2937 8th St · Muskegon Heights, MI 49444

$82,000

2 bd · 1.0 ba · 682 sqft · SingleFamily public records · 12 Days on market

Built 1915 3,746 sqft lot Est $80k · at est.

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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 +20.3/30.0
• DSCR +6.5/10.0
• ARV discount +6.3/15.0
• 1% rule +5.2/10.0
• 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

2 bedroom 1 bath home on a corner lot. New furnace and new flooring 2024. Full unfinished basement, enclosed front porch

Key facts

• New furnace
• New flooring
• Corner lot

Tags

• CORNER LOT
• NEW FURNACE
• NEW FLOORING
• FULL UNFINISHED BASEMENT
• ENCLOSED FRONT PORCH

Property features AI

Exterior

• Utilities: Natural gas available and connected; Electricity available; Cable connected
• Home design: Single-family residence; Residential property
• Construction: Wood siding; Composition roof; Built in 1915
• Exterior features: Corner lot; Paved road access; Public water

Interior

• Kitchen: Kitchen (14 x 11)
• Bedrooms: Primary bedroom (11 x 9); Bedroom 2 (8 x 9)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Replacement windows; Total of 5 rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $105 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($838 rent vs $82k).

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 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 $567 of loan paydown is wiped out by about $2k 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

• Only 12 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.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,000

Questions for the listing agent

1. Built in 1915 — 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: 1.02% ✓
• Cap rate: 7.84%
• Cash-on-cash: 5.51%
• DSCR: 1.25
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $79,794
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3140 Temple St	0.33mi	2/1.0	690 (+1%)	12mo	$90,000	$130	72
3133 Sanford St	0.38mi	2/1.0	724 (+6%)	2mo	$50,000	$69	70
3300 5th St	0.39mi	2/1.0	704 (+3%)	8mo	$59,500	$85	69
3304 Waalkes St	0.38mi	2/1.0	760 (+11%)	0mo	$115,900	$153	63
3229 Jefferson St	0.41mi	3/1.0 (+1)	732 (+7%)	2mo	$114,000	$156	62
3033 Morton Ave	0.69mi	2/1.0	688 (+1%)	7mo	$97,000	$141	60
3364 7th St	0.48mi	1/1.0 (-1)	660 (-3%)	9mo	$39,900	$60	59
3015 Lemuel St	0.32mi	2/1.0	592 (-13%)	7mo	$29,900	$51	58
2817 Mason Blvd	0.68mi	2/1.0	624 (-8%)	1mo	$54,900	$88	53
3237 Sanford St	0.45mi	2/1.0	776 (+14%)	5mo	$16,000	$21	52
3236 Maffett St	0.56mi	2/1.0	784 (+15%)	12mo	$141,900	$181	39
224 E Lincoln Ave	0.70mi	3/1.0 (+1)	770 (+13%)	2mo	$90,000	$117	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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-6,565
• Equity at exit: $12,226

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $2,958
• Equity at exit: $7,090

Cash invested: $22,960 (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: 8.2×

Monthly cashflow live

• Estimated rent: $838 high
• Mortgage (P&I): −$430
• Tax from tax record: −$93 /mo · $1,112/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $105

Break-even live

Break-even rent $705

Max offer price $82,000

Occupancy floor 82%

Sensitivity live

Price	-10% $152	-5% $129	+0% $105	+5% $82	+10% $59
Rent	-10% $39	-5% $72	+0% $105	+5% $139	+10% $172
Rate	-1.0pp $147	-0.5pp $126	base $105	+0.5pp $84	+1.0pp $63

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2901 Temple St Unit 2 Muskegon Heights, MI	1.0	1.0	400	$750	$1.88	21d	1	0.25mi
2516 5th St Apt 1 Muskegon Heights, MI	1.0	1.0	630	$775	$1.23	21d	1	0.62mi
2516 5th St Apt 2 Muskegon Heights, MI	1.0	1.0	630	$750	$1.19	21d	1	0.62mi
1893 Jefferson St Unit 2 Muskegon, MI	1.0	1.0	594	$700	$1.18	21d	1	1.41mi
121 E Holbrook Ave Apt 3 Muskegon, MI	2.0	1.0	650	$950	$1.46	21d	1	1.48mi

Listing history 11 events

1. 2026-06-19
   days on market $82,000 Active 12 DOM
2. 2026-06-18
   days on market $82,000 Active 11 DOM
3. 2026-06-17
   days on market $82,000 Active 10 DOM
4. 2026-06-16
   days on market $82,000 Active 9 DOM
5. 2026-06-15
   days on market $82,000 Active 8 DOM
6. 2026-06-14
   days on market $82,000 Active 6 DOM
7. 2026-06-13
   days on market $82,000 Active 5 DOM
8. 2026-06-09
   days on market $82,000 Active 4 DOM
9. 2026-06-08
   days on market $82,000 Active 3 DOM
10. 2026-06-07
    remarks 121-char remark
11. 2026-06-07
    listed $82,000 Active 2 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: $1,112 · $93/mo
• Projected year-2 tax: $1,188 · $99/mo
• Expected delta: +$75/yr (+$6/mo · 6.8%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 14 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: $10,061
• − Mortgage interest: −$4,593
• − Property taxes: −$1,112
• − Insurance: −$410
• − Repairs & maintenance: −$805
• − Management: −$805
• − Depreciation: −$2,385
• Taxable loss: −$50
• Est. tax savings @ 24.0%: +$12
• After-tax cash flow: $1,277/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

+415.7% since first listed

16 events — show timeline

• 2026-06-05 Listed $82,000 SW Michigan MLS
• 2026-06-05 Listed $82,000 REALCOMP
• 2026-06-05 Listed $82,000 MiRealSource-MiMLS
• 2024-06-04 Sold (Public Records) $79,900 Public Records
• 2024-05-30 Sold (MLS) $79,900 SW Michigan MLS
• 2024-05-30 Sold (MLS) $79,900 MiRealSource-MiMLS
• 2024-05-30 Sold (MLS) $79,900 REALCOMP
• 2024-04-19 Pending — REALCOMP
• 2024-04-19 Pending — MiRealSource-MiMLS
• 2024-04-19 Pending — SW Michigan MLS
• 2024-04-10 Listed $79,900 SW Michigan MLS
• 2024-04-10 Listed $79,900 MiRealSource-MiMLS
• 2024-04-10 Listed $79,900 REALCOMP
• 2003-09-29 Sold (Public Records) $13,000 Public Records
• 2003-09-26 Sold (MLS) $13,000 REALCOMP
• 2003-07-15 Listed $15,900 REALCOMP

Property tax history

+4.2%/yr

Latest (2025): $1,112 · +160.4% YoY. Source: county tax records.