Real Estate Investment Properties for Sale in Houghton Lake, MI

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

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

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
129 Rapson Houghton Lake, MI This Beautiful 3-bedroom, 1 bath home features an open concept with vault ceilings great f...	3 beds \| 1 baths \| 1,430 sq.ft.	$179,900	Airbnb cash on cash: 6.69% Traditional cash on cash: 8.47% Airbnb Rental Income: $2230 Traditional Rental Income: $1973 Airbnb ROI: 6.69% Traditional ROI: 8.47%
4675 Bradford Drive Houghton Lake, MI This gorgeous 3-bedroom, 2-bathroom canal-front home has undergone extensive remodeling an...	3 beds \| 2 baths \| 1,500 sq.ft.	$369,900	Airbnb cash on cash: 2.02% Traditional cash on cash: 4.35% Airbnb Rental Income: $2230 Traditional Rental Income: $2479 Airbnb ROI: 2.02% Traditional ROI: 4.35%
103 Alma Houghton Lake, MI Welcome to your new spacious home located in a prime area just steps away from Houghton La...	3 beds \| 2 baths \| 1,512 sq.ft.	$185,000	Airbnb cash on cash: 6.45% Traditional cash on cash: 9.48% Airbnb Rental Income: $2230 Traditional Rental Income: $2203 Airbnb ROI: 6.45% Traditional ROI: 9.48%
209 Boatman Road Houghton Lake, MI This 4-bedroom, 3-bath ranch home is located in a quiet, family-friendly neighborhood, off...	4 beds \| 3 baths \| 2,528 sq.ft.	$299,900	Airbnb cash on cash: 7.11% Traditional cash on cash: 8.22% Airbnb Rental Income: $3600 Traditional Rental Income: $3127 Airbnb ROI: 7.11% Traditional ROI: 8.22%
2230 Long Point Drive Houghton Lake, MI Located on prestigious Long Point Drive, this beautifully updated canal-front home offers ...	3 beds \| 2 baths \| 1,550 sq.ft.	$435,000	Airbnb cash on cash: 1.34% Traditional cash on cash: 3.19% Airbnb Rental Income: $2230 Traditional Rental Income: $2423 Airbnb ROI: 1.34% Traditional ROI: 3.19%
7958 Stone School Road Houghton Lake, MI Cozy 3 bedroom home features large open kitchen & dining, boasting storage & pantry space....	3 beds \| 2 baths \| 1,248 sq.ft.	$158,000	Airbnb cash on cash: 7.93% Traditional cash on cash: 11.81% Airbnb Rental Income: $2230 Traditional Rental Income: $2254 Airbnb ROI: 7.93% Traditional ROI: 11.81%
6891 E Houghton Lake Drive #8 Houghton Lake, MI Lakefront Special!!! Shared Lakefront with docking and mooring rights!! Great association ...	2 beds \| 1 baths \| 560 sq.ft.	$134,900	Airbnb cash on cash: 4.08% Traditional cash on cash: 7.53% Airbnb Rental Income: $1375 Traditional Rental Income: $1405 Airbnb ROI: 4.08% Traditional ROI: 7.53%
100 Chippendale Drive Houghton Lake, MI Welcome to your dream home! This nicely maintained residence offers four spacious bedrooms...	4 beds \| 2 baths \| 1,950 sq.ft.	$199,900	Airbnb cash on cash: 7.7% Traditional cash on cash: 10.37% Airbnb Rental Income: $2665 Traditional Rental Income: $2539 Airbnb ROI: 7.7% Traditional ROI: 10.37%
5287 W Houghton Lake Drive Houghton Lake, MI An established short-term rental, this home can be your year-round home, an income investm...	4 beds \| 3 baths \| 1,904 sq.ft.	$279,900	Airbnb cash on cash: 8.59% Traditional cash on cash: 8.88% Airbnb Rental Income: $3600 Traditional Rental Income: $2886 Airbnb ROI: 8.59% Traditional ROI: 8.88%
