1267 Graf St · Muskegon, MI 49442

$149,900

3 bd · 1.0 ba · 832 sqft · SingleFamily public records · 48 Days on market

Built 1930 7,492 sqft lot $180/sqft · 6% above area Est $177k · 15% 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 +17.6/30.0
• ARV discount +14.3/15.0
• DSCR +5.5/10.0
• Rent growth +4.6/5.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-designed 3-bedroom home offering over 1,000 square feet of efficient, comfortable living space with a layout that truly works. The spacious living room is filled with natural light and flows seamlessly into the eat-in kitchen, creating an ideal setup for both everyday living and entertaining. The main level features two well-sized bedrooms and a full bath, while the primary bedroom provides a private and comfortable retreat. Every area of the home is thoughtfully arranged to maximize space, flow, and functionality. The lower level adds valuable additional space with room for a recreation area, home office, or flexible use, along with dedicated storage and a large utility area offering both convenience and future potential. Conveniently located near shopping, dining, and major roadways, this home offers a strong combination of layout, space, and value.

Key facts

• 7,492 sq ft lot
• Garage
• Built 1930

Property features AI

Finance

• Other: Property type: Residential single-family residence; Living area reported as 1,041 (units not shown)
• Financial info: Tax details not included per instructions
• HOA & community: Has association

Exterior

• Parking: Tandem parking; 1-car garage (detached)
• Security: Not specified
• Utilities: Public water; Sewer and power not specified
• Home design: Single-family ranch-style residence; Built in 1930; Facing direction not specified; Entry level not specified; 1 story (ranch)
• Construction: Wood siding construction; Year built 1930
• Exterior features: Unimproved road surface; 0.3-acre lot

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher not listed
• Bedrooms: Not specified
• Flooring: Not specified
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: 2 total rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/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 $136k (9.0% below list).
• Recommended offer: $136k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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.
• Orchard View Schools (rural): math 12% / reading 25% proficiency, ranked #479 of 540 in MI (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.2%/yr); 289 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 34% 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 $1k 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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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.
• Current owner paid $34k; list at $150k implies a 341% 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 $136,447 (9.0% below list)

Questions for the listing agent

1. It's been on market 48 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 9.2

CMA / ARV

• ARV (median comp): $176,547
• List price: $149,900
• Delta: -15.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1341 Mclaughlin Ave	0.39mi	3/1.0	830 (-0%)	8mo	$185,000	$223	74
1255 Langeland Ave	0.51mi	2/1.0 (-1)	792 (-5%)	2mo	$109,900	$139	61
1647 New St	0.53mi	3/1.0	900 (+8%)	2mo	$130,000	$144	60
1666 New St	0.54mi	3/1.0	920 (+11%)	4mo	$129,900	$141	54
1318 Catherine Ave	0.44mi	2/1.0 (-1)	760 (-9%)	8mo	$87,500	$115	53
1885 E Isabella Ave	0.36mi	2/1.0 (-1)	720 (-14%)	6mo	$110,000	$153	51
1147 Mclaughlin Ave	0.63mi	2/1.0 (-1)	902 (+8%)	1mo	$145,000	$161	50
1060 Green St	0.65mi	3/1.0	948 (+14%)	0mo	$173,000	$182	46
1146 Kampenga Ave	0.69mi	2/1.0 (-1)	768 (-8%)	9mo	$154,000	$201	42
936 West St	0.72mi	2/1.0 (-1)	920 (+11%)	4mo	$150,000	$163	40
1485 West St	0.62mi	2/1.0 (-1)	720 (-14%)	5mo	$115,000	$160	40
1192 Oak Grove St	0.68mi	2/1.0 (-1)	720 (-14%)	6mo	$129,900	$180	36

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: -5.9%
• Equity multiple: 0.77×
• Total profit: $-9,574
• Equity at exit: $22,351

10-year hold

• IRR: 8.7%
• Equity multiple: 1.81×
• Total profit: $34,074
• Equity at exit: $12,961

Cash invested: $41,972 (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: 9.2×

Monthly cashflow live

• Estimated rent: $1,364 high
• Mortgage (P&I): −$786
• Tax from tax record: −$111 /mo · $1,334/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $118

Break-even live

Break-even rent $1,215

Max offer price $149,900

Occupancy floor 86%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 Glen Oaks Dr Muskegon, MI	1.0–2.0	1.0	638	$1,204	$1.89	20d	55	0.99mi
1126 Holt St Muskegon, MI	2.0	1.0	708	$1,095	$1.55	20d	1	1.16mi
221 Donald St Muskegon, MI	2.0	1.0	768	$1,600	$2.08	20d	1	1.35mi
1000 Marquette Ave Muskegon, MI	1.0–3.0	1.0–1.5	870	$1,270	$1.46	20d	1	1.42mi
860 Marquette Ave Unit 15 Muskegon, MI	2.0	1.0	1080	$1,325	$1.23	43d	1	1.49mi
860 Marquette Ave Unit 16 Muskegon, MI	2.0	1.0	1080	$1,250	$1.16	20d	1	1.49mi

