2525 & 2529 Riordan St · Muskegon Heights, MI 49444

$90,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 426 Days on market

Built 1925 6,098 sqft lot Est $98k · 8% 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 +11.1/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• 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

This three bedroom home boasts excellent curb appeal and is ready for your personal touch. The living room flows into the dining room, creating an open and inviting living space. The laundry room and wet bar are conveniently located in the partial basement. You can relax in the privacy of he enclosed front porch or enjoy the covered patio and spacious fenced-in yard, which includes a shed and a detached garage. Please note that this home is being sold as is, where is.

Key facts

• Wet bar
• Laundry room
• Covered patio

Tags

• OPEN LIVING SPACE
• LAUNDRY ROOM
• WET BAR
• ENCLOSED FRONT PORCH
• COVERED PATIO
• FENCED-IN YARD

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water; Natural gas available and connected; Electricity available; Cable connected
• Home design: Ranch-style single-family home; Built in 1925; Living area approximately 1008
• Construction: Wood siding construction
• Exterior features: Paved road access; Sidewalk; Shed(s) on the lot

Interior

• Kitchen: Eat-in kitchen (12 x 13)
• Bedrooms: Primary bedroom (10 x 10); Bedroom 2 (10 x 8); Bedroom 3 (10 x 9)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Storm windows; Window treatments; Partial basement; 6 total rooms
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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: 237 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $622 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 + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 426 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $25k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 426 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.34% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.68%
• DSCR: 1.79
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $97,776
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2425 Wood St	0.14mi	2/1.5 (-1)	1,035 (+3%)	3mo	$10,100	$10	80
2233 Mcilwraith St	0.41mi	2/1.0 (-1)	994 (-1%)	5mo	$112,000	$113	70
2618 Hoyt St	0.19mi	3/1.0	878 (-13%)	1mo	$74,900	$85	69
2237 Wood St	0.35mi	2/1.5 (-1)	974 (-3%)	4mo	$99,900	$103	68
2513 5th St	0.64mi	3/1.0	980 (-3%)	4mo	$50,000	$51	63
3044 Morton Ave	0.63mi	2/1.0 (-1)	984 (-2%)	3mo	$95,000	$97	59
2109 Hoyt St	0.57mi	3/1.0	1,128 (+12%)	1mo	$111,137	$99	53
2304 Dyson St	0.46mi	3/1.0	864 (-14%)	3mo	$49,000	$57	53
238 Harrison Blvd	0.48mi	2/1.0 (-1)	1,132 (+12%)	3mo	$84,460	$75	50
2124 Jefferson St	0.74mi	3/1.0	1,080 (+7%)	5mo	$122,000	$113	50
2933 Baker St	0.61mi	2/1.0 (-1)	900 (-11%)	1mo	$111,000	$123	48
3017 Merriam St	0.68mi	2/1.0 (-1)	864 (-14%)	5mo	$49,900	$58	35

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: 9.1%
• Equity multiple: 1.36×
• Total profit: $9,055
• Equity at exit: $13,419

10-year hold

• IRR: 18.3%
• Equity multiple: 2.52×
• Total profit: $38,302
• Equity at exit: $7,782

Cash invested: $25,200 (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: 237
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,204 high
• Mortgage (P&I): −$472
• Tax from tax record: −$70 /mo · $844/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $371

Break-even live

Break-even rent $734

Max offer price $90,000

Occupancy floor 64%

Sensitivity live

Price	-10% $422	-5% $397	+0% $371	+5% $346	+10% $320
Rent	-10% $276	-5% $324	+0% $371	+5% $419	+10% $466
Rate	-1.0pp $417	-0.5pp $394	base $371	+0.5pp $348	+1.0pp $324

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 E Lincoln Ave Muskegon, MI	2.0	1.0	1020	$1,100	$1.08	22d	1	0.68mi
2901 Temple St Unit 1 Muskegon Heights, MI	2.0	1.0	850	$1,095	$1.29	44d	1	1.17mi
1633 Peck St Unit 1 Muskegon, MI	2.0	1.0	1184	$1,150	$0.97	22d	1	1.24mi
3040 Temple St Muskegon, MI	2.0	1.0	900	$1,150	$1.28	22d	1	1.24mi
3223 Bailey St Norton Shores, MI	2.0–3.0	2.0	1096	$1,319	$1.20	22d	1	1.30mi
3041 Lemuel St Muskegon, MI	3.0	1.0	872	$1,195	$1.37	22d	1	1.32mi
80 E Grand Ave Muskegon, MI	3.0	1.5	1200	$1,300	$1.08	22d	1	1.39mi

Listing history 13 events

1. 2026-05-11
   status Pending 472-char remark

   Show marketing remark (472 chars)

   This three bedroom home boasts excellent curb appeal and is ready for your personal touch. The living room flows into the dining room, creating an open and inviting living space. The laundry room and wet bar are conveniently located in the partial basement. You can relax in the privacy of he enclosed front porch or enjoy the covered patio and spacious fenced-in yard, which includes a shed and a detached garage. Please note that this home is being sold as is, where is.

