1656 Park St · Muskegon, MI 49441

$114,900

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 8 Days on market

Built 1920 3,964 sqft lot Est $137k · 16% under

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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 +26.8/30.0
• ARV discount +14.7/15.0
• DSCR +9.2/10.0
• 1% rule +6.7/10.0
• 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

Full of character and potential, 1656 Park Street offers a great opportunity for buyers looking to build equity and make a home their own. This charming residence features inviting curb appeal, a welcoming front sunroom and back porch, a functional layout with comfortable living spaces and an unfinished full basement that provides excellent storage and future possibilities. Off the rear alley, you'll find a private driveway with parking for up to three vehicles, plus a well-maintained one-car garage. Major mechanical updates include a newer furnace and water heater, providing added peace of mind. Conveniently located near downtown Muskegon, schools, parks, shopping, and the Lake Michigan shoreline, this home combines solid fundamentals, valuable updates, and plenty of opportunity for customization. Whether you're a first-time buyer, investor, or someone looking for a home with great bones and room to add your personal touch, 1656 Park Street is worth a closer look.

Key facts

• One car garage
• Newer furnace
• Private driveway

Tags

• FRONT SUNROOM
• BACK PORCH
• UNFINISHED FULL BASEMENT
• PRIVATE DRIVEWAY
• ONE CAR GARAGE
• NEWER FURNACE

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Electricity available; Natural gas connected
• Home design: Ranch-style single family residence; Built in 1920
• Construction: Aluminum and vinyl siding; Composition roof; Full basement
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 5 rooms (includes bedrooms and other living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 9.6% 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 21d 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 $794 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 17y 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,900

Questions for the listing agent

1. Built in 1920 — 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: 1.17% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.70%
• DSCR: 1.52
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $136,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
254 W Southern Ave	0.24mi	3/1.0	873 (-4%)	1mo	$124,900	$143	81
329 W Forest Ave	0.11mi	2/1.0 (-1)	1,008 (+10%)	1mo	$131,000	$130	71
1561 Beidler St	0.39mi	2/1.0 (-1)	975 (+7%)	0mo	$55,000	$56	65
1457 7th St	0.25mi	2/1.0 (-1)	800 (-12%)	1mo	$150,000	$188	62
990 W Laketon Ave	0.70mi	2/1.0 (-1)	912 (0%)	1mo	$200,000	$219	61
1560 6th St	0.22mi	2/1.0 (-1)	1,040 (+14%)	0mo	$89,000	$86	61
1641 Sanford St	0.41mi	2/1.0 (-1)	830 (-9%)	1mo	$120,000	$145	60
1776 Division St	0.54mi	2/1.0 (-1)	864 (-5%)	3mo	$129,900	$150	59
1012 Ireland Ave	0.71mi	2/1.0 (-1)	881 (-3%)	0mo	$206,000	$234	56
1221 Sanford St	0.68mi	3/2.0	950 (+4%)	2mo	$199,900	$210	55
2128 8th St	0.63mi	2/1.0 (-1)	988 (+8%)	2mo	$32,123	$33	50
1441 Leahy St	0.71mi	2/1.0 (-1)	816 (-10%)	2mo	$183,000	$224	43

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: 6.4%
• Equity multiple: 1.26×
• Total profit: $8,475
• Equity at exit: $17,132

10-year hold

• IRR: 19.7%
• Equity multiple: 3.04×
• Total profit: $65,502
• Equity at exit: $9,934

Cash invested: $32,172 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,348 high
• Mortgage (P&I): −$603
• Tax from tax record: −$101 /mo · $1,211/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $314

