Real Estate Investment Properties for Sale in Kalkaska, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
5041 Maple Knoll Drive NE Kalkaska, MI Charming all-sports lakefront property on beautiful Manistee Lake offering the perfect fou...	2 beds \| 2 baths \| 957 sq.ft.	$599,900	Airbnb cash on cash: -1.47% Traditional cash on cash: 1.26% Airbnb Rental Income: $632 Traditional Rental Income: $1865 Airbnb ROI: -1.47% Traditional ROI: 1.26%
1158 EAST LAKE DRIVE Kalkaska, MI Lakeside living is yours for the summer, and it doesn't get much easier than this! What y...	2 beds \| 1 baths \| 720 sq.ft.	$249,900	Airbnb cash on cash: -1.48% Traditional cash on cash: 3.81% Airbnb Rental Income: $632 Traditional Rental Income: $1588 Airbnb ROI: -1.48% Traditional ROI: 3.81%
1021 W KALKASKA ROAD Kalkaska, MI Fantastic location in Kalkaska and truly move-in ready! This inviting home offers 1,440 sq...	3 beds \| 1 baths \| 2,880 sq.ft.	$299,900	Airbnb cash on cash: 0.27% Traditional cash on cash: 4.29% Airbnb Rental Income: $1286 Traditional Rental Income: $2017 Airbnb ROI: 0.27% Traditional ROI: 4.29%
493 NE County Road 571 Kalkaska, MI Horse Lover's Delight! 30 acre setting 7 miles from Kalkaska, 23 miles from Flint Fields ...	2 beds \| 1 baths \| 672 sq.ft.	$450,000	Airbnb cash on cash: -1.95% Traditional cash on cash: 1.05% Airbnb Rental Income: $632 Traditional Rental Income: $1601 Airbnb ROI: -1.95% Traditional ROI: 1.05%
204 N Orange Street Kalkaska, MI Find your forever home right here in Kalkaska! This 3 bedroom 2 bath home has been recentl...	3 beds \| 2 baths \| 1,462 sq.ft.	$359,900	Airbnb cash on cash: -0.19% Traditional cash on cash: 2.94% Airbnb Rental Income: $1286 Traditional Rental Income: $1938 Airbnb ROI: -0.19% Traditional ROI: 2.94%
4029 E Shore Drive NE #3 Kalkaska, MI Sunsets come standard at this fully furnished waterfront condo perched on the peaceful sho...	3 beds \| 2 baths \| 1,164 sq.ft.	$365,000	Airbnb cash on cash: 0.4% Traditional cash on cash: 4.32% Airbnb Rental Income: $1286 Traditional Rental Income: $2227 Airbnb ROI: 0.4% Traditional ROI: 4.32%
714 SE Saunders Road Kalkaska, MI Beautiful private setting close to town this newly built home offers the comfort of the co...	3 beds \| 2 baths \| 1,431 sq.ft.	$315,000	Airbnb cash on cash: 0.78% Traditional cash on cash: 6.09% Airbnb Rental Income: $1286 Traditional Rental Income: $2455 Airbnb ROI: 0.78% Traditional ROI: 6.09%
10723 Black Bear Road Kalkaska, MI Tucked away on nearly 1 acre with 100 feet of private frontage on peaceful Cub Lake, this ...	2 beds \| 1 baths \| 1,204 sq.ft.	$299,900	Airbnb cash on cash: -1.4% Traditional cash on cash: 4.28% Airbnb Rental Income: $632 Traditional Rental Income: $1939 Airbnb ROI: -1.4% Traditional ROI: 4.28%
5611 NE EAST SHORE DRIVE Kalkaska, MI Welcome to your serene retreat at 5611 NE East Shore Drive in Kalkaska. This charming ranc...	3 beds \| 2 baths \| 1,438 sq.ft.	$249,000	Airbnb cash on cash: 2.16% Traditional cash on cash: 8.22% Airbnb Rental Income: $1286 Traditional Rental Income: $2308 Airbnb ROI: 2.16% Traditional ROI: 8.22%
4328 N Shore Drive Kalkaska, MI Fabulous & Affordable Lakefront Retreat! Move-in ready 3BR, 2BA home on a wonderful all-sp...	3 beds \| 2 baths \| 1,120 sq.ft.	$324,900	Airbnb cash on cash: 0.79% Traditional cash on cash: 5.14% Airbnb Rental Income: $1286 Traditional Rental Income: $2210 Airbnb ROI: 0.79% Traditional ROI: 5.14%
