Real Estate Investment Properties for Sale in Elk Rapids, MI

Looking for investment property in Elk Rapids, MI with high ROI ?

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
7434 Terrace Avenue Elk Rapids, MI METICULOUSLY MAINTAINED HOME WITH GENEROUSLY SIZED YARD and only 110' from ELK LAKE Public...	3 beds \| 1 baths \| 1,698 sq.ft.	$449,900	Airbnb cash on cash: 3.47% Traditional cash on cash: 3.26% Airbnb Rental Income: $2904 Traditional Rental Income: $2142 Airbnb ROI: 3.47% Traditional ROI: 3.26%
104 Traverse Street Elk Rapids, MI Three bedroom, two bath home on rare double lot located just 1 block from downtown Elk Rap...	3 beds \| 2 baths \| 1,770 sq.ft.	$485,000	Airbnb cash on cash: 2.66% Traditional cash on cash: 2.81% Airbnb Rental Income: $2904 Traditional Rental Income: $2296 Airbnb ROI: 2.66% Traditional ROI: 2.81%
214 TRAVERSE Elk Rapids, MI This delightful home one block from the beach and downtown Elk Rapids if filled with light...	4 beds \| 3 baths \| 2,623 sq.ft.	$850,000	Airbnb cash on cash: 5.13% Traditional cash on cash: 2.37% Airbnb Rental Income: $6359 Traditional Rental Income: $2927 Airbnb ROI: 5.13% Traditional ROI: 2.37%
Investment Properties for Sale in Other Cities of Michigan
18217 SANTA ROSA Drive Detroit , MI Remarks: TENANT IN PLACE TO INCREASE YOUR PORTFOLIO 0R TO LIVE IN. AS IS SALE ONLY. 24 HO...	3 beds \| 1 baths \| 1,398 sq.ft.	$160,000	Airbnb cash on cash: 9.54% Traditional cash on cash: 8.31% Airbnb Rental Income: $2470 Traditional Rental Income: $1682 Airbnb ROI: 9.54% Traditional ROI: 8.31%
555 Vinewood Avenue Birmingham , MI UPSCALE. REFINED. SOPHISTICATED. ENERGIZING. THIS EXQUISITE RESIDENCE OFFERS THE MOST EXCE...	5 beds \| 7 baths \| 9,328 sq.ft.	$4,100,000	Airbnb cash on cash: N/A Traditional cash on cash: -0.6% Airbnb Rental Income: $null Traditional Rental Income: $6402 Airbnb ROI: N/A Traditional ROI: -0.6%
699 HANNA Street Birmingham , MI Located on perhaps one of Birmingham's most premiere streets, in the heart of downtown Bir...	3 beds \| 6 baths \| 4,590 sq.ft.	$2,999,000	Airbnb cash on cash: -1.08% Traditional cash on cash: -0.53% Airbnb Rental Income: $4012 Traditional Rental Income: $4687 Airbnb ROI: -1.08% Traditional ROI: -0.53%
15 E KIRBY Street #725 Detroit , MI Beautiful 2 Bedroom Condo in Historic Park Shelton Condominiums facing North with View of ...	2 beds \| 2 baths \| 1,130 sq.ft.	$263,900	Airbnb cash on cash: 1.31% Traditional cash on cash: 2.89% Airbnb Rental Income: $2310 Traditional Rental Income: $2131 Airbnb ROI: 1.31% Traditional ROI: 2.89%
2324 Nixon Road Ann Arbor , MI Modern elegance in this updated 4 bedroom, 2.5 bath northside ranch that exudes timeless c...	4 beds \| 3 baths \| 2,073 sq.ft.	$550,000	Airbnb cash on cash: 5.23% Traditional cash on cash: 2.36% Airbnb Rental Income: $5278 Traditional Rental Income: $2732 Airbnb ROI: 5.23% Traditional ROI: 2.36%
6168 Dreamcatcher Road Stevensville , MI Wyndstone Estates a sought after community. This home offers 4 bedrooms, 2.5 bathrooms, an...	4 beds \| 3 baths \| 2,350 sq.ft.	$465,000	Airbnb cash on cash: 6.8% Traditional cash on cash: 4.46% Airbnb Rental Income: $4978 Traditional Rental Income: $2943 Airbnb ROI: 6.8% Traditional ROI: 4.46%
200 Greenwood Street Birmingham , MI Located in one of the most desirable locations in Birmingham - steps away from downtown - ...	4 beds \| 4 baths \| 3,629 sq.ft.	$1,399,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.37% Airbnb Rental Income: $null Traditional Rental Income: $3430 Airbnb ROI: N/A Traditional ROI: 0.37%
451 VINEWOOD Avenue Birmingham , MI Welcome to this extraordinary home in the heart of downtown Birmingham. A short walk to yo...	5 beds \| 5 baths \| 5,323 sq.ft.	$3,995,000	Airbnb cash on cash: N/A Traditional cash on cash: -0.76% Airbnb Rental Income: $null Traditional Rental Income: $5388 Airbnb ROI: N/A Traditional ROI: -0.76%
600 Monroe Avenue NW #406 Grand Rapids , MI Stunning and distinguished 3 bedroom, 3 full bath Penthouse Downtown condo at Monroe Terra...	3 beds \| 3 baths \| 2,355 sq.ft.	$864,900	Airbnb cash on cash: -0.62% Traditional cash on cash: 0.65% Airbnb Rental Income: $2660 Traditional Rental Income: $3046 Airbnb ROI: -0.62% Traditional ROI: 0.65%
2320 TROON SOUTH Bellaire , MI Golfside Condo in Cedar River Village at Shanty Creek Resorts. Enjoy 26 weeks per year (1...	3 beds \| 4 baths \| 2,217 sq.ft.	$294,500	Airbnb cash on cash: 6.64% Traditional cash on cash: 8.15% Airbnb Rental Income: $3275 Traditional Rental Income: $2958 Airbnb ROI: 6.64% Traditional ROI: 8.15%
3496 Pine Acres Road Glennie , MI AMAZING LOCATON--Sitting on 5 beautiful acres, this cozy 2 bedroom, 1 bath home is located...	2 beds \| 1 baths \| 1,106 sq.ft.	$249,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.35% Airbnb Rental Income: $null Traditional Rental Income: $1461 Airbnb ROI: N/A Traditional ROI: 4.35%
10180 W Broomfield Road Remus , MI Escape to tranquility at 10180 W Broomfield Rd. This recently updated ranch features three...	3 beds \| 1 baths \| 2,300 sq.ft.	$229,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.29% Airbnb Rental Income: $null Traditional Rental Income: $2055 Airbnb ROI: N/A Traditional ROI: 7.29%
6519 Schuss Mountain Lane Mancelona , MI Welcome to an exceptional retreat at Schuss Mountain! This rare slope-side corner unit has...	2 beds \| 2 baths \| 850 sq.ft.	$274,900	Airbnb cash on cash: 3.32% Traditional cash on cash: 3.88% Airbnb Rental Income: $1792 Traditional Rental Income: $1451 Airbnb ROI: 3.32% Traditional ROI: 3.88%

