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

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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: 0.31% Traditional cash on cash: 6.75% Airbnb Rental Income: $1220 Traditional Rental Income: $2498 Airbnb ROI: 0.31% Traditional ROI: 6.75%
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: -0.31% Traditional cash on cash: 3.7% Airbnb Rental Income: $1220 Traditional Rental Income: $2126 Airbnb ROI: -0.31% Traditional ROI: 3.7%
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: -0.54% Traditional cash on cash: 6.21% Airbnb Rental Income: $641 Traditional Rental Income: $1784 Airbnb ROI: -0.54% Traditional ROI: 6.21%
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: -2.74% Traditional cash on cash: -0.21% Airbnb Rental Income: $251 Traditional Rental Income: $884 Airbnb ROI: -2.74% 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: 2.88% Traditional cash on cash: 8.21% Airbnb Rental Income: $1220 Traditional Rental Income: $1691 Airbnb ROI: 2.88% 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: -1.54% Traditional cash on cash: -0.14% Airbnb Rental Income: $1220 Traditional Rental Income: $1869 Airbnb ROI: -1.54% Traditional ROI: -0.14%
5589 Pershing Place Grayling, MI Nestled amidst the serene nature of the AuSable River lies another remarkable Royal Stag p...	4 beds \| 2 baths \| 1,176 sq.ft.	$799,000	Airbnb cash on cash: -2.19% Traditional cash on cash: 0.25% Airbnb Rental Income: $641 Traditional Rental Income: $2161 Airbnb ROI: -2.19% Traditional ROI: 0.25%
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: -1.34% Traditional cash on cash: 0.39% Airbnb Rental Income: $251 Traditional Rental Income: $1626 Airbnb ROI: -1.34% 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: -1.09% Traditional cash on cash: 6.03% Airbnb Rental Income: $641 Traditional Rental Income: $2619 Airbnb ROI: -1.09% 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: -0.24% Traditional cash on cash: 8.07% Airbnb Rental Income: $641 Traditional Rental Income: $2590 Airbnb ROI: -0.24% 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: 2.68% Traditional cash on cash: 7.56% Airbnb Rental Income: $1189 Traditional Rental Income: $1636 Airbnb ROI: 2.68% Traditional ROI: 7.56%
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: 1.68% Traditional cash on cash: 7.85% Airbnb Rental Income: $1189 Traditional Rental Income: $2087 Airbnb ROI: 1.68% Traditional ROI: 7.85%
5844 Keipinger Trail Grayling, MI This exceptional home offers peace of mind and plenty of space, both inside and out. Situa...	3 beds \| 2 baths \| 1,352 sq.ft.	$209,000	Airbnb cash on cash: 2.15% Traditional cash on cash: 8.49% Airbnb Rental Income: $1220 Traditional Rental Income: $2083 Airbnb ROI: 2.15% Traditional ROI: 8.49%
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: N/A Traditional cash on cash: 8.26% Airbnb Rental Income: $null Traditional Rental Income: $2639 Airbnb ROI: N/A Traditional ROI: 8.26%
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.	$225,000	Airbnb cash on cash: 1.91% Traditional cash on cash: 5.28% Airbnb Rental Income: $1189 Traditional Rental Income: $1520 Airbnb ROI: 1.91% Traditional ROI: 5.28%
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: N/A Traditional cash on cash: 2% Airbnb Rental Income: $null Traditional Rental Income: $4232 Airbnb ROI: N/A 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: 1.83% Traditional cash on cash: 10.71% Airbnb Rental Income: $1220 Traditional Rental Income: $2652 Airbnb ROI: 1.83% 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.	$469,500	Airbnb cash on cash: -0.19% Traditional cash on cash: 1.21% Airbnb Rental Income: $1189 Traditional Rental Income: $1417 Airbnb ROI: -0.19% Traditional ROI: 1.21%
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: -0.86% Traditional cash on cash: 1.42% Airbnb Rental Income: $622 Traditional Rental Income: $1171 Airbnb ROI: -0.86% 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: 3.02% Traditional cash on cash: 7.43% Airbnb Rental Income: $1220 Traditional Rental Income: $1460 Airbnb ROI: 3.02% Traditional ROI: 7.43%
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.	$407,000	Airbnb cash on cash: 0.4% Traditional cash on cash: 4.75% Airbnb Rental Income: $1189 Traditional Rental Income: $2464 Airbnb ROI: 0.4% Traditional ROI: 4.75%
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: 1.68% Traditional cash on cash: 4.54% Airbnb Rental Income: $1189 Traditional Rental Income: $1464 Airbnb ROI: 1.68% Traditional ROI: 4.54%
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: 1.04% Traditional cash on cash: 4.61% Airbnb Rental Income: $1189 Traditional Rental Income: $1513 Airbnb ROI: 1.04% Traditional ROI: 4.61%
6206 Libby Road Grayling, MI	2 beds \| 1 baths \| 936 sq.ft.	$124,900	Airbnb cash on cash: 4.17% Traditional cash on cash: 8.04% Airbnb Rental Income: $1189 Traditional Rental Income: $1268 Airbnb ROI: 4.17% Traditional ROI: 8.04%
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: 1.13% Traditional cash on cash: 4.54% Airbnb Rental Income: $1220 Traditional Rental Income: $1791 Airbnb ROI: 1.13% 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.	$179,900	Airbnb cash on cash: 2.87% Traditional cash on cash: 7.44% Airbnb Rental Income: $1189 Traditional Rental Income: $1584 Airbnb ROI: 2.87% Traditional ROI: 7.44%
2676 Kirkland Drive Grayling, MI OPEN HOUSE THIS WEEKEND SEPTEMBER 13TH FROM 10AM TO 1;00 PM. Cute and cozy cabin on Big Cr...	2 beds \| 1 baths \| 1,180 sq.ft.	$210,000	Airbnb cash on cash: 2.04% Traditional cash on cash: 6.62% Airbnb Rental Income: $1189 Traditional Rental Income: $1713 Airbnb ROI: 2.04% Traditional ROI: 6.62%
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.	$549,900	Airbnb cash on cash: -0.2% Traditional cash on cash: 4.37% Airbnb Rental Income: $1189 Traditional Rental Income: $3151 Airbnb ROI: -0.2% Traditional ROI: 4.37%
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: N/A Traditional cash on cash: 8.05% Airbnb Rental Income: $null Traditional Rental Income: $3284 Airbnb ROI: N/A 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: 0.89% Traditional cash on cash: 4.2% Airbnb Rental Income: $1220 Traditional Rental Income: $2068 Airbnb ROI: 0.89% 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: $1220 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.	$179,900	Airbnb cash on cash: 1.78% Traditional cash on cash: 7.33% Airbnb Rental Income: $1220 Traditional Rental Income: $1779 Airbnb ROI: 1.78% Traditional ROI: 7.33%
705 Plum Street Grayling, MI Grayling Fixer-Upper - Prime In-Town Location Near Schools! Opportunity knocks in the hear...	2 beds \| 1 baths \| 832 sq.ft.	$115,000	Airbnb cash on cash: 4.67% Traditional cash on cash: 9.59% Airbnb Rental Income: $1189 Traditional Rental Income: $1348 Airbnb ROI: 4.67% Traditional ROI: 9.59%
3655 Juniper Way Grayling, MI This beautiful ranch-style home offers 125 feet of frontage on the scenic AuSable River, p...	3 beds \| 2 baths \| 1,232 sq.ft.	$329,900	Airbnb cash on cash: 0.72% Traditional cash on cash: 4.98% Airbnb Rental Income: $1220 Traditional Rental Income: $2150 Airbnb ROI: 0.72% Traditional ROI: 4.98%
9008 Marsh Creek Trail Grayling, MI	2 beds \| 1 baths \| 576 sq.ft.	$350,000	Airbnb cash on cash: 0.36% Traditional cash on cash: 1.92% Airbnb Rental Income: $1189 Traditional Rental Income: $1312 Airbnb ROI: 0.36% Traditional ROI: 1.92%

