3120 Maffett St · Muskegon Heights, MI 49444

$69,900

3 bd · 1.0 ba · 888 sqft · SingleFamily public records · 43 Days on market

Built 1925 6,316 sqft lot Est $96k · 27% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Prime investment opportunity in Muskegon Heights! This 3-bedroom, 1-bath traditional-style home is situated on a spacious corner lot and offers significant potential for equity growth. Spanning 888 finished square feet, the layout includes a large living and dining area, a kitchen with flexible gas or electric hookups, and a main-floor primary bedroom. With wood siding already in place, this home is a strong candidate for a value-add renovation or a long-term rental portfolio addition. Located within the Muskegon Heights School District and conveniently close to local transit routes.

Key facts

• 6,316 sq ft lot
• Built 1925
• Listed 42 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional single-family residence; One-story (living area 798 sq ft); Built in 1925
• Construction: Aluminum and vinyl siding; Composition roof
• Exterior features: Lot approximately 0.15 acres; Public water

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Seven total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 8.4% in Muskegon Heights — 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 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; 6 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $70k implies a 382% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1925 — 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: 1.69% ✓
• Cap rate: 14.47%
• Cash-on-cash: 29.19%
• DSCR: 2.30
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $95,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2933 Baker St	0.20mi	2/1.0 (-1)	900 (+1%)	1mo	$111,000	$123	83
3301 7th St	0.42mi	2/1.0 (-1)	880 (-1%)	2mo	$82,000	$93	72
3300 Jefferson St	0.23mi	2/1.0 (-1)	810 (-9%)	0mo	$60,000	$74	69
2833 Hoyt St	0.34mi	2/1.0 (-1)	848 (-4%)	4mo	$90,000	$106	69
2618 Hoyt St	0.65mi	3/1.0	878 (-1%)	1mo	$74,900	$85	67
3229 7th St	0.41mi	2/1.0 (-1)	846 (-5%)	2mo	$78,000	$92	66
224 E Lincoln Ave	0.22mi	3/1.0	770 (-13%)	2mo	$90,000	$117	66
356 Amsterdam Ave	0.54mi	2/1.0 (-1)	876 (-1%)	3mo	$99,900	$114	65
3044 Morton Ave	0.27mi	2/1.0 (-1)	984 (+11%)	3mo	$95,000	$97	62
142 Harrison Blvd	0.36mi	3/1.0	768 (-14%)	3mo	$97,000	$126	58
375 W Maplewood Ave	0.60mi	3/1.0	984 (+11%)	2mo	$105,894	$108	52
3304 Waalkes St	0.66mi	2/1.0 (-1)	760 (-14%)	0mo	$115,900	$153	40

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: 23.6%
• Equity multiple: 1.97×
• Total profit: $18,998
• Equity at exit: $10,422

10-year hold

• IRR: 31.5%
• Equity multiple: 3.84×
• Total profit: $55,593
• Equity at exit: $6,044

Cash invested: $19,572 (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 49444

• Active inventory: 237
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,179 high
• Mortgage (P&I): −$367
• Tax from tax record: −$59 /mo · $712/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $476

Break-even live

Break-even rent $576

Max offer price $69,900

Occupancy floor 55%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 E Lincoln Ave Muskegon, MI	2.0	1.0	1020	$1,100	$1.08	21d	1	0.24mi
3040 Temple St Muskegon, MI	2.0	1.0	900	$1,150	$1.28	21d	1	0.72mi
2901 Temple St Unit 1 Muskegon Heights, MI	2.0	1.0	850	$1,095	$1.29	43d	1	0.80mi
3041 Lemuel St Muskegon, MI	3.0	1.0	872	$1,195	$1.37	21d	1	0.81mi
889 Woodside Rd Unit 36 Muskegon, MI	2.0	1.0	880	$1,125	$1.28	43d	1	1.14mi
3223 Bailey St Norton Shores, MI	2.0–3.0	2.0	1096	$1,319	$1.20	21d	1	1.38mi

Listing history 29 events

1. 2026-06-19
   days on market $69,900 Active 43 DOM
2. 2026-06-18
   days on market $69,900 Active 42 DOM
3. 2026-06-17
   days on market $69,900 Active 41 DOM
4. 2026-06-16
   days on market $69,900 Active 40 DOM
5. 2026-06-15
   days on market $69,900 Active 39 DOM
6. 2026-06-14
   days on market $69,900 Active 37 DOM
7. 2026-06-13
   days on market $69,900 Active 36 DOM
8. 2026-06-10
   days on market $69,900 Active 34 DOM
9. 2026-06-09
   days on market $69,900 Active 33 DOM
10. 2026-06-08
    days on market $69,900 Active 32 DOM
11. 2026-06-07
    days on market $69,900 Active 31 DOM
12. 2026-06-02
    days on market $69,900 Active 26 DOM
13. 2026-06-01
    days on market $69,900 Active 25 DOM
14. 2026-05-31
    days on market $69,900 Active 24 DOM
15. 2026-05-30
    days on market $69,900 Active 23 DOM
16. 2026-05-22
    price $69,900 590-char remark

    Show marketing remark (590 chars)

    Prime investment opportunity in Muskegon Heights! This 3-bedroom, 1-bath traditional-style home is situated on a spacious corner lot and offers significant potential for equity growth. Spanning 888 finished square feet, the layout includes a large living and dining area, a kitchen with flexible gas or electric hookups, and a main-floor primary bedroom. With wood siding already in place, this home is a strong candidate for a value-add renovation or a long-term rental portfolio addition. Located within the Muskegon Heights School District and conveniently close to local transit routes.

