Real Estate Investment Properties for Sale in Grayling, MI

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

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

separator

PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
4642 W Five Mile Road Grayling, MI Welcome to this charming raised ranch brick home set on 2.5 peaceful acres! Featuring 3 be...	3 beds \| 2 baths \| 2,240 sq.ft.	$275,000	Airbnb cash on cash: 0.35% Traditional cash on cash: 6.75% Airbnb Rental Income: $1233 Traditional Rental Income: $2498 Airbnb ROI: 0.35% Traditional ROI: 6.75%
11208 RED DOG TRAIL Grayling, MI Recently ranked the #1 fly-fishing destination in America by USA Today, the majestic Au Sa...	2 beds \| 2 baths \| 1,465 sq.ft.	$800,000	Airbnb cash on cash: -0.65% Traditional cash on cash: 1.27% Airbnb Rental Income: $1195 Traditional Rental Income: $2236 Airbnb ROI: -0.65% Traditional ROI: 1.27%
2142 Eaton Trail Grayling, MI 80 Acres (m/l) bordering US Forest Service property on 3 sides. Cabin features include 148...	4 beds \| 2 baths \| 1,486 sq.ft.	$398,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.46% Airbnb Rental Income: $null Traditional Rental Income: $2332 Airbnb ROI: N/A Traditional ROI: 3.46%
3140 Northeast Trail Grayling, MI Welcome to Warblers Hideaway, a community with plenty of association amenities to enjoy. T...	3 beds \| 2 baths \| 1,526 sq.ft.	$345,000	Airbnb cash on cash: -0.28% Traditional cash on cash: 3.7% Airbnb Rental Income: $1233 Traditional Rental Income: $2126 Airbnb ROI: -0.28% Traditional ROI: 3.7%
3126 S Portage Avenue Grayling, MI Nestled on the shores of Lake Margrethe, this fully furnished, cozy and historic 4-bed, 1....	4 beds \| 2 baths \| 1,885 sq.ft.	$549,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.12% Airbnb Rental Income: $null Traditional Rental Income: $2799 Airbnb ROI: N/A Traditional ROI: 3.12%
403 Erie Street Grayling, MI Location is everything. 1 block from Grayling Hospital, School, The Brook, Daycare & Dr/De...	4 beds \| 1 baths \| 1,650 sq.ft.	$225,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.21% Airbnb Rental Income: $null Traditional Rental Income: $1784 Airbnb ROI: N/A Traditional ROI: 6.21%
2493 S Horseshoe Trail Grayling, MI This home sits on 10 private acres and has plenty of room to store all of your recreationa...	3 beds \| 1 baths \| 1,078 sq.ft.	$199,900	Airbnb cash on cash: 2.2% Traditional cash on cash: 5.87% Airbnb Rental Income: $1233 Traditional Rental Income: $1534 Airbnb ROI: 2.2% Traditional ROI: 5.87%
602 MAPLE ST Grayling, MI Invest with success and buy through Auction.com. This bank-owned investment property is a ...	N/A beds \| N/A baths \| N/A	$365,000	Airbnb cash on cash: -2.63% Traditional cash on cash: -0.21% Airbnb Rental Income: $293 Traditional Rental Income: $884 Airbnb ROI: -2.63% Traditional ROI: -0.21%
3014 E N Down River Road Grayling, MI Cozy and cared-for 3-bed / 2-bath home with a full unfinished basement and a 30x40 pole ba...	3 beds \| 2 baths \| 1,144 sq.ft.	$169,900	Airbnb cash on cash: 2.95% Traditional cash on cash: 8.21% Airbnb Rental Income: $1233 Traditional Rental Income: $1691 Airbnb ROI: 2.95% Traditional ROI: 8.21%
