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
213 Barcome Avenue Houghton Lake, MI Spacious 3 bedroom, 2 bath, 1456 sq ft home on a double lot that adjoins and backs up to w...	3 beds \| 2 baths \| 1,456 sq.ft.	$175,000	Airbnb cash on cash: 3.76% Traditional cash on cash: 11.5% Airbnb Rental Income: $1480 Traditional Rental Income: $2335 Airbnb ROI: 3.76% Traditional ROI: 11.5%
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.	$699,000	Airbnb cash on cash: 1.69% Traditional cash on cash: 3.53% Airbnb Rental Income: $2693 Traditional Rental Income: $3257 Airbnb ROI: 1.69% Traditional ROI: 3.53%
6276 W Houghton Lake Drive Houghton Lake, MI Shared lakefront on Houghton Lake and a dock for your boat make this inviting cottage a pl...	2 beds \| 1 baths \| 653 sq.ft.	$200,000	Airbnb cash on cash: 1.49% Traditional cash on cash: 5.73% Airbnb Rental Income: $1084 Traditional Rental Income: $1519 Airbnb ROI: 1.49% Traditional ROI: 5.73%
112 Fisherman Lane Houghton Lake, MI Welcome to Fisherman's Paradise on Houghton Lake! Conveniently located in the heart of tow...	3 beds \| 1 baths \| 1,254 sq.ft.	$169,000	Airbnb cash on cash: 4.35% Traditional cash on cash: 10.96% Airbnb Rental Income: $1480 Traditional Rental Income: $2109 Airbnb ROI: 4.35% Traditional ROI: 10.96%
1210 Long Point Houghton Lake, MI Discover waterfront living at its finest in this beautifully maintained 4-bedroom, 2.5-bat...	4 beds \| 3 baths \| 1,800 sq.ft.	$549,900	Airbnb cash on cash: 1.18% Traditional cash on cash: 3.71% Airbnb Rental Income: $2273 Traditional Rental Income: $3004 Airbnb ROI: 1.18% Traditional ROI: 3.71%
10205 W Lake City Road Houghton Lake, MI Charming 3-bedroom 1-bath home situated on approximately 1.63 acres just minutes from town...	3 beds \| 1 baths \| 1,170 sq.ft.	$149,900	Airbnb cash on cash: 5.27% Traditional cash on cash: 10.38% Airbnb Rental Income: $1480 Traditional Rental Income: $1777 Airbnb ROI: 5.27% Traditional ROI: 10.38%
3540 S Harrison Road Houghton Lake, MI Your lucky day buyer financing fell through Hunters paradise awaits you Tucked away on 5 b...	3 beds \| 2 baths \| 1,404 sq.ft.	$299,900	Airbnb cash on cash: 1.51% Traditional cash on cash: 5.38% Airbnb Rental Income: $1480 Traditional Rental Income: $2138 Airbnb ROI: 1.51% Traditional ROI: 5.38%
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: 2.18% Traditional cash on cash: 4.15% Airbnb Rental Income: $2273 Traditional Rental Income: $2380 Airbnb ROI: 2.18% Traditional ROI: 4.15%
140 Oneida Drive Houghton Lake, MI Welcome to your perfect Up North escape. This charming 2-bedroom, 1-bath home offers the i...	2 beds \| 1 baths \| 864 sq.ft.	$164,900	Airbnb cash on cash: 2.09% Traditional cash on cash: 3.97% Airbnb Rental Income: $1084 Traditional Rental Income: $1010 Airbnb ROI: 2.09% Traditional ROI: 3.97%
5400 W Houghton Lake Drive Houghton Lake, MI Completely remodeled 2,800 sq. ft. Houghton Lake lakefront home offering 80 feet of fronta...	4 beds \| 3 baths \| 2,860 sq.ft.	$899,000	Airbnb cash on cash: 0.31% Traditional cash on cash: 1.27% Airbnb Rental Income: $2273 Traditional Rental Income: $2507 Airbnb ROI: 0.31% Traditional ROI: 1.27%
217 Weaver Drive Houghton Lake, MI Large Corner Lot, Large Rooms, Generous Galley Kitchen. Living, dining and kitchen open fl...	3 beds \| 2 baths \| 2,137 sq.ft.	$249,900	Airbnb cash on cash: 2.03% Traditional cash on cash: 8.86% Airbnb Rental Income: $1480 Traditional Rental Income: $2657 Airbnb ROI: 2.03% Traditional ROI: 8.86%
100 Mary Road Houghton Lake, MI This charming 2-bedroom cottage offers 850 sq ft of classic Up North character, with warm ...	2 beds \| 1 baths \| 851 sq.ft.	$150,000	Airbnb cash on cash: 2.83% Traditional cash on cash: 4.89% Airbnb Rental Income: $1084 Traditional Rental Income: $1010 Airbnb ROI: 2.83% Traditional ROI: 4.89%
6891 E Houghton Lake Drive #8 Houghton Lake, MI 2026 COMPLETLY RENOVATED! This property offers 110 feet of shared PRIVATE WATERFRONT AND D...	2 beds \| 1 baths \| 560 sq.ft.	$179,900	Airbnb cash on cash: 1.43% Traditional cash on cash: 5.46% Airbnb Rental Income: $1084 Traditional Rental Income: $1405 Airbnb ROI: 1.43% Traditional ROI: 5.46%
