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

separator

PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
108 Hill Street Dowagiac, MI Don't Miss out on this Great Home. Larger corner lot with a large detached 3-car garage, p...	3 beds \| 3 baths \| 2,136 sq.ft.	$190,000	Airbnb cash on cash: 3.18% Traditional cash on cash: 11.18% Airbnb Rental Income: $1663 Traditional Rental Income: $2641 Airbnb ROI: 3.18% Traditional ROI: 11.18%
50085 E Lake Shore Drive Dowagiac, MI Views of Magician Lake and access to the lake through Rainbow Park Association. Just a sho...	2 beds \| 2 baths \| 1,034 sq.ft.	$270,000	Airbnb cash on cash: -0.28% Traditional cash on cash: 4.89% Airbnb Rental Income: $818 Traditional Rental Income: $1809 Airbnb ROI: -0.28% Traditional ROI: 4.89%
67404 Victory Shore Drive #6 Dowagiac, MI Sister Lakes cottage with deeded lake access to Big Crooked Lake, beautiful sandy beach, a...	2 beds \| 2 baths \| 528 sq.ft.	$199,000	Airbnb cash on cash: -0.76% Traditional cash on cash: 4.86% Airbnb Rental Income: $818 Traditional Rental Income: $1554 Airbnb ROI: -0.76% Traditional ROI: 4.86%
53815 Glenwood Road Dowagiac, MI Welcome to this stunning new construction barndominium built in 2025 and perfectly situate...	2 beds \| 1 baths \| 1,248 sq.ft.	$580,000	Airbnb cash on cash: -0.62% Traditional cash on cash: 2.12% Airbnb Rental Income: $818 Traditional Rental Income: $1977 Airbnb ROI: -0.62% Traditional ROI: 2.12%
33320 Ridenour Road Dowagiac, MI Tucked just around the corner from Indian Lake, this charming, move-in-ready ranch offers ...	2 beds \| 2 baths \| 1,152 sq.ft.	$199,000	Airbnb cash on cash: 0.61% Traditional cash on cash: 8.22% Airbnb Rental Income: $818 Traditional Rental Income: $1930 Airbnb ROI: 0.61% Traditional ROI: 8.22%
307 E Telegraph Street Dowagiac, MI Charming and modern, this 2-bedroom, 1-bathroom bungalow in downtown Dowagiac is the perfe...	2 beds \| 1 baths \| 887 sq.ft.	$116,900	Airbnb cash on cash: 2.01% Traditional cash on cash: 7.11% Airbnb Rental Income: $818 Traditional Rental Income: $1068 Airbnb ROI: 2.01% Traditional ROI: 7.11%
401 Keene Avenue Dowagiac, MI This traditional 2-story home features 3 bedrooms, 1 bathroom, and approximately 1,400 squ...	3 beds \| 1 baths \| 1,380 sq.ft.	$125,000	Airbnb cash on cash: 7.4% Traditional cash on cash: 7.07% Airbnb Rental Income: $1663 Traditional Rental Income: $1157 Airbnb ROI: 7.4% Traditional ROI: 7.07%
66476 Oak Street Dowagiac, MI 2 neat and clean cottages all on their own lots with multiple, buildable other lots nearby...	2 beds \| N/A baths \| N/A	$99,900	Airbnb cash on cash: 0.67% Traditional cash on cash: 11.19% Airbnb Rental Income: $818 Traditional Rental Income: $1514 Airbnb ROI: 0.67% Traditional ROI: 11.19%
604 Orchard Street Dowagiac, MI Welcome to 604 Orchard Street! Renovated in 2025, this home features a new roof, vinyl sid...	5 beds \| 2 baths \| 2,334 sq.ft.	$259,900	Airbnb cash on cash: 9.01% Traditional cash on cash: 8.94% Airbnb Rental Income: $3474 Traditional Rental Income: $2690 Airbnb ROI: 9.01% Traditional ROI: 8.94%
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.	$199,000	Airbnb cash on cash: 0.29% Traditional cash on cash: 5.67% Airbnb Rental Income: $818 Traditional Rental Income: $1509 Airbnb ROI: 0.29% Traditional ROI: 5.67%
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: 0.12% Traditional cash on cash: 4.36% Airbnb Rental Income: $818 Traditional Rental Income: $1454 Airbnb ROI: 0.12% Traditional ROI: 4.36%
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: 2.85% Traditional cash on cash: 6.43% Airbnb Rental Income: $1663 Traditional Rental Income: $2042 Airbnb ROI: 2.85% Traditional ROI: 6.43%
