3035 Lemuel St · Muskegon Heights, MI 49444

$74,999

3 bd · 1.0 ba · 672 sqft · SingleFamily public records · 39 Days on market

Built 1945 5,009 sqft lot Est $73k · 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.4/15.0
• 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

Investment Opportunity in Muskegon Heights! This 2-bedroom, 1-bath bungalow offers great potential for a first-time homebuyer or investor looking to add to their portfolio. The home features a full basement, providing extra storage or the possibility for additional living space. With its manageable size and convenient layout, this property is ready for updates and personal touches to bring out its full value. Located close to local schools, parks, and amenities, this home combines affordability with opportunity. Whether you're looking for a starter home or your next rental property, this is a chance to invest in a growing community.

Key facts

• Close to parks
• Full basement
• Close to amenities

Tags

• FULL BASEMENT
• CLOSE TO LOCAL SCHOOLS
• CLOSE TO PARKS
• CLOSE TO AMENITIES
• INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $518 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 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 + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 7y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $75k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,749 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.66% ✓
• Cap rate: 14.59%
• Cash-on-cash: 29.62%
• DSCR: 2.32
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $73,248
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3140 Temple St	0.18mi	2/1.0 (-1)	690 (+3%)	12mo	$90,000	$130	72
3015 Lemuel St	0.05mi	2/1.0 (-1)	592 (-12%)	6mo	$29,900	$51	68
3229 Waalkes St	0.23mi	2/1.0 (-1)	700 (+4%)	14mo	$75,000	$107	65
2950 Maple Grove Rd	0.48mi	2/1.0 (-1)	720 (+7%)	1mo	$180,000	$250	60
3304 Waalkes St	0.29mi	2/1.0 (-1)	760 (+13%)	0mo	$115,900	$153	59
3041 Park St	0.18mi	2/1.0 (-1)	604 (-10%)	16mo	$65,000	$108	57
3229 Jefferson St	0.63mi	3/1.0	732 (+9%)	2mo	$114,000	$156	54
3300 5th St	0.57mi	2/1.0 (-1)	704 (+5%)	8mo	$59,500	$85	53
3133 Sanford St	0.64mi	2/1.0 (-1)	724 (+8%)	2mo	$50,000	$69	50
3212 5th St	0.55mi	2/1.0 (-1)	624 (-7%)	14mo	$68,000	$109	46
2962 Eastland Rd	0.60mi	2/1.0 (-1)	720 (+7%)	16mo	$193,100	$268	42
3304 Sanford St	0.71mi	2/1.0 (-1)	717 (+7%)	16mo	$35,000	$49	38

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: 24.1%
• Equity multiple: 1.99×
• Total profit: $20,844
• Equity at exit: $11,183

10-year hold

• IRR: 31.9%
• Equity multiple: 3.89×
• Total profit: $60,602
• Equity at exit: $6,485

Cash invested: $21,000 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,245 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$41 /mo · $492/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $518

Break-even live

Break-even rent $589

Max offer price $74,999

Occupancy floor 53%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 44 events

1. 2026-04-05
   status Pending 640-char remark

   Show marketing remark (640 chars)

   Investment Opportunity in Muskegon Heights! This 2-bedroom, 1-bath bungalow offers great potential for a first-time homebuyer or investor looking to add to their portfolio. The home features a full basement, providing extra storage or the possibility for additional living space. With its manageable size and convenient layout, this property is ready for updates and personal touches to bring out its full value. Located close to local schools, parks, and amenities, this home combines affordability with opportunity. Whether you're looking for a starter home or your next rental property, this is a chance to invest in a growing community.

2. 2026-04-05
   status Pending 640-char remark

   Show marketing remark (640 chars)

   Investment Opportunity in Muskegon Heights! This 2-bedroom, 1-bath bungalow offers great potential for a first-time homebuyer or investor looking to add to their portfolio. The home features a full basement, providing extra storage or the possibility for additional living space. With its manageable size and convenient layout, this property is ready for updates and personal touches to bring out its full value. Located close to local schools, parks, and amenities, this home combines affordability with opportunity. Whether you're looking for a starter home or your next rental property, this is a chance to invest in a growing community.

