Real Estate Investment Properties for Sale in Lake, MI

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

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

separator

PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
441 Hillcrest Drive Lake, MI Welcome to your up north getaway! Just steps away from all-sport Crooked Lake this 3 bedro...	3 beds \| 2 baths \| 1,400 sq.ft.	$184,900	Airbnb cash on cash: 8% Traditional cash on cash: 9.47% Airbnb Rental Income: $2368 Traditional Rental Income: $2043 Airbnb ROI: 8% Traditional ROI: 9.47%
3230 Pinehurst Lake, MI Welcome to your perfect up north getaway or year-round home in the beautiful Lake of the P...	3 beds \| 2 baths \| 1,260 sq.ft.	$253,900	Airbnb cash on cash: 5.42% Traditional cash on cash: 6.82% Airbnb Rental Income: $2368 Traditional Rental Income: $2120 Airbnb ROI: 5.42% Traditional ROI: 6.82%
2221 Grass Lake Lake, MI Price reduced !! Home sweet home away from home! Must see this much improved park model wi...	1 beds \| 1 baths \| 720 sq.ft.	$83,000	Airbnb cash on cash: 5.83% Traditional cash on cash: 11.7% Airbnb Rental Income: $1113 Traditional Rental Income: $1217 Airbnb ROI: 5.83% Traditional ROI: 11.7%
9523-25 Terry Street Lake, MI Here is one for the savvy shopper, it is a waterfront BOGO or 2fer. Two cottages on the be...	4 beds \| 2 baths \| 1,084 sq.ft.	$325,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.89% Airbnb Rental Income: $null Traditional Rental Income: $2149 Airbnb ROI: N/A Traditional ROI: 4.89%
2221 Grass Lake Ave Lake, MI Relax at your water front dream come true, full rap around deck to enjoy out door cooking ...	1 beds \| 1 baths \| 618 sq.ft.	$69,900	Airbnb cash on cash: 6.65% Traditional cash on cash: 11.18% Airbnb Rental Income: $1113 Traditional Rental Income: $1053 Airbnb ROI: 6.65% Traditional ROI: 11.18%
1361 N Crooked Lake Dr Lake, MI Get ready for summer fun with this 1200 sq. ft. cottage on beautiful Crooked Lake in Lake,...	3 beds \| 1 baths \| 1,200 sq.ft.	$279,900	Airbnb cash on cash: 3.89% Traditional cash on cash: 1.72% Airbnb Rental Income: $2368 Traditional Rental Income: $1211 Airbnb ROI: 3.89% Traditional ROI: 1.72%
11935 N Shore Drive Lake, MI Fantastic opportunity on beautiful 388 acre all-sports Eight Point Lake, Clare Counties la...	2 beds \| 1 baths \| 1,178 sq.ft.	$229,000	Airbnb cash on cash: -0.71% Traditional cash on cash: 5.67% Airbnb Rental Income: $702 Traditional Rental Income: $1779 Airbnb ROI: -0.71% Traditional ROI: 5.67%
1249 N Crooked Lake Dr Lake, MI Why settle for 1 cabin when you can own 4? Unique waterfront property with 4 cabins on the...	9 beds \| 4 baths \| 3,164 sq.ft.	$644,900	Airbnb cash on cash: -1.54% Traditional cash on cash: 1.73% Airbnb Rental Income: $702 Traditional Rental Income: $2364 Airbnb ROI: -1.54% Traditional ROI: 1.73%
4490 Ridgeway Lake, MI Super Waterfront on all sports Doc and Tom Lake / Canal.You can swim here it is clean and ...	3 beds \| 2 baths \| 1,456 sq.ft.	$289,000	Airbnb cash on cash: 3.61% Traditional cash on cash: 3.56% Airbnb Rental Income: $2368 Traditional Rental Income: $1771 Airbnb ROI: 3.61% Traditional ROI: 3.56%
