2332 Sanford St · Muskegon Heights, MI 49444

$84,900

3 bd · 1.0 ba · 1,806 sqft · SingleFamily public records · 21 Days on market

Built 1945 5,750 sqft lot Est $105k · 19% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Investor Opportunity with Strong Potential!Looking for your next renovation project or value-add investment? This Muskegon Heights property offers solid bones, a functional layout, and plenty of upside for the right buyer. Situated on a residential lot in an up and coming neighborhood, this home is ready for updates and improvements to bring it back to its full potential. With approximately 1,400 square feet of living space and an attached garage, the property provides a strong foundation for a fix-and-flip, rental investment, or long-term hold. .Whether you're an experienced investor or a buyer looking to build equity through renovation, this is an opportunity to purchase a home with character, space, and potential at an affordable price point. Bring your vision and unlock the possibilities. Buyer to verify all information. Property is being sold as-is.

Key facts

• Solid bones
• Living space
• Attached garage

Tags

• SOLID BONES
• FUNCTIONAL LAYOUT
• ATTACHED GARAGE
• UPDATES AND IMPROVEMENTS
• LIVING SPACE

Property features AI

Exterior

• Utilities: Electricity available; Public water
• Home design: Traditional single-family residence; Living area about 1,806 total square feet; Built in 1945
• Construction: Block and wood siding construction; Composition roof
• Exterior features: Paved road access; Lot approximately 0.13 acres; Public water

Interior

• Kitchen: Kitchen (14 x 12)
• Bedrooms: Primary bedroom (14 x 12); Bedroom 2 (14 x 12); Bedroom 3 (14 x 12)
• Bathrooms: 1 full bathroom; Primary bathroom (14 x 12)
• Heating & cooling: Forced air heating
• Interior features: Insulated windows; 6 total rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $680 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.9% 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: 239 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).
• This rent runs 36% 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 $587 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,626 (1.5% below list)

Questions for the listing agent

1. Built in 1945 — 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: 1.86% ✓
• Cap rate: 15.90%
• Cash-on-cash: 34.31%
• DSCR: 2.53
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $104,748
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2520 Sanford St	0.23mi	2/1.0 (-1)	1,714 (-5%)	8mo	$100,000	$58	70
2220 Baker St	0.24mi	4/2.0 (+1)	1,851 (+2%)	10mo	$136,000	$73	67
2144 Baker St	0.29mi	3/2.0	1,936 (+7%)	5mo	$80,000	$41	66
2200 Peck St	0.21mi	3/1.0	1,556 (-14%)	4mo	$160,000	$103	64
2413 Howden St	0.42mi	2/1.0 (-1)	1,728 (-4%)	9mo	$119,000	$69	61
2405 Howden St	0.41mi	3/2.0	2,028 (+12%)	3mo	$29,900	$15	54
2216 Reynolds St	0.41mi	4/1.5 (+1)	1,960 (+8%)	11mo	$40,000	$20	50
1976 Leahy St	0.56mi	3/1.5	2,058 (+14%)	1mo	$105,000	$51	48
2615 Wood St	0.64mi	4/2.0 (+1)	1,710 (-5%)	7mo	$49,500	$29	46
1953 Jiroch St	0.54mi	2/1.0 (-1)	1,565 (-13%)	3mo	$57,000	$36	45
2836 Leahy St	0.71mi	3/1.0	1,614 (-11%)	18mo	$145,000	$90	34
1848 Commerce St	0.68mi	2/1.5 (-1)	1,600 (-11%)	10mo	$136,000	$85	34

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: 29.7%
• Equity multiple: 2.24×
• Total profit: $29,550
• Equity at exit: $12,659

10-year hold

• IRR: 37.0%
• Equity multiple: 4.43×
• Total profit: $81,537
• Equity at exit: $7,341

Cash invested: $23,772 (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 49444

• Active inventory: 239
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,583 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$90 /mo · $1,086/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $680

Break-even live

Break-even rent $723

Max offer price $84,900

Occupancy floor 52%

Sensitivity live

Price	-10% $728	-5% $704	+0% $680	+5% $656	+10% $632
Rent	-10% $555	-5% $617	+0% $680	+5% $742	+10% $805
Rate	-1.0pp $723	-0.5pp $701	base $680	+0.5pp $658	+1.0pp $635

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2073 Dowd St Muskegon, MI	3.0	2.5	1228	$1,750	$1.43	22d	1	1.22mi
2065 Dowd St Muskegon, MI	3.0	2.0	1228	$1,695	$1.38	22d	1	1.23mi
1644 Beidler St Muskegon, MI	3.0	2.0	1228	$1,700	$1.38	22d	1	1.24mi