7365 W Nestel Road Houghton Lake, MI Huge Price Reduction! Enjoy life mins from Houghton Lake in this inviting Chalet nestled o...	2 beds \| 1 baths \| 960 sq.ft.	$209,000	Airbnb cash on cash: 0.99% Traditional cash on cash: 4.81% Airbnb Rental Income: $1084 Traditional Rental Income: $1471 Airbnb ROI: 0.99% Traditional ROI: 4.81%
6366 W Houghton Lake Drive #1 Houghton Lake, MI This 2 bedroom, 1 bath ranch condo on Houghton Lake is ready for lake days. It has water v...	2 beds \| 1 baths \| 540 sq.ft.	$189,900	Airbnb cash on cash: 0.95% Traditional cash on cash: 2.27% Airbnb Rental Income: $1084 Traditional Rental Income: $953 Airbnb ROI: 0.95% Traditional ROI: 2.27%
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.	$380,000	Airbnb cash on cash: 1.35% Traditional cash on cash: 1.65% Airbnb Rental Income: $1480 Traditional Rental Income: $1151 Airbnb ROI: 1.35% Traditional ROI: 1.65%
5287 W Houghton Lake Drive Houghton Lake, MI Looking for space and flexibility near the lake? This 3 bedroom, 1.5 bath home sits on ove...	3 beds \| 2 baths \| 1,904 sq.ft.	$270,000	Airbnb cash on cash: 2% Traditional cash on cash: 9.23% Airbnb Rental Income: $1480 Traditional Rental Income: $2886 Airbnb ROI: 2% Traditional ROI: 9.23%
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.	$850,000	Airbnb cash on cash: -0.34% Traditional cash on cash: 0.66% Airbnb Rental Income: $1480 Traditional Rental Income: $1835 Airbnb ROI: -0.34% Traditional ROI: 0.66%
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: 1.57% Traditional cash on cash: 10.82% Airbnb Rental Income: $1480 Traditional Rental Income: $3211 Airbnb ROI: 1.57% Traditional ROI: 10.82%
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: -1.09% Traditional cash on cash: 3.04% Airbnb Rental Income: $733 Traditional Rental Income: $1109 Airbnb ROI: -1.09% Traditional ROI: 3.04%
228 Mallard Avenue Houghton Lake, MI Lake front living at your front door! This 2 bedroom 1 and 1/2 bath home is waiting for fi...	2 beds \| 2 baths \| 1,462 sq.ft.	$353,000	Airbnb cash on cash: -0.42% Traditional cash on cash: 4.04% Airbnb Rental Income: $1084 Traditional Rental Income: $2194 Airbnb ROI: -0.42% Traditional ROI: 4.04%
110 Guernsey Avenue Houghton Lake, MI Picturesque Completely Renovated Cape Cod with Houghton Lake Views, Guest Cottage & Garage...	5 beds \| 3 baths \| 2,140 sq.ft.	$400,000	Airbnb cash on cash: 3.04% Traditional cash on cash: 3.59% Airbnb Rental Income: $2693 Traditional Rental Income: $2261 Airbnb ROI: 3.04% Traditional ROI: 3.59%
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.	$239,900	Airbnb cash on cash: 1.82% Traditional cash on cash: 3.6% Airbnb Rental Income: $1480 Traditional Rental Income: $1447 Airbnb ROI: 1.82% Traditional ROI: 3.6%
2740 S Loxley Road Houghton Lake, MI This incredible property offers 135 acres with hunting blinds, trails, ponds, a greenhouse...	3 beds \| 3 baths \| 2,300 sq.ft.	$1,500,000	Airbnb cash on cash: -0.72% Traditional cash on cash: 1.24% Airbnb Rental Income: $1480 Traditional Rental Income: $3772 Airbnb ROI: -0.72% Traditional ROI: 1.24%
410 Terrace Drive Houghton Lake, MI Looking to live right around the corner from Houghton Lake, this home is located in a reso...	3 beds \| 1 baths \| 1,670 sq.ft.	$249,000	Airbnb cash on cash: 2.92% Traditional cash on cash: 7.07% Airbnb Rental Income: $1480 Traditional Rental Income: $2019 Airbnb ROI: 2.92% Traditional ROI: 7.07%
6344 W Houghton Lake Drive #6 Houghton Lake, MI Beautifully remodeled, turnkey studio condo in the desirable Snuggle Inn Condo Association...	1 beds \| 1 baths \| 288 sq.ft.	$102,000	Airbnb cash on cash: -0.91% Traditional cash on cash: 7.87% Airbnb Rental Income: $733 Traditional Rental Income: $1291 Airbnb ROI: -0.91% Traditional ROI: 7.87%
9394 E Houghton Lake Drive Houghton Lake, MI This large 2180 square foot home is directly across the street from beautiful Houghton Lak...	4 beds \| 2 baths \| 2,180 sq.ft.	$199,900	Airbnb cash on cash: 6.14% Traditional cash on cash: 10.39% Airbnb Rental Income: $2273 Traditional Rental Income: $2513 Airbnb ROI: 6.14% Traditional ROI: 10.39%
