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 Court 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.	$149,900	Airbnb cash on cash: 0.94% Traditional cash on cash: 5.43% Airbnb Rental Income: $876 Traditional Rental Income: $1186 Airbnb ROI: 0.94% Traditional ROI: 5.43%
303 Wolfe Luther, MI Northern Michigan Adventure Awaits in Luther! This charming 3 bedroom, 1 bath home in Lut...	3 beds \| 1 baths \| 1,507 sq.ft.	$194,900	Airbnb cash on cash: 0.22% Traditional cash on cash: 7.74% Airbnb Rental Income: $876 Traditional Rental Income: $1933 Airbnb ROI: 0.22% Traditional ROI: 7.74%
201 Birch Street 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.	$140,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.22% Airbnb Rental Income: $null Traditional Rental Income: $1244 Airbnb ROI: N/A Traditional ROI: 6.22%
1255 E Chickadee Lane Luther, MI Back On The Market, unfortunately we lost our buyer do to unforeseen health issues just be...	3 beds \| 3 baths \| 2,800 sq.ft.	$269,900	Airbnb cash on cash: 0.44% Traditional cash on cash: 11.9% Airbnb Rental Income: $876 Traditional Rental Income: $3460 Airbnb ROI: 0.44% Traditional ROI: 11.9%
3943 N Skookum Road Luther, MI Unique 670-acre private campus property in Northern Michigan offering a rare opportunity f...	N/A beds \| N/A 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	$299,800	Airbnb cash on cash: N/A Traditional cash on cash: -0.02% Airbnb Rental Income: $null Traditional Rental Income: $800 Airbnb ROI: N/A Traditional ROI: -0.02%
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	$199,900	Airbnb cash on cash: N/A Traditional cash on cash: 1.21% Airbnb Rental Income: $null Traditional Rental Income: $800 Airbnb ROI: N/A Traditional ROI: 1.21%
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%
10978 E Eight Mile Road Luther, MI Versatile two-story commercial building offering a unique opportunity for a variety of fut...	N/A beds \| N/A baths \| 2,788 sq.ft.	$129,000	Airbnb cash on cash: N/A Traditional cash on cash: 10.48% Airbnb Rental Income: $null Traditional Rental Income: $1705 Airbnb ROI: N/A Traditional ROI: 10.48%
9239 E Eight Mile Road Luther, MI Rare opportunity to own a168 acre hospitality business directly across from the Manistee N...	N/A beds \| N/A baths \| 4,200 sq.ft.	$1,189,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.3% Airbnb Rental Income: $null Traditional Rental Income: $1568 Airbnb ROI: N/A Traditional ROI: 0.3%
4395 N Raymond Road Luther, MI Tucked back off the paved road on 14.35 acres, this property feels like a world away. Idea...	3 beds \| 3 baths \| 1,949 sq.ft.	$430,000	Airbnb cash on cash: -0.82% Traditional cash on cash: 4.59% Airbnb Rental Income: $876 Traditional Rental Income: $2719 Airbnb ROI: -0.82% Traditional ROI: 4.59%
10319 E 4 1/2 Mile Road Luther, MI Welcome to this one-owner ranch home nestled on 5 beautiful wooded acres. This well-mainta...	3 beds \| 3 baths \| 2,498 sq.ft.	$385,000	Airbnb cash on cash: -0.19% Traditional cash on cash: 6.67% Airbnb Rental Income: $876 Traditional Rental Income: $3018 Airbnb ROI: -0.19% Traditional ROI: 6.67%
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%

Real Estate investment in Luther, MI

There are 15 properties for sale in the city of Luther . The median list price in Luther is $194,900 and the average price per square foot is $59. In April 2026, the average monthly cash on cash return in Luther is 6.00%. The average monthly rental income in Luther is $1,526.

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

There are 15 investment properties available for sale in Luther.

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

The ROI for Short-Term is higher than the Long-Term in Luther with average rental income of $876.

Your search for investment property begins and ends here

Investment Property for Sale in Luther, MI

5423 N Karley Court

Luther, MI

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

$149,900

Airbnb cash on cash: 0.94%

Traditional cash on cash: 5.43%

Airbnb Rental Income: $876

Traditional Rental Income: $1186

Airbnb ROI: 0.94%

Traditional ROI: 5.43%

303 Wolfe

Luther, MI

3 beds | 1 baths | 1,507 sq.ft.

$194,900

Airbnb cash on cash: 0.22%

Traditional cash on cash: 7.74%

Airbnb Rental Income: $876

Traditional Rental Income: $1933

Airbnb ROI: 0.22%

Traditional ROI: 7.74%

201 Birch Street

Luther, MI

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

$140,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.22%

Airbnb Rental Income: $null

Traditional Rental Income: $1244

Airbnb ROI: N/A

Traditional ROI: 6.22%

1255 E Chickadee Lane

Luther, MI

3 beds | 3 baths | 2,800 sq.ft.

$269,900

Airbnb cash on cash: 0.44%

Traditional cash on cash: 11.9%

Airbnb Rental Income: $876

Traditional Rental Income: $3460

Airbnb ROI: 0.44%

Traditional ROI: 11.9%

3943 N Skookum Road

Luther, MI

N/A beds | N/A 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

N/A beds | N/A baths | N/A

$299,800

Airbnb cash on cash: N/A

Traditional cash on cash: -0.02%

Airbnb Rental Income: $null

Traditional Rental Income: $800

Airbnb ROI: N/A

Traditional ROI: -0.02%

646 W 3 Mile Rd

Luther, MI

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

N/A beds | N/A baths | N/A

$199,900

Airbnb cash on cash: N/A

Traditional cash on cash: 1.21%

Airbnb Rental Income: $null

Traditional Rental Income: $800

Airbnb ROI: N/A