Real Estate Investment Properties for Sale in Houghton Lake, MI

Looking for investment property in Houghton Lake, MI with high ROI ?

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
101 Grayling Avenue Houghton Lake, MI Turnkey, this 3-bedroom, 1.5-bathroom home in Houghton Lake Heights is located just a few ...	3 beds \| 2 baths \| 1,721 sq.ft.	$269,900	Airbnb cash on cash: 1.54% Traditional cash on cash: 7.74% Airbnb Rental Income: $1289 Traditional Rental Income: $2462 Airbnb ROI: 1.54% Traditional ROI: 7.74%
707 Shoreline Houghton Lake, MI Just 200 feet from the sparkling waters of Houghton Lake, this turnkey two-cabin property ...	4 beds \| 2 baths \| 950 sq.ft.	$259,000	Airbnb cash on cash: 2.43% Traditional cash on cash: 7.01% Airbnb Rental Income: $1505 Traditional Rental Income: $2185 Airbnb ROI: 2.43% Traditional ROI: 7.01%
142 Winding Drive Houghton Lake, MI It doesn't get any better than this. It has it all. Living room, Kitchen Dining area. Thre...	4 beds \| 2 baths \| 1,204 sq.ft.	$269,900	Airbnb cash on cash: 2.26% Traditional cash on cash: 5.93% Airbnb Rental Income: $1505 Traditional Rental Income: $1999 Airbnb ROI: 2.26% Traditional ROI: 5.93%
11789 W Shore Drive Houghton Lake, MI Welcome to your perfect lake-area retreat! This well-maintained 3-bedroom, 2-bath home is ...	3 beds \| 2 baths \| 1,400 sq.ft.	$199,900	Airbnb cash on cash: 1.66% Traditional cash on cash: 8.87% Airbnb Rental Income: $1289 Traditional Rental Income: $2253 Airbnb ROI: 1.66% Traditional ROI: 8.87%
12739 E Houghton Lake Drive Houghton Lake, MI Lakefront with Spectacular sunset & sunrise Views! 5 bedrooms 3 full baths with 95 feet of...	5 beds \| 3 baths \| 2,074 sq.ft.	$799,000	Airbnb cash on cash: 0.97% Traditional cash on cash: 2.97% Airbnb Rental Income: $2344 Traditional Rental Income: $3257 Airbnb ROI: 0.97% Traditional ROI: 2.97%
210 Whitebirch Houghton Lake, MI Beautifully maintained 3-bedroom, 2-bath home in desirable South Houghton Lake Forest Esta...	3 beds \| 2 baths \| 2,300 sq.ft.	$284,900	Airbnb cash on cash: 1.76% Traditional cash on cash: 8.75% Airbnb Rental Income: $1289 Traditional Rental Income: $2760 Airbnb ROI: 1.76% Traditional ROI: 8.75%
13508 W Shore Drive Houghton Lake, MI Charming Cottage Looking for a year-round residence, or the perfect weekend escape? This d...	1 beds \| 1 baths \| 1,250 sq.ft.	$219,900	Airbnb cash on cash: -0.98% Traditional cash on cash: 6.55% Airbnb Rental Income: $571 Traditional Rental Income: $1855 Airbnb ROI: -0.98% Traditional ROI: 6.55%
125 Whitebirch Drive Houghton Lake, MI With almost 1800sq ft of living space, this 3-bedroom and 2 bath ranch is in Houghton Lake...	3 beds \| 2 baths \| 1,766 sq.ft.	$234,900	Airbnb cash on cash: 1.05% Traditional cash on cash: 8.13% Airbnb Rental Income: $1289 Traditional Rental Income: $2458 Airbnb ROI: 1.05% Traditional ROI: 8.13%
206 Silverhill Drive Houghton Lake, MI Escape to tranquility at Houghton Lake, where rustic charm meets recreational bliss. This ...	3 beds \| 1 baths \| 1,020 sq.ft.	$169,900	Airbnb cash on cash: 2.72% Traditional cash on cash: 7.37% Airbnb Rental Income: $1289 Traditional Rental Income: $1639 Airbnb ROI: 2.72% Traditional ROI: 7.37%
108 Eastbrook Avenue Houghton Lake, MI Welcome to your private escape on Houghton Lake! This beautifully maintained 3-bedroom, 2-...	3 beds \| 2 baths \| 1,260 sq.ft.	$499,900	Airbnb cash on cash: -0.03% Traditional cash on cash: 3.06% Airbnb Rental Income: $1289 Traditional Rental Income: $2332 Airbnb ROI: -0.03% Traditional ROI: 3.06%
