Real Estate Investment Properties for Sale in Dowagiac, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
33074 Hunt Drive Dowagiac, MI INDIAN LAKE ACCESS & LAKE VIEW (LEASED LAND)Enjoy all the benefits of a private shared pie...	1 beds \| 1 baths \| 876 sq.ft.	$189,900	Airbnb cash on cash: 0.54% Traditional cash on cash: 6.08% Airbnb Rental Income: $848 Traditional Rental Income: $1517 Airbnb ROI: 0.54% Traditional ROI: 6.08%
50002 M 51 N Dowagiac, MI Welcome to 50002 M-51. This beautiful 30 acre pastured property, farm house, and buildings...	4 beds \| 1 baths \| 1,800 sq.ft.	$359,900	Airbnb cash on cash: 6.36% Traditional cash on cash: 3.95% Airbnb Rental Income: $3511 Traditional Rental Income: $1923 Airbnb ROI: 6.36% Traditional ROI: 3.95%
68448 Beechwood Drive Dowagiac, MI One of a kind! Stunning Lake Front Home on Beautiful Round Lake in Sister Lakes resort ar...	4 beds \| 5 baths \| 4,105 sq.ft.	$2,199,000	Airbnb cash on cash: -0.38% Traditional cash on cash: 0.22% Airbnb Rental Income: $3511 Traditional Rental Income: $3959 Airbnb ROI: -0.38% Traditional ROI: 0.22%
50040 South Street Dowagiac, MI Magician Lake access home with two lots and lakeviews. This home has 2 bedrooms, 1 bath a...	2 beds \| 1 baths \| 903 sq.ft.	$249,900	Airbnb cash on cash: 2.57% Traditional cash on cash: 2.81% Airbnb Rental Income: $1471 Traditional Rental Income: $1094 Airbnb ROI: 2.57% Traditional ROI: 2.81%
58560 Indian Lake Road Dowagiac, MI Serene lakefront retreat on secluded Little Smith Lakeâjust 30 mins from Notre Dame and ...	3 beds \| 2 baths \| 2,721 sq.ft.	$699,000	Airbnb cash on cash: 2.09% Traditional cash on cash: 2.67% Airbnb Rental Income: $3257 Traditional Rental Income: $2901 Airbnb ROI: 2.09% Traditional ROI: 2.67%
204 Clinton Street Dowagiac, MI If you're looking for a nice cozy home you can live in while adding value , then this is i...	2 beds \| 1 baths \| 882 sq.ft.	$110,000	Airbnb cash on cash: 7.19% Traditional cash on cash: 7.83% Airbnb Rental Income: $1471 Traditional Rental Income: $1105 Airbnb ROI: 7.19% Traditional ROI: 7.83%
432 Chestnut Street Dowagiac, MI This 2 bedroom completely renovated home is located on large lot, shed has electric. Home ...	2 beds \| 1 baths \| 974 sq.ft.	$138,000	Airbnb cash on cash: 5.44% Traditional cash on cash: 8.37% Airbnb Rental Income: $1471 Traditional Rental Income: $1424 Airbnb ROI: 5.44% Traditional ROI: 8.37%
58180 Indian Lake Road Dowagiac, MI Once in a lifetime property with 70 acres of scenic private woods and frontage on Little S...	3 beds \| 3 baths \| 2,643 sq.ft.	$990,000	Airbnb cash on cash: 1.11% Traditional cash on cash: 1.83% Airbnb Rental Income: $3257 Traditional Rental Income: $3191 Airbnb ROI: 1.11% Traditional ROI: 1.83%
66476 Oak Street Dowagiac, MI 2 neat and clean cottages all on their own lots with multiple, buildable other lots nearby...	N/A beds \| N/A baths \| N/A	$99,900	Airbnb cash on cash: N/A Traditional cash on cash: 11.19% Airbnb Rental Income: $null Traditional Rental Income: $1514 Airbnb ROI: N/A Traditional ROI: 11.19%
93459 M 152 Dowagiac, MI Tucked away on 15.5 acres of lush, wooded land, this 2-bedroom, 2-bath brick ranch home of...	2 beds \| 2 baths \| 1,644 sq.ft.	$329,900	Airbnb cash on cash: 1.21% Traditional cash on cash: 5.07% Airbnb Rental Income: $1471 Traditional Rental Income: $2235 Airbnb ROI: 1.21% Traditional ROI: 5.07%
