1575 Park St · Muskegon, MI 49441

$129,900

3 bd · 2.0 ba · 1,578 sqft · SingleFamily public records · 79 Days on market

Built 1800 6,534 sqft lot Est $238k · 45% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +7.3/10.0
• 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

Nice investment opportunity in the City of Muskegon. Larger unit has 3 bedrooms and 1 bath and the lower unit has 2 bedrooms and 1 bath. Whether you're looking to launch your next venture or invest in a property with long-term upside, this site is ready for your vision. Buyer to verify all information.

Key facts

• 6,534 sq ft lot
• 2 parking spots
• Built 1800

Property features AI

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable connected; Phone available/connected; Sewer available
• Home design: Residential income property (multi-family)
• Construction: Wood siding exterior; Composition roof
• Exterior features: Paved road access

Interior

• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.7% 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: 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.
• Zoned schools: Muskegon Middle School (math 4% / reading 13%, grade F, #480 of 493 statewide, top 97%, 755 students, 87% FRL); Muskegon High School (math 8% / reading 27%, grade F, #632 of 713 statewide, top 89%, 1,039 students, 84% FRL) — zoned schools at 85% FRL track the district average.
• Market conditions: Rents rising fast (+18.1%/yr); 271 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $898 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 8 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.
• Current owner paid $83k; list at $130k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1800 — 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: 1.23% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.41%
• DSCR: 1.46
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $238,278
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314 W Southern Ave	0.16mi	4/1.5 (+1)	1,558 (-1%)	2mo	$141,400	$91	82
352 Mason Ave	0.25mi	3/2.5	1,456 (-8%)	2mo	$255,000	$175	72
817 W Dale Ave	0.45mi	3/1.0	1,672 (+6%)	1mo	$210,000	$126	64
213 Merrill Ave	0.52mi	3/2.5	1,482 (-6%)	3mo	$265,000	$179	61
209 Merrill Ave	0.52mi	3/2.5	1,482 (-6%)	6mo	$249,900	$169	58
593 W Webster Ave	0.43mi	2/2.5 (-1)	1,760 (+12%)	1mo	$356,000	$202	53
213 Washington Ave	0.32mi	4/1.0 (+1)	1,807 (+14%)	2mo	$149,000	$82	50
905 W Forest Ave	0.55mi	4/2.0 (+1)	1,414 (-10%)	5mo	$169,000	$120	48
2111 6th St	0.72mi	4/2.0 (+1)	1,452 (-8%)	4mo	$62,000	$43	45
1138 Sanford St	0.72mi	3/2.0	1,364 (-14%)	2mo	$215,000	$158	42
1936 Crowley St	0.64mi	3/1.0	1,388 (-12%)	6mo	$210,000	$151	41
1532 Leahy St	0.72mi	3/1.0	1,376 (-13%)	3mo	$118,850	$86	38

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: 5.0%
• Equity multiple: 1.21×
• Total profit: $7,514
• Equity at exit: $19,369

10-year hold

• IRR: 18.8%
• Equity multiple: 2.95×
• Total profit: $70,923
• Equity at exit: $11,231

Cash invested: $36,372 (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: 271
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,592 high
• Mortgage (P&I): −$681
• Tax from tax record: −$207 /mo · $2,480/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $316

Break-even live

Break-even rent $1,192

Max offer price $129,900

Occupancy floor 75%

Sensitivity live

Price	-10% $389	-5% $352	+0% $316	+5% $279	+10% $242
Rent	-10% $190	-5% $253	+0% $316	+5% $378	+10% $441
Rate	-1.0pp $381	-0.5pp $349	base $316	+0.5pp $282	+1.0pp $248

