Real Estate Investment Properties for Sale in Lake City, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
1645 S Duck Point Road Lake City, MI Perfectly situated on 264-acre all-sports Sapphire Lake, this charming 2-bedroom, 1-bath c...	2 beds \| 1 baths \| 1,054 sq.ft.	$299,900	Airbnb cash on cash: -0.81% Traditional cash on cash: 3.48% Airbnb Rental Income: $857 Traditional Rental Income: $1736 Airbnb ROI: -0.81% Traditional ROI: 3.48%
1404 S Taxiway Delta Lake City, MI Charming & Spacious 2 Bed / 2 Bath Home with Garage Well maintained and move-in ready, thi...	2 beds \| 2 baths \| 1,216 sq.ft.	$150,000	Airbnb cash on cash: 1.11% Traditional cash on cash: 11.23% Airbnb Rental Income: $857 Traditional Rental Income: $1977 Airbnb ROI: 1.11% Traditional ROI: 11.23%
1550 S Chippewa Lake City, MI This cozy 3 bedroom, 1 bath home is nestled in the woods on 4 lots. It is located right ne...	3 beds \| 1 baths \| 1,075 sq.ft.	$220,000	Airbnb cash on cash: 2.97% Traditional cash on cash: 3.38% Airbnb Rental Income: $1502 Traditional Rental Income: $1148 Airbnb ROI: 2.97% Traditional ROI: 3.38%
407 S Lakeshore Dr Lake City, MI Stunning Views of Lake Missaukee â Luxury, Charm, and Value in One Perfectly positioned...	3 beds \| 2 baths \| 1,608 sq.ft.	$425,000	Airbnb cash on cash: 0.47% Traditional cash on cash: 5.17% Airbnb Rental Income: $1502 Traditional Rental Income: $2931 Airbnb ROI: 0.47% Traditional ROI: 5.17%
7051 N 7 Mile Rd Lake City, MI Set on three private, beautifully landscaped acres, this extensively renovated estate offe...	4 beds \| 4 baths \| 3,292 sq.ft.	$479,900	Airbnb cash on cash: 0.57% Traditional cash on cash: 6.58% Airbnb Rental Income: $1646 Traditional Rental Income: $3885 Airbnb ROI: 0.57% Traditional ROI: 6.58%
8251 W Sapphire Lake City, MI Own a piece of Northern Michigan Lake frontage for a reasonable price! Check out this ador...	2 beds \| 1 baths \| 816 sq.ft.	$350,000	Airbnb cash on cash: -1% Traditional cash on cash: 2.2% Airbnb Rental Income: $857 Traditional Rental Income: $1576 Airbnb ROI: -1% Traditional ROI: 2.2%
6789 W Redman Dr Lake City, MI Great VRBO history!! Nestled in the peaceful curve of Clayton Harbor Bay, this 4-bedroom, ...	3 beds \| 2 baths \| 1,728 sq.ft.	$649,900	Airbnb cash on cash: -0.86% Traditional cash on cash: 0.69% Airbnb Rental Income: $1502 Traditional Rental Income: $2003 Airbnb ROI: -0.86% Traditional ROI: 0.69%
1545 S Lachance Rd Lake City, MI NEW CONSTRUCTION , Maintenance Free, Metal Siding, Metal Standing Seam Roof! Be the very f...	1 beds \| 1 baths \| 390 sq.ft.	$169,900	Airbnb cash on cash: -1.18% Traditional cash on cash: 9.3% Airbnb Rental Income: $390 Traditional Rental Income: $1834 Airbnb ROI: -1.18% Traditional ROI: 9.3%
2183 N Manitou Trl Lake City, MI Set along the peaceful shores of Dyer Lake, this charming three-bedroom, one-bath cottage ...	3 beds \| 1 baths \| 868 sq.ft.	$314,900	Airbnb cash on cash: 0.86% Traditional cash on cash: 1.31% Airbnb Rental Income: $1502 Traditional Rental Income: $1195 Airbnb ROI: 0.86% Traditional ROI: 1.31%
259 N Morey Rd Lake City, MI Welcome to 259 N Morey Rd, Lake City, MI 49651! This 1.06-acre property is fully fenced, e...	3 beds \| 2 baths \| 1,178 sq.ft.	$225,000	Airbnb cash on cash: 2.83% Traditional cash on cash: 10.03% Airbnb Rental Income: $1502 Traditional Rental Income: $2596 Airbnb ROI: 2.83% Traditional ROI: 10.03%
