2820 Sheffield St · Norton Shores, MI 49441

$155,000

3 bd · 1.0 ba · 1,110 sqft · SingleFamily public records · 1 Days on market

Built 1946 0.27 ac lot Est $169k · 8% 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 +13.4/30.0
• ARV discount +11.2/15.0
• Rent growth +5.0/5.0
• DSCR +4.0/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 3-bedroom, 1-bath home conveniently located in the heart of Norton Shores! Upgrades include newer roof and furnace. Situated near Seaway Drive, this home offers quick access to shopping, grocery stores, restaurants, parks, and everyday conveniences.

Key facts

• 0.27 acre lot
• 2 garage spots
• Built 1946

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Natural gas available and connected; Electricity available; Cable connected; High-speed internet; Natural gas water heater
• Home design: Single family residence; Residential property; Built in 1946; 1,110 total building area; Composition roof
• Construction: Wood siding construction
• Exterior features: Paved road access; Public water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: 6 total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $3 ($40/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 $129k (17.0% below list).
• Recommended offer: $129k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.3% in Norton Shores — 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 70/100 on livability (#310 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety F.
• Mona Shores Public School District (suburban): math 30% / reading 48% proficiency, ranked #218 of 540 in MI (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mona Shores Middle School (math 26% / reading 47%, grade F, #264 of 493 statewide, top 54%, 902 students, 54% FRL); Mona Shores High School (math 36% / reading 61%, grade D, #180 of 713 statewide, top 25%, 1,268 students, 42% FRL).
• Market conditions: Rents rising fast (+18.1%/yr); 271 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $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

• Only 1 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: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,590 (17.0% below list)

Questions for the listing agent

1. Built in 1946 — 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 B-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. 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?
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: 0.83% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.09%
• DSCR: 1.00
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $168,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2913 Lemuel St	0.18mi	3/1.0	1,173 (+6%)	2mo	$65,000	$55	80
946 Post Rd	0.25mi	3/1.0	1,068 (-4%)	9mo	$162,500	$152	75
3031 Lemuel St	0.27mi	3/1.0	1,056 (-5%)	7mo	$129,000	$122	73
861 Sherwood Rd	0.36mi	3/1.5	1,055 (-5%)	8mo	$227,000	$215	66
3109 Temple St	0.38mi	3/1.0	1,006 (-9%)	4mo	$118,000	$117	63
3043 Westland Rd	0.72mi	3/1.5	1,095 (-1%)	7mo	$230,000	$210	56
3008 Dawes Rd	0.72mi	2/1.0 (-1)	1,080 (-3%)	2mo	$205,000	$190	55
2933 6th St	0.61mi	2/1.0 (-1)	1,044 (-6%)	8mo	$27,000	$26	50
3220 7th St	0.71mi	2/1.0 (-1)	1,153 (+4%)	7mo	$100,000	$87	49
375 W Maplewood Ave	0.70mi	3/1.0	984 (-11%)	2mo	$105,894	$108	46
1307 Cornell Rd	0.71mi	3/1.0	1,259 (+13%)	1mo	$235,000	$187	44
3288 Hanley Rd	0.73mi	4/1.5 (+1)	1,238 (+12%)	4mo	$255,000	$206	37

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: -11.0%
• Equity multiple: 0.58×
• Total profit: $-18,125
• Equity at exit: $23,111

10-year hold

• IRR: 4.0%
• Equity multiple: 1.35×
• Total profit: $15,352
• Equity at exit: $13,402

Cash invested: $43,400 (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: 271
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,286 high
• Mortgage (P&I): −$813
• Tax from tax record: −$135 /mo · $1,621/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $3

Break-even live

Break-even rent $1,282

Max offer price $155,000

Occupancy floor 95%

Sensitivity live

Price	-10% $91	-5% $47	+0% $3	+5% $-41	+10% $-84
Rent	-10% $-98	-5% $-47	+0% $3	+5% $54	+10% $105
Rate	-1.0pp $81	-0.5pp $43	base $3	+0.5pp $-37	+1.0pp $-78