10203 S Lake Station Lake, MI Clare County, two unit duplex just South of the Village of Lake, Near Crooked Lake and Per...	4 beds \| 2 baths \| 4,496 sq.ft.	$359,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.38% Airbnb Rental Income: $null Traditional Rental Income: $2687 Airbnb ROI: N/A Traditional ROI: 5.38%
10195 S Lake Station Lake, MI Clare County, Two structures with 2 units each, just South of the Village of Lake, Near Cr...	8 beds \| 4 baths \| 8,128 sq.ft.	$598,000	Airbnb cash on cash: 6.36% Traditional cash on cash: 4.55% Airbnb Rental Income: $5803 Traditional Rental Income: $3635 Airbnb ROI: 6.36% Traditional ROI: 4.55%
3340 Pinehurst Dr Lake, MI Stunning Lakefront Luxury: Your Dream Home Awaits Discover your lakeside paradise in this...	2 beds \| 1 baths \| 1,000 sq.ft.	$258,000	Airbnb cash on cash: -0.39% Traditional cash on cash: 4.63% Airbnb Rental Income: $702 Traditional Rental Income: $1618 Airbnb ROI: -0.39% Traditional ROI: 4.63%
10215 S Lake Station Lake, MI Great opportunity to own a duplex, possibility to live in one and rent out the other, each...	4 beds \| 2 baths \| 3,744 sq.ft.	$379,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.43% Airbnb Rental Income: $null Traditional Rental Income: $2678 Airbnb ROI: N/A Traditional ROI: 5.43%
11076 N Shore Drive Lake, MI Enjoy the spectacular sunrise lake views from this 4+ bedroom, 3-bath home with over 3,000...	4 beds \| 3 baths \| 3,062 sq.ft.	$673,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.4% Airbnb Rental Income: $null Traditional Rental Income: $3723 Airbnb ROI: N/A Traditional ROI: 4.4%
4280 Birch Drive Lake, MI Enjoy lake living full or part time at all sports Littlefield Lake. Great for kayaking and...	3 beds \| 2 baths \| 1,584 sq.ft.	$222,000	Airbnb cash on cash: 6.35% Traditional cash on cash: 9.22% Airbnb Rental Income: $2368 Traditional Rental Income: $2388 Airbnb ROI: 6.35% Traditional ROI: 9.22%
6364 Joanne Street Lake, MI A Sportsman's Paradise! Your dream life awaits at this peaceful, waterfront home on no-wak...	2 beds \| 1 baths \| 1,216 sq.ft.	$299,000	Airbnb cash on cash: -0.33% Traditional cash on cash: 5.14% Airbnb Rental Income: $702 Traditional Rental Income: $1935 Airbnb ROI: -0.33% Traditional ROI: 5.14%
8492 Gibson Ave Lake, MI 8492 Gibson Ave, Lake, MI 48632 \| Single Family Residential	6 beds \| 3 baths \| 2,496 sq.ft.	$400,000	Airbnb cash on cash: 9.62% Traditional cash on cash: 5.55% Airbnb Rental Income: $5803 Traditional Rental Income: $3120 Airbnb ROI: 9.62% Traditional ROI: 5.55%
6364 Joanne St Lot : 29 Lake, MI 6364 Joanne St Lot : 29, Lake, MI 48632 \| Single Family Residential	2 beds \| 1 baths \| 1,216 sq.ft.	$299,000	Airbnb cash on cash: -1.45% Traditional cash on cash: 2.01% Airbnb Rental Income: $702 Traditional Rental Income: $1368 Airbnb ROI: -1.45% Traditional ROI: 2.01%
8568 W Ludington Dr Lake, MI 8568 W Ludington Dr, Lake, MI 48632 \| Other	N/A beds \| N/A baths \| N/A	$59,000	Airbnb cash on cash: 0.72% Traditional cash on cash: 9.45% Airbnb Rental Income: $566 Traditional Rental Income: $800 Airbnb ROI: 0.72% Traditional ROI: 9.45%
