3512 Max Paulsen Dr · Muskegon, MI 49444

$159,900

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 144 Days on market

Built 1976 1.00 ac lot $136/sqft · 15% below area Est $189k · 15% under

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Why this score? — see what drove the D+ 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 +14.8/30.0
• ARV discount +14.3/15.0
• DSCR +4.5/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

Key facts

• 1 acre lot
• Built 1976
• Listed 144 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $44 ($533/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (12.0% below list).
• Recommended offer: $141k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.7% 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: crime F, employment F.
• Fruitport Community Schools (suburban): math 29% / reading 44% proficiency, ranked #248 of 540 in MI (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edgewood Elementary School (math 28% / reading 39%, grade F, #802 of 1,397 statewide, top 58%, 581 students, 61% FRL); Fruitport Middle School (math 26% / reading 42%, grade F, #299 of 493 statewide, top 61%, 594 students, 60% FRL); Fruitport High School (math 17% / reading 47%, grade F, #405 of 713 statewide, top 59%, 810 students, 51% FRL).
• Market conditions: 239 active listings in the ZIP; 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).
• This rent runs 32% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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

• It's been on market 144 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 22 sale attempts since 26y ago; this cycle's ask has dropped $66k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $140,667 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 1976 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

• ARV (median comp): $188,565
• List price: $159,900
• Delta: -15.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3512 Max Paulsen Dr	0.00mi	3/1.0	1,176 (0%)	1mo	$121,000	$103	99
4015 Heights Ravenna Rd	0.71mi	2/1.0 (-1)	1,104 (-6%)	4mo	$209,900	$190	48
3245 Katy Ave	0.62mi	3/1.5	1,124 (-4%)	21mo	$230,000	$205	45
3575 S Dangl Rd	0.67mi	2/1.0 (-1)	1,056 (-10%)	8mo	$230,000	$218	40

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: -14.4%
• Equity multiple: 0.48×
• Total profit: $-23,084
• Equity at exit: $23,842

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-16,467
• Equity at exit: $13,825

Cash invested: $44,772 (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: 239
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,407 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$162 /mo · $1,940/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $44

Break-even live

Break-even rent $1,350

Max offer price $159,900

Occupancy floor 92%

Sensitivity live

Price	-10% $135	-5% $90	+0% $44	+5% $-1	+10% $-46
Rent	-10% $-67	-5% $-11	+0% $44	+5% $100	+10% $156
Rate	-1.0pp $125	-0.5pp $85	base $44	+0.5pp $3	+1.0pp $-39

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-05-12
   status Pending 280-char remark

   Show marketing remark (280 chars)

   Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

2. 2026-05-12
   status Pending 280-char remark

   Show marketing remark (280 chars)

   Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

3. 2026-05-12
   status Pending

   Show marketing remark (280 chars)

   Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

4. 2026-03-27
   price $159,900 280-char remark

   Show marketing remark (280 chars)

   Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

5. 2026-03-27
   price $159,900 280-char remark

   Show marketing remark (280 chars)

   Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

6. 2026-03-27
   price $159,900

   Show marketing remark (280 chars)

   Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

7. 2026-03-07
   price $174,900 280-char remark

   Show marketing remark (280 chars)

   Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

8. 2026-03-07
   price $174,900 280-char remark

   Show marketing remark (280 chars)

   Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

9. 2026-03-07
   price $174,900

   Show marketing remark (280 chars)

   Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

10. 2026-02-07
    price $184,900 280-char remark

    Show marketing remark (280 chars)

    Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

11. 2026-02-06
    price $184,900 280-char remark

    Show marketing remark (280 chars)

    Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

12. 2026-02-06
    price $184,900

    Show marketing remark (280 chars)

    Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

13. 2025-12-30
    price $199,900 280-char remark

    Show marketing remark (280 chars)

    Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

14. 2025-12-29
    price $199,900 280-char remark

    Show marketing remark (280 chars)

    Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

15. 2025-12-29
    price $199,900

    Show marketing remark (280 chars)

    Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

16. 2025-12-19
    listed $226,000 Active 280-char remark

    Show marketing remark (280 chars)

    Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

17. 2025-12-19
    listed $226,000 Active 280-char remark

    Show marketing remark (280 chars)

    Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

18. 2025-12-19
    listed $226,000 Active

    Show marketing remark (280 chars)

    Foreclosure. 3 bedroom 1 bath home. A good scrubbing, new flooring and paint will go a long way with this house. Kitchen and dining on main, bedrooms and bath up, living room, laundry room and mechanical room lower. Approval process must go through the board of the Credit Union .

19. 2022-07-18
    soldstatus $156,000
20. 2022-07-15
    soldstatus $156,000 Sold
21. 2022-07-15
    soldstatus $156,000 Sold
22. 2022-06-08
    status Pending
23. 2022-06-08
    status Pending
24. 2022-06-03
    listed $140,000 Active
25. 2022-06-03
    listed $140,000 Active
26. 2022-06-03
    listed $140,000
27. 2015-06-04
    soldstatus $59,000
28. 2015-05-19
    soldstatus $59,000
29. 2015-05-19
    soldstatus $59,000
30. 2014-11-25
    listed $55,000
31. 2014-11-25
    listed $55,000
32. 2014-09-26
    historical
33. 2014-09-25
    historical
34. 2014-09-15
    historical
35. 2013-06-04
    historical
36. 2013-06-04
    historical
37. 2013-04-29
    listed $54,900
38. 2013-04-29
    listed $54,900
39. 2012-06-19
    soldstatus $52,250
40. 2012-06-19
    soldstatus $52,250
41. 2012-04-05
    listed $54,900
42. 2012-04-05
    listed $54,900
43. 2007-07-19
    historical
44. 2007-07-19
    historical
45. 2007-05-05
    listed $88,000
46. 2007-05-05
    listed $88,000
47. 2005-09-07
    soldstatus $50,000
48. 2005-09-07
    soldstatus $50,000
49. 2005-06-23
    listed $52,900
50. 2005-06-23
    listed $52,900