126 Clearview Drive Houghton Lake, MI 200' of Lakefront on Houghton Lake, a very rare find. Solid built, full brick home in need...	3 beds \| 2 baths \| 2,371 sq.ft.	$599,000	Airbnb cash on cash: 0.83% Traditional cash on cash: 3.04% Airbnb Rental Income: $2230 Traditional Rental Income: $2901 Airbnb ROI: 0.83% Traditional ROI: 3.04%
6366 W Houghton Lake Drive #7/8 Houghton Lake, MI Welcome to your year-round retreat in Houghton Lake! This delightful 2-bedroom, 2-bathroom...	2 beds \| 2 baths \| 800 sq.ft.	$129,900	Airbnb cash on cash: 3.55% Traditional cash on cash: 8.13% Airbnb Rental Income: $1375 Traditional Rental Income: $1529 Airbnb ROI: 3.55% Traditional ROI: 8.13%
5167 E Houghton Lake Drive Houghton Lake, MI Welcome to 5167 E. Houghton Lk. Dr. Houghton Lake, Michigan. Beautiful Houghton Lake offer...	3 beds \| 3 baths \| 1,930 sq.ft.	$289,900	Airbnb cash on cash: 3.63% Traditional cash on cash: 9.27% Airbnb Rental Income: $2230 Traditional Rental Income: $3211 Airbnb ROI: 3.63% Traditional ROI: 9.27%
2457 S Townline Road Houghton Lake, MI REDUCED!!Deeded Water access allowing you to dock your boat & stunning lake views of Hough...	4 beds \| 2 baths \| 1,536 sq.ft.	$264,900	Airbnb cash on cash: 9.27% Traditional cash on cash: 7.65% Airbnb Rental Income: $3600 Traditional Rental Income: $2407 Airbnb ROI: 9.27% Traditional ROI: 7.65%
207 BUTTERFIELD Lane Houghton Lake, MI Charming ranch home in a quiet subdivision just a mile and half from Michigan's playground...	3 beds \| 1 baths \| 1,100 sq.ft.	$199,900	Airbnb cash on cash: 6.45% Traditional cash on cash: 7.33% Airbnb Rental Income: $2230 Traditional Rental Income: $1838 Airbnb ROI: 6.45% Traditional ROI: 7.33%
10360 West Shore Drive Houghton Lake, MI Exceptional Houghton Lake setting, featuring a spacious 2 BR 2 bath direct waterfront home...	2 beds \| 2 baths \| 1,800 sq.ft.	$1,500,000	Airbnb cash on cash: -1.91% Traditional cash on cash: -0.32% Airbnb Rental Income: $1375 Traditional Rental Income: $3172 Airbnb ROI: -1.91% Traditional ROI: -0.32%
120 Marina Street Houghton Lake, MI ONE YEAR HOME WARRANTY INCLUDED!!! Sitting on a peninsula with access to the deepest canal...	5 beds \| 3 baths \| 2,600 sq.ft.	$274,900	Airbnb cash on cash: N/A Traditional cash on cash: 10.8% Airbnb Rental Income: $null Traditional Rental Income: $3371 Airbnb ROI: N/A Traditional ROI: 10.8%
925 S Loxley Road Houghton Lake, MI Spacious 5 bedroom home.. a rare find. Giant living room and huge open air kitchen. Sunr...	5 beds \| 2 baths \| 2,200 sq.ft.	$229,000	Airbnb cash on cash: N/A Traditional cash on cash: 11.05% Airbnb Rental Income: $null Traditional Rental Income: $2825 Airbnb ROI: N/A Traditional ROI: 11.05%
116 Jefferson Avenue Houghton Lake, MI Charming home within walking distance to the sparkling waters of Houghton Lake. This home...	2 beds \| 1 baths \| 668 sq.ft.	$119,000	Airbnb cash on cash: 5.94% Traditional cash on cash: 10.61% Airbnb Rental Income: $1375 Traditional Rental Income: $1493 Airbnb ROI: 5.94% Traditional ROI: 10.61%
116 Miami Drive Houghton Lake, MI Luxury canal front. Newly remodeled flooring, windows, interior and exterior walls, cabine...	2 beds \| 2 baths \| 1,472 sq.ft.	$399,000	Airbnb cash on cash: 0.84% Traditional cash on cash: 3.94% Airbnb Rental Income: $1375 Traditional Rental Income: $2113 Airbnb ROI: 0.84% Traditional ROI: 3.94%
112 McKee Street Houghton Lake, MI Hougton Lake Deeded Access AND space for your dream pole barn! This property is situated o...	2 beds \| 2 baths \| 936 sq.ft.	$174,900	Airbnb cash on cash: 3.67% Traditional cash on cash: 8.98% Airbnb Rental Income: $1388 Traditional Rental Income: $1852 Airbnb ROI: 3.67% Traditional ROI: 8.98%
