Two-Unit Residential Income
422 North Main Street Watervliet, MI 49098
422 North Main Street, Watervliet, MI, 49098
$199,900
For Sale
$199,900
Well-maintained duplex offers two separate units with in-unit laundry and ample parking.
Property Size1,100 SF
Price / SF$181.73
Days on Market51
Property Features for 422 North Main Street
General Information
- Standard status
- Active
- Size
- 1,100 SF
- Property subtype
- Residential Income / Multi Family
Building Details
- Year Built
- 1947
Listing agency
Wright Properties
(269) 369-4640
Listed by
Kerry M Wright · License #6506043362
(269) 369-4640
Source
Compass
Added: Jun 2 Updated: Jul 10 at 1:51PM Checked: Jul 21 at 8:29AM
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 Wright Properties
Investment Insights
Based on property information with market context.
This two-unit residential income property is designed as a true duplex with separate front and back units. The front unit offers 3 bedrooms and 1 bathroom, with bay windows and woodwork details throughout, plus a large living room and a master bedroom. It also includes air conditioning, a washer and dryer, and a basement that provides storage.
The back unit features 2 bedrooms and 1.5 bathrooms, with a spacious living room and a wood-burning fireplace. Upstairs, the bedroom includes a large closet and an en-suite master bath. The main level includes an additional bedroom, a half-bath, a dining room, and a kitchen with ample cabinetry, pantry storage, and all appliances, including a washer and dryer.
Recent improvements include a new roof, new flooring, and new paint. The property is presented as a straightforward option for owner-occupants and investors seeking a multi-unit setup with laundry in both units and plenty of parking.
The back unit features 2 bedrooms and 1.5 bathrooms, with a spacious living room and a wood-burning fireplace. Upstairs, the bedroom includes a large closet and an en-suite master bath. The main level includes an additional bedroom, a half-bath, a dining room, and a kitchen with ample cabinetry, pantry storage, and all appliances, including a washer and dryer.
Recent improvements include a new roof, new flooring, and new paint. The property is presented as a straightforward option for owner-occupants and investors seeking a multi-unit setup with laundry in both units and plenty of parking.
Key Highlights
- Duplex built in 1947 with a full basement and separate utilities (sep electric meter, sep gas meter, sep water meter).
- Front unit: 3 bed/1 bath with bay windows and intricate woodwork; large living room (15x23) and master bedroom (11x13).
- Back unit: 2 bed/1.5 bath with spacious living room (13x25) and a wood‑burning fireplace; upstairs bedroom (13x15) with large closet and en‑suite master bath.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.2k | $13.80 |
| − Vacancy | −$808 | −$0.73 |
| EGI | $14.4k | $13.07 |
| − OpEx | −$4.3k | −$3.92 |
| NOI | $10.1k | $9.15 |
1,100 SF · lease $13.80/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$143.7K
$125.8K – $167.7K
NOI $10,061 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$128.3K
$112.2K – $149.6K
NOI $8,978 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$231.5K
$202.5K – $270.1K
NOI $16,203 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained duplex offers two separate units with in-unit laundry and ample parking.
Where is this duplex located?
The property is located at 422 North 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: Duplex built in 1947 with a full basement and separate utilities (sep electric meter, sep gas meter, sep water meter).; Front unit: 3 bed/1 bath with bay windows and intricate woodwork; large living room (15x23) and master bedroom (11x13).; Back unit: 2 bed/1.5 bath with spacious living room (13x25) and a wood‑burning fireplace; upstairs bedroom (13x15) with large closet and en‑suite master bath.
