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.	$283,000	Airbnb cash on cash: 1.57% Traditional cash on cash: 3.49% Airbnb Rental Income: $1646 Traditional Rental Income: $1697 Airbnb ROI: 1.57% Traditional ROI: 3.49%
922 W Bear Lake Road NE Kalkaska, MI Welcome to Bear Lake in Kalkaska, Michigan! One of Northern Michiganâs most coveted all-...	3 beds \| 2 baths \| 1,520 sq.ft.	$749,900	Airbnb cash on cash: -0.97% Traditional cash on cash: 1.16% Airbnb Rental Income: $1646 Traditional Rental Income: $2669 Airbnb ROI: -0.97% Traditional ROI: 1.16%
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: 2.1% Traditional cash on cash: 4.96% Airbnb Rental Income: $1646 Traditional Rental Income: $1860 Airbnb ROI: 2.1% Traditional ROI: 4.96%
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: 2.44% Traditional cash on cash: 6.71% Airbnb Rental Income: $1606 Traditional Rental Income: $2059 Airbnb ROI: 2.44% 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: 1.96% Traditional cash on cash: 3.81% Airbnb Rental Income: $1606 Traditional Rental Income: $1588 Airbnb ROI: 1.96% Traditional ROI: 3.81%
4635 NW Beebe Road Kalkaska, MI Secluded Northwoods Retreat with Endless Possibilities- Located just outside Kalkaska, thi...	3 beds \| 1 baths \| 900 sq.ft.	$319,900	Airbnb cash on cash: 1.11% Traditional cash on cash: 3.06% Airbnb Rental Income: $1646 Traditional Rental Income: $1771 Airbnb ROI: 1.11% Traditional ROI: 3.06%
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: 0.13% Traditional cash on cash: 1.26% Airbnb Rental Income: $1606 Traditional Rental Income: $1601 Airbnb ROI: 0.13% Traditional ROI: 1.26%
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.	$299,000	Airbnb cash on cash: 1.35% Traditional cash on cash: 7.64% Airbnb Rental Income: $1646 Traditional Rental Income: $2955 Airbnb ROI: 1.35% Traditional ROI: 7.64%
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: 2.92% Traditional cash on cash: 4.29% Airbnb Rental Income: $2077 Traditional Rental Income: $1908 Airbnb ROI: 2.92% 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: 5.09% Traditional cash on cash: 5.46% Airbnb Rental Income: $2077 Traditional Rental Income: $1626 Airbnb ROI: 5.09% Traditional ROI: 5.46%
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: 0.27% Traditional cash on cash: 2.6% Airbnb Rental Income: $2077 Traditional Rental Income: $3058 Airbnb ROI: 0.27% 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.	$550,000	Airbnb cash on cash: -0.41% Traditional cash on cash: 1.52% Airbnb Rental Income: $1646 Traditional Rental Income: $2171 Airbnb ROI: -0.41% Traditional ROI: 1.52%
377 E Bear Lake Road Kalkaska, MI Enjoy the best of Up North living within walking distance to beautiful, crystal-clear Bear...	2 beds \| 1 baths \| 924 sq.ft.	$124,900	Airbnb cash on cash: 6.28% Traditional cash on cash: 7.75% Airbnb Rental Income: $1606 Traditional Rental Income: $1326 Airbnb ROI: 6.28% Traditional ROI: 7.75%
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.	$339,900	Airbnb cash on cash: 1.43% Traditional cash on cash: 5.47% Airbnb Rental Income: $1646 Traditional Rental Income: $2472 Airbnb ROI: 1.43% Traditional ROI: 5.47%
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: 3.85% Traditional cash on cash: 7.2% Airbnb Rental Income: $2077 Traditional Rental Income: $2488 Airbnb ROI: 3.85% 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.	$249,900	Airbnb cash on cash: 3.02% Traditional cash on cash: 8.15% Airbnb Rental Income: $1646 Traditional Rental Income: $2393 Airbnb ROI: 3.02% Traditional ROI: 8.15%
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: 1.13% Traditional cash on cash: 6.4% Airbnb Rental Income: $808 Traditional Rental Income: $1338 Airbnb ROI: 1.13% 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: 1.22% Traditional cash on cash: 2.34% Airbnb Rental Income: $1606 Traditional Rental Income: $1467 Airbnb ROI: 1.22% 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: 2.95% Traditional cash on cash: 8.67% Airbnb Rental Income: $1646 Traditional Rental Income: $2533 Airbnb ROI: 2.95% 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: 1.8% Traditional cash on cash: 6.09% Airbnb Rental Income: $1646 Traditional Rental Income: $2455 Airbnb ROI: 1.8% 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.	$324,000	Airbnb cash on cash: 2.52% Traditional cash on cash: 7.06% Airbnb Rental Income: $1646 Traditional Rental Income: $2567 Airbnb ROI: 2.52% Traditional ROI: 7.06%
