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    Split-Level Residential Income Property Title is generated by Realmo AI

    22454 Pleasant Avenue, Eastpointe, MI 48021

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    For Sale
    $180,000

    MULTI_FAMILY - Split Level - Eastpointe, MI

    Property size:
    2,082 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $86/SF
    Added:
    May 7, 2026
    Days on Market:
    29
    Last Refresh:
    Jun 4 at 12:06 am

    Property Features for 22454 Pleasant Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 4, Basement, Bedroom 2
    Fireplace
    1
    Appliances
    Dishwasher
    Standard status
    Active
    APN
    02-14-31-206-012
    Size
    2,082 SF
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4571

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1926
    Floors in Building
    2
    Number of units
    2
    Architectural style
    Split Level

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    Listing Contact
    Valarie Sena

    Listing agent Valarie Sena License #6501429345

    Listing office Realteam Real Estate 45410 Van Dyke Ave., Shelby Township, MI

    Listing date May 7, 2026

    MLS# 50206718 Listing URL

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5‑bedroom, 2‑bath colonial with a versatile layout, including 2 bedrooms on the main level and 3 upstairs
    • Major updates: new roof (2024), hot water tank (2023), and nearly all windows replaced in 2025
    • Forced air heating and dishwasher included
    • Fireplace included
    • Public water source and basement included
    • Sold as‑is

    Overview

    This split-level residential income property is a spacious 5-bedroom, 2-bath colonial with a versatile layout. Two bedrooms are on the main level, while three additional bedrooms are located upstairs, creating a practical foundation for an upper and lower unit setup if desired. The home includes recent major updates designed to reduce near-term maintenance, including a new roof in 2024, a hot water tank from 2023, and nearly all windows replaced in 2025. With a generous floor plan throughout, the interior offers room to reimagine and customize to fit a new owner’s goals.

    Located at 22454 Pleasant Avenue in Eastpointe, Michigan (48021), the property sits on a nice lot and provides convenient access to local shopping, dining, and major roadways.

    Ideal for buyers seeking a property with flexibility, the arrangement supports a range of living or rental configurations based on the main-level and upstairs bedroom distribution. The home is being sold as-is, giving investors and owner-occupants the ability to plan updates and finishes to match their intended use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Eastpointe
    County
    Macomb
    State
    Michigan
    Longitude
    -82.952085
    Latitude
    42.463021

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    FAQs

    What type of property is this?
    Duplex - Split-level layout with 5 bedrooms and 2 baths, offering flexibility to configure separate living spaces.
    Where is this duplex located?
    The property is located at 22454 Pleasant Avenue Eastpointe, MI.
    What is the asking price?
    The asking price for this property is $180,000.
    What are key features of this property?
    This property features: 5‑bedroom, 2‑bath colonial with a versatile layout, including 2 bedrooms on the main level and 3 upstairs; Major updates: new roof (2024), hot water tank (2023), and nearly all windows replaced in 2025; Forced air heating and dishwasher included
    (586) 930-2594
    We can help!
    Listing Contact
    Valarie Sena
    Real Estate License ID: 6501429345
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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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