1323 Catherine Ave · Muskegon, MI 49442

$120,000

3 bd · 1.0 ba · 728 sqft · SingleFamily public records · 94 Days on market

Built 1930 5,140 sqft lot Est $131k · 8% under

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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 +24.5/30.0
• ARV discount +11.3/15.0
• DSCR +7.9/10.0
• 1% rule +5.6/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

Key facts

• Quiet street
• Paved driveway
• Bungalow

Tags

• BUNGALOW
• QUIET STREET
• FUNCTIONAL MAIN-FLOOR LAYOUT
• DEDICATED LAUNDRY ROOM
• PAVED DRIVEWAY
• PARTIALLY FENCED REAR YARD

Property features AI

Exterior

• Utilities: Public water; Electricity available; Natural gas available and connected; Natural gas water heater
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding; Composition roof; Built in 1930
• Exterior features: Sidewalk; Shed(s); Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Heating present
• Interior features: Six total rooms; Crawl space basement; Dining area; Living room; Laundry room; An additional flexible 'other' room
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.6% 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: schools D-, crime F, employment F.
• Muskegon Public Schools Of The City Of (urban): math 4% / reading 12% proficiency, ranked #534 of 540 in MI (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.2%/yr); 289 active listings in the ZIP; 4 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).
• This rent runs 32% 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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 28y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $120k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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.
8. 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.
9. 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: 1.06% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.78%
• DSCR: 1.39
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $131,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1318 Catherine Ave	0.03mi	2/1.0 (-1)	760 (+4%)	8mo	$87,500	$115	79
1192 Oak Grove St	0.27mi	2/1.0 (-1)	720 (-1%)	6mo	$129,900	$180	75
1255 Langeland Ave	0.25mi	2/1.0 (-1)	792 (+9%)	2mo	$109,900	$139	66
1341 Mclaughlin Ave	0.07mi	3/1.0	830 (+14%)	8mo	$185,000	$223	66
825 Stevens St	0.64mi	2/1.0 (-1)	724 (-0%)	2mo	$163,200	$225	63
931 Stevens St	0.56mi	2/1.0 (-1)	740 (+2%)	9mo	$149,900	$203	58
1146 Kampenga Ave	0.44mi	2/1.0 (-1)	768 (+6%)	9mo	$154,000	$201	58
1046 Oakgrove St	0.30mi	3/1.5	816 (+12%)	9mo	$186,580	$229	56
1885 E Isabella Ave	0.72mi	2/1.0 (-1)	720 (-1%)	6mo	$110,000	$153	55
1674 Evanston Ave	0.74mi	2/1.0 (-1)	686 (-6%)	2mo	$65,000	$95	49
1071 Kampenga Ave	0.51mi	2/1.0 (-1)	816 (+12%)	4mo	$140,000	$172	48
1138 E Forest Ave	0.59mi	2/1.0 (-1)	788 (+8%)	8mo	$108,000	$137	47

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: 2.2%
• Equity multiple: 1.09×
• Total profit: $2,931
• Equity at exit: $17,892

10-year hold

• IRR: 15.9%
• Equity multiple: 2.59×
• Total profit: $53,301
• Equity at exit: $10,375

Cash invested: $33,600 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$82 /mo · $989/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $246

Break-even live

Break-even rent $964

Max offer price $120,000

Occupancy floor 76%

Sensitivity live

Price	-10% $314	-5% $280	+0% $246	+5% $212	+10% $178
Rent	-10% $145	-5% $195	+0% $246	+5% $296	+10% $347
Rate	-1.0pp $306	-0.5pp $276	base $246	+0.5pp $215	+1.0pp $183

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1126 Holt St Muskegon, MI	2.0	1.0	708	$1,095	$1.55	21d	1	0.75mi
410 Glen Oaks Dr Muskegon, MI	1.0–2.0	1.0	638	$1,204	$1.89	21d	55	0.98mi
1000 Marquette Ave Muskegon, MI	1.0–3.0	1.0–1.5	870	$1,270	$1.46	21d	1	1.09mi
1101 Spring St Muskegon, MI	2.0	1.0	700	$1,100	$1.57	21d	1	1.41mi

Listing history 39 events

1. 2026-06-02
   status $120,000 Pending 94 DOM
2. 2026-06-01
   days on market $120,000 Active 94 DOM
3. 2026-05-31
   days on market $120,000 Active 93 DOM
4. 2026-05-30
   days on market $120,000 Active 92 DOM
5. 2026-05-06
   price $120,000 363-char remark

   Show marketing remark (363 chars)

   2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

6. 2026-05-06
   price $120,000 363-char remark

   Show marketing remark (363 chars)

   2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

7. 2026-05-06
   price $120,000

   Show marketing remark (363 chars)

   2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

8. 2026-04-22
   price $125,000 363-char remark

   Show marketing remark (363 chars)

   2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

9. 2026-04-22
   price $125,000 363-char remark

   Show marketing remark (363 chars)

   2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

10. 2026-04-22
    price $125,000

    Show marketing remark (363 chars)

    2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

11. 2026-03-13
    price $130,000 363-char remark

    Show marketing remark (363 chars)