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: 4.95% Traditional cash on cash: 11.22% Airbnb Rental Income: $1606 Traditional Rental Income: $2193 Airbnb ROI: 4.95% Traditional ROI: 11.22%
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: 2.84% Traditional cash on cash: 4.09% Airbnb Rental Income: $1606 Traditional Rental Income: $1478 Airbnb ROI: 2.84% 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: 1.95% Traditional cash on cash: 5.24% Airbnb Rental Income: $1646 Traditional Rental Income: $2188 Airbnb ROI: 1.95% Traditional ROI: 5.24%
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: 6.27% Traditional cash on cash: 11.28% Airbnb Rental Income: $1646 Traditional Rental Income: $1901 Airbnb ROI: 6.27% Traditional ROI: 11.28%
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: 3.15% Traditional cash on cash: 7.49% Airbnb Rental Income: $2077 Traditional Rental Income: $3005 Airbnb ROI: 3.15% 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: 5.71% Traditional cash on cash: 9.6% Airbnb Rental Income: $1606 Traditional Rental Income: $1701 Airbnb ROI: 5.71% Traditional ROI: 9.6%
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.	$335,000	Airbnb cash on cash: 2.32% Traditional cash on cash: 5.89% Airbnb Rental Income: $1646 Traditional Rental Income: $2308 Airbnb ROI: 2.32% Traditional ROI: 5.89%
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: -0.11% Traditional cash on cash: 3.94% Airbnb Rental Income: $2077 Traditional Rental Income: $7921 Airbnb ROI: -0.11% Traditional ROI: 3.94%
4211&4246 E Shore Drive NE Kalkaska, MI Experience effortless lakefront living with this custom 3-bedroom home on 50 feet of priva...	3 beds \| 2 baths \| 1,825 sq.ft.	$569,000	Airbnb cash on cash: 0.97% Traditional cash on cash: 4.78% Airbnb Rental Income: $1646 Traditional Rental Income: $3208 Airbnb ROI: 0.97% Traditional ROI: 4.78%
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.	$364,999	Airbnb cash on cash: 2.14% Traditional cash on cash: 6.55% Airbnb Rental Income: $1646 Traditional Rental Income: $2695 Airbnb ROI: 2.14% Traditional ROI: 6.55%
7121 N Maple Valley Drive Kalkaska, MI Welcome to your newly remodeled two-bedroom, two-bathroom home, perfectly situated on 5 ex...	2 beds \| 2 baths \| 922 sq.ft.	$225,000	Airbnb cash on cash: 2.44% Traditional cash on cash: 5.13% Airbnb Rental Income: $1606 Traditional Rental Income: $1723 Airbnb ROI: 2.44% Traditional ROI: 5.13%
1165 SUNSET SHORES DRIVE NE Kalkaska, MI Discover the beauty of lakeside living while being on 30 acres. This stunning craftsman-st...	3 beds \| 4 baths \| 5,755 sq.ft.	$4,750,000	Airbnb cash on cash: -1.06% Traditional cash on cash: -0.4% Airbnb Rental Income: $1646 Traditional Rental Income: $4109 Airbnb ROI: -1.06% Traditional ROI: -0.4%
603 PAW PAW STREET Kalkaska, MI Price Reduced and Available Now~The New House on the block! This lovely home is a 2025 bui...	4 beds \| 2 baths \| 1,387 sq.ft.	$275,000	Airbnb cash on cash: 4.52% Traditional cash on cash: 8.05% Airbnb Rental Income: $2077 Traditional Rental Income: $2457 Airbnb ROI: 4.52% Traditional ROI: 8.05%
404 N Coral Street Kalkaska, MI Fully Remodeled Ranch on Expansive Corner Lot â Move-In Ready! Welcome to this beautifu...	2 beds \| 1 baths \| 1,000 sq.ft.	$224,500	Airbnb cash on cash: 3.33% Traditional cash on cash: 5.51% Airbnb Rental Income: $1606 Traditional Rental Income: $1613 Airbnb ROI: 3.33% Traditional ROI: 5.51%
5182 East Shore Drive Kalkaska, MI Your Dream Home Awaits Near Manistee Lake! Seize the rare opportunity to own a stunning 3-...	3 beds \| 2 baths \| 1,851 sq.ft.	$339,900	Airbnb cash on cash: 0.89% Traditional cash on cash: 5.35% Airbnb Rental Income: $1646 Traditional Rental Income: $2608 Airbnb ROI: 0.89% Traditional ROI: 5.35%
7203 Co Road 612 Kalkaska, MI 7203 Co Rd 612 NE - MANISTEE LAKE AREA Kalkaska County Michigan - is a stunning three-bedr...	3 beds \| 2 baths \| 2,900 sq.ft.	$379,900	Airbnb cash on cash: 1.93% Traditional cash on cash: 6.34% Airbnb Rental Income: $1646 Traditional Rental Income: $2754 Airbnb ROI: 1.93% 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: 3.37% Traditional cash on cash: 7.31% Airbnb Rental Income: $1646 Traditional Rental Income: $2036 Airbnb ROI: 3.37% 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: 1.78% Traditional cash on cash: 5.14% Airbnb Rental Income: $1646 Traditional Rental Income: $2210 Airbnb ROI: 1.78% 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.	$324,999	Airbnb cash on cash: 2.31% Traditional cash on cash: 3.91% Airbnb Rental Income: $1606 Traditional Rental Income: $1639 Airbnb ROI: 2.31% Traditional ROI: 3.91%