Lot 26-30 Willow St Lake, MI Lot 26-30 Willow St, Lake, MI 48632 \| Other	N/A beds \| N/A baths \| N/A	$75,000	Airbnb cash on cash: 0.08% Traditional cash on cash: 8.63% Airbnb Rental Income: $566 Traditional Rental Income: $916 Airbnb ROI: 0.08% Traditional ROI: 8.63%
Lots 26-30 Willow St Lot : 26-30 Lake, MI Lots 26-30 Willow St Lot : 26-30, Lake, MI 48632 \| Other	N/A beds \| N/A baths \| N/A	$75,000	Airbnb cash on cash: 0.08% Traditional cash on cash: 7.06% Airbnb Rental Income: $566 Traditional Rental Income: $800 Airbnb ROI: 0.08% Traditional ROI: 7.06%
Lots 26-30 Willow St Lake, MI Lots 26-30 Willow St, Lake, MI 48632 \| Other	N/A beds \| N/A baths \| N/A	$75,000	Airbnb cash on cash: 0.08% Traditional cash on cash: 7.06% Airbnb Rental Income: $566 Traditional Rental Income: $800 Airbnb ROI: 0.08% Traditional ROI: 7.06%
6655 Cedarhurst Dr Lake, MI 6655 Cedarhurst Dr, Lake, MI 48632 \| Single Family Residential	3 beds \| 2 baths \| 2,106 sq.ft.	$309,000	Airbnb cash on cash: 3.13% Traditional cash on cash: 4.96% Airbnb Rental Income: $2368 Traditional Rental Income: $2317 Airbnb ROI: 3.13% Traditional ROI: 4.96%
1361 N Crooked Lake Dr Lot : 13 Lake, MI 1361 N Crooked Lake Dr Lot : 13, Lake, MI 48632 \| Single Family Residential	3 beds \| 1 baths \| 1,200 sq.ft.	$279,900	Airbnb cash on cash: 3.89% Traditional cash on cash: 3.68% Airbnb Rental Income: $2368 Traditional Rental Income: $1729 Airbnb ROI: 3.89% Traditional ROI: 3.68%
10365 Cadillac Drive Lake, MI Discover this rare 19.1-acre property located just off M-115. Featuring a 3-bedroom, 2-bat...	3 beds \| 2 baths \| 1,440 sq.ft.	$185,000	Airbnb cash on cash: 7.61% Traditional cash on cash: 10.1% Airbnb Rental Income: $2368 Traditional Rental Income: $2221 Airbnb ROI: 7.61% Traditional ROI: 10.1%
350 Lincoln Lake, MI Nestled in the Lake George community next to two All-Sports Lakes this 3-bedroom, 2-bathro...	3 beds \| 2 baths \| 1,344 sq.ft.	$149,900	Airbnb cash on cash: 9.29% Traditional cash on cash: 11.67% Airbnb Rental Income: $2368 Traditional Rental Income: $2126 Airbnb ROI: 9.29% Traditional ROI: 11.67%
5911 Jackson Ave Lake, MI 5911 Jackson Ave, Lake, MI 48632 \| Single Family Residential	3 beds \| 2 baths \| 1,080 sq.ft.	$170,000	Airbnb cash on cash: 7.93% Traditional cash on cash: 8.5% Airbnb Rental Income: $2368 Traditional Rental Income: $1878 Airbnb ROI: 7.93% Traditional ROI: 8.5%
8659 Wood View Dr Lake, MI 8659 Wood View Dr, Lake, MI 48632 \| Single Family Residential	3 beds \| 3 baths \| 2,464 sq.ft.	$399,900	Airbnb cash on cash: 1.99% Traditional cash on cash: 5.68% Airbnb Rental Income: $2368 Traditional Rental Income: $3168 Airbnb ROI: 1.99% Traditional ROI: 5.68%
7620 Monroe Rd Lake, MI 7620 Monroe Rd, Lake, MI 48632 \| Other	N/A beds \| N/A baths \| N/A	$249,900	Airbnb cash on cash: -1.72% Traditional cash on cash: 0.86% Airbnb Rental Income: $566 Traditional Rental Income: $890 Airbnb ROI: -1.72% Traditional ROI: 0.86%
6651 Tamarack Roads Lake, MI MOTIVATED SELLER- Immediate occupancy This is a ranch style home with a walk-out bsmt. The...	2 beds \| 3 baths \| 1,600 sq.ft.	$425,000	Airbnb cash on cash: -0.93% Traditional cash on cash: 3.98% Airbnb Rental Income: $702 Traditional Rental Income: $2350 Airbnb ROI: -0.93% Traditional ROI: 3.98%