Listing history 18 events

1. 2026-06-13
   statusdays on market $149,900 Pending 48 DOM
2. 2026-06-10
   days on market $149,900 Active 46 DOM
3. 2026-06-09
   days on market $149,900 Active 45 DOM
4. 2026-06-08
   days on market $149,900 Active 44 DOM
5. 2026-06-07
   days on market $149,900 Active 43 DOM
6. 2026-06-05
   days on market $149,900 Active 40 DOM
7. 2026-06-03
   days on market $149,900 Active 39 DOM
8. 2026-06-02
   days on market $149,900 Active 38 DOM
9. 2026-06-01
   days on market $149,900 Active 37 DOM
10. 2026-05-31
    days on market $149,900 Active 36 DOM
11. 2026-05-30
    days on market $149,900 Active 35 DOM
12. 2026-04-25
    listed $149,900 Active 884-char remark

    Show marketing remark (884 chars)

    Welcome to this well-designed 3-bedroom home offering over 1,000 square feet of efficient, comfortable living space with a layout that truly works. The spacious living room is filled with natural light and flows seamlessly into the eat-in kitchen, creating an ideal setup for both everyday living and entertaining. The main level features two well-sized bedrooms and a full bath, while the primary bedroom provides a private and comfortable retreat. Every area of the home is thoughtfully arranged to maximize space, flow, and functionality. The lower level adds valuable additional space with room for a recreation area, home office, or flexible use, along with dedicated storage and a large utility area offering both convenience and future potential. Conveniently located near shopping, dining, and major roadways, this home offers a strong combination of layout, space, and value.

13. 2026-04-25
    listed $149,900 Active 887-char remark

    Show marketing remark (884 chars)

    Welcome to this well-designed 3-bedroom home offering over 1,000 square feet of efficient, comfortable living space with a layout that truly works. The spacious living room is filled with natural light and flows seamlessly into the eat-in kitchen, creating an ideal setup for both everyday living and entertaining. The main level features two well-sized bedrooms and a full bath, while the primary bedroom provides a private and comfortable retreat. Every area of the home is thoughtfully arranged to maximize space, flow, and functionality. The lower level adds valuable additional space with room for a recreation area, home office, or flexible use, along with dedicated storage and a large utility area offering both convenience and future potential. Conveniently located near shopping, dining, and major roadways, this home offers a strong combination of layout, space, and value.

14. 2026-04-25
    listed $149,900 Active

    Show marketing remark (884 chars)

    Welcome to this well-designed 3-bedroom home offering over 1,000 square feet of efficient, comfortable living space with a layout that truly works. The spacious living room is filled with natural light and flows seamlessly into the eat-in kitchen, creating an ideal setup for both everyday living and entertaining. The main level features two well-sized bedrooms and a full bath, while the primary bedroom provides a private and comfortable retreat. Every area of the home is thoughtfully arranged to maximize space, flow, and functionality. The lower level adds valuable additional space with room for a recreation area, home office, or flexible use, along with dedicated storage and a large utility area offering both convenience and future potential. Conveniently located near shopping, dining, and major roadways, this home offers a strong combination of layout, space, and value.

15. 2008-09-08
    soldstatus $34,000
16. 2008-09-08
    soldstatus $34,000
17. 2008-04-22
    listed $34,000
18. 2008-04-22
    listed $34,000

ⓘ 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: $1,334 · $111/mo
• Projected year-2 tax: $1,821 · $152/mo
• Expected delta: +$487/yr (+$41/mo · 36.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $16,374
• − Mortgage interest: −$8,397
• − Property taxes: −$1,334
• − Insurance: −$750
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$4,361
• Taxable loss: −$1,087
• Est. tax savings @ 24.0%: +$261
• After-tax cash flow: $1,680/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: Orchard View Schools
• NCES district ID: 2626760
• Math proficiency: 12% ▼ -8.00%
• Reading proficiency: 25% ▼ -4.00%
• Median HH income: $37,637
• Composite: 15.44/100
• National rank: #9314
• State rank: #479 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): 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

+340.9% since first listed

10 events — show timeline

• 2026-06-12 Pending — REALCOMP
• 2026-06-12 Pending — MiRealSource-MiMLS
• 2026-06-12 Pending — SW Michigan MLS
• 2026-04-25 Listed $149,900 REALCOMP
• 2026-04-25 Listed $149,900 SW Michigan MLS
• 2026-04-25 Listed $149,900 MiRealSource-MiMLS
• 2008-09-08 Sold (MLS) $34,000 REALCOMP
• 2008-09-08 Sold (MLS) $34,000 SW Michigan MLS
• 2008-04-22 Listed $34,000 REALCOMP
• 2008-04-22 Listed $34,000 SW Michigan MLS

Property tax history

+6.0%/yr

Latest (2025): $1,334 · -2.9% YoY. Source: county tax records.