Real Estate Investment Properties for Sale in Luther, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
5423 N Karley Ct Luther, MI Escape to this beautiful Pine River retreat featuring 2.5 lots and approximately 170 feet ...	3 beds \| 1 baths \| 1,216 sq.ft.	$143,500	Airbnb cash on cash: 3.48% Traditional cash on cash: 5.71% Airbnb Rental Income: $1282 Traditional Rental Income: $1186 Airbnb ROI: 3.48% Traditional ROI: 5.71%
201 Birch St Luther, MI 4 BEDROOM HOME WITH A 2 CAR GARAGE ON A LARGE CORNER LOT - COME CHECK IT OUT!	4 beds \| 1 baths \| 1,400 sq.ft.	$133,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.59% Airbnb Rental Income: $null Traditional Rental Income: $1244 Airbnb ROI: N/A Traditional ROI: 6.59%
10978 E 8 Mile Rd Luther, MI Own a Piece of History--The 1887 Bristol Township Hall \| 3,100 SF \| $99,000 A rare chance ...	1 beds \| N/A baths \| 3,100 sq.ft.	$99,000	Airbnb cash on cash: -3.63% Traditional cash on cash: 4.45% Airbnb Rental Income: $237 Traditional Rental Income: $786 Airbnb ROI: -3.63% Traditional ROI: 4.45%
603 River St Luther, MI This charming 3 bedroom, 1.5 bathroom home offers comfort, space, and small town charm all...	3 beds \| 1 baths \| 1,511 sq.ft.	$219,000	Airbnb cash on cash: 2.06% Traditional cash on cash: 10.01% Airbnb Rental Income: $1282 Traditional Rental Income: $2530 Airbnb ROI: 2.06% Traditional ROI: 10.01%
9236 E Old M 63 Luther, MI Welcome to the real world in the middle of everywhere. Enjoy the rural living while being ...	3 beds \| 3 baths \| 3,100 sq.ft.	$558,500	Airbnb cash on cash: -0.69% Traditional cash on cash: 3.24% Airbnb Rental Income: $1282 Traditional Rental Income: $2926 Airbnb ROI: -0.69% Traditional ROI: 3.24%
408 Garfield St Luther, MI This home has been so well cared for and is an incredible value! Warm, cozy, and full of c...	2 beds \| 3 baths \| 1,820 sq.ft.	$199,900	Airbnb cash on cash: N/A Traditional cash on cash: 10.74% Airbnb Rental Income: $null Traditional Rental Income: $2566 Airbnb ROI: N/A Traditional ROI: 10.74%
7 W 4 Mile Rd Luther, MI A Rare Little Manistee River Retreat This property offers an extraordinary lifestyle that ...	5 beds \| 2 baths \| 2,339 sq.ft.	$509,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.57% Airbnb Rental Income: $null Traditional Rental Income: $2973 Airbnb ROI: N/A Traditional ROI: 4.57%
3943 N Skookum Rd Luther, MI Unique 670-acre private campus property in Northern Michigan offering a rare opportunity f...	26 beds \| 19 baths \| 22,755 sq.ft.	$6,200,000	Airbnb cash on cash: N/A Traditional cash on cash: -2.22% Airbnb Rental Income: $null Traditional Rental Income: $1894 Airbnb ROI: N/A Traditional ROI: -2.22%
2957 N State Rd Luther, MI 2957 N State Rd, Luther, MI 49656 \| Other	N/A beds \| N/A baths \| N/A	$275,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.21% Airbnb Rental Income: $null Traditional Rental Income: $800 Airbnb ROI: N/A Traditional ROI: 0.21%
646 W 3 Mile Rd Luther, MI 646 W 3 Mile Rd, Luther, MI 49656 \| Other	N/A beds \| N/A baths \| N/A	$70,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.7% Airbnb Rental Income: $null Traditional Rental Income: $800 Airbnb ROI: N/A Traditional ROI: 7.7%
VL 3 Mile Rd Luther, MI VL 3 Mile Rd, Luther, MI 49656 \| Other	N/A beds \| N/A baths \| N/A	$180,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.61% Airbnb Rental Income: $null Traditional Rental Income: $800 Airbnb ROI: N/A Traditional ROI: 1.61%
V/L 67A E Old M-63 Luther, MI V/L 67A E Old M-63, Luther, MI 49656 \| Other	N/A beds \| N/A baths \| N/A	$470,000	Airbnb cash on cash: N/A Traditional cash on cash: -0.81% Airbnb Rental Income: $null Traditional Rental Income: $848 Airbnb ROI: N/A Traditional ROI: -0.81%