5477 and 5466 Pershing Place Grayling, MI This breathtaking property offers the perfect blend of rustic charm and modern comfort. Si...	3 beds \| 2 baths \| 990 sq.ft.	$799,000	Airbnb cash on cash: -1.53% Traditional cash on cash: -0.14% Airbnb Rental Income: $1233 Traditional Rental Income: $1869 Airbnb ROI: -1.53% Traditional ROI: -0.14%
4869 Brighton Circle N Grayling, MI Value Add Opportunity!!! Licensed for 49 Lots with its own private utilities, this park...	N/A beds \| N/A baths \| N/A	$995,000	Airbnb cash on cash: -1.3% Traditional cash on cash: 0.39% Airbnb Rental Income: $293 Traditional Rental Income: $1626 Airbnb ROI: -1.3% Traditional ROI: 0.39%
277 Wendy Lane Grayling, MI AuSable River frontage!! 175' of prime frontage with no commercial canoe traffic. Home boa...	4 beds \| 2 baths \| 1,700 sq.ft.	$340,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.03% Airbnb Rental Income: $null Traditional Rental Income: $2619 Airbnb ROI: N/A Traditional ROI: 6.03%
15968 M-72 Grayling, MI Price Improvement TWO HOMES!! Manufactured home with an attached, 2+ car garage and lea...	4 beds \| 3 baths \| 1,768 sq.ft.	$287,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.07% Airbnb Rental Income: $null Traditional Rental Income: $2590 Airbnb ROI: N/A Traditional ROI: 8.07%
15831 SE M 72 Grayling, MI Turn key Barndominium!!! Right in the heart of Northern Michigans playground!!! This taste...	2 beds \| 2 baths \| 968 sq.ft.	$179,900	Airbnb cash on cash: 2.71% Traditional cash on cash: 7.56% Airbnb Rental Income: $1195 Traditional Rental Income: $1636 Airbnb ROI: 2.71% Traditional ROI: 7.56%
1114 Moffatt Trail Grayling, MI Nestled on a tranquil 1-acre setting with 167 feet of private frontage on the renowned AuS...	3 beds \| 3 baths \| 1,686 sq.ft.	$419,000	Airbnb cash on cash: -0.4% Traditional cash on cash: 4.25% Airbnb Rental Income: $1233 Traditional Rental Income: $2664 Airbnb ROI: -0.4% Traditional ROI: 4.25%
8727 S Oak Road Grayling, MI Great hunting property and or residency, many deer have been seen on this property. Discov...	2 beds \| 2 baths \| 1,600 sq.ft.	$220,000	Airbnb cash on cash: 1.71% Traditional cash on cash: 7.85% Airbnb Rental Income: $1195 Traditional Rental Income: $2087 Airbnb ROI: 1.71% Traditional ROI: 7.85%
701 Chestnut Street Grayling, MI Perfectly preserved early 20th Century craftsmanship of bounds in this beautiful classic h...	5 beds \| 2 baths \| 2,250 sq.ft.	$260,000	Airbnb cash on cash: 2.56% Traditional cash on cash: 8.26% Airbnb Rental Income: $1716 Traditional Rental Income: $2639 Airbnb ROI: 2.56% Traditional ROI: 8.26%
2733 Timberlane Grayling, MI Nestled on two spacious lots, and backing up to Warbler's Hideaway common property, with d...	2 beds \| 1 baths \| 855 sq.ft.	$169,900	Airbnb cash on cash: 2.95% Traditional cash on cash: 6.75% Airbnb Rental Income: $1195 Traditional Rental Income: $1422 Airbnb ROI: 2.95% Traditional ROI: 6.75%
2741 E M-72 Grayling, MI Charming 2-Bedroom Ranch on 3.65 Acres - Nature Lover's Paradise! Don't miss this well-mai...	2 beds \| 1 baths \| 1,048 sq.ft.	$227,000	Airbnb cash on cash: 1.9% Traditional cash on cash: 5.22% Airbnb Rental Income: $1195 Traditional Rental Income: $1520 Airbnb ROI: 1.9% Traditional ROI: 5.22%