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
449 Washington Ave Muskegon, MI	3.0	2.0	1152	$1,695	$1.47	23d	1	0.16mi
1644 Beidler St Muskegon, MI	3.0	2.0	1228	$1,700	$1.38	23d	1	0.30mi
1633 Peck St Unit 1 Muskegon, MI	2.0	1.0	1184	$1,150	$0.97	23d	1	0.53mi
80 E Grand Ave Muskegon, MI	3.0	1.5	1200	$1,300	$1.08	23d	1	0.65mi
1206 Terrace St Unit 1 Muskegon, MI	2.0	1.0	1200	$1,975	$1.65	23d	1	0.85mi
2065 Dowd St Muskegon, MI	3.0	2.0	1228	$1,695	$1.38	23d	1	0.88mi
2073 Dowd St Muskegon, MI	3.0	2.5	1228	$1,750	$1.43	23d	1	0.90mi
292 W Western Ave Muskegon, MI	1.0–2.0	1.0–2.0	1062	$2,450	$2.31	23d	1	0.93mi
1188 Spring St Muskegon, MI	3.0	1.0	1443	$1,500	$1.04	23d	1	1.02mi
384 Iona Ave Muskegon, MI	3.0	1.0	1194	$1,275	$1.07	23d	1	1.22mi
310 Allen Ave Unit 2 Muskegon, MI	3.0	3.0	1100	$1,490	$1.35	23d	1	1.24mi
313 Orchard Ave Unit 1 Muskegon, MI	3.0	3.0	1121	$1,575	$1.40	23d	1	1.31mi
313 Orchard Ave Unit 2 Muskegon, MI	3.0	3.0	1279	$1,475	$1.15	23d	1	1.31mi

Listing history 38 events

1. 2026-06-21
   days on market $129,900 Active 79 DOM
2. 2026-06-19
   days on market $129,900 Active 77 DOM
3. 2026-06-18
   days on market $129,900 Active 76 DOM
4. 2026-06-17
   days on market $129,900 Active 75 DOM
5. 2026-06-16
   days on market $129,900 Active 74 DOM
6. 2026-06-15
   days on market $129,900 Active 73 DOM
7. 2026-06-14
   days on market $129,900 Active 71 DOM
8. 2026-06-13
   days on market $129,900 Active 70 DOM
9. 2026-06-10
   days on market $129,900 Active 68 DOM
10. 2026-06-09
    days on market $129,900 Active 67 DOM
11. 2026-06-08
    days on market $129,900 Active 66 DOM
12. 2026-06-07
    days on market $129,900 Active 65 DOM
13. 2026-06-05
    days on market $129,900 Active 62 DOM
14. 2026-06-03
    days on market $129,900 Active 61 DOM
15. 2026-06-02
    days on market $129,900 Active 60 DOM
16. 2026-06-01
    days on market $129,900 Active 59 DOM
17. 2026-05-31
    days on market $129,900 Active 58 DOM
18. 2026-05-30
    days on market $129,900 Active 57 DOM
19. 2026-05-01
    price $129,900 303-char remark

    Show marketing remark (303 chars)

    Nice investment opportunity in the City of Muskegon. Larger unit has 3 bedrooms and 1 bath and the lower unit has 2 bedrooms and 1 bath. Whether you're looking to launch your next venture or invest in a property with long-term upside, this site is ready for your vision. Buyer to verify all information.

20. 2026-05-01
    price $129,900

    Show marketing remark (303 chars)

    Nice investment opportunity in the City of Muskegon. Larger unit has 3 bedrooms and 1 bath and the lower unit has 2 bedrooms and 1 bath. Whether you're looking to launch your next venture or invest in a property with long-term upside, this site is ready for your vision. Buyer to verify all information.

21. 2026-04-21
    status Active

    Show marketing remark (303 chars)

    Nice investment opportunity in the City of Muskegon. Larger unit has 3 bedrooms and 1 bath and the lower unit has 2 bedrooms and 1 bath. Whether you're looking to launch your next venture or invest in a property with long-term upside, this site is ready for your vision. Buyer to verify all information.

22. 2026-04-21
    status Active 303-char remark

    Show marketing remark (303 chars)

    Nice investment opportunity in the City of Muskegon. Larger unit has 3 bedrooms and 1 bath and the lower unit has 2 bedrooms and 1 bath. Whether you're looking to launch your next venture or invest in a property with long-term upside, this site is ready for your vision. Buyer to verify all information.

