2417 Baker St · Muskegon Heights, MI 49444

$139,900

5 bd · 2.0 ba · 1,788 sqft · MultiFamily public records · 91 Days on market

Built 1925 6,098 sqft lot Est $123k · 13% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Perfect opportunity to own a duplex and build equity while rental income helps cover the payment. Smart homeownership opportunity in Muskegon Heights! This duplex includes a dependable long-term tenant who would like to remain, providing built-in income from day one. Live in the upper unit while using the rental income to help offset your mortgage and build equity over time. Includes a garage for additional storage and convenience.

Key facts

• Long-term tenant
• Garage
• Upper unit

Tags

• DUPLEX
• LONG-TERM TENANT
• RENTAL INCOME
• UPPER UNIT
• GARAGE

Property features AI

Exterior

• Parking: 4 parking spaces
• Utilities: Public water; Public sewer; Sewer available; Electricity connected; Natural gas connected; Cable connected
• Home design: Residential income property; Multi-family
• Construction: Wood siding; Composition roof
• Exterior features: Paved road access; Public maintained road; Sidewalks

Interior

• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement; Common area laundry
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive. Per door: $278/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 8.4% in Muskegon Heights — 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 61/100 on livability (#574 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Market conditions: 237 active listings in the ZIP; 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).
• This rent runs 43% of the median local income ($53k/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 $967 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 + 3.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.04%
• DSCR: 1.76
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $123,372
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2936 Sanford St	0.70mi	4/2.0 (-1)	1,568 (-12%)	3mo	$107,900	$69	39

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: 8.3%
• Equity multiple: 1.33×
• Total profit: $12,759
• Equity at exit: $20,860

10-year hold

• IRR: 17.5%
• Equity multiple: 2.45×
• Total profit: $56,746
• Equity at exit: $12,096

Cash invested: $39,172 (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: 237
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $1,881 high
• Mortgage (P&I): −$734
• Tax from tax record: −$138 /mo · $1,654/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $556

Break-even live

Break-even rent $1,177

Max offer price $139,900

Occupancy floor 65%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,880
Total (2 units)			$1,881

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $139,900 Active 91 DOM
2. 2026-06-18
   days on market $139,900 Active 90 DOM
3. 2026-06-17
   days on market $139,900 Active 89 DOM
4. 2026-06-16
   days on market $139,900 Active 88 DOM
5. 2026-06-15
   days on market $139,900 Active 87 DOM
6. 2026-06-14
   days on market $139,900 Active 85 DOM
7. 2026-06-13
   days on market $139,900 Active 84 DOM
8. 2026-06-10
   days on market $139,900 Active 82 DOM
9. 2026-06-09
   days on market $139,900 Active 81 DOM
10. 2026-06-08
    days on market $139,900 Active 80 DOM
11. 2026-06-07
    days on market $139,900 Active 79 DOM
12. 2026-06-02
    days on market $139,900 Active 74 DOM
13. 2026-06-01
    days on market $139,900 Active 73 DOM
14. 2026-05-31
    days on market $139,900 Active 72 DOM
15. 2026-05-30
    days on market $139,900 Active 71 DOM
16. 2026-03-20
    listed $139,900 Active

    Show marketing remark (435 chars)

    Perfect opportunity to own a duplex and build equity while rental income helps cover the payment. Smart homeownership opportunity in Muskegon Heights! This duplex includes a dependable long-term tenant who would like to remain, providing built-in income from day one. Live in the upper unit while using the rental income to help offset your mortgage and build equity over time. Includes a garage for additional storage and convenience.

17. 2026-03-20
    listed $139,900 Active 435-char remark

    Show marketing remark (435 chars)

    Perfect opportunity to own a duplex and build equity while rental income helps cover the payment. Smart homeownership opportunity in Muskegon Heights! This duplex includes a dependable long-term tenant who would like to remain, providing built-in income from day one. Live in the upper unit while using the rental income to help offset your mortgage and build equity over time. Includes a garage for additional storage and convenience.

18. 2025-09-19
    soldstatus $660,000
19. 2022-06-17
    soldstatus $75,000
20. 2022-06-08
    soldstatus $75,000 Sold 399-char remark

    Show marketing remark (399 chars)

    Come see this 2 unit property in Muskegon Heights. 3 bed and 1 bath on unit one and 2 bedroom and 1 bath on unit two. Rent is at the lower end of market and could be a great addition to an investor's portfolio or for an opportunity for homeowner to live in one unit and rent out the other to offset costs. Minimum 48 hour notice required for showings and tenants may be home at the time of showings.

