Real Estate Investment Properties for Sale in Lake City, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
1404 S TAXIWAY DELTA Lake City, MI Charming & Spacious 2 Bed / 2 Bath Home with Garage Well maintained and move-in ready, thi...	2 beds \| 2 baths \| 1,216 sq.ft.	$159,900	Airbnb cash on cash: -0.25% Traditional cash on cash: 9.83% Airbnb Rental Income: $753 Traditional Rental Income: $1977 Airbnb ROI: -0.25% Traditional ROI: 9.83%
5521 N Edwards Road Lake City, MI Looking for the perfect blend of country living and opportunity? This 3-bedroom, 2.5-bath ...	3 beds \| 3 baths \| 2,322 sq.ft.	$240,000	Airbnb cash on cash: 0.93% Traditional cash on cash: 11.12% Airbnb Rental Income: $1023 Traditional Rental Income: $2974 Airbnb ROI: 0.93% Traditional ROI: 11.12%
222 N Canal Street Lake City, MI Charming 2-Bedroom Home in a Prime Location! Welcome to this cozy 2-bedroom, 1.5-bath hom...	2 beds \| 2 baths \| 1,046 sq.ft.	$165,000	Airbnb cash on cash: 0.13% Traditional cash on cash: 8.55% Airbnb Rental Income: $753 Traditional Rental Income: $1764 Airbnb ROI: 0.13% Traditional ROI: 8.55%
6789 W Redman Drive Lake City, MI Nestled in the peaceful curve of Clayton Harbor Bay, this 4-bedroom, 2.5-bath storybook co...	4 beds \| 3 baths \| 1,728 sq.ft.	$664,900	Airbnb cash on cash: 0.2% Traditional cash on cash: 0.65% Airbnb Rental Income: $2294 Traditional Rental Income: $2003 Airbnb ROI: 0.2% Traditional ROI: 0.65%
208 Russell Street Lake City, MI Welcome to this charming 3-bedroom, 1.5-bath home built in 2019, offering modern comfort a...	3 beds \| 2 baths \| 1,183 sq.ft.	$180,000	Airbnb cash on cash: 0.78% Traditional cash on cash: 7.83% Airbnb Rental Income: $1023 Traditional Rental Income: $1871 Airbnb ROI: 0.78% Traditional ROI: 7.83%
1900 Pavilion Drive Lake City, MI This charming log cottage has a newly painted exterior and features 3 bedrooms, 1 bath, an...	3 beds \| 1 baths \| 1,004 sq.ft.	$199,900	Airbnb cash on cash: 1.09% Traditional cash on cash: 7.35% Airbnb Rental Income: $1023 Traditional Rental Income: $1852 Airbnb ROI: 1.09% Traditional ROI: 7.35%
2351 S McGee Road Lake City, MI Experience the best of country living and investment potential on this rare 19-acre proper...	3 beds \| 2 baths \| 1,056 sq.ft.	$300,000	Airbnb cash on cash: 0.1% Traditional cash on cash: 5.2% Airbnb Rental Income: $1023 Traditional Rental Income: $2105 Airbnb ROI: 0.1% Traditional ROI: 5.2%
5640 W Houghton Lake Road Lake City, MI To no fault of the seller, this home is back on the market. Welcome to this 1960s quad-lev...	3 beds \| 2 baths \| 1,648 sq.ft.	$200,000	Airbnb cash on cash: 1.76% Traditional cash on cash: 11.16% Airbnb Rental Income: $1023 Traditional Rental Income: $2448 Airbnb ROI: 1.76% Traditional ROI: 11.16%
180 E Sanborn Road Lake City, MI Completely renovated three-bedroom, three-bath home on nine acres just east of Lake City. ...	3 beds \| 3 baths \| 1,344 sq.ft.	$279,900	Airbnb cash on cash: 0.8% Traditional cash on cash: 7.12% Airbnb Rental Income: $1023 Traditional Rental Income: $2331 Airbnb ROI: 0.8% Traditional ROI: 7.12%
