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    Onaway, MI
    Residential Income

    Onaway, MI Residential Income Properties for Sale

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    Triplex Riverfront Homes
    Updated: Mar 12
    Triplex Riverfront Homes

    7039 River Bend Drive, Onaway, MI 49765

    $274,000
    2,484 sqft
    Three rental units in a bungalow triplex configuration
    On 90 feet of Black River/Tower Pond waterfront
    Unit 1: two bedrooms, 864 SF; new water heater installed June 2025
    Unit 2: two bedrooms, 900 SF
    Unit 3: one bedroom, 700 SF
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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 9 Potential Opportunities for your consideration. Besides 1 Active listings in Onaway, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, 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.

    Mixed-Use Building with Apartment
    Mixed-Use Building with Apartment

    209 W State Street, Cheboygan, MI 49721

    $110,000
    2,657 sqft 0.04 AC lot

    Ground-floor commercial space is paired with an upstairs two-bedroom apartment.

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    Furnished Triplex with Storage Outbuildings
    Furnished Triplex with Storage Outbuildings

    351 W Main St, Vanderbilt, MI 49795

    $185,900

    Three-unit triplex with recent exterior and interior upgrades, plus new septic and onsite storage suited for mid-term furnished rentals.

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    Downtown Office Building with Apartment
    Downtown Office Building with Apartment

    218 N. Main Street, Cheboygan, MI 49721

    Contact for pricing

    Office building includes a common hallway, multiple offices, paved parking, and a two-bedroom living unit for additional income.

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    Convenience Store and Gas Station
    Convenience Store and Gas Station

    10982 N Old 27 Hwy, Vanderbilt, MI 49795

    Contact for pricing

    Convenience store and gas station business setup includes living quarters, rental cabins, and an ice cream shop.

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    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.

    Buildable City-Served Residential Lots
    Buildable City-Served Residential Lots

    3550 N Maple Street, Onaway, MI 49765

    Contact for pricing
    0.31 AC lot

    Three buildable city lots with water, sewer, and utilities available in a residential-zoned area.

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    Lakefront Recreation Land
    Lakefront Recreation Land

    E Shore Circle, Millersburg, MI 49759

    $38,000
    0.27 AC lot

    Parcels on Rainy Lake near Larson Memorial Park with a boat launch and beach amenities.

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    Land Near Recreation and I-75
    Land Near Recreation and I-75

    15390 Wurm Road Drive, Wolverine, MI 49799

    Contact for pricing
    0.46 AC lot

    Residential land near recreation, I-75, and trails in Wolverine, MI.

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    Land Near Wolverine Lake
    Land Near Wolverine Lake

    15217 Lakeview Drive, Wolverine Lake, MI 49799

    Contact for pricing
    0.45 AC lot

    Vacant land parcel near Wolverine Lake, Michigan.

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    Onaway, MI Residential Income Properties Market Trends and Statistics

    Explore 1 residential income properties for sale in Onaway, MI on our real estate platform. These investment opportunities span a total of 2,484 square feet of properties for sale, with an estimated market value of $274,000.

    Sale prices for residential income properties in Onaway, MI average $274,000 — 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 1
    Triplexes 1

    Demographics Overview

    Population 4,287
    Population Growth (5Y) +15.9%
    Median Household Income $53,125
    College Educated 19.0%

    High-Yield Neighborhoods for Investment

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

    Neighborhood Average Price
    49765 $274K

    Taxes & Financing

    Tax Rate (average for all types) 3.24%
    Tax Rate vs County Average 1.42 pp below county avg
    Average Loan-to-Value 65.0%

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