Real Estate Investment Properties for Sale in Kalkaska, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
103 Arbor Street Kalkaska, MI This Quaint farmhouse is a must see and ready to move in! It's been nicely kept with 3 bed...	3 beds \| 1 baths \| 1,120 sq.ft.	$244,900	Airbnb cash on cash: -0.6% Traditional cash on cash: 5.12% Airbnb Rental Income: $872 Traditional Rental Income: $1860 Airbnb ROI: -0.6% Traditional ROI: 5.12%
1021 W KALKASKA ROAD Kalkaska, MI Fantastic location in Kalkaska and truly move-in ready! This inviting home offers 1,440 sq...	3 beds \| 1 baths \| 2,880 sq.ft.	$299,900	Airbnb cash on cash: -0.95% Traditional cash on cash: 4.29% Airbnb Rental Income: $872 Traditional Rental Income: $2017 Airbnb ROI: -0.95% Traditional ROI: 4.29%
409 Walnut Kalkaska, MI Cozy home in the Village of Kalkaska offering 2 bedrooms, 1 bath, and over 1,200 square fe...	2 beds \| 1 baths \| 1,280 sq.ft.	$200,000	Airbnb cash on cash: -1.14% Traditional cash on cash: 5.56% Airbnb Rental Income: $652 Traditional Rental Income: $1627 Airbnb ROI: -1.14% Traditional ROI: 5.56%
409 S Cherry St Kalkaska, MI Believed to be built around the turn of the century , and no doubt has some great history....	4 beds \| 2 baths \| 1,403 sq.ft.	$220,000	Airbnb cash on cash: 3.53% Traditional cash on cash: 2.31% Airbnb Rental Income: $1850 Traditional Rental Income: $1099 Airbnb ROI: 3.53% Traditional ROI: 2.31%
TBB 5086 Red Maple Drive Kalkaska, MI Experience main floor living at its best in this upcoming 3-bedroom, 1.5-bath ranch-style ...	3 beds \| 2 baths \| 1,335 sq.ft.	$359,900	Airbnb cash on cash: -1.21% Traditional cash on cash: 2.82% Airbnb Rental Income: $872 Traditional Rental Income: $1898 Airbnb ROI: -1.21% Traditional ROI: 2.82%
4029 E Shore Drive NE #3 Kalkaska, MI Sunsets come standard at this fully furnished waterfront condo perched on the peaceful sho...	3 beds \| 2 baths \| 1,164 sq.ft.	$375,000	Airbnb cash on cash: -0.62% Traditional cash on cash: 4.18% Airbnb Rental Income: $872 Traditional Rental Income: $2227 Airbnb ROI: -0.62% Traditional ROI: 4.18%
1568 Poplar Drive, Ne Kalkaska, MI Log Lake shared frontage. This two-bedroom cottage has an open living area with full bath ...	2 beds \| 1 baths \| 864 sq.ft.	$275,000	Airbnb cash on cash: -1.51% Traditional cash on cash: 2.78% Airbnb Rental Income: $652 Traditional Rental Income: $1467 Airbnb ROI: -1.51% Traditional ROI: 2.78%
714 SE Saunders Road Kalkaska, MI Beautiful private setting close to town this newly built home offers the comfort of the co...	3 beds \| 2 baths \| 1,431 sq.ft.	$315,000	Airbnb cash on cash: -0.38% Traditional cash on cash: 6.09% Airbnb Rental Income: $872 Traditional Rental Income: $2455 Airbnb ROI: -0.38% Traditional ROI: 6.09%
2692 Kettle Lake Road Kalkaska, MI This is a must-see! As soon as you step into the backyard of this stunning 4-acre property...	3 beds \| 2 baths \| 1,200 sq.ft.	$319,000	Airbnb cash on cash: -0.15% Traditional cash on cash: 5.35% Airbnb Rental Income: $872 Traditional Rental Income: $2188 Airbnb ROI: -0.15% Traditional ROI: 5.35%