4774 S Lachance Road Lake City, MI Welcome to your perfect slice of Northern Michigan living! This charming 3-bedroom, 1-bath...	3 beds \| 1 baths \| 1,107 sq.ft.	$190,000	Airbnb cash on cash: 0.88% Traditional cash on cash: 6.87% Airbnb Rental Income: $1023 Traditional Rental Income: $1745 Airbnb ROI: 0.88% Traditional ROI: 6.87%
7039 W White Birch Avenue Lake City, MI Welcome to your dream retreat on the lake, where stunning water views can be enjoyed from ...	3 beds \| 3 baths \| 2,232 sq.ft.	$899,900	Airbnb cash on cash: -0.87% Traditional cash on cash: 2.09% Airbnb Rental Income: $1023 Traditional Rental Income: $3145 Airbnb ROI: -0.87% Traditional ROI: 2.09%
1404 S TAXIWAY DELTA LOT 4-6 Lake City, MI Charming & Spacious 2 Bed / 2 Bath Home with Garage Well maintained and move-in ready, thi...	2 beds \| 2 baths \| 1,216 sq.ft.	$159,900	Airbnb cash on cash: 0.96% Traditional cash on cash: 11.04% Airbnb Rental Income: $753 Traditional Rental Income: $1977 Airbnb ROI: 0.96% Traditional ROI: 11.04%
2370 N Morey Road Lake City, MI Charming Farmhouse on Historic "Plank Hill" â 12.5 Acres with Huge Pole Barn Step back ...	1 beds \| 1 baths \| 720 sq.ft.	$229,900	Airbnb cash on cash: -1.74% Traditional cash on cash: 4.37% Airbnb Rental Income: $278 Traditional Rental Income: $1372 Airbnb ROI: -1.74% Traditional ROI: 4.37%
1667 E Walker Road Lake City, MI 40-Acre Turnkey Hunting Retreat â Lake City, MI Just 10 minutes outside of Lake City, tu...	4 beds \| 1 baths \| 1,708 sq.ft.	$239,900	Airbnb cash on cash: 5.47% Traditional cash on cash: 7.01% Airbnb Rental Income: $2294 Traditional Rental Income: $2072 Airbnb ROI: 5.47% Traditional ROI: 7.01%
229 E Houghton Lake Road Lake City, MI Discover the charm of country living in this 3 bedroom, 2 bath farmhouse set on 5 acres al...	3 beds \| 2 baths \| 1,655 sq.ft.	$185,000	Airbnb cash on cash: 1.31% Traditional cash on cash: 11.34% Airbnb Rental Income: $1023 Traditional Rental Income: $2429 Airbnb ROI: 1.31% Traditional ROI: 11.34%
8398 W Whispering Pines Lake City, MI Welcome home to this inviting bi-level located in a quiet, well-kept subdivision just 10 m...	3 beds \| 2 baths \| 1,464 sq.ft.	$235,000	Airbnb cash on cash: 0.83% Traditional cash on cash: 8.11% Airbnb Rental Income: $1023 Traditional Rental Income: $2281 Airbnb ROI: 0.83% Traditional ROI: 8.11%
5800 W Moorestown Road Lake City, MI This stunning 4-bedroom, 2-bath custom-built home sits on 10 acres of peaceful northern Mi...	4 beds \| 2 baths \| 1,300 sq.ft.	$469,900	Airbnb cash on cash: 1.45% Traditional cash on cash: 2.83% Airbnb Rental Income: $2294 Traditional Rental Income: $2332 Airbnb ROI: 1.45% Traditional ROI: 2.83%
2703 E Moorestown Road Lake City, MI Updated Up North Getaway or Full-Time Home! Perfectly located near ORV/snowmobile trails a...	3 beds \| 1 baths \| 1,200 sq.ft.	$199,900	Airbnb cash on cash: 1.34% Traditional cash on cash: 7.53% Airbnb Rental Income: $1023 Traditional Rental Income: $1837 Airbnb ROI: 1.34% Traditional ROI: 7.53%
181 N Park Street Lake City, MI Charming 3 Bedroom Home on a Private Wooded Lot in Lake City. This 3 bedroom, 1 bath home ...	3 beds \| 1 baths \| 1,046 sq.ft.	$239,900	Airbnb cash on cash: 1.43% Traditional cash on cash: 6.24% Airbnb Rental Income: $1023 Traditional Rental Income: $1754 Airbnb ROI: 1.43% Traditional ROI: 6.24%