21. 2022-06-08
    soldstatus $75,000 Sold

    Show marketing remark (399 chars)

    Come see this 2 unit property in Muskegon Heights. 3 bed and 1 bath on unit one and 2 bedroom and 1 bath on unit two. Rent is at the lower end of market and could be a great addition to an investor's portfolio or for an opportunity for homeowner to live in one unit and rent out the other to offset costs. Minimum 48 hour notice required for showings and tenants may be home at the time of showings.

22. 2022-05-07
    status Pending 399-char remark

    Show marketing remark (399 chars)

    Come see this 2 unit property in Muskegon Heights. 3 bed and 1 bath on unit one and 2 bedroom and 1 bath on unit two. Rent is at the lower end of market and could be a great addition to an investor's portfolio or for an opportunity for homeowner to live in one unit and rent out the other to offset costs. Minimum 48 hour notice required for showings and tenants may be home at the time of showings.

23. 2022-05-07
    status Pending

    Show marketing remark (399 chars)

    Come see this 2 unit property in Muskegon Heights. 3 bed and 1 bath on unit one and 2 bedroom and 1 bath on unit two. Rent is at the lower end of market and could be a great addition to an investor's portfolio or for an opportunity for homeowner to live in one unit and rent out the other to offset costs. Minimum 48 hour notice required for showings and tenants may be home at the time of showings.

24. 2022-05-05
    listed $90,000 Active 399-char remark

    Show marketing remark (399 chars)

    Come see this 2 unit property in Muskegon Heights. 3 bed and 1 bath on unit one and 2 bedroom and 1 bath on unit two. Rent is at the lower end of market and could be a great addition to an investor's portfolio or for an opportunity for homeowner to live in one unit and rent out the other to offset costs. Minimum 48 hour notice required for showings and tenants may be home at the time of showings.

25. 2022-05-05
    listed $90,000 Active

    Show marketing remark (399 chars)

    Come see this 2 unit property in Muskegon Heights. 3 bed and 1 bath on unit one and 2 bedroom and 1 bath on unit two. Rent is at the lower end of market and could be a great addition to an investor's portfolio or for an opportunity for homeowner to live in one unit and rent out the other to offset costs. Minimum 48 hour notice required for showings and tenants may be home at the time of showings.

26. 2014-12-23
    historical
27. 2014-10-16
    historical
28. 2005-07-08
    soldstatus $49,400
29. 2005-07-08
    soldstatus $49,400
30. 2004-07-30
    listed $49,400
31. 2003-06-02
    soldstatus $32,000
32. 2003-03-22
    listed $39,900
33. 2002-09-22
    listed $49,900
34. 2002-03-25
    listed $49,900

ⓘ 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: $1,654 · $138/mo
• Projected year-2 tax: $1,904 · $159/mo
• Expected delta: +$250/yr (+$21/mo · 15.1%)

ⓘ 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: $22,572
• − Mortgage interest: −$7,837
• − Property taxes: −$1,654
• − Insurance: −$700
• − Repairs & maintenance: −$1,806
• − Management: −$1,806
• − Depreciation: −$4,070
• Taxable income: $4,700
• Est. tax owed @ 24.0%: −$1,128
• After-tax cash flow: $5,546/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)

No district data.

Livability — Muskegon Heights

• Score: 61/100
• State rank: #574
• US rank: #18269

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A Health & safety F User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Muskegon Heights, MI
• County: Muskegon County · 107,917 people
• 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

+180.4% since first listed

19 events — show timeline

• 2026-03-20 Listed $139,900 MiRealSource-MiMLS
• 2026-03-20 Listed $139,900 REALCOMP
• 2025-09-19 Sold (Public Records) $660,000 Public Records
• 2022-06-17 Sold (Public Records) $75,000 Public Records
• 2022-06-08 Sold (MLS) $75,000 SW Michigan MLS
• 2022-06-08 Sold (MLS) $75,000 REALCOMP
• 2022-05-07 Pending — REALCOMP
• 2022-05-07 Pending — SW Michigan MLS
• 2022-05-05 Listed $90,000 SW Michigan MLS
• 2022-05-05 Listed $90,000 REALCOMP
• 2014-12-23 Listing Removed — SW Michigan MLS
• 2014-10-16 Listing Removed — SW Michigan MLS
• 2005-07-08 Sold (Public Records) $49,400 Public Records
• 2005-07-08 Sold (MLS) $49,400 SW Michigan MLS
• 2004-07-30 Listed $49,400 SW Michigan MLS
• 2003-06-02 Sold (MLS) $32,000 SW Michigan MLS
• 2003-03-22 Listed $39,900 SW Michigan MLS
• 2002-09-22 Listed $49,900 SW Michigan MLS
• 2002-03-25 Listed $49,900 SW Michigan MLS

Property tax history

+1.4%/yr

Latest (2025): $1,654 · +2.8% YoY. Source: county tax records.