Real Estate Investment Properties for Sale in Shepherd, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
8197 S Federal Rd Shepherd, MI This beautifully remodeled, move-in-ready split-level home offers a spacious and versatile...	4 beds \| 1 baths \| 2,042 sq.ft.	$305,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.2% Airbnb Rental Income: $null Traditional Rental Income: $2366 Airbnb ROI: N/A Traditional ROI: 6.2%
308 S 3rd St Shepherd, MI Check out this completely remodeled home in the village of Shepherd, the sweetest little t...	3 beds \| 2 baths \| 3,696 sq.ft.	$375,000	Airbnb cash on cash: 0.86% Traditional cash on cash: 5.61% Airbnb Rental Income: $1363 Traditional Rental Income: $2620 Airbnb ROI: 0.86% Traditional ROI: 5.61%
522 N 2nd St Shepherd, MI Newly remodeled home in the village of Shepherd. Home offers a large kitchen, dining area ...	3 beds \| 2 baths \| 1,600 sq.ft.	$234,900	Airbnb cash on cash: 1.33% Traditional cash on cash: 5.38% Airbnb Rental Income: $1363 Traditional Rental Income: $1848 Airbnb ROI: 1.33% Traditional ROI: 5.38%
5557 E Pleasant Valley Road Shepherd, MI Country living at its best! This immaculately maintained ranch-style home sits on a one-ac...	3 beds \| 2 baths \| 2,240 sq.ft.	$279,900	Airbnb cash on cash: 1.36% Traditional cash on cash: 7.11% Airbnb Rental Income: $1363 Traditional Rental Income: $2465 Airbnb ROI: 1.36% Traditional ROI: 7.11%
429 S Geneva Rd Shepherd, MI Discover this custom 3-bedroom home, your own private riverfront retreat! While it is a Sh...	3 beds \| 1 baths \| 1,691 sq.ft.	$265,000	Airbnb cash on cash: 2.23% Traditional cash on cash: 5.15% Airbnb Rental Income: $1363 Traditional Rental Income: $1677 Airbnb ROI: 2.23% Traditional ROI: 5.15%
99 N Alamando Rd Shepherd, MI If you are looking for QUALITY , look no further than this 3500 square foot custom built h...	4 beds \| 3 baths \| 3,500 sq.ft.	$579,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.73% Airbnb Rental Income: $null Traditional Rental Income: $4302 Airbnb ROI: N/A Traditional ROI: 6.73%
117 E Wright Ave Shepherd, MI Welcome to this magnificently renovated home located in the heart of the charming village ...	3 beds \| 2 baths \| 1,730 sq.ft.	$219,900	Airbnb cash on cash: 2.74% Traditional cash on cash: 9.6% Airbnb Rental Income: $1363 Traditional Rental Income: $2376 Airbnb ROI: 2.74% Traditional ROI: 9.6%
117 E Wright Ave Lot : 32-33 Shepherd, MI 117 E Wright Ave Lot : 32-33, Shepherd, MI 48883 \| Single Family Residential	3 beds \| 2 baths \| 1,820 sq.ft.	$234,500	Airbnb cash on cash: 1.33% Traditional cash on cash: 5.72% Airbnb Rental Income: $1363 Traditional Rental Income: $1919 Airbnb ROI: 1.33% Traditional ROI: 5.72%
S County Line Rd Shepherd, MI S County Line Rd, Shepherd, MI 48883 \| Other	N/A beds \| N/A baths \| N/A	$279,000	Airbnb cash on cash: N/A Traditional cash on cash: -0.83% Airbnb Rental Income: $null Traditional Rental Income: $537 Airbnb ROI: N/A Traditional ROI: -0.83%
3100 W Isabella Rd Shepherd, MI 3100 W Isabella Rd, Shepherd, MI 48883 \| Other	N/A beds \| N/A baths \| N/A	$98,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.12% Airbnb Rental Income: $null Traditional Rental Income: $537 Airbnb ROI: N/A Traditional ROI: 2.12%
