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
922 W Bear Lake Road NE Kalkaska, MI Welcome to Bear Lake in Kalkaska! One of Northern Michiganâs most coveted all-sports lak...	3 beds \| 2 baths \| 1,520 sq.ft.	$699,900	Airbnb cash on cash: -1.02% Traditional cash on cash: 1.42% Airbnb Rental Income: $1523 Traditional Rental Income: $2669 Airbnb ROI: -1.02% Traditional ROI: 1.42%
103 Arbor Street Kalkaska, MI This Quaint farmhouse is a must see and ready to move in! It's been nicely kept with 3 bed...	3 beds \| 1 baths \| 1,120 sq.ft.	$250,000	Airbnb cash on cash: 1.66% Traditional cash on cash: 4.96% Airbnb Rental Income: $1523 Traditional Rental Income: $1860 Airbnb ROI: 1.66% Traditional ROI: 4.96%
933 Old M-72 Kalkaska, MI Private setting on 5 acres with 330' of private frontage on Little Rapid River, known for ...	3 beds \| 2 baths \| 2,240 sq.ft.	$295,000	Airbnb cash on cash: 1.03% Traditional cash on cash: 7.78% Airbnb Rental Income: $1523 Traditional Rental Income: $2955 Airbnb ROI: 1.03% Traditional ROI: 7.78%
330 East Trail Kalkaska, MI Updates galore for this 1 story ranch home with a finished walkout basement on 5.59 acres ...	5 beds \| 2 baths \| 2,841 sq.ft.	$369,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.32% Airbnb Rental Income: $null Traditional Rental Income: $2867 Airbnb ROI: N/A Traditional ROI: 6.32%
1539 NE Katinka Drive Kalkaska, MI Welcome to easy, single-story living in the heart of Kalkaska, the "Trout Capital of Michi...	3 beds \| 1 baths \| 1,008 sq.ft.	$228,000	Airbnb cash on cash: 2.06% Traditional cash on cash: 5.28% Airbnb Rental Income: $1523 Traditional Rental Income: $1776 Airbnb ROI: 2.06% Traditional ROI: 5.28%
7558 NE Timberline Street Kalkaska, MI Step into lakeside living with this thoughtfully remodeled 4-bedroom, 3-bath cottage offer...	4 beds \| 3 baths \| 2,100 sq.ft.	$699,000	Airbnb cash on cash: 0.39% Traditional cash on cash: 2.6% Airbnb Rental Income: $2174 Traditional Rental Income: $3058 Airbnb ROI: 0.39% Traditional ROI: 2.6%
7609 Shore Road, NE Kalkaska, MI Sandy Beachfront Living on Manistee Lake Wake up to breathtaking sunrises and sunsets on t...	3 beds \| 2 baths \| 1,100 sq.ft.	$549,999	Airbnb cash on cash: -0.61% Traditional cash on cash: 1.52% Airbnb Rental Income: $1523 Traditional Rental Income: $2171 Airbnb ROI: -0.61% Traditional ROI: 1.52%
1965 Bunker Drive NE Kalkaska, MI Welcome to 1965 Bunker Drive! Nestled on just under an acre and surrounded by mature hardw...	3 beds \| 2 baths \| 1,688 sq.ft.	$334,900	Airbnb cash on cash: 1.14% Traditional cash on cash: 5.56% Airbnb Rental Income: $1523 Traditional Rental Income: $2472 Airbnb ROI: 1.14% Traditional ROI: 5.56%
819 Charlene Drive NE Kalkaska, MI Discover this beautifully remodeled four-bedroom, two-bathroom home, ideally located just ...	4 beds \| 2 baths \| 1,536 sq.ft.	$299,000	Airbnb cash on cash: 4.16% Traditional cash on cash: 7.23% Airbnb Rental Income: $2174 Traditional Rental Income: $2488 Airbnb ROI: 4.16% Traditional ROI: 7.23%
110 W 4th Street Kalkaska, MI Great Kalkaska Opportunity! This can be used as 2 homes or 1 home with a garage /shop. G...	3 beds \| 2 baths \| 2,000 sq.ft.	$230,000	Airbnb cash on cash: 2.81% Traditional cash on cash: 9.49% Airbnb Rental Income: $1523 Traditional Rental Income: $2533 Airbnb ROI: 2.81% Traditional ROI: 9.49%
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: 1.45% Traditional cash on cash: 6.09% Airbnb Rental Income: $1523 Traditional Rental Income: $2455 Airbnb ROI: 1.45% Traditional ROI: 6.09%
5203 NE Myers Road Kalkaska, MI New Construction home. Located near the OVR trail system and Manistee Lake. Only a 35 mi...	3 beds \| 2 baths \| 1,563 sq.ft.	$320,900	Airbnb cash on cash: 2.21% Traditional cash on cash: 7.14% Airbnb Rental Income: $1523 Traditional Rental Income: $2567 Airbnb ROI: 2.21% Traditional ROI: 7.14%