    2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

12. 2026-03-12
    price $130,000 363-char remark

    Show marketing remark (363 chars)

    2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

13. 2026-03-12
    price $130,000

    Show marketing remark (363 chars)

    2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

14. 2026-02-27
    listed $135,000 Active 363-char remark

    Show marketing remark (363 chars)

    2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

15. 2026-02-27
    listed $135,000 Active 363-char remark

    Show marketing remark (363 chars)

    2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

16. 2026-02-27
    listed $135,000 Active

    Show marketing remark (363 chars)

    2-bedroom, 1-bath bungalow for someone looking to build sweat equity. Located on a quiet street in Muskegon, this home features a functional main-floor layout including a dedicated laundry room. The exterior offers a paved driveway, a partially fenced rear yard, and a storage shed. Skip the wait?this home is vacant and ready for immediate possession at closing.

17. 2018-01-03
    soldstatus $57,900
18. 2017-12-12
    soldstatus $57,900
19. 2017-12-12
    soldstatus $57,900 Sold
20. 2017-10-16
    status Pending
21. 2017-10-08
    listed $54,900 Active
22. 2017-10-05
    listed $54,900
23. 2014-09-15
    historical
24. 2006-06-29
    soldstatus $56,660
25. 2006-06-29
    soldstatus $56,660
26. 2005-11-08
    listed $58,900
27. 2005-11-08
    listed $58,900
28. 2002-12-12
    soldstatus $50,000
29. 2002-12-12
    soldstatus $50,000
30. 2002-12-12
    soldstatus $50,000
31. 2002-10-08
    listed $49,900
32. 2002-10-08
    listed $49,900
33. 2001-02-11
    historical
34. 2000-09-11
    listed $51,900
35. 2000-09-11
    listed $51,900
36. 1999-04-23
    soldstatus $24,502
37. 1999-04-23
    soldstatus $24,502
38. 1998-12-28
    listed $24,900
39. 1998-12-28
    listed $24,900

ⓘ 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: $989 · $82/mo
• Projected year-2 tax: $1,419 · $118/mo
• Expected delta: +$429/yr (+$36/mo · 43.4%)

ⓘ 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: $15,305
• − Mortgage interest: −$6,722
• − Property taxes: −$989
• − Insurance: −$600
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$3,491
• Taxable income: $1,054
• Est. tax owed @ 24.0%: −$253
• After-tax cash flow: $2,697/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: Muskegon Public Schools Of The City Of
• NCES district ID: 2624840
• Math proficiency: 4% ▼ -9.00%
• Reading proficiency: 12% ▼ -9.00%
• Median HH income: $27,622
• Composite: 5.8/100
• National rank: #10017
• State rank: #534 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

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

+381.9% since first listed

35 events — show timeline

• 2026-05-06 Price Changed $120,000 MiRealSource-MiMLS
• 2026-05-06 Price Changed $120,000 REALCOMP
• 2026-05-06 Price Changed $120,000 SW Michigan MLS
• 2026-04-22 Price Changed $125,000 MiRealSource-MiMLS
• 2026-04-22 Price Changed $125,000 REALCOMP
• 2026-04-22 Price Changed $125,000 SW Michigan MLS
• 2026-03-13 Price Changed $130,000 MiRealSource-MiMLS
• 2026-03-12 Price Changed $130,000 REALCOMP
• 2026-03-12 Price Changed $130,000 SW Michigan MLS
• 2026-02-27 Listed $135,000 SW Michigan MLS
• 2026-02-27 Listed $135,000 REALCOMP
• 2026-02-27 Listed $135,000 MiRealSource-MiMLS
• 2018-01-03 Sold (Public Records) $57,900 Public Records
• 2017-12-12 Sold (MLS) $57,900 SW Michigan MLS
• 2017-12-12 Sold (MLS) $57,900 REALCOMP
• 2017-10-16 Pending — SW Michigan MLS
• 2017-10-08 Listed $54,900 SW Michigan MLS
• 2017-10-05 Listed $54,900 REALCOMP
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2006-06-29 Sold (MLS) $56,660 REALCOMP
• 2006-06-29 Sold (MLS) $56,660 SW Michigan MLS
• 2005-11-08 Listed $58,900 REALCOMP
• 2005-11-08 Listed $58,900 SW Michigan MLS
• 2002-12-12 Sold (Public Records) $50,000 Public Records
• 2002-12-12 Sold (MLS) $50,000 REALCOMP
• 2002-12-12 Sold (MLS) $50,000 SW Michigan MLS
• 2002-10-08 Listed $49,900 REALCOMP
• 2002-10-08 Listed $49,900 SW Michigan MLS
• 2001-02-11 Listing Removed — REALCOMP
• 2000-09-11 Listed $51,900 REALCOMP
• 2000-09-11 Listed $51,900 SW Michigan MLS
• 1999-04-23 Sold (MLS) $24,502 REALCOMP
• 1999-04-23 Sold (MLS) $24,502 SW Michigan MLS
• 1998-12-28 Listed $24,900 REALCOMP
• 1998-12-28 Listed $24,900 SW Michigan MLS

Property tax history

+4.1%/yr

Latest (2025): $989 · +13.1% YoY. Source: county tax records.