Real Estate Investment Properties for Sale in Houghton Lake, MI

Looking for investment property in Houghton Lake, MI with high ROI ?

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
159 Dale Road Houghton Lake, MI Welcome to your dream waterfront retreat! This lake house offers 76 feet of prime frontage...	4 beds \| 2 baths \| 2,416 sq.ft.	$739,000	Airbnb cash on cash: -0.64% Traditional cash on cash: 1.78% Airbnb Rental Income: $1899 Traditional Rental Income: $3059 Airbnb ROI: -0.64% Traditional ROI: 1.78%
638 Old Trail Drive Houghton Lake, MI Charming 3-bedroom, 2.5 att garage - 2 full baths (1 has a shower) cottage/home located on...	3 beds \| 2 baths \| 1,008 sq.ft.	$194,900	Airbnb cash on cash: 2.1% Traditional cash on cash: 7.67% Airbnb Rental Income: $1364 Traditional Rental Income: $1979 Airbnb ROI: 2.1% Traditional ROI: 7.67%
365 Long Point Houghton Lake, MI Discover a family retreat where tranquility and comfort harmoniously blend. This charming ...	3 beds \| 2 baths \| 1,280 sq.ft.	$398,000	Airbnb cash on cash: 0.46% Traditional cash on cash: 4.44% Airbnb Rental Income: $1364 Traditional Rental Income: $2434 Airbnb ROI: 0.46% Traditional ROI: 4.44%
6390 West Houghton Lake Drive Houghton Lake, MI Super Cool & cute duplex cottage w/BOAT Dockage & 150 of private shared lake frontage with...	2 beds \| 2 baths \| N/A	$225,000	Airbnb cash on cash: -0.11% Traditional cash on cash: 3.62% Airbnb Rental Income: $967 Traditional Rental Income: $1412 Airbnb ROI: -0.11% Traditional ROI: 3.62%
108 Eastbrook Avenue Houghton Lake, MI Lakefront Home for Sale on Houghton Lake - Private Dock on the Deeper Side of the Lake. ...	3 beds \| 2 baths \| 1,233 sq.ft.	$529,000	Airbnb cash on cash: 0.04% Traditional cash on cash: 2.84% Airbnb Rental Income: $1364 Traditional Rental Income: $2332 Airbnb ROI: 0.04% Traditional ROI: 2.84%
116 Beechwood Avenue Houghton Lake, MI This delightful 2-bedroom, 1-bath home offers 816 sq. ft. of cozy living space with road e...	2 beds \| 1 baths \| 816 sq.ft.	$129,900	Airbnb cash on cash: 2.19% Traditional cash on cash: 8.84% Airbnb Rental Income: $967 Traditional Rental Income: $1447 Airbnb ROI: 2.19% Traditional ROI: 8.84%
108 Willow Street Houghton Lake, MI Charming ranch with 2 bedrooms, 2 full baths, plus a half bath in the garage. Situated acr...	2 beds \| 2 baths \| N/A	$224,900	Airbnb cash on cash: 1.01% Traditional cash on cash: 9.94% Airbnb Rental Income: $967 Traditional Rental Income: $2518 Airbnb ROI: 1.01% Traditional ROI: 9.94%
1092 Goldenrod Drive Houghton Lake, MI Great year around home or vacation getaway located in the Houghton Lake Forest Estates. Th...	3 beds \| 2 baths \| 1,314 sq.ft.	$239,900	Airbnb cash on cash: 1.79% Traditional cash on cash: 5.6% Airbnb Rental Income: $1364 Traditional Rental Income: $1811 Airbnb ROI: 1.79% Traditional ROI: 5.6%
6789 E Houghton Lake Drive Houghton Lake, MI ALL-YEAR-ROUND HOME VIBE - OUTDOOR SHOWER - STEPS TO THE LAKE - BOAT RAMP - MOORING RIGHTS...	3 beds \| 1 baths \| 1,056 sq.ft.	$249,900	Airbnb cash on cash: 1.34% Traditional cash on cash: 2.41% Airbnb Rental Income: $1364 Traditional Rental Income: $1202 Airbnb ROI: 1.34% Traditional ROI: 2.41%
