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
2577 NW Valley Road Kalkaska, MI LOCATION, LOCATION, LOCATION!! Whether you're looking for full time living or an up north ...	3 beds \| 2 baths \| 1,180 sq.ft.	$286,000	Airbnb cash on cash: 0.68% Traditional cash on cash: 3.43% Airbnb Rental Income: $1374 Traditional Rental Income: $1697 Airbnb ROI: 0.68% Traditional ROI: 3.43%
922 W Bear Lake Road NE Kalkaska, MI Welcome to Bear Lake! One of Northern Michiganâs most coveted all-sports lakes, affectio...	3 beds \| 2 baths \| 1,520 sq.ft.	$775,000	Airbnb cash on cash: -1.34% Traditional cash on cash: 1.04% Airbnb Rental Income: $1374 Traditional Rental Income: $2669 Airbnb ROI: -1.34% Traditional ROI: 1.04%
3391 W Bear Lake Road Kalkaska, MI Charmer! Nestled in the woods, is this 2 bed/2bath, providing you the peace and privacy yo...	2 beds \| 2 baths \| 1,176 sq.ft.	$225,000	Airbnb cash on cash: 0.84% Traditional cash on cash: 6.71% Airbnb Rental Income: $1197 Traditional Rental Income: $2059 Airbnb ROI: 0.84% Traditional ROI: 6.71%
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: 0.51% Traditional cash on cash: 3.81% Airbnb Rental Income: $1197 Traditional Rental Income: $1588 Airbnb ROI: 0.51% Traditional ROI: 3.81%
405 Lynn Street Kalkaska, MI Welcome to this well-maintained 3 bedroom, 1 bathroom home located right in the Village of...	3 beds \| 1 baths \| 936 sq.ft.	$154,900	Airbnb cash on cash: 3.32% Traditional cash on cash: 7.94% Airbnb Rental Income: $1374 Traditional Rental Income: $1640 Airbnb ROI: 3.32% Traditional ROI: 7.94%
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.	$425,000	Airbnb cash on cash: -0.73% Traditional cash on cash: 1.26% Airbnb Rental Income: $1197 Traditional Rental Income: $1601 Airbnb ROI: -0.73% Traditional ROI: 1.26%
3378 Inwood Circle Drive Kalkaska, MI Tucked in a charming neighborhood, this inviting home offers a spacious and functional lay...	3 beds \| 2 baths \| 1,536 sq.ft.	$289,900	Airbnb cash on cash: 0.64% Traditional cash on cash: 5.92% Airbnb Rental Income: $1374 Traditional Rental Income: $2399 Airbnb ROI: 0.64% Traditional ROI: 5.92%
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.	$350,000	Airbnb cash on cash: 0.1% Traditional cash on cash: 6.18% Airbnb Rental Income: $1374 Traditional Rental Income: $2955 Airbnb ROI: 0.1% Traditional ROI: 6.18%
504 Arbor Street Kalkaska, MI Welcome to this beautifully maintained bi-level home featuring 4 spacious bedrooms and 2 f...	4 beds \| 2 baths \| 2,357 sq.ft.	$282,500	Airbnb cash on cash: 3.14% Traditional cash on cash: 4.29% Airbnb Rental Income: $2148 Traditional Rental Income: $1908 Airbnb ROI: 3.14% Traditional ROI: 4.29%
1640 E M 72 Kalkaska, MI Welcome to laid-back, relaxed rural living just outside the Village of Kalkaska! All you ...	4 beds \| 2 baths \| 1,440 sq.ft.	$239,000	Airbnb cash on cash: 5.35% Traditional cash on cash: 5.46% Airbnb Rental Income: $2148 Traditional Rental Income: $1626 Airbnb ROI: 5.35% Traditional ROI: 5.46%
535 Third Street Kalkaska, MI This well-maintained ranch-style home offers an exceptional layout with a private bathroom...	3 beds \| 5 baths \| 1,728 sq.ft.	$285,000	Airbnb cash on cash: 0.69% Traditional cash on cash: 9.51% Airbnb Rental Income: $1374 Traditional Rental Income: $3323 Airbnb ROI: 0.69% Traditional ROI: 9.51%
7609 Shore Drive NE Kalkaska, MI Charming cottage on beautiful 860-acre Manistee Lake, known for its fantastic fishing, ear...	3 beds \| 2 baths \| 1,100 sq.ft.	$550,000	Airbnb cash on cash: -0.85% Traditional cash on cash: 1.52% Airbnb Rental Income: $1374 Traditional Rental Income: $2171 Airbnb ROI: -0.85% Traditional ROI: 1.52%
377 E Bear Lake Road Kalkaska, MI Great location! This clean & maintained home is within walking distance to gorgeous Bear L...	2 beds \| 1 baths \| 924 sq.ft.	$129,900	Airbnb cash on cash: 3.22% Traditional cash on cash: 7.36% Airbnb Rental Income: $1197 Traditional Rental Income: $1326 Airbnb ROI: 3.22% Traditional ROI: 7.36%