3. 2026-04-05
   status Pending

   Show marketing remark (640 chars)

   Investment Opportunity in Muskegon Heights! This 2-bedroom, 1-bath bungalow offers great potential for a first-time homebuyer or investor looking to add to their portfolio. The home features a full basement, providing extra storage or the possibility for additional living space. With its manageable size and convenient layout, this property is ready for updates and personal touches to bring out its full value. Located close to local schools, parks, and amenities, this home combines affordability with opportunity. Whether you're looking for a starter home or your next rental property, this is a chance to invest in a growing community.

4. 2026-03-26
   price $74,999 640-char remark

   Show marketing remark (640 chars)

   Investment Opportunity in Muskegon Heights! This 2-bedroom, 1-bath bungalow offers great potential for a first-time homebuyer or investor looking to add to their portfolio. The home features a full basement, providing extra storage or the possibility for additional living space. With its manageable size and convenient layout, this property is ready for updates and personal touches to bring out its full value. Located close to local schools, parks, and amenities, this home combines affordability with opportunity. Whether you're looking for a starter home or your next rental property, this is a chance to invest in a growing community.

5. 2026-03-26
   price $74,999 640-char remark

   Show marketing remark (640 chars)

   Investment Opportunity in Muskegon Heights! This 2-bedroom, 1-bath bungalow offers great potential for a first-time homebuyer or investor looking to add to their portfolio. The home features a full basement, providing extra storage or the possibility for additional living space. With its manageable size and convenient layout, this property is ready for updates and personal touches to bring out its full value. Located close to local schools, parks, and amenities, this home combines affordability with opportunity. Whether you're looking for a starter home or your next rental property, this is a chance to invest in a growing community.

6. 2026-03-26
   price $74,999

   Show marketing remark (640 chars)

   Investment Opportunity in Muskegon Heights! This 2-bedroom, 1-bath bungalow offers great potential for a first-time homebuyer or investor looking to add to their portfolio. The home features a full basement, providing extra storage or the possibility for additional living space. With its manageable size and convenient layout, this property is ready for updates and personal touches to bring out its full value. Located close to local schools, parks, and amenities, this home combines affordability with opportunity. Whether you're looking for a starter home or your next rental property, this is a chance to invest in a growing community.

7. 2026-02-25
   listed $79,999 Active 640-char remark

   Show marketing remark (640 chars)

   Investment Opportunity in Muskegon Heights! This 2-bedroom, 1-bath bungalow offers great potential for a first-time homebuyer or investor looking to add to their portfolio. The home features a full basement, providing extra storage or the possibility for additional living space. With its manageable size and convenient layout, this property is ready for updates and personal touches to bring out its full value. Located close to local schools, parks, and amenities, this home combines affordability with opportunity. Whether you're looking for a starter home or your next rental property, this is a chance to invest in a growing community.

8. 2026-02-25
   listed $79,999 Active 640-char remark

   Show marketing remark (640 chars)

   Investment Opportunity in Muskegon Heights! This 2-bedroom, 1-bath bungalow offers great potential for a first-time homebuyer or investor looking to add to their portfolio. The home features a full basement, providing extra storage or the possibility for additional living space. With its manageable size and convenient layout, this property is ready for updates and personal touches to bring out its full value. Located close to local schools, parks, and amenities, this home combines affordability with opportunity. Whether you're looking for a starter home or your next rental property, this is a chance to invest in a growing community.

9. 2026-02-25
   listed $79,999 Active

   Show marketing remark (640 chars)

   Investment Opportunity in Muskegon Heights! This 2-bedroom, 1-bath bungalow offers great potential for a first-time homebuyer or investor looking to add to their portfolio. The home features a full basement, providing extra storage or the possibility for additional living space. With its manageable size and convenient layout, this property is ready for updates and personal touches to bring out its full value. Located close to local schools, parks, and amenities, this home combines affordability with opportunity. Whether you're looking for a starter home or your next rental property, this is a chance to invest in a growing community.