119 Desoto Avenue Houghton Lake, MI This newly remodeled 3 bedroom, 2 bath home has some great amenities. It has been professi...	3 beds \| 2 baths \| 1,347 sq.ft.	$199,900	Airbnb cash on cash: 1.99% Traditional cash on cash: 10.99% Airbnb Rental Income: $1364 Traditional Rental Income: $2656 Airbnb ROI: 1.99% Traditional ROI: 10.99%
6366 W Houghton Lake Drive unit: 7/8 #7/8 Houghton Lake, MI Welcome to your year-round retreat in Houghton Lake! This delightful 2-bedroom, 2-bathroom...	2 beds \| 2 baths \| 800 sq.ft.	$129,900	Airbnb cash on cash: 0.83% Traditional cash on cash: 8.13% Airbnb Rental Income: $967 Traditional Rental Income: $1529 Airbnb ROI: 0.83% Traditional ROI: 8.13%
6222 W Emery Road Houghton Lake, MI This stunning custom-built home offers 3 bedrooms, 4 bathrooms, and 1,895 sq. ft. of livin...	3 beds \| 4 baths \| 1,895 sq.ft.	$348,917	Airbnb cash on cash: 0.79% Traditional cash on cash: 7.64% Airbnb Rental Income: $1364 Traditional Rental Income: $3192 Airbnb ROI: 0.79% Traditional ROI: 7.64%
605 Cedar Avenue Houghton Lake, MI Discover charm and potential in this inviting 2-bedroom, 1-bath home featuring timeless or...	2 beds \| 1 baths \| 696 sq.ft.	$109,900	Airbnb cash on cash: 2.33% Traditional cash on cash: 7.1% Airbnb Rental Income: $967 Traditional Rental Income: $1124 Airbnb ROI: 2.33% Traditional ROI: 7.1%
2757 Owens #58 & 59 Drive Houghton Lake, MI Seller's offering 12 months of paid HOA. In this quaint subdivision, commonly known as ''S...	2 beds \| 1 baths \| 480 sq.ft.	$126,900	Airbnb cash on cash: 2.85% Traditional cash on cash: 11.69% Airbnb Rental Income: $967 Traditional Rental Income: $1697 Airbnb ROI: 2.85% Traditional ROI: 11.69%
5167 E Houghton Lake Drive Houghton Lake, MI Welcome to 5167 E . Houghton Lake Drive. Beautiful Houghton Lake offers so many outdoor ac...	3 beds \| 3 baths \| 1,930 sq.ft.	$249,900	Airbnb cash on cash: 1.23% Traditional cash on cash: 10.82% Airbnb Rental Income: $1364 Traditional Rental Income: $3211 Airbnb ROI: 1.23% Traditional ROI: 10.82%
105 Mallard Avenue Houghton Lake, MI Beautifully maintained full-time residence or weekend cottage with road-end lake access to...	3 beds \| 1 baths \| 1,100 sq.ft.	$189,900	Airbnb cash on cash: 2.22% Traditional cash on cash: 3.62% Airbnb Rental Income: $1364 Traditional Rental Income: $1201 Airbnb ROI: 2.22% Traditional ROI: 3.62%
207 BUTTERFIELD Lane Houghton Lake, MI Charming ranch home in a quiet subdivision just a mile and half from Michigan's playground...	3 beds \| 1 baths \| 1,100 sq.ft.	$169,900	Airbnb cash on cash: 3.27% Traditional cash on cash: 8.76% Airbnb Rental Income: $1364 Traditional Rental Income: $1838 Airbnb ROI: 3.27% Traditional ROI: 8.76%
10360 West Shore Drive Houghton Lake, MI Private Waterfront Home, RV Park and rentals with approx. 200 feet of water frontage and t...	2 beds \| 2 baths \| 1,800 sq.ft.	$1,500,000	Airbnb cash on cash: -2.16% Traditional cash on cash: -0.32% Airbnb Rental Income: $967 Traditional Rental Income: $3172 Airbnb ROI: -2.16% Traditional ROI: -0.32%
116 Miami Drive Houghton Lake, MI Beautifully Updated Luxury Canal Front Home Discover your slice of paradise with this stun...	2 beds \| 2 baths \| 1,472 sq.ft.	$500,000	Airbnb cash on cash: -0.25% Traditional cash on cash: 2.95% Airbnb Rental Income: $967 Traditional Rental Income: $2113 Airbnb ROI: -0.25% Traditional ROI: 2.95%
