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

separator

PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
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.	$159,900	Airbnb cash on cash: 0.12% Traditional cash on cash: 10.49% Airbnb Rental Income: $698 Traditional Rental Income: $1977 Airbnb ROI: 0.12% Traditional ROI: 10.49%
327 S Gladwin Street Lake City, MI Located near downtown Lake City, this 2-bedroom, 2-bath home offers comfort and convenienc...	2 beds \| 2 baths \| 1,250 sq.ft.	$159,900	Airbnb cash on cash: -1.46% Traditional cash on cash: 8.51% Airbnb Rental Income: $698 Traditional Rental Income: $1914 Airbnb ROI: -1.46% Traditional ROI: 8.51%
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: 1.07% Traditional cash on cash: 3.38% Airbnb Rental Income: $1028 Traditional Rental Income: $1148 Airbnb ROI: 1.07% 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.	$449,900	Airbnb cash on cash: -0.54% Traditional cash on cash: 4.83% Airbnb Rental Income: $1028 Traditional Rental Income: $2931 Airbnb ROI: -0.54% Traditional ROI: 4.83%
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.	$375,000	Airbnb cash on cash: -1.38% Traditional cash on cash: 1.99% Airbnb Rental Income: $698 Traditional Rental Income: $1576 Airbnb ROI: -1.38% Traditional ROI: 1.99%
6789 W Redman Dr Lake City, MI Nestled in the peaceful curve of Clayton Harbor Bay, this 4-bedroom, 2.5-bath storybook co...	3 beds \| 2 baths \| 1,728 sq.ft.	$649,900	Airbnb cash on cash: -1.3% Traditional cash on cash: 0.69% Airbnb Rental Income: $1185 Traditional Rental Income: $2003 Airbnb ROI: -1.3% Traditional ROI: 0.69%
2183 Wenonah Trail 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.	$325,000	Airbnb cash on cash: -0.48% Traditional cash on cash: 1.24% Airbnb Rental Income: $1028 Traditional Rental Income: $1195 Airbnb ROI: -0.48% Traditional ROI: 1.24%
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.	$249,000	Airbnb cash on cash: 0.79% Traditional cash on cash: 8.99% Airbnb Rental Income: $1028 Traditional Rental Income: $2596 Airbnb ROI: 0.79% Traditional ROI: 8.99%
1900 Pavilion Dr 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: 1.26% Traditional cash on cash: 7.96% Airbnb Rental Income: $1028 Traditional Rental Income: $1852 Airbnb ROI: 1.26% Traditional ROI: 7.96%
1264 Birchaven Bch 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: -0.97% Traditional cash on cash: 2.43% Airbnb Rental Income: $1097 Traditional Rental Income: $3102 Airbnb ROI: -0.97% 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: -0.42% Traditional cash on cash: 4.39% Airbnb Rental Income: $1028 Traditional Rental Income: $3364 Airbnb ROI: -0.42% Traditional ROI: 4.39%
301 N Main Street Lake City, MI Motivated seller and this is a steal of a deal. Check out this beautiful home in Lake City...	4 beds \| 3 baths \| 3,035 sq.ft.	$225,000	Airbnb cash on cash: -1% Traditional cash on cash: 11.51% Airbnb Rental Income: $1185 Traditional Rental Income: $3462 Airbnb ROI: -1% Traditional ROI: 11.51%
180 E Sanborn Rd 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.	$279,900	Airbnb cash on cash: 0.8% Traditional cash on cash: 7.11% Airbnb Rental Income: $1028 Traditional Rental Income: $2331 Airbnb ROI: 0.8% Traditional ROI: 7.11%
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: -0.87% Traditional cash on cash: 2.09% Airbnb Rental Income: $1028 Traditional Rental Income: $3145 Airbnb ROI: -0.87% 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.	$159,900	Airbnb cash on cash: 0.66% Traditional cash on cash: 11.04% Airbnb Rental Income: $698 Traditional Rental Income: $1977 Airbnb ROI: 0.66% Traditional ROI: 11.04%
2370 N Morey Rd 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.	$219,900	Airbnb cash on cash: -1.57% Traditional cash on cash: 4.61% Airbnb Rental Income: $329 Traditional Rental Income: $1372 Airbnb ROI: -1.57% Traditional ROI: 4.61%
1667 E Walker Road 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.	$229,900	Airbnb cash on cash: 1.49% Traditional cash on cash: 7.35% Airbnb Rental Income: $1185 Traditional Rental Income: $2072 Airbnb ROI: 1.49% Traditional ROI: 7.35%
10242 N 7 Mile Rd Lake City, MI Secluded 5-Acre Retreat Backed by State Land â Modern Comfort in the Middle of the Woods...	3 beds \| 2 baths \| 1,200 sq.ft.	$205,000	Airbnb cash on cash: 1.17% Traditional cash on cash: 8.52% Airbnb Rental Income: $1028 Traditional Rental Income: $2097 Airbnb ROI: 1.17% Traditional ROI: 8.52%
1779 S Green Rd 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: -1.49% Traditional cash on cash: 1.14% Airbnb Rental Income: $698 Traditional Rental Income: $1498 Airbnb ROI: -1.49% Traditional ROI: 1.14%
9321 W Oak Dr Lake City, MI This beautiful waterfront 4-bedroom 2-full bath cottage provides lots of room for the whol...	5 beds \| 2 baths \| 1,550 sq.ft.	$519,000	Airbnb cash on cash: -0.89% Traditional cash on cash: 3.32% Airbnb Rental Income: $1097 Traditional Rental Income: $2770 Airbnb ROI: -0.89% Traditional ROI: 3.32%