312 Huron Houghton Lake, MI Nestled in the heart of town, this charming 2-bedroom, 2-bath ranch offers comfortable liv...	2 beds \| 2 baths \| 1,500 sq.ft.	$179,900	Airbnb cash on cash: 2.53% Traditional cash on cash: 9.29% Airbnb Rental Income: $1375 Traditional Rental Income: $2114 Airbnb ROI: 2.53% Traditional ROI: 9.29%
107 Pepperell Avenue Houghton Lake, MI TWO LIVING AREAS, FULLY FINISHED WALKOUT BASEMENT, AND HOME WARRANTY! With main and lower ...	4 beds \| 3 baths \| 3,000 sq.ft.	$379,900	Airbnb cash on cash: 5.93% Traditional cash on cash: 7% Airbnb Rental Income: $3600 Traditional Rental Income: $3194 Airbnb ROI: 5.93% Traditional ROI: 7%
103 Beech Street Houghton Lake, MI Discover the endless possibilities with this charming 2-bedroom, 1-bathroom house situated...	2 beds \| 1 baths \| 760 sq.ft.	$119,000	Airbnb cash on cash: 5.02% Traditional cash on cash: 9.86% Airbnb Rental Income: $1375 Traditional Rental Income: $1513 Airbnb ROI: 5.02% Traditional ROI: 9.86%
1321 E Houghton Lake Drive Houghton Lake, MI Motivated sellers on Houghton Lake w 70 ft of water frontage on this East bay location!! S...	3 beds \| 2 baths \| 1,344 sq.ft.	$475,000	Airbnb cash on cash: 1.44% Traditional cash on cash: 3.25% Airbnb Rental Income: $2230 Traditional Rental Income: $2474 Airbnb ROI: 1.44% Traditional ROI: 3.25%
3113 Long Point Drive Houghton Lake, MI Beautiful views of the sunset comes with this 120 feet on Houghton Lake! The lot on the l...	3 beds \| 2 baths \| 1,464 sq.ft.	$749,900	Airbnb cash on cash: -0.27% Traditional cash on cash: 0.98% Airbnb Rental Income: $2230 Traditional Rental Income: $2548 Airbnb ROI: -0.27% Traditional ROI: 0.98%
3113 Long Point Houghton Lake, MI Beautiful views of the sunset comes with this 120 feet on Houghton Lake! The lot on the l...	3 beds \| 2 baths \| 1,464 sq.ft.	$749,900	Airbnb cash on cash: -0.27% Traditional cash on cash: 0.96% Airbnb Rental Income: $2230 Traditional Rental Income: $2534 Airbnb ROI: -0.27% Traditional ROI: 0.96%
107 Hardwood Avenue Houghton Lake, MI Welcome to this cozy abode just 1 block from Houghton Lake. Perfect location for hunting o...	2 beds \| 1 baths \| 618 sq.ft.	$123,900	Airbnb cash on cash: 5.36% Traditional cash on cash: 8.43% Airbnb Rental Income: $1375 Traditional Rental Income: $1324 Airbnb ROI: 5.36% Traditional ROI: 8.43%
126 Bryan J Drive Houghton Lake, MI Welcome to beautiful Houghton Lake! This 3 bed 3 bath home on desirable Bryan J Drive, has...	3 beds \| 3 baths \| 1,650 sq.ft.	$399,999	Airbnb cash on cash: 2.36% Traditional cash on cash: 5.02% Airbnb Rental Income: $2230 Traditional Rental Income: $2668 Airbnb ROI: 2.36% Traditional ROI: 5.02%
895 E Houghton Lake Drive Houghton Lake, MI Welcome to your dream lakefront home on Houghton Lake! This stunning residence offers 75ft...	4 beds \| 3 baths \| 2,375 sq.ft.	$1,499,000	Airbnb cash on cash: -0.58% Traditional cash on cash: -0.35% Airbnb Rental Income: $3600 Traditional Rental Income: $3128 Airbnb ROI: -0.58% Traditional ROI: -0.35%
302 Sanford Avenue Houghton Lake, MI Charming ranch home or cottage located just across from Houghton Lake, with stunning lake ...	3 beds \| 1 baths \| 900 sq.ft.	$199,000	Airbnb cash on cash: 5.83% Traditional cash on cash: 5.57% Airbnb Rental Income: $2230 Traditional Rental Income: $1619 Airbnb ROI: 5.83% Traditional ROI: 5.57%