615 Long Point Drive Houghton Lake, MI Adorable 3-bedroom, 1.5-bath furnished lakefront home located on a prime spot along Hought...	3 beds \| 2 baths \| 1,189 sq.ft.	$479,900	Airbnb cash on cash: -0.62% Traditional cash on cash: 1.58% Airbnb Rental Income: $1364 Traditional Rental Income: $1936 Airbnb ROI: -0.62% Traditional ROI: 1.58%
111 Nighthawk Drive Houghton Lake, MI Step into comfort w/this fully upgraded 3-bed 1-bath home nestled on a paved corner lot. F...	3 beds \| 1 baths \| 864 sq.ft.	$174,900	Airbnb cash on cash: 3.48% Traditional cash on cash: 6.63% Airbnb Rental Income: $1364 Traditional Rental Income: $1473 Airbnb ROI: 3.48% Traditional ROI: 6.63%
3113 Long Point Drive Houghton Lake, MI Here is your chance to own an extraordinary piece of property on Houghton Lake's highly de...	3 beds \| 2 baths \| 1,464 sq.ft.	$599,999	Airbnb cash on cash: -0.79% Traditional cash on cash: 2.07% Airbnb Rental Income: $1364 Traditional Rental Income: $2548 Airbnb ROI: -0.79% Traditional ROI: 2.07%
895 E Houghton Lake Drive Houghton Lake, MI She's a one in a million beauty on Houghotn Lake! This stunning, newly remodeled residence...	4 beds \| 3 baths \| 2,375 sq.ft.	$1,350,000	Airbnb cash on cash: -1.5% Traditional cash on cash: -0.11% Airbnb Rental Income: $1899 Traditional Rental Income: $3128 Airbnb ROI: -1.5% Traditional ROI: -0.11%
142 Questview Drive Houghton Lake, MI Welcome to this beautifully designed new-construction home located on the sought-after Que...	4 beds \| 3 baths \| 3,034 sq.ft.	$550,000	Airbnb cash on cash: -0.03% Traditional cash on cash: 3.45% Airbnb Rental Income: $1899 Traditional Rental Income: $3183 Airbnb ROI: -0.03% Traditional ROI: 3.45%
103 Grand Rapids Road Road Houghton Lake, MI The perfect opportunity for lake living! This property sits on calmer west side of Houghto...	2 beds \| 1 baths \| 960 sq.ft.	$129,000	Airbnb cash on cash: 1.93% Traditional cash on cash: 8.96% Airbnb Rental Income: $967 Traditional Rental Income: $1489 Airbnb ROI: 1.93% Traditional ROI: 8.96%
8110 Perry Road Houghton Lake, MI Welcome to Hidden Meadows Farm. Situated on almost 17 acres of gently rolling landscape, t...	3 beds \| 1 baths \| 1,374 sq.ft.	$399,900	Airbnb cash on cash: 0.98% Traditional cash on cash: 3.63% Airbnb Rental Income: $1364 Traditional Rental Income: $1941 Airbnb ROI: 0.98% Traditional ROI: 3.63%
3860 Tower Hill Houghton Lake, MI Plenty of potential on this 3BR 1Bath charming Chalet! Home has newer windows, siding, wat...	3 beds \| 1 baths \| 900 sq.ft.	$134,900	Airbnb cash on cash: 4.82% Traditional cash on cash: 10.54% Airbnb Rental Income: $1364 Traditional Rental Income: $1688 Airbnb ROI: 4.82% Traditional ROI: 10.54%
2740 S. Loxley Road Houghton Lake, MI One of a kind! In over a decade of being a land specialist for Whitetail Properties, I hav...	3 beds \| 5 baths \| 2,200 sq.ft.	$1,150,000	Airbnb cash on cash: -0.72% Traditional cash on cash: 1.92% Airbnb Rental Income: $1364 Traditional Rental Income: $3772 Airbnb ROI: -0.72% Traditional ROI: 1.92%
