1093 E Giles Rd · Muskegon, MI 49445

$224,900

2 bd · 1.0 ba · 1,068 sqft · SingleFamily public records · 5 Days on market

Built 1928 1.15 ac lot $211/sqft · at area comps Est $231k · at est.

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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 +13.7/30.0
• Appreciation +10.0/10.0
• ARV discount +8.6/15.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Tucked off the road for added privacy, this charming home in the Reeths-Puffer School District offers a peaceful setting with everyday convenience. Inside, you'll find 2 comfortable bedrooms and 1 full bathroom, along with fresh paint and new flooring throughout, making it truly move-in ready. The property also features a one-stall garage and a storage shed with electricity, perfect for hobbies, extra storage, or workspace needs. Ideally located near schools, shopping, and easy highway access, this home combines comfort, functionality, and a convenient location. Don't miss out on this home.

Key facts

• Fresh paint
• One-stall garage
• New flooring

Tags

• FRESH PAINT
• NEW FLOORING
• ONE-STALL GARAGE
• STORAGE SHED WITH ELECTRICITY
• CONVENIENT LOCATION

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Well water; Natural gas available and connected; Electricity available; Cable connected; Natural gas water heater
• Home design: Ranch style single-family home; One story
• Construction: Built in 1928; Vinyl siding; Composition roof; Slab foundation
• Exterior features: Wooded lot; Shed(s)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom (approximately 13 x 10.9); Bedroom 2 (approximately 12 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has heating; Has cooling
• Interior features: Eat-in kitchen; Mud room; Total of 6 rooms
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $15 ($175/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (12.2% below list).
• Recommended offer: $198k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• Reeths-Puffer Schools (suburban): math 28% / reading 44% proficiency, ranked #254 of 540 in MI (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,500 (12.2% below list)

Questions for the listing agent

1. Built in 1928 — 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: 0.88% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.28%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (median comp): $230,620
• List price: $224,900
• Delta: -2.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1093 E Giles Rd	0.00mi	2/1.0	1,068 (0%)	1mo	$250,000	$234	99
1662 N Roberts Rd	0.41mi	2/1.0	984 (-8%)	1mo	$275,000	$279	67
1489 Joslyn Rd	0.51mi	3/1.5 (+1)	1,056 (-1%)	9mo	$224,755	$213	60
1345 Poulson Rd	0.64mi	2/1.0	1,008 (-6%)	3mo	$245,000	$243	58
948 Becker Rd	0.59mi	3/2.0 (+1)	1,147 (+7%)	3mo	$210,000	$183	49
1559 N Getty St	0.47mi	3/1.0 (+1)	984 (-8%)	19mo	$200,500	$204	44
1446 Riblet Rd	0.54mi	3/1.0 (+1)	960 (-10%)	12mo	$230,000	$240	43
1279 Poulson Rd	0.65mi	3/1.0 (+1)	1,162 (+9%)	12mo	$250,000	$215	40
1465 Poulson Rd	0.65mi	2/1.0	920 (-14%)	8mo	$180,000	$196	40

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: 24.5%
• Equity multiple: 2.96×
• Total profit: $123,442
• Equity at exit: $202,608

10-year hold

• IRR: 21.7%
• Equity multiple: 6.76×
• Total profit: $362,832
• Equity at exit: $436,931

Cash invested: $62,972 (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 49445

• Home prices YoY: 7.2%
• Active inventory: 142
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,975 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$273 /mo · $3,270/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $15

Break-even live

Break-even rent $1,957

Max offer price $224,900

Occupancy floor 94%

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1990 Pappas Rd Muskegon, MI	3.0	2.0	1468	$1,975	$1.35	21d	1	0.80mi

Listing history 18 events

1. 2026-05-03
   status Pending 597-char remark

   Show marketing remark (597 chars)

   Tucked off the road for added privacy, this charming home in the Reeths-Puffer School District offers a peaceful setting with everyday convenience. Inside, you'll find 2 comfortable bedrooms and 1 full bathroom, along with fresh paint and new flooring throughout, making it truly move-in ready. The property also features a one-stall garage and a storage shed with electricity, perfect for hobbies, extra storage, or workspace needs. Ideally located near schools, shopping, and easy highway access, this home combines comfort, functionality, and a convenient location. Don't miss out on this home.

2. 2026-05-03
   status Pending 597-char remark

   Show marketing remark (597 chars)

   Tucked off the road for added privacy, this charming home in the Reeths-Puffer School District offers a peaceful setting with everyday convenience. Inside, you'll find 2 comfortable bedrooms and 1 full bathroom, along with fresh paint and new flooring throughout, making it truly move-in ready. The property also features a one-stall garage and a storage shed with electricity, perfect for hobbies, extra storage, or workspace needs. Ideally located near schools, shopping, and easy highway access, this home combines comfort, functionality, and a convenient location. Don't miss out on this home.

