1872 Commerce St · Muskegon, MI 49441

$139,900

3 bd · 1.0 ba · 1,184 sqft · SingleFamily public records · 13 Days on market

Built 1950 6,229 sqft lot Est $154k · 9% under

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Why this score? — see what drove the C+ 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 +23.4/30.0
• ARV discount +11.6/15.0
• DSCR +7.5/10.0
• 1% rule +5.5/10.0
• 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

This charming 2-story traditional has been fully renovated and is move-in ready! Offering 4 bedrooms, 1 full bath, and 1,184 sq ft of finished living space, this home is packed with value. The main level features a primary bedroom option, main-level laundry, and an efficient forced air/natural gas heating system. Brand new roof installed in 2026 means one of the biggest ticket items is already done for you! Situated on a nice corner lot (50x124) with a concrete driveway and detached garage, there's plenty of room to spread out. Public water and sewer and vinyl siding round out this low-maintenance package. Located in Muskegon city limits near Laketon -- convenient to shopping, dining, and Lake Michigan. Don't miss this affordable opportunity!

Key facts

• Fully renovated
• Brand new roof
• Main level laundry

Tags

• FULLY RENOVATED
• MAIN LEVEL LAUNDRY
• EFFICIENT FORCED AIR HEATING
• BRAND NEW ROOF
• CONCRETE DRIVEWAY
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Natural gas (water heater)
• Home design: Traditional style single-family residence; Public water
• Construction: Built in 1950; Vinyl siding; Composition roof
• Exterior features: Corner lot; Paved road access

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: 8 total rooms; Crawl space basement
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Cap rate 8.5% vs local median 4.6% 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: schools D-, 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.
• Market conditions: Rents rising fast (+18.1%/yr); 268 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $967 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 $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 17 sale attempts since 20y 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 $39k; list at $140k implies a 262% 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 $139,900

Questions for the listing agent

1. Built in 1950 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.94%
• DSCR: 1.35
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $153,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1699 Sanford St	0.27mi	3/2.0	1,176 (-1%)	1mo	$159,000	$135	81
1499 Park St	0.54mi	3/1.0	1,186 (+0%)	0mo	$150,048	$127	74
2017 7th St	0.25mi	3/2.0	1,092 (-8%)	0mo	$126,400	$116	71
262 W Forest Ave	0.34mi	2/1.0 (-1)	1,127 (-5%)	5mo	$160,000	$142	67
1471 Leahy St	0.65mi	3/1.0	1,161 (-2%)	1mo	$166,500	$143	65
2109 Hoyt St	0.57mi	3/1.0	1,128 (-5%)	1mo	$111,137	$99	65
1969 Hoyt St	0.49mi	3/1.0	1,040 (-12%)	0mo	$92,500	$89	56
1560 6th St	0.40mi	2/1.0 (-1)	1,040 (-12%)	0mo	$89,000	$86	56
329 W Forest Ave	0.34mi	2/1.0 (-1)	1,008 (-15%)	1mo	$131,000	$130	53
1346 5th St	0.66mi	3/1.0	1,078 (-9%)	2mo	$75,000	$70	52
1907 Terrace St	0.62mi	4/2.0 (+1)	1,080 (-9%)	3mo	$170,000	$157	45
1875 Henry St	0.71mi	3/2.0	1,310 (+11%)	3mo	$199,900	$153	43

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,613
• Equity at exit: $20,860

10-year hold

• IRR: 15.0%
• Equity multiple: 2.48×
• Total profit: $58,043
• Equity at exit: $12,096

Cash invested: $39,172 (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: 268
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,474 high
• Mortgage (P&I): −$734
• Tax from tax record: −$113 /mo · $1,355/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $259

Break-even live

Break-even rent $1,145

Max offer price $139,900

Occupancy floor 77%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1633 Peck St Unit 1 Muskegon, MI	2.0	1.0	1184	$1,150	$0.97	21d	1	0.40mi
80 E Grand Ave Muskegon, MI	3.0	1.5	1200	$1,300	$1.08	21d	1	0.62mi
449 Washington Ave Muskegon, MI	3.0	2.0	1152	$1,695	$1.47	21d	1	0.64mi
1644 Beidler St Muskegon, MI	3.0	2.0	1228	$1,700	$1.38	21d	1	0.68mi
488 W Muskegon Ave Muskegon, MI	2.0	1.0	1008	$1,150	$1.14	21d	1	0.91mi
1206 Terrace St Unit 1 Muskegon, MI	2.0	1.0	1200	$1,975	$1.65	21d	1	0.96mi
2065 Dowd St Muskegon, MI	3.0	2.0	1228	$1,695	$1.38	21d	1	0.96mi
2073 Dowd St Muskegon, MI	3.0	2.5	1228	$1,750	$1.43	21d	1	0.97mi
1188 Spring St Muskegon, MI	3.0	1.0	1443	$1,500	$1.04	21d	1	1.08mi
1101 Spring St Muskegon, MI	2.0	1.0	700	$1,100	$1.57	21d	1	1.11mi
122 W Muskegon Ave Muskegon, MI	2.0	2.0	856	$795	$0.93	21d	1	1.23mi
384 Iona Ave Muskegon, MI	3.0	1.0	1194	$1,275	$1.07	21d	1	1.29mi
292 W Western Ave Muskegon, MI	1.0–2.0	1.0–2.0	1062	$2,450	$2.31	21d	1	1.32mi
2901 Temple St Unit 1 Muskegon Heights, MI	2.0	1.0	850	$1,095	$1.29	43d	1	1.35mi
310 Allen Ave Unit 2 Muskegon, MI	3.0	3.0	1100	$1,490	$1.35	21d	1	1.37mi
313 Orchard Ave Unit 1 Muskegon, MI	3.0	3.0	1121	$1,575	$1.40	21d	1	1.46mi
313 Orchard Ave Unit 2 Muskegon, MI	3.0	3.0	1279	$1,475	$1.15	21d	1	1.46mi

