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    Cheboygan, MI
    Residential Income

    Cheboygan, MI Residential Income Properties for Sale

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    Indian River, MI Onaway, MI Ocqueoc, MI Topinabee, MI Afton, MI Pointe Aux Pins, MI Brutus, MI Levering, MI
    Renovated Triplex with Vacant Unit
    Updated: Aug 13
    Renovated Triplex with Vacant Unit

    321 Dresser Street, Cheboygan, MI 49721

    $209,900
    Three‑unit property with two 1‑bedroom/1‑bath apartments and one 2‑bedroom/1‑bath apartment
    Apartment 2 extensively renovated in 2025 with new flooring, kitchen, bathroom, windows, paint, fixtures, and laundry hookup
    Two apartments occupied; one vacant and move‑in ready
    Newer roof plus new front and side porches
    Three off‑street parking spaces
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    6-Unit Brick Apartment Building
    Updated: Aug 14
    6-Unit Brick Apartment Building

    123 N BAILEY STREET, Cheboygan, MI 49721

    $359,000
    Approximately 7,500 square feet in a brick apartment building
    Six potential rental units
    Includes a garage and additional office space
    Walking distance to downtown Cheboygan, shops, restaurants, services, and the waterfront
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    Six-Unit Apartment Building
    Six-Unit Apartment Building

    123 North Bailey Street, Cheboygan, MI 49721

    $359,000
    16,718 sqft

    Commercially zoned property with rear paved parking, an attached garage, and storage space.

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    Realmo Analytics Monitor Off-market properties and contact owners who are ready to sell. Many signals applied to make quality leads for you. Get Leads
    Based on your search, we've compiled 12 Potential Opportunities for your consideration. Besides 3 Active listings in Cheboygan, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 1 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Remodeled Furnished Short-Term Rental
    Remodeled Furnished Short-Term Rental

    4-4179 S Straits Hwy, Indian River, MI 49749

    $215,000
    399 sqft

    Fully furnished and equipped riverfront lodging property with access to Northern Michigan’s Inland Waterway system.

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    Remodeled Furnished Short-Term Rental Cabin
    Remodeled Furnished Short-Term Rental Cabin

    3-4179 S Straits Hwy, Indian River, MI 49749

    $199,900
    360 sqft

    Cabin association property along the Sturgeon River with furnishings and equipment included.

    View details
    13-Unit Apartment Building
    13-Unit Apartment Building

    5692 N US 31 Highway, Levering, MI 49755

    $497,000
    4,769 sqft

    Fully rented efficiency-apartment property with on-site laundry, paved parking, and an attached house/office.

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    7-Unit Apartment Building
    7-Unit Apartment Building

    2870 N US 31 Highway, Levering, MI 49755

    $269,000
    2,800 sqft

    Fully rented efficiency apartments with on-site coin laundry and commercial zoning.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Residential Infill Development Lot
    Residential Infill Development Lot

    V/L Par A Stempky Street, Cheboygan, MI 49721

    $50,000
    0.44 AC lot

    R-M zoned Cheboygan lot with municipal water, sewer, and natural gas for duplex or small townhome development.

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    Multifamily-Zoned Development Land
    Multifamily-Zoned Development Land

    V/L 1.70AC Townline Rd & Stempky St, Cheboygan, MI 49721

    $150,000

    Two parcels totaling 1.70 acres zoned R-M with municipal utilities available for low-rise multifamily housing.

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    R-M Zoned Residential Development Land
    R-M Zoned Residential Development Land

    V/L 1.26AC Townline Road, Cheboygan, MI 49721

    $100,000
    1.26 AC lot

    Zoned R-M for townhome or low-rise apartment development with municipal water, sewer, and natural gas available.

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    Private Waterfront Land Parcel
    Private Waterfront Land Parcel

    Mograin Rd lot: 3, Cheboygan, MI 49721

    $185,000
    2.30 AC lot

    Waterfront land on the Black River with build-ready terrain well suited for a walkout basement design.

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    Off-Market Properties in Cheboygan, MI

    Consider similar Off-Market properties in Cheboygan, MI. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    9408 Straits Hwy
    Land

    9408 Straits Hwy, Cheboygan, MI 49721

    Estimated value: by Request
    8.00 AC lot
    View details

    Cheboygan, MI Residential Income Properties Market Trends and Statistics

    Explore 4 residential income properties for sale in Cheboygan, MI, showcased through 3 active listings on our real estate platform. These investment opportunities span a total of 16,718 square feet of properties for sale, with an estimated market value of $927,900.

    Sale prices for residential investment properties in Cheboygan, MI start at $209,900, averaging $309,300, and reaching up to $359,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Multifamily properties 3
    Apartment buildings 2
    Triplexes 1

    Demographics Overview

    Population 14K
    Population Growth (5Y) -2.2%
    Median Household Income $60,840
    College Educated 29.7%

    High-Yield Neighborhoods for Investment

    Identify Cheboygan submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    49721 $336K

    Taxes & Financing

    Tax Rate (average for all types) 3.46%
    Tax Rate vs County Average 0.26 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Cheboygan County

    New Delisted

    Total CRE Inventory on Market (SF)

    How Realmo verifies these figures

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    Popular Searches in Cheboygan, MI

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    Most Searched ZIP Codes in Cheboygan, MI

    • 49721

    Featured Cheboygan Real Estate Agencies

    Realmo connects you with licensed Cheboygan CRE brokers providing property specifications, local market pricing, and commercial transaction underwriting support.

    Exit Realty Premier
    1160 E State St Suite B Cheboygan, MI
    Phone: (231) 597-8000
    Coldwell Banker Schmidt Realtors of Cheboygan
    10667 N. Straits Highway, P.O. Box 217 Cheboygan, MI 49721
    Phone: (231) 627-9959
    Pure Michigan Property
    10621 Twin Lake Road Cheboygan, MI
    Phone: (906) 420-3400
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