Real Estate investment in Kalkaska, MI

There are 62 properties for sale in the city of Kalkaska . The median list price in Kalkaska is $299,900 and the average price per square foot is $193. In October 2025, the average monthly cash on cash return in Kalkaska is 6.00%. The average monthly rental income in Kalkaska is $2,228.

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

There are 62 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 $2,228.

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.

$283,000

Airbnb cash on cash: 1.57%

Traditional cash on cash: 3.49%

Airbnb Rental Income: $1646

Traditional Rental Income: $1697

Airbnb ROI: 1.57%

Traditional ROI: 3.49%

922 W Bear Lake Road NE

Kalkaska, MI

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

$749,900

Airbnb cash on cash: -0.97%

Traditional cash on cash: 1.16%

Airbnb Rental Income: $1646

Traditional Rental Income: $2669

Airbnb ROI: -0.97%

Traditional ROI: 1.16%

103 Arbor Street

Kalkaska, MI

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

$250,000

Airbnb cash on cash: 2.1%

Traditional cash on cash: 4.96%

Airbnb Rental Income: $1646

Traditional Rental Income: $1860

Airbnb ROI: 2.1%

Traditional ROI: 4.96%

3391 W Bear Lake Road

Kalkaska, MI

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

$225,000

Airbnb cash on cash: 2.44%

Traditional cash on cash: 6.71%

Airbnb Rental Income: $1606

Traditional Rental Income: $2059

Airbnb ROI: 2.44%

Traditional ROI: 6.71%

1158 EAST LAKE DRIVE

Kalkaska, MI

2 beds | 1 baths | 720 sq.ft.

$249,900

Airbnb cash on cash: 1.96%

Traditional cash on cash: 3.81%

Airbnb Rental Income: $1606

Traditional Rental Income: $1588

Airbnb ROI: 1.96%

Traditional ROI: 3.81%

4635 NW Beebe Road

Kalkaska, MI

3 beds | 1 baths | 900 sq.ft.

$319,900

Airbnb cash on cash: 1.11%

Traditional cash on cash: 3.06%

Airbnb Rental Income: $1646

Traditional Rental Income: $1771

Airbnb ROI: 1.11%

Traditional ROI: 3.06%

493 NE County Road 571

Kalkaska, MI

2 beds | 1 baths | 672 sq.ft.

$425,000

Airbnb cash on cash: 0.13%

Traditional cash on cash: 1.26%

Airbnb Rental Income: $1606

Traditional Rental Income: $1601

Airbnb ROI: 0.13%

Traditional ROI: 1.26%

933 Old M-72

Kalkaska, MI

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

$299,000

Airbnb cash on cash: 1.35%

Traditional cash on cash: 7.64%

Airbnb Rental Income: $1646

Traditional Rental Income: $2955

Airbnb ROI: 1.35%