9239 E 8 Mile Rd Luther, MI Turnkey Hospitality Business on 50 Wooded acres. A rare opportunity to own an established,...	2 beds \| 1 baths \| 1,195 sq.ft.	$589,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.04% Airbnb Rental Income: $null Traditional Rental Income: $1853 Airbnb ROI: N/A Traditional ROI: 1.04%
4395 N Raymond Rd Luther, MI Tucked back from a paved road on 14.35 acres, this property is the kind of Northern Michig...	3 beds \| 2 baths \| 1,949 sq.ft.	$410,000	Airbnb cash on cash: 0.07% Traditional cash on cash: 4.86% Airbnb Rental Income: $1282 Traditional Rental Income: $2719 Airbnb ROI: 0.07% Traditional ROI: 4.86%
VL E Alpine Luther, MI VL E Alpine, Luther, MI 49656 \| Other	N/A beds \| N/A baths \| N/A	$69,900	Airbnb cash on cash: N/A Traditional cash on cash: 9% Airbnb Rental Income: $null Traditional Rental Income: $890 Airbnb ROI: N/A Traditional ROI: 9%
10976 E 3 Mile Rd Luther, MI Welcome home to this beautiful single-level retreat set on 25 mostly wooded acres, offerin...	3 beds \| 1 baths \| 1,320 sq.ft.	$299,000	Airbnb cash on cash: 1.02% Traditional cash on cash: 4.44% Airbnb Rental Income: $1282 Traditional Rental Income: $1841 Airbnb ROI: 1.02% Traditional ROI: 4.44%
A & B Old M-63 Luther, MI A & B Old M-63, Luther, MI 49656 \| Other	N/A beds \| N/A baths \| N/A	$75,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.45% Airbnb Rental Income: $null Traditional Rental Income: $903 Airbnb ROI: N/A Traditional ROI: 8.45%
201 State St Luther, MI Discover the Northern Michigan lifestyle that continues to attract outdoor enthusiasts, en...	2 beds \| 1 baths \| 2,590 sq.ft.	$246,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.98% Airbnb Rental Income: $null Traditional Rental Income: $2277 Airbnb ROI: N/A Traditional ROI: 7.98%
382 W Morgan Dr Luther, MI Secluded northern retreat, on the Little Manistee River, with over 700 ' frontage. Main le...	2 beds \| 1 baths \| 1,019 sq.ft.	$265,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.69% Airbnb Rental Income: $null Traditional Rental Income: $1741 Airbnb ROI: N/A Traditional ROI: 4.69%
8851 E 8 Mile Rd Luther, MI Discover the perfect year-round getaway fully updated in 2023. 5-bedroom, 2-bath cabin on ...	5 beds \| 2 baths \| 2,224 sq.ft.	$415,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.63% Airbnb Rental Income: $null Traditional Rental Income: $2722 Airbnb ROI: N/A Traditional ROI: 4.63%
321 W Runway Dr Luther, MI 321 W Runway Dr, Luther, MI 49656 \| Other	N/A beds \| N/A baths \| N/A	$69,900	Airbnb cash on cash: N/A Traditional cash on cash: 9.32% Airbnb Rental Income: $null Traditional Rental Income: $912 Airbnb ROI: N/A Traditional ROI: 9.32%
V/L E 8 Mile Rd Luther, MI V/L E 8 Mile Rd, Luther, MI 49656 \| Other	N/A beds \| N/A baths \| N/A	$115,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.87% Airbnb Rental Income: $null Traditional Rental Income: $912 Airbnb ROI: N/A Traditional ROI: 4.87%
141 W 4 Mile Road Luther, MI Escape to the tranquility of the Little Manistee River with this charming waterfront retre...	1 beds \| 1 baths \| 500 sq.ft.	$159,900	Airbnb cash on cash: -2.36% Traditional cash on cash: 6.19% Airbnb Rental Income: $237 Traditional Rental Income: $1314 Airbnb ROI: -2.36% Traditional ROI: 6.19%
815 E State St Luther, MI Nice location in East Tawas! This home has been totally remodeled, down to the studs. It's...	3 beds \| 1 baths \| 1,253 sq.ft.	$219,000	Airbnb cash on cash: 1.59% Traditional cash on cash: 6.29% Airbnb Rental Income: $1282 Traditional Rental Income: $1854 Airbnb ROI: 1.59% Traditional ROI: 6.29%

