2541 Jefferson St · Muskegon Heights, MI 49444

$159,900

4 bd · 2.0 ba · 1,452 sqft · MultiFamily public records · 5 Days on market

Built 1935 6,098 sqft lot

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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 +20.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Attention cash or commercial investors! Instant cash flowing duplex is remodeled & ready to go! Many major and minor upgrades in 2021 including all new vinyl double-hung windows, new furnace, new water heater, repainted interior, new plumbing, carpeting, fixtures, blinds etc. Each unit boasts a private entrance, updated kitchen, dining room, living room, private gas, & electric. 2 BR market rent is $855 per month per unit, or $940 including utilities so easy cash flow here. Can be leased for you prior to or after closing if desired but is vacant currently for easy showings. Located just a block from both the elementary and high schools. Owner is an entity partially owned by a licensed real estate broker in Michigan. No offer deadline. Possession at closing. Set appt today!

Key facts

• Fresh paint
• Updated windows
• Updated flooring

Tags

• UPDATED WINDOWS
• UPDATED FLOORING
• FRESH PAINT
• OWN GAS AND ELECTRIC METERS

Property features AI

Finance

• Other: Located near corner of Sherman and Jefferson in Muskegon Heights (mailing city: Muskegon)
• Financial info: Multi-family with 2 total units; Unit rents listed at $1,000 and $1,000
• HOA & community: Landlord/association pays water and sewer; Landlord/association pays trash removal

Exterior

• Utilities: Natural gas; Water and sewer service (landlord/association pays); Trash removal (landlord/association pays)
• Home design: Multi-family property; Built in 1935
• Construction: Wood construction; Basement foundation; Built in 1935
• Exterior features: Wood exterior; Basement foundation; Road access via city/county paved streets; Frontage of 50 feet; Lot is approximately 0.14 acres

Interior

• Heating & cooling: Wall heating; Forced air heating; No cooling system; Natural gas fuel
• Interior features: Sidewalks on the lot

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive. Per door: $109/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).

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; 4 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).
• This rent runs 38% of the median local income ($53k/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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 20 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 $118k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $100,188
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2936 Sanford St	0.51mi	4/2.0	1,568 (+8%)	3mo	$107,900	$69	60

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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-12,019
• Equity at exit: $23,842

10-year hold

• IRR: 2.3%
• Equity multiple: 1.17×
• Total profit: $7,492
• Equity at exit: $13,825

Cash invested: $44,772 (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: 15.9×

Monthly cashflow live

• Estimated rent: $1,674 high
• Mortgage (P&I): −$839
• Tax from tax record: −$200 /mo · $2,395/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $218

Break-even live

Break-even rent $1,398

Max offer price $159,900

Occupancy floor 82%

Sensitivity live

Price	-10% $308	-5% $263	+0% $218	+5% $172	+10% $127
Rent	-10% $85	-5% $152	+0% $218	+5% $284	+10% $350
Rate	-1.0pp $298	-0.5pp $258	base $218	+0.5pp $176	+1.0pp $134

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,674
Total (2 units)			$1,674

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2073 Dowd St Muskegon, MI	3.0	2.5	1228	$1,750	$1.43	21d	1	1.25mi
2065 Dowd St Muskegon, MI	3.0	2.0	1228	$1,695	$1.38	21d	1	1.26mi
1644 Beidler St Muskegon, MI	3.0	2.0	1228	$1,700	$1.38	21d	1	1.41mi
80 E Grand Ave Muskegon, MI	3.0	1.5	1200	$1,300	$1.08	21d	1	1.44mi

Listing history 9 events

1. 2026-06-19
   days on market $159,900 Active 5 DOM
2. 2026-06-18
   days on market $159,900 Active 4 DOM
3. 2026-06-17
   days on market $159,900 Active 3 DOM
4. 2026-06-16
   days on market $159,900 Active 2 DOM
5. 2026-06-15
   remarks 405-char remark
6. 2026-06-15
   days on marketlisting id $159,900 Active 1 DOM
7. 2026-06-15
   days on market $159,900 Active 2 DOM
8. 2026-06-14
   remarks 403-char remark
9. 2026-06-14
   listed $159,900 Active 1 DOM

