192 McLaughlin Ave · Muskegon, MI 49442

$55,000

2 bd · 1.0 ba · 999 sqft · SingleFamily public records · 34 Days on market

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

FSBO Investment opportunity one mile from downtown, in the Mclaughlin neighborhood. 2 bedroom, 1 bath. Basement with potential. Good sized backyard with a slab foundation leftover from the old detached garage (no longer exists). Shared driveway, with a roughly 10 ft wide pull through to get to the back (added old exterior picture to show driveway with the old garage as reference). I& apos; ve already begun renovations with the intent to have this listed with my agent by Summer. Unfortunately, I& apos; ve got too many projects going at the moment, so one of them has to go. The front stairs have been removed to begin work on the porch and there& apos; s been some light demo in th

Key facts

• Good sized backyard
• Commercial grade lvp
• Listed 34 days

Tags

• MCLAUGHLIN NEIGHBORHOOD
• BASEMENT WITH POTENTIAL
• GOOD SIZED BACKYARD
• COMMERCIAL GRADE LVP
• BRAND NEW WATER HEATER
• FIBERGLASS SHOWER SURROUND

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.1% 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.
• 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.
• Market conditions: Rents rising fast (+8.2%/yr); 289 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $380 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 + 8.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 27y ago 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.
• Current owner paid $25k; list at $55k implies a 120% gain — meaningful room to come down on a strong offer.

Recommended offer $53,350 (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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.14% ✓
• Cap rate: 18.12%
• Cash-on-cash: 42.26%
• DSCR: 2.88
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $142,857
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1077 Sophia St	0.40mi	2/1.0	979 (-2%)	2mo	$193,000	$197	76
508 Catherine Ave	0.47mi	2/1.0	1,046 (+5%)	1mo	$125,000	$120	69
348 Orchard Ave	0.68mi	2/1.0	1,001 (+0%)	1mo	$145,000	$145	68
1221 Sanford St	0.35mi	3/2.0 (+1)	950 (-5%)	2mo	$199,900	$210	65
1560 6th St	0.61mi	2/1.0	1,040 (+4%)	0mo	$89,000	$86	64
329 W Forest Ave	0.72mi	2/1.0	1,008 (+1%)	1mo	$131,000	$130	64
1346 5th St	0.49mi	3/1.0 (+1)	1,078 (+8%)	2mo	$75,000	$70	57
1636 Wood St	0.46mi	3/1.0 (+1)	912 (-9%)	2mo	$131,500	$144	57
759 Emerald St	0.75mi	3/1.0 (+1)	974 (-2%)	2mo	$67,500	$69	54
283 E Walton Ave	0.75mi	3/2.0 (+1)	1,000 (+0%)	2mo	$208,900	$209	54
254 W Southern Ave	0.59mi	3/1.0 (+1)	873 (-13%)	1mo	$124,900	$143	46
1808 Mcilwraith St	0.71mi	3/1.0 (+1)	1,100 (+10%)	2mo	$143,500	$130	43

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: 44.6%
• Equity multiple: 3.07×
• Total profit: $31,877
• Equity at exit: $8,201

10-year hold

• IRR: 52.8%
• Equity multiple: 7.54×
• Total profit: $100,672
• Equity at exit: $4,755

Cash invested: $15,400 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,178 high
• Mortgage (P&I): −$288
• Tax from tax record: −$77 /mo · $928/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $542

Break-even live

Break-even rent $492

Max offer price $55,000

Occupancy floor 49%

Sensitivity live

Price	-10% $573	-5% $558	+0% $542	+5% $527	+10% $511
Rent	-10% $449	-5% $496	+0% $542	+5% $589	+10% $635
Rate	-1.0pp $570	-0.5pp $556	base $542	+0.5pp $528	+1.0pp $514

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: $13,750
• Closing costs: $1,650
• 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	0.15mi
1101 Spring St Muskegon, MI	2.0	1.0	700	$1,100	$1.57	22d	1	0.30mi
1021 Jefferson St Muskegon, MI	1.0	1.0	696	$826	$1.19	22d	3	0.54mi
310 Allen Ave Unit 2 Muskegon, MI	3.0	3.0	1100	$1,490	$1.35	22d	1	0.55mi
122 W Muskegon Ave Muskegon, MI	2.0	2.0	856	$795	$0.93	22d	1	0.64mi
313 Orchard Ave Unit 1 Muskegon, MI	3.0	3.0	1121	$1,575	$1.40	22d	1	0.64mi
121 E Holbrook Ave Apt 3 Muskegon, MI	2.0	1.0	650	$950	$1.46	22d	1	0.71mi
1126 Holt St Muskegon, MI	2.0	1.0	708	$1,095	$1.55	22d	1	0.77mi
1893 Jefferson St Unit 2 Muskegon, MI	1.0	1.0	594	$700	$1.18	22d	1	0.78mi
488 W Muskegon Ave Muskegon, MI	2.0	1.0	1008	$1,150	$1.14	22d	1	0.80mi
292 W Western Ave Muskegon, MI	1.0–2.0	1.0–2.0	1062	$2,450	$2.31	22d	1	0.84mi
751 Leonard Ave Muskegon, MI	2.0	1.0	1000	$1,175	$1.18	44d	1	1.44mi
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	44d	1	1.49mi