5605 Pershing Place Grayling, MI Escape to the beauty of Northern Michigan with this exceptional 5 bed, 3.5 bath cabin nest...	5 beds \| 4 baths \| 2,324 sq.ft.	$1,345,000	Airbnb cash on cash: -0.39% Traditional cash on cash: 2% Airbnb Rental Income: $1716 Traditional Rental Income: $4232 Airbnb ROI: -0.39% Traditional ROI: 2%
36 S McMasters Bridge Road Grayling, MI This property boasts 4.5 acres (m/l) and is adjacent to land managed by the Michigan Depar...	3 beds \| 3 baths \| 2,040 sq.ft.	$216,900	Airbnb cash on cash: 1.89% Traditional cash on cash: 10.71% Airbnb Rental Income: $1233 Traditional Rental Income: $2652 Airbnb ROI: 1.89% Traditional ROI: 10.71%
9143 N Lakeshore Drive Grayling, MI 50' ON LAKE MARGRETHE (1900 ACRES) ALL SPORTS LAKE. Beautiful views of Lake Margrethe and ...	2 beds \| 1 baths \| 847 sq.ft.	$475,000	Airbnb cash on cash: -0.19% Traditional cash on cash: 1.18% Airbnb Rental Income: $1195 Traditional Rental Income: $1417 Airbnb ROI: -0.19% Traditional ROI: 1.18%
2498 W Five Mile Road Grayling, MI CABIN WITH 60.5 ACRES WITH STATE LAND ON 2 SIDES. POLE BARN 30 x 40 with electric. Recreat...	1 beds \| 1 baths \| 845 sq.ft.	$395,000	Airbnb cash on cash: -0.57% Traditional cash on cash: 1.42% Airbnb Rental Income: $747 Traditional Rental Income: $1171 Airbnb ROI: -0.57% Traditional ROI: 1.42%
2969 Cambay Trail Grayling, MI This is an awesome Up North getaway! Whether you hunt, fish, camp, or just want to get awa...	3 beds \| 1 baths \| 962 sq.ft.	$150,000	Airbnb cash on cash: 3.1% Traditional cash on cash: 7.43% Airbnb Rental Income: $1233 Traditional Rental Income: $1460 Airbnb ROI: 3.1% Traditional ROI: 7.43%
2475 S Stephan Bridge Grayling, MI 11 acres of beautiful trees surround this 3-bedroom, 2 bathroom ranch home that includes m...	3 beds \| 2 baths \| 1,109 sq.ft.	$184,900	Airbnb cash on cash: 2.27% Traditional cash on cash: 8.61% Airbnb Rental Income: $1233 Traditional Rental Income: $1953 Airbnb ROI: 2.27% Traditional ROI: 8.61%
1172 Trails End Grayling, MI Beautifully maintained home on 5 acres just minutes from downtown Grayling! This 2-bedroom...	2 beds \| 1 baths \| 2,160 sq.ft.	$280,000	Airbnb cash on cash: 0.66% Traditional cash on cash: 3.34% Airbnb Rental Income: $1195 Traditional Rental Income: $1514 Airbnb ROI: 0.66% Traditional ROI: 3.34%
7286 Smith Trail Grayling, MI Great 10 acre parcel secluded in Lovells Township. This 3 bedroom, 2 bath home has a lot t...	3 beds \| 2 baths \| 1,542 sq.ft.	$199,000	Airbnb cash on cash: 1.9% Traditional cash on cash: 8.89% Airbnb Rental Income: $1233 Traditional Rental Income: $2158 Airbnb ROI: 1.9% Traditional ROI: 8.89%
6960 Trem Pal Grayling, MI Enjoy private mainstream AuSable riverfront access - beautifully set in the woods on a dea...	2 beds \| 2 baths \| 1,728 sq.ft.	$425,000	Airbnb cash on cash: 0.35% Traditional cash on cash: 4.51% Airbnb Rental Income: $1195 Traditional Rental Income: $2464 Airbnb ROI: 0.35% Traditional ROI: 4.51%
2706 NEWATCH AVENUE Grayling, MI Welcome to your dream getaway! Nestled along the pristine Au Sable River, this beautifully...	2 beds \| 1 baths \| 945 sq.ft.	$245,000	Airbnb cash on cash: 1.7% Traditional cash on cash: 4.54% Airbnb Rental Income: $1195 Traditional Rental Income: $1464 Airbnb ROI: 1.7% Traditional ROI: 4.54%