67560 95th Avenue Dowagiac, MI A true GEM! This unique property features two charming cottages on one lot with 40 feet of...	4 beds \| 2 baths \| 1,440 sq.ft.	$540,000	Airbnb cash on cash: 3.13% Traditional cash on cash: 2.24% Airbnb Rental Income: $3511 Traditional Rental Income: $2287 Airbnb ROI: 3.13% Traditional ROI: 2.24%
55132 M 51 N Dowagiac, MI Stone Ranch style home just outside of the city limits. Features include newer Hi-Efficien...	2 beds \| 2 baths \| 1,550 sq.ft.	$161,000	Airbnb cash on cash: 4.34% Traditional cash on cash: 11.85% Airbnb Rental Income: $1471 Traditional Rental Income: $2191 Airbnb ROI: 4.34% Traditional ROI: 11.85%
206 New York Avenue Dowagiac, MI Located directly across from the public library in downtown Dowagiac, this well-maintained...	N/A beds \| N/A baths \| N/A	$169,900	Airbnb cash on cash: N/A Traditional cash on cash: 7% Airbnb Rental Income: $null Traditional Rental Income: $1585 Airbnb ROI: N/A Traditional ROI: 7%
32730 Cable Drive Dowagiac, MI Large price reduction!!! Little Crooked Lake and Cable Lake platted access and views. Th...	3 beds \| 2 baths \| 1,208 sq.ft.	$299,999	Airbnb cash on cash: 6.86% Traditional cash on cash: 4.66% Airbnb Rental Income: $3257 Traditional Rental Income: $1904 Airbnb ROI: 6.86% Traditional ROI: 4.66%
94687 Oak Street Dowagiac, MI Private waterfront living on Little Crooked Lake! Enjoy all sport lake views from the deck...	3 beds \| 3 baths \| 1,072 sq.ft.	$524,900	Airbnb cash on cash: 2.65% Traditional cash on cash: 2.2% Airbnb Rental Income: $3257 Traditional Rental Income: $2304 Airbnb ROI: 2.65% Traditional ROI: 2.2%
53027 Twin Lakes Road Dowagiac, MI MOTIVATED SELLERS!! Property Now Offered With A $50,000 Price Reduction With A New Price O...	4 beds \| 3 baths \| 2,445 sq.ft.	$425,000	Airbnb cash on cash: 5.23% Traditional cash on cash: 6.07% Airbnb Rental Income: $3511 Traditional Rental Income: $3070 Airbnb ROI: 5.23% Traditional ROI: 6.07%
50479 Delling Drive Dowagiac, MI This is the magical vintage cottage we all remember going to for the summer as a child, or...	2 beds \| 1 baths \| 892 sq.ft.	$235,000	Airbnb cash on cash: 2.54% Traditional cash on cash: 4.67% Airbnb Rental Income: $1471 Traditional Rental Income: $1509 Airbnb ROI: 2.54% Traditional ROI: 4.67%
50761 W Bay Road Dowagiac, MI Welcome to your dream lake retreat on the highly sought-after Magician Lakeâa 528-acre, ...	2 beds \| 1 baths \| 744 sq.ft.	$350,000	Airbnb cash on cash: 1.4% Traditional cash on cash: 2.82% Airbnb Rental Income: $1471 Traditional Rental Income: $1504 Airbnb ROI: 1.4% Traditional ROI: 2.82%
50748 W Bay Road Dowagiac, MI Enjoy this stunning 3-bedroom, 1-bath home near Magician Lake on nearly Â½ acre, offering ...	3 beds \| 1 baths \| 1,200 sq.ft.	$250,000	Airbnb cash on cash: 8.44% Traditional cash on cash: 4.54% Airbnb Rental Income: $3257 Traditional Rental Income: $1604 Airbnb ROI: 8.44% Traditional ROI: 4.54%
25942 Dutch Settlement Street Dowagiac, MI Perfect for relaxed living - this 4 bedroom, 1.5 bathroom waterfront home is nestled on 1....	4 beds \| 2 baths \| 2,636 sq.ft.	$550,000	Airbnb cash on cash: 3.76% Traditional cash on cash: 4.09% Airbnb Rental Income: $3511 Traditional Rental Income: $2904 Airbnb ROI: 3.76% Traditional ROI: 4.09%