1900 Pavilion Drive Lake City, MI This charming log cottage has a newly painted exterior and features 3 bedrooms, 1 bath, an...	3 beds \| 1 baths \| 1,004 sq.ft.	$185,900	Airbnb cash on cash: 3.5% Traditional cash on cash: 7.96% Airbnb Rental Income: $1502 Traditional Rental Income: $1852 Airbnb ROI: 3.5% Traditional ROI: 7.96%
1264 Birchaven Beach Lake City, MI Come see why life is better at the lake. Your waterfront dream awaits! Welcome Home to...	5 beds \| 2 baths \| 1,800 sq.ft.	$749,900	Airbnb cash on cash: 0.48% Traditional cash on cash: 2.43% Airbnb Rental Income: $2315 Traditional Rental Income: $3102 Airbnb ROI: 0.48% Traditional ROI: 2.43%
8415 W Workman Rd Lake City, MI Welcome to your serene escape overlooking the Clam River! Built in 2009, this beautifully ...	3 beds \| 3 baths \| 2,147 sq.ft.	$599,900	Airbnb cash on cash: 0.28% Traditional cash on cash: 4.39% Airbnb Rental Income: $1502 Traditional Rental Income: $3364 Airbnb ROI: 0.28% Traditional ROI: 4.39%
180 E Sanborn Road Lake City, MI Completely renovated three-bedroom, three-bath home on nine acres just east of Lake City. ...	3 beds \| 2 baths \| 1,344 sq.ft.	$273,900	Airbnb cash on cash: 2.37% Traditional cash on cash: 7.28% Airbnb Rental Income: $1502 Traditional Rental Income: $2331 Airbnb ROI: 2.37% Traditional ROI: 7.28%
4774 S Lachance Rd Lake City, MI Escape to the peace and simplicity of Northern Michigan living with this well-maintained 3...	3 beds \| 1 baths \| 1,107 sq.ft.	$170,000	Airbnb cash on cash: 3.56% Traditional cash on cash: 7.77% Airbnb Rental Income: $1502 Traditional Rental Income: $1745 Airbnb ROI: 3.56% Traditional ROI: 7.77%
7039 W White Birch Ave Lake City, MI Lake Missaukee living made effortless! Nestled on Lake Cityâs 1,880-acre, all-sports lak...	3 beds \| 2 baths \| 2,232 sq.ft.	$899,900	Airbnb cash on cash: -0.4% Traditional cash on cash: 2.09% Airbnb Rental Income: $1502 Traditional Rental Income: $3145 Airbnb ROI: -0.4% Traditional ROI: 2.09%
1404 S Taxiway Delta Lot : 4-6 Lake City, MI Charming & Spacious 2 Bed / 2 Bath Home with Garage Well maintained and move-in ready, thi...	2 beds \| 2 baths \| 1,216 sq.ft.	$150,000	Airbnb cash on cash: 1.69% Traditional cash on cash: 11.81% Airbnb Rental Income: $857 Traditional Rental Income: $1977 Airbnb ROI: 1.69% Traditional ROI: 11.81%
2370 N Morey Road Lake City, MI Charming Farmhouse on Historic "Plank Hill" â 12.5 Acres with Huge Pole Barn Step back ...	1 beds \| 1 baths \| 720 sq.ft.	$209,900	Airbnb cash on cash: -1.34% Traditional cash on cash: 4.87% Airbnb Rental Income: $390 Traditional Rental Income: $1372 Airbnb ROI: -1.34% Traditional ROI: 4.87%
1667 E Walker Rd Lake City, MI 40-Acre Turnkey Hunting Retreat â Lake City, MI Just 10 minutes outside of Lake City, do...	4 beds \| 1 baths \| 1,708 sq.ft.	$214,900	Airbnb cash on cash: 3.55% Traditional cash on cash: 7.92% Airbnb Rental Income: $1646 Traditional Rental Income: $2072 Airbnb ROI: 3.55% Traditional ROI: 7.92%