17. 2026-05-22
    price $69,900 590-char remark

    Show marketing remark (590 chars)

    Prime investment opportunity in Muskegon Heights! This 3-bedroom, 1-bath traditional-style home is situated on a spacious corner lot and offers significant potential for equity growth. Spanning 888 finished square feet, the layout includes a large living and dining area, a kitchen with flexible gas or electric hookups, and a main-floor primary bedroom. With wood siding already in place, this home is a strong candidate for a value-add renovation or a long-term rental portfolio addition. Located within the Muskegon Heights School District and conveniently close to local transit routes.

18. 2026-05-22
    price $69,900

    Show marketing remark (590 chars)

    Prime investment opportunity in Muskegon Heights! This 3-bedroom, 1-bath traditional-style home is situated on a spacious corner lot and offers significant potential for equity growth. Spanning 888 finished square feet, the layout includes a large living and dining area, a kitchen with flexible gas or electric hookups, and a main-floor primary bedroom. With wood siding already in place, this home is a strong candidate for a value-add renovation or a long-term rental portfolio addition. Located within the Muskegon Heights School District and conveniently close to local transit routes.

19. 2026-05-07
    listed $79,900 Active 590-char remark

    Show marketing remark (590 chars)

    Prime investment opportunity in Muskegon Heights! This 3-bedroom, 1-bath traditional-style home is situated on a spacious corner lot and offers significant potential for equity growth. Spanning 888 finished square feet, the layout includes a large living and dining area, a kitchen with flexible gas or electric hookups, and a main-floor primary bedroom. With wood siding already in place, this home is a strong candidate for a value-add renovation or a long-term rental portfolio addition. Located within the Muskegon Heights School District and conveniently close to local transit routes.

20. 2026-05-07
    listed $79,900 Active 590-char remark

    Show marketing remark (590 chars)

    Prime investment opportunity in Muskegon Heights! This 3-bedroom, 1-bath traditional-style home is situated on a spacious corner lot and offers significant potential for equity growth. Spanning 888 finished square feet, the layout includes a large living and dining area, a kitchen with flexible gas or electric hookups, and a main-floor primary bedroom. With wood siding already in place, this home is a strong candidate for a value-add renovation or a long-term rental portfolio addition. Located within the Muskegon Heights School District and conveniently close to local transit routes.

21. 2026-05-07
    listed $79,900 Active

    Show marketing remark (590 chars)

    Prime investment opportunity in Muskegon Heights! This 3-bedroom, 1-bath traditional-style home is situated on a spacious corner lot and offers significant potential for equity growth. Spanning 888 finished square feet, the layout includes a large living and dining area, a kitchen with flexible gas or electric hookups, and a main-floor primary bedroom. With wood siding already in place, this home is a strong candidate for a value-add renovation or a long-term rental portfolio addition. Located within the Muskegon Heights School District and conveniently close to local transit routes.

22. 2019-08-31
    historical
23. 2019-08-30
    historical
24. 2019-08-30
    historical
25. 2019-07-04
    price $18,000
26. 2019-07-03
    listed $18,000
27. 2019-07-03
    listed $15,000 Active
28. 2019-07-03
    listed $18,000
29. 1996-02-19
    soldstatus $14,500

ⓘ 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: $712 · $59/mo
• Projected year-2 tax: $894 · $75/mo
• Expected delta: +$182/yr (+$15/mo · 25.6%)

ⓘ 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 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: $14,144
• − Mortgage interest: −$3,915
• − Property taxes: −$712
• − Insurance: −$350
• − Repairs & maintenance: −$1,131
• − Management: −$1,131
• − Depreciation: −$2,033
• Taxable income: $4,870
• Est. tax owed @ 24.0%: −$1,169
• After-tax cash flow: $4,545/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

+382.1% since first listed

14 events — show timeline

• 2026-05-22 Price Changed $69,900 MiRealSource-MiMLS
• 2026-05-22 Price Changed $69,900 REALCOMP
• 2026-05-22 Price Changed $69,900 SW Michigan MLS
• 2026-05-07 Listed $79,900 SW Michigan MLS
• 2026-05-07 Listed $79,900 REALCOMP
• 2026-05-07 Listed $79,900 MiRealSource-MiMLS
• 2019-08-31 Listing Removed — SW Michigan MLS
• 2019-08-30 Listing Removed — MiRealSource-MiMLS
• 2019-08-30 Listing Removed — REALCOMP
• 2019-07-04 Price Changed $18,000 SW Michigan MLS
• 2019-07-03 Listed $18,000 MiRealSource-MiMLS
• 2019-07-03 Listed $15,000 SW Michigan MLS
• 2019-07-03 Listed $18,000 REALCOMP
• 1996-02-19 Sold (Public Records) $14,500 Public Records

Property tax history

-2.2%/yr

Latest (2025): $712 · +2.8% YoY. Source: county tax records.