8230 W Lotan Road Lake City, MI Completely renovated from top to bottom, this 3-bedroom, 2-bath home sits on a spacious 0....	3 beds \| 2 baths \| 1,133 sq.ft.	$259,900	Airbnb cash on cash: 0.84% Traditional cash on cash: 6.28% Airbnb Rental Income: $1023 Traditional Rental Income: $1999 Airbnb ROI: 0.84% Traditional ROI: 6.28%
7119 W White Birch Avenue Lake City, MI Tucked into the serene embrace of Tomâs Bay with an unobstructed view of Lake Missaukeeâ...	3 beds \| 2 baths \| 1,584 sq.ft.	$684,900	Airbnb cash on cash: -0.58% Traditional cash on cash: 2.66% Airbnb Rental Income: $1023 Traditional Rental Income: $2732 Airbnb ROI: -0.58% Traditional ROI: 2.66%
10242 N 7 Mile Road Lake City, MI Secluded 5-Acre Retreat Backed by State Land â Modern Comfort in the Middle of the Woods...	3 beds \| 2 baths \| 1,200 sq.ft.	$205,000	Airbnb cash on cash: 1.14% Traditional cash on cash: 8.52% Airbnb Rental Income: $1023 Traditional Rental Income: $2097 Airbnb ROI: 1.14% Traditional ROI: 8.52%
8838 N DeYoung Road Lake City, MI Extremely well-preserved 1978 manufactured home, thoughtfully updated and move-in ready. T...	2 beds \| 1 baths \| 980 sq.ft.	$129,000	Airbnb cash on cash: 0.98% Traditional cash on cash: 9.86% Airbnb Rental Income: $753 Traditional Rental Income: $1540 Airbnb ROI: 0.98% Traditional ROI: 9.86%
1779 S Green Road Lake City, MI Are you kidding...a cottage on beautiful all-sports Lake Missaukee for under $500,000. 70'...	2 beds \| 1 baths \| 600 sq.ft.	$474,900	Airbnb cash on cash: -1.36% Traditional cash on cash: 1.02% Airbnb Rental Income: $753 Traditional Rental Income: $1498 Airbnb ROI: -1.36% Traditional ROI: 1.02%
2520 S Blodgett Lake City, MI This Well Maintained 3-bedroom, 1-bath home sits on 2.5 private acres with a big circle dr...	3 beds \| 1 baths \| 938 sq.ft.	$205,000	Airbnb cash on cash: 1.54% Traditional cash on cash: 6.98% Airbnb Rental Income: $1023 Traditional Rental Income: $1721 Airbnb ROI: 1.54% Traditional ROI: 6.98%
5232 S North Country Drive Lake City, MI Charming 3 bed(4th non-conforming), 2 bath home on a spacious .41 acre lot located in the ...	3 beds \| 2 baths \| 1,944 sq.ft.	$349,900	Airbnb cash on cash: -0.03% Traditional cash on cash: 5.71% Airbnb Rental Income: $1023 Traditional Rental Income: $2549 Airbnb ROI: -0.03% Traditional ROI: 5.71%
548 W Houghton Lake Road Lake City, MI Welcome to 548 W Houghton Lake Rd! This charming 2-bedroom, 1-bath home sits on a spacious...	2 beds \| 1 baths \| 847 sq.ft.	$169,900	Airbnb cash on cash: 0.51% Traditional cash on cash: 7.05% Airbnb Rental Income: $753 Traditional Rental Income: $1498 Airbnb ROI: 0.51% Traditional ROI: 7.05%
241 N Decker Road Lake City, MI Welcome to your slice of Lake City paradise! Nestled on 1.77 acres just minutes from the h...	2 beds \| 1 baths \| 1,355 sq.ft.	$199,500	Airbnb cash on cash: 0.1% Traditional cash on cash: 7.45% Airbnb Rental Income: $753 Traditional Rental Income: $1830 Airbnb ROI: 0.1% Traditional ROI: 7.45%
2333 E Newman Road Lake City, MI Welcome to your up north lifestyle in Lake City â where peaceful seclusion, modern comfo...	4 beds \| 3 baths \| 2,356 sq.ft.	$269,900	Airbnb cash on cash: 4.32% Traditional cash on cash: 9.24% Airbnb Rental Income: $2294 Traditional Rental Income: $2974 Airbnb ROI: 4.32% Traditional ROI: 9.24%

