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
1167 S TAXIWAY HOTEL Lake City, MI They say less is more, but sometimes more is good! If you're home shopping and looking for...	3 beds \| 2 baths \| 1,450 sq.ft.	$239,900	Airbnb cash on cash: 2.02% Traditional cash on cash: 8.65% Airbnb Rental Income: $1198 Traditional Rental Income: $2314 Airbnb ROI: 2.02% Traditional ROI: 8.65%
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: 0.44% Traditional cash on cash: 9.83% Airbnb Rental Income: $879 Traditional Rental Income: $1977 Airbnb ROI: 0.44% Traditional ROI: 9.83%
327 S Gladwin Street Lake City, MI Nestled in the heart of downtown Lake City, this 2-bedroom, 2-bath home offers comfort and...	2 beds \| 2 baths \| 1,250 sq.ft.	$169,900	Airbnb cash on cash: -0.5% Traditional cash on cash: 7.96% Airbnb Rental Income: $879 Traditional Rental Income: $1914 Airbnb ROI: -0.5% Traditional ROI: 7.96%
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: 1.57% Traditional cash on cash: 11.12% Airbnb Rental Income: $1198 Traditional Rental Income: $2974 Airbnb ROI: 1.57% 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: 0.8% Traditional cash on cash: 8.55% Airbnb Rental Income: $879 Traditional Rental Income: $1764 Airbnb ROI: 0.8% Traditional ROI: 8.55%
9799 W Crooked Lake Park Road Lake City, MI Tucked on nearly an acre just down the road from Crooked Lake and the county park and camp...	3 beds \| 2 baths \| 1,344 sq.ft.	$230,000	Airbnb cash on cash: 0.78% Traditional cash on cash: 7.1% Airbnb Rental Income: $1198 Traditional Rental Income: $2186 Airbnb ROI: 0.78% Traditional ROI: 7.1%
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.	$177,000	Airbnb cash on cash: 1.67% Traditional cash on cash: 7.97% Airbnb Rental Income: $1198 Traditional Rental Income: $1871 Airbnb ROI: 1.67% Traditional ROI: 7.97%
10559 Rosted Road Lake City, MI Spacious Manufactured, 3 br 2 bath home. Master bedroom has walk in closet and private ba...	3 beds \| 2 baths \| 1,344 sq.ft.	$224,900	Airbnb cash on cash: 1.04% Traditional cash on cash: 6.21% Airbnb Rental Income: $1198 Traditional Rental Income: $1911 Airbnb ROI: 1.04% Traditional ROI: 6.21%
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: 1.86% Traditional cash on cash: 7.35% Airbnb Rental Income: $1198 Traditional Rental Income: $1852 Airbnb ROI: 1.86% Traditional ROI: 7.35%
719 S Lakeshore Drive Lake City, MI Just steps away from Lake Missaukee, this charming 3-bedroom, 1-bath home sits on a spacio...	3 beds \| 1 baths \| 1,825 sq.ft.	$209,900	Airbnb cash on cash: 1.37% Traditional cash on cash: 7.08% Airbnb Rental Income: $1198 Traditional Rental Income: $1946 Airbnb ROI: 1.37% Traditional ROI: 7.08%
129 N Al Moses Road Lake City, MI Beautiful lake views without the high lakefront taxes awaits your family! This beautifully...	4 beds \| 3 baths \| 3,085 sq.ft.	$529,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.56% Airbnb Rental Income: $null Traditional Rental Income: $3611 Airbnb ROI: N/A Traditional ROI: 5.56%
1264 Birchaven Beach Lake City, MI Come see why life is better at the lake. Your waterfront dream awaits! Welcome Home to...	5 beds \| 2 baths \| 1,800 sq.ft.	$749,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.46% Airbnb Rental Income: $null Traditional Rental Income: $3102 Airbnb ROI: N/A Traditional ROI: 2.46%
8415 W Workman Road Lake City, MI Welcome to your serene escape overlooking the Clam River! Built in 2009, this beautifully ...	3 beds \| 4 baths \| 2,147 sq.ft.	$620,000	Airbnb cash on cash: 0.16% Traditional cash on cash: 4.58% Airbnb Rental Income: $1198 Traditional Rental Income: $3364 Airbnb ROI: 0.16% Traditional ROI: 4.58%
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: 0.61% Traditional cash on cash: 5.2% Airbnb Rental Income: $1198 Traditional Rental Income: $2105 Airbnb ROI: 0.61% 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: 2.53% Traditional cash on cash: 11.16% Airbnb Rental Income: $1198 Traditional Rental Income: $2448 Airbnb ROI: 2.53% 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.	$284,900	Airbnb cash on cash: 1.31% Traditional cash on cash: 6.98% Airbnb Rental Income: $1198 Traditional Rental Income: $2331 Airbnb ROI: 1.31% Traditional ROI: 6.98%
4419 E Moorestown Road Lake City, MI 2 bedroom, 1 1/5 bath farmhouse with picturesque setting...10 acres, pond and abundant wil...	2 beds \| 3 baths \| 2,000 sq.ft.	$245,900	Airbnb cash on cash: 0.47% Traditional cash on cash: 10.59% Airbnb Rental Income: $879 Traditional Rental Income: $2894 Airbnb ROI: 0.47% Traditional ROI: 10.59%
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: 1.69% Traditional cash on cash: 6.87% Airbnb Rental Income: $1198 Traditional Rental Income: $1745 Airbnb ROI: 1.69% Traditional ROI: 6.87%
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: 0.41% Traditional cash on cash: 5.71% Airbnb Rental Income: $1198 Traditional Rental Income: $2549 Airbnb ROI: 0.41% Traditional ROI: 5.71%
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.	$915,000	Airbnb cash on cash: -0.7% Traditional cash on cash: 2.04% Airbnb Rental Income: $1198 Traditional Rental Income: $3145 Airbnb ROI: -0.7% Traditional ROI: 2.04%
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: 1.16% Traditional cash on cash: 7.05% Airbnb Rental Income: $879 Traditional Rental Income: $1498 Airbnb ROI: 1.16% Traditional ROI: 7.05%
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: 1.65% Traditional cash on cash: 11.04% Airbnb Rental Income: $879 Traditional Rental Income: $1977 Airbnb ROI: 1.65% 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: -1.61% Traditional cash on cash: 4.37% Airbnb Rental Income: $313 Traditional Rental Income: $1372 Airbnb ROI: -1.61% Traditional ROI: 4.37%
9771 N Wilson Road Lake City, MI Welcome to this 14 acre private oasis! The bonus is a lovely 3 bedroom/2 bath home AND a ...	3 beds \| 2 baths \| 1,662 sq.ft.	$325,000	Airbnb cash on cash: 0.97% Traditional cash on cash: 6.33% Airbnb Rental Income: $1198 Traditional Rental Income: $2447 Airbnb ROI: 0.97% Traditional ROI: 6.33%
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: N/A Traditional cash on cash: 7.01% Airbnb Rental Income: $null Traditional Rental Income: $2072 Airbnb ROI: N/A 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: 2.14% Traditional cash on cash: 11.34% Airbnb Rental Income: $1198 Traditional Rental Income: $2429 Airbnb ROI: 2.14% Traditional ROI: 11.34%
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.	$207,950	Airbnb cash on cash: 0.59% Traditional cash on cash: 7.11% Airbnb Rental Income: $879 Traditional Rental Income: $1830 Airbnb ROI: 0.59% Traditional ROI: 7.11%
6856 Lakeview Drive Lake City, MI Welcome to lake life at its finest! This stunning, custom-built home offers nearly 3,000 s...	3 beds \| 4 baths \| 2,705 sq.ft.	$824,900	Airbnb cash on cash: -0.81% Traditional cash on cash: 3.21% Airbnb Rental Income: $1198 Traditional Rental Income: $3902 Airbnb ROI: -0.81% Traditional ROI: 3.21%