ⓘ 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: $2,395 · $200/mo
• Projected year-2 tax: $2,429 · $202/mo
• Expected delta: +$34/yr (+$3/mo · 1.4%)

ⓘ 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 · 14 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: $20,088
• − Mortgage interest: −$8,957
• − Property taxes: −$2,395
• − Insurance: −$800
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − Depreciation: −$4,652
• Taxable income: $71
• Est. tax owed @ 24.0%: −$17
• After-tax cash flow: $2,596/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

+300.8% since first listed

50 events — show timeline

• 2026-06-13 Listed $159,900 MiRealSource-MiMLS
• 2022-03-07 Sold (Public Records) $118,000 Public Records
• 2022-02-28 Sold (MLS) $118,000 SW Michigan MLS
• 2022-02-28 Sold (MLS) $118,000 REALCOMP
• 2022-01-18 Pending — REALCOMP
• 2022-01-18 Pending — SW Michigan MLS
• 2022-01-01 Price Changed $117,500 REALCOMP
• 2022-01-01 Relisted — REALCOMP
• 2021-12-30 Price Changed $117,500 SW Michigan MLS
• 2021-12-30 Relisted — SW Michigan MLS
• 2021-12-21 Pending — REALCOMP
• 2021-12-21 Pending — SW Michigan MLS
• 2021-12-09 Listed $117,500 MiRealSource-MiMLS
• 2021-12-09 Listed $129,900 SW Michigan MLS
• 2021-12-09 Listed $129,900 REALCOMP
• 2021-05-07 Sold (Public Records) $41,500 Public Records
• 2021-05-07 Sold (Public Records) $29,000 Public Records
• 2021-02-19 Sold (MLS) $41,500 SW Michigan MLS
• 2021-02-19 Sold (MLS) $41,500 REALCOMP
• 2021-01-29 Pending — REALCOMP
• 2021-01-29 Pending — SW Michigan MLS
• 2021-01-29 Relisted — REALCOMP
• 2021-01-29 Relisted — SW Michigan MLS
• 2021-01-15 Pending — SW Michigan MLS
• 2021-01-13 Relisted — SW Michigan MLS
• 2020-12-31 Pending — SW Michigan MLS
• 2020-12-29 Listing Removed — REALCOMP
• 2020-11-06 Listed $49,999 MiRealSource-MiMLS
• 2020-11-06 Listed $49,999 SW Michigan MLS
• 2020-11-06 Listed $49,999 REALCOMP
• 2018-06-22 Listing Removed — SW Michigan MLS
• 2018-06-21 Listing Removed — REALCOMP
• 2017-12-23 Listed $22,000 SW Michigan MLS
• 2017-12-21 Listed $22,000 REALCOMP
• 2015-12-18 Listing Removed — SW Michigan MLS
• 2015-12-18 Sold (MLS) $4,000 SW Michigan MLS
• 2015-12-18 Sold (MLS) $4,000 REALCOMP
• 2015-12-02 Pending — SW Michigan MLS
• 2015-11-13 Price Changed $4,000 SW Michigan MLS
• 2015-10-08 Listed $7,000 SW Michigan MLS
• 2015-10-08 Listed $4,000 REALCOMP
• 2014-10-17 Listing Removed — SW Michigan MLS
• 2014-10-16 Listing Removed — SW Michigan MLS
• 2014-09-24 Listing Removed — SW Michigan MLS
• 2007-11-13 Listed $39,900 SW Michigan MLS
• 2006-05-26 Sold (Public Records) $37,000 Public Records
• 2003-02-07 Sold (MLS) $29,900 SW Michigan MLS
• 2002-08-30 Listed $32,000 SW Michigan MLS
• 2002-05-22 Listed $32,000 SW Michigan MLS
• 1999-11-05 Listed $39,900 SW Michigan MLS

Property tax history

+6.8%/yr

Latest (2025): $2,395 · +2.8% YoY. Source: county tax records.