2385 W Houghton Lake Drive Houghton Lake, MI Discover your perfect retreat. This spacious home boasts 2423 sq ft of comfortable living ...	4 beds \| 3 baths \| 2,423 sq.ft.	$365,000	Airbnb cash on cash: 0.31% Traditional cash on cash: 4.15% Airbnb Rental Income: $1505 Traditional Rental Income: $2380 Airbnb ROI: 0.31% Traditional ROI: 4.15%
124 Snowflake Way Houghton Lake, MI Charming and well-maintained home in a quiet Houghton Lake subdivision, just minutes from ...	3 beds \| 1 baths \| 900 sq.ft.	$165,000	Airbnb cash on cash: 3.32% Traditional cash on cash: 8.02% Airbnb Rental Income: $1289 Traditional Rental Income: $1625 Airbnb ROI: 3.32% Traditional ROI: 8.02%
11366 W Shore Drive Houghton Lake, MI CANAL HOME with 64' of water frontage...This newly built 3-bedroom, 2-bath home offers mod...	3 beds \| 2 baths \| 960 sq.ft.	$399,000	Airbnb cash on cash: 0.82% Traditional cash on cash: 1.53% Airbnb Rental Income: $1289 Traditional Rental Income: $1151 Airbnb ROI: 0.82% Traditional ROI: 1.53%
213 Bayshore Drive Houghton Lake, MI Beautifully renovated and fully furnished Houghton Lakefront home offering a turnkey exper...	3 beds \| 2 baths \| 1,780 sq.ft.	$895,000	Airbnb cash on cash: -0.56% Traditional cash on cash: 0.58% Airbnb Rental Income: $1289 Traditional Rental Income: $1835 Airbnb ROI: -0.56% Traditional ROI: 0.58%
5167 E Houghton Lake Drive Houghton Lake, MI Welcome to 5167 E. Houghton Lake Drive, Approx. 1930 Sq. Ft. Ranch style home. 3 Bedrooms ...	3 beds \| 3 baths \| 1,930 sq.ft.	$248,000	Airbnb cash on cash: 0.89% Traditional cash on cash: 10.82% Airbnb Rental Income: $1289 Traditional Rental Income: $3211 Airbnb ROI: 0.89% Traditional ROI: 10.82%
1604 E Houghton Lake Drive Houghton Lake, MI Looking for an affordable way to enjoy lake life? This charming and beautifully updated 1-...	1 beds \| 1 baths \| 475 sq.ft.	$109,900	Airbnb cash on cash: 0.15% Traditional cash on cash: 10.03% Airbnb Rental Income: $571 Traditional Rental Income: $1338 Airbnb ROI: 0.15% Traditional ROI: 10.03%
6366 W Houghton Lake Drive #5 Houghton Lake, MI Nestled on the picturesque west shore of Houghton Lake, the cottage offers a retreat with ...	1 beds \| 1 baths \| 420 sq.ft.	$174,900	Airbnb cash on cash: -1.9% Traditional cash on cash: 3.03% Airbnb Rental Income: $571 Traditional Rental Income: $1109 Airbnb ROI: -1.9% Traditional ROI: 3.03%
1504 Houghton View Drive Houghton Lake, MI This comfortable cottage, holds an updated bathroom, 2 large bedrooms and a breezeway area...	2 beds \| 1 baths \| 1,214 sq.ft.	$379,900	Airbnb cash on cash: -0.91% Traditional cash on cash: 3.72% Airbnb Rental Income: $739 Traditional Rental Income: $2074 Airbnb ROI: -0.91% Traditional ROI: 3.72%
7697 E Houghton Lake Drive Houghton Lake, MI PRIVATE ACCESS TO HOUGHTON LAKE! Rare 3BR detached condo w/boat dock and hoist on Houghton...	3 beds \| 1 baths \| 1,344 sq.ft.	$249,900	Airbnb cash on cash: 1.47% Traditional cash on cash: 3.85% Airbnb Rental Income: $1289 Traditional Rental Income: $1447 Airbnb ROI: 1.47% Traditional ROI: 3.85%
7571 E Houghton Lake Drive Houghton Lake, MI 150' LAKEFRONT ON THE NORTH SHORE! Enjoy this freshly remodeled cottage on Houghton Lake's...	3 beds \| 1 baths \| 900 sq.ft.	$249,900	Airbnb cash on cash: 1.21% Traditional cash on cash: 4.13% Airbnb Rental Income: $1289 Traditional Rental Income: $1575 Airbnb ROI: 1.21% Traditional ROI: 4.13%
