2741 Roberts St · Norton Shores, MI 49444

$74,900

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 75 Days on market

Built 1938 10,019 sqft lot Est $130k · 42% under

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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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

Key facts

• Quiet area
• 0.23 acre lot
• Built 1938

Tags

• CLOSE TO THE HOSPITAL
• QUIET AREA

Property features AI

Exterior

• Utilities: Natural gas available; Electricity available
• Home design: Ranch-style single-family home; One story
• Construction: Vinyl siding; Built in 1938; Slab basement
• Exterior features: Paved road access; Public water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Storm windows and screens; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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.
• 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.
• Zoned schools: Muskegon Middle School (math 4% / reading 13%, grade F, #480 of 493 statewide, top 97%, 755 students, 87% FRL); Muskegon High School (math 8% / reading 27%, grade F, #632 of 713 statewide, top 89%, 1,039 students, 84% FRL) — zoned schools at 85% FRL track the district average.
• Market conditions: 239 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $518 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $21k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 28y ago; this cycle's ask has dropped $15k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.47% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.41%
• DSCR: 1.60
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $129,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2847 Mc Dermott St	0.12mi	2/1.0	874 (+1%)	3mo	$148,000	$169	90
1312 E Broadway Ave	0.13mi	2/1.0	834 (-4%)	6mo	$156,000	$187	83
2720 Worden St	0.20mi	2/1.0	804 (-7%)	2mo	$105,250	$131	77
2754 Huizenga St	0.21mi	3/1.0 (+1)	900 (+4%)	9mo	$115,000	$128	70
1200 E Broadway Ave	0.05mi	3/1.0 (+1)	936 (+8%)	10mo	$129,000	$138	70
2657 Roberts St	0.11mi	3/2.0 (+1)	955 (+10%)	2mo	$143,000	$150	66
2892 Bailey St	0.18mi	2/1.0	950 (+10%)	16mo	$130,000	$137	62
2962 Stratford St	0.50mi	3/1.0 (+1)	900 (+4%)	9mo	$165,000	$183	57
2921 Continental St	0.53mi	2/1.0	902 (+4%)	13mo	$97,900	$109	57
2905 Kooi St	0.54mi	3/1.0 (+1)	840 (-3%)	12mo	$219,000	$261	55
2278 Austin St	0.70mi	2/1.0	816 (-6%)	6mo	$120,000	$147	54
3049 Kooi St	0.67mi	2/1.0	924 (+7%)	10mo	$158,900	$172	49

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: 3.5%
• Equity multiple: 1.14×
• Total profit: $2,873
• Equity at exit: $11,168

10-year hold

• IRR: 13.2%
• Equity multiple: 2.05×
• Total profit: $22,074
• Equity at exit: $6,476

Cash invested: $20,972 (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 49444

• Active inventory: 239
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$211 /mo · $2,527/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $234

Break-even live

Break-even rent $803

Max offer price $74,900

Occupancy floor 74%

Sensitivity live

Price	-10% $277	-5% $255	+0% $234	+5% $213	+10% $192
Rent	-10% $147	-5% $191	+0% $234	+5% $278	+10% $321
Rate	-1.0pp $272	-0.5pp $253	base $234	+0.5pp $215	+1.0pp $195

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3223 Bailey St Norton Shores, MI	2.0–3.0	2.0	1096	$1,249	$1.14	23d	1	0.54mi
232 E Lincoln Ave Muskegon, MI	2.0	1.0	1020	$1,100	$1.08	23d	1	1.30mi

Listing history 26 events

1. 2026-05-06
   status Pending 236-char remark

   Show marketing remark (236 chars)

   Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

2. 2026-05-06
   status Pending 236-char remark

   Show marketing remark (236 chars)

   Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

3. 2026-05-06
   status Pending

   Show marketing remark (236 chars)

   Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

4. 2026-04-17
   price $74,900 236-char remark

   Show marketing remark (236 chars)

   Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

5. 2026-04-17
   price $74,900 236-char remark

   Show marketing remark (236 chars)

   Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

6. 2026-04-17
   price $74,900

   Show marketing remark (236 chars)

   Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

7. 2026-03-13
   price $84,900 236-char remark

   Show marketing remark (236 chars)

   Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

8. 2026-03-13
   price $84,900 236-char remark

   Show marketing remark (236 chars)

   Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

9. 2026-03-13
   price $84,900

   Show marketing remark (236 chars)

   Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

10. 2026-02-21
    listed $89,900 Active 236-char remark

    Show marketing remark (236 chars)

    Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

11. 2026-02-20
    listed $89,900 Active 236-char remark

    Show marketing remark (236 chars)

    Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

12. 2026-02-20
    listed $89,900 Active

    Show marketing remark (236 chars)

    Perfect starter investment property. Solid area, close to the hospital. Quiet area. Home needs some repair and love but its great potential for rental or to just buy your first home and put in some sweat equity. Call today for a showing

13. 2023-01-17
    soldstatus $171,000
14. 2023-01-10
    soldstatus $48,666 Sold
15. 2023-01-10
    soldstatus $48,666 Sold
16. 2023-01-10
    soldstatus $48,666 Closed
17. 2022-12-27
    status Pending
18. 2022-12-27
    status Pending
19. 2022-12-27
    status Pending
20. 2022-12-19
    listed $44,900 Active
21. 2022-12-19
    listed $44,900 Active
22. 2022-12-19
    listed $44,900 Active
23. 1998-07-16
    soldstatus $33,600
24. 1998-07-16
    soldstatus $33,600
25. 1998-04-13
    listed $29,900
26. 1998-04-13
    listed $29,900

ⓘ 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: $2,527 · $211/mo
• Projected year-2 tax: $2,527 · $211/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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) · 22% 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: $13,198
• − Mortgage interest: −$4,196
• − Property taxes: −$2,527
• − Insurance: −$374
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$2,179
• Taxable income: $1,810
• Est. tax owed @ 24.0%: −$434
• After-tax cash flow: $2,377/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 — 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): 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

+150.5% since first listed

26 events — show timeline

• 2026-05-06 Pending — REALCOMP
• 2026-05-06 Pending — MiRealSource-MiMLS
• 2026-05-06 Pending — SW Michigan MLS
• 2026-04-17 Price Changed $74,900 MiRealSource-MiMLS
• 2026-04-17 Price Changed $74,900 REALCOMP
• 2026-04-17 Price Changed $74,900 SW Michigan MLS
• 2026-03-13 Price Changed $84,900 MiRealSource-MiMLS
• 2026-03-13 Price Changed $84,900 REALCOMP
• 2026-03-13 Price Changed $84,900 SW Michigan MLS
• 2026-02-21 Listed $89,900 REALCOMP
• 2026-02-20 Listed $89,900 SW Michigan MLS
• 2026-02-20 Listed $89,900 MiRealSource-MiMLS
• 2023-01-17 Sold (Public Records) $171,000 Public Records
• 2023-01-10 Sold (MLS) $48,666 MiRealSource-MiMLS
• 2023-01-10 Sold (MLS) $48,666 SW Michigan MLS
• 2023-01-10 Sold (MLS) $48,666 REALCOMP
• 2022-12-27 Pending — REALCOMP
• 2022-12-27 Pending — MiRealSource-MiMLS
• 2022-12-27 Pending — SW Michigan MLS
• 2022-12-19 Listed $44,900 MiRealSource-MiMLS
• 2022-12-19 Listed $44,900 SW Michigan MLS
• 2022-12-19 Listed $44,900 REALCOMP
• 1998-07-16 Sold (MLS) $33,600 REALCOMP
• 1998-07-16 Sold (MLS) $33,600 SW Michigan MLS
• 1998-04-13 Listed $29,900 REALCOMP
• 1998-04-13 Listed $29,900 SW Michigan MLS

Property tax history

+10.6%/yr

Latest (2025): $2,527 · +2.7% YoY. Source: county tax records.