Real Estate Investment Properties for Sale in Cheboygan, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
1357 Sharon Lane Cheboygan, MI This charming 3-bedroom home offers a peaceful setting in a quiet subdivision, with the ad...	3 beds \| 1 baths \| 1,410 sq.ft.	$239,000	Airbnb cash on cash: 7.85% Traditional cash on cash: 6.16% Airbnb Rental Income: $3150 Traditional Rental Income: $2054 Airbnb ROI: 7.85% Traditional ROI: 6.16%
16294 MORNINGSIDE LANE Cheboygan, MI Escape to this charming 2-bedroom, 2-bath ranch home offering breathtaking views and deede...	2 beds \| 2 baths \| 1,481 sq.ft.	$379,000	Airbnb cash on cash: 3.85% Traditional cash on cash: 4.49% Airbnb Rental Income: $2585 Traditional Rental Income: $2191 Airbnb ROI: 3.85% Traditional ROI: 4.49%
1600 Bancroft Street Cheboygan, MI Peaceful country setting within the city limits. 3+ acres with abundant wildlife. This wel...	3 beds \| 2 baths \| 1,273 sq.ft.	$220,000	Airbnb cash on cash: 8.73% Traditional cash on cash: 7.61% Airbnb Rental Income: $3150 Traditional Rental Income: $2203 Airbnb ROI: 8.73% Traditional ROI: 7.61%
225 BACKUS STREET Cheboygan, MI Looking for an investment property? This 4 plex could be just the ticket. Property is loca...	N/A beds \| N/A baths \| 2,531 sq.ft.	$189,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.93% Airbnb Rental Income: $null Traditional Rental Income: $1251 Airbnb ROI: N/A Traditional ROI: 3.93%
354 Sammons Street Cheboygan, MI The home includes a upper level unit with 3 bedrooms and 1 bath. The lower level included ...	N/A beds \| N/A baths \| N/A	$185,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.67% Airbnb Rental Income: $null Traditional Rental Income: $1421 Airbnb ROI: N/A Traditional ROI: 5.67%
120A RIVERSIDE DRIVE Cheboygan, MI Enjoy peaceful living in this newly remodeled condo situated directly on the beautiful Che...	2 beds \| 2 baths \| 1,600 sq.ft.	$445,000	Airbnb cash on cash: 1.82% Traditional cash on cash: 2.22% Airbnb Rental Income: $2585 Traditional Rental Income: $2133 Airbnb ROI: 1.82% Traditional ROI: 2.22%
7392 M-33 Cheboygan, MI This charming property offers just over an acre of wooded tranquility, providing a peacefu...	2 beds \| 1 baths \| 2,016 sq.ft.	$186,500	Airbnb cash on cash: 8.05% Traditional cash on cash: 7.11% Airbnb Rental Income: $2585 Traditional Rental Income: $1800 Airbnb ROI: 8.05% Traditional ROI: 7.11%
170 Riverside Drive Cheboygan, MI Enjoy the inland waterway from this convenient location near the Lincoln Street bridge in ...	3 beds \| 2 baths \| 2,800 sq.ft.	$449,900	Airbnb cash on cash: 3.04% Traditional cash on cash: 4.34% Airbnb Rental Income: $3150 Traditional Rental Income: $2983 Airbnb ROI: 3.04% Traditional ROI: 4.34%
6544 M-33 Cheboygan, MI Discover your countryside retreat on 24 acres with country views and unparalleled outdoor ...	4 beds \| 2 baths \| 2,355 sq.ft.	$315,000	Airbnb cash on cash: 5.83% Traditional cash on cash: 6.06% Airbnb Rental Income: $3309 Traditional Rental Income: $2635 Airbnb ROI: 5.83% Traditional ROI: 6.06%
1050 MACKINAW AVENUE Cheboygan, MI Welcome to this cute, cozy and meticulously maintained home. When you enter this home you...	3 beds \| 4 baths \| 1,562 sq.ft.	$259,000	Airbnb cash on cash: 7.94% Traditional cash on cash: 8.8% Airbnb Rental Income: $3150 Traditional Rental Income: $2645 Airbnb ROI: 7.94% Traditional ROI: 8.8%
103 N Bailey Street Cheboygan, MI Step into a world where history meets lifestyle in this beautifully preserved Victorian ge...	5 beds \| 2 baths \| 3,279 sq.ft.	$245,500	Airbnb cash on cash: N/A Traditional cash on cash: 9.4% Airbnb Rental Income: $null Traditional Rental Income: $2858 Airbnb ROI: N/A Traditional ROI: 9.4%
9408 N Straits Highway Cheboygan, MI Opportunity abounds with this 8 acres on the Inland Waterway! Zoned commercial developme...	3 beds \| 2 baths \| 1,352 sq.ft.	$995,000	Airbnb cash on cash: 1.17% Traditional cash on cash: 1.24% Airbnb Rental Income: $3150 Traditional Rental Income: $2505 Airbnb ROI: 1.17% Traditional ROI: 1.24%