30170 Beeson Street Dowagiac, MI Subject to land division! Escape to your own private retreat on+/- 10 peaceful acres fille...	3 beds \| 3 baths \| 4,114 sq.ft.	$795,000	Airbnb cash on cash: 1.34% Traditional cash on cash: 2.22% Airbnb Rental Income: $3257 Traditional Rental Income: $3175 Airbnb ROI: 1.34% Traditional ROI: 2.22%
54727 Twin Lakes Road Dowagiac, MI Built in 2024, this 4 bed, 3 full bath home sits on 20 wooded acres! Motivated Seller due ...	4 beds \| 3 baths \| 2,530 sq.ft.	$585,000	Airbnb cash on cash: 3.11% Traditional cash on cash: 3.68% Airbnb Rental Income: $3511 Traditional Rental Income: $3049 Airbnb ROI: 3.11% Traditional ROI: 3.68%
32314 Hilltop Dowagiac, MI Beautiful property location with private Cable lake access and stunning views . fishing pi...	2 beds \| 1 baths \| 890 sq.ft.	$239,500	Airbnb cash on cash: 2.52% Traditional cash on cash: 4.36% Airbnb Rental Income: $1471 Traditional Rental Income: $1454 Airbnb ROI: 2.52% Traditional ROI: 4.36%
26794 Dutch Settlement Street Dowagiac, MI Nestled on the tranquil shores of Mill Pond, this beautifully updated 4-bedroom, 2.5-bath ...	4 beds \| 3 baths \| 3,262 sq.ft.	$659,000	Airbnb cash on cash: 2.24% Traditional cash on cash: 3.46% Airbnb Rental Income: $3511 Traditional Rental Income: $3482 Airbnb ROI: 2.24% Traditional ROI: 3.46%
56234 Sink Road Dowagiac, MI Experience the perfect blend of modern comfort and rugged charm with this cozy 2 bed, 2 fu...	2 beds \| 2 baths \| 1,593 sq.ft.	$429,000	Airbnb cash on cash: 1.3% Traditional cash on cash: 4.19% Airbnb Rental Income: $1471 Traditional Rental Income: $2199 Airbnb ROI: 1.3% Traditional ROI: 4.19%
25516 Dutch Settlement Street Dowagiac, MI Welcome to this solid 2128 sq. ft. ranch home set on 10 acres with approximate 7 acres of ...	2 beds \| 2 baths \| 2,128 sq.ft.	$329,900	Airbnb cash on cash: 1.44% Traditional cash on cash: 5.82% Airbnb Rental Income: $1471 Traditional Rental Income: $2396 Airbnb ROI: 1.44% Traditional ROI: 5.82%
24984 Marcellus Highway Dowagiac, MI Charming 3 bed, 1 bath home on 5.2 scenic acres in Dowagiac! Enjoy a peaceful setting with...	3 beds \| 1 baths \| 1,176 sq.ft.	$289,900	Airbnb cash on cash: 7.58% Traditional cash on cash: 4.01% Airbnb Rental Income: $3257 Traditional Rental Income: $1551 Airbnb ROI: 7.58% Traditional ROI: 4.01%
52400 Susan Lane Dowagiac, MI Lakefront retreat on the peaceful shores of Priest Lake in Dowagiac, MI! This 3-bedroom, 2...	3 beds \| 2 baths \| 1,248 sq.ft.	$270,000	Airbnb cash on cash: 7.92% Traditional cash on cash: 6.47% Airbnb Rental Income: $3257 Traditional Rental Income: $2157 Airbnb ROI: 7.92% Traditional ROI: 6.47%
55772 Indian Lake Road Dowagiac, MI Great location with this leased land cottage located a block away from the ILYC (yacht clu...	3 beds \| 2 baths \| 1,090 sq.ft.	$250,000	Airbnb cash on cash: 8.47% Traditional cash on cash: 6.43% Airbnb Rental Income: $3257 Traditional Rental Income: $2042 Airbnb ROI: 8.47% Traditional ROI: 6.43%
423 E Division Street Dowagiac, MI Spacious 3-Unit Investment Property with garage & Large Yard. The property features three ...	N/A beds \| N/A baths \| N/A	$225,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.16% Airbnb Rental Income: $null Traditional Rental Income: $1636 Airbnb ROI: N/A Traditional ROI: 5.16%
