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    The Largest CRE Database in the US with Over 1 Million Listings

    4755 Forest Ave Waterford, MI 48328

    Sponsored
    For Sale
    $349,900

    Colonial,Contemporary,Farmhouse - Waterford, MI

    Type:Farm
    Property size:
    1,673 SF
    Lot size:
    0.35 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 13 at 9:06 am

    Property Features for 4755 Forest Ave

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    3
    APN
    1315378003
    Parking features
    Garage, Oversized
    Interior features
    Smoke Alarm, Cable Available, Carbon Monoxide Alarm(s), Circuit Breakers, High Spd Internet Avail, Programmable Thermostat, Water Softener (owned)
    Exterior features
    Fenced, All Sports Lake
    Fencing
    Fenced
    Fireplace
    1
    Basement Y/N
    1
    Appliances
    Dishwasher, Dryer, Garbage Disposer, Microwave, Range, Refrigerator, Washer
    Size
    1,673 SF
    Lot size
    0.35 Acres

    Utilities

    Utilities
    Cable Available, Water Available
    Heating system
    Fireplace(s), Forced Air, Natural Gas
    Cooling system
    Ceiling Fan(s), Central Air
    Water front features
    Beach Access, Lake Privileges, All Sports Lake, Watkins Lake

    Building Details

    Year built
    1920
    Year renovated
    2017
    Floors in Building
    2
    Roof type
    Asphalt
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Sheri Hull
    Sheri Hull

    3DX Real Estate LLC (888) 304-1447

    Listing agent Sheri Hull (888) 304-1447

    Listing date Feb 12, 2026

    MLS# 20261007059 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.

    Learn more

    Property Insight Report

    Overview

    Updated Colonial Near Watkins Lake

    This updated colonial-style home, originally built in the 1920s, features a blend of classic architecture and modern amenities. The residence offers an open floor plan, a new brick paver walkway leading to a 25x8 covered front porch, and original architectural details. The interior includes a living room with an original fireplace, an eat-in kitchen with granite counters, custom cabinets, and a movable island, a formal dining room, and a flex space suitable for a home office or playroom. The upstairs features a primary suite with an en-suite bath with double sinks and an 11x10 walk-in closet, plus two additional bedrooms sharing a Jack-and-Jill full bath. The basement includes a finished room suitable for a home gym or hobby space. Additional features include a covered side porch, a fenced backyard with a patio area, a shed with electricity, a bonfire pit, and an oversized 2.5-car garage with overhead storage. Major systems, including the roof, furnace, central air, tankless water heater, windows, and flooring, have been replaced within the last 7–10 years. The property is situated on a 0.35-acre lot and includes an optional $60/year HOA for access to the private Watkins Lake beach, picnic areas, and boat launch. The property is located close to parks, schools, restaurants, shopping, and offers easy freeway access in Waterford, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3811049
    Latitude
    42.6607831

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    FAQs

    What type of property is this?
    Specialty property - Turnkey 1920s colonial with modern updates and lake access.
    Where is this specialty property located?
    The property is located at 4755 Forest Ave Waterford, MI.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: - Extensively updated 'turnkey' home with major systems replaced within the last 7-10 years.; - Large, fully fenced backyard featuring a patio, shed with electricity, bonfire pit, and oversized 2.5-car garage with overhead storage.; - Access to private Watkins Lake beach, picnic areas and boat launch via optional $60/year HOA.
    (734) 740-1290
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    4755 Forest Ave Waterford, MI 48328
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    Waterford, MI 48328
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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.

    More about this property
    4755 Forest Ave Waterford, MI 48328
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    Listing Contact
    Sheri Hull
    Sheri Hull
    (734) 740-1290 (888) 304-1447
    Learn more
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