3250 W Isabella Rd Shepherd, MI 3250 W Isabella Rd, Shepherd, MI 48883 \| Other	N/A beds \| N/A baths \| N/A	$98,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.12% Airbnb Rental Income: $null Traditional Rental Income: $537 Airbnb ROI: N/A Traditional ROI: 2.12%
5437 W ISABELLA Rd Shepherd, MI 5437 W Isabella Rd, Shepherd, MI 48883 \| Other	N/A beds \| N/A baths \| N/A	$44,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.15% Airbnb Rental Income: $null Traditional Rental Income: $537 Airbnb ROI: N/A Traditional ROI: 7.15%
323 W Wright Avenue Shepherd, MI Rare Historic Multi-Family Opportunity in a prime Main Street location! Built by the origi...	N/A beds \| 4 baths \| 5,000 sq.ft.	$489,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.66% Airbnb Rental Income: $null Traditional Rental Income: $1550 Airbnb ROI: N/A Traditional ROI: 0.66%
8746 S Shepherd Rd Shepherd, MI Welcome home to this beautifully maintained 3-bedroom, 2-bath home offering over 1,260 squ...	3 beds \| 2 baths \| 1,260 sq.ft.	$179,900	Airbnb cash on cash: 3.33% Traditional cash on cash: 8.73% Airbnb Rental Income: $1363 Traditional Rental Income: $1872 Airbnb ROI: 3.33% Traditional ROI: 8.73%
11571 E Deerfield Rd Shepherd, MI 11571 E Deerfield Rd, Shepherd, MI 48883 \| Other	N/A beds \| N/A baths \| N/A	$49,995	Airbnb cash on cash: N/A Traditional cash on cash: 8.34% Airbnb Rental Income: $null Traditional Rental Income: $643 Airbnb ROI: N/A Traditional ROI: 8.34%
8611 S Wise Shepherd, MI Rarely does an opportunity like this come to market. Whether you're envisioning a thriving...	5 beds \| 3 baths \| 2,352 sq.ft.	$245,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.87% Airbnb Rental Income: $null Traditional Rental Income: $2853 Airbnb ROI: N/A Traditional ROI: 9.87%
8941 S Mission Road Shepherd, MI Enjoy this unique, well-maintained property that includes both a home and apartment situat...	N/A beds \| N/A baths \| 2,400 sq.ft.	$329,000	Airbnb cash on cash: N/A Traditional cash on cash: 4% Airbnb Rental Income: $null Traditional Rental Income: $1916 Airbnb ROI: N/A Traditional ROI: 4%
133 S Magruder Rd Shepherd, MI 133 S Magruder Rd, Shepherd, MI 48883 \| Single Family Residential	4 beds \| 2 baths \| 816 sq.ft.	$249,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.3% Airbnb Rental Income: $null Traditional Rental Income: $2175 Airbnb ROI: N/A Traditional ROI: 6.3%
7898 E Broomfield Road Shepherd, MI Welcome to this beautifully updated, 3-bedroom home boasting nearly 1300 square feet of li...	3 beds \| 1 baths \| 1,340 sq.ft.	$279,000	Airbnb cash on cash: 1.59% Traditional cash on cash: 4.18% Airbnb Rental Income: $1363 Traditional Rental Income: $1628 Airbnb ROI: 1.59% Traditional ROI: 4.18%
8800 Golfside Ct Shepherd, MI Tucked into a beautifully wooded setting, this spacious tri-level home offers privacy, cha...	3 beds \| 2 baths \| 1,579 sq.ft.	$299,900	Airbnb cash on cash: 0.99% Traditional cash on cash: 5.07% Airbnb Rental Income: $1363 Traditional Rental Income: $2100 Airbnb ROI: 0.99% Traditional ROI: 5.07%
1156 S Alamando Rd Shepherd, MI 1156 S Alamando Rd, Shepherd, MI 48883 \| Single Family Residential	3 beds \| 2 baths \| 1,705 sq.ft.	$235,000	Airbnb cash on cash: 1.32% Traditional cash on cash: 6% Airbnb Rental Income: $1363 Traditional Rental Income: $1986 Airbnb ROI: 1.32% Traditional ROI: 6%