2. 2026-05-11
   status Pending 472-char remark

   Show marketing remark (472 chars)

   This three bedroom home boasts excellent curb appeal and is ready for your personal touch. The living room flows into the dining room, creating an open and inviting living space. The laundry room and wet bar are conveniently located in the partial basement. You can relax in the privacy of he enclosed front porch or enjoy the covered patio and spacious fenced-in yard, which includes a shed and a detached garage. Please note that this home is being sold as is, where is.

3. 2026-05-11
   status Pending

   Show marketing remark (472 chars)

   This three bedroom home boasts excellent curb appeal and is ready for your personal touch. The living room flows into the dining room, creating an open and inviting living space. The laundry room and wet bar are conveniently located in the partial basement. You can relax in the privacy of he enclosed front porch or enjoy the covered patio and spacious fenced-in yard, which includes a shed and a detached garage. Please note that this home is being sold as is, where is.

4. 2026-01-07
   price $90,000 472-char remark

   Show marketing remark (472 chars)

   This three bedroom home boasts excellent curb appeal and is ready for your personal touch. The living room flows into the dining room, creating an open and inviting living space. The laundry room and wet bar are conveniently located in the partial basement. You can relax in the privacy of he enclosed front porch or enjoy the covered patio and spacious fenced-in yard, which includes a shed and a detached garage. Please note that this home is being sold as is, where is.

5. 2026-01-07
   price $90,000 472-char remark

   Show marketing remark (472 chars)

   This three bedroom home boasts excellent curb appeal and is ready for your personal touch. The living room flows into the dining room, creating an open and inviting living space. The laundry room and wet bar are conveniently located in the partial basement. You can relax in the privacy of he enclosed front porch or enjoy the covered patio and spacious fenced-in yard, which includes a shed and a detached garage. Please note that this home is being sold as is, where is.

6. 2026-01-07
   price $90,000

   Show marketing remark (472 chars)

   This three bedroom home boasts excellent curb appeal and is ready for your personal touch. The living room flows into the dining room, creating an open and inviting living space. The laundry room and wet bar are conveniently located in the partial basement. You can relax in the privacy of he enclosed front porch or enjoy the covered patio and spacious fenced-in yard, which includes a shed and a detached garage. Please note that this home is being sold as is, where is.

7. 2025-03-11
   listed $115,000 Active 472-char remark

   Show marketing remark (472 chars)

   This three bedroom home boasts excellent curb appeal and is ready for your personal touch. The living room flows into the dining room, creating an open and inviting living space. The laundry room and wet bar are conveniently located in the partial basement. You can relax in the privacy of he enclosed front porch or enjoy the covered patio and spacious fenced-in yard, which includes a shed and a detached garage. Please note that this home is being sold as is, where is.

8. 2025-03-11
   listed $115,000 Active 472-char remark

   Show marketing remark (472 chars)

   This three bedroom home boasts excellent curb appeal and is ready for your personal touch. The living room flows into the dining room, creating an open and inviting living space. The laundry room and wet bar are conveniently located in the partial basement. You can relax in the privacy of he enclosed front porch or enjoy the covered patio and spacious fenced-in yard, which includes a shed and a detached garage. Please note that this home is being sold as is, where is.

9. 2025-03-11
   listed $115,000 Active

   Show marketing remark (472 chars)

   This three bedroom home boasts excellent curb appeal and is ready for your personal touch. The living room flows into the dining room, creating an open and inviting living space. The laundry room and wet bar are conveniently located in the partial basement. You can relax in the privacy of he enclosed front porch or enjoy the covered patio and spacious fenced-in yard, which includes a shed and a detached garage. Please note that this home is being sold as is, where is.

10. 2016-03-04
    historical
11. 2016-03-03
    historical
12. 2015-09-11
    listed $32,500 Active
13. 2015-09-03
    listed $32,500

ⓘ 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: $844 · $70/mo
• Projected year-2 tax: $1,115 · $93/mo
• Expected delta: +$271/yr (+$23/mo · 32.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,447
• − Mortgage interest: −$5,041
• − Property taxes: −$844
• − Insurance: −$450
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$2,618
• Taxable income: $3,182
• Est. tax owed @ 24.0%: −$764
• After-tax cash flow: $3,692/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

+176.9% since first listed

13 events — show timeline

• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-11 Pending — REALCOMP
• 2026-05-11 Pending — SW Michigan MLS
• 2026-01-07 Price Changed $90,000 MiRealSource-MiMLS
• 2026-01-07 Price Changed $90,000 REALCOMP
• 2026-01-07 Price Changed $90,000 SW Michigan MLS
• 2025-03-11 Listed $115,000 SW Michigan MLS
• 2025-03-11 Listed $115,000 REALCOMP
• 2025-03-11 Listed $115,000 MiRealSource-MiMLS
• 2016-03-04 Listing Removed — SW Michigan MLS
• 2016-03-03 Listing Removed — REALCOMP
• 2015-09-11 Listed $32,500 SW Michigan MLS
• 2015-09-03 Listed $32,500 REALCOMP

Property tax history

-0.6%/yr

Latest (2025): $844 · +2.8% YoY. Source: county tax records.