8110 Perry Road Houghton Lake, MI Welcome to Hidden Meadows Farm. Situated on almost 17 acres of gently rolling landscape, t...	3 beds \| 1 baths \| 1,374 sq.ft.	$339,900	Airbnb cash on cash: 1.13% Traditional cash on cash: 4.44% Airbnb Rental Income: $1289 Traditional Rental Income: $1941 Airbnb ROI: 1.13% Traditional ROI: 4.44%
206 Joliet Avenue Houghton Lake, MI This 1520 square foot 3 bedroom, 2 bath home was recently converted from an existing garag...	3 beds \| 2 baths \| 1,520 sq.ft.	$249,900	Airbnb cash on cash: 0.84% Traditional cash on cash: 7.98% Airbnb Rental Income: $1289 Traditional Rental Income: $2572 Airbnb ROI: 0.84% Traditional ROI: 7.98%
3974 W Houghton Lake Drive #7 Houghton Lake, MI Well maintained cabin just steps away from the shared beachfront on beautiful Houghton Lak...	2 beds \| 1 baths \| 480 sq.ft.	$134,900	Airbnb cash on cash: 0.04% Traditional cash on cash: 8.28% Airbnb Rental Income: $739 Traditional Rental Income: $1494 Airbnb ROI: 0.04% Traditional ROI: 8.28%
202 Forestville Road Houghton Lake, MI Welcome to A Peaceful Houghton Lake Retreat! Set on two beautifully wooded lots in the des...	3 beds \| 2 baths \| 1,600 sq.ft.	$258,500	Airbnb cash on cash: 1.29% Traditional cash on cash: 7.47% Airbnb Rental Income: $1289 Traditional Rental Income: $2393 Airbnb ROI: 1.29% Traditional ROI: 7.47%
3974 W Houghton Lake Drive Houghton Lake, MI Well-maintained cabin just steps away from the shared beachfront on beautiful Houghton Lak...	2 beds \| 1 baths \| 480 sq.ft.	$134,900	Airbnb cash on cash: -1.34% Traditional cash on cash: 11.46% Airbnb Rental Income: $739 Traditional Rental Income: $2086 Airbnb ROI: -1.34% Traditional ROI: 11.46%
117 Vienna Court Houghton Lake, MI Welcome home to this beautifully updated 3 bedroom, 2.5 bath property offering space, comf...	3 beds \| 3 baths \| 1,728 sq.ft.	$329,900	Airbnb cash on cash: 1.16% Traditional cash on cash: 6.69% Airbnb Rental Income: $1289 Traditional Rental Income: $2601 Airbnb ROI: 1.16% Traditional ROI: 6.69%
119 Wilson Avenue Houghton Lake, MI Opportunities like this don't come along often--50 feet of beautiful frontage on Houghton ...	2 beds \| 1 baths \| 800 sq.ft.	$369,000	Airbnb cash on cash: -1.56% Traditional cash on cash: 1.79% Airbnb Rental Income: $739 Traditional Rental Income: $1586 Airbnb ROI: -1.56% Traditional ROI: 1.79%
2980 E Houghton Lake Drive Houghton Lake, MI Charming 3-bedroom, 1-bath home situated on 2.5 acres just a stone's throw from beautiful ...	3 beds \| 2 baths \| 1,128 sq.ft.	$219,900	Airbnb cash on cash: 1.29% Traditional cash on cash: 5.82% Airbnb Rental Income: $1289 Traditional Rental Income: $1828 Airbnb ROI: 1.29% Traditional ROI: 5.82%
113 Wells Street Houghton Lake, MI Remodeled and move-in ready home just steps from Houghton Lake! This charming property off...	3 beds \| 2 baths \| 1,212 sq.ft.	$266,000	Airbnb cash on cash: 1.81% Traditional cash on cash: 7.26% Airbnb Rental Income: $1289 Traditional Rental Income: $2252 Airbnb ROI: 1.81% Traditional ROI: 7.26%
123 Sandpiper Avenue Houghton Lake, MI Charming Updated Home Near Houghton Lake. Welcome to this beautifully updated 2-bedroom, 1...	2 beds \| 2 baths \| 668 sq.ft.	$144,900	Airbnb cash on cash: 1.11% Traditional cash on cash: 10% Airbnb Rental Income: $739 Traditional Rental Income: $1661 Airbnb ROI: 1.11% Traditional ROI: 10%