Listing history 12 events

1. 2026-06-19
   days on market $139,900 Active 13 DOM
2. 2026-06-18
   days on market $139,900 Active 12 DOM
3. 2026-06-17
   days on market $139,900 Active 11 DOM
4. 2026-06-16
   days on market $139,900 Active 10 DOM
5. 2026-06-15
   days on market $139,900 Active 9 DOM
6. 2026-06-14
   days on market $139,900 Active 7 DOM
7. 2026-06-13
   days on market $139,900 Active 6 DOM
8. 2026-06-10
   days on market $139,900 Active 4 DOM
9. 2026-06-09
   days on market $139,900 Active 3 DOM
10. 2026-06-08
    days on market $139,900 Active 2 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $139,900 Active 1 DOM

ⓘ 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: $1,355 · $113/mo
• Projected year-2 tax: $1,754 · $146/mo
• Expected delta: +$400/yr (+$33/mo · 29.5%)

ⓘ 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) · 21% 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: $17,682
• − Mortgage interest: −$7,837
• − Property taxes: −$1,355
• − Insurance: −$700
• − Repairs & maintenance: −$1,415
• − Management: −$1,415
• − Depreciation: −$4,070
• Taxable income: $892
• Est. tax owed @ 24.0%: −$214
• After-tax cash flow: $2,897/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: 44,766
• 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

+268.2% since first listed

49 events — show timeline

• 2026-06-06 Listed $139,900 REALCOMP
• 2026-06-06 Listed $139,900 MiRealSource-MiMLS
• 2026-06-06 Listed $139,900 SW Michigan MLS
• 2025-10-23 Sold (MLS) $38,625 SW Michigan MLS
• 2025-10-23 Sold (MLS) $38,625 REALCOMP
• 2025-10-23 Sold (MLS) $38,625 MiRealSource-MiMLS
• 2025-10-02 Pending — MiRealSource-MiMLS
• 2025-10-02 Pending — REALCOMP
• 2025-10-02 Pending — SW Michigan MLS
• 2025-08-28 Price Changed $52,000 MiRealSource-MiMLS
• 2025-08-27 Price Changed $52,000 REALCOMP
• 2025-08-27 Price Changed $52,000 SW Michigan MLS
• 2025-07-21 Price Changed $54,900 MiRealSource-MiMLS
• 2025-07-20 Price Changed $54,900 REALCOMP
• 2025-07-20 Price Changed $54,900 SW Michigan MLS
• 2025-07-03 Relisted — REALCOMP
• 2025-07-03 Relisted — MiRealSource-MiMLS
• 2025-07-03 Relisted — SW Michigan MLS
• 2025-06-26 Pending — REALCOMP
• 2025-06-26 Pending — MiRealSource-MiMLS
• 2025-06-26 Pending — SW Michigan MLS
• 2025-06-24 Price Changed $59,900 MiRealSource-MiMLS
• 2025-06-24 Price Changed $59,900 REALCOMP
• 2025-06-24 Price Changed $59,900 SW Michigan MLS
• 2025-01-28 Price Changed $69,500 MiRealSource-MiMLS
• 2025-01-27 Price Changed $69,500 REALCOMP
• 2025-01-27 Price Changed $69,500 SW Michigan MLS
• 2024-12-27 Listed $79,500 REALCOMP
• 2024-12-24 Listed $79,500 SW Michigan MLS
• 2024-12-24 Listed $79,500 MiRealSource-MiMLS
• 2024-12-19 Listing Removed — REALCOMP
• 2024-12-19 Listing Removed — MiRealSource-MiMLS
• 2024-11-04 Listed $79,500 MiRealSource-MiMLS
• 2024-11-04 Listed $79,500 REALCOMP
• 2023-02-15 Pending — MiRealSource-MiMLS
• 2023-02-15 Pending — REALCOMP
• 2023-02-15 Listing Removed — MiRealSource-MiMLS
• 2023-02-15 Listing Removed — REALCOMP
• 2023-01-13 Listed $130,000 MiRealSource-MiMLS
• 2023-01-13 Listed $130,000 REALCOMP
• 2022-12-21 Listing Removed — MiRealSource-MiMLS
• 2022-12-20 Listing Removed — REALCOMP
• 2022-11-13 Listed $130,000 MiRealSource-MiMLS
• 2022-11-13 Listed $130,000 REALCOMP
• 2006-07-28 Sold (Public Records) $38,000 Public Records
• 2006-06-30 Sold (MLS) $38,500 REALCOMP
• 2006-06-30 Sold (MLS) $38,500 SW Michigan MLS
• 2006-06-09 Listed $38,000 REALCOMP
• 2006-06-09 Listed $38,000 SW Michigan MLS

Property tax history

+1.3%/yr

Latest (2025): $1,355 · +2.2% YoY. Source: county tax records.