697 W Grand Ave · Muskegon, MI 49441

$57,500

3 bd · 1.0 ba · 952 sqft · SingleFamily public records · 125 Days on market

Built 1926 8,233 sqft lot ↓ 16% since listing

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

* * Investor Special * * with strong fix-and-flip and value-add potential. Distressed property well-suited for rehab, renovation, and forced-appreciation strategies. Ideal opportunity for fix & flip investors, BRRRR buyers, buy-and-hold, & landlord. Property layout and footprint support efficient cosmetic and mechanical updates including flooring, paint, kitchen, bath, and exterior enhancements to drive ARV. Located in an area with ongoing investor renovation activity. Motivated seller. Property sold as-is.

Key facts

• 8,233 sq ft lot
• Built 1926
• Listed 124 days

Property features AI

Exterior

• Utilities: Electricity available
• Home design: Ranch-style single family residence; Single-story
• Construction: Built in 1926; Wood siding construction
• Exterior features: Lot approximately 0.19 acres; Public water

Interior

• Kitchen: Kitchen (12 x 10)
• Bedrooms: Primary bedroom (12 x 11); Bedroom 2; Bedroom 3
• Bathrooms: 1 full bathroom
• Interior features: 5 total rooms; Slab basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $677 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.4% 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; 7 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 $398 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 $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $19k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.38% ✓
• Cap rate: 20.42%
• Cash-on-cash: 50.44%
• DSCR: 3.24
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $142,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1561 Beidler St	0.09mi	2/1.0 (-1)	975 (+2%)	0mo	$55,000	$56	87
935 W Southern Ave	0.30mi	2/1.0 (-1)	888 (-7%)	5mo	$177,625	$200	66
950 Young Ave	0.69mi	3/1.0	936 (-2%)	2mo	$179,400	$192	64
990 W Laketon Ave	0.51mi	2/1.0 (-1)	912 (-4%)	1mo	$200,000	$219	64
329 W Forest Ave	0.45mi	2/1.0 (-1)	1,008 (+6%)	1mo	$131,000	$130	63
1012 Ireland Ave	0.42mi	2/1.0 (-1)	881 (-8%)	0mo	$206,000	$234	62
254 W Southern Ave	0.52mi	3/1.0	873 (-8%)	1mo	$124,900	$143	61
746 Lyman Ave	0.67mi	3/1.0	924 (-3%)	3mo	$118,844	$129	61
1776 Division St	0.39mi	2/1.0 (-1)	864 (-9%)	3mo	$129,900	$150	59
1560 6th St	0.51mi	2/1.0 (-1)	1,040 (+9%)	0mo	$89,000	$86	55
1346 5th St	0.59mi	3/1.0	1,078 (+13%)	2mo	$75,000	$70	48
759 Young Ave	0.63mi	2/1.0 (-1)	864 (-9%)	7mo	$162,900	$189	44

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: 53.8%
• Equity multiple: 3.55×
• Total profit: $41,050
• Equity at exit: $8,573

10-year hold

• IRR: 60.9%
• Equity multiple: 8.72×
• Total profit: $124,306
• Equity at exit: $4,972

Cash invested: $16,100 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,370 high
• Mortgage (P&I): −$302
• Tax from tax record: −$80 /mo · $962/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $677

Break-even live

Break-even rent $514

Max offer price $57,500

Occupancy floor 46%

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: $14,375
• Closing costs: $1,725
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
488 W Muskegon Ave Muskegon, MI	2.0	1.0	1008	$1,150	$1.14	21d	1	0.43mi
292 W Western Ave Muskegon, MI	1.0–2.0	1.0–2.0	1062	$2,450	$2.31	21d	1	0.95mi
122 W Muskegon Ave Muskegon, MI	2.0	2.0	856	$795	$0.93	21d	1	1.00mi
121 E Holbrook Ave Apt 3 Muskegon, MI	2.0	1.0	650	$950	$1.46	21d	1	1.06mi
1101 Spring St Muskegon, MI	2.0	1.0	700	$1,100	$1.57	21d	1	1.18mi
310 Allen Ave Unit 2 Muskegon, MI	3.0	3.0	1100	$1,490	$1.35	21d	1	1.40mi
313 Orchard Ave Unit 1 Muskegon, MI	3.0	3.0	1121	$1,575	$1.40	21d	1	1.46mi

