205 S Buys Rd · North Muskegon, MI 49445

$225,000

3 bd · 1.5 ba · 1,600 sqft · SingleFamily public records · 4 Days on market

Built 1960 0.29 ac lot Est $232k · at est.

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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 +24.7/30.0
• Appreciation +10.0/10.0
• ARV discount +8.9/15.0
• DSCR +8.0/10.0
• 1% rule +5.2/10.0
• Livability +3.9/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

You don't want to miss this solid, mid-century brick ranch! Situated on a large corner lot, just blocks from Muskegon Lake & Bear Lake, this home is in a prime location for outdoor lovers! Features include, three bedrooms, one bath, family room with wood burning fire place, an extra-large living room, & two-stall garage. The large, full basement has tall ceilings and can easily be fully finished for double the living space. This home has been untouched by flippers and bad DIY and is ready for your personal touches! All major mechanical systems of the home have all been recently updated including the furnace, PEX plumbing, and electric service to the home. OPEN HOUSE SATURDAY 5/23, 10-11:30 am.

Key facts

• Large corner lot
• Tall ceilings
• Furnace

Tags

• MID-CENTURY BRICK RANCH
• LARGE CORNER LOT
• EXTRA-LARGE LIVING ROOM
• LARGE FULL BASEMENT
• TALL CEILINGS
• FURNACE

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Well water; Natural gas connected and available; Electricity available; Natural gas water heater
• Home design: Ranch-style single family home; Built in 1960; Entry level not specified; Facing direction not specified
• Construction: Brick construction; Composition roof; Full basement (foundation)
• Exterior features: Corner lot; Recreational lot features; Shed(s); Paved road access

Interior

• Kitchen: Range; Microwave; Refrigerator; Eat-in kitchen
• Bedrooms: Primary bedroom; Two additional bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Has heating; Has cooling
• Interior features: Garage door opener; Eat-in kitchen; Wood-burning fireplace; Window treatments; Full basement; Six total rooms (including living, family, dining areas)
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Cap rate 8.8% vs local median 4.1% in North 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 77/100 on livability (#129 in MI, #3,195 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety 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 4 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.
• Current owner paid $110k; list at $225k implies a 105% gain — meaningful room to come down on a strong offer.

Recommended offer $225,000

Questions for the listing agent

1. Built in 1960 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.02% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.98%
• DSCR: 1.40
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $232,000
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
660 S Buys Rd	0.04mi	3/1.5	1,624 (+2%)	5mo	$220,000	$135	92
135 California Ave	0.18mi	3/2.5	1,703 (+6%)	8mo	$320,000	$188	70
428 Oaknoll Dr	0.57mi	3/2.0	1,608 (+0%)	3mo	$205,000	$127	68
233 Mcconnell Ave	0.29mi	3/2.0	1,682 (+5%)	10mo	$268,000	$159	68
2587 Pennsylvania Ave	0.29mi	2/1.5 (-1)	1,486 (-7%)	12mo	$201,022	$135	60
2460 Memorial Dr	0.20mi	4/1.5 (+1)	1,381 (-14%)	18mo	$200,000	$145	47
258 N Buys Rd	0.66mi	4/2.0 (+1)	1,679 (+5%)	9mo	$280,000	$167	46

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: 30.8%
• Equity multiple: 3.42×
• Total profit: $152,462
• Equity at exit: $202,698

10-year hold

• IRR: 26.7%
• Equity multiple: 7.75×
• Total profit: $425,179
• Equity at exit: $437,126

Cash invested: $63,000 (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: 8.2×

Monthly cashflow live

• Estimated rent: $2,295 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$68 /mo · $817/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $471

Break-even live

Break-even rent $1,698

Max offer price $225,000

Occupancy floor 74%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
755 Oakmere Pl Muskegon, MI	4.0	1.5	1794	$2,295	$1.28	44d	1	1.16mi

Listing history 12 events

1. 2026-05-21
   listed $225,000 Active 716-char remark

   Show marketing remark (713 chars)

   You don't want to miss this solid, mid-century brick ranch! Situated on a large corner lot, just blocks from Muskegon Lake & Bear Lake, this home is in a prime location for outdoor lovers! Features include, three bedrooms, one bath, family room with wood burning fire place, an extra-large living room, & two-stall garage. The large, full basement has tall ceilings and can easily be fully finished for double the living space. This home has been untouched by flippers and bad DIY and is ready for your personal touches! All major mechanical systems of the home have all been recently updated including the furnace, PEX plumbing, and electric service to the home. OPEN HOUSE SATURDAY 5/23, 10-11:30 am.

