Duplex with New
For Sale
$285,000
420 Fisher St, Berrien Springs, MI 49103
Fully occupied duplex with water heaters installed in 2023 and a roof replacement completed in 2022.
Property Size1,771 SF
Price / SF$160.93
Days on Market147
Property Features for 420 Fisher St
General Information
Standard status
Active
Size
1,771 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1979
Buildings
1
Tenancy
Multi
Listing Agency:
McLauchlin Realty, Inc.
Listed By:
Scott McLauchlin
(269) 363-9743
Source:
Metrodetroithomeguide
Added: May 21
Changed: Oct 1
Last Checked: Oct 12 at 8:28PM
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 McLauchlin Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex, constructed in 1979, contains two-bedroom, one-bath residential accommodations and is currently fully occupied. The property has received notable recent improvements, including replacement of the roof in 2022 and installation of new water heaters in 2023.
Located at 420 Fisher Street in Berrien Springs, Michigan, the property offers an established residential income configuration with existing occupancy in place. Its two-unit layout and recent major-system updates provide a straightforward multifamily holding for continued rental use.
Located at 420 Fisher Street in Berrien Springs, Michigan, the property offers an established residential income configuration with existing occupancy in place. Its two-unit layout and recent major-system updates provide a straightforward multifamily holding for continued rental use.
Key Highlights
- Two‑bedroom, one‑bath duplex in Berrien Springs
- Fully occupied with existing tenants
- New roof installed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,198
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,960
$324.0K
Cap Rate 7%
$231,400
$231.4K
Cap Rate 9%
$179,978
$180.0K
Market Conditions
NOI Build-Up for 1,771 SF
Gross rent
$24.4K $13.80/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$23.1K $13.07/SF
− OpEx
−$6.9K −$3.92/SF
NOI
$16.2K $9.15/SF
Area
Berrien County, MI
Vacancy
5.32%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,960
Cap Rate 7%
$231,400
Cap Rate 9%
$179,978
Alternative Uses
Best Use
Multifamily LT 5
$231.4K
$202.5K – $270.0K
NOI $16,198 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$206.5K
$180.7K – $240.9K
NOI $14,455 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$372.7K
$326.1K – $434.8K
NOI $26,087 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 49103, MI
11,508
Population
4,833
Households
2.4
Avg Household Size
39
Median Age
52%
College-Educated
94%
High-School Grad
44.8 sq mi
ZIP Area
257
Density / Sq Mi
$61,888
Median Household Income
$32,524
Median Earnings
$878
Median Rent
$224,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with water heaters installed in 2023 and a roof replacement completed in 2022.
Where is this duplex located?
The property is located at 420 Fisher St Berrien Springs, MI.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath duplex in Berrien Springs; Fully occupied with existing tenants; New roof installed in 2022