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2901 Temple St Unit 1 Muskegon Heights, MI	2.0	1.0	850	$1,095	$1.29	45d	1	0.23mi
3041 Lemuel St Muskegon, MI	3.0	1.0	872	$1,195	$1.37	23d	1	0.28mi
3040 Temple St Muskegon, MI	2.0	1.0	900	$1,150	$1.28	23d	1	0.34mi
889 Woodside Rd Unit 36 Muskegon, MI	2.0	1.0	880	$1,125	$1.28	45d	1	0.43mi
2073 Dowd St Muskegon, MI	3.0	2.5	1228	$1,750	$1.43	23d	1	1.06mi
2065 Dowd St Muskegon, MI	3.0	2.0	1228	$1,695	$1.38	23d	1	1.09mi
232 E Lincoln Ave Muskegon, MI	2.0	1.0	1020	$1,100	$1.08	23d	1	1.21mi

Listing history 6 events

1. 2026-05-14
   status Pending

   Show marketing remark (274 chars)

   Welcome to this charming 3-bedroom, 1-bath home conveniently located in the heart of Norton Shores! Upgrades include newer roof and furnace. Situated near Seaway Drive, this home offers quick access to shopping, grocery stores, restaurants, parks, and everyday conveniences.

2. 2026-05-14
   listed $155,000 Active

   Show marketing remark (274 chars)

   Welcome to this charming 3-bedroom, 1-bath home conveniently located in the heart of Norton Shores! Upgrades include newer roof and furnace. Situated near Seaway Drive, this home offers quick access to shopping, grocery stores, restaurants, parks, and everyday conveniences.

3. 2026-05-14
   listed $155,000 274-char remark

   Show marketing remark (274 chars)

   Welcome to this charming 3-bedroom, 1-bath home conveniently located in the heart of Norton Shores! Upgrades include newer roof and furnace. Situated near Seaway Drive, this home offers quick access to shopping, grocery stores, restaurants, parks, and everyday conveniences.

4. 2026-05-14
   historical 274-char remark

   Show marketing remark (274 chars)

   Welcome to this charming 3-bedroom, 1-bath home conveniently located in the heart of Norton Shores! Upgrades include newer roof and furnace. Situated near Seaway Drive, this home offers quick access to shopping, grocery stores, restaurants, parks, and everyday conveniences.

5. 2026-05-14
   listed $155,000 274-char remark

   Show marketing remark (274 chars)

   Welcome to this charming 3-bedroom, 1-bath home conveniently located in the heart of Norton Shores! Upgrades include newer roof and furnace. Situated near Seaway Drive, this home offers quick access to shopping, grocery stores, restaurants, parks, and everyday conveniences.

6. 2026-05-14
   historical 274-char remark

   Show marketing remark (274 chars)

   Welcome to this charming 3-bedroom, 1-bath home conveniently located in the heart of Norton Shores! Upgrades include newer roof and furnace. Situated near Seaway Drive, this home offers quick access to shopping, grocery stores, restaurants, parks, and everyday conveniences.

ⓘ 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: $1,621 · $135/mo
• Projected year-2 tax: $2,004 · $167/mo
• Expected delta: +$383/yr (+$32/mo · 23.6%)

ⓘ 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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,431
• − Mortgage interest: −$8,682
• − Property taxes: −$1,621
• − Insurance: −$775
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$4,509
• Taxable loss: −$2,626
• Est. tax savings @ 24.0%: +$630
• After-tax cash flow: $670/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: Mona Shores Public School District
• NCES district ID: 2624120
• Math proficiency: 30% ▼ -8.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $52,748
• Composite: 33.86/100
• National rank: #5352
• State rank: #218 of 540 in MI

Livability — Norton Shores

• Score: 70/100
• State rank: #310
• US rank: #7620

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment B- Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norton Shores, MI
• County: Muskegon County · 107,917 people
• City population: 26,372
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-14 Pending — SW Michigan MLS
• 2026-05-14 Listing Removed — MiRealSource-MiMLS
• 2026-05-14 Listed $155,000 MiRealSource-MiMLS
• 2026-05-14 Listing Removed — REALCOMP
• 2026-05-14 Listed $155,000 REALCOMP
• 2026-05-14 Listed $155,000 SW Michigan MLS

Property tax history

+2.6%/yr

Latest (2025): $1,621 · +2.8% YoY. Source: county tax records.