Real Estate Investment Properties for Sale in Alpena, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
113 Birdie Lane Alpena, MI Cute and solid brick ranch with 2 bedrooms and 1 bath, tucked away on a quiet cul-de-sac. ...	2 beds \| 1 baths \| 2,128 sq.ft.	$162,900	Airbnb cash on cash: 0.21% Traditional cash on cash: 8.42% Airbnb Rental Income: $717 Traditional Rental Income: $1685 Airbnb ROI: 0.21% Traditional ROI: 8.42%
5065 Misery Bay Road Alpena, MI Experience the magic of true Up North living where sunrise mornings, sparkling Lake Huron ...	4 beds \| 4 baths \| 3,648 sq.ft.	$559,000	Airbnb cash on cash: -0.05% Traditional cash on cash: 6.46% Airbnb Rental Income: $1379 Traditional Rental Income: $4359 Airbnb ROI: -0.05% Traditional ROI: 6.46%
207 Mason Street Alpena, MI Back on the market at no fault of the seller. This luxurious open concept home in the City...	4 beds \| 3 baths \| 2,659 sq.ft.	$379,000	Airbnb cash on cash: 0.86% Traditional cash on cash: 6.41% Airbnb Rental Income: $1379 Traditional Rental Income: $2933 Airbnb ROI: 0.86% Traditional ROI: 6.41%
101 Island View Drive Alpena, MI This home is truly move-in ready, reflecting the pride of meticulous ownership. It's packe...	3 beds \| 2 baths \| 2,088 sq.ft.	$269,000	Airbnb cash on cash: 0.52% Traditional cash on cash: 8.51% Airbnb Rental Income: $1043 Traditional Rental Income: $2707 Airbnb ROI: 0.52% Traditional ROI: 8.51%
1098 Wayne Road Alpena, MI Welcome to this cute 3-bedroom, 2-bathroom ranch home located in Alpena Township. This hom...	3 beds \| 2 baths \| 1,100 sq.ft.	$184,000	Airbnb cash on cash: 1.77% Traditional cash on cash: 5.08% Airbnb Rental Income: $1043 Traditional Rental Income: $1260 Airbnb ROI: 1.77% Traditional ROI: 5.08%
408 W Lincoln Street Alpena, MI Charming 2-bedroom, 2-bath home blending timeless character with modern comfort! This invi...	2 beds \| 2 baths \| 2,420 sq.ft.	$239,999	Airbnb cash on cash: -0.88% Traditional cash on cash: 7.33% Airbnb Rental Income: $717 Traditional Rental Income: $2271 Airbnb ROI: -0.88% Traditional ROI: 7.33%
1296 Hobbs Drive Alpena, MI Easy condo living awaits! This well-maintained upstairs condo features two bedrooms, one b...	2 beds \| 1 baths \| 882 sq.ft.	$129,900	Airbnb cash on cash: 0.5% Traditional cash on cash: 7.42% Airbnb Rental Income: $717 Traditional Rental Income: $1273 Airbnb ROI: 0.5% Traditional ROI: 7.42%
215 Fair Avenue Alpena, MI This unique and beautiful 4-bedroom, 2-bath home is nestled on an oversized lot in the hea...	4 beds \| 2 baths \| 3,108 sq.ft.	$349,900	Airbnb cash on cash: 0.95% Traditional cash on cash: 3.84% Airbnb Rental Income: $1379 Traditional Rental Income: $1910 Airbnb ROI: 0.95% Traditional ROI: 3.84%
232 S First Avenue Alpena, MI Step into timeless elegance with this 6000 plus sq ft, two story, four bedroom, six bath r...	4 beds \| 5 baths \| 6,791 sq.ft.	$895,000	Airbnb cash on cash: -0.67% Traditional cash on cash: 5.88% Airbnb Rental Income: $1379 Traditional Rental Income: $6415 Airbnb ROI: -0.67% Traditional ROI: 5.88%
536 Brentwood Drive Alpena, MI Welcome to this inviting 3-bedroom, 1.5-bathroom home, designed with a modern open floor p...	3 beds \| 2 baths \| 1,516 sq.ft.	$269,900	Airbnb cash on cash: -0.21% Traditional cash on cash: 4.32% Airbnb Rental Income: $1043 Traditional Rental Income: $1833 Airbnb ROI: -0.21% Traditional ROI: 4.32%
635 W Washington Avenue Alpena, MI A RARE GEM right within the city limits! This stunning 4-bedroom, 4- full bathroom home of...	4 beds \| 4 baths \| 3,237 sq.ft.	$524,500	Airbnb cash on cash: 0.21% Traditional cash on cash: 5.63% Airbnb Rental Income: $1379 Traditional Rental Income: $3615 Airbnb ROI: 0.21% Traditional ROI: 5.63%
121 Channel Road 1 Alpena, MI NEW AC, water heater, and heating system. This channel-front home offers direct access to ...	3 beds \| 2 baths \| 1,950 sq.ft.	$399,900	Airbnb cash on cash: -0.3% Traditional cash on cash: 5.59% Airbnb Rental Income: $1043 Traditional Rental Income: $2889 Airbnb ROI: -0.3% Traditional ROI: 5.59%
423 W Campbell Street Alpena, MI This comfortable 3 bedroom one bath home is one you need to see because there is more than...	3 beds \| 1 baths \| 2,370 sq.ft.	$179,900	Airbnb cash on cash: 1.64% Traditional cash on cash: 9.41% Airbnb Rental Income: $1043 Traditional Rental Income: $2010 Airbnb ROI: 1.64% Traditional ROI: 9.41%
