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    Ranch Duplex with In-Law Suite Title is generated by Realmo AI

    385 Hollywood Dr, Saline, MI 48176

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    For Sale
    $425,000

    Ranch duplex with a fully separate, handicap-accessible 1-bedroom suite and private entrances.

    Type:Investment
    Added:
    Jun 1, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 6 at 4:06 am

    Property Features for 385 Hollywood Dr

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1961

    We can help!

    Listing Contact
    Darlene McLane Dresch
    Darlene McLane Dresch

    Listing agent Darlene McLane Dresch License #6501397105

    Listing office Ann Arbor Market Center, Inc.

    Listing date Jun 1, 2026

    Source Elliman

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

    All listing content including descriptions, pricing, images are the copyrighted material of Ann Arbor Market Center, Inc.

    HighLights

    • 1961‑built ranch duplex with two private living areas: main 3‑bed/2‑bath home plus separate 1‑bed/1‑bath in‑law apartment
    • Fully separate in‑law suite includes its own entrance, full kitchen, living room, laundry, and fireplace
    • Handicap accessible bathroom in the 1‑bedroom, 1‑bath apartment
    • Both living spaces have private entrances for independent use
    • Attached 2‑car garage plus additional shed storage
    • Large corner lot in the City of Saline

    Overview

    This property is a ranch-style duplex configuration featuring a main 3-bedroom, 2-bath home along with a fully separate 1-bedroom, 1-bath in-law apartment. The private apartment includes its own entrance, full kitchen, living room, laundry, and a fireplace. The in-law bathroom is described as fully handicap accessible, and both the main home and the apartment offer private entrances for independent living. An attached 2-car garage and additional shed storage are included, and the home sits on a large corner lot.

    The address is 385 Hollywood Dr in Saline, Michigan. The property is positioned on a corner lot, and the provided remarks indicate a car-dependent setting based on the reported walk score and bike score.

    For buyers seeking flexible living arrangements or rental-capable use, the layout supports separation between households while keeping both units on one property. The handicap-accessible bathroom in the smaller unit may also be a practical fit for tenants or occupants who require that accessibility feature. The remarks also note the sellers have not rented out the smaller unit, which was previously used as a parent’s apartment while they lived there.
    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 Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Saline
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7877033
    Latitude
    42.1681452

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    FAQs

    What type of property is this?
    Duplex - Ranch duplex with a fully separate, handicap-accessible 1-bedroom suite and private entrances.
    Where is this duplex located?
    The property is located at 385 Hollywood Dr Saline, MI.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: 1961‑built ranch duplex with two private living areas: main 3‑bed/2‑bath home plus separate 1‑bed/1‑bath in‑law apartment; Fully separate in‑law suite includes its own entrance, full kitchen, living room, laundry, and fireplace; Handicap accessible bathroom in the 1‑bedroom, 1‑bath apartment
    (734) 260-3453
    We can help!
    Listing Contact
    Darlene McLane Dresch
    Darlene McLane Dresch
    Real Estate License ID: 6501397105
    Learn More
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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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