7033 NE WC Cross Drive Kalkaska, MI Room to Grow on the waterfront! The best in 4 seasons of fun! Check out this inviting fu...	2 beds \| 1 baths \| 832 sq.ft.	$284,999	Airbnb cash on cash: -0.26% Traditional cash on cash: 4.59% Airbnb Rental Income: $632 Traditional Rental Income: $1639 Airbnb ROI: -0.26% Traditional ROI: 4.59%
6017 NE MYERS ROAD Kalkaska, MI Discover your new retreat in beautiful Kalkaska, where nature and comfort blend seamlessly...	3 beds \| 2 baths \| 1,232 sq.ft.	$169,000	Airbnb cash on cash: 3.38% Traditional cash on cash: 10.54% Airbnb Rental Income: $1286 Traditional Rental Income: $2037 Airbnb ROI: 3.38% Traditional ROI: 10.54%
5532 Kerbysons Drive SE Kalkaska, MI Your Up North Oasis Awaits on East Lake in KALKASKA COUNTY. Swan Dive or Cannon Ball int...	2 beds \| 2 baths \| 2,000 sq.ft.	$349,900	Airbnb cash on cash: -0.4% Traditional cash on cash: 7.13% Airbnb Rental Income: $632 Traditional Rental Income: $2811 Airbnb ROI: -0.4% Traditional ROI: 7.13%
11436 Lakeview Road NE Kalkaska, MI It's not too late...this 'Treehouse' in Michigan assures your enjoyment through all four s...	3 beds \| 3 baths \| 3,000 sq.ft.	$799,900	Airbnb cash on cash: -1.55% Traditional cash on cash: 1.98% Airbnb Rental Income: $1286 Traditional Rental Income: $3516 Airbnb ROI: -1.55% Traditional ROI: 1.98%
1570 NE Kettle Lake Road Kalkaska, MI Welcome to this charming 2-bed, 1-bath home nestled into a wonderfully peaceful and privat...	2 beds \| 1 baths \| 960 sq.ft.	$185,000	Airbnb cash on cash: -1.12% Traditional cash on cash: 6.81% Airbnb Rental Income: $632 Traditional Rental Income: $1733 Airbnb ROI: -1.12% Traditional ROI: 6.81%
1967 NE Fairways Drive Kalkaska, MI Charming 3-bedroom, 2-bath home tucked into a peaceful, wooded setting in the desirable Fa...	3 beds \| 2 baths \| 1,860 sq.ft.	$330,000	Airbnb cash on cash: 0.56% Traditional cash on cash: 6.13% Airbnb Rental Income: $1286 Traditional Rental Income: $2609 Airbnb ROI: 0.56% Traditional ROI: 6.13%
7149 W Blue Lake Road, Ne Kalkaska, MI Welcome to this inviting 3-bedroom, 2-bath home perfectly situated on a corner lot within ...	3 beds \| 2 baths \| 1,456 sq.ft.	$229,900	Airbnb cash on cash: 1.82% Traditional cash on cash: 9.82% Airbnb Rental Income: $1286 Traditional Rental Income: $2622 Airbnb ROI: 1.82% Traditional ROI: 9.82%
411 S WALNUT STREET Kalkaska, MI Charming farmhouse-style home located in the village of Kalkaska! This inviting property o...	3 beds \| 2 baths \| 1,794 sq.ft.	$375,000	Airbnb cash on cash: 0.29% Traditional cash on cash: 0.57% Airbnb Rental Income: $1286 Traditional Rental Income: $981 Airbnb ROI: 0.29% Traditional ROI: 0.57%
302 W Dresden Street Kalkaska, MI Just reduced! You won't believe this remodeled home is not brand new! Welcome home, to yo...	5 beds \| 4 baths \| 3,096 sq.ft.	$470,000	Airbnb cash on cash: 0.64% Traditional cash on cash: 6.39% Airbnb Rental Income: $1257 Traditional Rental Income: $3388 Airbnb ROI: 0.64% Traditional ROI: 6.39%
207 Division Street Kalkaska, MI Truly a home you need to view the interior to appreciate. Improvements over the past few y...	2 beds \| 1 baths \| 768 sq.ft.	$194,900	Airbnb cash on cash: -1.19% Traditional cash on cash: 4.72% Airbnb Rental Income: $632 Traditional Rental Income: $1432 Airbnb ROI: -1.19% Traditional ROI: 4.72%
