324 Merrill Ave · Muskegon, MI 49441

$140,000

4 bd · 1.0 ba · 1,436 sqft · SingleFamily public records · 9 Days on market

Built 1900 5,793 sqft lot Est $174k · 19% 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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.4/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 4-bedroom, 1.5-bath home just minutes from downtown Muskegon! Featuring beautiful hardwood flooring throughout and an open-concept layout, this home offers both character and functionality. Enjoy a spacious backyard perfect for entertaining, complete with a back porch to relax and unwind. Brand new roof in May 2026, giving peace of mind for years to come. Whether you're looking for a primary residence or an investment opportunity, this home also offers a solid rental history. Conveniently located near downtown shops, restaurants, and Lake Michigan, this one checks all the boxes!

Key facts

• Hardwood flooring
• Spacious backyard
• Solid rental history

Tags

• HARDWOOD FLOORING
• OPEN-CONCEPT LAYOUT
• SPACIOUS BACKYARD
• BACK PORCH
• NEW ROOF
• SOLID RENTAL HISTORY

Property features AI

Exterior

• Utilities: Public water; Natural gas connected; Electric water heater
• Home design: Single-family residence; Residential property type
• Construction: Vinyl siding; Composition roof; Built in 1900
• Exterior features: Sidewalk; Paved road

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Bedroom 5
• Bathrooms: 1 full bathroom; 1 half bathroom; Primary bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Replacement windows with window treatments; 9 total rooms; Full basement
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.7% 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 (+18.1%/yr); 268 active listings in the ZIP; 10 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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 $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 29y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1900 — 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 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?
4. 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?
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: 1.14% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.43%
• DSCR: 1.37
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $173,756
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
352 Mason Ave	0.12mi	3/2.5 (-1)	1,456 (+1%)	2mo	$255,000	$175	79
213 Merrill Ave	0.18mi	3/2.5 (-1)	1,482 (+3%)	3mo	$265,000	$179	73
209 Merrill Ave	0.18mi	3/2.5 (-1)	1,482 (+3%)	6mo	$249,900	$169	70
314 W Southern Ave	0.30mi	4/1.5	1,558 (+8%)	2mo	$141,400	$91	69
1119 Pine St	0.60mi	4/1.0	1,480 (+3%)	2mo	$189,000	$128	65
1528 Clinton St	0.54mi	4/1.0	1,400 (-2%)	7mo	$118,500	$85	65
1138 Sanford St	0.39mi	3/2.0 (-1)	1,364 (-5%)	2mo	$215,000	$158	63
1704 7th St	0.50mi	3/1.0 (-1)	1,360 (-5%)	6mo	$165,000	$121	58
1759 Jefferson St	0.62mi	3/1.0 (-1)	1,464 (+2%)	7mo	$140,000	$96	57
1532 Leahy St	0.65mi	3/1.0 (-1)	1,376 (-4%)	3mo	$118,850	$86	55
1643 Henry St	0.70mi	3/1.0 (-1)	1,360 (-5%)	8mo	$48,500	$36	47
257 Catherine Ave	0.72mi	3/1.0 (-1)	1,311 (-9%)	3mo	$108,000	$82	45

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $3,305
• Equity at exit: $20,874

10-year hold

• IRR: 16.1%
• Equity multiple: 2.63×
• Total profit: $63,944
• Equity at exit: $12,105

Cash invested: $39,200 (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: 268
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,595 high
• Mortgage (P&I): −$734
• Tax from tax record: −$192 /mo · $2,303/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $275

Break-even live

Break-even rent $1,246

Max offer price $140,000

Occupancy floor 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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
449 Washington Ave Muskegon, MI	3.0	2.0	1152	$1,695	$1.47	21d	1	0.23mi
80 E Grand Ave Muskegon, MI	3.0	1.5	1200	$1,300	$1.08	21d	1	0.54mi
1644 Beidler St Muskegon, MI	3.0	2.0	1228	$1,700	$1.38	21d	1	0.62mi
1188 Spring St Muskegon, MI	3.0	1.0	1443	$1,500	$1.04	21d	1	0.76mi
310 Allen Ave Unit 2 Muskegon, MI	3.0	3.0	1100	$1,490	$1.35	21d	1	0.92mi
384 Iona Ave Muskegon, MI	3.0	1.0	1194	$1,275	$1.07	21d	1	0.93mi
313 Orchard Ave Unit 2 Muskegon, MI	3.0	3.0	1279	$1,475	$1.15	21d	1	0.97mi
313 Orchard Ave Unit 1 Muskegon, MI	3.0	3.0	1121	$1,575	$1.40	21d	1	0.97mi
2065 Dowd St Muskegon, MI	3.0	2.0	1228	$1,695	$1.38	21d	1	1.24mi
2073 Dowd St Muskegon, MI	3.0	2.5	1228	$1,750	$1.43	21d	1	1.26mi