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: -1.61% Traditional cash on cash: 1.88% Airbnb Rental Income: $1097 Traditional Rental Income: $3138 Airbnb ROI: -1.61% 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: -1.37% Traditional cash on cash: 1.07% Airbnb Rental Income: $1185 Traditional Rental Income: $2274 Airbnb ROI: -1.37% Traditional ROI: 1.07%
W Roberts Rd Lake City, MI W Roberts Rd, Lake City, MI 49651 \| Other	N/A beds \| N/A baths \| N/A	$159,900	Airbnb cash on cash: -2.09% Traditional cash on cash: 2.12% Airbnb Rental Income: $416 Traditional Rental Income: $800 Airbnb ROI: -2.09% Traditional ROI: 2.12%
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: -2.03% Traditional cash on cash: 2.76% Airbnb Rental Income: $416 Traditional Rental Income: $800 Airbnb ROI: -2.03% 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	$69,599	Airbnb cash on cash: -1.54% Traditional cash on cash: 7.79% Airbnb Rental Income: $416 Traditional Rental Income: $802 Airbnb ROI: -1.54% Traditional ROI: 7.79%
8320 W Whispering Pine Circle Lake City, MI Located on a peaceful .54-acre lot conveniently located between Cadillac and Lake City, th...	3 beds \| 2 baths \| 1,822 sq.ft.	$214,900	Airbnb cash on cash: 1.11% Traditional cash on cash: 11.58% Airbnb Rental Income: $1028 Traditional Rental Income: $2801 Airbnb ROI: 1.11% Traditional ROI: 11.58%
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: -1.05% Traditional cash on cash: 1.08% Airbnb Rental Income: $1097 Traditional Rental Income: $3496 Airbnb ROI: -1.05% Traditional ROI: 1.08%
1333 W Houghton Lake Road Lake City, MI Welcome to country living less than 5 miles east of Lake City. This 3 bedroom, 2 bath home...	3 beds \| 2 baths \| 1,007 sq.ft.	$144,900	Airbnb cash on cash: 2.68% Traditional cash on cash: 11.59% Airbnb Rental Income: $1028 Traditional Rental Income: $1905 Airbnb ROI: 2.68% Traditional ROI: 11.59%
8299 W Walker Rd Lake City, MI Discover a truly rare opportunity to own 80 pristine wooded acres in Northern Michigan, a ...	2 beds \| 1 baths \| 820 sq.ft.	$529,900	Airbnb cash on cash: N/A Traditional cash on cash: 1.42% Airbnb Rental Income: $null Traditional Rental Income: $1443 Airbnb ROI: N/A Traditional ROI: 1.42%
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.	$619,900	Airbnb cash on cash: -0.75% Traditional cash on cash: 2.97% Airbnb Rental Income: $1028 Traditional Rental Income: $2823 Airbnb ROI: -0.75% Traditional ROI: 2.97%
8251 W Sapphire Lot : 95-99 Lake City, MI 8251 W Sapphire Lot : 95-99 Lot: 95-99, Lake City, MI 49651 \| Single Family Residential	2 beds \| 1 baths \| 816 sq.ft.	$375,000	Airbnb cash on cash: -1.7% Traditional cash on cash: 0.78% Airbnb Rental Income: $698 Traditional Rental Income: $1268 Airbnb ROI: -1.7% Traditional ROI: 0.78%
1550 S Chippewa Lot : 29-32 Lake City, MI 1550 S Chippewa Lot : 29-32, Lake City, MI 49651 \| Single Family Residential	3 beds \| 1 baths \| 1,075 sq.ft.	$220,000	Airbnb cash on cash: 0.19% Traditional cash on cash: 4.86% Airbnb Rental Income: $1028 Traditional Rental Income: $1640 Airbnb ROI: 0.19% Traditional ROI: 4.86%
8355 W Sapphire Lake City, MI 8355 W Sapphire, Lake City, MI 49651 \| Other	N/A beds \| N/A baths \| N/A	$195,000	Airbnb cash on cash: -2.16% Traditional cash on cash: 1.68% Airbnb Rental Income: $416 Traditional Rental Income: $869 Airbnb ROI: -2.16% Traditional ROI: 1.68%
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	$195,000	Airbnb cash on cash: -2.16% Traditional cash on cash: 1.67% Airbnb Rental Income: $416 Traditional Rental Income: $868 Airbnb ROI: -2.16% Traditional ROI: 1.67%
515 S Gladwin Street Lake City, MI Located just one block from Lake Missaukee, this well-maintained 3 bedroom 2 bath ranch pu...	3 beds \| 2 baths \| 1,704 sq.ft.	$294,900	Airbnb cash on cash: 0.36% Traditional cash on cash: 6.39% Airbnb Rental Income: $1028 Traditional Rental Income: $2344 Airbnb ROI: 0.36% Traditional ROI: 6.39%
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: -0.38% Traditional cash on cash: 3.44% Airbnb Rental Income: $1028 Traditional Rental Income: $2524 Airbnb ROI: -0.38% 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: -1.3% Traditional cash on cash: 2.74% Airbnb Rental Income: $1028 Traditional Rental Income: $2558 Airbnb ROI: -1.3% Traditional ROI: 2.74%
1916 S Rose Avenue Lake City, MI Close to beautiful Lake Missaukee, this charming 3-bedroom, 1.5-bath home offers just over...	3 beds \| 2 baths \| 1,313 sq.ft.	$174,900	Airbnb cash on cash: 1.49% Traditional cash on cash: 11.54% Airbnb Rental Income: $1028 Traditional Rental Income: $2343 Airbnb ROI: 1.49% Traditional ROI: 11.54%
2561 E Johnson Road 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: -0.27% Traditional cash on cash: 4.42% Airbnb Rental Income: $1028 Traditional Rental Income: $1862 Airbnb ROI: -0.27% Traditional ROI: 4.42%
5322 S Lachance Rd 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: 0.68% Traditional cash on cash: 7.17% Airbnb Rental Income: $1185 Traditional Rental Income: $2571 Airbnb ROI: 0.68% Traditional ROI: 7.17%

