68 Maple Ct · North Muskegon, MI 49445

$63,900

3 bd · 1.0 ba · 1,216 sqft · Other public records · 10 Days on market

Built 1996 $53/sqft · 28% above area Est $50k · 28% over $615/mo HOA · 31% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.9/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

This is the kind of affordable home buyers wait for -- completely redone inside, move-in ready, and packed with major updates. This spacious 3-bedroom, 2-bath home in Park Meadows features new flooring, fresh trim, neutral paint, an open living/kitchen layout, central air, a new roof, and a new water heater. The interior feels clean, bright, and modern from the moment you walk in -- not like a project, but like a home that has already been brought back to life. Outside, enjoy clean curb appeal, fresh landscaping, and a large detached storage shed/workshop for tools, hobbies, bikes, or extra storage. There are two entries on the same side of unit. This home is located in a park and the transaction will be subject to Park Meadows' approval of the buyer and terms of their security deposit. Financing is available. Contact agent to see property/financing options. Park Meadows [phone].

Key facts

• New flooring
• Fresh trim
• New water heater

Tags

• NEW FLOORING
• FRESH TRIM
• OPEN LIVING KITCHEN LAYOUT
• CENTRAL AIR
• NEW ROOF
• NEW WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $64k.

Deal economics

• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• Cap rate 15.8% 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 $7k of equity ($442 loan paydown + $6k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $63,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 3.09% ✓
• Cap rate: 15.75%
• Cash-on-cash: 33.78%
• DSCR: 2.50
• GRM: 2.7

CMA / ARV

• ARV (median comp): $50,000
• List price: $63,900
• Delta: 27.80%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.3%
• Equity multiple: 4.76×
• Total profit: $67,287
• Equity at exit: $57,566

10-year hold

• IRR: 44.2%
• Equity multiple: 10.71×
• Total profit: $173,735
• Equity at exit: $124,144

Cash invested: $17,892 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,975 medium
• Mortgage (P&I): −$335
• Tax est. 1.5%: −$80 /mo · $958/yr
• Insurance: −$27
• HOA: −$615
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $504

Break-even live

Break-even rent $1,337

Max offer price $63,900

Occupancy floor 70%

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: $15,975
• Closing costs: $1,917
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1990 Pappas Rd Muskegon, MI	3.0	2.0	1468	$1,975	$1.35	21d	1	1.42mi

HOA detail

• Monthly dues: $615 · $7,380/yr
• Likely covers: waterlandscapingsecurity

Listing history 3 events

1. 2026-05-12
   listed $63,900 Active 901-char remark

   Show marketing remark (899 chars)

   This is the kind of affordable home buyers wait for -- completely redone inside, move-in ready, and packed with major updates. This spacious 3-bedroom, 2-bath home in Park Meadows features new flooring, fresh trim, neutral paint, an open living/kitchen layout, central air, a new roof, and a new water heater. The interior feels clean, bright, and modern from the moment you walk in -- not like a project, but like a home that has already been brought back to life. Outside, enjoy clean curb appeal, fresh landscaping, and a large detached storage shed/workshop for tools, hobbies, bikes, or extra storage. There are two entries on the same side of unit. This home is located in a park and the transaction will be subject to Park Meadows' approval of the buyer and terms of their security deposit. Financing is available. Contact agent to see property/financing options. Park Meadows [phone].

2. 2026-05-12
   listed $63,900 Active 899-char remark

   Show marketing remark (899 chars)

   This is the kind of affordable home buyers wait for -- completely redone inside, move-in ready, and packed with major updates. This spacious 3-bedroom, 2-bath home in Park Meadows features new flooring, fresh trim, neutral paint, an open living/kitchen layout, central air, a new roof, and a new water heater. The interior feels clean, bright, and modern from the moment you walk in -- not like a project, but like a home that has already been brought back to life. Outside, enjoy clean curb appeal, fresh landscaping, and a large detached storage shed/workshop for tools, hobbies, bikes, or extra storage. There are two entries on the same side of unit. This home is located in a park and the transaction will be subject to Park Meadows' approval of the buyer and terms of their security deposit. Financing is available. Contact agent to see property/financing options. Park Meadows [phone].

3. 2026-05-12
   listed $63,900 Active

   Show marketing remark (899 chars)

   This is the kind of affordable home buyers wait for -- completely redone inside, move-in ready, and packed with major updates. This spacious 3-bedroom, 2-bath home in Park Meadows features new flooring, fresh trim, neutral paint, an open living/kitchen layout, central air, a new roof, and a new water heater. The interior feels clean, bright, and modern from the moment you walk in -- not like a project, but like a home that has already been brought back to life. Outside, enjoy clean curb appeal, fresh landscaping, and a large detached storage shed/workshop for tools, hobbies, bikes, or extra storage. There are two entries on the same side of unit. This home is located in a park and the transaction will be subject to Park Meadows' approval of the buyer and terms of their security deposit. Financing is available. Contact agent to see property/financing options. Park Meadows [phone].

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,700
• − Mortgage interest: −$3,579
• − Property taxes: −$958
• − Insurance: −$320
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − HOA: −$7,380
• − Depreciation: −$1,859
• Taxable income: $5,812
• Est. tax owed @ 24.0%: −$1,395
• After-tax cash flow: $4,649/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

+0.0% since first listed

3 events — show timeline

• 2026-05-12 Listed $63,900 REALCOMP
• 2026-05-12 Listed $63,900 MiRealSource-MiMLS
• 2026-05-12 Listed $63,900 SW Michigan MLS

Property tax history

+2.7%/yr

Latest (2025): $64 · +2.3% YoY. Source: county tax records.