Real Estate investment in Grayling, MI

There are 36 properties for sale in the city of Grayling . The median list price in Grayling is $260,000 and the average price per square foot is $163. In September 2025, the average monthly cash on cash return in Grayling is 6.00%. The average monthly rental income in Grayling is $1,791.

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

There are 36 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 $1,791.

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: 0.31%

Traditional cash on cash: 6.75%

Airbnb Rental Income: $1220

Traditional Rental Income: $2498

Airbnb ROI: 0.31%

Traditional ROI: 6.75%

3140 Northeast Trail

Grayling, MI

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

$345,000

Airbnb cash on cash: -0.31%

Traditional cash on cash: 3.7%

Airbnb Rental Income: $1220

Traditional Rental Income: $2126

Airbnb ROI: -0.31%

Traditional ROI: 3.7%

403 Erie Street

Grayling, MI

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

$225,000

Airbnb cash on cash: -0.54%

Traditional cash on cash: 6.21%

Airbnb Rental Income: $641

Traditional Rental Income: $1784

Airbnb ROI: -0.54%

Traditional ROI: 6.21%

602 MAPLE ST

Grayling, MI

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

$365,000

Airbnb cash on cash: -2.74%

Traditional cash on cash: -0.21%

Airbnb Rental Income: $251

Traditional Rental Income: $884

Airbnb ROI: -2.74%

Traditional ROI: -0.21%

3014 E N Down River Road

Grayling, MI

3 beds | 2 baths | 1,144 sq.ft.

$169,900

Airbnb cash on cash: 2.88%

Traditional cash on cash: 8.21%

Airbnb Rental Income: $1220

Traditional Rental Income: $1691

Airbnb ROI: 2.88%

Traditional ROI: 8.21%

5477 and 5466 Pershing Place

Grayling, MI

3 beds | 2 baths | 990 sq.ft.

$799,000

Airbnb cash on cash: -1.54%

Traditional cash on cash: -0.14%

Airbnb Rental Income: $1220

Traditional Rental Income: $1869

Airbnb ROI: -1.54%

Traditional ROI: -0.14%

5589 Pershing Place

Grayling, MI

4 beds | 2 baths | 1,176 sq.ft.

$799,000

Airbnb cash on cash: -2.19%

Traditional cash on cash: 0.25%

Airbnb Rental Income: $641

Traditional Rental Income: $2161

Airbnb ROI: -2.19%

Traditional ROI: 0.25%

4869 Brighton Circle N

Grayling, MI

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

$995,000

Airbnb cash on cash: -1.34%

Traditional cash on cash: 0.39%

Airbnb Rental Income: $251

Traditional Rental Income: $1626

Airbnb ROI: -1.34%