1682 Mcilwraith St · Muskegon, MI 49442

$59,900

2 bd · 1.0 ba · 938 sqft · SingleFamily public records · 50 Days on market

Built 1800 5,009 sqft lot

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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 +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

Key facts

• 5,009 sq ft lot
• 2 garage spots
• Built 1800

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.0% 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 (+8.2%/yr); 290 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $414 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts 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: property tax is 2.5% of price; built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1800 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.91% ✓
• Cap rate: 15.04%
• Cash-on-cash: 31.25%
• DSCR: 2.39
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $135,072
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1636 Wood St	0.14mi	3/1.0 (+1)	912 (-3%)	2mo	$131,500	$144	82
1735 Superior St	0.23mi	2/1.0	887 (-5%)	2mo	$79,000	$89	79
1687 Smith St	0.22mi	2/1.0	840 (-10%)	1mo	$105,900	$126	72
1476 Kingsley St	0.50mi	3/1.0 (+1)	995 (+6%)	3mo	$95,000	$95	59
1195 S Getty St	0.70mi	2/1.0	864 (-8%)	3mo	$55,000	$64	52
1969 Hoyt St	0.55mi	3/1.0 (+1)	1,040 (+11%)	0mo	$92,500	$89	51
1441 Leahy St	0.56mi	2/1.0	816 (-13%)	2mo	$183,000	$224	50
508 Catherine Ave	0.67mi	2/1.0	1,046 (+12%)	1mo	$125,000	$120	48
961 Aurora Ave	0.56mi	3/1.0 (+1)	1,040 (+11%)	5mo	$183,500	$176	47
1641 Sanford St	0.73mi	2/1.0	830 (-12%)	1mo	$120,000	$145	46
1071 Kampenga Ave	0.74mi	2/1.0	816 (-13%)	4mo	$140,000	$172	40
438 E Isabella Ave	0.75mi	2/1.0	1,065 (+14%)	3mo	$201,300	$189	40

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: 32.0%
• Equity multiple: 2.44×
• Total profit: $24,198
• Equity at exit: $8,931

10-year hold

• IRR: 41.9%
• Equity multiple: 6.04×
• Total profit: $84,568
• Equity at exit: $5,179

Cash invested: $16,772 (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 49442

• Rents YoY: 8.2%
• Active inventory: 290
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,142 high
• Mortgage (P&I): −$314
• Tax from tax record: −$127 /mo · $1,519/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $437

Break-even live

Break-even rent $589

Max offer price $59,900

Occupancy floor 57%

Sensitivity live

Price	-10% $471	-5% $454	+0% $437	+5% $420	+10% $403
Rent	-10% $347	-5% $392	+0% $437	+5% $482	+10% $527
Rate	-1.0pp $467	-0.5pp $452	base $437	+0.5pp $421	+1.0pp $405

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 E Holbrook Ave Apt 3 Muskegon, MI	2.0	1.0	650	$950	$1.46	22d	1	0.60mi
1126 Holt St Muskegon, MI	2.0	1.0	708	$1,095	$1.55	22d	1	0.73mi
1223 Terrace St Unit A Muskegon, MI	1.0	1.0	800	$1,000	$1.25	22d	1	0.76mi
1101 Spring St Muskegon, MI	2.0	1.0	700	$1,100	$1.57	22d	1	0.81mi
1893 Jefferson St Unit 2 Muskegon, MI	1.0	1.0	594	$700	$1.18	22d	1	0.86mi
310 Allen Ave Unit 2 Muskegon, MI	3.0	3.0	1100	$1,490	$1.35	22d	1	0.96mi
313 Orchard Ave Unit 1 Muskegon, MI	3.0	3.0	1121	$1,575	$1.40	22d	1	1.06mi
1021 Jefferson St Muskegon, MI	1.0	1.0	696	$826	$1.19	22d	3	1.15mi
122 W Muskegon Ave Muskegon, MI	2.0	2.0	856	$795	$0.93	22d	1	1.24mi
488 W Muskegon Ave Muskegon, MI	2.0	1.0	1008	$1,150	$1.14	22d	1	1.37mi
2516 5th St Apt 2 Muskegon Heights, MI	1.0	1.0	630	$750	$1.19	22d	1	1.39mi
2516 5th St Apt 1 Muskegon Heights, MI	1.0	1.0	630	$775	$1.23	22d	1	1.39mi
292 W Western Ave Muskegon, MI	1.0–2.0	1.0–2.0	1062	$2,450	$2.31	22d	1	1.45mi