5611 NE EAST SHORE DRIVE Kalkaska, MI Welcome to your serene retreat at 5611 NE East Shore Drive in Kalkaska. This charming ranc...	3 beds \| 2 baths \| 1,438 sq.ft.	$249,000	Airbnb cash on cash: 0.7% Traditional cash on cash: 8.22% Airbnb Rental Income: $872 Traditional Rental Income: $2308 Airbnb ROI: 0.7% Traditional ROI: 8.22%
603 PAW PAW STREET Kalkaska, MI NEW BOCA MODULAR HOME for Sale in Kalkaska! This lovely home is a 2025 build and ready for...	4 beds \| 2 baths \| 1,387 sq.ft.	$279,000	Airbnb cash on cash: 3.73% Traditional cash on cash: 7.93% Airbnb Rental Income: $1850 Traditional Rental Income: $2457 Airbnb ROI: 3.73% Traditional ROI: 7.93%
5059 NE Rogers Road Kalkaska, MI Discover peace, privacy, and endless outdoor adventure with this beautifully framed 3-bedr...	3 beds \| 2 baths \| 1,139 sq.ft.	$224,000	Airbnb cash on cash: 0.42% Traditional cash on cash: 7.49% Airbnb Rental Income: $872 Traditional Rental Income: $2036 Airbnb ROI: 0.42% Traditional ROI: 7.49%
7033 NE WC Cross Drive Kalkaska, MI Check out this inviting cottage on the Manistee Channel opens the door to an 860-acre all-...	2 beds \| 1 baths \| 832 sq.ft.	$299,998	Airbnb cash on cash: -0.24% Traditional cash on cash: 4.31% Airbnb Rental Income: $652 Traditional Rental Income: $1639 Airbnb ROI: -0.24% Traditional ROI: 4.31%
4181 NE Sands Park Drive Kalkaska, MI Excellent Up North Location! Just a quarter mile down the road from Sands Park beach and b...	2 beds \| 1 baths \| 852 sq.ft.	$139,900	Airbnb cash on cash: 0.53% Traditional cash on cash: 9.84% Airbnb Rental Income: $652 Traditional Rental Income: $1603 Airbnb ROI: 0.53% Traditional ROI: 9.84%
6017 NE MYERS ROAD Kalkaska, MI Discover your new retreat in beautiful Kalkaska, where nature and comfort blend seamlessly...	3 beds \| 2 baths \| 1,232 sq.ft.	$169,000	Airbnb cash on cash: 1.23% Traditional cash on cash: 10.54% Airbnb Rental Income: $872 Traditional Rental Income: $2037 Airbnb ROI: 1.23% Traditional ROI: 10.54%
5532 Kerbysons Drive SE Kalkaska, MI Your Up North Oasis Awaits on East Lake in KALKASKA COUNTY. Swan Dive or Cannon Ball int...	2 beds \| 2 baths \| 2,000 sq.ft.	$379,900	Airbnb cash on cash: -0.4% Traditional cash on cash: 6.5% Airbnb Rental Income: $652 Traditional Rental Income: $2811 Airbnb ROI: -0.4% Traditional ROI: 6.5%
11436 Lakeview Road NE Kalkaska, MI It's not too late...this 'Treehouse' in Michigan assures your enjoyment through all four s...	3 beds \| 3 baths \| 3,000 sq.ft.	$799,900	Airbnb cash on cash: -2.01% Traditional cash on cash: 1.98% Airbnb Rental Income: $872 Traditional Rental Income: $3516 Airbnb ROI: -2.01% Traditional ROI: 1.98%
1570 NE Kettle Lake Road Kalkaska, MI Welcome to this charming 2-bed, 1-bath home nestled into a wonderfully peaceful and privat...	2 beds \| 1 baths \| 960 sq.ft.	$185,000	Airbnb cash on cash: -1.03% Traditional cash on cash: 6.81% Airbnb Rental Income: $652 Traditional Rental Income: $1733 Airbnb ROI: -1.03% Traditional ROI: 6.81%
1967 NE Fairways Drive Kalkaska, MI Charming 3-bedroom, 2-bath home tucked into a peaceful, wooded setting in the desirable Fa...	3 beds \| 2 baths \| 1,860 sq.ft.	$339,900	Airbnb cash on cash: -0.56% Traditional cash on cash: 5.92% Airbnb Rental Income: $872 Traditional Rental Income: $2609 Airbnb ROI: -0.56% Traditional ROI: 5.92%