4640 E Circle Drive NE Kalkaska, MI Welcome Home to 4640 East Circle Drive NE, Kalkaska! This charming two-bedroom, two-b...	2 beds \| 2 baths \| 988 sq.ft.	$205,000	Airbnb cash on cash: -1.26% Traditional cash on cash: 5.87% Airbnb Rental Income: $632 Traditional Rental Income: $1723 Airbnb ROI: -1.26% Traditional ROI: 5.87%
1397 SE RILEY ROAD Kalkaska, MI Welcome to your private slice of paradise! Nestled on 5 beautiful acres, this spacious 3-b...	3 beds \| 3 baths \| 2,150 sq.ft.	$429,900	Airbnb cash on cash: -0.57% Traditional cash on cash: 4.89% Airbnb Rental Income: $1286 Traditional Rental Income: $3079 Airbnb ROI: -0.57% Traditional ROI: 4.89%
4960 Pine Drive Kalkaska, MI CHARMING 2â3 BEDROOM HOME WITH BEAUTIFUL LAKE VIEWS! This immaculate property showcases ...	2 beds \| 1 baths \| 1,100 sq.ft.	$234,900	Airbnb cash on cash: -0.52% Traditional cash on cash: 5.58% Airbnb Rental Income: $632 Traditional Rental Income: $1693 Airbnb ROI: -0.52% Traditional ROI: 5.58%
10852 NE BLACK BEAR ROAD Kalkaska, MI The completely remodeled home will make anyone smile, from upscale stainless appliances, a...	3 beds \| 3 baths \| 1,718 sq.ft.	$559,000	Airbnb cash on cash: -0.74% Traditional cash on cash: 2.44% Airbnb Rental Income: $1286 Traditional Rental Income: $2544 Airbnb ROI: -0.74% Traditional ROI: 2.44%
304 Lincoln Street Kalkaska, MI Move in ready home in the heart of the village. Brand new construction with elevated ceili...	2 beds \| 1 baths \| 1,200 sq.ft.	$265,900	Airbnb cash on cash: -1.54% Traditional cash on cash: 4.48% Airbnb Rental Income: $632 Traditional Rental Income: $1849 Airbnb ROI: -1.54% Traditional ROI: 4.48%
837 Pontius Road SE Kalkaska, MI Totally remodeled home on 2.5 acres, private setting. 3 bedroom, 1 bath, lots of updates i...	3 beds \| 1 baths \| 1,000 sq.ft.	$189,900	Airbnb cash on cash: 2.94% Traditional cash on cash: 7.24% Airbnb Rental Income: $1286 Traditional Rental Income: $1658 Airbnb ROI: 2.94% Traditional ROI: 7.24%
318 E Bear Lake Road Kalkaska, MI This year round 3 bedroom, 1 bath home or up north cabin is renovated and in move-in condi...	3 beds \| 1 baths \| 1,040 sq.ft.	$239,900	Airbnb cash on cash: 0.96% Traditional cash on cash: 4.68% Airbnb Rental Income: $1286 Traditional Rental Income: $1726 Airbnb ROI: 0.96% Traditional ROI: 4.68%
1134 SE East Lake Drive Kalkaska, MI FIXER UPPER PROPERTY. Up north cottage for sale, in the heart of Kalkaska County. It does ...	2 beds \| 1 baths \| 1,200 sq.ft.	$139,900	Airbnb cash on cash: -0.69% Traditional cash on cash: 10.72% Airbnb Rental Income: $632 Traditional Rental Income: $1868 Airbnb ROI: -0.69% Traditional ROI: 10.72%
2276 Birchcrest Drive Kalkaska, MI Turn-key waterfront retreat with private dock and access to all-sports Bear Lake -- fully ...	4 beds \| 2 baths \| 1,380 sq.ft.	$489,000	Airbnb cash on cash: 0.83% Traditional cash on cash: 2.72% Airbnb Rental Income: $2182 Traditional Rental Income: $2492 Airbnb ROI: 0.83% Traditional ROI: 2.72%
5590 Kerbysons Drive SE Kalkaska, MI Welcome to your lakefront home on East Lake! Set on 75 feet of sandy private frontage, thi...	2 beds \| 2 baths \| 1,558 sq.ft.	$499,900	Airbnb cash on cash: -2% Traditional cash on cash: 3.16% Airbnb Rental Income: $632 Traditional Rental Income: $2751 Airbnb ROI: -2% Traditional ROI: 3.16%
