Real Estate Investment Properties for Sale in Kalama, WA

Looking for investment property in Kalama, WA with high ROI ?

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

separator

PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
272 MILITARY RD Kalama, WA This bright and inviting Kalama home blends modern updates with unique 1920s charm. Remode...	4 beds \| 2 baths \| 2,144 sq.ft.	$470,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.04% Airbnb Rental Income: $null Traditional Rental Income: $3524 Airbnb ROI: N/A Traditional ROI: 6.04%
850 WATERS WATCH RD Kalama, WA Peek-a-Boo River Views in a Beautifully Updated Home! This spacious and thoughtfully desig...	4 beds \| 3 baths \| 2,538 sq.ft.	$675,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.25% Airbnb Rental Income: $null Traditional Rental Income: $3183 Airbnb ROI: N/A Traditional ROI: 3.25%
1545 CHINA GARDEN RD Kalama, WA Great Kalama location ...A private secluded high quality home with serenity in a nature f...	4 beds \| 3 baths \| 2,450 sq.ft.	$749,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.41% Airbnb Rental Income: $null Traditional Rental Income: $3744 Airbnb ROI: N/A Traditional ROI: 3.41%
442 VARSITY RD Kalama, WA Incredible Columbia river views from nearly every room. Custom designed, meticulously buil...	4 beds \| 4 baths \| 4,430 sq.ft.	$1,299,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.56% Airbnb Rental Income: $null Traditional Rental Income: $4122 Airbnb ROI: N/A Traditional ROI: 1.56%
1002 CEDAR ST Kalama, WA Welcome to 1002 Cedar St, Kalama, WA â a beautifully remodeled duplex offering the perfe...	N/A beds \| N/A baths \| 1,656 sq.ft.	$575,000	Airbnb cash on cash: -0.46% Traditional cash on cash: 2.25% Airbnb Rental Income: $939 Traditional Rental Income: $2053 Airbnb ROI: -0.46% Traditional ROI: 2.25%
1002 N 1ST ST Kalama, WA Updated Kalama home with Columbia River views priced for quick sale! Just a half mile to d...	3 beds \| 2 baths \| 1,392 sq.ft.	$460,000	Airbnb cash on cash: 0.57% Traditional cash on cash: 3.93% Airbnb Rental Income: $1508 Traditional Rental Income: $2514 Airbnb ROI: 0.57% Traditional ROI: 3.93%
216 GORE RD Kalama, WA Amazing Opportunity On This Stunning Home On Nearly 2 Acres With River & Mountain Views + ...	2 beds \| 3 baths \| 2,347 sq.ft.	$799,900	Airbnb cash on cash: -0.18% Traditional cash on cash: 3.15% Airbnb Rental Income: $1660 Traditional Rental Income: $3673 Airbnb ROI: -0.18% Traditional ROI: 3.15%
8475 KALAMA RIVER RD Kalama, WA BACK ON THE MARKET, NO FAULT OF SELLER! Escape to tranquility with this beautifully unique...	1 beds \| 1 baths \| 660 sq.ft.	$589,000	Airbnb cash on cash: -0.61% Traditional cash on cash: 2.33% Airbnb Rental Income: $824 Traditional Rental Income: $2113 Airbnb ROI: -0.61% Traditional ROI: 2.33%
810 TAYLOR RD Kalama, WA Revel in gorgeous Columbia River Views from the welcoming front porch and sun-filled livi...	2 beds \| 2 baths \| 893 sq.ft.	$454,900	Airbnb cash on cash: 1.49% Traditional cash on cash: 4.42% Airbnb Rental Income: $1660 Traditional Rental Income: $2440 Airbnb ROI: 1.49% Traditional ROI: 4.42%
601 Stone View WAY Kalama, WA Located in a highly desirable area w/neighborhood park, HOA Is only $60 per year, Short Dr...	3 beds \| 3 baths \| 1,740 sq.ft.	$489,900	Airbnb cash on cash: 0.42% Traditional cash on cash: 4.83% Airbnb Rental Income: $1508 Traditional Rental Income: $3088 Airbnb ROI: 0.42% Traditional ROI: 4.83%
2219 CHINA GARDEN RD Kalama, WA Gorgeous Kalama country home awaits! Three Bedrooms - Two Bathrooms all on main level and...	3 beds \| 2 baths \| 2,451 sq.ft.	$799,500	Airbnb cash on cash: 0.14% Traditional cash on cash: 3.2% Airbnb Rental Income: $1508 Traditional Rental Income: $3347 Airbnb ROI: 0.14% Traditional ROI: 3.2%
276 CHAMPION RD Kalama, WA Welcome to your picture-perfect retreat! Nestled on a private, tree-lined 2 acres, this be...	5 beds \| 3 baths \| 2,472 sq.ft.	$789,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.28% Airbnb Rental Income: $null Traditional Rental Income: $3773 Airbnb ROI: N/A Traditional ROI: 3.28%
362 OLIVIA LN Kalama, WA Welcome to this immaculately cared-for Custom Craftsman home perfectly positioned on a 2.3...	3 beds \| 3 baths \| 3,371 sq.ft.	$1,500,000	Airbnb cash on cash: -0.91% Traditional cash on cash: 1.21% Airbnb Rental Income: $1508 Traditional Rental Income: $4021 Airbnb ROI: -0.91% Traditional ROI: 1.21%
3287 Green Mountain RD Kalama, WA Currently 2 huge bedrooms, 2.5 bath SIP built home on 5 private acres with an 760 addition...	2 beds \| 3 baths \| 2,268 sq.ft.	$635,000	Airbnb cash on cash: 0.06% Traditional cash on cash: 3.88% Airbnb Rental Income: $1660 Traditional Rental Income: $3462 Airbnb ROI: 0.06% Traditional ROI: 3.88%
202 ROCKY MEADOW DR Kalama, WA Welcome to this beautifully maintained single-level home nestled in the Stone Forest commu...	3 beds \| 2 baths \| 1,746 sq.ft.	$499,999	Airbnb cash on cash: 0.38% Traditional cash on cash: 4.12% Airbnb Rental Income: $1508 Traditional Rental Income: $2818 Airbnb ROI: 0.38% Traditional ROI: 4.12%
161 SAUER RD Kalama, WA Beautiful sprawling single story home in Kalama with Columbia River views. This spacious 3...	3 beds \| 3 baths \| 2,183 sq.ft.	$764,000	Airbnb cash on cash: -0.38% Traditional cash on cash: 2.92% Airbnb Rental Income: $1508 Traditional Rental Income: $3415 Airbnb ROI: -0.38% Traditional ROI: 2.92%
145 WOODEN BRIDGE RD Kalama, WA Over the river and through the woods you'll find your own fairy tail come true. Located o...	4 beds \| 1 baths \| 1,856 sq.ft.	$479,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.75% Airbnb Rental Income: $null Traditional Rental Income: $2523 Airbnb ROI: N/A Traditional ROI: 3.75%
214 Old Spreadborough RD Kalama, WA Rustic Retreat with Subterranean Bunkers on Almost 18 Acres* Escape to your private oas...	1 beds \| 1 baths \| 600 sq.ft.	$419,000	Airbnb cash on cash: -0.62% Traditional cash on cash: 2.48% Airbnb Rental Income: $824 Traditional Rental Income: $1714 Airbnb ROI: -0.62% Traditional ROI: 2.48%

