490 S Sunshine Ln · Wolf Lake, MI 49442

$49,900

3 bd · 2.0 ba · 980 sqft · SingleFamily · 17 Days on market

Built 2011 Good condition ↓ 16% since listing

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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
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this 3 bedroom 2 bath home in Oakridge School District. Located on the backside of Apple Car Village you will enjoy this homes open and thought out floor plan. The place is turn-key move in ready with the master/en suite toward the back plus the other 2 bedrooms and full bath toward the front and 2 parking spots! Not only is this home dialed in its on one of the best lots in the park. All the way in the back, no neighbors behind it and all wooded! Home is occupied but easy to show and any buyer can have keys at closing!

Key facts

• Open floor plan
• Wooded
• No neighbors behind

Tags

• OPEN FLOOR PLAN
• TURN-KEY MOVE IN READY
• NO NEIGHBORS BEHIND
• WOODED

Property features AI

Finance

• HOA & community: Community clubhouse; Fitness center; Community pool; Pets allowed; Association includes trash service

Exterior

• Utilities: Public water
• Home design: Residential property; Other architectural style; Built in 2011
• Construction: Vinyl siding; Composition roof; Crawl space and slab foundations
• Exterior features: Paved road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Eat-in kitchen; Insulated windows; 8 total rooms
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $797 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.5% vs local median 3.6% in Wolf Lake — 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 60/100 on livability (#594 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Oakridge Public Schools (suburban): math 17% / reading 40% proficiency, ranked #389 of 540 in MI (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+8.2%/yr); 289 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).
• This rent runs 36% of the median local income ($49k/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 $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y 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.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 2.90% ✓
• Cap rate: 25.45%
• Cash-on-cash: 68.43%
• DSCR: 4.04
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $142,100
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
490 S Sunshine Ln	0.00mi	3/2.0	980 (0%)	16mo	$50,000	$51	87
5122 Rose Ave	0.39mi	3/1.0	960 (-2%)	4mo	$200,000	$208	71
454 Taffy Ln	0.24mi	3/2.0	1,001 (+2%)	19mo	$45,000	$45	69
739 Chandler St	0.32mi	2/1.0 (-1)	1,032 (+5%)	2mo	$230,000	$223	66
532 Harvest Ln	0.07mi	3/1.0	1,075 (+10%)	19mo	$19,500	$18	61
646 S Chandler St	0.20mi	2/1.0 (-1)	908 (-7%)	11mo	$160,000	$176	60
5056 Valentine Ln	0.11mi	3/2.0	1,094 (+12%)	22mo	$57,360	$52	57
61 S Dengler Rd	0.66mi	2/1.0 (-1)	998 (+2%)	23mo	$169,900	$170	38
5230 E Apple Ave	0.66mi	3/1.0	1,118 (+14%)	9mo	$185,500	$166	34
5183 E Apple Ave	0.71mi	2/1.0 (-1)	847 (-14%)	6mo	$122,400	$145	30
1043 Hoffman St	0.71mi	2/1.0 (-1)	880 (-10%)	18mo	$115,000	$131	26

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: 73.5%
• Equity multiple: 4.60×
• Total profit: $50,322
• Equity at exit: $7,440

10-year hold

• IRR: 78.7%
• Equity multiple: 11.31×
• Total profit: $144,015
• Equity at exit: $4,314

Cash invested: $13,972 (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 49442

• Rents YoY: 8.2%
• Active inventory: 289
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,445 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $797

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 40%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
516 Courtland Ln Muskegon, MI	3.0	2.0	1223	$1,414	$1.16	2d	1	0.23mi

Listing history 13 events

1. 2026-06-19
   days on market $49,900 Active 17 DOM
2. 2026-06-18
   days on market $49,900 Active 16 DOM
3. 2026-06-17
   days on market $49,900 Active 15 DOM
4. 2026-06-16
   days on market $49,900 Active 14 DOM
5. 2026-06-15
   days on market $49,900 Active 13 DOM
6. 2026-06-14
   days on market $49,900 Active 11 DOM
7. 2026-06-13
   days on market $49,900 Active 10 DOM
8. 2026-06-10
   days on market $49,900 Active 8 DOM
9. 2026-06-09
   days on market $49,900 Active 7 DOM
10. 2026-06-08
    days on market $49,900 Active 6 DOM
11. 2026-06-07
    days on market $49,900 Active 5 DOM
12. 2026-06-03
    remarks 540-char remark
13. 2026-06-03
    listed $49,900 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $17,342
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$1,452
• Taxable income: $9,322
• Est. tax owed @ 24.0%: −$2,237
• After-tax cash flow: $7,324/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This 3-bedroom, 2-bath home is in good condition with a good exterior and interior. It is move-in ready and has a good layout with a master en suite and two additional bedrooms. The home is located in a desirable neighborhood with wooded surroundings and has two parking spots. The home is currently occupied but can be shown easily and will be ready for the new owner at closing.

Value-add opportunities

• Both Paint the interior walls and ceilings — Fresh paint can make the home look more inviting and increase its value.
• Both Replace the carpet in the living room and kitchen — New carpet can improve the home's appearance and increase its value.
• Both Clean the kitchen cabinets and countertops — A clean and organized kitchen can make the home more appealing to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the interior walls and ceilings — Fresh paint can make the home look more inviting and increase its value. ↑
• Both Replace the carpet in the living room and kitchen — New carpet can improve the home's appearance and increase its value. ↑
• Both Clean the kitchen cabinets and countertops — A clean and organized kitchen can make the home more appealing to potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Oakridge Public Schools
• NCES district ID: 2626220
• Math proficiency: 17% ▼ -8.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $41,553
• Composite: 24.06/100
• National rank: #7762
• State rank: #389 of 540 in MI

Livability — Wolf Lake

• Score: 60/100
• State rank: #594
• US rank: #19391

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wolf Lake, MI
• County: Muskegon County · 107,917 people
• Metro: Muskegon, MI
• Population (ZIP): 44,766
• Household income: $48,563
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 1598.0

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 0.56)
• Race & ethnicity: White 63% Black 22% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Iranian 5% Romanian 4% Lithuanian 3%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -174.87%
• Current HPI: 287.0558
• Rent YoY: ▲ 8.21%
• 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

-16.4% since first listed

15 events — show timeline

• 2026-06-02 Listed $49,900 MiRealSource-MiMLS
• 2026-06-02 Listed $49,900 SW Michigan MLS
• 2026-06-02 Listed $49,900 REALCOMP
• 2025-02-21 Sold (MLS) $50,000 MiRealSource-MiMLS
• 2025-02-21 Sold (MLS) $50,000 SW Michigan MLS
• 2025-02-21 Sold (MLS) $50,000 REALCOMP
• 2025-02-10 Pending — REALCOMP
• 2025-02-10 Pending — MiRealSource-MiMLS
• 2025-02-10 Pending — SW Michigan MLS
• 2024-11-22 Price Changed $54,700 MiRealSource-MiMLS
• 2024-11-22 Price Changed $54,700 REALCOMP
• 2024-11-21 Price Changed $54,700 SW Michigan MLS
• 2024-10-24 Listed $59,700 MiRealSource-MiMLS
• 2024-10-24 Listed $59,700 SW Michigan MLS
• 2024-10-24 Listed $59,700 REALCOMP