Real Estate investment in Elk-rapids, MI

There are 3 properties for sale in the city of Elk Rapids . The median list price in Elk Rapids is $485,000 and the average price per square foot is $239. In January 2025, the average monthly cash on cash return in Elk Rapids is 3.00%. The average monthly rental income in Elk Rapids is $2,296.

Elk-rapids, MI Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 3 investment properties available for sale in Elk-rapids.

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

The ROI for Short-Term is higher than the Long-Term in Elk-rapids with average rental income of $2,904.

Your search for investment property begins and ends here

Investment Property for Sale in Elk Rapids, MI

7434 Terrace Avenue

Elk Rapids, MI

3 beds | 1 baths | 1,698 sq.ft.

$449,900

Airbnb cash on cash: 3.47%

Traditional cash on cash: 3.26%

Airbnb Rental Income: $2904

Traditional Rental Income: $2142

Airbnb ROI: 3.47%

Traditional ROI: 3.26%

104 Traverse Street

Elk Rapids, MI

3 beds | 2 baths | 1,770 sq.ft.

$485,000

Airbnb cash on cash: 2.66%

Traditional cash on cash: 2.81%

Airbnb Rental Income: $2904

Traditional Rental Income: $2296

Airbnb ROI: 2.66%

Traditional ROI: 2.81%

214 TRAVERSE

Elk Rapids, MI

4 beds | 3 baths | 2,623 sq.ft.

$850,000

Airbnb cash on cash: 5.13%

Traditional cash on cash: 2.37%

Airbnb Rental Income: $6359

Traditional Rental Income: $2927

Airbnb ROI: 5.13%

Traditional ROI: 2.37%

Investment Properties for Sale in Other Cities of Michigan

Detroit , MI

3 beds | 1 baths | 1,398 sq.ft.

$160,000

Airbnb cash on cash: 9.54%

Traditional cash on cash: 8.31%

Airbnb Rental Income: $2470

Traditional Rental Income: $1682

Airbnb ROI: 9.54%

Traditional ROI: 8.31%

Birmingham , MI

5 beds | 7 baths | 9,328 sq.ft.

$4,100,000

Airbnb cash on cash: N/A

Traditional cash on cash: -0.6%

Airbnb Rental Income: $null

Traditional Rental Income: $6402

Airbnb ROI: N/A

Traditional ROI: -0.6%

Birmingham , MI

3 beds | 6 baths | 4,590 sq.ft.

$2,999,000

Airbnb cash on cash: -1.08%

Traditional cash on cash: -0.53%

Airbnb Rental Income: $4012

Traditional Rental Income: $4687

Airbnb ROI: -1.08%

Traditional ROI: -0.53%

Detroit , MI

2 beds | 2 baths | 1,130 sq.ft.

$263,900

Airbnb cash on cash: 1.31%

Traditional cash on cash: 2.89%

Airbnb Rental Income: $2310

Traditional Rental Income: $2131

Airbnb ROI: 1.31%

Traditional ROI: 2.89%

Ann Arbor , MI

4 beds | 3 baths | 2,073 sq.ft.

$550,000

Airbnb cash on cash: 5.23%

Traditional cash on cash: 2.36%

Airbnb Rental Income: $5278

Traditional Rental Income: $2732

Airbnb ROI: 5.23%

Traditional ROI: 2.36%

Stevensville , MI

4 beds | 3 baths | 2,350 sq.ft.

$465,000