6234 French Road Alpena, MI Pleasant ranch home on paved road just minutes from town and Long Lake boat launch. Many u...	3 beds \| 1 baths \| 1,352 sq.ft.	$169,900	Airbnb cash on cash: 1.94% Traditional cash on cash: 10.56% Airbnb Rental Income: $1043 Traditional Rental Income: $2076 Airbnb ROI: 1.94% Traditional ROI: 10.56%
433 W Lincoln Street Alpena, MI Make this your next home! Located in close proximity to many of the amenities offered in A...	3 beds \| 1 baths \| 1,264 sq.ft.	$179,500	Airbnb cash on cash: 1.31% Traditional cash on cash: 10.42% Airbnb Rental Income: $1043 Traditional Rental Income: $2236 Airbnb ROI: 1.31% Traditional ROI: 10.42%
1124 Long Rapids Road Alpena, MI Charming ranch-style home located just outside the city limits. This two-bedroom home feat...	2 beds \| 1 baths \| 1,008 sq.ft.	$159,900	Airbnb cash on cash: 0.39% Traditional cash on cash: 8.98% Airbnb Rental Income: $717 Traditional Rental Income: $1719 Airbnb ROI: 0.39% Traditional ROI: 8.98%
567 Long Rapids Road Alpena, MI Great City location with all the feel of country living. Short distance to the hospital an...	4 beds \| 2 baths \| 1,866 sq.ft.	$269,900	Airbnb cash on cash: 1.29% Traditional cash on cash: 8.4% Airbnb Rental Income: $1379 Traditional Rental Income: $2770 Airbnb ROI: 1.29% Traditional ROI: 8.4%
310 W Campbell Street Alpena, MI Older style home with lots of charm and character. With large updated apartments and cosme...	4 beds \| 2 baths \| 2,273 sq.ft.	$239,900	Airbnb cash on cash: 1.14% Traditional cash on cash: 7.37% Airbnb Rental Income: $1379 Traditional Rental Income: $2374 Airbnb ROI: 1.14% Traditional ROI: 7.37%
1309 Crestview Drive Alpena, MI Spanish style brick ranch nestled in a wonderful neighborhood close to schools, hospital a...	3 beds \| 2 baths \| 1,476 sq.ft.	$200,000	Airbnb cash on cash: 1.28% Traditional cash on cash: 10.29% Airbnb Rental Income: $1043 Traditional Rental Income: $2391 Airbnb ROI: 1.28% Traditional ROI: 10.29%
104 Birdie Lane Alpena, MI This delightful 2-bedroom, 1-bath home sits just steps from the golf course-fitting for it...	2 beds \| 1 baths \| 1,650 sq.ft.	$159,200	Airbnb cash on cash: 0.33% Traditional cash on cash: 9.05% Airbnb Rental Income: $717 Traditional Rental Income: $1733 Airbnb ROI: 0.33% Traditional ROI: 9.05%
701 S Brooke Street Alpena, MI One level living! You will enjoy the open spaces in this rambling ranch. Large living room...	3 beds \| 2 baths \| 1,500 sq.ft.	$170,000	Airbnb cash on cash: 1.86% Traditional cash on cash: 11.38% Airbnb Rental Income: $1043 Traditional Rental Income: $2223 Airbnb ROI: 1.86% Traditional ROI: 11.38%
1711 LAKE WINYAH Alpena, MI COZY 2290 SQ FOOT BI LEVEL SITTING ON 1 ACRE OF STUNNING LAND. THIS HOME NOT ONLY FEATURES...	4 beds \| 2 baths \| 2,290 sq.ft.	$250,000	Airbnb cash on cash: 1.66% Traditional cash on cash: 9.85% Airbnb Rental Income: $1379 Traditional Rental Income: $2894 Airbnb ROI: 1.66% Traditional ROI: 9.85%
6815 Wessel Road Alpena, MI Well-maintained 2003 manufactured featuring a custom walk-in shower and functional living ...	3 beds \| 2 baths \| 1,260 sq.ft.	$225,000	Airbnb cash on cash: 0.24% Traditional cash on cash: 6.83% Airbnb Rental Income: $1043 Traditional Rental Income: $2085 Airbnb ROI: 0.24% Traditional ROI: 6.83%
1090 Oakridge Drive Alpena, MI Enjoy the peacefulness of this 3-bedroom, 2-bath home with an attached garage and a spacio...	3 beds \| 2 baths \| 2,432 sq.ft.	$279,000	Airbnb cash on cash: 0.57% Traditional cash on cash: 8% Airbnb Rental Income: $1043 Traditional Rental Income: $2635 Airbnb ROI: 0.57% Traditional ROI: 8%
17952 Birch Street Alpena, MI Enjoy waterfront living in this charming three bedroom, one and a half bath home situated ...	3 beds \| 2 baths \| 1,600 sq.ft.	$526,000	Airbnb cash on cash: -1.33% Traditional cash on cash: 2.5% Airbnb Rental Income: $1043 Traditional Rental Income: $2567 Airbnb ROI: -1.33% Traditional ROI: 2.5%
3352 French Road Alpena, MI Large Ranch home close to schools & shopping. Natural gas fireplace Insert in Living room ...	3 beds \| 1 baths \| 1,456 sq.ft.	$174,500	Airbnb cash on cash: 1.68% Traditional cash on cash: 9.63% Airbnb Rental Income: $1043 Traditional Rental Income: $2002 Airbnb ROI: 1.68% Traditional ROI: 9.63%