1155 Goldenrod Drive Houghton Lake, MI Large family home featuring 5 bdrms, 2 baths on three spacious wooded lots. Back of lots i...	5 beds \| 2 baths \| 2,115 sq.ft.	$215,000	Airbnb cash on cash: 6.58% Traditional cash on cash: 10.86% Airbnb Rental Income: $2344 Traditional Rental Income: $2638 Airbnb ROI: 6.58% Traditional ROI: 10.86%
5257/5259 W Houghton Lake Drive Houghton Lake, MI Rebuilt and beautifully renovated, this home offers stunning lake views of the South Shore...	5 beds \| 5 baths \| 2,680 sq.ft.	$550,000	Airbnb cash on cash: 0.72% Traditional cash on cash: 2.05% Airbnb Rental Income: $2344 Traditional Rental Income: $2448 Airbnb ROI: 0.72% Traditional ROI: 2.05%
2229 S Loxley Road Houghton Lake, MI Tucked away on 2 acres along a shared private drive, this beautifully custom-built home ov...	3 beds \| 3 baths \| 3,800 sq.ft.	$595,000	Airbnb cash on cash: -1.1% Traditional cash on cash: 2.59% Airbnb Rental Income: $1289 Traditional Rental Income: $2936 Airbnb ROI: -1.1% Traditional ROI: 2.59%
673 Goldenrod Drive Houghton Lake, MI Turn-key and ready for you! This beautifully maintained 2 bedroom, 2 bath home offers an i...	2 beds \| 2 baths \| 940 sq.ft.	$129,900	Airbnb cash on cash: 0.49% Traditional cash on cash: 10.97% Airbnb Rental Income: $739 Traditional Rental Income: $1736 Airbnb ROI: 0.49% Traditional ROI: 10.97%
304 Oliver Street Houghton Lake, MI This large year-round home offers space, character, and a great location just three short ...	3 beds \| 2 baths \| 1,676 sq.ft.	$168,000	Airbnb cash on cash: 2.43% Traditional cash on cash: 11.89% Airbnb Rental Income: $1289 Traditional Rental Income: $2400 Airbnb ROI: 2.43% Traditional ROI: 11.89%
3974 W HOUGHTON LAKE DRIVE UNIT #7 Houghton Lake, MI Well maintained cabin just steps away from the shared beachfront on beautiful Houghton Lak...	2 beds \| 1 baths \| 480 sq.ft.	$134,900	Airbnb cash on cash: 0.07% Traditional cash on cash: 6.14% Airbnb Rental Income: $739 Traditional Rental Income: $1213 Airbnb ROI: 0.07% Traditional ROI: 6.14%
115 Miami Drive Houghton Lake, MI New canal-front listing on Houghton Lake offering 120 ft of frontage! Beautiful views from...	3 beds \| 2 baths \| 2,140 sq.ft.	$525,000	Airbnb cash on cash: -0.91% Traditional cash on cash: 2.78% Airbnb Rental Income: $1289 Traditional Rental Income: $2696 Airbnb ROI: -0.91% Traditional ROI: 2.78%
102 Dockside Drive Houghton Lake, MI 117 ft on the canal of Houghton Lake in a highly sought-after neighborhood! This 3 bedroom...	3 beds \| 2 baths \| 1,400 sq.ft.	$449,900	Airbnb cash on cash: 0.24% Traditional cash on cash: 3.77% Airbnb Rental Income: $1289 Traditional Rental Income: $2371 Airbnb ROI: 0.24% Traditional ROI: 3.77%
5783 W Houghton Lake Drive Houghton Lake, MI Super unique property offering the perfect blend of luxury, fun, and functionality! This o...	3 beds \| 4 baths \| 4,850 sq.ft.	$1,199,000	Airbnb cash on cash: -1.82% Traditional cash on cash: 0.86% Airbnb Rental Income: $1289 Traditional Rental Income: $3872 Airbnb ROI: -1.82% Traditional ROI: 0.86%
13080 W Shore Drive #4B Houghton Lake, MI Welcome to your perfect waterfront retreat on the highly sought-after west side of Houghto...	2 beds \| 2 baths \| 1,386 sq.ft.	$329,900	Airbnb cash on cash: -1.41% Traditional cash on cash: 4.66% Airbnb Rental Income: $739 Traditional Rental Income: $2308 Airbnb ROI: -1.41% Traditional ROI: 4.66%

