2482 Pembroke Dr · Norton Shores, MI 49441

$65,000

2 bd · 2.0 ba · 1,512 sqft · SingleFamily · 23 Days on market

Built 1988 Fair condition

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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 +5.0/5.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

Key facts

• Carport
• Open floor concept
• Natural light

Tags

• LARGE SHED WITH ELECTRICITY
• CARPORT
• OPEN FLOOR CONCEPT
• EXPANSIVE LIVING SPACE
• NATURAL LIGHT

🏷️ Possibly a rental listed for sale. The $65,000 price doesn't fit this home's estimated sale value (~$243,432) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $923 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.3% vs local median 3.0% 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.
• Mona Shores Public School District (suburban): math 30% / reading 48% proficiency, ranked #218 of 540 in MI (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+18.1%/yr); 268 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 31% of the median local income ($67k/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 $449 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 + 8.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $33k; list at $65k implies a 97% gain — meaningful room to come down on a strong offer.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.67% ✓
• Cap rate: 23.34%
• Cash-on-cash: 60.88%
• DSCR: 3.71
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $243,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2242 Warren Ave	0.30mi	2/1.0	1,506 (-0%)	7mo	$225,900	$150	76
2385 Lincoln St	0.40mi	3/2.0 (+1)	1,490 (-2%)	4mo	$249,900	$168	70
2169 Norman St	0.40mi	3/1.5 (+1)	1,466 (-3%)	4mo	$235,900	$161	66
2349 Lakeshore Dr	0.65mi	3/2.0 (+1)	1,539 (+2%)	1mo	$275,000	$179	61
2625 Liberty Rd	0.52mi	3/1.0 (+1)	1,524 (+1%)	6mo	$215,000	$141	61
2686 Forest Hills Rd	0.40mi	3/1.0 (+1)	1,570 (+4%)	8mo	$225,000	$143	60
2231 Hughes Ave	0.32mi	3/1.5 (+1)	1,708 (+13%)	3mo	$240,000	$141	54
2682 Pinehurst Rd	0.46mi	3/1.0 (+1)	1,586 (+5%)	12mo	$234,900	$148	52
2552 Miner Ave	0.57mi	3/2.0 (+1)	1,600 (+6%)	13mo	$265,000	$166	48
2280 Arbor Ave Ave	0.64mi	3/1.0 (+1)	1,584 (+5%)	8mo	$279,900	$177	47
2525 Morton Ave	0.48mi	3/1.0 (+1)	1,700 (+12%)	3mo	$249,000	$146	46
1974 Crozier Ave	0.74mi	3/1.5 (+1)	1,300 (-14%)	2mo	$269,000	$207	33

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: 65.3%
• Equity multiple: 4.16×
• Total profit: $57,486
• Equity at exit: $9,692

10-year hold

• IRR: 71.3%
• Equity multiple: 10.21×
• Total profit: $167,684
• Equity at exit: $5,620

Cash invested: $18,200 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,737 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $923

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 42%

Sensitivity live

Price	-10% $968	-5% $946	+0% $923	+5% $901	+10% $878
Rent	-10% $786	-5% $855	+0% $923	+5% $992	+10% $1,061
Rate	-1.0pp $956	-0.5pp $940	base $923	+0.5pp $907	+1.0pp $889

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2185 Moon St Muskegon, MI	3.0	2.0	1921	$2,600	$1.35	21d	1	0.89mi

Listing history 30 events

1. 2026-06-19
   days on market $65,000 Active 23 DOM
2. 2026-06-18
   days on market $65,000 Active 22 DOM
3. 2026-06-17
   days on market $65,000 Active 21 DOM
4. 2026-06-16
   days on market $65,000 Active 20 DOM
5. 2026-06-15
   days on market $65,000 Active 19 DOM
6. 2026-06-14
   days on market $65,000 Active 17 DOM
7. 2026-06-13
   days on market $65,000 Active 16 DOM
8. 2026-06-10
   days on market $65,000 Active 14 DOM
9. 2026-06-09
   days on market $65,000 Active 13 DOM
10. 2026-06-08
    days on market $65,000 Active 12 DOM
11. 2026-06-07
    days on market $65,000 Active 11 DOM
12. 2026-06-05
    days on market $65,000 Active 8 DOM
13. 2026-06-02
    days on market $65,000 Active 6 DOM
14. 2026-06-01
    days on market $65,000 Active 5 DOM
15. 2026-05-31
    days on market $65,000 Active 4 DOM
16. 2026-05-30
    days on market $65,000 Active 3 DOM
17. 2026-05-28
    listed $65,000 Active
18. 2022-05-18
    soldstatus $33,000 Sold 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