Real Estate investment in Kalama, WA

There are 18 properties for sale in the city of Kalama . The median list price in Kalama is $582,000 and the average price per square foot is $293. In September 2025, the average monthly cash on cash return in Kalama is 3.00%. The average monthly rental income in Kalama is $3,136.

Kalama, WA Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 18 investment properties available for sale in Kalama.

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

The ROI for Short-Term is higher than the Long-Term in Kalama with average rental income of $1,508.

Your search for investment property begins and ends here

Investment Property for Sale in Kalama, WA

272 MILITARY RD

Kalama, WA

4 beds | 2 baths | 2,144 sq.ft.

$470,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.04%

Airbnb Rental Income: $null

Traditional Rental Income: $3524

Airbnb ROI: N/A

Traditional ROI: 6.04%

850 WATERS WATCH RD

Kalama, WA

4 beds | 3 baths | 2,538 sq.ft.

$675,000

Airbnb cash on cash: N/A

Traditional cash on cash: 3.25%

Airbnb Rental Income: $null

Traditional Rental Income: $3183

Airbnb ROI: N/A

Traditional ROI: 3.25%

1545 CHINA GARDEN RD

Kalama, WA

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

$749,900

Airbnb cash on cash: N/A

Traditional cash on cash: 3.41%

Airbnb Rental Income: $null

Traditional Rental Income: $3744

Airbnb ROI: N/A

Traditional ROI: 3.41%

442 VARSITY RD

Kalama, WA

4 beds | 4 baths | 4,430 sq.ft.

$1,299,000

Airbnb cash on cash: N/A

Traditional cash on cash: 1.56%

Airbnb Rental Income: $null

Traditional Rental Income: $4122

Airbnb ROI: N/A

Traditional ROI: 1.56%

1002 CEDAR ST

Kalama, WA

N/A beds | N/A baths | 1,656 sq.ft.

$575,000

Airbnb cash on cash: -0.46%

Traditional cash on cash: 2.25%

Airbnb Rental Income: $939

Traditional Rental Income: $2053

Airbnb ROI: -0.46%

Traditional ROI: 2.25%

1002 N 1ST ST

Kalama, WA

3 beds | 2 baths | 1,392 sq.ft.

$460,000

Airbnb cash on cash: 0.57%

Traditional cash on cash: 3.93%

Airbnb Rental Income: $1508

Traditional Rental Income: $2514

Airbnb ROI: 0.57%

Traditional ROI: 3.93%

216 GORE RD

Kalama, WA

2 beds | 3 baths | 2,347 sq.ft.

$799,900

Airbnb cash on cash: -0.18%

Traditional cash on cash: 3.15%

Airbnb Rental Income: $1660

Traditional Rental Income: $3673

Airbnb ROI: -0.18%

Traditional ROI: 3.15%

8475 KALAMA RIVER RD

Kalama, WA

1 beds | 1 baths | 660 sq.ft.

$589,000

Airbnb cash on cash: -0.61%

Traditional cash on cash: 2.33%

Airbnb Rental Income: $824

Traditional Rental Income: $2113

Airbnb ROI: -0.61%