5280 S East County Line Rd Shepherd, MI 5280 S East County Line Rd, Shepherd, MI 48883 \| Single Family Residential	3 beds \| 2 baths \| 1,673 sq.ft.	$425,000	Airbnb cash on cash: -0.38% Traditional cash on cash: 2.15% Airbnb Rental Income: $1363 Traditional Rental Income: $1955 Airbnb ROI: -0.38% Traditional ROI: 2.15%
3988 W Isabella Rd Shepherd, MI 3988 W Isabella Rd, Shepherd, MI 48883 \| Multi Family	N/A beds \| N/A baths \| 990 sq.ft.	$180,000	Airbnb cash on cash: 2.47% Traditional cash on cash: 0.77% Airbnb Rental Income: $1363 Traditional Rental Income: $655 Airbnb ROI: 2.47% Traditional ROI: 0.77%
436 N Chippewa Shepherd, MI 436 N Chippewa, Shepherd, MI 48883 \| Single Family Residential	3 beds \| 1 baths \| 1,100 sq.ft.	$225,000	Airbnb cash on cash: 1.49% Traditional cash on cash: 3.53% Airbnb Rental Income: $1363 Traditional Rental Income: $1381 Airbnb ROI: 1.49% Traditional ROI: 3.53%
10150 S Leaton Rd Shepherd, MI 10150 S Leaton Rd, Shepherd, MI 48883 \| Single Family Residential	3 beds \| 2 baths \| 2,228 sq.ft.	$289,900	Airbnb cash on cash: 0.61% Traditional cash on cash: 4.69% Airbnb Rental Income: $1363 Traditional Rental Income: $2061 Airbnb ROI: 0.61% Traditional ROI: 4.69%
5277 S Wise Rd Shepherd, MI 5277 S Wise Rd, Shepherd, MI 48883 \| Single Family Residential	4 beds \| 2 baths \| 2,700 sq.ft.	$474,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.24% Airbnb Rental Income: $null Traditional Rental Income: $2657 Airbnb ROI: N/A Traditional ROI: 3.24%
11256 E Millbrook Rd Shepherd, MI 11256 E Millbrook Rd, Shepherd, MI 48883 \| Single Family Residential	3 beds \| 3 baths \| 3,180 sq.ft.	$499,000	Airbnb cash on cash: -0.7% Traditional cash on cash: 2.7% Airbnb Rental Income: $1363 Traditional Rental Income: $2533 Airbnb ROI: -0.7% Traditional ROI: 2.7%
9644 E Deerfield Rd Shepherd, MI 9644 E Deerfield Rd, Shepherd, MI 48883 \| Single Family Residential	4 beds \| 2 baths \| 4,800 sq.ft.	$749,900	Airbnb cash on cash: N/A Traditional cash on cash: 0.2% Airbnb Rental Income: $null Traditional Rental Income: $1998 Airbnb ROI: N/A Traditional ROI: 0.2%
333 N Chippewa Shepherd, MI 333 N Chippewa, Shepherd, MI 48883 \| Single Family Residential	3 beds \| 1 baths \| 2,160 sq.ft.	$230,000	Airbnb cash on cash: 1.41% Traditional cash on cash: 3.6% Airbnb Rental Income: $1363 Traditional Rental Income: $1424 Airbnb ROI: 1.41% Traditional ROI: 3.6%
4812 SE County Line Rd Shepherd, MI 4812 SE County Line Rd, Shepherd, MI 48883 \| Single Family Residential	5 beds \| 2 baths \| 3,024 sq.ft.	$315,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.67% Airbnb Rental Income: $null Traditional Rental Income: $2520 Airbnb ROI: N/A Traditional ROI: 5.67%
587 N Lewis Shepherd, MI 587 N Lewis, Shepherd, MI 48883 \| Single Family Residential	3 beds \| 2 baths \| 1,644 sq.ft.	$375,000	Airbnb cash on cash: -0.1% Traditional cash on cash: 2.7% Airbnb Rental Income: $1363 Traditional Rental Income: $1931 Airbnb ROI: -0.1% Traditional ROI: 2.7%
311 S Castor Rd Shepherd, MI 311 S Castor Rd, Shepherd, MI 48883 \| Other	N/A beds \| N/A baths \| N/A	$299,900	Airbnb cash on cash: N/A Traditional cash on cash: -0.51% Airbnb Rental Income: $null Traditional Rental Income: $661 Airbnb ROI: N/A Traditional ROI: -0.51%