11461 Baldwin Road Grayling, MI Welcome to your private off-grid retreat! Nestled on 10 beautiful wooded acres that direct...	3 beds \| 1 baths \| 1,001 sq.ft.	$120,000	Airbnb cash on cash: 4.23% Traditional cash on cash: 9.64% Airbnb Rental Income: $1233 Traditional Rental Income: $1465 Airbnb ROI: 4.23% Traditional ROI: 9.64%
8294 Julie Lane Grayling, MI Secluded 4+ acres, located at the end of Julie Lane off Six Mile RD near the Grayling Moos...	2 beds \| 2 baths \| 1,220 sq.ft.	$210,000	Airbnb cash on cash: 1.07% Traditional cash on cash: 4.61% Airbnb Rental Income: $1195 Traditional Rental Income: $1513 Airbnb ROI: 1.07% Traditional ROI: 4.61%
14628 Club Circle Grayling, MI A classic cottage on a classic setting on the pristine waters of the Manistee River in the...	3 beds \| 1 baths \| 1,180 sq.ft.	$299,900	Airbnb cash on cash: 1.17% Traditional cash on cash: 4.54% Airbnb Rental Income: $1233 Traditional Rental Income: $1791 Airbnb ROI: 1.17% Traditional ROI: 4.54%
1952 S Stephan Bridge Road Grayling, MI Fabulous Cabin Retreat Near the Au Sable River! Looking for the perfect Up North getaway? ...	2 beds \| 1 baths \| 1,160 sq.ft.	$189,900	Airbnb cash on cash: 2.7% Traditional cash on cash: 7.01% Airbnb Rental Income: $1195 Traditional Rental Income: $1584 Airbnb ROI: 2.7% Traditional ROI: 7.01%
2676 Kirkland Drive Grayling, MI Cute and cozy cabin on Big Creek within Warbler's Hideaway. This property boats two lots a...	2 beds \| 1 baths \| 1,180 sq.ft.	$225,000	Airbnb cash on cash: 1.87% Traditional cash on cash: 6.12% Airbnb Rental Income: $1195 Traditional Rental Income: $1713 Airbnb ROI: 1.87% Traditional ROI: 6.12%
3935 Tara Lane Grayling, MI Timber built home, very beautiful and hard to find in Grayling Township. This home has an ...	2 beds \| 4 baths \| 4,100 sq.ft.	$575,000	Airbnb cash on cash: -0.22% Traditional cash on cash: 4.14% Airbnb Rental Income: $1195 Traditional Rental Income: $3151 Airbnb ROI: -0.22% Traditional ROI: 4.14%
8994 S Oak Grayling, MI 5 bedrooms, 3 bathrooms with over 3,600sq ft on just over an acre. 30x40 pole barn plenty ...	5 beds \| 3 baths \| 3,652 sq.ft.	$350,000	Airbnb cash on cash: 1.83% Traditional cash on cash: 8.05% Airbnb Rental Income: $1716 Traditional Rental Income: $3284 Airbnb ROI: 1.83% Traditional ROI: 8.05%
935 Robinhood Lane Grayling, MI Beautifully maintained custom saltbox home with a full finished basement and plenty of ext...	3 beds \| 2 baths \| 3,439 sq.ft.	$400,000	Airbnb cash on cash: 0.92% Traditional cash on cash: 4.2% Airbnb Rental Income: $1233 Traditional Rental Income: $2068 Airbnb ROI: 0.92% Traditional ROI: 4.2%
10032 Washington Grayling, MI Amazing, immaculate ranch just a short walk to Lake Margrethe, DNR boat launch& only 4 mil...	3 beds \| 3 baths \| 1,716 sq.ft.	$312,000	Airbnb cash on cash: 0.02% Traditional cash on cash: 5.61% Airbnb Rental Income: $1233 Traditional Rental Income: $2480 Airbnb ROI: 0.02% Traditional ROI: 5.61%
4240 Diamond Drive Grayling, MI Looking for your perfect getaway or full-time residence in Northern Michigan? This charmin...	3 beds \| 2 baths \| 1,076 sq.ft.	$190,000	Airbnb cash on cash: 1.61% Traditional cash on cash: 6.82% Airbnb Rental Income: $1233 Traditional Rental Income: $1779 Airbnb ROI: 1.61% Traditional ROI: 6.82%