5490 S Harrison Road Houghton Lake, MI Here is an awesome property that has it all. Just minutes from Houghton Lake, the possibil...	2 beds \| 2 baths \| 2,000 sq.ft.	$349,000	Airbnb cash on cash: 0.92% Traditional cash on cash: 5.08% Airbnb Rental Income: $1375 Traditional Rental Income: $2321 Airbnb ROI: 0.92% Traditional ROI: 5.08%
142 Questview Drive Houghton Lake, MI Rare New Construction located in Houghton Lake, MI on Quest Golf Course! Large Lot with La...	4 beds \| 3 baths \| 2,834 sq.ft.	$639,900	Airbnb cash on cash: 2% Traditional cash on cash: 2.62% Airbnb Rental Income: $3600 Traditional Rental Income: $3183 Airbnb ROI: 2% Traditional ROI: 2.62%
305 HUDSON AVENUE Houghton Lake, MI Houghton Lake Lovely 3 Bedroom 2 Bath home with 2 car garage and covered walkway between H...	3 beds \| 2 baths \| 1,152 sq.ft.	$139,900	Airbnb cash on cash: 8.76% Traditional cash on cash: 10.91% Airbnb Rental Income: $2230 Traditional Rental Income: $1958 Airbnb ROI: 8.76% Traditional ROI: 10.91%
113 Lakeview Houghton Lake, MI Charming cottage with public access, end of the road, to Houghton Lake! Open floor plan, ...	3 beds \| 1 baths \| 960 sq.ft.	$159,900	Airbnb cash on cash: 8.32% Traditional cash on cash: 8.85% Airbnb Rental Income: $2230 Traditional Rental Income: $1749 Airbnb ROI: 8.32% Traditional ROI: 8.85%
206 Joliet Houghton Lake, MI New build 3 bedroom 2 full bath home with attached finished garage on double lot with a b...	3 beds \| 2 baths \| 2,732 sq.ft.	$575,000	Airbnb cash on cash: 0.41% Traditional cash on cash: 2.33% Airbnb Rental Income: $2230 Traditional Rental Income: $2704 Airbnb ROI: 0.41% Traditional ROI: 2.33%
119 Desoto Houghton Lake, MI Newly remolded this year 3 bedrooms 2 baths with basement Bonus home is a new build 3 bedr...	3 beds \| 2 baths \| 1,400 sq.ft.	$575,000	Airbnb cash on cash: 0.41% Traditional cash on cash: 1.31% Airbnb Rental Income: $2230 Traditional Rental Income: $2154 Airbnb ROI: 0.41% Traditional ROI: 1.31%
103 Grand Rapids Road Road Houghton Lake, MI The perfect opportunity for lake living! This property sits on calmer west side of Houghto...	2 beds \| 1 baths \| 960 sq.ft.	$135,000	Airbnb cash on cash: 4.43% Traditional cash on cash: 8.53% Airbnb Rental Income: $1375 Traditional Rental Income: $1489 Airbnb ROI: 4.43% Traditional ROI: 8.53%
6922 E Houghton Lake Drive Drive Houghton Lake, MI This charming 2 bedroom, 1 bath home will allow you to enjoy the views from your front dec...	2 beds \| 1 baths \| 900 sq.ft.	$179,900	Airbnb cash on cash: 3.27% Traditional cash on cash: 6.92% Airbnb Rental Income: $1375 Traditional Rental Income: $1582 Airbnb ROI: 3.27% Traditional ROI: 6.92%
8900 Old Mead Rd Road Houghton Lake, MI This beautifully updated home for comfort & style is situated on a corner lot just 50 yard...	3 beds \| 2 baths \| 1,920 sq.ft.	$249,000	Airbnb cash on cash: 5.31% Traditional cash on cash: 9.56% Airbnb Rental Income: $2230 Traditional Rental Income: $2669 Airbnb ROI: 5.31% Traditional ROI: 9.56%
7697 E Houghton Lake Drive #4 Houghton Lake, MI Discover the perfect getaway with this move-in-ready, shared lakefront home on the North s...	2 beds \| 1 baths \| 700 sq.ft.	$199,000	Airbnb cash on cash: 3.49% Traditional cash on cash: 6.08% Airbnb Rental Income: $1375 Traditional Rental Income: $1447 Airbnb ROI: 3.49% Traditional ROI: 6.08%

