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    15646 M 60 Vandalia, MI 49095

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    For Sale
    $249,000

    3 bed, 2 bath home near Elkhart with many extras.

    Property size:
    1,431 SF
    Lot size:
    1.01 Acres

    Property Features for 15646 M 60

    General Information

    Size
    1,431 SF
    Lot size
    1.01 Acres

    Building Details

    Year built
    1999

    We can help!

    Listing Contact
    Ernest Parrish
    Source: Kw

    Listing Agent: Ernest Parrish

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Vandalia Home with Many Extras

    This property offers country living with numerous features. The 3-bed, 2-bath home includes an open-concept kitchen, dining, and living area, complete with a wood-burning fireplace. The kitchen features a spacious island with ample countertop space, and all appliances are included. A three-season room provides a second living space with a wall of windows and updated flooring. The primary bedroom has an ensuite bathroom with a walk-in shower and clawfoot bathtub. The split bedroom floorplan includes two additional spacious bedrooms and a separate bath. The partially finished basement offers two accesses and ample storage. Additional amenities include new landscaping, a metal roof, a newer HVAC system, and a newer water softener. The property features a convenient entrance from the highway, a two-car detached garage, main floor laundry, and a back patio area. Located conveniently near the Elkhart area and close to Swiss Valley Skiing, this home offers 1431 square feet of living space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Hair Salon Building Supply Wholesale Shop Discount Store Bakery Garden Center Storage Facility Car Rental Home Appliance Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Vandalia
    County
    Cass
    State
    Michigan
    Longitude
    -85.8861
    Latitude
    41.9118

    Nearby Similar for Sale

    • $249,000
      1,431 SF

      Country Home with Many Extras

      Three-bedroom home featuring an open layout, updated amenities, and convenient location.
      15646 M 60, Vandalia, MI 49095
      View Details
    • $295,000
      6,587 SF

      Established Vandalia Restaurant & Bar

      Turnkey Restaurant, 6,587 SF, $295,000
      18089 State St, Vandalia, MI 49095
      View Details

    FAQs

    What type of property is this?
    Single family property - 3 bed, 2 bath home near Elkhart with many extras.
    Where is this single family property located?
    The property is located at 15646 M 60 Vandalia, MI.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: - Open concept Kitchen/Dining/Living area with wood burning fireplace.; - Primary bedroom with ensuite including walk-in shower and clawfoot bathtub.; - Enjoy the 3-season room with updated flooring.
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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
    15646 M 60 Vandalia, MI 49095
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    Listing Contact
    Ernest Parrish
    Learn more
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