Listing history 26 events

1. 2026-06-19
   days on market $57,500 Active 125 DOM
2. 2026-06-18
   days on market $57,500 Active 124 DOM
3. 2026-06-17
   days on market $57,500 Active 123 DOM
4. 2026-06-16
   days on market $57,500 Active 122 DOM
5. 2026-06-15
   days on market $57,500 Active 121 DOM
6. 2026-06-14
   days on market $57,500 Active 119 DOM
7. 2026-06-13
   days on market $57,500 Active 118 DOM
8. 2026-06-10
   days on market $57,500 Active 116 DOM
9. 2026-06-09
   days on market $57,500 Active 115 DOM
10. 2026-06-08
    days on market $57,500 Active 114 DOM
11. 2026-06-07
    days on market $57,500 Active 113 DOM
12. 2026-06-05
    pricedays on market $57,500 Active 110 DOM
13. 2026-06-03
    days on market $64,500 Active 109 DOM
14. 2026-06-02
    days on market $64,500 Active 108 DOM
15. 2026-06-01
    days on market $64,500 Active 107 DOM
16. 2026-05-31
    days on market $64,500 Active 106 DOM
17. 2026-05-30
    days on market $64,500 Active 105 DOM
18. 2026-04-29
    price $64,500 526-char remark

    Show marketing remark (526 chars)

    * * Investor Special * * with strong fix-and-flip and value-add potential. Distressed property well-suited for rehab, renovation, and forced-appreciation strategies. Ideal opportunity for fix & flip investors, BRRRR buyers, buy-and-hold, & landlord. Property layout and footprint support efficient cosmetic and mechanical updates including flooring, paint, kitchen, bath, and exterior enhancements to drive ARV. Located in an area with ongoing investor renovation activity. Motivated seller. Property sold as-is.

19. 2026-04-28
    price $64,500 526-char remark

    Show marketing remark (526 chars)

    * * Investor Special * * with strong fix-and-flip and value-add potential. Distressed property well-suited for rehab, renovation, and forced-appreciation strategies. Ideal opportunity for fix & flip investors, BRRRR buyers, buy-and-hold, & landlord. Property layout and footprint support efficient cosmetic and mechanical updates including flooring, paint, kitchen, bath, and exterior enhancements to drive ARV. Located in an area with ongoing investor renovation activity. Motivated seller. Property sold as-is.

20. 2026-04-28
    price $64,500

    Show marketing remark (526 chars)

    * * Investor Special * * with strong fix-and-flip and value-add potential. Distressed property well-suited for rehab, renovation, and forced-appreciation strategies. Ideal opportunity for fix & flip investors, BRRRR buyers, buy-and-hold, & landlord. Property layout and footprint support efficient cosmetic and mechanical updates including flooring, paint, kitchen, bath, and exterior enhancements to drive ARV. Located in an area with ongoing investor renovation activity. Motivated seller. Property sold as-is.

21. 2026-04-07
    price $69,000 526-char remark

    Show marketing remark (526 chars)

    * * Investor Special * * with strong fix-and-flip and value-add potential. Distressed property well-suited for rehab, renovation, and forced-appreciation strategies. Ideal opportunity for fix & flip investors, BRRRR buyers, buy-and-hold, & landlord. Property layout and footprint support efficient cosmetic and mechanical updates including flooring, paint, kitchen, bath, and exterior enhancements to drive ARV. Located in an area with ongoing investor renovation activity. Motivated seller. Property sold as-is.