423 E Division Street Dowagiac, MI Spacious 3-Unit Investment Property with garage & Large Yard. The property features three ...	4 beds \| N/A baths \| N/A	$199,900	Airbnb cash on cash: 5.45% Traditional cash on cash: 5.91% Airbnb Rental Income: $2085 Traditional Rental Income: $1636 Airbnb ROI: 5.45% Traditional ROI: 5.91%
55945 Inn D Inn Drive Dowagiac, MI Location, Location, Location! This home offers all the perks of being near Indian Lake wit...	4 beds \| 2 baths \| 2,900 sq.ft.	$430,000	Airbnb cash on cash: 1.82% Traditional cash on cash: 4.77% Airbnb Rental Income: $2085 Traditional Rental Income: $2734 Airbnb ROI: 1.82% Traditional ROI: 4.77%
31273 County Line Road Dowagiac, MI Early spring price improvement. Magician Lakefront home with a rare 110 lakefront feet and...	4 beds \| 2 baths \| 2,266 sq.ft.	$1,299,000	Airbnb cash on cash: -0.82% Traditional cash on cash: 0.39% Airbnb Rental Income: $2085 Traditional Rental Income: $3007 Airbnb ROI: -0.82% Traditional ROI: 0.39%
29131 W M 62 W Dowagiac, MI Move right in and enjoy this beautifully updated 3 bedroom, 2 bath home offering comfort a...	3 beds \| 2 baths \| 1,560 sq.ft.	$227,900	Airbnb cash on cash: 3.6% Traditional cash on cash: 9.38% Airbnb Rental Income: $1663 Traditional Rental Income: $2443 Airbnb ROI: 3.6% Traditional ROI: 9.38%
105 Lester Avenue Dowagiac, MI *Seller is offering a permanent 1% mortgage rate buy-down for qualified buyers, helping re...	3 beds \| 2 baths \| 1,304 sq.ft.	$279,900	Airbnb cash on cash: 3.13% Traditional cash on cash: 6.72% Airbnb Rental Income: $1663 Traditional Rental Income: $2142 Airbnb ROI: 3.13% Traditional ROI: 6.72%
102 N Mill Street Dowagiac, MI *Seller is offering a permanent 1% mortgage rate buy-down for qualified buyers, helping re...	3 beds \| 2 baths \| 1,304 sq.ft.	$274,900	Airbnb cash on cash: 3.2% Traditional cash on cash: 6.74% Airbnb Rental Income: $1663 Traditional Rental Income: $2113 Airbnb ROI: 3.2% Traditional ROI: 6.74%
20990 Crane Street Dowagiac, MI Craving privacy, nature, and a fresh air? This beautifully updated 3 bed 2 bath home sits ...	3 beds \| 2 baths \| 1,000 sq.ft.	$240,000	Airbnb cash on cash: 2.81% Traditional cash on cash: 4.92% Airbnb Rental Income: $1663 Traditional Rental Income: $1676 Airbnb ROI: 2.81% Traditional ROI: 4.92%
60123 Dailey Road Dowagiac, MI If you've been looking for a little extra space and a quieter setting, this 3-bedroom, 2-b...	3 beds \| 2 baths \| 1,334 sq.ft.	$159,000	Airbnb cash on cash: 5.34% Traditional cash on cash: 11.15% Airbnb Rental Income: $1663 Traditional Rental Income: $2080 Airbnb ROI: 5.34% Traditional ROI: 11.15%
29460 M 62 W Dowagiac, MI MOTIVATED SELLER!!! Nestled on 4.65 scenic acres, this charming 2-bedroom, 1-bath home off...	2 beds \| 1 baths \| 912 sq.ft.	$235,000	Airbnb cash on cash: -0.05% Traditional cash on cash: 4.53% Airbnb Rental Income: $818 Traditional Rental Income: $1509 Airbnb ROI: -0.05% Traditional ROI: 4.53%
32745 Haley Road Dowagiac, MI Newly listed lake house across the street from Little Crooked Lake in Sister Lakes, Michig...	3 beds \| 2 baths \| 1,420 sq.ft.	$384,500	Airbnb cash on cash: 1.09% Traditional cash on cash: 3.68% Airbnb Rental Income: $1663 Traditional Rental Income: $2131 Airbnb ROI: 1.09% Traditional ROI: 3.68%
29216 Saddlebred Lane Dowagiac, MI Set on a generous half-acre in quiet neighborhood just minutes from Casino, this beautiful...	3 beds \| 2 baths \| 1,404 sq.ft.	$359,000	Airbnb cash on cash: 2.02% Traditional cash on cash: 4.94% Airbnb Rental Income: $1663 Traditional Rental Income: $2180 Airbnb ROI: 2.02% Traditional ROI: 4.94%