Listing history 36 events

1. 2026-06-16
   status $55,000 Under Contract 34 DOM
2. 2026-06-15
   days on market $55,000 Active 34 DOM
3. 2026-06-14
   days on market $55,000 Active 32 DOM
4. 2026-06-13
   days on market $55,000 Active 31 DOM
5. 2026-06-10
   days on market $55,000 Active 29 DOM
6. 2026-06-09
   days on market $55,000 Active 28 DOM
7. 2026-06-08
   days on market $55,000 Active 27 DOM
8. 2026-06-07
   days on market $55,000 Active 26 DOM
9. 2026-06-05
   days on market $55,000 Active 23 DOM
10. 2026-06-03
    days on market $55,000 Active 22 DOM
11. 2026-06-02
    days on market $55,000 Active 21 DOM
12. 2026-06-01
    days on market $55,000 Active 20 DOM
13. 2026-05-31
    days on market $55,000 Active 19 DOM
14. 2026-05-30
    days on market $55,000 Active 18 DOM
15. 2026-05-12
    listed $55,000 Active
16. 2014-09-25
    historical
17. 2014-09-15
    historical
18. 2014-09-15
    historical
19. 2006-07-07
    historical
20. 2005-07-07
    listed $34,900
21. 2005-07-07
    listed $34,900
22. 2005-03-17
    soldstatus $25,000
23. 2005-03-17
    soldstatus $25,000
24. 2005-03-08
    soldstatus $25,000
25. 2005-01-29
    listed $25,000
26. 2005-01-29
    listed $25,000
27. 2004-02-06
    historical
28. 2003-08-06
    listed $30,000
29. 2003-08-06
    listed $30,000
30. 2001-08-20
    soldstatus $13,000
31. 2001-08-20
    soldstatus $13,000
32. 2001-06-22
    listed $13,900
33. 2001-06-22
    listed $13,900
34. 2000-05-30
    historical
35. 1999-10-28
    listed $29,700
36. 1999-10-28
    listed $29,700

ⓘ 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: $928 · $77/mo
• Projected year-2 tax: $928 · $77/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 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: $14,142
• − Mortgage interest: −$3,081
• − Property taxes: −$928
• − Insurance: −$275
• − Repairs & maintenance: −$1,131
• − Management: −$1,131
• − Depreciation: −$1,600
• Taxable income: $5,995
• Est. tax owed @ 24.0%: −$1,439
• After-tax cash flow: $5,069/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

+85.2% since first listed

22 events — show timeline

• 2026-05-12 Listed $55,000 FSBO.com
• 2014-09-25 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2006-07-07 Listing Removed — REALCOMP
• 2005-07-07 Listed $34,900 REALCOMP
• 2005-07-07 Listed $34,900 SW Michigan MLS
• 2005-03-17 Sold (MLS) $25,000 REALCOMP
• 2005-03-17 Sold (MLS) $25,000 SW Michigan MLS
• 2005-03-08 Sold (Public Records) $25,000 Public Records
• 2005-01-29 Listed $25,000 REALCOMP
• 2005-01-29 Listed $25,000 SW Michigan MLS
• 2004-02-06 Listing Removed — REALCOMP
• 2003-08-06 Listed $30,000 REALCOMP
• 2003-08-06 Listed $30,000 SW Michigan MLS
• 2001-08-20 Sold (MLS) $13,000 REALCOMP
• 2001-08-20 Sold (MLS) $13,000 SW Michigan MLS
• 2001-06-22 Listed $13,900 REALCOMP
• 2001-06-22 Listed $13,900 SW Michigan MLS
• 2000-05-30 Listing Removed — REALCOMP
• 1999-10-28 Listed $29,700 REALCOMP
• 1999-10-28 Listed $29,700 SW Michigan MLS

Property tax history

+5.2%/yr

Latest (2025): $928 · -17.6% YoY. Source: county tax records.