Real Estate investment in Houghton-lake, MI

There are 46 properties for sale in the city of Houghton Lake . The median list price in Houghton Lake is $199,000 and the average price per square foot is $139. In January 2025, the average monthly cash on cash return in Houghton Lake is 9.00%. The average monthly rental income in Houghton Lake is $2,154.

Houghton-lake, MI Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 46 investment properties available for sale in Houghton-lake.

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

The ROI for Long-Term is higher than the Short-Term in Houghton-lake with average rental income of $2,154.

Your search for investment property begins and ends here

Investment Property for Sale in Houghton Lake, MI

129 Rapson

Houghton Lake, MI

3 beds | 1 baths | 1,430 sq.ft.

$179,900

Airbnb cash on cash: 6.69%

Traditional cash on cash: 8.47%

Airbnb Rental Income: $2230

Traditional Rental Income: $1973

Airbnb ROI: 6.69%

Traditional ROI: 8.47%

4675 Bradford Drive

Houghton Lake, MI

3 beds | 2 baths | 1,500 sq.ft.

$369,900

Airbnb cash on cash: 2.02%

Traditional cash on cash: 4.35%

Airbnb Rental Income: $2230

Traditional Rental Income: $2479

Airbnb ROI: 2.02%

Traditional ROI: 4.35%

103 Alma

Houghton Lake, MI

3 beds | 2 baths | 1,512 sq.ft.

$185,000

Airbnb cash on cash: 6.45%

Traditional cash on cash: 9.48%

Airbnb Rental Income: $2230

Traditional Rental Income: $2203

Airbnb ROI: 6.45%

Traditional ROI: 9.48%

209 Boatman Road

Houghton Lake, MI

4 beds | 3 baths | 2,528 sq.ft.

$299,900

Airbnb cash on cash: 7.11%

Traditional cash on cash: 8.22%

Airbnb Rental Income: $3600

Traditional Rental Income: $3127

Airbnb ROI: 7.11%

Traditional ROI: 8.22%

2230 Long Point Drive

Houghton Lake, MI

3 beds | 2 baths | 1,550 sq.ft.

$435,000

Airbnb cash on cash: 1.34%

Traditional cash on cash: 3.19%

Airbnb Rental Income: $2230

Traditional Rental Income: $2423

Airbnb ROI: 1.34%

Traditional ROI: 3.19%

7958 Stone School Road

Houghton Lake, MI

3 beds | 2 baths | 1,248 sq.ft.

$158,000

Airbnb cash on cash: 7.93%

Traditional cash on cash: 11.81%

Airbnb Rental Income: $2230

Traditional Rental Income: $2254

Airbnb ROI: 7.93%

Traditional ROI: 11.81%

6891 E Houghton Lake Drive #8

Houghton Lake, MI

2 beds | 1 baths | 560 sq.ft.

$134,900

Airbnb cash on cash: 4.08%

Traditional cash on cash: 7.53%

Airbnb Rental Income: $1375

Traditional Rental Income: $1405

Airbnb ROI: 4.08%

Traditional ROI: 7.53%

100 Chippendale Drive

Houghton Lake, MI

4 beds | 2 baths | 1,950 sq.ft.

$199,900

Airbnb cash on cash: 7.7%

Traditional cash on cash: 10.37%

Airbnb Rental Income: $2665

Traditional Rental Income: $2539

Airbnb ROI: 7.7%