ⓘ 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: $1,940 · $162/mo
• Projected year-2 tax: $2,201 · $183/mo
• Expected delta: +$261/yr (+$22/mo · 13.5%)

ⓘ 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 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: $16,880
• − Mortgage interest: −$8,957
• − Property taxes: −$1,940
• − Insurance: −$800
• − Repairs & maintenance: −$1,350
• − Management: −$1,350
• − Depreciation: −$4,652
• Taxable loss: −$2,169
• Est. tax savings @ 24.0%: +$521
• After-tax cash flow: $1,054/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: Fruitport Community Schools
• NCES district ID: 2615390
• Math proficiency: 29% ▼ -8.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $52,451
• Composite: 31.77/100
• National rank: #5893
• State rank: #248 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

• County: Muskegon County · 107,917 people
• City population: 44,766
• 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

+128.8% since first listed

60 events — show timeline

• 2026-05-12 Pending — REALCOMP
• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — SW Michigan MLS
• 2026-03-27 Price Changed $159,900 MiRealSource-MiMLS
• 2026-03-27 Price Changed $159,900 REALCOMP
• 2026-03-27 Price Changed $159,900 SW Michigan MLS
• 2026-03-07 Price Changed $174,900 MiRealSource-MiMLS
• 2026-03-07 Price Changed $174,900 REALCOMP
• 2026-03-07 Price Changed $174,900 SW Michigan MLS
• 2026-02-07 Price Changed $184,900 MiRealSource-MiMLS
• 2026-02-06 Price Changed $184,900 REALCOMP
• 2026-02-06 Price Changed $184,900 SW Michigan MLS
• 2025-12-30 Price Changed $199,900 MiRealSource-MiMLS
• 2025-12-29 Price Changed $199,900 REALCOMP
• 2025-12-29 Price Changed $199,900 SW Michigan MLS
• 2025-12-19 Listed $226,000 SW Michigan MLS
• 2025-12-19 Listed $226,000 MiRealSource-MiMLS
• 2025-12-19 Listed $226,000 REALCOMP
• 2022-07-18 Sold (Public Records) $156,000 Public Records
• 2022-07-15 Sold (MLS) $156,000 SW Michigan MLS
• 2022-07-15 Sold (MLS) $156,000 REALCOMP
• 2022-06-08 Pending — REALCOMP
• 2022-06-08 Pending — SW Michigan MLS
• 2022-06-03 Listed $140,000 MiRealSource-MiMLS
• 2022-06-03 Listed $140,000 SW Michigan MLS
• 2022-06-03 Listed $140,000 REALCOMP
• 2015-06-04 Sold (Public Records) $59,000 Public Records
• 2015-05-19 Sold (MLS) $59,000 SW Michigan MLS
• 2015-05-19 Sold (MLS) $59,000 REALCOMP
• 2014-11-25 Listed $55,000 SW Michigan MLS
• 2014-11-25 Listed $55,000 REALCOMP
• 2014-09-26 Listing Removed — SW Michigan MLS
• 2014-09-25 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2013-06-04 Listing Removed — SW Michigan MLS
• 2013-06-04 Listing Removed — REALCOMP
• 2013-04-29 Listed $54,900 SW Michigan MLS
• 2013-04-29 Listed $54,900 REALCOMP
• 2012-06-19 Sold (MLS) $52,250 REALCOMP
• 2012-06-19 Sold (MLS) $52,250 SW Michigan MLS
• 2012-04-05 Listed $54,900 REALCOMP
• 2012-04-05 Listed $54,900 SW Michigan MLS
• 2007-07-19 Listing Removed — SW Michigan MLS
• 2007-07-19 Listing Removed — REALCOMP
• 2007-05-05 Listed $88,000 SW Michigan MLS
• 2007-05-05 Listed $88,000 REALCOMP
• 2005-09-07 Sold (MLS) $50,000 REALCOMP
• 2005-09-07 Sold (MLS) $50,000 SW Michigan MLS
• 2005-06-23 Listed $52,900 REALCOMP
• 2005-06-23 Listed $52,900 SW Michigan MLS
• 2005-04-27 Listing Removed — REALCOMP
• 2005-02-28 Listing Removed — REALCOMP
• 2005-01-27 Listed $59,900 REALCOMP
• 2005-01-27 Listed $59,900 SW Michigan MLS
• 2004-11-01 Listed $64,900 REALCOMP
• 2004-11-01 Listed $64,900 SW Michigan MLS
• 2000-06-27 Sold (Public Records) $69,900 Public Records
• 2000-03-20 Listing Removed — REALCOMP
• 2000-01-20 Listed $69,900 REALCOMP
• 2000-01-20 Listed $69,900 SW Michigan MLS

Property tax history

+9.9%/yr

Latest (2025): $1,940 · +3.0% YoY. Source: county tax records.