12320 E Houghton Lake Drive Houghton Lake, MI Land Contract Terms Available! Fully remodeled home with large garage and views of gorgeou...	3 beds \| 1 baths \| 1,390 sq.ft.	$183,900	Airbnb cash on cash: 3.19% Traditional cash on cash: 9.12% Airbnb Rental Income: $1364 Traditional Rental Income: $1985 Airbnb ROI: 3.19% Traditional ROI: 9.12%
206 Joliet Avenue Houghton Lake, MI Just like new! This 1527 square foot open concept home has been completely renovated! It i...	3 beds \| 2 baths \| 1,520 sq.ft.	$224,900	Airbnb cash on cash: 2.8% Traditional cash on cash: 10.43% Airbnb Rental Income: $1364 Traditional Rental Income: $2572 Airbnb ROI: 2.8% Traditional ROI: 10.43%
119 Desoto Ave AND 206 Joliet Ave Houghton Lake, MI Must see to believe! This unique multi-family property has been completely renovated and p...	3 beds \| 2 baths \| 1,347 sq.ft.	$449,900	Airbnb cash on cash: -0.5% Traditional cash on cash: 3.19% Airbnb Rental Income: $1364 Traditional Rental Income: $2499 Airbnb ROI: -0.5% Traditional ROI: 3.19%
9906 E Houghton Lake Drive Houghton Lake, MI Spacious and flexible 4-bedroom home with a possible 5th bedroom-currently used as a small...	4 beds \| 2 baths \| 2,477 sq.ft.	$230,000	Airbnb cash on cash: 4.47% Traditional cash on cash: 10.92% Airbnb Rental Income: $1899 Traditional Rental Income: $2798 Airbnb ROI: 4.47% Traditional ROI: 10.92%
202 Forestville Road Houghton Lake, MI Welcome to A Peaceful Houghton Lake Retreat! Set on two beautifully wooded lots in the de...	3 beds \| 2 baths \| 1,600 sq.ft.	$260,000	Airbnb cash on cash: 1.59% Traditional cash on cash: 7.48% Airbnb Rental Income: $1364 Traditional Rental Income: $2393 Airbnb ROI: 1.59% Traditional ROI: 7.48%
6891 E Houghton Lake Drive Houghton Lake, MI Affordable Lakefront Living on Houghton Lake! Don't miss this charming 2-bedroom, 1-bath c...	2 beds \| 1 baths \| 560 sq.ft.	$134,900	Airbnb cash on cash: 1.81% Traditional cash on cash: 8.52% Airbnb Rental Income: $967 Traditional Rental Income: $1486 Airbnb ROI: 1.81% Traditional ROI: 8.52%
607 Shoreline Drive Houghton Lake, MI Meticulously kept 4 bed 2 bath Lakeview home located in the heart of all that Houghton Lak...	5 beds \| 2 baths \| 1,896 sq.ft.	$419,900	Airbnb cash on cash: 6.36% Traditional cash on cash: 5.85% Airbnb Rental Income: $4206 Traditional Rental Income: $3119 Airbnb ROI: 6.36% Traditional ROI: 5.85%
8139 E Houghton Lake Drive unit: 1 #1 Houghton Lake, MI Enjoy the charm of lakeside living in this beautifully remodeled 2-bedroom, 1-bath cottage...	2 beds \| 1 baths \| 517 sq.ft.	$184,900	Airbnb cash on cash: 0.66% Traditional cash on cash: 5.36% Airbnb Rental Income: $967 Traditional Rental Income: $1443 Airbnb ROI: 0.66% Traditional ROI: 5.36%
127 Sandpiper Avenue Houghton Lake, MI Discover this cozy 2-bedroom, 1-bath home just steps from Michigan's largest inland lake! ...	2 beds \| 1 baths \| 744 sq.ft.	$159,900	Airbnb cash on cash: 1.32% Traditional cash on cash: 7.6% Airbnb Rental Income: $967 Traditional Rental Income: $1576 Airbnb ROI: 1.32% Traditional ROI: 7.6%
125 Wickham Avenue Houghton Lake, MI Welcome to your beautiful up-north retreat! This sweet home has everything you need for a ...	2 beds \| 1 baths \| 800 sq.ft.	$135,000	Airbnb cash on cash: 2.51% Traditional cash on cash: 8.48% Airbnb Rental Income: $967 Traditional Rental Income: $1392 Airbnb ROI: 2.51% Traditional ROI: 8.48%