Real Estate investment in Shepherd, MI

There are 40 properties for sale in the city of Shepherd . The median list price in Shepherd is $212,873 and the average price per square foot is $108. In October 2026, the average monthly cash on cash return in Shepherd is 6.00%. The average monthly rental income in Shepherd is $1,872.

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

There are 40 investment properties available for sale in Shepherd.

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

The ROI for Long-Term is higher than the Short-Term in Shepherd with average rental income of $1,872.

Your search for investment property begins and ends here

Investment Property for Sale in Shepherd, MI

8197 S Federal Rd

Shepherd, MI

4 beds | 1 baths | 2,042 sq.ft.

$305,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.2%

Airbnb Rental Income: $null

Traditional Rental Income: $2366

Airbnb ROI: N/A

Traditional ROI: 6.2%

308 S 3rd St

Shepherd, MI

3 beds | 2 baths | 3,696 sq.ft.

$375,000

Airbnb cash on cash: 0.86%

Traditional cash on cash: 5.61%

Airbnb Rental Income: $1363

Traditional Rental Income: $2620

Airbnb ROI: 0.86%

Traditional ROI: 5.61%

522 N 2nd St

Shepherd, MI

3 beds | 2 baths | 1,600 sq.ft.

$234,900

Airbnb cash on cash: 1.33%

Traditional cash on cash: 5.38%

Airbnb Rental Income: $1363

Traditional Rental Income: $1848

Airbnb ROI: 1.33%

Traditional ROI: 5.38%

5557 E Pleasant Valley Road

Shepherd, MI

3 beds | 2 baths | 2,240 sq.ft.

$279,900

Airbnb cash on cash: 1.36%

Traditional cash on cash: 7.11%

Airbnb Rental Income: $1363

Traditional Rental Income: $2465

Airbnb ROI: 1.36%

Traditional ROI: 7.11%

429 S Geneva Rd

Shepherd, MI

3 beds | 1 baths | 1,691 sq.ft.

$265,000

Airbnb cash on cash: 2.23%

Traditional cash on cash: 5.15%

Airbnb Rental Income: $1363

Traditional Rental Income: $1677

Airbnb ROI: 2.23%

Traditional ROI: 5.15%

99 N Alamando Rd

Shepherd, MI

4 beds | 3 baths | 3,500 sq.ft.

$579,900

Airbnb cash on cash: N/A

Traditional cash on cash: 6.73%

Airbnb Rental Income: $null

Traditional Rental Income: $4302

Airbnb ROI: N/A

Traditional ROI: 6.73%

117 E Wright Ave

Shepherd, MI

3 beds | 2 baths | 1,730 sq.ft.

$219,900

Airbnb cash on cash: 2.74%

Traditional cash on cash: 9.6%

Airbnb Rental Income: $1363

Traditional Rental Income: $2376

Airbnb ROI: 2.74%

Traditional ROI: 9.6%

117 E Wright Ave Lot : 32-33

Shepherd, MI

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

$234,500

Airbnb cash on cash: 1.33%

Traditional cash on cash: 5.72%

Airbnb Rental Income: $1363

Traditional Rental Income: $1919

Airbnb ROI: 1.33%