2752 W Us 23 Highway Cheboygan, MI Property Under Contract	3 beds \| 2 baths \| 1,400 sq.ft.	$250,000	Airbnb cash on cash: 8.21% Traditional cash on cash: 6.75% Airbnb Rental Income: $3150 Traditional Rental Income: $2091 Airbnb ROI: 8.21% Traditional ROI: 6.75%
2919 Cedar Beach Lane Cheboygan, MI Experience lakeside luxury with this stunning 4 bed, 4 bath home situated on the serene sh...	4 beds \| 4 baths \| 3,803 sq.ft.	$875,000	Airbnb cash on cash: 0.51% Traditional cash on cash: 2.69% Airbnb Rental Income: $3309 Traditional Rental Income: $4344 Airbnb ROI: 0.51% Traditional ROI: 2.69%
4310 E Burt Lake Road Cheboygan, MI Welcome to 4310 E Burt Lake Rd! Enjoy this beautiful, open, bright and meticulously mainta...	4 beds \| 2 baths \| 1,914 sq.ft.	$449,000	Airbnb cash on cash: 4.07% Traditional cash on cash: 4.38% Airbnb Rental Income: $3309 Traditional Rental Income: $2699 Airbnb ROI: 4.07% Traditional ROI: 4.38%
7608 W US 23 Cheboygan, MI Priced to sell. Sitting on the bluff with the view of Lake Huron as far as the eye can se...	3 beds \| 2 baths \| 1,152 sq.ft.	$399,900	Airbnb cash on cash: 4.89% Traditional cash on cash: 4.67% Airbnb Rental Income: $3150 Traditional Rental Income: $2353 Airbnb ROI: 4.89% Traditional ROI: 4.67%
651 LAHAIE ROAD Cheboygan, MI Beautiful home with land just outside the city Limits. This 4 bedroom home has had many u...	4 beds \| 2 baths \| 2,915 sq.ft.	$218,000	Airbnb cash on cash: 9.47% Traditional cash on cash: 10.4% Airbnb Rental Income: $3309 Traditional Rental Income: $2761 Airbnb ROI: 9.47% Traditional ROI: 10.4%
2232 N BIRCHWOOD ACCESS ROAD Cheboygan, MI Looking for a renovated cozy lakeshore cabin with the best sandy bottomed 204' of waterfro...	2 beds \| 1 baths \| 600 sq.ft.	$425,000	Airbnb cash on cash: 2.18% Traditional cash on cash: 0.46% Airbnb Rental Income: $2585 Traditional Rental Income: $1282 Airbnb ROI: 2.18% Traditional ROI: 0.46%
6626 Varonica Lane Cheboygan, MI Welcome to the Inland Waterway, featuring over 42 miles of rivers and lakes to explore rig...	3 beds \| 2 baths \| 1,749 sq.ft.	$370,000	Airbnb cash on cash: 5.02% Traditional cash on cash: 6.13% Airbnb Rental Income: $3150 Traditional Rental Income: $2819 Airbnb ROI: 5.02% Traditional ROI: 6.13%
660 LAPERELL ROAD Cheboygan, MI Discover a one-of-a-kind living experience in this custom-built, 3-bedroom, 2-bath cordwoo...	3 beds \| 2 baths \| 2,268 sq.ft.	$399,000	Airbnb cash on cash: 4.9% Traditional cash on cash: 5.34% Airbnb Rental Income: $3150 Traditional Rental Income: $2600 Airbnb ROI: 4.9% Traditional ROI: 5.34%
8751 CORDWOOD TRAIL Cheboygan, MI Experience the ultimate lakefront lifestyle in this beautiful 3-bedroom, 2-bath home with ...	3 beds \| 2 baths \| 1,800 sq.ft.	$480,000	Airbnb cash on cash: 3.26% Traditional cash on cash: 3.35% Airbnb Rental Income: $3150 Traditional Rental Income: $2477 Airbnb ROI: 3.26% Traditional ROI: 3.35%
7461 Mullett Burt Road Cheboygan, MI Located on the North East shore of Burt Lake nestled nicely in the sand bay sometimes refe...	3 beds \| 3 baths \| 1,750 sq.ft.	$1,225,000	Airbnb cash on cash: 0.38% Traditional cash on cash: 0.83% Airbnb Rental Income: $3150 Traditional Rental Income: $2943 Airbnb ROI: 0.38% Traditional ROI: 0.83%
10835 MOONLIGHT BAY ROAD Cheboygan, MI Escape to your own piece of paradise on Moonlight Bay! This stunning 3-bedroom, 2-bath hom...	3 beds \| 2 baths \| 1,635 sq.ft.	$599,000	Airbnb cash on cash: 3.18% Traditional cash on cash: 3.15% Airbnb Rental Income: $3150 Traditional Rental Income: $2420 Airbnb ROI: 3.18% Traditional ROI: 3.15%
2921 S Extension Road Cheboygan, MI GREAT LOCATION! This recently updated 3-bedroom, 2-bathroom ranch sits on nearly 8 acres o...	3 beds \| 2 baths \| 1,188 sq.ft.	$229,900	Airbnb cash on cash: 9.24% Traditional cash on cash: 7.74% Airbnb Rental Income: $3150 Traditional Rental Income: $2111 Airbnb ROI: 9.24% Traditional ROI: 7.74%