Real Estate investment in Houghton-lake, MI

There are 82 properties for sale in the city of Houghton Lake . The median list price in Houghton Lake is $224,900 and the average price per square foot is $159. In September 2025, the average monthly cash on cash return in Houghton Lake is 7.00%. The average monthly rental income in Houghton Lake is $1,985.

Houghton-lake, MI Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 82 investment properties available for sale in Houghton-lake.

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

The ROI for Long-Term is higher than the Short-Term in Houghton-lake with average rental income of $1,985.

Your search for investment property begins and ends here

Investment Property for Sale in Houghton Lake, MI

159 Dale Road

Houghton Lake, MI

4 beds | 2 baths | 2,416 sq.ft.

$739,000

Airbnb cash on cash: -0.64%

Traditional cash on cash: 1.78%

Airbnb Rental Income: $1899

Traditional Rental Income: $3059

Airbnb ROI: -0.64%

Traditional ROI: 1.78%

638 Old Trail Drive

Houghton Lake, MI

3 beds | 2 baths | 1,008 sq.ft.

$194,900

Airbnb cash on cash: 2.1%

Traditional cash on cash: 7.67%

Airbnb Rental Income: $1364

Traditional Rental Income: $1979

Airbnb ROI: 2.1%

Traditional ROI: 7.67%

365 Long Point

Houghton Lake, MI

3 beds | 2 baths | 1,280 sq.ft.

$398,000

Airbnb cash on cash: 0.46%

Traditional cash on cash: 4.44%

Airbnb Rental Income: $1364

Traditional Rental Income: $2434

Airbnb ROI: 0.46%

Traditional ROI: 4.44%

6390 West Houghton Lake Drive

Houghton Lake, MI

2 beds | 2 baths | N/A

$225,000

Airbnb cash on cash: -0.11%

Traditional cash on cash: 3.62%

Airbnb Rental Income: $967

Traditional Rental Income: $1412

Airbnb ROI: -0.11%

Traditional ROI: 3.62%

108 Eastbrook Avenue

Houghton Lake, MI

3 beds | 2 baths | 1,233 sq.ft.

$529,000

Airbnb cash on cash: 0.04%

Traditional cash on cash: 2.84%

Airbnb Rental Income: $1364

Traditional Rental Income: $2332

Airbnb ROI: 0.04%

Traditional ROI: 2.84%

116 Beechwood Avenue

Houghton Lake, MI

2 beds | 1 baths | 816 sq.ft.

$129,900

Airbnb cash on cash: 2.19%

Traditional cash on cash: 8.84%

Airbnb Rental Income: $967

Traditional Rental Income: $1447

Airbnb ROI: 2.19%

Traditional ROI: 8.84%

108 Willow Street

Houghton Lake, MI

2 beds | 2 baths | N/A

$224,900

Airbnb cash on cash: 1.01%

Traditional cash on cash: 9.94%

Airbnb Rental Income: $967

Traditional Rental Income: $2518

Airbnb ROI: 1.01%

Traditional ROI: 9.94%

1092 Goldenrod Drive

Houghton Lake, MI

3 beds | 2 baths | 1,314 sq.ft.

$239,900

Airbnb cash on cash: 1.79%

Traditional cash on cash: 5.6%

Airbnb Rental Income: $1364

Traditional Rental Income: $1811

Airbnb ROI: 1.79%