1779 S Green Road Lake City, MI Are you kidding...a cottage on beautiful all-sports Lake Missaukee for under $500,000. 70'...	2 beds \| 1 baths \| 600 sq.ft.	$429,000	Airbnb cash on cash: -1.18% Traditional cash on cash: 1.24% Airbnb Rental Income: $857 Traditional Rental Income: $1498 Airbnb ROI: -1.18% Traditional ROI: 1.24%
8303 W Sapphire Lake City, MI 8303 W Sapphire, Lake City, MI 49651 \| Single Family Residential	6 beds \| 3 baths \| 2,800 sq.ft.	$739,900	Airbnb cash on cash: -0.14% Traditional cash on cash: 1.88% Airbnb Rental Income: $2315 Traditional Rental Income: $3138 Airbnb ROI: -0.14% Traditional ROI: 1.88%
6789 W Redman Dr Lot : 42 Lake City, MI 6789 W Redman Dr Lot : 42, Lake City, MI 49651 \| Single Family Residential	4 beds \| 2 baths \| 1,728 sq.ft.	$649,900	Airbnb cash on cash: -0.73% Traditional cash on cash: 1.07% Airbnb Rental Income: $1646 Traditional Rental Income: $2274 Airbnb ROI: -0.73% Traditional ROI: 1.07%
VL Forward Lake City, MI VL Forward, Lake City, MI 49651 \| Other	N/A beds \| N/A baths \| N/A	$139,900	Airbnb cash on cash: -1.34% Traditional cash on cash: 2.76% Airbnb Rental Income: $527 Traditional Rental Income: $800 Airbnb ROI: -1.34% Traditional ROI: 2.76%
222 N Main St Lake City, MI 222 N Main St, Lake City, MI 49651 \| Other	N/A beds \| N/A baths \| N/A	$64,900	Airbnb cash on cash: -0.04% Traditional cash on cash: 8.48% Airbnb Rental Income: $527 Traditional Rental Income: $802 Airbnb ROI: -0.04% Traditional ROI: 8.48%
248 S Carolyn Dr Lake City, MI Pure Michigan at its most refinedâset along the crystal-clear shores of Lake Missaukee, ...	5 beds \| 3 baths \| 3,768 sq.ft.	$1,399,999	Airbnb cash on cash: -0.27% Traditional cash on cash: 1.08% Airbnb Rental Income: $2315 Traditional Rental Income: $3496 Airbnb ROI: -0.27% Traditional ROI: 1.08%
111 S Dana Trl Lake City, MI Welcome to life on the waterâwhere every day begins with peaceful lake views and ends wi...	3 beds \| 2 baths \| 1,865 sq.ft.	$589,900	Airbnb cash on cash: -0.02% Traditional cash on cash: 3.17% Airbnb Rental Income: $1502 Traditional Rental Income: $2823 Airbnb ROI: -0.02% Traditional ROI: 3.17%
8355 W Sapphire Lake City, MI 8355 W Sapphire, Lake City, MI 49651 \| Other	N/A beds \| N/A baths \| N/A	$175,000	Airbnb cash on cash: -1.57% Traditional cash on cash: 2.14% Airbnb Rental Income: $527 Traditional Rental Income: $869 Airbnb ROI: -1.57% Traditional ROI: 2.14%
8355 W Sapphire Lot : 107 Lake City, MI 8355 W Sapphire Lot : 107, Lake City, MI 49651 \| Other	N/A beds \| N/A baths \| N/A	$175,000	Airbnb cash on cash: -1.57% Traditional cash on cash: 2.13% Airbnb Rental Income: $527 Traditional Rental Income: $868 Airbnb ROI: -1.57% Traditional ROI: 2.13%
7049 W White Birch Ave Lake City, MI Lake Missaukee living at its best. This 3-bedroom, 1.5-bath home in Lettich Cove offers pr...	3 beds \| 1 baths \| 1,408 sq.ft.	$520,000	Airbnb cash on cash: 0.43% Traditional cash on cash: 3.44% Airbnb Rental Income: $1502 Traditional Rental Income: $2524 Airbnb ROI: 0.43% Traditional ROI: 3.44%
602 S King St Lake City, MI Welcome to one of the most unique opportunities in Lake City. This newly built 3-bedroom, ...	3 beds \| 2 baths \| 1,384 sq.ft.	$499,900	Airbnb cash on cash: -0.45% Traditional cash on cash: 2.74% Airbnb Rental Income: $1502 Traditional Rental Income: $2558 Airbnb ROI: -0.45% Traditional ROI: 2.74%
