3104 Sanford St · Muskegon Heights, MI 49444

$104,900

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 146 Days on market

Built 1935 3,920 sqft lot Est $93k · 12% over ↓ 5% since listing

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Why this score? — see what drove the D+ 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 +22.4/30.0
• DSCR +7.2/10.0
• Schools +5.0/10.0
• 1% rule +4.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Plan your tour of this warm & cozy 2 bedroom home. Features include full basement, garage, fireplace, along with original hardwood floors & trim throughout. Furnace upgrade with the last 5 years and major appliances are included with the sale - washer, dryer, stove, refrigerator.

Key facts

• Full basement
• 3,920 sq ft lot
• Garage

Tags

• FULL BASEMENT
• ORIGINAL HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (1.0% below list).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.

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; 7 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 $725 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.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 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: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 8.29%
• Cash-on-cash: 7.15%
• DSCR: 1.32
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $93,312
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2933 Baker St	0.21mi	2/1.0	900 (+4%)	1mo	$111,000	$123	83
3229 7th St	0.32mi	2/1.0	846 (-2%)	2mo	$78,000	$92	80
3301 7th St	0.34mi	2/1.0	880 (+2%)	2mo	$82,000	$93	80
3300 Jefferson St	0.21mi	2/1.0	810 (-6%)	0mo	$60,000	$74	79
356 Amsterdam Ave	0.42mi	2/1.0	876 (+1%)	3mo	$99,900	$114	76
2618 Hoyt St	0.64mi	3/1.0 (+1)	878 (+2%)	1mo	$74,900	$85	61
224 E Lincoln Ave	0.34mi	3/1.0 (+1)	770 (-11%)	2mo	$90,000	$117	59
3044 Morton Ave	0.38mi	2/1.0	984 (+14%)	3mo	$95,000	$97	57
3304 Waalkes St	0.56mi	2/1.0	760 (-12%)	0mo	$115,900	$153	54
142 Harrison Blvd	0.47mi	3/1.0 (+1)	768 (-11%)	3mo	$97,000	$126	52
375 W Maplewood Ave	0.52mi	3/1.0 (+1)	984 (+14%)	2mo	$105,894	$108	46
2513 5th St	0.72mi	3/1.0 (+1)	980 (+13%)	4mo	$50,000	$51	36

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-5,888
• Equity at exit: $15,641

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $9,087
• Equity at exit: $9,070

Cash invested: $29,372 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,038 high
• Mortgage (P&I): −$550
• Tax from tax record: −$52 /mo · $619/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $175

Break-even live

Break-even rent $817

Max offer price $104,900

Occupancy floor 78%

Sensitivity live

Price	-10% $234	-5% $205	+0% $175	+5% $145	+10% $116
Rent	-10% $93	-5% $134	+0% $175	+5% $216	+10% $257
Rate	-1.0pp $228	-0.5pp $202	base $175	+0.5pp $148	+1.0pp $120

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 7 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	0.37mi
3040 Temple St Muskegon, MI	2.0	1.0	900	$1,150	$1.28	21d	1	0.56mi
2901 Temple St Unit 1 Muskegon Heights, MI	2.0	1.0	850	$1,095	$1.29	44d	1	0.63mi
3041 Lemuel St Muskegon, MI	3.0	1.0	872	$1,195	$1.37	21d	1	0.65mi
2516 5th St Apt 1 Muskegon Heights, MI	1.0	1.0	630	$775	$1.23	21d	1	0.71mi
2516 5th St Apt 2 Muskegon Heights, MI	1.0	1.0	630	$750	$1.19	21d	1	0.71mi
889 Woodside Rd Unit 36 Muskegon, MI	2.0	1.0	880	$1,125	$1.28	44d	1	0.99mi

Listing history 13 events

1. 2026-06-02
   days on market $104,900 Active 146 DOM
2. 2026-06-01
   days on market $104,900 Active 145 DOM
3. 2026-05-31
   days on market $104,900 Active 144 DOM
4. 2026-05-30
   days on market $104,900 Active 143 DOM
5. 2026-02-28
   status Pending 292-char remark

   Show marketing remark (292 chars)

   Plan your tour of this warm & cozy 2 bedroom home. Features include full basement, garage, fireplace, along with original hardwood floors & trim throughout. Furnace upgrade with the last 5 years and major appliances are included with the sale - washer, dryer, stove, refrigerator.