33160 Hunt Drive Dowagiac, MI Renovated home with additional finished sq ft added to this lakefront home on all sports I...	4 beds \| 2 baths \| 1,267 sq.ft.	$579,900	Airbnb cash on cash: 3.03% Traditional cash on cash: 2.02% Airbnb Rental Income: $3511 Traditional Rental Income: $2189 Airbnb ROI: 3.03% Traditional ROI: 2.02%
51701 Leach Road Dowagiac, MI Beautiful, meticulously taken care of home on 4.26 acres. Enjoy country living in this spa...	4 beds \| 4 baths \| 3,050 sq.ft.	$435,000	Airbnb cash on cash: 4.68% Traditional cash on cash: 6.41% Airbnb Rental Income: $3511 Traditional Rental Income: $3445 Airbnb ROI: 4.68% Traditional ROI: 6.41%
425 Chestnut Street Dowagiac, MI a new deck, and room to relax or play. Located just a half mile from Downtown Dowagiac's ...	3 beds \| 2 baths \| 1,645 sq.ft.	$225,000	Airbnb cash on cash: 8.93% Traditional cash on cash: 7.87% Airbnb Rental Income: $3257 Traditional Rental Income: $2298 Airbnb ROI: 8.93% Traditional ROI: 7.87%
56777 M-51 S Dowagiac, MI This spacious 3-bedroom, 2-story brick home offers the perfect blend of comfort, versatili...	4 beds \| 3 baths \| 2,577 sq.ft.	$365,000	Airbnb cash on cash: 6.23% Traditional cash on cash: 7.61% Airbnb Rental Income: $3511 Traditional Rental Income: $3210 Airbnb ROI: 6.23% Traditional ROI: 7.61%
50427 M-51 Dowagiac, MI COUNTRY LIVING on a 4.7 ACRES homesite! Are you looking for a home with a little land? Wan...	3 beds \| 2 baths \| 2,320 sq.ft.	$285,000	Airbnb cash on cash: 7.05% Traditional cash on cash: 7.27% Airbnb Rental Income: $3257 Traditional Rental Income: $2583 Airbnb ROI: 7.05% Traditional ROI: 7.27%
24948 Lake Shore Drive Dowagiac, MI Your Lakefront Getaway Awaits! Beautifully renovated and move-in ready, this 3BR/2BA home...	3 beds \| 2 baths \| 1,386 sq.ft.	$525,000	Airbnb cash on cash: 3.68% Traditional cash on cash: 3.36% Airbnb Rental Income: $3257 Traditional Rental Income: $2369 Airbnb ROI: 3.68% Traditional ROI: 3.36%
66909 Lakeland Avenue Dowagiac, MI Open House! Saturday, August 23rd, 10AM - 11AM! Welcome to this charming 3-bedroom, 2-ba...	3 beds \| 2 baths \| 1,400 sq.ft.	$285,000	Airbnb cash on cash: 7.38% Traditional cash on cash: 5.65% Airbnb Rental Income: $3257 Traditional Rental Income: $2061 Airbnb ROI: 7.38% Traditional ROI: 5.65%
56915 Wilbur Hill Road Dowagiac, MI This well-maintained 3-bedroom, 1.5-bath home sits just outside the city limits on approxi...	3 beds \| 2 baths \| 1,585 sq.ft.	$285,000	Airbnb cash on cash: 7.5% Traditional cash on cash: 6.52% Airbnb Rental Income: $3257 Traditional Rental Income: $2263 Airbnb ROI: 7.5% Traditional ROI: 6.52%
66989 Lakeshore Drive Dowagiac, MI Lake Front living on Big Crooked Lake in the resort area of Sister Lakes Michigan. Fully ...	2 beds \| 2 baths \| 1,158 sq.ft.	$599,000	Airbnb cash on cash: 0.15% Traditional cash on cash: 1.83% Airbnb Rental Income: $1471 Traditional Rental Income: $1973 Airbnb ROI: 0.15% Traditional ROI: 1.83%
29460 M-62 Dowagiac, MI Charming 3-Bedroom Ranch on 4.65 Acres with Creek Access ✨ Discover the potential ...	4 beds \| 1 baths \| 1,920 sq.ft.	$295,000	Airbnb cash on cash: 7.84% Traditional cash on cash: 5.69% Airbnb Rental Income: $3511 Traditional Rental Income: $2140 Airbnb ROI: 7.84% Traditional ROI: 5.69%