Break-even live

Break-even rent $951

Max offer price $114,900

Occupancy floor 72%

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: $28,725
• Closing costs: $3,447
• 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	0.58mi
121 E Holbrook Ave Apt 3 Muskegon, MI	2.0	1.0	650	$950	$1.46	21d	1	0.70mi
122 W Muskegon Ave Muskegon, MI	2.0	2.0	856	$795	$0.93	21d	1	1.02mi
1101 Spring St Muskegon, MI	2.0	1.0	700	$1,100	$1.57	21d	1	1.04mi
292 W Western Ave Muskegon, MI	1.0–2.0	1.0–2.0	1062	$2,450	$2.31	21d	1	1.05mi
310 Allen Ave Unit 2 Muskegon, MI	3.0	3.0	1100	$1,490	$1.35	21d	1	1.29mi
313 Orchard Ave Unit 1 Muskegon, MI	3.0	3.0	1121	$1,575	$1.40	21d	1	1.37mi

Listing history 14 events

1. 2026-05-21
   status Pending 979-char remark

   Show marketing remark (979 chars)

   Full of character and potential, 1656 Park Street offers a great opportunity for buyers looking to build equity and make a home their own. This charming residence features inviting curb appeal, a welcoming front sunroom and back porch, a functional layout with comfortable living spaces and an unfinished full basement that provides excellent storage and future possibilities. Off the rear alley, you'll find a private driveway with parking for up to three vehicles, plus a well-maintained one-car garage. Major mechanical updates include a newer furnace and water heater, providing added peace of mind. Conveniently located near downtown Muskegon, schools, parks, shopping, and the Lake Michigan shoreline, this home combines solid fundamentals, valuable updates, and plenty of opportunity for customization. Whether you're a first-time buyer, investor, or someone looking for a home with great bones and room to add your personal touch, 1656 Park Street is worth a closer look.

2. 2026-05-21
   status Pending 979-char remark

   Show marketing remark (979 chars)

   Full of character and potential, 1656 Park Street offers a great opportunity for buyers looking to build equity and make a home their own. This charming residence features inviting curb appeal, a welcoming front sunroom and back porch, a functional layout with comfortable living spaces and an unfinished full basement that provides excellent storage and future possibilities. Off the rear alley, you'll find a private driveway with parking for up to three vehicles, plus a well-maintained one-car garage. Major mechanical updates include a newer furnace and water heater, providing added peace of mind. Conveniently located near downtown Muskegon, schools, parks, shopping, and the Lake Michigan shoreline, this home combines solid fundamentals, valuable updates, and plenty of opportunity for customization. Whether you're a first-time buyer, investor, or someone looking for a home with great bones and room to add your personal touch, 1656 Park Street is worth a closer look.

3. 2026-05-21
   status Pending

   Show marketing remark (979 chars)

   Full of character and potential, 1656 Park Street offers a great opportunity for buyers looking to build equity and make a home their own. This charming residence features inviting curb appeal, a welcoming front sunroom and back porch, a functional layout with comfortable living spaces and an unfinished full basement that provides excellent storage and future possibilities. Off the rear alley, you'll find a private driveway with parking for up to three vehicles, plus a well-maintained one-car garage. Major mechanical updates include a newer furnace and water heater, providing added peace of mind. Conveniently located near downtown Muskegon, schools, parks, shopping, and the Lake Michigan shoreline, this home combines solid fundamentals, valuable updates, and plenty of opportunity for customization. Whether you're a first-time buyer, investor, or someone looking for a home with great bones and room to add your personal touch, 1656 Park Street is worth a closer look.

4. 2026-05-13
   listed $114,900 Active 979-char remark

   Show marketing remark (979 chars)

   Full of character and potential, 1656 Park Street offers a great opportunity for buyers looking to build equity and make a home their own. This charming residence features inviting curb appeal, a welcoming front sunroom and back porch, a functional layout with comfortable living spaces and an unfinished full basement that provides excellent storage and future possibilities. Off the rear alley, you'll find a private driveway with parking for up to three vehicles, plus a well-maintained one-car garage. Major mechanical updates include a newer furnace and water heater, providing added peace of mind. Conveniently located near downtown Muskegon, schools, parks, shopping, and the Lake Michigan shoreline, this home combines solid fundamentals, valuable updates, and plenty of opportunity for customization. Whether you're a first-time buyer, investor, or someone looking for a home with great bones and room to add your personal touch, 1656 Park Street is worth a closer look.

