2474 Evanston Ave · Muskegon, MI 49442

$118,500

2 bd · 1.0 ba · 934 sqft · SingleFamily public records · 80 Days on market

Built 1947 0.29 ac lot Est $183k · 35% under

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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 +18.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +5.4/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

Key facts

• Main level living
• Large backyard
• Storage shed

Tags

• MAIN LEVEL LIVING
• DEDICATED LAUNDRY AREA
• LARGE BACKYARD
• STORAGE SHED
• EASY ACCESS TO AMENITIES
• CONVENIENT MUSKEGON LOCATION

Property features AI

Exterior

• Utilities: Well water; Natural gas connected; Natural gas water heater
• Home design: Ranch-style single-family residence; Residential property
• Construction: Built in 1947; Metal roof; Other construction materials
• Exterior features: Paved road access; 0.29-acre lot

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: 6 total rooms; Slab basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $111k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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: schools D-, crime F, employment F.
• Orchard View Schools (rural): math 12% / reading 25% proficiency, ranked #479 of 540 in MI (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.2%/yr); 289 active listings in the ZIP; 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).
• This rent runs 30% of the median local income ($49k/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 $819 of loan paydown is wiped out by about $4k 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 $33k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 14y ago; this cycle's ask has dropped $11k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,390 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1947 — 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: 1.04% ✓
• Cap rate: 7.39%
• Cash-on-cash: 3.93%
• DSCR: 1.18
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $183,064
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2125 Woodward St	0.33mi	3/1.0 (+1)	943 (+1%)	8mo	$110,000	$117	71
2048 Center St	0.31mi	3/1.0 (+1)	1,056 (+13%)	1mo	$210,000	$199	58
1546 S Walker Rd	0.69mi	3/1.0 (+1)	940 (+1%)	8mo	$155,000	$165	55
1540 Center St	0.62mi	3/1.0 (+1)	922 (-1%)	14mo	$195,000	$211	52
1978 Interwood St	0.39mi	2/1.0	840 (-10%)	18mo	$165,000	$196	50
2335 Vine Ave	0.72mi	3/1.0 (+1)	890 (-5%)	6mo	$170,000	$191	48
2048 Center St	0.31mi	3/1.0 (+1)	1,056 (+13%)	13mo	$199,900	$189	47
1461 Farnsworth Ave	0.70mi	3/1.0 (+1)	888 (-5%)	10mo	$170,000	$191	45
1555 Frost St	0.74mi	3/1.0 (+1)	960 (+3%)	17mo	$194,900	$203	42
1556 Carlton St	0.72mi	3/2.0 (+1)	1,056 (+13%)	4mo	$237,500	$225	32

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: -4.4%
• Equity multiple: 0.83×
• Total profit: $-5,706
• Equity at exit: $17,669

10-year hold

• IRR: 10.6%
• Equity multiple: 2.02×
• Total profit: $33,819
• Equity at exit: $10,246

Cash invested: $33,180 (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: 289
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,234 medium
• Mortgage (P&I): −$621
• Tax from tax record: −$195 /mo · $2,340/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $109

Break-even live

Break-even rent $1,096

Max offer price $118,500

Occupancy floor 86%

Sensitivity live

Price	-10% $176	-5% $142	+0% $109	+5% $75	+10% $42
Rent	-10% $11	-5% $60	+0% $109	+5% $158	+10% $206
Rate	-1.0pp $168	-0.5pp $139	base $109	+0.5pp $78	+1.0pp $47

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: $29,625
• Closing costs: $3,555
• Reserves months: —
• Total cash needed: —

Listing history 44 events

1. 2026-06-19
   days on market $118,500 Active 80 DOM
2. 2026-06-18
   days on market $118,500 Active 79 DOM
3. 2026-06-17
   days on market $118,500 Active 78 DOM
4. 2026-06-16
   days on market $118,500 Active 77 DOM
5. 2026-06-15
   days on market $118,500 Active 76 DOM
6. 2026-06-14
   days on market $118,500 Active 74 DOM
7. 2026-06-13
   pricedays on market $118,500 Active 73 DOM
8. 2026-06-10
   days on market $119,900 Active 71 DOM
9. 2026-06-09
   days on market $119,900 Active 70 DOM
10. 2026-06-08
    days on market $119,900 Active 69 DOM
11. 2026-06-07
    days on market $119,900 Active 68 DOM
12. 2026-06-05
    days on market $119,900 Active 65 DOM
13. 2026-06-03
    days on market $119,900 Active 64 DOM
14. 2026-06-02
    days on market $119,900 Active 63 DOM
15. 2026-06-01
    days on market $119,900 Active 62 DOM
16. 2026-05-31
    days on market $119,900 Active 61 DOM
17. 2026-05-30
    days on market $119,900 Active 60 DOM
18. 2026-05-18
    status Active 752-char remark

    Show marketing remark (752 chars)

    Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

19. 2026-05-18
    status Active 752-char remark

    Show marketing remark (752 chars)

    Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

20. 2026-05-18
    status Active

    Show marketing remark (752 chars)

    Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

21. 2026-04-26
    status Pending 752-char remark

    Show marketing remark (752 chars)

    Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

22. 2026-04-26
    status Pending 752-char remark

    Show marketing remark (752 chars)

    Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

23. 2026-04-26
    status Pending

    Show marketing remark (752 chars)

    Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

24. 2026-03-23
    price $119,900 752-char remark

    Show marketing remark (752 chars)

    Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

25. 2026-03-23
    price $119,900 752-char remark

    Show marketing remark (752 chars)

    Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

26. 2026-03-22
    price $119,900
27. 2025-03-10
    listed $129,900 Active 752-char remark

    Show marketing remark (752 chars)

    Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

28. 2025-03-10
    listed $129,900 Active 752-char remark

    Show marketing remark (752 chars)

    Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

29. 2025-03-10
    listed $129,900 Active

    Show marketing remark (752 chars)

    Welcome to this ranch style home located in Muskegon Township. This 2-bedroom, 1-bath home offers approximately 946 square feet of living space with a functional layout and great natural light throughout. The main living area flows directly into the kitchen, creating a practical setup for everyday living. The home also features main-level living, a dedicated laundry area, and a brand new water heater installed May 11, 2026. Situated on nearly 0.30 acres, the property includes a spacious backyard and storage shed. The home does need some updates and repairs, making it a great opportunity for someone looking to build equity. Conveniently located near shopping, dining, parks, and major roadways. Buyer and buyer's agent to verify all information.

30. 2024-11-04
    soldstatus $139,000
31. 2024-10-11
    soldstatus $137,500 Sold
32. 2024-10-11
    soldstatus $137,500 Sold
33. 2024-10-11
    soldstatus $137,500 Closed
34. 2024-09-09
    status Pending
35. 2024-09-09
    status Pending
36. 2024-09-09
    status Pending
37. 2024-08-09
    listed $135,000 Active
38. 2024-08-09
    listed $135,000 Active
39. 2024-08-09
    listed $135,000 Active
40. 2014-09-17
    historical
41. 2012-10-25
    historical
42. 2012-04-20
    listed $39,900
43. 2012-04-20
    listed $39,900
44. 1987-12-01
    soldstatus $9,000

ⓘ 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: $2,340 · $195/mo
• Projected year-2 tax: $2,340 · $195/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 1/10 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: $14,804
• − Mortgage interest: −$6,638
• − Property taxes: −$2,340
• − Insurance: −$592
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$3,447
• Taxable loss: −$582
• Est. tax savings @ 24.0%: +$140
• After-tax cash flow: $1,445/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: Orchard View Schools
• NCES district ID: 2626760
• Math proficiency: 12% ▼ -8.00%
• Reading proficiency: 25% ▼ -4.00%
• Median HH income: $37,637
• Composite: 15.44/100
• National rank: #9314
• State rank: #479 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

• 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

+1232.2% since first listed

27 events — show timeline

• 2026-05-18 Relisted — REALCOMP
• 2026-05-18 Relisted — MiRealSource-MiMLS
• 2026-05-18 Relisted — SW Michigan MLS
• 2026-04-26 Pending — MiRealSource-MiMLS
• 2026-04-26 Pending — REALCOMP
• 2026-04-26 Pending — SW Michigan MLS
• 2026-03-23 Price Changed $119,900 MiRealSource-MiMLS
• 2026-03-23 Price Changed $119,900 REALCOMP
• 2026-03-22 Price Changed $119,900 SW Michigan MLS
• 2025-03-10 Listed $129,900 SW Michigan MLS
• 2025-03-10 Listed $129,900 MiRealSource-MiMLS
• 2025-03-10 Listed $129,900 REALCOMP
• 2024-11-04 Sold (Public Records) $139,000 Public Records
• 2024-10-11 Sold (MLS) $137,500 MiRealSource-MiMLS
• 2024-10-11 Sold (MLS) $137,500 SW Michigan MLS
• 2024-10-11 Sold (MLS) $137,500 REALCOMP
• 2024-09-09 Pending — REALCOMP
• 2024-09-09 Pending — MiRealSource-MiMLS
• 2024-09-09 Pending — SW Michigan MLS
• 2024-08-09 Listed $135,000 MiRealSource-MiMLS
• 2024-08-09 Listed $135,000 SW Michigan MLS
• 2024-08-09 Listed $135,000 REALCOMP
• 2014-09-17 Listing Removed — SW Michigan MLS
• 2012-10-25 Listing Removed — REALCOMP
• 2012-04-20 Listed $39,900 REALCOMP
• 2012-04-20 Listed $39,900 SW Michigan MLS
• 1987-12-01 Sold (Public Records) $9,000 Public Records

Property tax history

+8.6%/yr

Latest (2025): $2,340 · +180.7% YoY. Source: county tax records.