2. 2026-05-21
   listed $225,000 Active 713-char remark

   Show marketing remark (713 chars)

   You don't want to miss this solid, mid-century brick ranch! Situated on a large corner lot, just blocks from Muskegon Lake & Bear Lake, this home is in a prime location for outdoor lovers! Features include, three bedrooms, one bath, family room with wood burning fire place, an extra-large living room, & two-stall garage. The large, full basement has tall ceilings and can easily be fully finished for double the living space. This home has been untouched by flippers and bad DIY and is ready for your personal touches! All major mechanical systems of the home have all been recently updated including the furnace, PEX plumbing, and electric service to the home. OPEN HOUSE SATURDAY 5/23, 10-11:30 am.

3. 2026-05-21
   listed $225,000 Active

   Show marketing remark (713 chars)

   You don't want to miss this solid, mid-century brick ranch! Situated on a large corner lot, just blocks from Muskegon Lake & Bear Lake, this home is in a prime location for outdoor lovers! Features include, three bedrooms, one bath, family room with wood burning fire place, an extra-large living room, & two-stall garage. The large, full basement has tall ceilings and can easily be fully finished for double the living space. This home has been untouched by flippers and bad DIY and is ready for your personal touches! All major mechanical systems of the home have all been recently updated including the furnace, PEX plumbing, and electric service to the home. OPEN HOUSE SATURDAY 5/23, 10-11:30 am.

4. 2017-06-02
   soldstatus $110,000
5. 2017-06-02
   soldstatus $110,000 Sold
6. 2017-04-25
   historical
7. 2017-04-25
   listed $110,000
8. 2017-04-25
   listed $110,000
9. 2003-08-15
   soldstatus $114,900
10. 2003-08-15
    soldstatus $114,900
11. 2003-04-19
    listed $114,900
12. 2003-04-19
    listed $114,900

ⓘ 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: $817 · $68/mo
• Projected year-2 tax: $2,141 · $178/mo
• Expected delta: +$1,324/yr (+$110/mo · 162.1%)

ⓘ 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 1/10 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: $27,540
• − Mortgage interest: −$12,603
• − Property taxes: −$817
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,203
• − Management: −$2,203
• − Depreciation: −$6,545
• Taxable income: $2,043
• Est. tax owed @ 24.0%: −$490
• After-tax cash flow: $5,165/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 — North Muskegon

• Score: 77/100
• State rank: #129
• US rank: #3195

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• 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

+95.8% since first listed

12 events — show timeline

• 2026-05-21 Listed $225,000 SW Michigan MLS
• 2026-05-21 Listed $225,000 MiRealSource-MiMLS
• 2026-05-21 Listed $225,000 REALCOMP
• 2017-06-02 Sold (MLS) $110,000 SW Michigan MLS
• 2017-06-02 Sold (MLS) $110,000 REALCOMP
• 2017-04-25 Listing Removed — SW Michigan MLS
• 2017-04-25 Listed $110,000 SW Michigan MLS
• 2017-04-25 Listed $110,000 REALCOMP
• 2003-08-15 Sold (MLS) $114,900 REALCOMP
• 2003-08-15 Sold (MLS) $114,900 SW Michigan MLS
• 2003-04-19 Listed $114,900 REALCOMP
• 2003-04-19 Listed $114,900 SW Michigan MLS

Property tax history

-5.7%/yr

Latest (2025): $817 · -61.5% YoY. Source: county tax records.