5960 N Trail SE Kalkaska, MI 15.3 acres located in Kalkaska County, in the heart of Orange Township! Escape the hustle ...	2 beds \| 2 baths \| 1,600 sq.ft.	$174,900	Airbnb cash on cash: 4.57% Traditional cash on cash: 11.22% Airbnb Rental Income: $1529 Traditional Rental Income: $2193 Airbnb ROI: 4.57% Traditional ROI: 11.22%
11475 NE Lakeview Drive Kalkaska, MI Charming 3-Bedroom Home with Pole Barn and Lake Access on Bear Lake in Beautiful Kalkaska ...	4 beds \| 2 baths \| 2,180 sq.ft.	$359,900	Airbnb cash on cash: 3.39% Traditional cash on cash: 7.49% Airbnb Rental Income: $2174 Traditional Rental Income: $3005 Airbnb ROI: 3.39% Traditional ROI: 7.49%
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.	$250,000	Airbnb cash on cash: 2.99% Traditional cash on cash: 8.19% Airbnb Rental Income: $1523 Traditional Rental Income: $2308 Airbnb ROI: 2.99% Traditional ROI: 8.19%
577 Grouse Kalkaska, MI This newly built home sits on a serene 1.74 acre parcel and offers an inviting blend of pr...	3 beds \| 2 baths \| 1,440 sq.ft.	$339,900	Airbnb cash on cash: 2.04% Traditional cash on cash: 7.1% Airbnb Rental Income: $1523 Traditional Rental Income: $2695 Airbnb ROI: 2.04% Traditional ROI: 7.1%
603 PAW PAW STREET Kalkaska, MI PRICE IMPROVEMENT! Available Now~The New House on the block! This lovely home is a 2025 bu...	4 beds \| 2 baths \| 1,387 sq.ft.	$263,300	Airbnb cash on cash: 5.09% Traditional cash on cash: 8.45% Airbnb Rental Income: $2174 Traditional Rental Income: $2457 Airbnb ROI: 5.09% Traditional ROI: 8.45%
7203 Co Road 612 Kalkaska, MI An outstanding property in the heart of Northern Michigans sought after recreational area!...	3 beds \| 2 baths \| 2,900 sq.ft.	$379,900	Airbnb cash on cash: 1.64% Traditional cash on cash: 6.34% Airbnb Rental Income: $1523 Traditional Rental Income: $2754 Airbnb ROI: 1.64% Traditional ROI: 6.34%
5059 NE Rogers Road Kalkaska, MI Discover peace, privacy, and endless outdoor adventure with this beautifully framed 3-bedr...	3 beds \| 2 baths \| 1,139 sq.ft.	$229,000	Airbnb cash on cash: 2.89% Traditional cash on cash: 7.31% Airbnb Rental Income: $1523 Traditional Rental Income: $2036 Airbnb ROI: 2.89% Traditional ROI: 7.31%
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: 1.44% Traditional cash on cash: 5.14% Airbnb Rental Income: $1523 Traditional Rental Income: $2210 Airbnb ROI: 1.44% Traditional ROI: 5.14%
7033 NE WC Cross Drive Kalkaska, MI In the heart of year round fun a turnkey updated cabin including a brand new roof just fin...	2 beds \| 1 baths \| 832 sq.ft.	$299,999	Airbnb cash on cash: 2.35% Traditional cash on cash: 4.31% Airbnb Rental Income: $1529 Traditional Rental Income: $1639 Airbnb ROI: 2.35% Traditional ROI: 4.31%
4446 E Shore Drive NE Kalkaska, MI Enjoy life by the lake with this inviting cabin located directly across the road from Lake...	2 beds \| 1 baths \| 1,040 sq.ft.	$239,000	Airbnb cash on cash: 3.07% Traditional cash on cash: 5.81% Airbnb Rental Income: $1529 Traditional Rental Income: $1705 Airbnb ROI: 3.07% Traditional ROI: 5.81%
4181 NE Sands Park Drive Kalkaska, MI Excellent Up North Location! Just a quarter mile down the road from Sands Park beach and b...	2 beds \| 1 baths \| 852 sq.ft.	$139,900	Airbnb cash on cash: 5.98% Traditional cash on cash: 9.84% Airbnb Rental Income: $1529 Traditional Rental Income: $1603 Airbnb ROI: 5.98% Traditional ROI: 9.84%
304 Pine Street Kalkaska, MI Location is key! You wont want to miss this 4 bedroom 1 bath house right in the heart of K...	4 beds \| 1 baths \| 1,500 sq.ft.	$179,900	Airbnb cash on cash: 7.67% Traditional cash on cash: 10.36% Airbnb Rental Income: $2174 Traditional Rental Income: $2082 Airbnb ROI: 7.67% Traditional ROI: 10.36%
1571 NE Dorena Drive Kalkaska, MI This spacious 4-bedroom, 3-bath home just north of Kalkaska offers room for everyone and a...	4 beds \| 3 baths \| 2,533 sq.ft.	$299,999	Airbnb cash on cash: 3.36% Traditional cash on cash: 10.09% Airbnb Rental Income: $2174 Traditional Rental Income: $3524 Airbnb ROI: 3.36% Traditional ROI: 10.09%