19. 2022-05-18
    soldstatus $33,000 Sold 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

20. 2022-04-30
    status Pending 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

21. 2022-04-30
    status Pending 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

22. 2022-03-25
    price $35,500 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

23. 2022-03-25
    price $35,500 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

24. 2022-03-23
    price $42,000 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

25. 2022-03-23
    price $42,000 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

26. 2022-02-24
    price $45,000 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

27. 2022-02-24
    price $45,000 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

28. 2022-02-15
    listed $50,000 Active 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

29. 2022-02-15
    listed $50,000 Active 431-char remark

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

30. 2022-02-15
    listed $35,500

    Show marketing remark (431 chars)

    Welcome to 2482 Pembroke Drive located in Bel Air Estates. This mobile home features 2 bedrooms and 2 full bathrooms with large walk-in closets. Enjoy the open floor concept with an expansive living space that brings in a ton of natural light. This home has been meticulously maintained over the years and it shows! Lot rent= $395 per month. Trash = $7 per month. Water/Sewer are billed separately. Call today for your private tour

ⓘ 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: $20,849
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$1,891
• Taxable income: $10,682
• Est. tax owed @ 24.0%: −$2,564
• After-tax cash flow: $8,517/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 · 1 photo

Fair 45/100 Moderate rehab

This mobile home requires extensive repairs and maintenance to improve its condition and increase its value. Significant work is needed on the exterior, roof, flooring, interior, windows, foundation, HVAC, and landscaping.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — No visible damage, but age is unknown
• Major flooring — No visible flooring, but age is unknown
• Major interior walls/paint — No visible interior, but age is unknown
• Major windows — No visible windows, but age is unknown
• Major foundation/structure — No visible foundation, but age is unknown
• Major HVAC/mechanicals — No visible HVAC/mechanicals, but age is unknown
• Major landscaping — Sparse vegetation, unkempt appearance

Value-add opportunities

• Both repair and paint exterior — Enhances curb appeal and value
• Both repair roof — Critical for structural integrity and value
• Both replace flooring — Improves living space and value
• Both paint interior — Enhances interior appearance and value
• Both repair windows — Improves energy efficiency and value
• Both repair foundation — Ensures structural stability and value
• Both replace HVAC/mechanicals — Improves comfort and energy efficiency
• Both landscape — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but age is unknown	Major	$15,000–50,000
flooring · No visible flooring, but age is unknown	Major	$15,000–50,000
interior walls/paint · No visible interior, but age is unknown	Major	$15,000–50,000
windows · No visible windows, but age is unknown	Major	$15,000–50,000
foundation/structure · No visible foundation, but age is unknown	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC/mechanicals, but age is unknown	Major	$15,000–50,000
landscaping · Sparse vegetation, unkempt appearance	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both repair and paint exterior — Enhances curb appeal and value ↑
• Both repair roof — Critical for structural integrity and value ↑
• Both replace flooring — Improves living space and value ↑
• Both paint interior — Enhances interior appearance and value ↑
• Both repair windows — Improves energy efficiency and value ↑
• Both repair foundation — Ensures structural stability and value ↑
• Both replace HVAC/mechanicals — Improves comfort and energy efficiency ↑
• Both landscape — Enhances curb appeal and value ↑

ⓘ 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: Mona Shores Public School District
• NCES district ID: 2624120
• Math proficiency: 30% ▼ -8.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $52,748
• Composite: 33.86/100
• National rank: #5352
• State rank: #218 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): 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

+30.0% since first listed

14 events — show timeline

• 2026-05-28 Listed $65,000 FSBO.com
• 2022-05-18 Sold (MLS) $33,000 SW Michigan MLS
• 2022-05-18 Sold (MLS) $33,000 REALCOMP
• 2022-04-30 Pending — SW Michigan MLS
• 2022-04-30 Pending — REALCOMP
• 2022-03-25 Price Changed $35,500 REALCOMP
• 2022-03-25 Price Changed $35,500 SW Michigan MLS
• 2022-03-23 Price Changed $42,000 REALCOMP
• 2022-03-23 Price Changed $42,000 SW Michigan MLS
• 2022-02-24 Price Changed $45,000 REALCOMP
• 2022-02-24 Price Changed $45,000 SW Michigan MLS
• 2022-02-15 Listed $35,500 MiRealSource-MiMLS
• 2022-02-15 Listed $50,000 SW Michigan MLS
• 2022-02-15 Listed $50,000 REALCOMP