Real Estate Investment Properties for Sale in Shell Lake, WI

Looking for investment property in Shell Lake, WI with high ROI ?

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

separator

PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
23605 Bashaw Trl Shell Lake, WI Gorgeous, Bashaw Lake home or cabin, with many, many updates. Awesome fishing on Bashaw L...	2 beds \| 1 baths \| 841 sq.ft.	$235,900	Airbnb cash on cash: 3.79% Traditional cash on cash: 3.77% Airbnb Rental Income: $1703 Traditional Rental Income: $1224 Airbnb ROI: 3.79% Traditional ROI: 3.77%
301 Old County D Shell Lake, WI Come take a look at this great country home in Shell Lake, Wisconsin. This 4-bedroom, 2-ba...	4 beds \| 2 baths \| 1,921 sq.ft.	$295,000	Airbnb cash on cash: 3.95% Traditional cash on cash: 4.75% Airbnb Rental Income: $2305 Traditional Rental Income: $1954 Airbnb ROI: 3.95% Traditional ROI: 4.75%
111 Reinhart Dr Shell Lake, WI Don't miss this spacious and well-maintained 3 BR/2 BA home offering 2,520 square feet of ...	3 beds \| 2 baths \| 2,292 sq.ft.	$362,900	Airbnb cash on cash: 3.52% Traditional cash on cash: 5.37% Airbnb Rental Income: $2549 Traditional Rental Income: $2566 Airbnb ROI: 3.52% Traditional ROI: 5.37%
1339 S Lake Dr Shell Lake, WI This property offers a rare 200 feet of natural frontage on one of Wisconsin's premier cle...	1 beds \| 1 baths \| 892 sq.ft.	$699,900	Airbnb cash on cash: N/A Traditional cash on cash: -0.55% Airbnb Rental Income: $null Traditional Rental Income: $1468 Airbnb ROI: N/A Traditional ROI: -0.55%
316 Wennerberg Shore Dr Shell Lake, WI Escape to Round Lake with this charming cabin set on 2.5 acres across two parcels, offerin...	1 beds \| N/A baths \| 426 sq.ft.	$189,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.73% Airbnb Rental Income: $null Traditional Rental Income: $1181 Airbnb ROI: N/A Traditional ROI: 4.73%
N3328 New Knapp Rd Shell Lake, WI Essentially new country home!! Check out this beautifully remodeled home nestled on a priv...	2 beds \| 1 baths \| 1,125 sq.ft.	$229,900	Airbnb cash on cash: 3.99% Traditional cash on cash: 5.27% Airbnb Rental Income: $1703 Traditional Rental Income: $1508 Airbnb ROI: 3.99% Traditional ROI: 5.27%
N4433 Forest Creek Drive Shell Lake, WI Welcome to your private retreat! Nestled on over 6 acres in the desirable Spooner School D...	4 beds \| 3 baths \| 3,725 sq.ft.	$474,900	Airbnb cash on cash: 1.73% Traditional cash on cash: 4.48% Airbnb Rental Income: $2305 Traditional Rental Income: $2952 Airbnb ROI: 1.73% Traditional ROI: 4.48%
N2991 Sunset Dr Shell Lake, WI	1 beds \| 1 baths \| 900 sq.ft.	$215,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.66% Airbnb Rental Income: $null Traditional Rental Income: $1209 Airbnb ROI: N/A Traditional ROI: 2.66%
N3260 Starkey Lake Rd Shell Lake, WI N3260 Starkey Lake Rd, Shell Lake, WI 54871 \| Single Family Residential	1 beds \| 1 baths \| 650 sq.ft.	$379,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.7% Airbnb Rental Income: $null Traditional Rental Income: $1347 Airbnb ROI: N/A Traditional ROI: 0.7%
1230 S Lake Drive Shell Lake, WI Set on a beautifully wooded 1.5+ acre lot directly across from premier Shell Lake, this au...	2 beds \| 2 baths \| 2,428 sq.ft.	$389,900	Airbnb cash on cash: 1.29% Traditional cash on cash: 4.25% Airbnb Rental Income: $1703 Traditional Rental Income: $2311 Airbnb ROI: 1.29% Traditional ROI: 4.25%