4993 Co Road 571 Kalkaska, MI Escape to your private 60-acre retreat! This quaint log cabin offers the ultimate "up nort...	3 beds \| 2 baths \| 1,705 sq.ft.	$499,000	Airbnb cash on cash: 1.02% Traditional cash on cash: 3.99% Airbnb Rental Income: $1523 Traditional Rental Income: $2467 Airbnb ROI: 1.02% Traditional ROI: 3.99%
296 US-131, SW Kalkaska, MI A retreat awaits you as you drive into your affordable, peaceful get away just off US131 ...	2 beds \| 2 baths \| 1,008 sq.ft.	$295,000	Airbnb cash on cash: 1.97% Traditional cash on cash: 5.14% Airbnb Rental Income: $1529 Traditional Rental Income: $1967 Airbnb ROI: 1.97% Traditional ROI: 5.14%
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.	$174,999	Airbnb cash on cash: 4.41% Traditional cash on cash: 10.16% Airbnb Rental Income: $1523 Traditional Rental Income: $2037 Airbnb ROI: 4.41% Traditional ROI: 10.16%
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.	$379,900	Airbnb cash on cash: 1.65% Traditional cash on cash: 6.5% Airbnb Rental Income: $1529 Traditional Rental Income: $2811 Airbnb ROI: 1.65% Traditional ROI: 6.5%
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.	$844,900	Airbnb cash on cash: -1.35% Traditional cash on cash: 1.74% Airbnb Rental Income: $1523 Traditional Rental Income: $3516 Airbnb ROI: -1.35% Traditional ROI: 1.74%
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.	$175,000	Airbnb cash on cash: 3.44% Traditional cash on cash: 7.32% Airbnb Rental Income: $1529 Traditional Rental Income: $1733 Airbnb ROI: 3.44% Traditional ROI: 7.32%
838 Blue Heron Drive Kalkaska, MI Private setting in Blue Heron subdivision with waterfront on Price Lake, a private small t...	3 beds \| 3 baths \| 1,896 sq.ft.	$500,000	Airbnb cash on cash: 0.42% Traditional cash on cash: 4.61% Airbnb Rental Income: $1523 Traditional Rental Income: $3038 Airbnb ROI: 0.42% Traditional ROI: 4.61%
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.	$354,900	Airbnb cash on cash: 1.05% Traditional cash on cash: 5.63% Airbnb Rental Income: $1523 Traditional Rental Income: $2609 Airbnb ROI: 1.05% Traditional ROI: 5.63%
4029 E Shore Kalkaska, MI Exceptional Manistee Lakefront Home in Kalkaska County Nestled on the pristine shores of ...	3 beds \| 2 baths \| 1,164 sq.ft.	$349,900	Airbnb cash on cash: 1.1% Traditional cash on cash: 4.6% Airbnb Rental Income: $1523 Traditional Rental Income: $2228 Airbnb ROI: 1.1% Traditional ROI: 4.6%
577 Grouse Drive SW Kalkaska, MI This newly built home sits on a serene 1.74 acre parcel and offers an inviting blend of pr...	3 beds \| 2 baths \| 1,440 sq.ft.	$339,900	Airbnb cash on cash: 2.04% Traditional cash on cash: 6.56% Airbnb Rental Income: $1523 Traditional Rental Income: $2524 Airbnb ROI: 2.04% Traditional ROI: 6.56%
836 Adams Road Kalkaska, MI Discover a home that offers it all-quality, comfort, and the perfect Up-North lifestyle. B...	2 beds \| 2 baths \| 1,227 sq.ft.	$349,900	Airbnb cash on cash: 1.4% Traditional cash on cash: 4.81% Airbnb Rental Income: $1529 Traditional Rental Income: $2208 Airbnb ROI: 1.4% Traditional ROI: 4.81%
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.	$239,900	Airbnb cash on cash: 2.58% Traditional cash on cash: 9.38% Airbnb Rental Income: $1523 Traditional Rental Income: $2622 Airbnb ROI: 2.58% Traditional ROI: 9.38%
204 S Chestnut Street Kalkaska, MI Move right into this adorable 2 bedroom, 1 bath home located in the Village of Kalkaska. C...	2 beds \| 1 baths \| 1,008 sq.ft.	$159,900	Airbnb cash on cash: 5.19% Traditional cash on cash: 8.72% Airbnb Rental Income: $1529 Traditional Rental Income: $1624 Airbnb ROI: 5.19% Traditional ROI: 8.72%
211 West Street Kalkaska, MI Thereâs something grounding about this home, maybe itâs the inviting front porch, or t...	4 beds \| 3 baths \| 2,653 sq.ft.	$329,900	Airbnb cash on cash: 3.78% Traditional cash on cash: 8.89% Airbnb Rental Income: $2174 Traditional Rental Income: $3206 Airbnb ROI: 3.78% Traditional ROI: 8.89%