9591 Tower Road, NE Kalkaska, MI Great Hunting Camp or your Up North get-a-way, it's waiting! This 20 x 24 cement block cab...	1 beds \| 1 baths \| 480 sq.ft.	$90,000	Airbnb cash on cash: 9.92% Traditional cash on cash: 7.79% Airbnb Rental Income: $1649 Traditional Rental Income: $998 Airbnb ROI: 9.92% Traditional ROI: 7.79%
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.	$349,900	Airbnb cash on cash: 0.67% Traditional cash on cash: 5.28% Airbnb Rental Income: $1374 Traditional Rental Income: $2472 Airbnb ROI: 0.67% Traditional ROI: 5.28%
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.	$299,900	Airbnb cash on cash: 4.06% Traditional cash on cash: 7.2% Airbnb Rental Income: $2148 Traditional Rental Income: $2488 Airbnb ROI: 4.06% Traditional ROI: 7.2%
2071 NE Driftwood Lane Kalkaska, MI What a fantastic location !! Walking distance to Log Lake ( Park, beach & Disc Golf Cours...	3 beds \| 2 baths \| 1,568 sq.ft.	$279,900	Airbnb cash on cash: 1.74% Traditional cash on cash: 7.19% Airbnb Rental Income: $1374 Traditional Rental Income: $2393 Airbnb ROI: 1.74% Traditional ROI: 7.19%
4029 E Shore Drive NE #3 Kalkaska, MI Enjoy waterfront sunsets all year round on beautiful Manistee Lake in a fully furnished sm...	3 beds \| 2 baths \| 1,164 sq.ft.	$379,500	Airbnb cash on cash: 0.57% Traditional cash on cash: 4.14% Airbnb Rental Income: $1374 Traditional Rental Income: $2227 Airbnb ROI: 0.57% Traditional ROI: 4.14%
0 BIG BEAR TRAIL Kalkaska, MI Paradise waits! Wonderful cabin in the woods affords the creature comforts with just a lit...	1 beds \| 1 baths \| 640 sq.ft.	$169,900	Airbnb cash on cash: 5.46% Traditional cash on cash: 6.4% Airbnb Rental Income: $1649 Traditional Rental Income: $1338 Airbnb ROI: 5.46% Traditional ROI: 6.4%
1568 POPLAR DRIVE, NE Kalkaska, MI Charming vintage cottage with shared frontage on quiet Log Lake. This adorable cottage fe...	2 beds \| 1 baths \| 864 sq.ft.	$299,900	Airbnb cash on cash: 0.01% Traditional cash on cash: 2.34% Airbnb Rental Income: $1197 Traditional Rental Income: $1467 Airbnb ROI: 0.01% Traditional ROI: 2.34%
110 W 4th Street Kalkaska, MI Very RARE!!!! 2 homes for the price of one. Commercial, Residential, whatever you want. B...	3 beds \| 2 baths \| 2,000 sq.ft.	$250,000	Airbnb cash on cash: 1.99% Traditional cash on cash: 8.67% Airbnb Rental Income: $1374 Traditional Rental Income: $2533 Airbnb ROI: 1.99% Traditional ROI: 8.67%
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: 1.03% Traditional cash on cash: 6.09% Airbnb Rental Income: $1374 Traditional Rental Income: $2455 Airbnb ROI: 1.03% Traditional ROI: 6.09%
512 NW Kalkaska Street Kalkaska, MI Step into timeless charm with this beautifully preserved Victorian home, ideally situated ...	3 beds \| 3 baths \| 1,893 sq.ft.	$239,000	Airbnb cash on cash: 1.5% Traditional cash on cash: 10.96% Airbnb Rental Income: $1374 Traditional Rental Income: $3094 Airbnb ROI: 1.5% Traditional ROI: 10.96%
5203 NE Myers Road Kalkaska, MI Motivated sellers! Offering seller concessions to assist with down payment. Also a free ye...	3 beds \| 2 baths \| 1,563 sq.ft.	$349,000	Airbnb cash on cash: 1.58% Traditional cash on cash: 6.49% Airbnb Rental Income: $1374 Traditional Rental Income: $2567 Airbnb ROI: 1.58% Traditional ROI: 6.49%
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: 2.91% Traditional cash on cash: 11.22% Airbnb Rental Income: $1197 Traditional Rental Income: $2193 Airbnb ROI: 2.91% Traditional ROI: 11.22%
12090 Twin Lake Road, NE Kalkaska, MI Sweet Log Cabin on water and trails, what else could you want? Once you set your eyes on t...	2 beds \| 2 baths \| 1,084 sq.ft.	$425,000	Airbnb cash on cash: 0.68% Traditional cash on cash: 3.62% Airbnb Rental Income: $1197 Traditional Rental Income: $1978 Airbnb ROI: 0.68% Traditional ROI: 3.62%
4862 E Circle Drive NE Kalkaska, MI Charming 2-Bedroom Retreat Near Manistee Lake This intelligently designed 2-bedroom, 1-ba...	2 beds \| 1 baths \| 804 sq.ft.	$279,000	Airbnb cash on cash: 1.55% Traditional cash on cash: 4.09% Airbnb Rental Income: $1197 Traditional Rental Income: $1478 Airbnb ROI: 1.55% Traditional ROI: 4.09%
