3013 Leahy St · Muskegon Heights, MI 49444

$89,900

2 bd · 1.0 ba · 966 sqft · SingleFamily public records · 8 Days on market

Built 1920 5,009 sqft lot Est $94k · at est.

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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 +27.2/30.0
• DSCR +9.5/10.0
• ARV discount +9.3/15.0
• 1% rule +6.6/10.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready 2 bedroom 1 bath home in City of Muskegon Heights. This home offers an open concept living and dining area, enclosed porch, and partial basement. Kitchen offers access to the back yard with a firepit and patio. This home has vinyl siding, replacement windows, and a newer roof. Situated on a one-block-long road of well maintained homes. Great opportunity for a homeowner or turn-key rental opportunity. Buyer to verify all information.

Key facts

• Open concept living
• Firepit
• Partial basement

Tags

• OPEN CONCEPT LIVING
• ENCLOSED PORCH
• PARTIAL BASEMENT
• FIREPIT
• PATIO
• VINYL SIDING

Property features AI

Exterior

• Utilities: Natural gas water heater; Public water service
• Home design: Single family residence; Residential property; Built in 1920
• Construction: Vinyl siding; Composition roof
• Exterior features: Public water; 0.12-acre lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Replacement windows; 7 total rooms; Crawl space/partial basement
• Laundry & utility: In-home laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

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; 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 16y 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 $45k; list at $90k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1920 — 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: 1.16% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.29%
• DSCR: 1.55
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $93,702
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3044 Morton Ave	0.17mi	2/1.0	984 (+2%)	3mo	$95,000	$97	86
2933 Baker St	0.08mi	2/1.0	900 (-7%)	1mo	$111,000	$123	84
3017 Merriam St	0.10mi	2/1.0	864 (-11%)	5mo	$49,900	$58	74
2833 Hoyt St	0.17mi	2/1.0	848 (-12%)	4mo	$90,000	$106	69
2917 Jefferson St	0.33mi	3/1.0 (+1)	898 (-7%)	6mo	$73,000	$81	62
3301 7th St	0.56mi	2/1.0	880 (-9%)	2mo	$82,000	$93	57
2618 Hoyt St	0.49mi	3/1.0 (+1)	878 (-9%)	1mo	$74,900	$85	56
2513 5th St	0.72mi	3/1.0 (+1)	980 (+1%)	4mo	$50,000	$51	56
375 W Maplewood Ave	0.75mi	3/1.0 (+1)	984 (+2%)	2mo	$105,894	$108	55
3229 7th St	0.55mi	2/1.0	846 (-12%)	2mo	$78,000	$92	52
356 Amsterdam Ave	0.65mi	2/1.0	876 (-9%)	3mo	$99,900	$114	52
3354 Highland St	0.65mi	3/1.0 (+1)	1,068 (+11%)	6mo	$129,900	$122	42

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: 1.9%
• Equity multiple: 1.07×
• Total profit: $1,830
• Equity at exit: $13,404

10-year hold

• IRR: 11.5%
• Equity multiple: 1.90×
• Total profit: $22,654
• Equity at exit: $7,773

Cash invested: $25,172 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,040 high
• Mortgage (P&I): −$471
• Tax from tax record: −$55 /mo · $660/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $258

Break-even live

Break-even rent $714

Max offer price $89,900

Occupancy floor 70%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 E Lincoln Ave Muskegon, MI	2.0	1.0	1020	$1,100	$1.08	21d	1	0.17mi
2516 5th St Apt 1 Muskegon Heights, MI	1.0	1.0	630	$775	$1.23	21d	1	0.67mi
2516 5th St Apt 2 Muskegon Heights, MI	1.0	1.0	630	$750	$1.19	21d	1	0.67mi
3040 Temple St Muskegon, MI	2.0	1.0	900	$1,150	$1.28	21d	1	0.81mi
2901 Temple St Unit 1 Muskegon Heights, MI	2.0	1.0	850	$1,095	$1.29	43d	1	0.84mi
3041 Lemuel St Muskegon, MI	3.0	1.0	872	$1,195	$1.37	21d	1	0.90mi
889 Woodside Rd Unit 36 Muskegon, MI	2.0	1.0	880	$1,125	$1.28	43d	1	1.26mi
3223 Bailey St Norton Shores, MI	2.0–3.0	2.0	1096	$1,249	$1.14	21d	1	1.30mi
121 E Holbrook Ave Apt 3 Muskegon, MI	2.0	1.0	650	$950	$1.46	21d	1	1.36mi
1893 Jefferson St Unit 2 Muskegon, MI	1.0	1.0	594	$700	$1.18	21d	1	1.42mi

Listing history 7 events

1. 2026-06-14
   statusdays on market $89,900 Pending 8 DOM
2. 2026-06-13
   days on market $89,900 Active 7 DOM
3. 2026-06-10
   days on market $89,900 Active 5 DOM
4. 2026-06-09
   days on market $89,900 Active 4 DOM
5. 2026-06-08
   days on market $89,900 Active 3 DOM
6. 2026-06-07
   remarks 450-char remark
7. 2026-06-07
   listed $89,900 Active 2 DOM

ⓘ 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: $660 · $55/mo
• Projected year-2 tax: $1,022 · $85/mo
• Expected delta: +$362/yr (+$30/mo · 54.8%)

ⓘ 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: $12,482
• − Mortgage interest: −$5,036
• − Property taxes: −$660
• − Insurance: −$450
• − Repairs & maintenance: −$999
• − Management: −$999
• − Depreciation: −$2,615
• Taxable income: $1,724
• Est. tax owed @ 24.0%: −$414
• After-tax cash flow: $2,680/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)

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

+799.0% since first listed

17 events — show timeline

• 2026-06-02 Listed $89,900 SW Michigan MLS
• 2026-06-02 Listed $89,900 REALCOMP
• 2026-06-02 Listed $89,900 MiRealSource-MiMLS
• 2022-05-17 Sold (Public Records) $45,000 Public Records
• 2022-05-02 Listed $45,000 MiRealSource-MiMLS
• 2022-05-02 Listed $45,000 SW Michigan MLS
• 2022-05-02 Listed $45,000 REALCOMP
• 2022-05-02 Sold (MLS) $45,000 SW Michigan MLS
• 2022-05-02 Sold (MLS) $45,000 REALCOMP
• 2014-09-18 Listing Removed — SW Michigan MLS
• 2011-09-06 Listing Removed — SW Michigan MLS
• 2011-09-06 Listing Removed — REALCOMP
• 2011-06-24 Listed $9,900 SW Michigan MLS
• 2011-06-24 Listed $9,900 REALCOMP
• 2011-03-13 Listing Removed — REALCOMP
• 2010-09-13 Listed $10,000 REALCOMP
• 2010-09-13 Listed $10,000 SW Michigan MLS

Property tax history

+0.6%/yr

Latest (2025): $660 · +2.8% YoY. Source: county tax records.