52 Iona Ave · Muskegon, MI 49442

$94,900

2 bd · 1.0 ba · 996 sqft · SingleFamily public records · 34 Days on market

Built 1800 6,098 sqft lot Est $142k · 33% under

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Why this score? — see what drove the B 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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.3/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

52 Iona Avenue, Muskegon, MI 49442 is a solid, livable 2-bedroom, 1-bath single-story home offering excellent value and instant equity potential. This 996 sq ft classic is located close to major highways and downtown Muskegon, providing convenient access to shopping, dining, parks, and Lake Michigan attractions. The functional main-level layout includes two bedrooms, a full bath, and spacious living area. The kitchen needs finishing, creating the perfect opportunity to customize while enjoying a move-in ready home. Recent updates include a newer roof, fresh vinyl siding, and energy-efficient windows. Additional features include natural gas forced-air heat, included appliances plus washer and dryer, a partial basement for storage, and a large rear yard with fire pit. This home is being sold as-is with cash or conventional mortgage offers only.

Key facts

• Newer roof
• Partial basement
• Fresh vinyl siding

Tags

• MAIN-LEVEL LAYOUT
• NEWER ROOF
• FRESH VINYL SIDING
• ENERGY-EFFICIENT WINDOWS
• INCLUDED APPLIANCES
• PARTIAL BASEMENT

Property features AI

Exterior

• Utilities: Public water; Natural gas connected; Cable connected
• Home design: Single family residence; Residential property
• Construction: Vinyl siding; Composition roof; Originally built in 1800
• Exterior features: Paved road access; Lot roughly 0.14 acres

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Five total rooms; Replacement insulated windows
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.6% in Muskegon — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#92 in MI, #2,096 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Muskegon Public Schools Of The City Of (urban): math 4% / reading 12% proficiency, ranked #534 of 540 in MI (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Muskegon Middle School (math 4% / reading 13%, grade F, #480 of 493 statewide, top 97%, 755 students, 87% FRL); Muskegon High School (math 8% / reading 27%, grade F, #632 of 713 statewide, top 89%, 1,039 students, 84% FRL) — zoned schools at 85% FRL track the district average.
• Market conditions: Rents rising fast (+8.2%/yr); 291 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.23% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.95%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $142,428
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1221 Sanford St	0.14mi	3/2.0 (+1)	950 (-5%)	2mo	$199,900	$210	75
1077 Sophia St	0.45mi	2/1.0	979 (-2%)	2mo	$193,000	$197	74
348 Orchard Ave	0.66mi	2/1.0	1,001 (+0%)	1mo	$145,000	$145	68
1560 6th St	0.53mi	2/1.0	1,040 (+4%)	0mo	$89,000	$86	68
329 W Forest Ave	0.64mi	2/1.0	1,008 (+1%)	1mo	$131,000	$130	67
1346 5th St	0.34mi	3/1.0 (+1)	1,078 (+8%)	2mo	$75,000	$70	64
508 Catherine Ave	0.60mi	2/1.0	1,046 (+5%)	2mo	$125,000	$120	62
759 Emerald St	0.71mi	3/1.0 (+1)	974 (-2%)	2mo	$67,500	$69	56
287 E Walton Ave	0.71mi	3/2.0 (+1)	1,000 (+0%)	1mo	$198,500	$199	56
254 W Southern Ave	0.51mi	3/1.0 (+1)	873 (-12%)	1mo	$124,900	$143	50
1636 Wood St	0.66mi	3/1.0 (+1)	912 (-8%)	2mo	$131,500	$144	48
1656 Park St	0.74mi	3/1.0 (+1)	912 (-8%)	0mo	$114,000	$125	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.29×
• Total profit: $7,659
• Equity at exit: $14,150

10-year hold

• IRR: 20.3%
• Equity multiple: 3.13×
• Total profit: $56,490
• Equity at exit: $8,205

Cash invested: $26,572 (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 49442

• Rents YoY: 8.2%
• Active inventory: 291
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,166 high
• Mortgage (P&I): −$498
• Tax from tax record: −$119 /mo · $1,429/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $265

Break-even live

Break-even rent $831

Max offer price $94,900

Occupancy floor 72%

Sensitivity live

Price	-10% $318	-5% $292	+0% $265	+5% $238	+10% $211
Rent	-10% $173	-5% $219	+0% $265	+5% $311	+10% $357
Rate	-1.0pp $312	-0.5pp $289	base $265	+0.5pp $240	+1.0pp $215