Listing history 30 events

1. 2026-05-22
   status Pending 610-char remark

   Show marketing remark (610 chars)

   Welcome to this charming 4-bedroom, 1.5-bath home just minutes from downtown Muskegon! Featuring beautiful hardwood flooring throughout and an open-concept layout, this home offers both character and functionality. Enjoy a spacious backyard perfect for entertaining, complete with a back porch to relax and unwind. Brand new roof in May 2026, giving peace of mind for years to come. Whether you're looking for a primary residence or an investment opportunity, this home also offers a solid rental history. Conveniently located near downtown shops, restaurants, and Lake Michigan, this one checks all the boxes!

2. 2026-05-22
   status Pending 610-char remark

   Show marketing remark (610 chars)

   Welcome to this charming 4-bedroom, 1.5-bath home just minutes from downtown Muskegon! Featuring beautiful hardwood flooring throughout and an open-concept layout, this home offers both character and functionality. Enjoy a spacious backyard perfect for entertaining, complete with a back porch to relax and unwind. Brand new roof in May 2026, giving peace of mind for years to come. Whether you're looking for a primary residence or an investment opportunity, this home also offers a solid rental history. Conveniently located near downtown shops, restaurants, and Lake Michigan, this one checks all the boxes!

3. 2026-05-22
   status Pending

   Show marketing remark (610 chars)

   Welcome to this charming 4-bedroom, 1.5-bath home just minutes from downtown Muskegon! Featuring beautiful hardwood flooring throughout and an open-concept layout, this home offers both character and functionality. Enjoy a spacious backyard perfect for entertaining, complete with a back porch to relax and unwind. Brand new roof in May 2026, giving peace of mind for years to come. Whether you're looking for a primary residence or an investment opportunity, this home also offers a solid rental history. Conveniently located near downtown shops, restaurants, and Lake Michigan, this one checks all the boxes!

4. 2026-05-20
   historical Active Under Contract 610-char remark

   Show marketing remark (610 chars)

   Welcome to this charming 4-bedroom, 1.5-bath home just minutes from downtown Muskegon! Featuring beautiful hardwood flooring throughout and an open-concept layout, this home offers both character and functionality. Enjoy a spacious backyard perfect for entertaining, complete with a back porch to relax and unwind. Brand new roof in May 2026, giving peace of mind for years to come. Whether you're looking for a primary residence or an investment opportunity, this home also offers a solid rental history. Conveniently located near downtown shops, restaurants, and Lake Michigan, this one checks all the boxes!

5. 2026-05-20
   historical Keep Showing-Contgcy Appl 610-char remark

   Show marketing remark (610 chars)

   Welcome to this charming 4-bedroom, 1.5-bath home just minutes from downtown Muskegon! Featuring beautiful hardwood flooring throughout and an open-concept layout, this home offers both character and functionality. Enjoy a spacious backyard perfect for entertaining, complete with a back porch to relax and unwind. Brand new roof in May 2026, giving peace of mind for years to come. Whether you're looking for a primary residence or an investment opportunity, this home also offers a solid rental history. Conveniently located near downtown shops, restaurants, and Lake Michigan, this one checks all the boxes!

6. 2026-05-20
   historical Active - Contingent

   Show marketing remark (610 chars)

   Welcome to this charming 4-bedroom, 1.5-bath home just minutes from downtown Muskegon! Featuring beautiful hardwood flooring throughout and an open-concept layout, this home offers both character and functionality. Enjoy a spacious backyard perfect for entertaining, complete with a back porch to relax and unwind. Brand new roof in May 2026, giving peace of mind for years to come. Whether you're looking for a primary residence or an investment opportunity, this home also offers a solid rental history. Conveniently located near downtown shops, restaurants, and Lake Michigan, this one checks all the boxes!

7. 2026-05-13
   listed $140,000 Active 610-char remark

   Show marketing remark (610 chars)

   Welcome to this charming 4-bedroom, 1.5-bath home just minutes from downtown Muskegon! Featuring beautiful hardwood flooring throughout and an open-concept layout, this home offers both character and functionality. Enjoy a spacious backyard perfect for entertaining, complete with a back porch to relax and unwind. Brand new roof in May 2026, giving peace of mind for years to come. Whether you're looking for a primary residence or an investment opportunity, this home also offers a solid rental history. Conveniently located near downtown shops, restaurants, and Lake Michigan, this one checks all the boxes!