3. 2026-05-03
   status Pending

   Show marketing remark (597 chars)

   Tucked off the road for added privacy, this charming home in the Reeths-Puffer School District offers a peaceful setting with everyday convenience. Inside, you'll find 2 comfortable bedrooms and 1 full bathroom, along with fresh paint and new flooring throughout, making it truly move-in ready. The property also features a one-stall garage and a storage shed with electricity, perfect for hobbies, extra storage, or workspace needs. Ideally located near schools, shopping, and easy highway access, this home combines comfort, functionality, and a convenient location. Don't miss out on this home.

4. 2026-04-28
   listed $224,900 Active 597-char remark

   Show marketing remark (597 chars)

   Tucked off the road for added privacy, this charming home in the Reeths-Puffer School District offers a peaceful setting with everyday convenience. Inside, you'll find 2 comfortable bedrooms and 1 full bathroom, along with fresh paint and new flooring throughout, making it truly move-in ready. The property also features a one-stall garage and a storage shed with electricity, perfect for hobbies, extra storage, or workspace needs. Ideally located near schools, shopping, and easy highway access, this home combines comfort, functionality, and a convenient location. Don't miss out on this home.

5. 2026-04-28
   listed $224,900 Active 597-char remark

   Show marketing remark (597 chars)

   Tucked off the road for added privacy, this charming home in the Reeths-Puffer School District offers a peaceful setting with everyday convenience. Inside, you'll find 2 comfortable bedrooms and 1 full bathroom, along with fresh paint and new flooring throughout, making it truly move-in ready. The property also features a one-stall garage and a storage shed with electricity, perfect for hobbies, extra storage, or workspace needs. Ideally located near schools, shopping, and easy highway access, this home combines comfort, functionality, and a convenient location. Don't miss out on this home.

6. 2026-04-28
   listed $224,900 Active

   Show marketing remark (597 chars)

   Tucked off the road for added privacy, this charming home in the Reeths-Puffer School District offers a peaceful setting with everyday convenience. Inside, you'll find 2 comfortable bedrooms and 1 full bathroom, along with fresh paint and new flooring throughout, making it truly move-in ready. The property also features a one-stall garage and a storage shed with electricity, perfect for hobbies, extra storage, or workspace needs. Ideally located near schools, shopping, and easy highway access, this home combines comfort, functionality, and a convenient location. Don't miss out on this home.

7. 2021-06-09
   soldstatus $165,000
8. 2021-06-07
   soldstatus $165,000 Sold
9. 2021-06-07
   soldstatus $165,000 Sold
10. 2021-06-07
    soldstatus $165,000
11. 2021-05-05
    status Pending
12. 2021-05-05
    status Pending
13. 2021-04-26
    listed $174,900 Active
14. 2021-04-26
    listed $174,900 Active
15. 2021-04-26
    listed $174,900
16. 2005-02-07
    soldstatus $10,600
17. 2003-10-17
    soldstatus $50,000
18. 2003-09-23
    listed $49,900

ⓘ 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: $3,270 · $273/mo
• Projected year-2 tax: $3,367 · $281/mo
• Expected delta: +$97/yr (+$8/mo · 3.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°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: $23,700
• − Mortgage interest: −$12,598
• − Property taxes: −$3,270
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − Depreciation: −$6,543
• Taxable loss: −$3,627
• Est. tax savings @ 24.0%: +$871
• After-tax cash flow: $1,046/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: Reeths-Puffer Schools
• NCES district ID: 2629540
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $55,223
• Composite: 31.62/100
• National rank: #5942
• State rank: #254 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

• City population: 44,766
• 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

+401.0% since first listed

21 events — show timeline

• 2026-05-29 Sold (MLS) $250,000 SW Michigan MLS
• 2026-05-29 Sold (MLS) $250,000 MiRealSource-MiMLS
• 2026-05-29 Sold (MLS) $250,000 REALCOMP
• 2026-05-03 Pending — MiRealSource-MiMLS
• 2026-05-03 Pending — REALCOMP
• 2026-05-03 Pending — SW Michigan MLS
• 2026-04-28 Listed $224,900 SW Michigan MLS
• 2026-04-28 Listed $224,900 MiRealSource-MiMLS
• 2026-04-28 Listed $224,900 REALCOMP
• 2021-06-09 Sold (Public Records) $165,000 Public Records
• 2021-06-07 Sold (MLS) $165,000 MiRealSource-MiMLS
• 2021-06-07 Sold (MLS) $165,000 SW Michigan MLS
• 2021-06-07 Sold (MLS) $165,000 REALCOMP
• 2021-05-05 Pending — REALCOMP
• 2021-05-05 Pending — SW Michigan MLS
• 2021-04-26 Listed $174,900 MiRealSource-MiMLS
• 2021-04-26 Listed $174,900 SW Michigan MLS
• 2021-04-26 Listed $174,900 REALCOMP
• 2005-02-07 Sold (Public Records) $10,600 Public Records
• 2003-10-17 Sold (MLS) $50,000 SW Michigan MLS
• 2003-09-23 Listed $49,900 SW Michigan MLS

Property tax history

+9.3%/yr

Latest (2025): $3,270 · +2.2% YoY. Source: county tax records.