Real Estate investment in Dowagiac, MI

There are 40 properties for sale in the city of Dowagiac . The median list price in Dowagiac is $250,000 and the average price per square foot is $152. In September 2025, the average monthly cash on cash return in Dowagiac is 6.00%. The average monthly rental income in Dowagiac is $2,052.

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

There are 40 investment properties available for sale in Dowagiac.

In 2025, the best neighborhood to buy investment property is Dowagiac.

The ROI for Short-Term is higher than the Long-Term in Dowagiac with average rental income of $3,257.

Your search for investment property begins and ends here

Investment Property for Sale in Dowagiac, MI

33074 Hunt Drive

Dowagiac, MI

1 beds | 1 baths | 876 sq.ft.

$189,900

Airbnb cash on cash: 0.54%

Traditional cash on cash: 6.08%

Airbnb Rental Income: $848

Traditional Rental Income: $1517

Airbnb ROI: 0.54%

Traditional ROI: 6.08%

50002 M 51 N

Dowagiac, MI

4 beds | 1 baths | 1,800 sq.ft.

$359,900

Airbnb cash on cash: 6.36%

Traditional cash on cash: 3.95%

Airbnb Rental Income: $3511

Traditional Rental Income: $1923

Airbnb ROI: 6.36%

Traditional ROI: 3.95%

68448 Beechwood Drive

Dowagiac, MI

4 beds | 5 baths | 4,105 sq.ft.

$2,199,000

Airbnb cash on cash: -0.38%

Traditional cash on cash: 0.22%

Airbnb Rental Income: $3511

Traditional Rental Income: $3959

Airbnb ROI: -0.38%

Traditional ROI: 0.22%

50040 South Street

Dowagiac, MI

2 beds | 1 baths | 903 sq.ft.

$249,900

Airbnb cash on cash: 2.57%

Traditional cash on cash: 2.81%

Airbnb Rental Income: $1471

Traditional Rental Income: $1094

Airbnb ROI: 2.57%

Traditional ROI: 2.81%

58560 Indian Lake Road

Dowagiac, MI

3 beds | 2 baths | 2,721 sq.ft.

$699,000

Airbnb cash on cash: 2.09%

Traditional cash on cash: 2.67%

Airbnb Rental Income: $3257

Traditional Rental Income: $2901

Airbnb ROI: 2.09%

Traditional ROI: 2.67%

204 Clinton Street

Dowagiac, MI

2 beds | 1 baths | 882 sq.ft.

$110,000

Airbnb cash on cash: 7.19%

Traditional cash on cash: 7.83%

Airbnb Rental Income: $1471

Traditional Rental Income: $1105

Airbnb ROI: 7.19%

Traditional ROI: 7.83%

432 Chestnut Street

Dowagiac, MI

2 beds | 1 baths | 974 sq.ft.

$138,000

Airbnb cash on cash: 5.44%

Traditional cash on cash: 8.37%

Airbnb Rental Income: $1471

Traditional Rental Income: $1424

Airbnb ROI: 5.44%

Traditional ROI: 8.37%

58180 Indian Lake Road

Dowagiac, MI

3 beds | 3 baths | 2,643 sq.ft.

$990,000

Airbnb cash on cash: 1.11%

Traditional cash on cash: 1.83%

Airbnb Rental Income: $3257

Traditional Rental Income: $3191

Airbnb ROI: 1.11%