870 SW Quail Drive Kalkaska, MI Spacious 4 bedroom, 2 bath home with full basement and an attached 50x31 garage offering e...	4 beds \| 2 baths \| 1,800 sq.ft.	$330,000	Airbnb cash on cash: 2.64% Traditional cash on cash: 6.72% Airbnb Rental Income: $1850 Traditional Rental Income: $2618 Airbnb ROI: 2.64% Traditional ROI: 6.72%
411 S WALNUT STREET Kalkaska, MI Charming farmhouse-style home located in the village of Kalkaska! This inviting property o...	3 beds \| 2 baths \| 1,794 sq.ft.	$375,000	Airbnb cash on cash: -0.69% Traditional cash on cash: 0.57% Airbnb Rental Income: $872 Traditional Rental Income: $981 Airbnb ROI: -0.69% Traditional ROI: 0.57%
302 W Dresden Street Kalkaska, MI Just reduced! You won't believe this remodeled home is not brand new! Welcome home, to yo...	5 beds \| 4 baths \| 3,096 sq.ft.	$470,000	Airbnb cash on cash: 0.38% Traditional cash on cash: 6.39% Airbnb Rental Income: $1120 Traditional Rental Income: $3388 Airbnb ROI: 0.38% Traditional ROI: 6.39%
316 S Coral St Kalkaska, MI 316 S Coral St, Kalkaska, MI 49646 \| Single Family Residential	6 beds \| 2 baths \| 2,400 sq.ft.	$174,900	Airbnb cash on cash: 1.4% Traditional cash on cash: 11.15% Airbnb Rental Income: $1120 Traditional Rental Income: $2369 Airbnb ROI: 1.4% Traditional ROI: 11.15%
V/L 80AC State Rd #80 Acres Kalkaska, MI V/L 80AC State Rd, Kalkaska, MI 49646 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$99,500	Airbnb cash on cash: -0.99% Traditional cash on cash: 7.63% Airbnb Rental Income: $514 Traditional Rental Income: $1073 Airbnb ROI: -0.99% Traditional ROI: 7.63%
6765 Birch Dr NE Kalkaska, MI 6765 Birch Dr NE, Kalkaska, MI 49646 \| Single Family Residential	5 beds \| 2 baths \| 2,576 sq.ft.	$399,000	Airbnb cash on cash: -0.78% Traditional cash on cash: N/A Airbnb Rental Income: $1120 Traditional Rental Income: $0 Airbnb ROI: -0.78% Traditional ROI: N/A
222 Chestnut St NE Kalkaska, MI 222 Chestnut St NE, Kalkaska, MI 49646 \| Single Family Residential	3 beds \| 2 baths \| 1,758 sq.ft.	$287,000	Airbnb cash on cash: -0.88% Traditional cash on cash: 5.42% Airbnb Rental Income: $872 Traditional Rental Income: $2239 Airbnb ROI: -0.88% Traditional ROI: 5.42%
5877 E Lake Five Ln Kalkaska, MI 5877 E Lake Five Ln, Kalkaska, MI 49646 \| Single Family Residential	4 beds \| 5 baths \| 4,543 sq.ft.	$1,075,000	Airbnb cash on cash: -1.27% Traditional cash on cash: 2.24% Airbnb Rental Income: $1850 Traditional Rental Income: $4861 Airbnb ROI: -1.27% Traditional ROI: 2.24%
5038 NE East Shore Dr Kalkaska, MI 5038 NE East Shore Dr, Kalkaska, MI 49646 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$70,000	Airbnb cash on cash: -0.38% Traditional cash on cash: 7.7% Airbnb Rental Income: $514 Traditional Rental Income: $800 Airbnb ROI: -0.38% Traditional ROI: 7.7%
616 Dresden Rd Kalkaska, MI 616 Dresden Rd, Kalkaska, MI 49646 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$350,000	Airbnb cash on cash: -2.08% Traditional cash on cash: 0.46% Airbnb Rental Income: $514 Traditional Rental Income: $1073 Airbnb ROI: -2.08% Traditional ROI: 0.46%