Real Estate investment in Cheboygan, MI

There are 26 properties for sale in the city of Cheboygan . The median list price in Cheboygan is $224,950 and the average price per square foot is $131. In January 2025, the average monthly cash on cash return in Cheboygan is 6.00%. The average monthly rental income in Cheboygan is $2,169.

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

There are 26 investment properties available for sale in Cheboygan.

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

The ROI for Short-Term is higher than the Long-Term in Cheboygan with average rental income of $3,150.

Your search for investment property begins and ends here

Investment Property for Sale in Cheboygan, MI

1357 Sharon Lane

Cheboygan, MI

3 beds | 1 baths | 1,410 sq.ft.

$239,000

Airbnb cash on cash: 7.85%

Traditional cash on cash: 6.16%

Airbnb Rental Income: $3150

Traditional Rental Income: $2054

Airbnb ROI: 7.85%

Traditional ROI: 6.16%

16294 MORNINGSIDE LANE

Cheboygan, MI

2 beds | 2 baths | 1,481 sq.ft.

$379,000

Airbnb cash on cash: 3.85%

Traditional cash on cash: 4.49%

Airbnb Rental Income: $2585

Traditional Rental Income: $2191

Airbnb ROI: 3.85%

Traditional ROI: 4.49%

1600 Bancroft Street

Cheboygan, MI

3 beds | 2 baths | 1,273 sq.ft.

$220,000

Airbnb cash on cash: 8.73%

Traditional cash on cash: 7.61%

Airbnb Rental Income: $3150

Traditional Rental Income: $2203

Airbnb ROI: 8.73%

Traditional ROI: 7.61%

225 BACKUS STREET

Cheboygan, MI

N/A beds | N/A baths | 2,531 sq.ft.

$189,000

Airbnb cash on cash: N/A

Traditional cash on cash: 3.93%

Airbnb Rental Income: $null

Traditional Rental Income: $1251

Airbnb ROI: N/A

Traditional ROI: 3.93%

354 Sammons Street

Cheboygan, MI

N/A beds | N/A baths | N/A

$185,000

Airbnb cash on cash: N/A

Traditional cash on cash: 5.67%

Airbnb Rental Income: $null

Traditional Rental Income: $1421

Airbnb ROI: N/A

Traditional ROI: 5.67%

120A RIVERSIDE DRIVE

Cheboygan, MI

2 beds | 2 baths | 1,600 sq.ft.

$445,000

Airbnb cash on cash: 1.82%

Traditional cash on cash: 2.22%

Airbnb Rental Income: $2585

Traditional Rental Income: $2133

Airbnb ROI: 1.82%

Traditional ROI: 2.22%

7392 M-33

Cheboygan, MI

2 beds | 1 baths | 2,016 sq.ft.

$186,500

Airbnb cash on cash: 8.05%

Traditional cash on cash: 7.11%

Airbnb Rental Income: $2585

Traditional Rental Income: $1800

Airbnb ROI: 8.05%

Traditional ROI: 7.11%

170 Riverside Drive

Cheboygan, MI

3 beds | 2 baths | 2,800 sq.ft.

$449,900

Airbnb cash on cash: 3.04%

Traditional cash on cash: 4.34%

Airbnb Rental Income: $3150

Traditional Rental Income: $2983

Airbnb ROI: 3.04%