3207 Jefferson St · Muskegon Heights, MI 49444

$65,000

5 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 38 Days on market

Built 1925 7,841 sqft lot Est $113k · 43% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks MLS

Affordable opportunity in Muskegon Heights with solid potential as a rental or primary residence. This 5 bedroom home sits on a rare double lot, offering additional yard space and flexibility. The partially fenced yard, large concrete driveway, and extra parking area provide plenty of room for vehicles and everyday use. Recent updates include new flooring, fresh paint, updated kitchen countertops, and a new bathroom vanity, giving the home a clean starting point. The layout is simple and functional with a spacious main living area and additional usable space throughout. This is a straightforward property with room for improvement over time, making it a strong option for a long term hold or someone looking for an affordable place to call home.

Key facts

• Extra parking area
• Double lot
• New bathroom vanity

Tags

• DOUBLE LOT
• PARTIALLY FENCED YARD
• LARGE CONCRETE DRIVEWAY
• EXTRA PARKING AREA
• UPDATED KITCHEN COUNTERTOPS
• NEW BATHROOM VANITY

Property features AI

Exterior

• Utilities: - Public water; - Electricity available; - Natural gas connected
• Home design: - Cape Cod style; - Single-family residence
• Construction: - Vinyl siding; - Composition shingle roof; - Built in 1925
• Exterior features: - Sidewalk; - Paved road access

Interior

• Kitchen: - Kitchen
• Bedrooms: - Primary bedroom; - Bedroom 2; - Bedroom 3; - Bedroom 4; - Bedroom 5
• Bathrooms: - 1 full bathroom
• Heating & cooling: - Baseboard heating
• Interior features: - Total of 9 rooms; - Partial basement; - 3-season bonus room
• Laundry & utility: - Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $794 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.0% vs local median 8.4% in Muskegon Heights — 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 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: 239 active listings in the ZIP; 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).
• This rent runs 37% 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 $449 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 + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $65k implies a 442% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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 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?
5. 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?
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: 2.49% ✓
• Cap rate: 20.96%
• Cash-on-cash: 52.37%
• DSCR: 3.33
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $113,300
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3225 Maffett St	0.15mi	4/2.0 (-1)	1,064 (-3%)	1mo	$164,697	$155	78
3233 Jefferson St	0.06mi	4/1.0 (-1)	970 (-12%)	8mo	$90,000	$93	66
3326 Lemuel St	0.59mi	4/1.0 (-1)	1,122 (+2%)	12mo	$115,500	$103	54

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: 50.4%
• Equity multiple: 3.20×
• Total profit: $40,105
• Equity at exit: $9,692

10-year hold

• IRR: 55.8%
• Equity multiple: 6.51×
• Total profit: $100,254
• Equity at exit: $5,620

Cash invested: $18,200 (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: 239
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,618 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$116 /mo · $1,387/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $794

Break-even live

Break-even rent $612

Max offer price $65,000

Occupancy floor 46%

Sensitivity live

Price	-10% $831	-5% $813	+0% $794	+5% $776	+10% $758
Rent	-10% $667	-5% $730	+0% $794	+5% $858	+10% $922
Rate	-1.0pp $827	-0.5pp $811	base $794	+0.5pp $778	+1.0pp $760

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-07
   statusdays on market $65,000 Pending 38 DOM
2. 2026-06-02
   days on market $65,000 Active 36 DOM
3. 2026-06-01
   days on market $65,000 Active 35 DOM
4. 2026-05-31
   days on market $65,000 Active 34 DOM
5. 2026-05-30
   days on market $65,000 Active 33 DOM
6. 2026-04-27
   listed $70,000 Active

   Show marketing remark (752 chars)

   Affordable opportunity in Muskegon Heights with solid potential as a rental or primary residence. This 5 bedroom home sits on a rare double lot, offering additional yard space and flexibility. The partially fenced yard, large concrete driveway, and extra parking area provide plenty of room for vehicles and everyday use. Recent updates include new flooring, fresh paint, updated kitchen countertops, and a new bathroom vanity, giving the home a clean starting point. The layout is simple and functional with a spacious main living area and additional usable space throughout. This is a straightforward property with room for improvement over time, making it a strong option for a long term hold or someone looking for an affordable place to call home.

7. 2026-04-27
   listed $70,000 Active 752-char remark

   Show marketing remark (752 chars)

   Affordable opportunity in Muskegon Heights with solid potential as a rental or primary residence. This 5 bedroom home sits on a rare double lot, offering additional yard space and flexibility. The partially fenced yard, large concrete driveway, and extra parking area provide plenty of room for vehicles and everyday use. Recent updates include new flooring, fresh paint, updated kitchen countertops, and a new bathroom vanity, giving the home a clean starting point. The layout is simple and functional with a spacious main living area and additional usable space throughout. This is a straightforward property with room for improvement over time, making it a strong option for a long term hold or someone looking for an affordable place to call home.

8. 2026-04-27
   listed $70,000 Active 752-char remark

   Show marketing remark (752 chars)

   Affordable opportunity in Muskegon Heights with solid potential as a rental or primary residence. This 5 bedroom home sits on a rare double lot, offering additional yard space and flexibility. The partially fenced yard, large concrete driveway, and extra parking area provide plenty of room for vehicles and everyday use. Recent updates include new flooring, fresh paint, updated kitchen countertops, and a new bathroom vanity, giving the home a clean starting point. The layout is simple and functional with a spacious main living area and additional usable space throughout. This is a straightforward property with room for improvement over time, making it a strong option for a long term hold or someone looking for an affordable place to call home.

9. 2020-03-20
   soldstatus $12,000
10. 2020-03-20
    soldstatus $12,000 Sold
11. 2020-03-11
    status Pending
12. 2020-03-09
    price $12,500
13. 2020-03-02
    price $15,000
14. 2020-02-28
    price $18,000
15. 2020-02-24
    listed $12,500
16. 2020-02-24
    listed $20,000 Active
17. 2020-02-24
    listed $12,500
18. 1989-12-15
    soldstatus $18,600

ⓘ 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: $1,387 · $116/mo
• Projected year-2 tax: $1,387 · $116/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 6 d/yr ≥93°F today · 13 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: $19,411
• − Mortgage interest: −$3,641
• − Property taxes: −$1,387
• − Insurance: −$325
• − Repairs & maintenance: −$1,553
• − Management: −$1,553
• − Depreciation: −$1,891
• Taxable income: $9,061
• Est. tax owed @ 24.0%: −$2,175
• After-tax cash flow: $7,358/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

+276.3% since first listed

13 events — show timeline

• 2026-04-27 Listed $70,000 MiRealSource-MiMLS
• 2026-04-27 Listed $70,000 REALCOMP
• 2026-04-27 Listed $70,000 SW Michigan MLS
• 2020-03-20 Sold (MLS) $12,000 SW Michigan MLS
• 2020-03-20 Sold (MLS) $12,000 REALCOMP
• 2020-03-11 Pending — SW Michigan MLS
• 2020-03-09 Price Changed $12,500 SW Michigan MLS
• 2020-03-02 Price Changed $15,000 SW Michigan MLS
• 2020-02-28 Price Changed $18,000 SW Michigan MLS
• 2020-02-24 Listed $12,500 MiRealSource-MiMLS
• 2020-02-24 Listed $20,000 SW Michigan MLS
• 2020-02-24 Listed $12,500 REALCOMP
• 1989-12-15 Sold (Public Records) $18,600 Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,387 · +2.8% YoY. Source: county tax records.