8. 2026-05-13
   listed $140,000 Active 610-char remark

   Show marketing remark (610 chars)

   Welcome to this charming 4-bedroom, 1.5-bath home just minutes from downtown Muskegon! Featuring beautiful hardwood flooring throughout and an open-concept layout, this home offers both character and functionality. Enjoy a spacious backyard perfect for entertaining, complete with a back porch to relax and unwind. Brand new roof in May 2026, giving peace of mind for years to come. Whether you're looking for a primary residence or an investment opportunity, this home also offers a solid rental history. Conveniently located near downtown shops, restaurants, and Lake Michigan, this one checks all the boxes!

9. 2026-05-13
   listed $140,000 Active

   Show marketing remark (610 chars)

   Welcome to this charming 4-bedroom, 1.5-bath home just minutes from downtown Muskegon! Featuring beautiful hardwood flooring throughout and an open-concept layout, this home offers both character and functionality. Enjoy a spacious backyard perfect for entertaining, complete with a back porch to relax and unwind. Brand new roof in May 2026, giving peace of mind for years to come. Whether you're looking for a primary residence or an investment opportunity, this home also offers a solid rental history. Conveniently located near downtown shops, restaurants, and Lake Michigan, this one checks all the boxes!

10. 2024-05-01
    historical $1,250
11. 2024-04-27
    listed $1,250
12. 2021-07-13
    soldstatus $640,000
13. 2017-10-04
    soldstatus $38,500
14. 2017-10-04
    soldstatus $38,500 Sold
15. 2017-09-22
    status Pending
16. 2017-09-14
    listed $39,000 Active
17. 2017-09-12
    listed $39,000
18. 2015-03-13
    soldstatus $15,020
19. 2015-03-13
    soldstatus $15,020
20. 2014-12-12
    listed $16,900
21. 2014-12-12
    listed $16,900
22. 2014-09-15
    historical
23. 2013-08-22
    soldstatus $4,000
24. 2013-08-22
    soldstatus $4,000
25. 2013-05-06
    listed $4,900
26. 2013-05-06
    listed $4,900
27. 2002-08-02
    soldstatus $41,000
28. 1998-11-30
    historical
29. 1997-11-21
    listed $30,000
30. 1997-11-21
    listed $30,000

ⓘ 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: $2,303 · $192/mo
• Projected year-2 tax: $2,303 · $192/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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,134
• − Mortgage interest: −$7,842
• − Property taxes: −$2,303
• − Insurance: −$700
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − Depreciation: −$4,073
• Taxable income: $1,155
• Est. tax owed @ 24.0%: −$277
• After-tax cash flow: $3,026/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): 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

+366.7% since first listed

30 events — show timeline

• 2026-05-22 Pending — MiRealSource-MiMLS
• 2026-05-22 Pending — REALCOMP
• 2026-05-22 Pending — SW Michigan MLS
• 2026-05-20 Contingent — REALCOMP
• 2026-05-20 Contingent — MiRealSource-MiMLS
• 2026-05-20 Contingent — SW Michigan MLS
• 2026-05-13 Listed $140,000 REALCOMP
• 2026-05-13 Listed $140,000 SW Michigan MLS
• 2026-05-13 Listed $140,000 MiRealSource-MiMLS
• 2024-05-01 Rental Removed $1,250 BUILDIUM
• 2024-04-27 Listed for Rent $1,250 BUILDIUM
• 2021-07-13 Sold (Public Records) $640,000 Public Records
• 2017-10-04 Sold (MLS) $38,500 SW Michigan MLS
• 2017-10-04 Sold (MLS) $38,500 REALCOMP
• 2017-09-22 Pending — SW Michigan MLS
• 2017-09-14 Listed $39,000 SW Michigan MLS
• 2017-09-12 Listed $39,000 REALCOMP
• 2015-03-13 Sold (MLS) $15,020 SW Michigan MLS
• 2015-03-13 Sold (MLS) $15,020 REALCOMP
• 2014-12-12 Listed $16,900 SW Michigan MLS
• 2014-12-12 Listed $16,900 REALCOMP
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2013-08-22 Sold (MLS) $4,000 REALCOMP
• 2013-08-22 Sold (MLS) $4,000 SW Michigan MLS
• 2013-05-06 Listed $4,900 REALCOMP
• 2013-05-06 Listed $4,900 SW Michigan MLS
• 2002-08-02 Sold (Public Records) $41,000 Public Records
• 1998-11-30 Listing Removed — REALCOMP
• 1997-11-21 Listed $30,000 REALCOMP
• 1997-11-21 Listed $30,000 SW Michigan MLS

Property tax history

+30.5%/yr

Latest (2025): $2,303 · +2.2% YoY. Source: county tax records.