Real Estate investment in Lake-city, MI

There are 46 properties for sale in the city of Lake City . The median list price in Lake City is $279,000 and the average price per square foot is $149. In May 2026, the average monthly cash on cash return in Lake City is 5.00%. The average monthly rental income in Lake City is $1,914.

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

There are 46 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 $1,028.

Your search for investment property begins and ends here

Investment Property for Sale in Lake City, MI

1404 S Taxiway Delta

Lake City, MI

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

$159,900

Airbnb cash on cash: 0.12%

Traditional cash on cash: 10.49%

Airbnb Rental Income: $698

Traditional Rental Income: $1977

Airbnb ROI: 0.12%

Traditional ROI: 10.49%

327 S Gladwin Street

Lake City, MI

2 beds | 2 baths | 1,250 sq.ft.

$159,900

Airbnb cash on cash: -1.46%

Traditional cash on cash: 8.51%

Airbnb Rental Income: $698

Traditional Rental Income: $1914

Airbnb ROI: -1.46%

Traditional ROI: 8.51%

1550 S Chippewa

Lake City, MI

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

$220,000

Airbnb cash on cash: 1.07%

Traditional cash on cash: 3.38%

Airbnb Rental Income: $1028

Traditional Rental Income: $1148

Airbnb ROI: 1.07%

Traditional ROI: 3.38%

407 S Lakeshore Dr

Lake City, MI

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

$449,900

Airbnb cash on cash: -0.54%

Traditional cash on cash: 4.83%

Airbnb Rental Income: $1028

Traditional Rental Income: $2931

Airbnb ROI: -0.54%

Traditional ROI: 4.83%

8251 W Sapphire

Lake City, MI

2 beds | 1 baths | 816 sq.ft.

$375,000

Airbnb cash on cash: -1.38%

Traditional cash on cash: 1.99%

Airbnb Rental Income: $698

Traditional Rental Income: $1576

Airbnb ROI: -1.38%

Traditional ROI: 1.99%

6789 W Redman Dr

Lake City, MI

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

$649,900

Airbnb cash on cash: -1.3%

Traditional cash on cash: 0.69%

Airbnb Rental Income: $1185

Traditional Rental Income: $2003

Airbnb ROI: -1.3%

Traditional ROI: 0.69%

2183 Wenonah Trail

Lake City, MI

3 beds | 1 baths | 868 sq.ft.

$325,000

Airbnb cash on cash: -0.48%

Traditional cash on cash: 1.24%

Airbnb Rental Income: $1028

Traditional Rental Income: $1195

Airbnb ROI: -0.48%

Traditional ROI: 1.24%

259 N Morey Rd

Lake City, MI

3 beds | 2 baths | 1,178 sq.ft.

$249,000

Airbnb cash on cash: 0.79%

Traditional cash on cash: 8.99%

Airbnb Rental Income: $1028

Traditional Rental Income: $2596

Airbnb ROI: 0.79%