6. 2026-02-28
   status Pending 292-char remark

   Show marketing remark (292 chars)

   Plan your tour of this warm & cozy 2 bedroom home. Features include full basement, garage, fireplace, along with original hardwood floors & trim throughout. Furnace upgrade with the last 5 years and major appliances are included with the sale - washer, dryer, stove, refrigerator.

7. 2026-02-28
   status Pending

   Show marketing remark (292 chars)

   Plan your tour of this warm & cozy 2 bedroom home. Features include full basement, garage, fireplace, along with original hardwood floors & trim throughout. Furnace upgrade with the last 5 years and major appliances are included with the sale - washer, dryer, stove, refrigerator.

8. 2026-02-24
   price $104,900 292-char remark

   Show marketing remark (292 chars)

   Plan your tour of this warm & cozy 2 bedroom home. Features include full basement, garage, fireplace, along with original hardwood floors & trim throughout. Furnace upgrade with the last 5 years and major appliances are included with the sale - washer, dryer, stove, refrigerator.

9. 2026-02-23
   price $104,900 292-char remark

   Show marketing remark (292 chars)

   Plan your tour of this warm & cozy 2 bedroom home. Features include full basement, garage, fireplace, along with original hardwood floors & trim throughout. Furnace upgrade with the last 5 years and major appliances are included with the sale - washer, dryer, stove, refrigerator.

10. 2026-02-23
    price $104,900

    Show marketing remark (292 chars)

    Plan your tour of this warm & cozy 2 bedroom home. Features include full basement, garage, fireplace, along with original hardwood floors & trim throughout. Furnace upgrade with the last 5 years and major appliances are included with the sale - washer, dryer, stove, refrigerator.

11. 2025-10-10
    listed $109,900 Active 292-char remark

    Show marketing remark (292 chars)

    Plan your tour of this warm & cozy 2 bedroom home. Features include full basement, garage, fireplace, along with original hardwood floors & trim throughout. Furnace upgrade with the last 5 years and major appliances are included with the sale - washer, dryer, stove, refrigerator.

12. 2025-10-10
    listed $109,900 Active 292-char remark

    Show marketing remark (292 chars)

    Plan your tour of this warm & cozy 2 bedroom home. Features include full basement, garage, fireplace, along with original hardwood floors & trim throughout. Furnace upgrade with the last 5 years and major appliances are included with the sale - washer, dryer, stove, refrigerator.

13. 2025-10-10
    listed $109,900 Active

    Show marketing remark (292 chars)

    Plan your tour of this warm & cozy 2 bedroom home. Features include full basement, garage, fireplace, along with original hardwood floors & trim throughout. Furnace upgrade with the last 5 years and major appliances are included with the sale - washer, dryer, stove, refrigerator.

ⓘ 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: $619 · $52/mo
• Projected year-2 tax: $1,117 · $93/mo
• Expected delta: +$498/yr (+$42/mo · 80.5%)

ⓘ 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: $12,461
• − Mortgage interest: −$5,876
• − Property taxes: −$619
• − Insurance: −$524
• − Repairs & maintenance: −$997
• − Management: −$997
• − Depreciation: −$3,052
• Taxable income: $396
• Est. tax owed @ 24.0%: −$95
• After-tax cash flow: $2,004/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

-4.5% since first listed

9 events — show timeline

• 2026-02-28 Pending — REALCOMP
• 2026-02-28 Pending — MiRealSource-MiMLS
• 2026-02-28 Pending — SW Michigan MLS
• 2026-02-24 Price Changed $104,900 MiRealSource-MiMLS
• 2026-02-23 Price Changed $104,900 REALCOMP
• 2026-02-23 Price Changed $104,900 SW Michigan MLS
• 2025-10-10 Listed $109,900 REALCOMP
• 2025-10-10 Listed $109,900 SW Michigan MLS
• 2025-10-10 Listed $109,900 MiRealSource-MiMLS

Property tax history

-3.4%/yr

Latest (2025): $619 · +2.7% YoY. Source: county tax records.