Real Estate investment in Lake-city, MI

There are 29 properties for sale in the city of Lake City . The median list price in Lake City is $205,000 and the average price per square foot is $150. In December 2025, the average monthly cash on cash return in Lake City is 7.00%. The average monthly rental income in Lake City is $1,999.

Lake-city, MI Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 29 investment properties available for sale in Lake-city.

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

The ROI for Long-Term is higher than the Short-Term in Lake-city with average rental income of $1,999.

Your search for investment property begins and ends here

Investment Property for Sale in Lake City, MI

1404 S TAXIWAY DELTA

Lake City, MI

2 beds | 2 baths | 1,216 sq.ft.

$159,900

Airbnb cash on cash: -0.25%

Traditional cash on cash: 9.83%

Airbnb Rental Income: $753

Traditional Rental Income: $1977

Airbnb ROI: -0.25%

Traditional ROI: 9.83%

5521 N Edwards Road

Lake City, MI

3 beds | 3 baths | 2,322 sq.ft.

$240,000

Airbnb cash on cash: 0.93%

Traditional cash on cash: 11.12%

Airbnb Rental Income: $1023

Traditional Rental Income: $2974

Airbnb ROI: 0.93%

Traditional ROI: 11.12%

222 N Canal Street

Lake City, MI

2 beds | 2 baths | 1,046 sq.ft.

$165,000

Airbnb cash on cash: 0.13%

Traditional cash on cash: 8.55%

Airbnb Rental Income: $753

Traditional Rental Income: $1764

Airbnb ROI: 0.13%

Traditional ROI: 8.55%

6789 W Redman Drive

Lake City, MI

4 beds | 3 baths | 1,728 sq.ft.

$664,900

Airbnb cash on cash: 0.2%

Traditional cash on cash: 0.65%

Airbnb Rental Income: $2294

Traditional Rental Income: $2003

Airbnb ROI: 0.2%

Traditional ROI: 0.65%

208 Russell Street

Lake City, MI

3 beds | 2 baths | 1,183 sq.ft.

$180,000

Airbnb cash on cash: 0.78%

Traditional cash on cash: 7.83%

Airbnb Rental Income: $1023

Traditional Rental Income: $1871

Airbnb ROI: 0.78%

Traditional ROI: 7.83%

1900 Pavilion Drive

Lake City, MI

3 beds | 1 baths | 1,004 sq.ft.

$199,900

Airbnb cash on cash: 1.09%

Traditional cash on cash: 7.35%

Airbnb Rental Income: $1023

Traditional Rental Income: $1852

Airbnb ROI: 1.09%

Traditional ROI: 7.35%

2351 S McGee Road

Lake City, MI

3 beds | 2 baths | 1,056 sq.ft.

$300,000

Airbnb cash on cash: 0.1%

Traditional cash on cash: 5.2%

Airbnb Rental Income: $1023

Traditional Rental Income: $2105

Airbnb ROI: 0.1%

Traditional ROI: 5.2%

5640 W Houghton Lake Road

Lake City, MI

3 beds | 2 baths | 1,648 sq.ft.

$200,000

Airbnb cash on cash: 1.76%

Traditional cash on cash: 11.16%

Airbnb Rental Income: $1023

Traditional Rental Income: $2448

Airbnb ROI: 1.76%