617 Oscar · North Muskegon, MI 49445

$225,000

3 bd · 1.5 ba · 1,050 sqft · SingleFamily public records · 3 Days on market

Built 1950 0.29 ac lot Est $211k · 7% over

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Why this score? — see what drove the D+ 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 +12.3/30.0
• Appreciation +10.0/10.0
• Schools +5.2/10.0
• ARV discount +4.5/15.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover the charm of this classic 3 bedroom ranch home located in a North Muskegon. This home offers character and plenty of space to enjoy on the main level and in the basement. Situated on a large lot, the property provides room for gardening, outdoor entertaining, or simply relaxing in a peaceful setting. New furnace and AC plus roof is less than 10 years old. Immediate possession. It's a wonderful opportunity to enjoy the charm of an older home while making it your own. Conveniently located near Hardings, Brooklyn Bagels, Hometown Pharmacy and the Muskegon bike path.

Key facts

• New furnace
• Outdoor entertaining
• Classic ranch home

Tags

• CLASSIC RANCH HOME
• LARGE LOT
• ROOM FOR GARDENING
• OUTDOOR ENTERTAINING
• NEW FURNACE
• NEW AC

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water
• Home design: Ranch-style single family residence; Single-story
• Construction: Built in 1950; Vinyl siding; Composition roof; Full basement (finished status not specified)
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Garage door opener; 6 total rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-41 ($-496/yr) — negative.
• To cash-flow at today's rent, offer at most $218k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (20.0% below list).
• Recommended offer: $180k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.1% in North 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 77/100 on livability (#129 in MI, #3,195 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• North Muskegon Public Schools (suburban): math 52% / reading 65% proficiency, ranked #84 of 760 in MI (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 142 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).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Muskegon County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $180,000 (20.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.79%
• DSCR: 0.96
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $211,050
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
506 Straley St	0.12mi	3/1.0	955 (-9%)	2mo	$242,500	$254	75
2659 Celery Ln	0.35mi	3/2.0	1,090 (+4%)	3mo	$226,000	$207	73
613 Oscar St	0.02mi	3/1.0	1,140 (+9%)	14mo	$279,900	$246	71
418 Straley St	0.14mi	3/1.0	952 (-9%)	13mo	$239,900	$252	65
1846 Mills Ave	0.62mi	2/1.0 (-1)	1,040 (-1%)	2mo	$125,000	$120	61
2202 Oak Ave	0.31mi	4/1.0 (+1)	1,117 (+6%)	22mo	$225,000	$201	50
1929 Lake Ave	0.51mi	2/1.0 (-1)	1,080 (+3%)	20mo	$200,000	$185	48
1838 Moulton Ave	0.65mi	2/1.5 (-1)	1,116 (+6%)	9mo	$200,000	$179	47
1837 Mills Ave	0.64mi	3/1.0	1,024 (-2%)	21mo	$173,000	$169	46
1848 Oak Ave	0.62mi	2/1.0 (-1)	930 (-11%)	15mo	$179,900	$193	33
2003 Moulton Ave	0.46mi	2/2.0 (-1)	897 (-15%)	24mo	$171,000	$191	27
1833 Cedar Ave	0.66mi	2/1.0 (-1)	907 (-14%)	16mo	$191,000	$211	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 2.90×
• Total profit: $119,879
• Equity at exit: $202,698

10-year hold

• IRR: 21.1%
• Equity multiple: 6.64×
• Total profit: $355,037
• Equity at exit: $437,126

Cash invested: $63,000 (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 49445

• Home prices YoY: 7.2%
• Active inventory: 142
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$190 /mo · $2,276/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-41

Break-even live

Break-even rent $1,852

Max offer price $217,698

Occupancy floor 97%

Sensitivity live

Price	-10% $86	-5% $22	+0% $-41	+5% $-105	+10% $-169
Rent	-10% $-184	-5% $-112	+0% $-41	+5% $30	+10% $101
Rate	-1.0pp $72	-0.5pp $16	base $-41	+0.5pp $-100	+1.0pp $-159

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
614 E Sunset Dr Muskegon, MI	2.0	2.0	1028	$1,800	$1.75	21d	1	0.86mi

Listing history 4 events

1. 2026-06-05
   statusdays on market $225,000 Pending 3 DOM
2. 2026-06-03
   days on market $225,000 Active 2 DOM
3. 2026-06-02
   remarks 578-char remark
4. 2026-06-02
   listed $225,000 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: $2,276 · $190/mo
• Projected year-2 tax: $2,870 · $239/mo
• Expected delta: +$595/yr (+$50/mo · 26.1%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$12,603
• − Property taxes: −$2,276
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$6,545
• Taxable loss: −$4,406
• Est. tax savings @ 24.0%: +$1,057
• After-tax cash flow: $561/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: North Muskegon Public Schools
• NCES district ID: 2625800
• Math proficiency: 52% ▲ 8.00%
• Reading proficiency: 65% ▲ 13.00%
• Median HH income: $57,539
• Composite: 52.2/100
• National rank: #3473
• State rank: #84 of 760 in MI

Livability — North Muskegon

• Score: 77/100
• State rank: #129
• US rank: #3195

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Muskegon, MI
• Population (ZIP): 21,090

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 (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 10% Romanian 4% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

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: ▲ 40.82%
• Current HPI: 605.31
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-01 Listed $225,000 REALCOMP
• 2026-06-01 Listed $225,000 MiRealSource-MiMLS
• 2026-06-01 Listed $225,000 SW Michigan MLS

Property tax history

+3.2%/yr

Latest (2025): $2,276 · +2.4% YoY. Source: county tax records.