23. 2026-04-07
    historical 303-char remark

    Show marketing remark (303 chars)

    Nice investment opportunity in the City of Muskegon. Larger unit has 3 bedrooms and 1 bath and the lower unit has 2 bedrooms and 1 bath. Whether you're looking to launch your next venture or invest in a property with long-term upside, this site is ready for your vision. Buyer to verify all information.

24. 2026-04-07
    historical

    Show marketing remark (303 chars)

    Nice investment opportunity in the City of Muskegon. Larger unit has 3 bedrooms and 1 bath and the lower unit has 2 bedrooms and 1 bath. Whether you're looking to launch your next venture or invest in a property with long-term upside, this site is ready for your vision. Buyer to verify all information.

25. 2026-03-20
    listed $134,000 Active 303-char remark

    Show marketing remark (303 chars)

    Nice investment opportunity in the City of Muskegon. Larger unit has 3 bedrooms and 1 bath and the lower unit has 2 bedrooms and 1 bath. Whether you're looking to launch your next venture or invest in a property with long-term upside, this site is ready for your vision. Buyer to verify all information.

26. 2026-03-20
    listed $134,000 Active

    Show marketing remark (303 chars)

    Nice investment opportunity in the City of Muskegon. Larger unit has 3 bedrooms and 1 bath and the lower unit has 2 bedrooms and 1 bath. Whether you're looking to launch your next venture or invest in a property with long-term upside, this site is ready for your vision. Buyer to verify all information.

27. 2026-03-13
    historical
28. 2025-10-14
    price $134,000
29. 2025-10-14
    price $134,000
30. 2025-09-04
    listed $148,000 Active
31. 2025-09-04
    listed $148,000 Active
32. 2021-02-16
    soldstatus $83,400
33. 2020-10-29
    soldstatus $57,620
34. 2013-06-06
    historical
35. 2013-02-22
    listed $9,900
36. 2004-11-23
    soldstatus $45,000
37. 2003-04-23
    soldstatus $19,000
38. 2003-03-20
    listed $18,900

ⓘ 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: $2,480 · $207/mo
• Projected year-2 tax: $2,480 · $207/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: $19,103
• − Mortgage interest: −$7,276
• − Property taxes: −$2,480
• − Insurance: −$650
• − Repairs & maintenance: −$1,528
• − Management: −$1,528
• − Depreciation: −$3,779
• Taxable income: $1,861
• Est. tax owed @ 24.0%: −$447
• After-tax cash flow: $3,340/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: 26,372
• 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

+587.3% since first listed

20 events — show timeline

• 2026-05-01 Price Changed $129,900 MiRealSource-MiMLS
• 2026-05-01 Price Changed $129,900 REALCOMP
• 2026-04-21 Relisted — REALCOMP
• 2026-04-21 Relisted — MiRealSource-MiMLS
• 2026-04-07 Listing Removed — REALCOMP
• 2026-04-07 Listing Removed — MiRealSource-MiMLS
• 2026-03-20 Listed $134,000 REALCOMP
• 2026-03-20 Listed $134,000 MiRealSource-MiMLS
• 2026-03-13 Listing Removed — MiRealSource-MiMLS
• 2025-10-14 Price Changed $134,000 MiRealSource-MiMLS
• 2025-10-14 Price Changed $134,000 REALCOMP
• 2025-09-04 Listed $148,000 REALCOMP
• 2025-09-04 Listed $148,000 MiRealSource-MiMLS
• 2021-02-16 Sold (Public Records) $83,400 Public Records
• 2020-10-29 Sold (Public Records) $57,620 Public Records
• 2013-06-06 Listing Removed — SW Michigan MLS
• 2013-02-22 Listed $9,900 SW Michigan MLS
• 2004-11-23 Sold (Public Records) $45,000 Public Records
• 2003-04-23 Sold (MLS) $19,000 SW Michigan MLS
• 2003-03-20 Listed $18,900 SW Michigan MLS

Property tax history

+4.7%/yr

Latest (2025): $2,480 · +2.2% YoY. Source: county tax records.