5. 2026-05-13
   listed $114,900 Active 979-char remark

   Show marketing remark (979 chars)

   Full of character and potential, 1656 Park Street offers a great opportunity for buyers looking to build equity and make a home their own. This charming residence features inviting curb appeal, a welcoming front sunroom and back porch, a functional layout with comfortable living spaces and an unfinished full basement that provides excellent storage and future possibilities. Off the rear alley, you'll find a private driveway with parking for up to three vehicles, plus a well-maintained one-car garage. Major mechanical updates include a newer furnace and water heater, providing added peace of mind. Conveniently located near downtown Muskegon, schools, parks, shopping, and the Lake Michigan shoreline, this home combines solid fundamentals, valuable updates, and plenty of opportunity for customization. Whether you're a first-time buyer, investor, or someone looking for a home with great bones and room to add your personal touch, 1656 Park Street is worth a closer look.

6. 2026-05-13
   listed $114,900 Active

   Show marketing remark (979 chars)

   Full of character and potential, 1656 Park Street offers a great opportunity for buyers looking to build equity and make a home their own. This charming residence features inviting curb appeal, a welcoming front sunroom and back porch, a functional layout with comfortable living spaces and an unfinished full basement that provides excellent storage and future possibilities. Off the rear alley, you'll find a private driveway with parking for up to three vehicles, plus a well-maintained one-car garage. Major mechanical updates include a newer furnace and water heater, providing added peace of mind. Conveniently located near downtown Muskegon, schools, parks, shopping, and the Lake Michigan shoreline, this home combines solid fundamentals, valuable updates, and plenty of opportunity for customization. Whether you're a first-time buyer, investor, or someone looking for a home with great bones and room to add your personal touch, 1656 Park Street is worth a closer look.

7. 2014-09-26
   historical
8. 2014-09-17
   historical
9. 2013-04-12
   historical
10. 2012-05-24
    listed $14,900
11. 2012-05-24
    listed $14,900
12. 2011-06-30
    historical
13. 2009-09-26
    listed $14,900
14. 2009-09-26
    listed $14,900

ⓘ 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: $1,211 · $101/mo
• Projected year-2 tax: $1,490 · $124/mo
• Expected delta: +$279/yr (+$23/mo · 23.1%)

ⓘ 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 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: $16,176
• − Mortgage interest: −$6,436
• − Property taxes: −$1,211
• − Insurance: −$574
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$3,343
• Taxable income: $2,024
• Est. tax owed @ 24.0%: −$486
• After-tax cash flow: $3,278/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

+671.1% since first listed

14 events — show timeline

• 2026-05-21 Pending — MiRealSource-MiMLS
• 2026-05-21 Pending — REALCOMP
• 2026-05-21 Pending — SW Michigan MLS
• 2026-05-13 Listed $114,900 SW Michigan MLS
• 2026-05-13 Listed $114,900 REALCOMP
• 2026-05-13 Listed $114,900 MiRealSource-MiMLS
• 2014-09-26 Listing Removed — SW Michigan MLS
• 2014-09-17 Listing Removed — SW Michigan MLS
• 2013-04-12 Listing Removed — REALCOMP
• 2012-05-24 Listed $14,900 REALCOMP
• 2012-05-24 Listed $14,900 SW Michigan MLS
• 2011-06-30 Listing Removed — REALCOMP
• 2009-09-26 Listed $14,900 REALCOMP
• 2009-09-26 Listed $14,900 SW Michigan MLS

Property tax history

-0.2%/yr

Latest (2025): $1,211 · +2.2% YoY. Source: county tax records.