10. 2026-02-21
    historical
11. 2026-02-20
    historical
12. 2025-09-13
    price $79,999
13. 2025-09-12
    price $79,999
14. 2025-09-12
    price $79,999
15. 2025-08-20
    listed $84,999 Active
16. 2025-08-20
    listed $84,999 Active
17. 2024-03-06
    status Active
18. 2024-03-06
    historical
19. 2024-03-01
    status Pending
20. 2024-03-01
    status Pending
21. 2024-03-01
    historical
22. 2024-02-21
    price $64,999
23. 2024-02-21
    price $64,999
24. 2024-02-20
    price $64,999
25. 2023-12-01
    listed $69,999 Active
26. 2023-12-01
    listed $69,999 Active
27. 2023-11-23
    historical
28. 2023-11-22
    historical
29. 2023-10-07
    price $69,999
30. 2023-10-07
    price $69,999
31. 2023-10-07
    price $69,999
32. 2023-07-05
    price $74,999
33. 2023-07-03
    listed $74,999 Active
34. 2023-07-03
    listed $74,999 Active
35. 2023-06-30
    historical
36. 2023-06-30
    historical
37. 2023-05-22
    listed $79,999 Active
38. 2023-05-22
    listed $79,999 Active
39. 2019-07-03
    soldstatus $24,000
40. 2019-07-03
    soldstatus $24,000 Sold
41. 2019-06-04
    status Pending
42. 2019-05-22
    listed $30,000
43. 2019-05-22
    listed $30,000 Active
44. 2019-05-22
    listed $30,000

ⓘ 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: $492 · $41/mo
• Projected year-2 tax: $823 · $69/mo
• Expected delta: +$332/yr (+$28/mo · 67.4%)

ⓘ 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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,944
• − Mortgage interest: −$4,201
• − Property taxes: −$492
• − Insurance: −$375
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$2,182
• Taxable income: $5,304
• Est. tax owed @ 24.0%: −$1,273
• After-tax cash flow: $4,947/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

+150.0% since first listed

44 events — show timeline

• 2026-04-05 Pending — REALCOMP
• 2026-04-05 Pending — MiRealSource-MiMLS
• 2026-04-05 Pending — SW Michigan MLS
• 2026-03-26 Price Changed $74,999 MiRealSource-MiMLS
• 2026-03-26 Price Changed $74,999 REALCOMP
• 2026-03-26 Price Changed $74,999 SW Michigan MLS
• 2026-02-25 Listed $79,999 REALCOMP
• 2026-02-25 Listed $79,999 SW Michigan MLS
• 2026-02-25 Listed $79,999 MiRealSource-MiMLS
• 2026-02-21 Listing Removed — MiRealSource-MiMLS
• 2026-02-20 Listing Removed — REALCOMP
• 2025-09-13 Price Changed $79,999 MiRealSource-MiMLS
• 2025-09-12 Price Changed $79,999 REALCOMP
• 2025-09-12 Price Changed $79,999 SW Michigan MLS
• 2025-08-20 Listed $84,999 REALCOMP
• 2025-08-20 Listed $84,999 MiRealSource-MiMLS
• 2024-03-06 Relisted — REALCOMP
• 2024-03-06 Listing Removed — REALCOMP
• 2024-03-01 Pending — MiRealSource-MiMLS
• 2024-03-01 Pending — REALCOMP
• 2024-03-01 Listing Removed — MiRealSource-MiMLS
• 2024-02-21 Price Changed $64,999 MiRealSource-MiMLS
• 2024-02-21 Price Changed $64,999 REALCOMP
• 2024-02-20 Price Changed $64,999 SW Michigan MLS
• 2023-12-01 Listed $69,999 MiRealSource-MiMLS
• 2023-12-01 Listed $69,999 REALCOMP
• 2023-11-23 Listing Removed — MiRealSource-MiMLS
• 2023-11-22 Listing Removed — REALCOMP
• 2023-10-07 Price Changed $69,999 MiRealSource-MiMLS
• 2023-10-07 Price Changed $69,999 REALCOMP
• 2023-10-07 Price Changed $69,999 SW Michigan MLS
• 2023-07-05 Price Changed $74,999 SW Michigan MLS
• 2023-07-03 Listed $74,999 MiRealSource-MiMLS
• 2023-07-03 Listed $74,999 REALCOMP
• 2023-06-30 Listing Removed — MiRealSource-MiMLS
• 2023-06-30 Listing Removed — REALCOMP
• 2023-05-22 Listed $79,999 MiRealSource-MiMLS
• 2023-05-22 Listed $79,999 REALCOMP
• 2019-07-03 Sold (MLS) $24,000 SW Michigan MLS
• 2019-07-03 Sold (MLS) $24,000 REALCOMP
• 2019-06-04 Pending — SW Michigan MLS
• 2019-05-22 Listed $30,000 MiRealSource-MiMLS
• 2019-05-22 Listed $30,000 SW Michigan MLS
• 2019-05-22 Listed $30,000 REALCOMP

Property tax history

-2.4%/yr

Latest (2025): $492 · +2.7% YoY. Source: county tax records.