5611 NE East Shore Dr Lot : 11 Kalkaska, MI 5611 NE East Shore Dr Lot : 11, Kalkaska, MI 49646 \| Single Family Residential	3 beds \| 2 baths \| 1,438 sq.ft.	$249,000	Airbnb cash on cash: -0.63% Traditional cash on cash: 5.75% Airbnb Rental Income: $872 Traditional Rental Income: $2039 Airbnb ROI: -0.63% Traditional ROI: 5.75%
5611 NE East Shore Dr Lot : 10-11 Kalkaska, MI 5611 NE East Shore Dr Lot : 10-11, Kalkaska, MI 49646 \| Single Family Residential	3 beds \| 2 baths \| 1,438 sq.ft.	$325,000	Airbnb cash on cash: -1.07% Traditional cash on cash: 3.82% Airbnb Rental Income: $872 Traditional Rental Income: $2030 Airbnb ROI: -1.07% Traditional ROI: 3.82%
7033 NE WC Cross Dr Lot : 12 Kalkaska, MI 7033 NE WC Cross Dr Lot : 12, Kalkaska, MI 49659 \| Single Family Residential	2 beds \| 1 baths \| 832 sq.ft.	$299,998	Airbnb cash on cash: -1.6% Traditional cash on cash: 1.56% Airbnb Rental Income: $652 Traditional Rental Income: $1245 Airbnb ROI: -1.6% Traditional ROI: 1.56%
5616 E Shore Kalkaska, MI 5616 E Shore, Kalkaska, MI 49646 \| Other	N/A beds \| N/A baths \| N/A	$80,000	Airbnb cash on cash: -0.63% Traditional cash on cash: 6.52% Airbnb Rental Income: $514 Traditional Rental Income: $802 Airbnb ROI: -0.63% Traditional ROI: 6.52%
0 State Rd Kalkaska, MI 0 State Rd, Kalkaska, MI 49646 \| Other	N/A beds \| N/A baths \| N/A	$99,500	Airbnb cash on cash: -0.99% Traditional cash on cash: 4.81% Airbnb Rental Income: $514 Traditional Rental Income: $800 Airbnb ROI: -0.99% Traditional ROI: 4.81%
000 Bear Ln Kalkaska, MI 000 Bear Ln, Kalkaska, MI 49646 \| Other	N/A beds \| N/A baths \| N/A	$440,000	Airbnb cash on cash: -2.17% Traditional cash on cash: -0.81% Airbnb Rental Income: $514 Traditional Rental Income: $800 Airbnb ROI: -2.17% Traditional ROI: -0.81%
00 M-72 Kalkaska, MI 00 M-72, Kalkaska, MI 49646 \| Other	N/A beds \| N/A baths \| N/A	$239,000	Airbnb cash on cash: -1.87% Traditional cash on cash: 0.61% Airbnb Rental Income: $514 Traditional Rental Income: $800 Airbnb ROI: -1.87% Traditional ROI: 0.61%
000 Pontius Rd Kalkaska, MI 000 Pontius Rd, Kalkaska, MI 49646 \| Other	N/A beds \| N/A baths \| N/A	$90,000	Airbnb cash on cash: -0.84% Traditional cash on cash: 5.54% Airbnb Rental Income: $514 Traditional Rental Income: $800 Airbnb ROI: -0.84% Traditional ROI: 5.54%
000 Pontius Rd SE Kalkaska, MI 000 Pontius Rd SE, Kalkaska, MI 49646 \| Other	N/A beds \| N/A baths \| N/A	$90,000	Airbnb cash on cash: -0.84% Traditional cash on cash: 5.54% Airbnb Rental Income: $514 Traditional Rental Income: $800 Airbnb ROI: -0.84% Traditional ROI: 5.54%
4029 E Shore Dr NE Kalkaska, MI 4029 E Shore Dr NE, Kalkaska, MI 49646 \| Condo/Coop	3 beds \| 1 baths \| 1,164 sq.ft.	$375,000	Airbnb cash on cash: -1.73% Traditional cash on cash: 1.18% Airbnb Rental Income: $872 Traditional Rental Income: $1562 Airbnb ROI: -1.73% Traditional ROI: 1.18%
303 S Orange Street Kalkaska, MI Move right into this well maintained 3 bedroom, 2 bath home located in the Village of Kalk...	3 beds \| 2 baths \| 1,344 sq.ft.	$205,000	Airbnb cash on cash: 0.95% Traditional cash on cash: 9.39% Airbnb Rental Income: $872 Traditional Rental Income: $2177 Airbnb ROI: 0.95% Traditional ROI: 9.39%

