1603 Peck St · Muskegon, MI 49441

$164,900

5 bd · 1.0 ba · 2,349 sqft · SingleFamily public records · 26 Days on market

Built 1908 5,793 sqft lot Est $207k · 20% 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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +6.8/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits in the Clinton-Peck Historic District! This spacious 5-bedroom, 1.5-bath home is filled with character, charm, and endless potential. Inside, you'll find generous living space along with a unique spiral staircase connecting the main and upper levels, plus an additional staircase that adds both convenience and classic appeal. With a little TLC, this home could truly shine once again and offers an easy opportunity to convert into a duplex for added investment potential or multi-generational living. Whether you're looking for your next home, a restoration project, or an investment opportunity, this property offers plenty of flexibility. Conveniently located near downtown Muskegon, local restaurants, parks, and Lake Michigan! Schedule your tour today!Agent Only Remarks: Buyer and buyers agent to verify all information.

Key facts

• Additional staircase
• Investment potential
• 5,793 sq ft lot

Tags

• CLINTON-PECK HISTORIC DISTRICT
• UNIQUE SPIRAL STAIRCASE
• ADDITIONAL STAIRCASE
• INVESTMENT POTENTIAL
• MULTI-GENERATIONAL LIVING
• NEAR DOWNTOWN MUSKEGON

Property features AI

Exterior

• Parking: Attached garage
• Utilities: Public water
• Home design: Traditional single-family residence; Built in 1908
• Construction: Aluminum siding; Wood siding; Shingle roof; Built in 1908
• Exterior features: Corner lot; Paved road access; Public water

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Radiant heating
• Interior features: Storm windows; Partial basement; 12 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $487 ($6k/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: $162k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 (+18.1%/yr); 268 active listings in the ZIP; 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).
• This rent runs 35% of the median local income ($67k/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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 28y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $165k implies a 267% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,426 (1.5% below list)

Questions for the listing agent

1. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.18% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.65%
• DSCR: 1.56
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $206,712
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
77 W Forest Ave	0.08mi	4/2.0 (-1)	2,302 (-2%)	9mo	$240,000	$104	76
1783 Sanford St	0.23mi	4/2.0 (-1)	2,096 (-11%)	2mo	$185,000	$88	61
1591 Terrace St	0.32mi	6/2.0 (+1)	2,166 (-8%)	3mo	$175,000	$81	60
204 Merrill Ave	0.55mi	5/2.0	2,332 (-1%)	15mo	$150,000	$64	57
339 W Southern Ave	0.38mi	4/2.0 (-1)	2,304 (-2%)	16mo	$179,000	$78	57
1148 Terrace St	0.60mi	5/2.0	2,380 (+1%)	14mo	$170,000	$71	54
2032 Hoyt St	0.65mi	4/1.0 (-1)	2,300 (-2%)	13mo	$149,000	$65	50
1181 Peck St	0.53mi	4/2.0 (-1)	2,279 (-3%)	14mo	$140,000	$61	49
1261 4th St	0.48mi	4/2.0 (-1)	2,075 (-12%)	8mo	$219,000	$106	43
1698 Wood St	0.55mi	4/2.0 (-1)	2,014 (-14%)	0mo	$180,000	$89	42
1200 Pine St	0.59mi	4/2.0 (-1)	2,096 (-11%)	10mo	$210,000	$100	37
606 Houston Ave	0.75mi	4/2.0 (-1)	2,140 (-9%)	19mo	$229,900	$107	25

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: 7.6%
• Equity multiple: 1.32×
• Total profit: $14,559
• Equity at exit: $24,587

10-year hold

• IRR: 20.7%
• Equity multiple: 3.15×
• Total profit: $99,374
• Equity at exit: $14,258

Cash invested: $46,172 (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 49441

• Rents YoY: 18.1%
• Active inventory: 268
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,949 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$119 /mo · $1,429/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $487

Break-even live

Break-even rent $1,332

Max offer price $164,900

Occupancy floor 70%

Sensitivity live

Price	-10% $580	-5% $533	+0% $487	+5% $440	+10% $393
Rent	-10% $333	-5% $410	+0% $487	+5% $564	+10% $641
Rate	-1.0pp $570	-0.5pp $529	base $487	+0.5pp $444	+1.0pp $401

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-17
   status $164,900 Pending 26 DOM
2. 2026-06-16
   days on market $164,900 Active 26 DOM
3. 2026-06-15
   days on market $164,900 Active 25 DOM
4. 2026-06-14
   days on market $164,900 Active 23 DOM
5. 2026-06-13
   days on market $164,900 Active 22 DOM
6. 2026-06-10
   pricedays on market $164,900 Active 20 DOM
7. 2026-06-09
   days on market $174,900 Active 19 DOM
8. 2026-06-08
   days on market $174,900 Active 18 DOM
9. 2026-06-07
   days on market $174,900 Active 17 DOM
10. 2026-06-05
    days on market $174,900 Active 14 DOM
11. 2026-06-03
    days on market $174,900 Active 13 DOM
12. 2026-06-02
    days on market $174,900 Active 12 DOM
13. 2026-06-01
    days on market $174,900 Active 11 DOM
14. 2026-05-31
    days on market $174,900 Active 10 DOM
15. 2026-05-30
    days on market $174,900 Active 9 DOM
16. 2026-05-21
    listed $184,900 Active 845-char remark

    Show marketing remark (845 chars)

    Opportunity awaits in the Clinton-Peck Historic District! This spacious 5-bedroom, 1.5-bath home is filled with character, charm, and endless potential. Inside, you'll find generous living space along with a unique spiral staircase connecting the main and upper levels, plus an additional staircase that adds both convenience and classic appeal. With a little TLC, this home could truly shine once again and offers an easy opportunity to convert into a duplex for added investment potential or multi-generational living. Whether you're looking for your next home, a restoration project, or an investment opportunity, this property offers plenty of flexibility. Conveniently located near downtown Muskegon, local restaurants, parks, and Lake Michigan! Schedule your tour today!Agent Only Remarks: Buyer and buyers agent to verify all information.