24962 Dewey Lake Street Dowagiac, MI 1.11-acre lot - Ranch layout 3-bedroom, 1-bath ranch offering 960 sq ft above grade with a...	3 beds \| 1 baths \| 960 sq.ft.	$150,000	Airbnb cash on cash: 6.07% Traditional cash on cash: 7.48% Airbnb Rental Income: $1663 Traditional Rental Income: $1399 Airbnb ROI: 6.07% Traditional ROI: 7.48%
54879 Indian Lake Dowagiac, MI Looking for view & access of Indian Lake just footsteps to water's edge? This fantastic fi...	3 beds \| 3 baths \| 1,850 sq.ft.	$385,000	Airbnb cash on cash: 1.39% Traditional cash on cash: 6.29% Airbnb Rental Income: $1663 Traditional Rental Income: $2967 Airbnb ROI: 1.39% Traditional ROI: 6.29%
29542 Priest Street Dowagiac, MI Located near Sister Lakes, this stunning 3-bedroom, 2-bath country home sits on over an ac...	3 beds \| 2 baths \| 1,008 sq.ft.	$410,000	Airbnb cash on cash: 1.36% Traditional cash on cash: 3.04% Airbnb Rental Income: $1663 Traditional Rental Income: $1842 Airbnb ROI: 1.36% Traditional ROI: 3.04%
92957 M 152 Dowagiac, MI Pole Barn, Pool & Room to Play! This beautiful property sits on nearly 3 acres and offers ...	4 beds \| 1 baths \| 1,832 sq.ft.	$309,000	Airbnb cash on cash: 2.53% Traditional cash on cash: 3.26% Airbnb Rental Income: $2085 Traditional Rental Income: $1760 Airbnb ROI: 2.53% Traditional ROI: 3.26%
29847 Middle Crossing Road Dowagiac, MI Tucked into a peaceful, tree lined Silver Creek Township setting, this Cape Cod-inspired r...	3 beds \| 3 baths \| 2,352 sq.ft.	$349,900	Airbnb cash on cash: 1.49% Traditional cash on cash: 6.5% Airbnb Rental Income: $1663 Traditional Rental Income: $2841 Airbnb ROI: 1.49% Traditional ROI: 6.5%
306 W Telegraph Street Dowagiac, MI Welcome to this charming 3 bedroom home. This spacious home has a bonus room (leads to the...	3 beds \| 2 baths \| 2,118 sq.ft.	$275,000	Airbnb cash on cash: 2.64% Traditional cash on cash: 7.45% Airbnb Rental Income: $1663 Traditional Rental Income: $2445 Airbnb ROI: 2.64% Traditional ROI: 7.45%
50575 West Lakeshore Drive Dowagiac, MI Don't miss this rare opportunity to purchase a combined, double lot w/100' of sandy beachf...	3 beds \| 2 baths \| 2,885 sq.ft.	$1,265,000	Airbnb cash on cash: -0.72% Traditional cash on cash: 0.7% Airbnb Rental Income: $1663 Traditional Rental Income: $2873 Airbnb ROI: -0.72% Traditional ROI: 0.7%
30396 Peavine Street Dowagiac, MI Country home located on 1 acre. This 3 bedroom, 1 1/2 bath home with attached garage and a...	3 beds \| 2 baths \| 1,120 sq.ft.	$259,000	Airbnb cash on cash: 3% Traditional cash on cash: 5.86% Airbnb Rental Income: $1663 Traditional Rental Income: $1897 Airbnb ROI: 3% Traditional ROI: 5.86%
29376 Saddlebred Lane Dowagiac, MI Located in Saddlebred subdivision, this 3 Bedroom, 3 full Bath Ranch includes a full Basem...	3 beds \| 3 baths \| 1,868 sq.ft.	$399,900	Airbnb cash on cash: 1.28% Traditional cash on cash: 4.94% Airbnb Rental Income: $1663 Traditional Rental Income: $2567 Airbnb ROI: 1.28% Traditional ROI: 4.94%
24599 Linden Street Dowagiac, MI Nestled at the end of Linden Street in Twin Lakes, this impeccably maintained 3-bedroom, 2...	3 beds \| 2 baths \| 1,155 sq.ft.	$252,500	Airbnb cash on cash: 3.28% Traditional cash on cash: 6.16% Airbnb Rental Income: $1663 Traditional Rental Income: $1883 Airbnb ROI: 3.28% Traditional ROI: 6.16%
501 2nd Avenue Dowagiac, MI Charming and affordable 3 bedroom, 1-bath home with great potential! Whether you're lookin...	3 beds \| 1 baths \| 987 sq.ft.	$119,500	Airbnb cash on cash: 7.87% Traditional cash on cash: 10.11% Airbnb Rental Income: $1663 Traditional Rental Income: $1455 Airbnb ROI: 7.87% Traditional ROI: 10.11%