2692 Kettle Lake Road Kalkaska, MI This is a must-see! As soon as you step into the backyard of this stunning 4-acre property...	3 beds \| 2 baths \| 1,200 sq.ft.	$325,000	Airbnb cash on cash: 1.21% Traditional cash on cash: 5.24% Airbnb Rental Income: $1374 Traditional Rental Income: $2188 Airbnb ROI: 1.21% Traditional ROI: 5.24%
495 SW Prairie Lane Kalkaska, MI This quiet setting on a private road features a spacious 1890 sq. ft. ranch with two livin...	3 beds \| 3 baths \| 1,890 sq.ft.	$328,900	Airbnb cash on cash: 1.13% Traditional cash on cash: 6.86% Airbnb Rental Income: $1374 Traditional Rental Income: $2729 Airbnb ROI: 1.13% Traditional ROI: 6.86%
3156 Co Road 612 NE Kalkaska, MI Escape to this serene wooded 2.5 acres just 3 miles from Kalkaska. Located on a paved coun...	3 beds \| 2 baths \| 950 sq.ft.	$150,000	Airbnb cash on cash: 4.69% Traditional cash on cash: 11.28% Airbnb Rental Income: $1374 Traditional Rental Income: $1901 Airbnb ROI: 4.69% Traditional ROI: 11.28%
9031 NE County Road 612 Kalkaska, MI Experience Northern Michigan at its finest with this charming and well-maintained home, tu...	3 beds \| 1 baths \| 1,170 sq.ft.	$299,500	Airbnb cash on cash: 1.31% Traditional cash on cash: 4.33% Airbnb Rental Income: $1374 Traditional Rental Income: $1808 Airbnb ROI: 1.31% Traditional ROI: 4.33%
10723 Black Bear Road Kalkaska, MI Welcome to the cabin on Cub lake where a charming, cozy retreat awaits you. Enjoy 100 feet...	2 beds \| 1 baths \| 1,204 sq.ft.	$345,900	Airbnb cash on cash: 0.11% Traditional cash on cash: 3.58% Airbnb Rental Income: $1197 Traditional Rental Income: $1939 Airbnb ROI: 0.11% Traditional ROI: 3.58%
262 NE E BEAR LAKE ROAD Kalkaska, MI Discover the potential of this charming fixer-upper. This property is perfect for those se...	3 beds \| 2 baths \| 1,152 sq.ft.	$150,000	Airbnb cash on cash: 4.53% Traditional cash on cash: 11.8% Airbnb Rental Income: $1374 Traditional Rental Income: $1999 Airbnb ROI: 4.53% Traditional ROI: 11.8%
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: 3.33% Traditional cash on cash: 7.49% Airbnb Rental Income: $2148 Traditional Rental Income: $3005 Airbnb ROI: 3.33% Traditional ROI: 7.49%
13765 NE Sunburry Road Kalkaska, MI The Up North Cottage you need, with Lake Access across the street. Easy drive from the I-7...	2 beds \| 1 baths \| 960 sq.ft.	$148,000	Airbnb cash on cash: 3.3% Traditional cash on cash: 9.6% Airbnb Rental Income: $1197 Traditional Rental Income: $1701 Airbnb ROI: 3.3% Traditional ROI: 9.6%
5611 NE EAST SHORE DRIVE 5616 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.	$350,000	Airbnb cash on cash: 1.49% Traditional cash on cash: 5.6% Airbnb Rental Income: $1374 Traditional Rental Income: $2308 Airbnb ROI: 1.49% Traditional ROI: 5.6%
6299&6277 Blue Lake Road, Ne Kalkaska, MI Wake up every morning in your dream vacation destination with this made-to-host , all spor...	4 beds \| 4 baths \| 4,788 sq.ft.	$1,699,000	Airbnb cash on cash: -0.07% Traditional cash on cash: 3.94% Airbnb Rental Income: $2148 Traditional Rental Income: $7921 Airbnb ROI: -0.07% Traditional ROI: 3.94%
635 SW Grouse Drive Kalkaska, MI Modern 3-Bedroom New Build on 3.8 Acres with Custom Finishes & Pole Barn â Just 6 Minute...	3 beds \| 2 baths \| 2,256 sq.ft.	$429,000	Airbnb cash on cash: 1.08% Traditional cash on cash: 5.66% Airbnb Rental Income: $1374 Traditional Rental Income: $2799 Airbnb ROI: 1.08% Traditional ROI: 5.66%
5019 Golden Road Kalkaska, MI SUPER SHARP! Everything well maintained! Great corner parcel offering privacy yet on a p...	3 beds \| 2 baths \| 1,200 sq.ft.	$179,900	Airbnb cash on cash: 3.65% Traditional cash on cash: 10.02% Airbnb Rental Income: $1374 Traditional Rental Income: $2046 Airbnb ROI: 3.65% Traditional ROI: 10.02%
4910 Deerfield Drive Kalkaska, MI WONDERFUL STARTER OR VACATION HOME within walking distance to Crawford Lake! Everything o...	3 beds \| 2 baths \| 1,320 sq.ft.	$219,900	Airbnb cash on cash: 2.67% Traditional cash on cash: 8.03% Airbnb Rental Income: $1374 Traditional Rental Income: $2073 Airbnb ROI: 2.67% Traditional ROI: 8.03%

