3376 Lemuel St · Muskegon Heights, MI 49444

$130,000

2 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 80 Days on market

Built 1950 6,229 sqft lot Est $114k · 14% 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 +15.8/30.0
• Schools +5.0/10.0
• DSCR +4.9/10.0
• 1% rule +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.2/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is a move in ready home with 2 bedrooms on the main floor and 2 good size rooms upstairs. This home is in a great location near shopping and all that Norton and Henry have to offer. With new flooring in the kitchen/dining room and original hard wood floors on the main, with a large fenced back yard and ample off road parking. Call today to get your private showing before this one is gone!

Key facts

• Fenced back yard
• Great location
• New flooring

Tags

• GREAT LOCATION
• NEW FLOORING
• FENCED BACK YARD
• AMPLE OFF ROAD PARKING

Property features AI

Exterior

• Utilities: Natural gas available and connected; Electricity available; Natural gas water heater
• Home design: Traditional single-family home; One-story (implied by living area and total rooms)
• Construction: Built in 1950; Vinyl siding; Composition roof; Full basement
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Seven total rooms; Replacement windows with screens

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $59 ($703/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 $110k (15.5% below list).
• Recommended offer: $110k (15.5% below list) — sets the bar for 1% rule.

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: 237 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $899 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.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 6 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.
• Current owner paid $31k; list at $130k implies a 321% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $109,801 (15.5% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.93%
• DSCR: 1.09
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $114,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
375 W Maplewood Ave	0.23mi	3/1.0 (+1)	984 (-2%)	2mo	$105,894	$108	80
3109 Temple St	0.34mi	3/1.0 (+1)	1,006 (+1%)	4mo	$118,000	$117	75
3354 Highland St	0.35mi	3/1.0 (+1)	1,068 (+7%)	6mo	$129,900	$122	62
3031 Lemuel St	0.42mi	3/1.0 (+1)	1,056 (+6%)	7mo	$129,000	$122	60
356 Amsterdam Ave	0.37mi	2/1.0	876 (-12%)	3mo	$99,900	$114	60
3116 Temple St	0.32mi	2/1.0	880 (-12%)	6mo	$110,000	$125	60
3301 7th St	0.41mi	2/1.0	880 (-12%)	2mo	$82,000	$93	60
3321 Waalkes St	0.16mi	3/1.0 (+1)	864 (-14%)	7mo	$134,000	$155	59
2933 6th St	0.66mi	2/1.0	1,044 (+4%)	8mo	$27,000	$26	56
3330 6th St	0.46mi	2/1.0	856 (-14%)	7mo	$74,900	$88	49
3012 6th St	0.63mi	2/1.0	884 (-12%)	7mo	$69,000	$78	45
111 Rotterdam Ave	0.66mi	3/1.0 (+1)	1,140 (+14%)	2mo	$22,000	$19	39

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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-17,373
• Equity at exit: $19,383

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-10,479
• Equity at exit: $11,240

Cash invested: $36,400 (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: 237
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,098 high
• Mortgage (P&I): −$682
• Tax from tax record: −$73 /mo · $875/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $59

Break-even live

Break-even rent $1,024

Max offer price $130,000

Occupancy floor 90%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3040 Temple St Muskegon, MI	2.0	1.0	900	$1,150	$1.28	21d	1	0.39mi
3041 Lemuel St Muskegon, MI	3.0	1.0	872	$1,195	$1.37	21d	1	0.39mi
889 Woodside Rd Unit 36 Muskegon, MI	2.0	1.0	880	$1,125	$1.28	43d	1	0.45mi
2901 Temple St Unit 1 Muskegon Heights, MI	2.0	1.0	850	$1,095	$1.29	43d	1	0.59mi
232 E Lincoln Ave Muskegon, MI	2.0	1.0	1020	$1,100	$1.08	21d	1	1.05mi

Listing history 26 events

1. 2026-06-19
   days on market $130,000 Active 80 DOM
2. 2026-06-18
   days on market $130,000 Active 79 DOM
3. 2026-06-17
   days on market $130,000 Active 78 DOM
4. 2026-06-16
   days on market $130,000 Active 77 DOM
5. 2026-06-15
   days on market $130,000 Active 76 DOM
6. 2026-06-14
   days on market $130,000 Active 74 DOM
7. 2026-06-13
   days on market $130,000 Active 73 DOM
8. 2026-06-10
   days on market $130,000 Active 71 DOM
9. 2026-06-09
   days on market $130,000 Active 70 DOM
10. 2026-06-08
    days on market $130,000 Active 69 DOM
11. 2026-06-07
    days on market $130,000 Active 68 DOM
12. 2026-06-02
    days on market $130,000 Active 63 DOM
13. 2026-06-01
    days on market $130,000 Active 62 DOM
14. 2026-05-31
    days on market $130,000 Active 61 DOM
15. 2026-05-30
    days on market $130,000 Active 60 DOM
16. 2026-04-11
    status Active 396-char remark

    Show marketing remark (396 chars)

    Here is a move in ready home with 2 bedrooms on the main floor and 2 good size rooms upstairs. This home is in a great location near shopping and all that Norton and Henry have to offer. With new flooring in the kitchen/dining room and original hard wood floors on the main, with a large fenced back yard and ample off road parking. Call today to get your private showing before this one is gone!