Real Estate investment in Houghton-lake, MI

There are 74 properties for sale in the city of Houghton Lake . The median list price in Houghton Lake is $209,892 and the average price per square foot is $144. In June 2026, the average monthly cash on cash return in Houghton Lake is 7.00%. The average monthly rental income in Houghton Lake is $2,037.

Houghton-lake, MI Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 74 investment properties available for sale in Houghton-lake.

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

The ROI for Long-Term is higher than the Short-Term in Houghton-lake with average rental income of $2,037.

Your search for investment property begins and ends here

Investment Property for Sale in Houghton Lake, MI

101 Grayling Avenue

Houghton Lake, MI

3 beds | 2 baths | 1,721 sq.ft.

$269,900

Airbnb cash on cash: 1.54%

Traditional cash on cash: 7.74%

Airbnb Rental Income: $1289

Traditional Rental Income: $2462

Airbnb ROI: 1.54%

Traditional ROI: 7.74%

707 Shoreline

Houghton Lake, MI

4 beds | 2 baths | 950 sq.ft.

$259,000

Airbnb cash on cash: 2.43%

Traditional cash on cash: 7.01%

Airbnb Rental Income: $1505

Traditional Rental Income: $2185

Airbnb ROI: 2.43%

Traditional ROI: 7.01%

142 Winding Drive

Houghton Lake, MI

4 beds | 2 baths | 1,204 sq.ft.

$269,900

Airbnb cash on cash: 2.26%

Traditional cash on cash: 5.93%

Airbnb Rental Income: $1505

Traditional Rental Income: $1999

Airbnb ROI: 2.26%

Traditional ROI: 5.93%

11789 W Shore Drive

Houghton Lake, MI

3 beds | 2 baths | 1,400 sq.ft.

$199,900

Airbnb cash on cash: 1.66%

Traditional cash on cash: 8.87%

Airbnb Rental Income: $1289

Traditional Rental Income: $2253

Airbnb ROI: 1.66%

Traditional ROI: 8.87%

12739 E Houghton Lake Drive

Houghton Lake, MI

5 beds | 3 baths | 2,074 sq.ft.

$799,000

Airbnb cash on cash: 0.97%

Traditional cash on cash: 2.97%

Airbnb Rental Income: $2344

Traditional Rental Income: $3257

Airbnb ROI: 0.97%

Traditional ROI: 2.97%

210 Whitebirch

Houghton Lake, MI

3 beds | 2 baths | 2,300 sq.ft.

$284,900

Airbnb cash on cash: 1.76%

Traditional cash on cash: 8.75%

Airbnb Rental Income: $1289

Traditional Rental Income: $2760

Airbnb ROI: 1.76%

Traditional ROI: 8.75%

13508 W Shore Drive

Houghton Lake, MI

1 beds | 1 baths | 1,250 sq.ft.

$219,900

Airbnb cash on cash: -0.98%

Traditional cash on cash: 6.55%

Airbnb Rental Income: $571

Traditional Rental Income: $1855

Airbnb ROI: -0.98%

Traditional ROI: 6.55%

125 Whitebirch Drive

Houghton Lake, MI

3 beds | 2 baths | 1,766 sq.ft.

$234,900

Airbnb cash on cash: 1.05%

Traditional cash on cash: 8.13%

Airbnb Rental Income: $1289

Traditional Rental Income: $2458

Airbnb ROI: 1.05%