508 Shore View Drive Houghton Lake, MI 50' PRIVATE LAKE ACCESS! Turnkey, completely remodeled home on a 0.25-acre corner lot in a...	2 beds \| 1 baths \| 725 sq.ft.	$187,000	Airbnb cash on cash: 1.67% Traditional cash on cash: 4.37% Airbnb Rental Income: $1084 Traditional Rental Income: $1194 Airbnb ROI: 1.67% Traditional ROI: 4.37%
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.	$549,000	Airbnb cash on cash: 1.3% Traditional cash on cash: 2.06% Airbnb Rental Income: $2693 Traditional Rental Income: $2448 Airbnb ROI: 1.3% Traditional ROI: 2.06%
2229 S Loxley Road Houghton Lake, MI Price Improvement! Seller is extremely motivated! Discover a thoughtfully designed and met...	3 beds \| 3 baths \| 4,000 sq.ft.	$574,900	Airbnb cash on cash: -0.76% Traditional cash on cash: 2.77% Airbnb Rental Income: $1480 Traditional Rental Income: $2936 Airbnb ROI: -0.76% Traditional ROI: 2.77%
5783 W Houghton Lake Drive Houghton Lake, MI Super unique property offering the perfect blend of luxury, entertainment, and functionali...	3 beds \| 4 baths \| 6,750 sq.ft.	$675,000	Airbnb cash on cash: -1.02% Traditional cash on cash: 3.47% Airbnb Rental Income: $1480 Traditional Rental Income: $3872 Airbnb ROI: -1.02% Traditional ROI: 3.47%
301 Sanford Avenue Houghton Lake, MI Charming Two-Bedroom, One-Bathroom Lakefront home on beautiful Houghton Lake! This two-sto...	2 beds \| 1 baths \| 672 sq.ft.	$220,000	Airbnb cash on cash: 1.34% Traditional cash on cash: 5.15% Airbnb Rental Income: $1084 Traditional Rental Income: $1509 Airbnb ROI: 1.34% Traditional ROI: 5.15%
7709 E Houghton Lake Drive Houghton Lake, MI SUNRISES AND SUNSETS! Rare and amazing lakefront condo with Houghton Lake frontage. 3 BR o...	3 beds \| 1 baths \| 1,008 sq.ft.	$254,900	Airbnb cash on cash: 1.89% Traditional cash on cash: 5.16% Airbnb Rental Income: $1480 Traditional Rental Income: $1832 Airbnb ROI: 1.89% Traditional ROI: 5.16%
2185 E Houghton Lake Drive Houghton Lake, MI Nestled on a quiet canal just a 5-minute boat ride from beautiful Houghton Lake, this stun...	5 beds \| 4 baths \| 5,113 sq.ft.	$999,900	Airbnb cash on cash: 0.55% Traditional cash on cash: 2.47% Airbnb Rental Income: $2693 Traditional Rental Income: $3833 Airbnb ROI: 0.55% Traditional ROI: 2.47%
159 Dale Drive Houghton Lake, MI Experience the best of lakefront living with this stunning home on Houghton Lake, offering...	4 beds \| 2 baths \| 2,416 sq.ft.	$739,000	Airbnb cash on cash: 1.29% Traditional cash on cash: 3.07% Airbnb Rental Income: $2273 Traditional Rental Income: $2932 Airbnb ROI: 1.29% Traditional ROI: 3.07%
5358 W Houghton Lake Drive Houghton Lake, MI Don't miss your opportunity to own this Resort with docks and Sandy Beach right on Houghto...	N/A beds \| N/A baths \| N/A	$700,000	Airbnb cash on cash: -1.35% Traditional cash on cash: -0.01% Airbnb Rental Income: $821 Traditional Rental Income: $1371 Airbnb ROI: -1.35% Traditional ROI: -0.01%
103 Whitebirch Drive Houghton Lake, MI Charming Updated Cottage Near Houghton Lake. This very nicely updated and well-maintained ...	1 beds \| 1 baths \| 705 sq.ft.	$160,000	Airbnb cash on cash: -0.58% Traditional cash on cash: 5.89% Airbnb Rental Income: $733 Traditional Rental Income: $1411 Airbnb ROI: -0.58% Traditional ROI: 5.89%
113 Mckee Street Houghton Lake, MI Be the first to own this beautiful, move-in ready new construction home! Completed in 2026...	3 beds \| 2 baths \| 1,456 sq.ft.	$329,900	Airbnb cash on cash: 1.92% Traditional cash on cash: 5.92% Airbnb Rental Income: $1480 Traditional Rental Income: $2284 Airbnb ROI: 1.92% Traditional ROI: 5.92%
103 White Birch Houghton Lake, MI Charming Updated Cottage Near Houghton Lake. This very nicely updated and well-maintained ...	1 beds \| 1 baths \| 705 sq.ft.	$160,000	Airbnb cash on cash: 0.84% Traditional cash on cash: 6.76% Airbnb Rental Income: $733 Traditional Rental Income: $1325 Airbnb ROI: 0.84% Traditional ROI: 6.76%
6344 W Houghton Lake Drive Houghton Lake, MI Owners have enjoyed this home for 26 years!! Houghton Lake views with shared lake access, ...	4 beds \| 2 baths \| 1,960 sq.ft.	$365,000	Airbnb cash on cash: 2.79% Traditional cash on cash: 6.34% Airbnb Rental Income: $2273 Traditional Rental Income: $2923 Airbnb ROI: 2.79% Traditional ROI: 6.34%