6651 Tamarack Trl Lake, MI 6651 Tamarack Trl, Lake, MI 48632 \| Single Family Residential	2 beds \| 2 baths \| 1,600 sq.ft.	$425,000	Airbnb cash on cash: -1.81% Traditional cash on cash: 2.51% Airbnb Rental Income: $702 Traditional Rental Income: $2116 Airbnb ROI: -1.81% Traditional ROI: 2.51%
8307 Cortez Drive Lake, MI Honey look! The BEST of both worlds awaits you in this well appointed chalet w/breath-taki...	3 beds \| 2 baths \| 2,944 sq.ft.	$549,000	Airbnb cash on cash: 1.22% Traditional cash on cash: 3.38% Airbnb Rental Income: $2368 Traditional Rental Income: $2892 Airbnb ROI: 1.22% Traditional ROI: 3.38%
491 Big Stone Lake Lake, MI Welcome to your private country retreat! This beautifully maintained 3-bedroom, 2-bath hom...	3 beds \| 2 baths \| 1,334 sq.ft.	$290,000	Airbnb cash on cash: 4.4% Traditional cash on cash: 5.99% Airbnb Rental Income: $2368 Traditional Rental Income: $2219 Airbnb ROI: 4.4% Traditional ROI: 5.99%
2221 Grass Lake UNIT 250 Lake, MI Waterfront Park Model on Loon Landing! Sandy Shores Resort is just off of M 115 near Lake ...	1 beds \| 1 baths \| 660 sq.ft.	$89,900	Airbnb cash on cash: 4.08% Traditional cash on cash: 10.52% Airbnb Rental Income: $1113 Traditional Rental Income: $1305 Airbnb ROI: 4.08% Traditional ROI: 10.52%
3340 Pinehurst Lake, MI Welcome to your luxurious bungalow-style cottage with panoramic views of the highly sought...	2 beds \| 2 baths \| 1,000 sq.ft.	$258,000	Airbnb cash on cash: -1.37% Traditional cash on cash: 5% Airbnb Rental Income: $702 Traditional Rental Income: $1947 Airbnb ROI: -1.37% Traditional ROI: 5%
111 Woodland Walk Lake, MI Beautifully remodeled and completely turnkey 2-bedroom, 1-bath lake-view cottage overlooki...	2 beds \| 1 baths \| N/A	$145,000	Airbnb cash on cash: -0.33% Traditional cash on cash: 9.04% Airbnb Rental Income: $702 Traditional Rental Income: $1697 Airbnb ROI: -0.33% Traditional ROI: 9.04%
8033 Rolling Drive Lake, MI Tucked back on a spacious 3 acre corner shaded lot you can find this 1280 sq ft 3 bed 2 ba...	3 beds \| 2 baths \| 1,280 sq.ft.	$158,000	Airbnb cash on cash: 9.64% Traditional cash on cash: 11.92% Airbnb Rental Income: $2368 Traditional Rental Income: $2129 Airbnb ROI: 9.64% Traditional ROI: 11.92%
11339 W Alpine Dr Lake, MI 11339 W Alpine Dr, Lake, MI 48632 \| Single Family Residential	N/A beds \| 1 baths \| 384 sq.ft.	$129,900	Airbnb cash on cash: -0.99% Traditional cash on cash: 4.97% Airbnb Rental Income: $566 Traditional Rental Income: $1027 Airbnb ROI: -0.99% Traditional ROI: 4.97%
TBD Ridgeway Lot 89 Trl Lake, MI TBD Ridgeway Lot 89 Trl, Lake, MI 48632 \| Other	N/A beds \| N/A baths \| N/A	$84,900	Airbnb cash on cash: -0.44% Traditional cash on cash: 7.18% Airbnb Rental Income: $566 Traditional Rental Income: $917 Airbnb ROI: -0.44% Traditional ROI: 7.18%
5842 Woodland Dr Lake, MI 5842 Woodland Dr, Lake, MI 48632 \| Single Family Residential	2 beds \| 1 baths \| 558 sq.ft.	$84,000	Airbnb cash on cash: 1.18% Traditional cash on cash: 10.48% Airbnb Rental Income: $702 Traditional Rental Income: $1162 Airbnb ROI: 1.18% Traditional ROI: 10.48%