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1223 Terrace St Unit A Muskegon, MI	1.0	1.0	800	$1,000	$1.25	22d	1	0.09mi
1101 Spring St Muskegon, MI	2.0	1.0	700	$1,100	$1.57	22d	1	0.26mi
1021 Jefferson St Muskegon, MI	1.0	1.0	696	$826	$1.19	22d	3	0.33mi
122 W Muskegon Ave Muskegon, MI	2.0	2.0	856	$795	$0.93	22d	1	0.44mi
310 Allen Ave Unit 2 Muskegon, MI	3.0	3.0	1100	$1,490	$1.35	22d	1	0.51mi
313 Orchard Ave Unit 1 Muskegon, MI	3.0	3.0	1121	$1,575	$1.40	22d	1	0.59mi
292 W Western Ave Muskegon, MI	1.0–2.0	1.0–2.0	1062	$2,450	$2.31	22d	1	0.63mi
488 W Muskegon Ave Muskegon, MI	2.0	1.0	1008	$1,150	$1.14	22d	1	0.63mi
121 E Holbrook Ave Apt 3 Muskegon, MI	2.0	1.0	650	$950	$1.46	22d	1	0.85mi
1893 Jefferson St Unit 2 Muskegon, MI	1.0	1.0	594	$700	$1.18	22d	1	0.85mi
1126 Holt St Muskegon, MI	2.0	1.0	708	$1,095	$1.55	22d	1	0.88mi
751 Leonard Ave Muskegon, MI	2.0	1.0	1000	$1,175	$1.18	45d	1	1.42mi
860 Marquette Ave Unit 16 Muskegon, MI	2.0	1.0	1080	$1,250	$1.16	22d	1	1.49mi
860 Marquette Ave Unit 15 Muskegon, MI	2.0	1.0	1080	$1,325	$1.23	45d	1	1.49mi

Listing history 22 events

1. 2026-06-05
   days on market $94,900 Active 34 DOM
2. 2026-06-03
   days on market $94,900 Active 33 DOM
3. 2026-06-02
   days on market $94,900 Active 32 DOM
4. 2026-06-01
   days on market $94,900 Active 31 DOM
5. 2026-05-31
   days on market $94,900 Active 30 DOM
6. 2026-05-30
   days on market $94,900 Active 29 DOM
7. 2026-05-12
   price $94,900 854-char remark

   Show marketing remark (854 chars)

   52 Iona Avenue, Muskegon, MI 49442 is a solid, livable 2-bedroom, 1-bath single-story home offering excellent value and instant equity potential. This 996 sq ft classic is located close to major highways and downtown Muskegon, providing convenient access to shopping, dining, parks, and Lake Michigan attractions. The functional main-level layout includes two bedrooms, a full bath, and spacious living area. The kitchen needs finishing, creating the perfect opportunity to customize while enjoying a move-in ready home. Recent updates include a newer roof, fresh vinyl siding, and energy-efficient windows. Additional features include natural gas forced-air heat, included appliances plus washer and dryer, a partial basement for storage, and a large rear yard with fire pit. This home is being sold as-is with cash or conventional mortgage offers only.

8. 2026-05-11
   price $94,900 854-char remark

   Show marketing remark (854 chars)

   52 Iona Avenue, Muskegon, MI 49442 is a solid, livable 2-bedroom, 1-bath single-story home offering excellent value and instant equity potential. This 996 sq ft classic is located close to major highways and downtown Muskegon, providing convenient access to shopping, dining, parks, and Lake Michigan attractions. The functional main-level layout includes two bedrooms, a full bath, and spacious living area. The kitchen needs finishing, creating the perfect opportunity to customize while enjoying a move-in ready home. Recent updates include a newer roof, fresh vinyl siding, and energy-efficient windows. Additional features include natural gas forced-air heat, included appliances plus washer and dryer, a partial basement for storage, and a large rear yard with fire pit. This home is being sold as-is with cash or conventional mortgage offers only.

9. 2026-05-11
   price $94,900

   Show marketing remark (854 chars)

   52 Iona Avenue, Muskegon, MI 49442 is a solid, livable 2-bedroom, 1-bath single-story home offering excellent value and instant equity potential. This 996 sq ft classic is located close to major highways and downtown Muskegon, providing convenient access to shopping, dining, parks, and Lake Michigan attractions. The functional main-level layout includes two bedrooms, a full bath, and spacious living area. The kitchen needs finishing, creating the perfect opportunity to customize while enjoying a move-in ready home. Recent updates include a newer roof, fresh vinyl siding, and energy-efficient windows. Additional features include natural gas forced-air heat, included appliances plus washer and dryer, a partial basement for storage, and a large rear yard with fire pit. This home is being sold as-is with cash or conventional mortgage offers only.

10. 2026-05-01
    listed $99,900 Active 854-char remark

    Show marketing remark (854 chars)

    52 Iona Avenue, Muskegon, MI 49442 is a solid, livable 2-bedroom, 1-bath single-story home offering excellent value and instant equity potential. This 996 sq ft classic is located close to major highways and downtown Muskegon, providing convenient access to shopping, dining, parks, and Lake Michigan attractions. The functional main-level layout includes two bedrooms, a full bath, and spacious living area. The kitchen needs finishing, creating the perfect opportunity to customize while enjoying a move-in ready home. Recent updates include a newer roof, fresh vinyl siding, and energy-efficient windows. Additional features include natural gas forced-air heat, included appliances plus washer and dryer, a partial basement for storage, and a large rear yard with fire pit. This home is being sold as-is with cash or conventional mortgage offers only.

