3956 Fleetwood LN Ln · Muskegon, MI 49442

$74,900

3 bd · 1.0 ba · 1,300 sqft · Other public records · 154 Days on market

Built 2017 $460/mo HOA · 31% of rent ↓ 6% since listing

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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 +26.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

Key facts

• Built 2017
• Listed 154 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $75k.

Deal economics

• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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; 1 comparable units currently listed for rent nearby; 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).
• This rent runs 36% 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 $518 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 $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $65,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.97% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.79%
• DSCR: 1.48
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.38×
• Total profit: $7,978
• Equity at exit: $11,168

10-year hold

• IRR: 23.7%
• Equity multiple: 3.82×
• Total profit: $59,157
• Equity at exit: $6,476

Cash invested: $20,972 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,476 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$460
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $189

Break-even live

Break-even rent $1,237

Max offer price $74,900

Occupancy floor 82%

Sensitivity live

Price	-10% $240	-5% $214	+0% $189	+5% $163	+10% $137
Rent	-10% $72	-5% $130	+0% $189	+5% $247	+10% $305
Rate	-1.0pp $226	-0.5pp $208	base $189	+0.5pp $169	+1.0pp $149

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2129 Arrowhead Dr Muskegon, MI	3.0	2.0	1216	$1,299	$1.07	11d	1	0.47mi

HOA detail

• Monthly dues: $460 · $5,520/yr
• Likely covers: watersewertrashcable

Listing history 12 events

1. 2026-04-09
   status Pending 424-char remark

   Show marketing remark (424 chars)

   Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

2. 2026-04-09
   status Pending 424-char remark

   Show marketing remark (424 chars)

   Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

3. 2026-04-09
   status Pending

   Show marketing remark (424 chars)

   Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

4. 2026-02-12
   price $74,900 424-char remark

   Show marketing remark (424 chars)

   Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

5. 2026-02-11
   price $74,900 424-char remark

   Show marketing remark (424 chars)

   Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

6. 2026-02-11
   price $74,900

   Show marketing remark (424 chars)

   Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

7. 2025-12-08
   price $77,900 424-char remark

   Show marketing remark (424 chars)

   Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

8. 2025-12-08
   price $77,900 424-char remark

   Show marketing remark (424 chars)

   Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

9. 2025-12-08
   price $77,900

   Show marketing remark (424 chars)

   Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

10. 2025-11-06
    listed $80,000 Active 424-char remark

    Show marketing remark (424 chars)

    Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

11. 2025-11-01
    listed $80,000 Active 424-char remark

    Show marketing remark (424 chars)

    Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

12. 2025-11-01
    listed $80,000 Active

    Show marketing remark (424 chars)

    Perfect starter or retirement home! This 2017 Harmony 3-bedroom, 2 bath home features a desirable open-concept living and dining area, offering comfortable and affordable living. Located in Arlington Woods, this home provides a great community setting. Lot rent is $460 per month and includes water, sewer, trash and cable TV - making budgeting simple and convenient! Buyer must be approved by the park. Don't miss this one!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,714
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,417
• − Management: −$1,417
• − HOA: −$5,520
• − Depreciation: −$2,179
• Taxable income: $1,487
• Est. tax owed @ 24.0%: −$357
• After-tax cash flow: $1,906/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
• 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

-6.4% since first listed

12 events — show timeline

• 2026-04-09 Pending — REALCOMP
• 2026-04-09 Pending — MiRealSource-MiMLS
• 2026-04-09 Pending — SW Michigan MLS
• 2026-02-12 Price Changed $74,900 MiRealSource-MiMLS
• 2026-02-11 Price Changed $74,900 REALCOMP
• 2026-02-11 Price Changed $74,900 SW Michigan MLS
• 2025-12-08 Price Changed $77,900 MiRealSource-MiMLS
• 2025-12-08 Price Changed $77,900 REALCOMP
• 2025-12-08 Price Changed $77,900 SW Michigan MLS
• 2025-11-06 Listed $80,000 REALCOMP
• 2025-11-01 Listed $80,000 SW Michigan MLS
• 2025-11-01 Listed $80,000 MiRealSource-MiMLS

Property tax history

+1.2%/yr

Latest (2025): $119 · +2.2% YoY. Source: county tax records.