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    Olivet Fourplex on One Acre Title is generated by Realmo AI

    18864 W Baseline Road, Olivet, MI 49076

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    Claim this Listing
    New
    For Sale
    $319,900

    MULTI_FAMILY - Olivet, MI

    Lot size:
    1.00 Acre
    Added:
    May 23, 2026
    Days on Market:
    1
    Last Refresh:
    May 23 at 6:06 pm

    Property Features for 18864 W Baseline Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    7
    Rooms
    Bedroom 7, Laundry Room, Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 6, Bathroom 4
    Parking
    8
    Parking features
    Driveway
    Basement
    Walk-Out Access
    Standard status
    Active
    APN
    13-13-060-012-20
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    PART OF SEC LEE TWP CALHOUN COUNTY
    Tax Annual Amount
    2599

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Septic Tank
    Heating system
    Baseboard
    Water source
    Well

    Building Details

    Year built
    1991
    Number of units
    4
    Building materials
    Vinyl Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Scott Micklewright

    Listing agent Scott Micklewright

    Listing office Pearse Realty, Inc. 131 E Columbia Ave. #204, Battle Creek, MI

    Listing date May 23, 2026

    MLS# 26024534 Listing URL

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Strong income‑producing fourplex with a desirable unit mix (three 2‑bedroom/1‑bath and one 1‑bedroom/1‑bath).
    • Situated on a large 1‑acre lot, offering potential value‑add opportunities.
    • Long‑term, multi‑year tenants in three of the 2‑bedroom units, ensuring consistent cash flow.
    • Brand‑new metal roof and water softener installed this year, indicating well‑maintained property.
    • Convenient shared laundry room and ample on‑site parking for tenants.
    • Located near The University of Olivet and FireKeepers Casino Hotel, providing stable rental demand.

    Overview

    This well-maintained fourplex in Olivet offers an income-producing opportunity. Situated on a 1-acre parcel, the property includes three 2-bedroom/1-bath units and one 1-bedroom/1-bath unit. Three of the 2-bedroom units are occupied by long-term tenants. The property has been carefully maintained, with a new metal roof and water softener installed this year. Each unit includes a refrigerator and range, and tenants benefit from a shared laundry room. Ample on-site parking is available. Located near The University of Olivet and with easy access to FireKeepers Casino Hotel, the property benefits from stable local employment drivers and consistent rental demand. The 1-acre lot provides a value-add opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Olivet
    County
    Eaton
    State
    Michigan
    Longitude
    -84.917052
    Latitude
    42.421518

    FAQs

    What type of property is this?
    Quadplex - Well-maintained fourplex near Olivet University with income potential.
    Where is this quadplex located?
    The property is located at 18864 W Baseline Road Olivet, MI.
    What is the asking price?
    The asking price for this property is $319,900.
    What are key features of this property?
    This property features: Strong income‑producing fourplex with a desirable unit mix (three 2‑bedroom/1‑bath and one 1‑bedroom/1‑bath).; Situated on a large 1‑acre lot, offering potential value‑add opportunities.; Long‑term, multi‑year tenants in three of the 2‑bedroom units, ensuring consistent cash flow.
    (269) 358-0552
    We can help!
    Listing Contact
    Scott Micklewright
    Request Owner's contact information
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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
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