9 4th Ave Shell Lake, WI This historic Victorian home boasts breathtaking views of the pristine Shell Lake, represe...	4 beds \| 2 baths \| 3,425 sq.ft.	$324,900	Airbnb cash on cash: 3.68% Traditional cash on cash: 6.42% Airbnb Rental Income: $2305 Traditional Rental Income: $2569 Airbnb ROI: 3.68% Traditional ROI: 6.42%
1893 Hilltop Rd Shell Lake, WI 1893 Hilltop Rd, Shell Lake, WI 54871 \| Single Family Residential	4 beds \| 2 baths \| 2,584 sq.ft.	$579,000	Airbnb cash on cash: 0.19% Traditional cash on cash: 1.53% Airbnb Rental Income: $2305 Traditional Rental Income: $2455 Airbnb ROI: 0.19% Traditional ROI: 1.53%
N3261 Starkey Lake Rd Shell Lake, WI N3261 Starkey Lake Rd, Shell Lake, WI 54871 \| Single Family Residential	3 beds \| 2 baths \| 2,360 sq.ft.	$499,900	Airbnb cash on cash: 1.11% Traditional cash on cash: 2.57% Airbnb Rental Income: $2549 Traditional Rental Income: $2618 Airbnb ROI: 1.11% Traditional ROI: 2.57%
24493 County Road X Shell Lake, WI Northwoods Paradise! Darling 2 bedroom year round home or retreat. Tucked away on a privat...	2 beds \| 1 baths \| 1,416 sq.ft.	$599,900	Airbnb cash on cash: 0.45% Traditional cash on cash: 1.47% Airbnb Rental Income: $1703 Traditional Rental Income: $1802 Airbnb ROI: 0.45% Traditional ROI: 1.47%
303 E Lake Dr Shell Lake, WI 303 E Lake Dr, Shell Lake, WI 54871 \| Single Family Residential	2 beds \| 2 baths \| 1,008 sq.ft.	$585,000	Airbnb cash on cash: -0.75% Traditional cash on cash: -0.2% Airbnb Rental Income: $1703 Traditional Rental Income: $1531 Airbnb ROI: -0.75% Traditional ROI: -0.2%
N3410 Rolling Pines Ln Shell Lake, WI N3410 Rolling Pines Ln, Shell Lake, WI 54871 \| Single Family Residential	2 beds \| 1 baths \| 1,120 sq.ft.	$155,000	Airbnb cash on cash: 4.87% Traditional cash on cash: 5.98% Airbnb Rental Income: $1703 Traditional Rental Income: $1396 Airbnb ROI: 4.87% Traditional ROI: 5.98%
316 Wennenberg Shore Dr Shell Lake, WI 316 Wennenberg Shore Dr, Shell Lake, WI 54871 \| Single Family Residential	1 beds \| N/A baths \| 426 sq.ft.	$189,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.42% Airbnb Rental Income: $null Traditional Rental Income: $854 Airbnb ROI: N/A Traditional ROI: 1.42%
3040 Bashaw Lake Rd Shell Lake, WI 3040 Bashaw Lake Rd, Shell Lake, WI 54871 \| Other	N/A beds \| N/A baths \| N/A	$105,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.74% Airbnb Rental Income: $null Traditional Rental Income: $861 Airbnb ROI: N/A Traditional ROI: 4.74%
N2579 Willow Trl Shell Lake, WI N2579 Willow Trl, Shell Lake, WI 54871 \| Single Family Residential	3 beds \| 1 baths \| 1,221 sq.ft.	$275,000	Airbnb cash on cash: 4.28% Traditional cash on cash: 3.11% Airbnb Rental Income: $2549 Traditional Rental Income: $1631 Airbnb ROI: 4.28% Traditional ROI: 3.11%
318 Wennenberg Shore Dr Shell Lake, WI 318 Wennenberg Shore Dr, Shell Lake, WI 54871 \| Single Family Residential	2 beds \| 1 baths \| 1,516 sq.ft.	$480,000	Airbnb cash on cash: -0.3% Traditional cash on cash: 0.62% Airbnb Rental Income: $1703 Traditional Rental Income: $1643 Airbnb ROI: -0.3% Traditional ROI: 0.62%

