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    Stabilized Multifamily Community in Fenton Title is generated by Realmo AI

    13366 North Rd, Fenton, MI 48430

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    Claim this Listing
    For Sale
    $1,551,000

    MULTI_FAMILY - Other - Fenton Twp, MI

    Property size:
    5,184 SF
    Lot size:
    1.70 Acres
    Price / SF:
    $299/SF
    Added:
    May 12, 2026
    Days on Market:
    25
    Last Refresh:
    Jun 5 at 9:06 pm

    Property Features for 13366 North Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi-Family
    Bedrooms
    21
    Bathrooms
    12
    Rooms
    Bedroom 21, Bedroom 12, Bedroom 14, Bathroom 10, Bedroom 20, Bedroom 18, Bathroom 7, Bedroom 7, Bedroom 11, Bedroom 15, Bedroom 8, Bedroom 3, Bathroom 12, Bathroom 9, Bathroom 1, Bathroom 11, Bedroom 4, Bedroom 19, Bedroom 6, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 17, Bedroom 10, Bathroom 3, Bathroom 5, Bathroom 4, Bathroom 2, Bathroom 6, Bedroom 9, Bedroom 13, Bedroom 16, Bathroom 8
    Pets allowed
    Breed Restrictions
    Interior features
    Laundry Facility
    Standard status
    Active
    APN
    0615400026
    Size
    5,184 SF
    Lot size
    1.70 Acres

    Taxes and HOA fees

    Tax Description
    A PARCEL OF LAND BEG AT THE INTERSECTION OF THE CENTERLINE OF ROLSTON RD AND W ROW LINE OF NORTH RD TH S 88 DEG 57 MIN 03 SEC W 188.75 TH S 1 DEG 34 MIN 57 SEC E 250 FT TH S 88 DEG 57 MIN 03 SEC W 80 FT TH S 1 DEG 34 MIN 57 SEC E 50 FT TH N 88 DEG 57 MIN 03 SEC E 359.9 FT TH NLY 313.72 TO POB SE 1/4 SEC 15 T5N R6E (--/19/24)
    Tax Annual Amount
    17750

    Utilities

    Heating system
    Baseboard
    Cooling system
    Wall Unit(s)
    Water source
    Well

    Building Details

    Year built
    1972
    Floors in Building
    2
    Number of units
    12
    Building materials
    Aluminum, Brick
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Natalie Marginet

    Listing agent Natalie Marginet

    Listing office Keller Williams Advantage 39500 Orchard Hill Place Ste 100, Novi, MI

    Listing date May 12, 2026

    MLS# 20261034106 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 100% Occupancy: Provides immediate cash flow.
    • Value‑Add Potential: Opportunity for NOI growth.
    • Recently Upgraded Units: 10 of 12 units feature granite countertops, stainless‑steel appliances, and modern finishes.
    • Desirable Location: Situated on 1.7 acres in Fenton Township, Genesee County.
    • Strong Accessibility: Proximity to major employment hubs via U.S. Highway 23.
    • Attractive Unit Mix: Consists of three 1‑bedroom and nine 2‑bedroom units.

    Overview

    North Road Apartments is a stabilized 12-unit multifamily community located at 13366 North Road in Fenton Township, Michigan. The property consists of three well-maintained, two-story apartment buildings situated on 1.7 acres. The property features a mix of three one-bedroom units (750 SF each) and nine two-bedroom units (825 SF each). Ten of the twelve units have been recently upgraded with granite countertops, stainless-steel appliances, and modern finishes. Currently operating at 100% occupancy, North End Apartments offers immediate cash flow and upside through continued rent growth and ongoing expense optimization. Recent performance shows strong rent increases and reduced vendor costs, positioning the property for meaningful NOI growth over the next three years. With proximity to major employment hubs in Flint, Brighton, and Ann Arbor via U.S. Highway 23, the asset benefits from accessibility, a strong tenant base, and consistent leasing demand. This property is suitable for investors seeking a stable, income-producing property with value-add potential in Genesee County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Building Supply Spa & Massage Center Auto Repair Shop Gym & Fitness Center Department Store Skin Care Clinic Kitchen & Bath Showroom Garden Center Discount Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fenton
    County
    Genesee
    State
    Michigan
    Longitude
    -83.733124
    Latitude
    42.831291

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    FAQs

    What type of property is this?
    Apartment building - 12-unit apartment community with immediate cash flow and growth potential.
    Where is this apartment building located?
    The property is located at 13366 North Rd Fenton, MI.
    What is the asking price?
    The asking price for this property is $1,551,000.
    What are key features of this property?
    This property features: 100% Occupancy: Provides immediate cash flow.; Value‑Add Potential: Opportunity for NOI growth.; Recently Upgraded Units: **10 of 12 units feature granite countertops, stainless‑steel appliances, and modern finishes.**
    (248) 380-8800
    We can help!
    Listing Contact
    Natalie Marginet
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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