2561 E Johnson Rd Lake City, MI Escape to your own Pure Michigan retreat with this charming 3-bedroom log home set on 15.7...	3 beds \| 1 baths \| 1,812 sq.ft.	$270,000	Airbnb cash on cash: 1.29% Traditional cash on cash: 4.42% Airbnb Rental Income: $1502 Traditional Rental Income: $1862 Airbnb ROI: 1.29% Traditional ROI: 4.42%
5322 S Lachance Road Lake City, MI Location, location, location on this well cared for hobby farm between Cadillac and Lake C...	4 beds \| 2 baths \| 1,780 sq.ft.	$290,000	Airbnb cash on cash: 2.09% Traditional cash on cash: 7.17% Airbnb Rental Income: $1646 Traditional Rental Income: $2571 Airbnb ROI: 2.09% Traditional ROI: 7.17%
1876 S Schneider St Lake City, MI 1876 S Schneider St, Lake City, MI 49651 \| Single Family Residential	3 beds \| 3 baths \| 2,135 sq.ft.	$399,900	Airbnb cash on cash: 0.05% Traditional cash on cash: 4.75% Airbnb Rental Income: $1502 Traditional Rental Income: $2826 Airbnb ROI: 0.05% Traditional ROI: 4.75%
980 N Stevens Rd Lake City, MI Charming country setting just outside of Lake City! This 2-bedroom, 1-bath home sits on a ...	2 beds \| 1 baths \| 1,008 sq.ft.	$184,900	Airbnb cash on cash: 0.5% Traditional cash on cash: 6.88% Airbnb Rental Income: $857 Traditional Rental Income: $1647 Airbnb ROI: 0.5% Traditional ROI: 6.88%
00 Forward Lake City, MI 00 Forward, Lake City, MI 49651 \| Other	N/A beds \| N/A baths \| N/A	$239,900	Airbnb cash on cash: -1.83% Traditional cash on cash: 1.11% Airbnb Rental Income: $527 Traditional Rental Income: $916 Airbnb ROI: -1.83% Traditional ROI: 1.11%
8670 W Jennings Rd Lake City, MI This beautifully maintained 4-bedroom, 2.5-bath hilltop home offers the perfect blend of s...	4 beds \| 2 baths \| 2,070 sq.ft.	$385,000	Airbnb cash on cash: 1.38% Traditional cash on cash: 7.05% Airbnb Rental Income: $1646 Traditional Rental Income: $3232 Airbnb ROI: 1.38% Traditional ROI: 7.05%
2255 Wenonah Trl Lake City, MI Nestled on 89 ft. of private frontage along peaceful Dyer Lake, this beautifully remodeled...	3 beds \| 2 baths \| 1,724 sq.ft.	$414,900	Airbnb cash on cash: 0.91% Traditional cash on cash: 5.62% Airbnb Rental Income: $1502 Traditional Rental Income: $2894 Airbnb ROI: 0.91% Traditional ROI: 5.62%
1849 S Goldenrod Lake City, MI Picture yourself beginning the day on your newly stained front deck with coffee in hand an...	2 beds \| 1 baths \| 1,000 sq.ft.	$289,900	Airbnb cash on cash: -0.2% Traditional cash on cash: 4.85% Airbnb Rental Income: $857 Traditional Rental Income: $1905 Airbnb ROI: -0.2% Traditional ROI: 4.85%
10403 W Round Lake Road Lake City, MI Welcome home to this beautifully 2024 built 3-bedroom, 2-bath ranch tucked away on a seren...	3 beds \| 2 baths \| 960 sq.ft.	$215,000	Airbnb cash on cash: 3.53% Traditional cash on cash: 8.71% Airbnb Rental Income: $1502 Traditional Rental Income: $2117 Airbnb ROI: 3.53% Traditional ROI: 8.71%
1504 S Birchaven Bch Lake City, MI Dreaming of the those warm summer days, how about sitting on a large deck watching an unbe...	3 beds \| 2 baths \| 1,100 sq.ft.	$689,900	Airbnb cash on cash: -1.02% Traditional cash on cash: 0.55% Airbnb Rental Income: $1502 Traditional Rental Income: $2075 Airbnb ROI: -1.02% Traditional ROI: 0.55%