Real Estate investment in Shell-lake, WI

There are 24 properties for sale in the city of Shell Lake . The median list price in Shell Lake is $148,311 and the average price per square foot is $80. In September 2026, the average monthly cash on cash return in Shell Lake is 2.00%. The average monthly rental income in Shell Lake is $1,432.

Shell-lake, WI Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 24 investment properties available for sale in Shell-lake.

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

The ROI for Long-Term is higher than the Short-Term in Shell-lake with average rental income of $1,432.

Your search for investment property begins and ends here

Investment Property for Sale in Shell Lake, WI

23605 Bashaw Trl

Shell Lake, WI

2 beds | 1 baths | 841 sq.ft.

$235,900

Airbnb cash on cash: 3.79%

Traditional cash on cash: 3.77%

Airbnb Rental Income: $1703

Traditional Rental Income: $1224

Airbnb ROI: 3.79%

Traditional ROI: 3.77%

301 Old County D

Shell Lake, WI

4 beds | 2 baths | 1,921 sq.ft.

$295,000

Airbnb cash on cash: 3.95%

Traditional cash on cash: 4.75%

Airbnb Rental Income: $2305

Traditional Rental Income: $1954

Airbnb ROI: 3.95%

Traditional ROI: 4.75%

111 Reinhart Dr

Shell Lake, WI

3 beds | 2 baths | 2,292 sq.ft.

$362,900

Airbnb cash on cash: 3.52%

Traditional cash on cash: 5.37%

Airbnb Rental Income: $2549

Traditional Rental Income: $2566

Airbnb ROI: 3.52%

Traditional ROI: 5.37%

1339 S Lake Dr

Shell Lake, WI

1 beds | 1 baths | 892 sq.ft.

$699,900

Airbnb cash on cash: N/A

Traditional cash on cash: -0.55%

Airbnb Rental Income: $null

Traditional Rental Income: $1468

Airbnb ROI: N/A

Traditional ROI: -0.55%

316 Wennerberg Shore Dr

Shell Lake, WI

1 beds | N/A baths | 426 sq.ft.

$189,000

Airbnb cash on cash: N/A

Traditional cash on cash: 4.73%

Airbnb Rental Income: $null

Traditional Rental Income: $1181

Airbnb ROI: N/A

Traditional ROI: 4.73%

N3328 New Knapp Rd

Shell Lake, WI

2 beds | 1 baths | 1,125 sq.ft.

$229,900

Airbnb cash on cash: 3.99%

Traditional cash on cash: 5.27%

Airbnb Rental Income: $1703

Traditional Rental Income: $1508

Airbnb ROI: 3.99%

Traditional ROI: 5.27%

N4433 Forest Creek Drive

Shell Lake, WI

4 beds | 3 baths | 3,725 sq.ft.

$474,900

Airbnb cash on cash: 1.73%

Traditional cash on cash: 4.48%

Airbnb Rental Income: $2305

Traditional Rental Income: $2952

Airbnb ROI: 1.73%

Traditional ROI: 4.48%

N2991 Sunset Dr

Shell Lake, WI

1 beds | 1 baths | 900 sq.ft.

$215,000

Airbnb cash on cash: N/A

Traditional cash on cash: 2.66%

Airbnb Rental Income: $null

Traditional Rental Income: $1209

Airbnb ROI: N/A