Real Estate investment in Lake, MI

There are 64 properties for sale in the city of Lake . The median list price in Lake is $171,450 and the average price per square foot is $125. In July 2026, the average monthly cash on cash return in Lake is 8.00%. The average monthly rental income in Lake is $1,782.

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

There are 64 investment properties available for sale in Lake.

In 2026, the best neighborhood to buy investment property is Lake.

The ROI for Long-Term is higher than the Short-Term in Lake with average rental income of $1,782.

Your search for investment property begins and ends here

Investment Property for Sale in Lake, MI

441 Hillcrest Drive

Lake, MI

3 beds | 2 baths | 1,400 sq.ft.

$184,900

Airbnb cash on cash: 8%

Traditional cash on cash: 9.47%

Airbnb Rental Income: $2368

Traditional Rental Income: $2043

Airbnb ROI: 8%

Traditional ROI: 9.47%

3230 Pinehurst

Lake, MI

3 beds | 2 baths | 1,260 sq.ft.

$253,900

Airbnb cash on cash: 5.42%

Traditional cash on cash: 6.82%

Airbnb Rental Income: $2368

Traditional Rental Income: $2120

Airbnb ROI: 5.42%

Traditional ROI: 6.82%

2221 Grass Lake

Lake, MI

1 beds | 1 baths | 720 sq.ft.

$83,000

Airbnb cash on cash: 5.83%

Traditional cash on cash: 11.7%

Airbnb Rental Income: $1113

Traditional Rental Income: $1217

Airbnb ROI: 5.83%

Traditional ROI: 11.7%

9523-25 Terry Street

Lake, MI

4 beds | 2 baths | 1,084 sq.ft.

$325,000

Airbnb cash on cash: N/A

Traditional cash on cash: 4.89%

Airbnb Rental Income: $null

Traditional Rental Income: $2149

Airbnb ROI: N/A

Traditional ROI: 4.89%

2221 Grass Lake Ave

Lake, MI

1 beds | 1 baths | 618 sq.ft.

$69,900

Airbnb cash on cash: 6.65%

Traditional cash on cash: 11.18%

Airbnb Rental Income: $1113

Traditional Rental Income: $1053

Airbnb ROI: 6.65%

Traditional ROI: 11.18%

1361 N Crooked Lake Dr

Lake, MI

3 beds | 1 baths | 1,200 sq.ft.

$279,900

Airbnb cash on cash: 3.89%

Traditional cash on cash: 1.72%

Airbnb Rental Income: $2368

Traditional Rental Income: $1211

Airbnb ROI: 3.89%

Traditional ROI: 1.72%

11935 N Shore Drive

Lake, MI

2 beds | 1 baths | 1,178 sq.ft.

$229,000

Airbnb cash on cash: -0.71%

Traditional cash on cash: 5.67%

Airbnb Rental Income: $702

Traditional Rental Income: $1779

Airbnb ROI: -0.71%

Traditional ROI: 5.67%

1249 N Crooked Lake Dr

Lake, MI

9 beds | 4 baths | 3,164 sq.ft.

$644,900

Airbnb cash on cash: -1.54%

Traditional cash on cash: 1.73%

Airbnb Rental Income: $702

Traditional Rental Income: $2364

Airbnb ROI: -1.54%