2417 Leahy St · Muskegon Heights, MI 49444

$165,000

4 bd · 2.0 ba · 1,770 sqft · SingleFamily public records · 64 Days on market

Built 1915 6,229 sqft lot

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.0/10.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits you with this well-maintained four-bedroom, two-bathroom home at 2417 Leahy Street, Muskegon Heights. The main level features two spacious bedrooms, a full bathroom, and a bright living area, and dinning room, inviting front enclosed front porch, with a new deck. Upstairs, you'll find two additional bedrooms, a second full bath, plus a complete kitchen and living room, offering the perfect setup for a rental opportunity once a Muskegon Heights rental certificate is obtained. With its flexible layout and income potential, this property is ideal for homeowners or investors alike. Two stall oversized detached garage for all your tools and toys. Additional lot next door is available if buyer is interested for an negotiated price. Buyer & Buyer's Agent to verify all information.

Key facts

• Bright living area
• Income potential
• Flexible layout

Tags

• BRIGHT LIVING AREA
• ENCLOSED FRONT PORCH
• NEW DECK
• COMPLETE KITCHEN
• FLEXIBLE LAYOUT
• INCOME POTENTIAL

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Electricity available; Natural gas available and connected; Natural gas water heater
• Home design: Traditional single-family residence; Residential property
• Construction: Built in 1915; Vinyl siding; Composition roof; Full basement
• Exterior features: Sidewalk; Paved road access; Lot approximately 0.14 acres

Interior

• Kitchen: Range; Refrigerator; Accessible kitchen
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Main-floor bedroom accessibility
• Bathrooms: 2 full bathrooms; Accessible main-floor full bathroom; Accessible bath sink
• Heating & cooling: Forced air heating; Window air-conditioning units
• Interior features: Garage door opener; Screens and window treatments; Replacement insulated windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#574 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Market conditions: 237 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).
• This rent runs 37% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Muskegon County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.00% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.61%
• DSCR: 1.34
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $72,570
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2220 Baker St	0.25mi	4/2.0	1,851 (+5%)	10mo	$136,000	$73	73
2615 Wood St	0.40mi	4/2.0	1,710 (-3%)	7mo	$49,500	$29	70
2500 Baker St	0.10mi	4/2.0	1,588 (-10%)	18mo	$125,500	$79	63
2144 Baker St	0.31mi	3/2.0 (-1)	1,936 (+9%)	5mo	$80,000	$41	61
2405 Howden St	0.19mi	3/2.0 (-1)	2,028 (+15%)	3mo	$29,900	$15	60
2031 Baker St	0.46mi	5/2.0 (+1)	1,666 (-6%)	7mo	$168,000	$101	57
2216 Reynolds St	0.30mi	4/1.5	1,960 (+11%)	11mo	$40,000	$20	57
2200 Peck St	0.33mi	3/1.0 (-1)	1,556 (-12%)	4mo	$160,000	$103	52
2848 Mason Blvd	0.58mi	3/2.0 (-1)	1,792 (+1%)	19mo	$48,500	$27	50
2525 Maffett St	0.19mi	3/1.0 (-1)	1,512 (-15%)	17mo	$50,000	$33	43
2921 Baker St	0.65mi	3/2.0 (-1)	1,615 (-9%)	13mo	$45,000	$28	39
2836 Leahy St	0.58mi	3/1.0 (-1)	1,614 (-9%)	18mo	$145,000	$90	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.82×
• Total profit: $-8,126
• Equity at exit: $24,602

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $16,744
• Equity at exit: $14,266

Cash invested: $46,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 49444

• Active inventory: 237
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,655 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$80 /mo · $965/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $293

Break-even live

Break-even rent $1,284

Max offer price $165,000

Occupancy floor 77%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1644 Beidler St Muskegon, MI	3.0	2.0	1228	$1,700	$1.38	21d	1	1.42mi
2073 Dowd St Muskegon, MI	3.0	2.5	1228	$1,750	$1.43	21d	1	1.43mi
2065 Dowd St Muskegon, MI	3.0	2.0	1228	$1,695	$1.38	21d	1	1.44mi

Listing history 20 events

1. 2026-06-19
   days on market $165,000 Active 64 DOM
2. 2026-06-18
   days on market $165,000 Active 63 DOM
3. 2026-06-17
   days on market $165,000 Active 62 DOM
4. 2026-06-16
   days on market $165,000 Active 61 DOM
5. 2026-06-15
   days on market $165,000 Active 60 DOM
6. 2026-06-14
   days on market $165,000 Active 58 DOM
7. 2026-06-13
   days on market $165,000 Active 57 DOM
8. 2026-06-10
   days on market $165,000 Active 55 DOM
9. 2026-06-09
   days on market $165,000 Active 54 DOM
10. 2026-06-08
    days on market $165,000 Active 53 DOM
11. 2026-06-07
    days on market $165,000 Active 52 DOM
12. 2026-06-02
    days on market $165,000 Active 47 DOM
13. 2026-06-01
    days on market $165,000 Active 46 DOM
14. 2026-05-31
    days on market $165,000 Active 45 DOM
15. 2026-05-30
    days on market $165,000 Active 44 DOM
16. 2026-04-16
    listed $165,000 Active

    Show marketing remark (809 chars)

    Opportunity awaits you with this well-maintained four-bedroom, two-bathroom home at 2417 Leahy Street, Muskegon Heights. The main level features two spacious bedrooms, a full bathroom, and a bright living area, and dinning room, inviting front enclosed front porch, with a new deck. Upstairs, you'll find two additional bedrooms, a second full bath, plus a complete kitchen and living room, offering the perfect setup for a rental opportunity once a Muskegon Heights rental certificate is obtained. With its flexible layout and income potential, this property is ideal for homeowners or investors alike. Two stall oversized detached garage for all your tools and toys. Additional lot next door is available if buyer is interested for an negotiated price. Buyer & Buyer's Agent to verify all information.

