids, MI

3 beds | 1 baths | 1,644 sq.ft.

$535,000

Airbnb cash on cash: 1.78%

Traditional cash on cash: 2.73%

Airbnb Rental Income: $2323

Traditional Rental Income: $2221

Airbnb ROI: 1.78%

Traditional ROI: 2.73%

806 Livingston Street

Elk Rapids, MI

2 beds | 1 baths | 759 sq.ft.

$225,000

Airbnb cash on cash: 5%

Traditional cash on cash: 3.96%

Airbnb Rental Income: $1927

Traditional Rental Income: $1196

Airbnb ROI: 5%

Traditional ROI: 3.96%

8779 Swan Point Road

Elk Rapids, MI

2 beds | 2 baths | 1,120 sq.ft.

$569,900

Airbnb cash on cash: 0.99%

Traditional cash on cash: 2.1%

Airbnb Rental Income: $1927

Traditional Rental Income: $2011

Airbnb ROI: 0.99%

Traditional ROI: 2.1%

6869 W Harbor Drive

Elk Rapids, MI

5 beds | 4 baths | 3,681 sq.ft.

$950,000

Airbnb cash on cash: N/A

Traditional cash on cash: 3.6%

Airbnb Rental Income: $null

Traditional Rental Income: $4653

Airbnb ROI: N/A

Traditional ROI: 3.6%

616 SHADYWOOD STREET

Elk Rapids, MI

2 beds | 1 baths | 846 sq.ft.

$199,900

Airbnb cash on cash: 5.73%

Traditional cash on cash: 5.35%

Airbnb Rental Income: $1927

Traditional Rental Income: $1344

Airbnb ROI: 5.73%