5738 NE Rita Drive Kalkaska, MI Experience true Northern Michigan living with this custom-built chalet-style home on beaut...	3 beds \| 2 baths \| 1,890 sq.ft.	$549,900	Airbnb cash on cash: 0.12% Traditional cash on cash: 3.98% Airbnb Rental Income: $1286 Traditional Rental Income: $2869 Airbnb ROI: 0.12% Traditional ROI: 3.98%
1811 NE Twin Birch Road Kalkaska, MI You would be proud to call this place home !! Located across from Twin Birch Golf Course o...	3 beds \| 3 baths \| 2,958 sq.ft.	$479,900	Airbnb cash on cash: -0.77% Traditional cash on cash: 4.41% Airbnb Rental Income: $1286 Traditional Rental Income: $3208 Airbnb ROI: -0.77% Traditional ROI: 4.41%
10778 Black Bear Road NE Kalkaska, MI WOW-It's almost like a fairytale setting...this beautiful home sits on 6 acres up on the h...	3 beds \| 3 baths \| 3,344 sq.ft.	$499,000	Airbnb cash on cash: 0.04% Traditional cash on cash: 4.42% Airbnb Rental Income: $1286 Traditional Rental Income: $2927 Airbnb ROI: 0.04% Traditional ROI: 4.42%
458 W Bear Lake Road Kalkaska, MI One look at this beautiful chalet and you will want to call it home. Nestled between Cub ...	3 beds \| 2 baths \| 1,956 sq.ft.	$419,999	Airbnb cash on cash: -0.52% Traditional cash on cash: 0.65% Airbnb Rental Income: $1286 Traditional Rental Income: $1344 Airbnb ROI: -0.52% Traditional ROI: 0.65%
5948 SE Kniss Road Kalkaska, MI Welcome to your own slice of Northern Michigan freedom. Set on 24 private acres surrounded...	2 beds \| 2 baths \| 1,344 sq.ft.	$300,000	Airbnb cash on cash: -0.57% Traditional cash on cash: 5.42% Airbnb Rental Income: $632 Traditional Rental Income: $2028 Airbnb ROI: -0.57% Traditional ROI: 5.42%
7939 NE Beechnut Street Kalkaska, MI What a charming Cottage !! check out some of the history. 2005-2013 : Cottage strip to the...	2 beds \| 1 baths \| 800 sq.ft.	$159,900	Airbnb cash on cash: -0.07% Traditional cash on cash: 8.56% Airbnb Rental Income: $632 Traditional Rental Income: $1655 Airbnb ROI: -0.07% Traditional ROI: 8.56%
1508 NE County Road 571 Kalkaska, MI Great home looking for its new owners! Country living at its best with plenty of room insi...	3 beds \| 2 baths \| 1,410 sq.ft.	$259,000	Airbnb cash on cash: 1.69% Traditional cash on cash: 7.27% Airbnb Rental Income: $1286 Traditional Rental Income: $2247 Airbnb ROI: 1.69% Traditional ROI: 7.27%
1515 NE W Bear Lake Road Kalkaska, MI Up North enthusiasts â this is the getaway youâve been waiting for! Perfect as a four-...	2 beds \| 1 baths \| 960 sq.ft.	$249,000	Airbnb cash on cash: -0.33% Traditional cash on cash: 4.6% Airbnb Rental Income: $632 Traditional Rental Income: $1497 Airbnb ROI: -0.33% Traditional ROI: 4.6%
602 Lincoln Street Kalkaska, MI Welcome to this well-maintained 4-bedroom, 1.5-bathroom home with 1,400 square feet and a ...	4 beds \| 2 baths \| 1,598 sq.ft.	$325,000	Airbnb cash on cash: 3.08% Traditional cash on cash: 5.85% Airbnb Rental Income: $2182 Traditional Rental Income: $2476 Airbnb ROI: 3.08% Traditional ROI: 5.85%
12635 SE Piper Circle Kalkaska, MI Tucked away in a serene Northern Michigan setting, this exceptional 11.53-acre property of...	1 beds \| 1 baths \| 600 sq.ft.	$160,000	Airbnb cash on cash: -2.66% Traditional cash on cash: 5.86% Airbnb Rental Income: $114 Traditional Rental Income: $1208 Airbnb ROI: -2.66% Traditional ROI: 5.86%