Real Estate investment in Kalkaska, MI

There are 59 properties for sale in the city of Kalkaska . The median list price in Kalkaska is $289,900 and the average price per square foot is $192. In September 2025, the average monthly cash on cash return in Kalkaska is 6.00%. The average monthly rental income in Kalkaska is $2,193.

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

There are 59 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 $2,193.

Your search for investment property begins and ends here

Investment Property for Sale in Kalkaska, MI

2577 NW Valley Road

Kalkaska, MI

3 beds | 2 baths | 1,180 sq.ft.

$286,000

Airbnb cash on cash: 0.68%

Traditional cash on cash: 3.43%

Airbnb Rental Income: $1374

Traditional Rental Income: $1697

Airbnb ROI: 0.68%

Traditional ROI: 3.43%

922 W Bear Lake Road NE

Kalkaska, MI

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

$775,000

Airbnb cash on cash: -1.34%

Traditional cash on cash: 1.04%

Airbnb Rental Income: $1374

Traditional Rental Income: $2669

Airbnb ROI: -1.34%

Traditional ROI: 1.04%

3391 W Bear Lake Road

Kalkaska, MI

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

$225,000

Airbnb cash on cash: 0.84%

Traditional cash on cash: 6.71%

Airbnb Rental Income: $1197

Traditional Rental Income: $2059

Airbnb ROI: 0.84%

Traditional ROI: 6.71%

1158 EAST LAKE DRIVE

Kalkaska, MI

2 beds | 1 baths | 720 sq.ft.

$249,900

Airbnb cash on cash: 0.51%

Traditional cash on cash: 3.81%

Airbnb Rental Income: $1197

Traditional Rental Income: $1588

Airbnb ROI: 0.51%

Traditional ROI: 3.81%

405 Lynn Street

Kalkaska, MI

3 beds | 1 baths | 936 sq.ft.

$154,900

Airbnb cash on cash: 3.32%

Traditional cash on cash: 7.94%

Airbnb Rental Income: $1374

Traditional Rental Income: $1640

Airbnb ROI: 3.32%

Traditional ROI: 7.94%

493 NE County Road 571

Kalkaska, MI

2 beds | 1 baths | 672 sq.ft.

$425,000

Airbnb cash on cash: -0.73%

Traditional cash on cash: 1.26%

Airbnb Rental Income: $1197

Traditional Rental Income: $1601

Airbnb ROI: -0.73%

Traditional ROI: 1.26%

3378 Inwood Circle Drive

Kalkaska, MI

3 beds | 2 baths | 1,536 sq.ft.

$289,900

Airbnb cash on cash: 0.64%

Traditional cash on cash: 5.92%

Airbnb Rental Income: $1374

Traditional Rental Income: $2399

Airbnb ROI: 0.64%

Traditional ROI: 5.92%

933 Old M-72

Kalkaska, MI

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

$350,000

Airbnb cash on cash: 0.1%

Traditional cash on cash: 6.18%

Airbnb Rental Income: $1374

Traditional Rental Income: $2955

Airbnb ROI: 0.1%