17. 2026-04-16
    listed $165,000 Active 809-char remark

    Show marketing remark (809 chars)

    Opportunity awaits you with this well-maintained four-bedroom, two-bathroom home at 2417 Leahy Street, Muskegon Heights. The main level features two spacious bedrooms, a full bathroom, and a bright living area, and dinning room, inviting front enclosed front porch, with a new deck. Upstairs, you'll find two additional bedrooms, a second full bath, plus a complete kitchen and living room, offering the perfect setup for a rental opportunity once a Muskegon Heights rental certificate is obtained. With its flexible layout and income potential, this property is ideal for homeowners or investors alike. Two stall oversized detached garage for all your tools and toys. Additional lot next door is available if buyer is interested for an negotiated price. Buyer & Buyer's Agent to verify all information.

18. 2026-04-16
    listed $165,000 Active 809-char remark

    Show marketing remark (809 chars)

    Opportunity awaits you with this well-maintained four-bedroom, two-bathroom home at 2417 Leahy Street, Muskegon Heights. The main level features two spacious bedrooms, a full bathroom, and a bright living area, and dinning room, inviting front enclosed front porch, with a new deck. Upstairs, you'll find two additional bedrooms, a second full bath, plus a complete kitchen and living room, offering the perfect setup for a rental opportunity once a Muskegon Heights rental certificate is obtained. With its flexible layout and income potential, this property is ideal for homeowners or investors alike. Two stall oversized detached garage for all your tools and toys. Additional lot next door is available if buyer is interested for an negotiated price. Buyer & Buyer's Agent to verify all information.

19. 2026-04-16
    listed $165,000 Active

    Show marketing remark (809 chars)

    Opportunity awaits you with this well-maintained four-bedroom, two-bathroom home at 2417 Leahy Street, Muskegon Heights. The main level features two spacious bedrooms, a full bathroom, and a bright living area, and dinning room, inviting front enclosed front porch, with a new deck. Upstairs, you'll find two additional bedrooms, a second full bath, plus a complete kitchen and living room, offering the perfect setup for a rental opportunity once a Muskegon Heights rental certificate is obtained. With its flexible layout and income potential, this property is ideal for homeowners or investors alike. Two stall oversized detached garage for all your tools and toys. Additional lot next door is available if buyer is interested for an negotiated price. Buyer & Buyer's Agent to verify all information.

20. 2026-04-16
    listed $165,000 Active

    Show marketing remark (809 chars)

    Opportunity awaits you with this well-maintained four-bedroom, two-bathroom home at 2417 Leahy Street, Muskegon Heights. The main level features two spacious bedrooms, a full bathroom, and a bright living area, and dinning room, inviting front enclosed front porch, with a new deck. Upstairs, you'll find two additional bedrooms, a second full bath, plus a complete kitchen and living room, offering the perfect setup for a rental opportunity once a Muskegon Heights rental certificate is obtained. With its flexible layout and income potential, this property is ideal for homeowners or investors alike. Two stall oversized detached garage for all your tools and toys. Additional lot next door is available if buyer is interested for an negotiated price. Buyer & Buyer's Agent to verify all information.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $965 · $80/mo
• Projected year-2 tax: $1,753 · $146/mo
• Expected delta: +$788/yr (+$66/mo · 81.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,860
• − Mortgage interest: −$9,243
• − Property taxes: −$965
• − Insurance: −$825
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$4,800
• Taxable income: $850
• Est. tax owed @ 24.0%: −$204
• After-tax cash flow: $3,312/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — Muskegon Heights

• Score: 61/100
• State rank: #574
• US rank: #18269

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A Health & safety F User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Muskegon Heights, MI
• County: Muskegon County · 107,917 people
• Metro: Muskegon, MI
• Population (ZIP): 26,372
• Household income: $53,054
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 930.0

Population outlook (Muskegon County) Hauer SSP2

• Today (2025): 174,032 people
• By 2030: 173,365 · -0.4%
• By 2040: 168,877 · -3.0%
• By 2050: 160,306 · -7.9%
• By 2075: 134,426 · -22.8%
• By 2100: 98,836 · -43.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Two or more races 6% Hispanic / Latino 4% Native American 1%
• Common ancestry: Iranian 6% Romanian 4% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Muskegon

• 2024 margin: Toss-up / Even · D 48.4% · R 50.2% · Other 1.5%
• 2008→2024 swing: -31.1pp toward R · 2008: 29.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.6 2016: D+0.9 2012: D+17.8 2008: D+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.02%
• Current HPI: 209.2698
• Rent YoY: —
• Metro: Muskegon, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+0.0% since first listed

5 events — show timeline

• 2026-04-16 Listed $165,000 MiRealSource-MiMLS
• 2026-04-16 Listed $165,000 REALCOMP
• 2026-04-16 Listed $165,000 MiRealSource-MiMLS
• 2026-04-16 Listed $165,000 REALCOMP
• 2026-04-16 Listed $165,000 SW Michigan MLS

Property tax history

+0.1%/yr

Latest (2025): $965 · +2.7% YoY. Source: county tax records.