Real Estate investment in Dowagiac, MI

There are 42 properties for sale in the city of Dowagiac . The median list price in Dowagiac is $255,750 and the average price per square foot is $171. In May 2026, the average monthly cash on cash return in Dowagiac is 6.00%. The average monthly rental income in Dowagiac is $2,042.

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

There are 42 investment properties available for sale in Dowagiac.

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

The ROI for Long-Term is higher than the Short-Term in Dowagiac with average rental income of $2,042.

Your search for investment property begins and ends here

Investment Property for Sale in Dowagiac, MI

108 Hill Street

Dowagiac, MI

3 beds | 3 baths | 2,136 sq.ft.

$190,000

Airbnb cash on cash: 3.18%

Traditional cash on cash: 11.18%

Airbnb Rental Income: $1663

Traditional Rental Income: $2641

Airbnb ROI: 3.18%

Traditional ROI: 11.18%

50085 E Lake Shore Drive

Dowagiac, MI

2 beds | 2 baths | 1,034 sq.ft.

$270,000

Airbnb cash on cash: -0.28%

Traditional cash on cash: 4.89%

Airbnb Rental Income: $818

Traditional Rental Income: $1809

Airbnb ROI: -0.28%

Traditional ROI: 4.89%

67404 Victory Shore Drive #6

Dowagiac, MI

2 beds | 2 baths | 528 sq.ft.

$199,000

Airbnb cash on cash: -0.76%

Traditional cash on cash: 4.86%

Airbnb Rental Income: $818

Traditional Rental Income: $1554

Airbnb ROI: -0.76%

Traditional ROI: 4.86%

53815 Glenwood Road

Dowagiac, MI

2 beds | 1 baths | 1,248 sq.ft.

$580,000

Airbnb cash on cash: -0.62%

Traditional cash on cash: 2.12%

Airbnb Rental Income: $818

Traditional Rental Income: $1977

Airbnb ROI: -0.62%

Traditional ROI: 2.12%

33320 Ridenour Road

Dowagiac, MI

2 beds | 2 baths | 1,152 sq.ft.

$199,000

Airbnb cash on cash: 0.61%

Traditional cash on cash: 8.22%

Airbnb Rental Income: $818

Traditional Rental Income: $1930

Airbnb ROI: 0.61%

Traditional ROI: 8.22%

307 E Telegraph Street

Dowagiac, MI

2 beds | 1 baths | 887 sq.ft.

$116,900

Airbnb cash on cash: 2.01%

Traditional cash on cash: 7.11%

Airbnb Rental Income: $818

Traditional Rental Income: $1068

Airbnb ROI: 2.01%

Traditional ROI: 7.11%

401 Keene Avenue

Dowagiac, MI

3 beds | 1 baths | 1,380 sq.ft.

$125,000

Airbnb cash on cash: 7.4%

Traditional cash on cash: 7.07%

Airbnb Rental Income: $1663

Traditional Rental Income: $1157

Airbnb ROI: 7.4%

Traditional ROI: 7.07%

66476 Oak Street

Dowagiac, MI

2 beds | N/A baths | N/A

$99,900

Airbnb cash on cash: 0.67%

Traditional cash on cash: 11.19%

Airbnb Rental Income: $818

Traditional Rental Income: $1514

Airbnb ROI: 0.67%