Listing history 17 events

1. 2026-02-27
   status Pending 245-char remark

   Show marketing remark (245 chars)

   Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

2. 2026-02-27
   status Pending 245-char remark

   Show marketing remark (245 chars)

   Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

3. 2026-02-27
   status Pending

   Show marketing remark (245 chars)

   Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

4. 2026-02-10
   status Active 245-char remark

   Show marketing remark (245 chars)

   Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

5. 2026-02-10
   status Active 245-char remark

   Show marketing remark (245 chars)

   Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

6. 2026-02-10
   status Active

   Show marketing remark (245 chars)

   Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

7. 2025-12-16
   status Pending 245-char remark

   Show marketing remark (245 chars)

   Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

8. 2025-12-16
   status Pending 245-char remark

   Show marketing remark (245 chars)

   Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

9. 2025-12-16
   status Pending

   Show marketing remark (245 chars)

   Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

10. 2025-12-06
    status Active 245-char remark

    Show marketing remark (245 chars)

    Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

11. 2025-12-05
    historical 245-char remark

    Show marketing remark (245 chars)

    Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

12. 2025-11-13
    listed $59,900 Active 245-char remark

    Show marketing remark (245 chars)

    Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

13. 2025-11-13
    listed $59,900 Active 245-char remark

    Show marketing remark (245 chars)

    Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

14. 2025-11-13
    listed $59,900 Active

    Show marketing remark (245 chars)

    Investors special. .. nearly a blank canvas to fix it up the way you want it. 2 bed home and full basement with two non-conforming bedrooms. Home also has two stall garage. To be sold in 'as-is' condition with no warranties expressed or implied.

15. 2025-07-01
    historical
16. 2025-06-18
    listed $59,900 Active
17. 2025-06-18
    listed $59,900 Active

ⓘ 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: $1,519 · $127/mo
• Projected year-2 tax: $1,519 · $127/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 14 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: $13,708
• − Mortgage interest: −$3,355
• − Property taxes: −$1,519
• − Insurance: −$300
• − Repairs & maintenance: −$1,097
• − Management: −$1,097
• − Depreciation: −$1,743
• Taxable income: $4,598
• Est. tax owed @ 24.0%: −$1,104
• After-tax cash flow: $4,138/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): 44,766
• Household income: $48,563
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 1598.0

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 0.56)
• Race & ethnicity: White 63% Black 22% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Iranian 5% Romanian 4% Lithuanian 3%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -174.87%
• Current HPI: 287.0558
• Rent YoY: ▲ 8.21%
• 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

+0.0% since first listed

17 events — show timeline

• 2026-02-27 Pending — MiRealSource-MiMLS
• 2026-02-27 Pending — REALCOMP
• 2026-02-27 Pending — SW Michigan MLS
• 2026-02-10 Relisted — MiRealSource-MiMLS
• 2026-02-10 Relisted — REALCOMP
• 2026-02-10 Relisted — SW Michigan MLS
• 2025-12-16 Pending — MiRealSource-MiMLS
• 2025-12-16 Pending — REALCOMP
• 2025-12-16 Pending — SW Michigan MLS
• 2025-12-06 Relisted — REALCOMP
• 2025-12-05 Listing Removed — REALCOMP
• 2025-11-13 Listed $59,900 REALCOMP
• 2025-11-13 Listed $59,900 SW Michigan MLS
• 2025-11-13 Listed $59,900 MiRealSource-MiMLS
• 2025-07-01 Listing Removed — MiRealSource-MiMLS
• 2025-06-18 Listed $59,900 REALCOMP
• 2025-06-18 Listed $59,900 MiRealSource-MiMLS

Property tax history

+2.1%/yr

Latest (2025): $1,519 · +2.2% YoY. Source: county tax records.