Real Estate investment in Houghton-lake, MI

There are 80 properties for sale in the city of Houghton Lake . The median list price in Houghton Lake is $200,405 and the average price per square foot is $130. In November 2026, the average monthly cash on cash return in Houghton Lake is 5.00%. The average monthly rental income in Houghton Lake is $1,519.

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

There are 80 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 $1,519.

Your search for investment property begins and ends here

Investment Property for Sale in Houghton Lake, MI

213 Barcome Avenue

Houghton Lake, MI

3 beds | 2 baths | 1,456 sq.ft.

$175,000

Airbnb cash on cash: 3.76%

Traditional cash on cash: 11.5%

Airbnb Rental Income: $1480

Traditional Rental Income: $2335

Airbnb ROI: 3.76%

Traditional ROI: 11.5%

12739 E Houghton Lake Drive

Houghton Lake, MI

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

$699,000

Airbnb cash on cash: 1.69%

Traditional cash on cash: 3.53%

Airbnb Rental Income: $2693

Traditional Rental Income: $3257

Airbnb ROI: 1.69%

Traditional ROI: 3.53%

6276 W Houghton Lake Drive

Houghton Lake, MI

2 beds | 1 baths | 653 sq.ft.

$200,000

Airbnb cash on cash: 1.49%

Traditional cash on cash: 5.73%

Airbnb Rental Income: $1084

Traditional Rental Income: $1519

Airbnb ROI: 1.49%

Traditional ROI: 5.73%

112 Fisherman Lane

Houghton Lake, MI

3 beds | 1 baths | 1,254 sq.ft.

$169,000

Airbnb cash on cash: 4.35%

Traditional cash on cash: 10.96%

Airbnb Rental Income: $1480

Traditional Rental Income: $2109

Airbnb ROI: 4.35%

Traditional ROI: 10.96%

1210 Long Point

Houghton Lake, MI

4 beds | 3 baths | 1,800 sq.ft.

$549,900

Airbnb cash on cash: 1.18%

Traditional cash on cash: 3.71%

Airbnb Rental Income: $2273

Traditional Rental Income: $3004

Airbnb ROI: 1.18%

Traditional ROI: 3.71%

10205 W Lake City Road

Houghton Lake, MI

3 beds | 1 baths | 1,170 sq.ft.

$149,900

Airbnb cash on cash: 5.27%

Traditional cash on cash: 10.38%

Airbnb Rental Income: $1480

Traditional Rental Income: $1777

Airbnb ROI: 5.27%

Traditional ROI: 10.38%

3540 S Harrison Road

Houghton Lake, MI

3 beds | 2 baths | 1,404 sq.ft.

$299,900

Airbnb cash on cash: 1.51%

Traditional cash on cash: 5.38%

Airbnb Rental Income: $1480

Traditional Rental Income: $2138

Airbnb ROI: 1.51%

Traditional ROI: 5.38%

2385 W HOUGHTON LAKE DRIVE

Houghton Lake, MI

4 beds | 3 baths | 2,423 sq.ft.

$365,000

Airbnb cash on cash: 2.18%

Traditional cash on cash: 4.15%

Airbnb Rental Income: $2273

Traditional Rental Income: $2380

Airbnb ROI: 2.18%