Real Estate investment in Kalkaska, MI

There are 41 properties for sale in the city of Kalkaska . The median list price in Kalkaska is $299,950 and the average price per square foot is $202. In May 2026, the average monthly cash on cash return in Kalkaska is 5.00%. The average monthly rental income in Kalkaska is $2,017.

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

There are 41 investment properties available for sale in Kalkaska.

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

The ROI for Short-Term is higher than the Long-Term in Kalkaska with average rental income of $1,286.

Your search for investment property begins and ends here

Investment Property for Sale in Kalkaska, MI

5041 Maple Knoll Drive NE

Kalkaska, MI

2 beds | 2 baths | 957 sq.ft.

$599,900

Airbnb cash on cash: -1.47%

Traditional cash on cash: 1.26%

Airbnb Rental Income: $632

Traditional Rental Income: $1865

Airbnb ROI: -1.47%

Traditional ROI: 1.26%

1158 EAST LAKE DRIVE

Kalkaska, MI

2 beds | 1 baths | 720 sq.ft.

$249,900

Airbnb cash on cash: -1.48%

Traditional cash on cash: 3.81%

Airbnb Rental Income: $632

Traditional Rental Income: $1588

Airbnb ROI: -1.48%

Traditional ROI: 3.81%

1021 W KALKASKA ROAD

Kalkaska, MI

3 beds | 1 baths | 2,880 sq.ft.

$299,900

Airbnb cash on cash: 0.27%

Traditional cash on cash: 4.29%

Airbnb Rental Income: $1286

Traditional Rental Income: $2017

Airbnb ROI: 0.27%

Traditional ROI: 4.29%

493 NE County Road 571

Kalkaska, MI

2 beds | 1 baths | 672 sq.ft.

$450,000

Airbnb cash on cash: -1.95%

Traditional cash on cash: 1.05%

Airbnb Rental Income: $632

Traditional Rental Income: $1601

Airbnb ROI: -1.95%

Traditional ROI: 1.05%

204 N Orange Street

Kalkaska, MI

3 beds | 2 baths | 1,462 sq.ft.

$359,900

Airbnb cash on cash: -0.19%

Traditional cash on cash: 2.94%

Airbnb Rental Income: $1286

Traditional Rental Income: $1938

Airbnb ROI: -0.19%

Traditional ROI: 2.94%

4029 E Shore Drive NE #3

Kalkaska, MI

3 beds | 2 baths | 1,164 sq.ft.

$365,000

Airbnb cash on cash: 0.4%

Traditional cash on cash: 4.32%

Airbnb Rental Income: $1286

Traditional Rental Income: $2227

Airbnb ROI: 0.4%

Traditional ROI: 4.32%

714 SE Saunders Road

Kalkaska, MI

3 beds | 2 baths | 1,431 sq.ft.

$315,000

Airbnb cash on cash: 0.78%

Traditional cash on cash: 6.09%

Airbnb Rental Income: $1286

Traditional Rental Income: $2455

Airbnb ROI: 0.78%

Traditional ROI: 6.09%

10723 Black Bear Road

Kalkaska, MI

2 beds | 1 baths | 1,204 sq.ft.

$299,900

Airbnb cash on cash: -1.4%

Traditional cash on cash: 4.28%

Airbnb Rental Income: $632

Traditional Rental Income: $1939

Airbnb ROI: -1.4%