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Douglas 49406
440 Water Street
$619,000
● House - Off Market

440 Water Street

Douglas, MI 49406
bedrooms
2 Beds
bathrooms
2 Baths
square feet
770 Ft²
$3,639
Est. Monthly
1.07%
Cap Rate

About This Property

DON'T LET THE SMALL SIZE FOOL YOU!!! This 2 bedroom, 2 bath cottage feels SO much bigger. Bedrooms are separated for maximum privacy, It has an updated kitchen, original hardwood floors, gas fireplace and screened-in porch. The oversized one-car garage is a bonus but can also be converted into flexible living space. The back yard is HUGE and FULLY fenced in. Currently being used as a popular rental property ($74K in 2023 & $76K in 2024) but would make an excellent primary or secondary home with plenty of space for future additions. Walking distance to downtown Douglas - and an easy bike or short drive to Saugatuck. Reinforced the deck, added hot tub, installed new flooring in bedroom, new shower/tub, and new HVAC/AC since last purchase. Furnishings sold with the house.
Unit Size
770 Ft²
Days on Market
-
Land Size
0.42 acres
Price per sqft
$804
Property Type
House
Property Taxes
$599
HOA Dues
-
Year Built
1954

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 11 months ago (MichRIC MLS #25032580)

Price History

Date / Event Date Event Price
Dec 2, 2025 No longer available -
No longer available
Aug 13, 2025 Price Decreased $619,000
↓ $20K (3.1%)
Price Decreased
Jul 10, 2025 Price Decreased $639,000
↓ $11K (1.7%)
Price Decreased
Jul 3, 2025 Listed by Jaqua Realtors $650,000
Listed by Jaqua Realtors
Jul 14, 2021 Sold
Premium
Sold
Show More

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1954
  • Effective Year Built: 1954
  • Building Count: 1
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 17
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 352
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 18,295
  • Lot Size Depth Feet: 2,030
  • Lot Size Frontage Feet: 900
  • Total Building Area: 770
  • Building Area: 770
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 770
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000420
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: COM AT A PT 1023' W & 169.62' N OF SE COR TH N 1 1/4 DEG W 90' TH W 203.5' TH S'LY TO A PT DUE W OF BEG TH E 203.5' TO POB

Neighborhood

  • School District Name: Saugatuck Public Schools
  • School Tax School District: SAUGATUCK
  • Census Tract: 030800

Zoning

  • Zoning: R-1 RES PU

Geography

  • District: 59
  • Parcel: 59-016-104-00
  • Meridian: SEC 16 TWN 03N RNG 16W
  • Municipality: DOUGLAS CITY
  • Latitude: 42.6371
  • Longitude: -86.1968

    Address

  • Full Address: 440 Water St
  • Address - House Number: 440
  • Address - Street Name: Water
  • Address - Suffix Type: St
  • State: MI
  • City Name: Douglas
  • Carrier Code: R777
  • 4-Digit Zip Code: 5104
  • Zip Code: 49406

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $649,581

    Appraisal Valuation

  • Standard Deviation: 0.1992
  • Valuation Date: Dec 07, 2022
  • Confidence Score: 73
  • Final Value: 406,493
  • High Value: 487,481
  • Low Value: 325,504

    Market Valuation

  • Market Total Value: $222,600
  • Market Land Value: $75,000
  • Market Improvement Value: $147,600

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $111,300
  • Assessed Land Value: $37,500
  • Assessed Improvements Value: $73,800

    Sales

  • Current Sale Contract Date: Jul 09, 2021
  • Current Sale Recording Date: Jul 14, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Previous Sale Recording Date: Oct 25, 2018
  • Previous Sale Contract Date: Oct 18, 2018
  • Previous Sale Amount: $248,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Douglas

Stats & Trends

Median Asking:

$744,000

Sale Price/ft²

$385

Below Asking

0.01%

Average Days on Market

54

Average Home Size

2243 ft²

Average Home Age

48 years

Currently For Sale

21 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 8 W Center Street, Douglas, MI, 49406

$1,600 /mo

  • 1 Bed
  • 1 Bath
  • 4,878 ft²
8 W Center Street #A, Douglas, MI, 49406 Listing by Molly Rettig

Rentals Near You

Click here to view more rentals in the neighborhood.
MichRIC

Listed by: Keely Frye, Jaqua Realtors
Last Updated: 11 months ago
Data Source: MichRIC, MLS# 25032580
Information is deemed reliable but not guaranteed. Copyright 2026 MichRIC, LLC. All rights reserved. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 440 Water Street built and last sold?
The property at 440 Water Street was built in 1954 and last sold on Jul 9, 2021 for $365,000.
How much is this home worth?
The estimated value of the home located at 440 Water Street is $0.
What are some comparable homes to 440 Water Street?
There are currently no comparable homes to 440 Water Street.
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