Real Estate investment in Luther, MI

There are 25 properties for sale in the city of Luther . The median list price in Luther is $119,828 and the average price per square foot is $50. In July 2026, the average monthly cash on cash return in Luther is 7.00%. The average monthly rental income in Luther is $1,619.

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

There are 25 investment properties available for sale in Luther.

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

The ROI for Long-Term is higher than the Short-Term in Luther with average rental income of $1,619.

Your search for investment property begins and ends here

Investment Property for Sale in Luther, MI

5423 N Karley Ct

Luther, MI

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

$143,500

Airbnb cash on cash: 3.48%

Traditional cash on cash: 5.71%

Airbnb Rental Income: $1282

Traditional Rental Income: $1186

Airbnb ROI: 3.48%

Traditional ROI: 5.71%

201 Birch St

Luther, MI

4 beds | 1 baths | 1,400 sq.ft.

$133,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.59%

Airbnb Rental Income: $null

Traditional Rental Income: $1244

Airbnb ROI: N/A

Traditional ROI: 6.59%

10978 E 8 Mile Rd

Luther, MI

1 beds | N/A baths | 3,100 sq.ft.

$99,000

Airbnb cash on cash: -3.63%

Traditional cash on cash: 4.45%

Airbnb Rental Income: $237

Traditional Rental Income: $786

Airbnb ROI: -3.63%

Traditional ROI: 4.45%

603 River St

Luther, MI

3 beds | 1 baths | 1,511 sq.ft.

$219,000

Airbnb cash on cash: 2.06%

Traditional cash on cash: 10.01%

Airbnb Rental Income: $1282

Traditional Rental Income: $2530

Airbnb ROI: 2.06%

Traditional ROI: 10.01%

9236 E Old M 63

Luther, MI

3 beds | 3 baths | 3,100 sq.ft.

$558,500

Airbnb cash on cash: -0.69%

Traditional cash on cash: 3.24%

Airbnb Rental Income: $1282

Traditional Rental Income: $2926

Airbnb ROI: -0.69%

Traditional ROI: 3.24%

408 Garfield St

Luther, MI

2 beds | 3 baths | 1,820 sq.ft.

$199,900

Airbnb cash on cash: N/A

Traditional cash on cash: 10.74%

Airbnb Rental Income: $null

Traditional Rental Income: $2566

Airbnb ROI: N/A

Traditional ROI: 10.74%

7 W 4 Mile Rd

Luther, MI

5 beds | 2 baths | 2,339 sq.ft.

$509,000

Airbnb cash on cash: N/A

Traditional cash on cash: 4.57%

Airbnb Rental Income: $null

Traditional Rental Income: $2973

Airbnb ROI: N/A

Traditional ROI: 4.57%

3943 N Skookum Rd

Luther, MI

26 beds | 19 baths | 22,755 sq.ft.

$6,200,000

Airbnb cash on cash: N/A

Traditional cash on cash: -2.22%

Airbnb Rental Income: $null

Traditional Rental Income: $1894

Airbnb ROI: N/A