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    Updated Two-Unit Duplex with Bay Windows Title is generated by Realmo AI

    422 N Main Street, Watervliet, MI 49098

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    Claim this Listing
    New
    For Sale
    $199,900

    MULTI_FAMILY - Watervliet, MI

    Lot size:
    0.30 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 4 at 11:06 am

    Property Features for 422 N Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Rooms
    Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4, Basement, Bathroom 1
    Parking
    8
    Basement
    Full
    Standard status
    Active
    APN
    11-78-0340-0027-00-1
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    THE S1/2 OF LOT 26 & N 13.89' OF LOT 27 REVISED PLAT OF CITY OF WATERVLIET EXC R/W FOR ALLEY
    Tax Annual Amount
    4538

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Baseboard
    Cooling system
    Central Air

    Building Details

    Year built
    1947
    Number of units
    2
    Building materials
    Vinyl Siding, Wood Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Kerry M Wright
    Kerry M Wright

    Listing agent Kerry M Wright License #6506043362

    Listing office Wright Properties 260 Cavelier Ave, Benton Harbor, MI

    Listing date Jun 2, 2026

    MLS# 26026362 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

    • 2‑unit home with front unit (3 bed/1 bath) and back unit (2 bed/1.5 bath)
    • New roof, new flooring, and new paint reported
    • Front unit features bay windows, intricate woodwork, and a 15x23 living room
    • Back unit includes a spacious 13x25 living room and a wood‑burning fireplace
    • Central air plus washer and dryer included for the front unit; back unit appliances include washer and dryer
    • Basement with storage space and public sewer; exterior includes vinyl and wood siding

    Overview

    This updated two-unit duplex is set up to produce rental income while still working as a home for an owner-occupant. The front unit is a 3-bedroom, 1-bath layout with bay windows and detailed woodwork, plus a large living room and additional bedrooms on the upper level. It includes air conditioning, a washer and dryer, and a basement for extra storage. The back unit offers 2 bedrooms and 1.5 baths, featuring a spacious living room with a wood-burning fireplace. Upstairs, the unit includes a bedroom with a large closet and an en-suite master bath. Both units benefit from recent improvements, including a new roof, new flooring, and new paint.

    Located at 422 N Main Street in Watervliet, the property offers a practical setup for tenants who want both independence and convenience. Parking is described as plentiful, which can reduce day-to-day friction for residents and visitors.

    The configuration makes this duplex well-suited for investors seeking straightforward two-tenant cash flow, or buyers looking to live in one unit while renting the other. With in-unit laundry, multiple bedroom layouts, and basement storage, it should appeal to tenants who want functional space and day-to-day comforts.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Watervliet
    County
    Berrien
    State
    Michigan
    Longitude
    -86.258969
    Latitude
    42.190435

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    FAQs

    What type of property is this?
    Duplex - Spacious 2-unit duplex with new roof, flooring, and paint, offering rental-income upside with generous living space.
    Where is this duplex located?
    The property is located at 422 N Main Street Watervliet, MI.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: 2‑unit home with front unit (3 bed/1 bath) and back unit (2 bed/1.5 bath); New roof, new flooring, and new paint reported; Front unit features bay windows, intricate woodwork, and a 15x23 living room
    (269) 369-4640
    We can help!
    Listing Contact
    Kerry M Wright
    Kerry M Wright
    Real Estate License ID: 6506043362
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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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