22. 2026-04-06
    price $69,000 526-char remark

    Show marketing remark (526 chars)

    * * Investor Special * * with strong fix-and-flip and value-add potential. Distressed property well-suited for rehab, renovation, and forced-appreciation strategies. Ideal opportunity for fix & flip investors, BRRRR buyers, buy-and-hold, & landlord. Property layout and footprint support efficient cosmetic and mechanical updates including flooring, paint, kitchen, bath, and exterior enhancements to drive ARV. Located in an area with ongoing investor renovation activity. Motivated seller. Property sold as-is.

23. 2026-04-06
    price $69,000

    Show marketing remark (526 chars)

    * * Investor Special * * with strong fix-and-flip and value-add potential. Distressed property well-suited for rehab, renovation, and forced-appreciation strategies. Ideal opportunity for fix & flip investors, BRRRR buyers, buy-and-hold, & landlord. Property layout and footprint support efficient cosmetic and mechanical updates including flooring, paint, kitchen, bath, and exterior enhancements to drive ARV. Located in an area with ongoing investor renovation activity. Motivated seller. Property sold as-is.

24. 2026-02-14
    listed $76,700 Active 526-char remark

    Show marketing remark (526 chars)

    * * Investor Special * * with strong fix-and-flip and value-add potential. Distressed property well-suited for rehab, renovation, and forced-appreciation strategies. Ideal opportunity for fix & flip investors, BRRRR buyers, buy-and-hold, & landlord. Property layout and footprint support efficient cosmetic and mechanical updates including flooring, paint, kitchen, bath, and exterior enhancements to drive ARV. Located in an area with ongoing investor renovation activity. Motivated seller. Property sold as-is.

25. 2026-02-14
    listed $76,700 Active 526-char remark

    Show marketing remark (526 chars)

    * * Investor Special * * with strong fix-and-flip and value-add potential. Distressed property well-suited for rehab, renovation, and forced-appreciation strategies. Ideal opportunity for fix & flip investors, BRRRR buyers, buy-and-hold, & landlord. Property layout and footprint support efficient cosmetic and mechanical updates including flooring, paint, kitchen, bath, and exterior enhancements to drive ARV. Located in an area with ongoing investor renovation activity. Motivated seller. Property sold as-is.

26. 2026-02-14
    listed $76,700 Active

    Show marketing remark (526 chars)

    * * Investor Special * * with strong fix-and-flip and value-add potential. Distressed property well-suited for rehab, renovation, and forced-appreciation strategies. Ideal opportunity for fix & flip investors, BRRRR buyers, buy-and-hold, & landlord. Property layout and footprint support efficient cosmetic and mechanical updates including flooring, paint, kitchen, bath, and exterior enhancements to drive ARV. Located in an area with ongoing investor renovation activity. Motivated seller. Property sold as-is.

ⓘ 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: $962 · $80/mo
• Projected year-2 tax: $962 · $80/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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,441
• − Mortgage interest: −$3,221
• − Property taxes: −$962
• − Insurance: −$288
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$1,673
• Taxable income: $7,668
• Est. tax owed @ 24.0%: −$1,840
• After-tax cash flow: $6,280/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

-15.9% since first listed

9 events — show timeline

• 2026-04-29 Price Changed $64,500 MiRealSource-MiMLS
• 2026-04-28 Price Changed $64,500 REALCOMP
• 2026-04-28 Price Changed $64,500 SW Michigan MLS
• 2026-04-07 Price Changed $69,000 MiRealSource-MiMLS
• 2026-04-06 Price Changed $69,000 REALCOMP
• 2026-04-06 Price Changed $69,000 SW Michigan MLS
• 2026-02-14 Listed $76,700 REALCOMP
• 2026-02-14 Listed $76,700 SW Michigan MLS
• 2026-02-14 Listed $76,700 MiRealSource-MiMLS

Property tax history

+2.9%/yr

Latest (2025): $962 · +2.2% YoY. Source: county tax records.