17. 2026-05-21
    listed $184,900 Active 845-char remark

    Show marketing remark (845 chars)

    Opportunity awaits in the Clinton-Peck Historic District! This spacious 5-bedroom, 1.5-bath home is filled with character, charm, and endless potential. Inside, you'll find generous living space along with a unique spiral staircase connecting the main and upper levels, plus an additional staircase that adds both convenience and classic appeal. With a little TLC, this home could truly shine once again and offers an easy opportunity to convert into a duplex for added investment potential or multi-generational living. Whether you're looking for your next home, a restoration project, or an investment opportunity, this property offers plenty of flexibility. Conveniently located near downtown Muskegon, local restaurants, parks, and Lake Michigan! Schedule your tour today!Agent Only Remarks: Buyer and buyers agent to verify all information.

18. 2026-05-21
    listed $184,900 Active

    Show marketing remark (845 chars)

    Opportunity awaits in the Clinton-Peck Historic District! This spacious 5-bedroom, 1.5-bath home is filled with character, charm, and endless potential. Inside, you'll find generous living space along with a unique spiral staircase connecting the main and upper levels, plus an additional staircase that adds both convenience and classic appeal. With a little TLC, this home could truly shine once again and offers an easy opportunity to convert into a duplex for added investment potential or multi-generational living. Whether you're looking for your next home, a restoration project, or an investment opportunity, this property offers plenty of flexibility. Conveniently located near downtown Muskegon, local restaurants, parks, and Lake Michigan! Schedule your tour today!Agent Only Remarks: Buyer and buyers agent to verify all information.

19. 2026-05-19
    historical
20. 2026-05-19
    historical
21. 2026-05-15
    price $184,900
22. 2026-05-15
    price $184,900
23. 2026-05-15
    price $184,900
24. 2026-05-11
    listed $189,900 Active
25. 2026-05-11
    listed $189,900 Active
26. 2014-09-18
    historical
27. 2014-09-16
    historical
28. 2014-03-28
    soldstatus $44,900
29. 2014-03-28
    soldstatus $44,900
30. 2013-11-04
    listed $44,900
31. 2013-11-04
    listed $44,900
32. 2013-11-03
    historical
33. 2013-06-03
    listed $49,900
34. 2013-06-03
    listed $49,900
35. 2010-07-22
    historical
36. 2010-04-22
    listed $69,900
37. 2010-04-22
    listed $69,900
38. 1998-09-04
    soldstatus $58,000
39. 1998-09-04
    soldstatus $58,000
40. 1998-04-08
    listed $64,900

ⓘ 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: $1,984 · $165/mo
• Expected delta: +$555/yr (+$46/mo · 38.8%)

ⓘ 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: $23,383
• − Mortgage interest: −$9,237
• − Property taxes: −$1,429
• − Insurance: −$824
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$4,797
• Taxable income: $3,354
• Est. tax owed @ 24.0%: −$805
• After-tax cash flow: $5,037/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): 36,779
• Household income: $67,427
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 938.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 8% Romanian 5% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1%

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: ▼ -448.86%
• Current HPI: 263.8317
• Rent YoY: ▲ 18.11%
• 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

+184.9% since first listed

25 events — show timeline

• 2026-05-21 Listed $184,900 SW Michigan MLS
• 2026-05-21 Listed $184,900 REALCOMP
• 2026-05-21 Listed $184,900 MiRealSource-MiMLS
• 2026-05-19 Listing Removed — MiRealSource-MiMLS
• 2026-05-19 Listing Removed — REALCOMP
• 2026-05-15 Price Changed $184,900 MiRealSource-MiMLS
• 2026-05-15 Price Changed $184,900 REALCOMP
• 2026-05-15 Price Changed $184,900 SW Michigan MLS
• 2026-05-11 Listed $189,900 REALCOMP
• 2026-05-11 Listed $189,900 MiRealSource-MiMLS
• 2014-09-18 Listing Removed — SW Michigan MLS
• 2014-09-16 Listing Removed — SW Michigan MLS
• 2014-03-28 Sold (MLS) $44,900 REALCOMP
• 2014-03-28 Sold (MLS) $44,900 SW Michigan MLS
• 2013-11-04 Listed $44,900 REALCOMP
• 2013-11-04 Listed $44,900 SW Michigan MLS
• 2013-11-03 Listing Removed — REALCOMP
• 2013-06-03 Listed $49,900 REALCOMP
• 2013-06-03 Listed $49,900 SW Michigan MLS
• 2010-07-22 Listing Removed — REALCOMP
• 2010-04-22 Listed $69,900 REALCOMP
• 2010-04-22 Listed $69,900 SW Michigan MLS
• 1998-09-04 Sold (Public Records) $58,000 Public Records
• 1998-09-04 Sold (MLS) $58,000 SW Michigan MLS
• 1998-04-08 Listed $64,900 SW Michigan MLS

Property tax history

-0.5%/yr

Latest (2025): $1,429 · +1.8% YoY. Source: county tax records.