Real Estate investment in Lake-city, MI

There are 67 properties for sale in the city of Lake City . The median list price in Lake City is $247,272 and the average price per square foot is $133. In June 2026, the average monthly cash on cash return in Lake City is 5.00%. The average monthly rental income in Lake City is $1,857.

Lake-city, MI Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 67 investment properties available for sale in Lake-city.

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

The ROI for Short-Term is higher than the Long-Term in Lake-city with average rental income of $1,502.

Your search for investment property begins and ends here

Investment Property for Sale in Lake City, MI

1645 S Duck Point Road

Lake City, MI

2 beds | 1 baths | 1,054 sq.ft.

$299,900

Airbnb cash on cash: -0.81%

Traditional cash on cash: 3.48%

Airbnb Rental Income: $857

Traditional Rental Income: $1736

Airbnb ROI: -0.81%

Traditional ROI: 3.48%

1404 S Taxiway Delta

Lake City, MI

2 beds | 2 baths | 1,216 sq.ft.

$150,000

Airbnb cash on cash: 1.11%

Traditional cash on cash: 11.23%

Airbnb Rental Income: $857

Traditional Rental Income: $1977

Airbnb ROI: 1.11%

Traditional ROI: 11.23%

1550 S Chippewa

Lake City, MI

3 beds | 1 baths | 1,075 sq.ft.

$220,000

Airbnb cash on cash: 2.97%

Traditional cash on cash: 3.38%

Airbnb Rental Income: $1502

Traditional Rental Income: $1148

Airbnb ROI: 2.97%

Traditional ROI: 3.38%

407 S Lakeshore Dr

Lake City, MI

3 beds | 2 baths | 1,608 sq.ft.

$425,000

Airbnb cash on cash: 0.47%

Traditional cash on cash: 5.17%

Airbnb Rental Income: $1502

Traditional Rental Income: $2931

Airbnb ROI: 0.47%

Traditional ROI: 5.17%

7051 N 7 Mile Rd

Lake City, MI

4 beds | 4 baths | 3,292 sq.ft.

$479,900

Airbnb cash on cash: 0.57%

Traditional cash on cash: 6.58%

Airbnb Rental Income: $1646

Traditional Rental Income: $3885

Airbnb ROI: 0.57%

Traditional ROI: 6.58%

8251 W Sapphire

Lake City, MI

2 beds | 1 baths | 816 sq.ft.

$350,000

Airbnb cash on cash: -1%

Traditional cash on cash: 2.2%

Airbnb Rental Income: $857

Traditional Rental Income: $1576

Airbnb ROI: -1%

Traditional ROI: 2.2%

6789 W Redman Dr

Lake City, MI

3 beds | 2 baths | 1,728 sq.ft.

$649,900

Airbnb cash on cash: -0.86%

Traditional cash on cash: 0.69%

Airbnb Rental Income: $1502

Traditional Rental Income: $2003

Airbnb ROI: -0.86%

Traditional ROI: 0.69%

1545 S Lachance Rd

Lake City, MI

1 beds | 1 baths | 390 sq.ft.

$169,900

Airbnb cash on cash: -1.18%

Traditional cash on cash: 9.3%

Airbnb Rental Income: $390

Traditional Rental Income: $1834

Airbnb ROI: -1.18%