Listing history 22 events

1. 2026-06-19
   days on market $84,900 Active 21 DOM
2. 2026-06-18
   price $84,900 Active 20 DOM
3. 2026-06-18
   days on market $88,900 Active 20 DOM
4. 2026-06-17
   days on market $88,900 Active 19 DOM
5. 2026-06-16
   days on market $88,900 Active 18 DOM
6. 2026-06-15
   days on market $88,900 Active 17 DOM
7. 2026-06-14
   days on market $88,900 Active 15 DOM
8. 2026-06-13
   days on market $88,900 Active 14 DOM
9. 2026-06-10
   days on market $88,900 Active 12 DOM
10. 2026-06-09
    days on market $88,900 Active 11 DOM
11. 2026-06-08
    days on market $88,900 Active 10 DOM
12. 2026-06-07
    days on market $88,900 Active 9 DOM
13. 2026-06-02
    days on market $88,900 Active 4 DOM
14. 2026-06-01
    days on market $88,900 Active 3 DOM
15. 2026-05-31
    days on market $88,900 Active 2 DOM
16. 2026-05-29
    listed $88,900 Active 866-char remark

    Show marketing remark (866 chars)

    Investor Opportunity with Strong Potential!Looking for your next renovation project or value-add investment? This Muskegon Heights property offers solid bones, a functional layout, and plenty of upside for the right buyer. Situated on a residential lot in an up and coming neighborhood, this home is ready for updates and improvements to bring it back to its full potential. With approximately 1,400 square feet of living space and an attached garage, the property provides a strong foundation for a fix-and-flip, rental investment, or long-term hold. .Whether you're an experienced investor or a buyer looking to build equity through renovation, this is an opportunity to purchase a home with character, space, and potential at an affordable price point. Bring your vision and unlock the possibilities. Buyer to verify all information. Property is being sold as-is.

17. 2026-05-29
    listed $88,900 Active

    Show marketing remark (866 chars)

    Investor Opportunity with Strong Potential!Looking for your next renovation project or value-add investment? This Muskegon Heights property offers solid bones, a functional layout, and plenty of upside for the right buyer. Situated on a residential lot in an up and coming neighborhood, this home is ready for updates and improvements to bring it back to its full potential. With approximately 1,400 square feet of living space and an attached garage, the property provides a strong foundation for a fix-and-flip, rental investment, or long-term hold. .Whether you're an experienced investor or a buyer looking to build equity through renovation, this is an opportunity to purchase a home with character, space, and potential at an affordable price point. Bring your vision and unlock the possibilities. Buyer to verify all information. Property is being sold as-is.

18. 2026-05-29
    listed $88,900 Active 866-char remark

    Show marketing remark (866 chars)

    Investor Opportunity with Strong Potential!Looking for your next renovation project or value-add investment? This Muskegon Heights property offers solid bones, a functional layout, and plenty of upside for the right buyer. Situated on a residential lot in an up and coming neighborhood, this home is ready for updates and improvements to bring it back to its full potential. With approximately 1,400 square feet of living space and an attached garage, the property provides a strong foundation for a fix-and-flip, rental investment, or long-term hold. .Whether you're an experienced investor or a buyer looking to build equity through renovation, this is an opportunity to purchase a home with character, space, and potential at an affordable price point. Bring your vision and unlock the possibilities. Buyer to verify all information. Property is being sold as-is.

19. 2003-09-23
    historical
20. 2003-09-23
    historical
21. 2003-08-22
    listed $39,900
22. 2003-08-22
    listed $39,900

ⓘ 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: $1,086 · $90/mo
• Projected year-2 tax: $1,197 · $100/mo
• Expected delta: +$111/yr (+$9/mo · 10.2%)

ⓘ 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: $19,000
• − Mortgage interest: −$4,756
• − Property taxes: −$1,086
• − Insurance: −$424
• − Repairs & maintenance: −$1,520
• − Management: −$1,520
• − Depreciation: −$2,470
• Taxable income: $7,224
• Est. tax owed @ 24.0%: −$1,734
• After-tax cash flow: $6,423/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

+122.8% since first listed

7 events — show timeline

• 2026-05-29 Listed $88,900 MiRealSource-MiMLS
• 2026-05-29 Listed $88,900 SW Michigan MLS
• 2026-05-29 Listed $88,900 REALCOMP
• 2003-09-23 Listing Removed — SW Michigan MLS
• 2003-09-23 Listing Removed — REALCOMP
• 2003-08-22 Listed $39,900 SW Michigan MLS
• 2003-08-22 Listed $39,900 REALCOMP

Property tax history

-1.6%/yr

Latest (2025): $1,086 · +2.8% YoY. Source: county tax records.