Real Estate investment in Alpena, MI

There are 58 properties for sale in the city of Alpena . The median list price in Alpena is $199,900 and the average price per square foot is $95. In May 2026, the average monthly cash on cash return in Alpena is 7.00%. The average monthly rental income in Alpena is $1,833.

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

There are 58 investment properties available for sale in Alpena.

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

The ROI for Long-Term is higher than the Short-Term in Alpena with average rental income of $1,833.

Your search for investment property begins and ends here

Investment Property for Sale in Alpena, MI

113 Birdie Lane

Alpena, MI

2 beds | 1 baths | 2,128 sq.ft.

$162,900

Airbnb cash on cash: 0.21%

Traditional cash on cash: 8.42%

Airbnb Rental Income: $717

Traditional Rental Income: $1685

Airbnb ROI: 0.21%

Traditional ROI: 8.42%

5065 Misery Bay Road

Alpena, MI

4 beds | 4 baths | 3,648 sq.ft.

$559,000

Airbnb cash on cash: -0.05%

Traditional cash on cash: 6.46%

Airbnb Rental Income: $1379

Traditional Rental Income: $4359

Airbnb ROI: -0.05%

Traditional ROI: 6.46%

207 Mason Street

Alpena, MI

4 beds | 3 baths | 2,659 sq.ft.

$379,000

Airbnb cash on cash: 0.86%

Traditional cash on cash: 6.41%

Airbnb Rental Income: $1379

Traditional Rental Income: $2933

Airbnb ROI: 0.86%

Traditional ROI: 6.41%

101 Island View Drive

Alpena, MI

3 beds | 2 baths | 2,088 sq.ft.

$269,000

Airbnb cash on cash: 0.52%

Traditional cash on cash: 8.51%

Airbnb Rental Income: $1043

Traditional Rental Income: $2707

Airbnb ROI: 0.52%

Traditional ROI: 8.51%

1098 Wayne Road

Alpena, MI

3 beds | 2 baths | 1,100 sq.ft.

$184,000

Airbnb cash on cash: 1.77%

Traditional cash on cash: 5.08%

Airbnb Rental Income: $1043

Traditional Rental Income: $1260

Airbnb ROI: 1.77%

Traditional ROI: 5.08%

408 W Lincoln Street

Alpena, MI

2 beds | 2 baths | 2,420 sq.ft.

$239,999

Airbnb cash on cash: -0.88%

Traditional cash on cash: 7.33%

Airbnb Rental Income: $717

Traditional Rental Income: $2271

Airbnb ROI: -0.88%

Traditional ROI: 7.33%

1296 Hobbs Drive

Alpena, MI

2 beds | 1 baths | 882 sq.ft.

$129,900

Airbnb cash on cash: 0.5%

Traditional cash on cash: 7.42%

Airbnb Rental Income: $717

Traditional Rental Income: $1273

Airbnb ROI: 0.5%

Traditional ROI: 7.42%

215 Fair Avenue

Alpena, MI

4 beds | 2 baths | 3,108 sq.ft.

$349,900

Airbnb cash on cash: 0.95%

Traditional cash on cash: 3.84%

Airbnb Rental Income: $1379

Traditional Rental Income: $1910

Airbnb ROI: 0.95%