Real Estate investment in Lake-city, MI

There are 28 properties for sale in the city of Lake City . The median list price in Lake City is $217,400 and the average price per square foot is $137. In October 2025, the average monthly cash on cash return in Lake City is 7.00%. The average monthly rental income in Lake City is $2,105.

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

There are 28 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 $2,105.

Your search for investment property begins and ends here

Investment Property for Sale in Lake City, MI

1167 S TAXIWAY HOTEL

Lake City, MI

3 beds | 2 baths | 1,450 sq.ft.

$239,900

Airbnb cash on cash: 2.02%

Traditional cash on cash: 8.65%

Airbnb Rental Income: $1198

Traditional Rental Income: $2314

Airbnb ROI: 2.02%

Traditional ROI: 8.65%

1404 S TAXIWAY DELTA

Lake City, MI

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

$159,900

Airbnb cash on cash: 0.44%

Traditional cash on cash: 9.83%

Airbnb Rental Income: $879

Traditional Rental Income: $1977

Airbnb ROI: 0.44%

Traditional ROI: 9.83%

327 S Gladwin Street

Lake City, MI

2 beds | 2 baths | 1,250 sq.ft.

$169,900

Airbnb cash on cash: -0.5%

Traditional cash on cash: 7.96%

Airbnb Rental Income: $879

Traditional Rental Income: $1914

Airbnb ROI: -0.5%

Traditional ROI: 7.96%

5521 N Edwards Road

Lake City, MI

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

$240,000

Airbnb cash on cash: 1.57%

Traditional cash on cash: 11.12%

Airbnb Rental Income: $1198

Traditional Rental Income: $2974

Airbnb ROI: 1.57%

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: 0.8%

Traditional cash on cash: 8.55%

Airbnb Rental Income: $879

Traditional Rental Income: $1764

Airbnb ROI: 0.8%

Traditional ROI: 8.55%

9799 W Crooked Lake Park Road

Lake City, MI

3 beds | 2 baths | 1,344 sq.ft.

$230,000

Airbnb cash on cash: 0.78%

Traditional cash on cash: 7.1%

Airbnb Rental Income: $1198

Traditional Rental Income: $2186

Airbnb ROI: 0.78%

Traditional ROI: 7.1%

208 Russell Street

Lake City, MI

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

$177,000

Airbnb cash on cash: 1.67%

Traditional cash on cash: 7.97%

Airbnb Rental Income: $1198

Traditional Rental Income: $1871

Airbnb ROI: 1.67%

Traditional ROI: 7.97%

10559 Rosted Road

Lake City, MI

3 beds | 2 baths | 1,344 sq.ft.

$224,900

Airbnb cash on cash: 1.04%

Traditional cash on cash: 6.21%

Airbnb Rental Income: $1198

Traditional Rental Income: $1911

Airbnb ROI: 1.04%