Real Estate investment in Kalkaska, MI

There are 44 properties for sale in the city of Kalkaska . The median list price in Kalkaska is $317,950 and the average price per square foot is $196. In December 2025, the average monthly cash on cash return in Kalkaska is 6.00%. The average monthly rental income in Kalkaska is $2,470.

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

There are 44 investment properties available for sale in Kalkaska.

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

The ROI for Long-Term is higher than the Short-Term in Kalkaska with average rental income of $2,470.

Your search for investment property begins and ends here

Investment Property for Sale in Kalkaska, MI

922 W Bear Lake Road NE

Kalkaska, MI

3 beds | 2 baths | 1,520 sq.ft.

$699,900

Airbnb cash on cash: -1.02%

Traditional cash on cash: 1.42%

Airbnb Rental Income: $1523

Traditional Rental Income: $2669

Airbnb ROI: -1.02%

Traditional ROI: 1.42%

103 Arbor Street

Kalkaska, MI

3 beds | 1 baths | 1,120 sq.ft.

$250,000

Airbnb cash on cash: 1.66%

Traditional cash on cash: 4.96%

Airbnb Rental Income: $1523

Traditional Rental Income: $1860

Airbnb ROI: 1.66%

Traditional ROI: 4.96%

933 Old M-72

Kalkaska, MI

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

$295,000

Airbnb cash on cash: 1.03%

Traditional cash on cash: 7.78%

Airbnb Rental Income: $1523

Traditional Rental Income: $2955

Airbnb ROI: 1.03%

Traditional ROI: 7.78%

330 East Trail

Kalkaska, MI

5 beds | 2 baths | 2,841 sq.ft.

$369,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.32%

Airbnb Rental Income: $null

Traditional Rental Income: $2867

Airbnb ROI: N/A

Traditional ROI: 6.32%

1539 NE Katinka Drive

Kalkaska, MI

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

$228,000

Airbnb cash on cash: 2.06%

Traditional cash on cash: 5.28%

Airbnb Rental Income: $1523

Traditional Rental Income: $1776

Airbnb ROI: 2.06%

Traditional ROI: 5.28%

7558 NE Timberline Street

Kalkaska, MI

4 beds | 3 baths | 2,100 sq.ft.

$699,000

Airbnb cash on cash: 0.39%

Traditional cash on cash: 2.6%

Airbnb Rental Income: $2174

Traditional Rental Income: $3058

Airbnb ROI: 0.39%

Traditional ROI: 2.6%

7609 Shore Road, NE

Kalkaska, MI

3 beds | 2 baths | 1,100 sq.ft.

$549,999

Airbnb cash on cash: -0.61%

Traditional cash on cash: 1.52%

Airbnb Rental Income: $1523

Traditional Rental Income: $2171

Airbnb ROI: -0.61%

Traditional ROI: 1.52%

1965 Bunker Drive NE

Kalkaska, MI

3 beds | 2 baths | 1,688 sq.ft.

$334,900

Airbnb cash on cash: 1.14%

Traditional cash on cash: 5.56%

Airbnb Rental Income: $1523

Traditional Rental Income: $2472

Airbnb ROI: 1.14%