Real Estate investment in Grayling, MI

There are 40 properties for sale in the city of Grayling . The median list price in Grayling is $275,000 and the average price per square foot is $173. In September 2025, the average monthly cash on cash return in Grayling is 6.00%. The average monthly rental income in Grayling is $1,869.

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

There are 40 investment properties available for sale in Grayling.

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

The ROI for Long-Term is higher than the Short-Term in Grayling with average rental income of $1,869.

Your search for investment property begins and ends here

Investment Property for Sale in Grayling, MI

4642 W Five Mile Road

Grayling, MI

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

$275,000

Airbnb cash on cash: 0.35%

Traditional cash on cash: 6.75%

Airbnb Rental Income: $1233

Traditional Rental Income: $2498

Airbnb ROI: 0.35%

Traditional ROI: 6.75%

11208 RED DOG TRAIL

Grayling, MI

2 beds | 2 baths | 1,465 sq.ft.

$800,000

Airbnb cash on cash: -0.65%

Traditional cash on cash: 1.27%

Airbnb Rental Income: $1195

Traditional Rental Income: $2236

Airbnb ROI: -0.65%

Traditional ROI: 1.27%

2142 Eaton Trail

Grayling, MI

4 beds | 2 baths | 1,486 sq.ft.

$398,900

Airbnb cash on cash: N/A

Traditional cash on cash: 3.46%

Airbnb Rental Income: $null

Traditional Rental Income: $2332

Airbnb ROI: N/A

Traditional ROI: 3.46%

3140 Northeast Trail

Grayling, MI

3 beds | 2 baths | 1,526 sq.ft.

$345,000

Airbnb cash on cash: -0.28%

Traditional cash on cash: 3.7%

Airbnb Rental Income: $1233

Traditional Rental Income: $2126

Airbnb ROI: -0.28%

Traditional ROI: 3.7%

3126 S Portage Avenue

Grayling, MI

4 beds | 2 baths | 1,885 sq.ft.

$549,000

Airbnb cash on cash: N/A

Traditional cash on cash: 3.12%

Airbnb Rental Income: $null

Traditional Rental Income: $2799

Airbnb ROI: N/A

Traditional ROI: 3.12%

403 Erie Street

Grayling, MI

4 beds | 1 baths | 1,650 sq.ft.

$225,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.21%

Airbnb Rental Income: $null

Traditional Rental Income: $1784

Airbnb ROI: N/A

Traditional ROI: 6.21%

2493 S Horseshoe Trail

Grayling, MI

3 beds | 1 baths | 1,078 sq.ft.

$199,900

Airbnb cash on cash: 2.2%

Traditional cash on cash: 5.87%

Airbnb Rental Income: $1233

Traditional Rental Income: $1534

Airbnb ROI: 2.2%

Traditional ROI: 5.87%

602 MAPLE ST

Grayling, MI

N/A beds | N/A baths | N/A

$365,000

Airbnb cash on cash: -2.63%

Traditional cash on cash: -0.21%

Airbnb Rental Income: $293

Traditional Rental Income: $884

Airbnb ROI: -2.63%