11. 2026-05-01
    listed $99,900 Active 854-char remark

    Show marketing remark (854 chars)

    52 Iona Avenue, Muskegon, MI 49442 is a solid, livable 2-bedroom, 1-bath single-story home offering excellent value and instant equity potential. This 996 sq ft classic is located close to major highways and downtown Muskegon, providing convenient access to shopping, dining, parks, and Lake Michigan attractions. The functional main-level layout includes two bedrooms, a full bath, and spacious living area. The kitchen needs finishing, creating the perfect opportunity to customize while enjoying a move-in ready home. Recent updates include a newer roof, fresh vinyl siding, and energy-efficient windows. Additional features include natural gas forced-air heat, included appliances plus washer and dryer, a partial basement for storage, and a large rear yard with fire pit. This home is being sold as-is with cash or conventional mortgage offers only.

12. 2026-05-01
    listed $99,900 Active

    Show marketing remark (854 chars)

    52 Iona Avenue, Muskegon, MI 49442 is a solid, livable 2-bedroom, 1-bath single-story home offering excellent value and instant equity potential. This 996 sq ft classic is located close to major highways and downtown Muskegon, providing convenient access to shopping, dining, parks, and Lake Michigan attractions. The functional main-level layout includes two bedrooms, a full bath, and spacious living area. The kitchen needs finishing, creating the perfect opportunity to customize while enjoying a move-in ready home. Recent updates include a newer roof, fresh vinyl siding, and energy-efficient windows. Additional features include natural gas forced-air heat, included appliances plus washer and dryer, a partial basement for storage, and a large rear yard with fire pit. This home is being sold as-is with cash or conventional mortgage offers only.

13. 2024-10-28
    soldstatus $80,000
14. 2024-10-22
    soldstatus $80,000 Sold
15. 2024-10-22
    soldstatus $80,000 Sold
16. 2024-10-22
    soldstatus $80,000 Closed
17. 2024-08-12
    status Pending
18. 2024-08-12
    historical
19. 2024-08-12
    listed $79,900
20. 2024-08-12
    listed $79,900 Active
21. 2024-08-12
    historical
22. 2024-08-12
    listed $79,900

ⓘ 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: $1,429 · $119/mo
• Projected year-2 tax: $1,445 · $120/mo
• Expected delta: +$16/yr (+$1/mo · 1.1%)

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

Taxation est. · year 1

• Rental income: $13,990
• − Mortgage interest: −$5,316
• − Property taxes: −$1,429
• − Insurance: −$474
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$2,761
• Taxable income: $1,771
• Est. tax owed @ 24.0%: −$425
• After-tax cash flow: $2,751/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)

• District: Muskegon Public Schools Of The City Of
• NCES district ID: 2624840
• Math proficiency: 4% ▼ -9.00%
• Reading proficiency: 12% ▼ -9.00%
• Median HH income: $27,622
• Composite: 5.8/100
• National rank: #10017
• State rank: #534 of 540 in MI

Livability — Muskegon

• Score: 79/100
• State rank: #92
• US rank: #2096

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Muskegon, MI
• County: Muskegon County · 107,917 people
• City population: 44,766
• Metro: Muskegon, MI
• Population (ZIP): 44,766
• Household income: $48,563
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 1598.0

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 0.56)
• Race & ethnicity: White 63% Black 22% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Iranian 5% Romanian 4% Lithuanian 3%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -174.87%
• Current HPI: 287.0558
• Rent YoY: ▲ 8.21%
• 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

+18.8% since first listed

16 events — show timeline

• 2026-05-12 Price Changed $94,900 MiRealSource-MiMLS
• 2026-05-11 Price Changed $94,900 REALCOMP
• 2026-05-11 Price Changed $94,900 SW Michigan MLS
• 2026-05-01 Listed $99,900 SW Michigan MLS
• 2026-05-01 Listed $99,900 REALCOMP
• 2026-05-01 Listed $99,900 MiRealSource-MiMLS
• 2024-10-28 Sold (Public Records) $80,000 Public Records
• 2024-10-22 Sold (MLS) $80,000 MiRealSource-MiMLS
• 2024-10-22 Sold (MLS) $80,000 SW Michigan MLS
• 2024-10-22 Sold (MLS) $80,000 REALCOMP
• 2024-08-12 Pending — SW Michigan MLS
• 2024-08-12 Listed $79,900 MiRealSource-MiMLS
• 2024-08-12 Listing Removed — MiRealSource-MiMLS
• 2024-08-12 Listed $79,900 SW Michigan MLS
• 2024-08-12 Listed $79,900 REALCOMP
• 2024-08-12 Listing Removed — REALCOMP

Property tax history

+8.1%/yr

Latest (2025): $1,429 · +85.2% YoY. Source: county tax records.