17. 2026-04-11
    status Active 396-char remark

    Show marketing remark (396 chars)

    Here is a move in ready home with 2 bedrooms on the main floor and 2 good size rooms upstairs. This home is in a great location near shopping and all that Norton and Henry have to offer. With new flooring in the kitchen/dining room and original hard wood floors on the main, with a large fenced back yard and ample off road parking. Call today to get your private showing before this one is gone!

18. 2026-04-11
    status Active

    Show marketing remark (396 chars)

    Here is a move in ready home with 2 bedrooms on the main floor and 2 good size rooms upstairs. This home is in a great location near shopping and all that Norton and Henry have to offer. With new flooring in the kitchen/dining room and original hard wood floors on the main, with a large fenced back yard and ample off road parking. Call today to get your private showing before this one is gone!

19. 2026-04-06
    status Pending 396-char remark

    Show marketing remark (396 chars)

    Here is a move in ready home with 2 bedrooms on the main floor and 2 good size rooms upstairs. This home is in a great location near shopping and all that Norton and Henry have to offer. With new flooring in the kitchen/dining room and original hard wood floors on the main, with a large fenced back yard and ample off road parking. Call today to get your private showing before this one is gone!

20. 2026-04-06
    status Pending 396-char remark

    Show marketing remark (396 chars)

    Here is a move in ready home with 2 bedrooms on the main floor and 2 good size rooms upstairs. This home is in a great location near shopping and all that Norton and Henry have to offer. With new flooring in the kitchen/dining room and original hard wood floors on the main, with a large fenced back yard and ample off road parking. Call today to get your private showing before this one is gone!

21. 2026-04-06
    status Pending

    Show marketing remark (396 chars)

    Here is a move in ready home with 2 bedrooms on the main floor and 2 good size rooms upstairs. This home is in a great location near shopping and all that Norton and Henry have to offer. With new flooring in the kitchen/dining room and original hard wood floors on the main, with a large fenced back yard and ample off road parking. Call today to get your private showing before this one is gone!

22. 2026-03-23
    listed $130,000 Active 396-char remark

    Show marketing remark (396 chars)

    Here is a move in ready home with 2 bedrooms on the main floor and 2 good size rooms upstairs. This home is in a great location near shopping and all that Norton and Henry have to offer. With new flooring in the kitchen/dining room and original hard wood floors on the main, with a large fenced back yard and ample off road parking. Call today to get your private showing before this one is gone!

23. 2026-03-23
    listed $130,000 Active 396-char remark

    Show marketing remark (396 chars)

    Here is a move in ready home with 2 bedrooms on the main floor and 2 good size rooms upstairs. This home is in a great location near shopping and all that Norton and Henry have to offer. With new flooring in the kitchen/dining room and original hard wood floors on the main, with a large fenced back yard and ample off road parking. Call today to get your private showing before this one is gone!

24. 2026-03-23
    listed $130,000 Active

    Show marketing remark (396 chars)

    Here is a move in ready home with 2 bedrooms on the main floor and 2 good size rooms upstairs. This home is in a great location near shopping and all that Norton and Henry have to offer. With new flooring in the kitchen/dining room and original hard wood floors on the main, with a large fenced back yard and ample off road parking. Call today to get your private showing before this one is gone!

25. 2022-03-17
    price $950
26. 1989-08-29
    soldstatus $30,900

ⓘ 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: $875 · $73/mo
• Projected year-2 tax: $1,439 · $120/mo
• Expected delta: +$563/yr (+$47/mo · 64.4%)

ⓘ 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: $13,176
• − Mortgage interest: −$7,282
• − Property taxes: −$875
• − Insurance: −$650
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$3,782
• Taxable loss: −$1,521
• Est. tax savings @ 24.0%: +$365
• After-tax cash flow: $1,068/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

+320.7% since first listed

11 events — show timeline

• 2026-04-11 Relisted — MiRealSource-MiMLS
• 2026-04-11 Relisted — REALCOMP
• 2026-04-11 Relisted — SW Michigan MLS
• 2026-04-06 Pending — REALCOMP
• 2026-04-06 Pending — MiRealSource-MiMLS
• 2026-04-06 Pending — SW Michigan MLS
• 2026-03-23 Listed $130,000 SW Michigan MLS
• 2026-03-23 Listed $130,000 REALCOMP
• 2026-03-23 Listed $130,000 MiRealSource-MiMLS
• 2022-03-17 Price Changed $950 RENT.
• 1989-08-29 Sold (Public Records) $30,900 Public Records

Property tax history

-1.2%/yr

Latest (2025): $875 · +2.8% YoY. Source: county tax records.