Real Estate investment in Kalkaska, MI

There are 50 properties for sale in the city of Kalkaska . The median list price in Kalkaska is $205,000 and the average price per square foot is $144. In March 2026, the average monthly cash on cash return in Kalkaska is 6.00%. The average monthly rental income in Kalkaska is $1,286.

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

There are 50 investment properties available for sale in Kalkaska.

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

The ROI for Short-Term is higher than the Long-Term in Kalkaska with average rental income of $652.

Your search for investment property begins and ends here

Investment Property for Sale in Kalkaska, MI

103 Arbor Street

Kalkaska, MI

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

$244,900

Airbnb cash on cash: -0.6%

Traditional cash on cash: 5.12%

Airbnb Rental Income: $872

Traditional Rental Income: $1860

Airbnb ROI: -0.6%

Traditional ROI: 5.12%

1021 W KALKASKA ROAD

Kalkaska, MI

3 beds | 1 baths | 2,880 sq.ft.

$299,900

Airbnb cash on cash: -0.95%

Traditional cash on cash: 4.29%

Airbnb Rental Income: $872

Traditional Rental Income: $2017

Airbnb ROI: -0.95%

Traditional ROI: 4.29%

409 Walnut

Kalkaska, MI

2 beds | 1 baths | 1,280 sq.ft.

$200,000

Airbnb cash on cash: -1.14%

Traditional cash on cash: 5.56%

Airbnb Rental Income: $652

Traditional Rental Income: $1627

Airbnb ROI: -1.14%

Traditional ROI: 5.56%

409 S Cherry St

Kalkaska, MI

4 beds | 2 baths | 1,403 sq.ft.

$220,000

Airbnb cash on cash: 3.53%

Traditional cash on cash: 2.31%

Airbnb Rental Income: $1850

Traditional Rental Income: $1099

Airbnb ROI: 3.53%

Traditional ROI: 2.31%

TBB 5086 Red Maple Drive

Kalkaska, MI

3 beds | 2 baths | 1,335 sq.ft.

$359,900

Airbnb cash on cash: -1.21%

Traditional cash on cash: 2.82%

Airbnb Rental Income: $872

Traditional Rental Income: $1898

Airbnb ROI: -1.21%

Traditional ROI: 2.82%

4029 E Shore Drive NE #3

Kalkaska, MI

3 beds | 2 baths | 1,164 sq.ft.

$375,000

Airbnb cash on cash: -0.62%

Traditional cash on cash: 4.18%

Airbnb Rental Income: $872

Traditional Rental Income: $2227

Airbnb ROI: -0.62%

Traditional ROI: 4.18%

1568 Poplar Drive, Ne

Kalkaska, MI

2 beds | 1 baths | 864 sq.ft.

$275,000

Airbnb cash on cash: -1.51%

Traditional cash on cash: 2.78%

Airbnb Rental Income: $652

Traditional Rental Income: $1467

Airbnb ROI: -1.51%

Traditional ROI: 2.78%

714 SE Saunders Road

Kalkaska, MI

3 beds | 2 baths | 1,431 sq.ft.

$315,000

Airbnb cash on cash: -0.38%

Traditional cash on cash: 6.09%

Airbnb Rental Income: $872

Traditional Rental Income: $2455

Airbnb ROI: -0.38%