3764 Liberty Ave · Muskegon, MI 49442

$19,900

2 bd · 1.0 ba · 872 sqft · Manufactured · 148 Days on market

Built 1971 436 sqft lot $23/sqft · 51% below area ↓ 33% since listing

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own your own home! This spacious 2 bedroom is move in ready and offers a newer roof and windows with updated bathroom, flooring, and paint throughout!! Central air, exterior deck and shed are all a bonus! Arlington Woods offers a clubhouse for residents. Current lot rent that includes water sewer, cable and trash is $460. Buyer subject to park approval, sales tax, etc. Buyer and buyers agent to verify all information.

Key facts

• Newer roof
• Exterior deck
• Updated bathroom

Tags

• NEWER ROOF
• UPDATED BATHROOM
• EXTERIOR DECK
• CLUBHOUSE FOR RESIDENTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $20k.

Deal economics

• At list price, monthly cash flow is $818 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 55.6% 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.
• Orchard View Schools (rural): math 12% / reading 25% proficiency, ranked #479 of 540 in MI (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.2%/yr); 289 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 $138 of loan paydown is wiped out by about $597 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $5k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $17,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 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 1971 — 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: 6.08% ✓
• Cap rate: 55.61%
• Cash-on-cash: 176.12%
• DSCR: 8.84
• GRM: 1.4

CMA / ARV

• ARV (median comp): $40,233
• List price: $19,900
• Delta: -50.54%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3764 Liberty Ave	0.00mi	2/1.0	872 (0%)	1mo	$19,900	$23	99
3728 Richardson St	0.07mi	3/2.0 (+1)	960 (+10%)	9mo	$45,000	$47	63
2138 Arrowhead Dr	0.47mi	2/2.0	900 (+3%)	11mo	$35,500	$39	60
3989 Commodore Ln	0.23mi	3/2.0 (+1)	960 (+10%)	20mo	$84,000	$88	46
4050 Larkspur Ln	0.64mi	3/2.0 (+1)	1,000 (+15%)	11mo	$72,900	$73	27
1878 Snowberry Way	0.71mi	3/1.0 (+1)	1,001 (+15%)	18mo	$47,000	$47	23

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: —
• Equity multiple: 10.92×
• Total profit: $55,271
• Equity at exit: $2,967

10-year hold

• IRR: —
• Equity multiple: 26.91×
• Total profit: $144,360
• Equity at exit: $1,721

Cash invested: $5,572 (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: 289
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,209 medium
• Mortgage (P&I): −$104
• Tax est. 1.5%: −$25 /mo · $298/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $818

Break-even live

Break-even rent $174

Max offer price $19,900

Occupancy floor 27%

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-01
   listing id $19,900 Pending 148 DOM
2. 2026-05-02
   status Pending 442-char remark

   Show marketing remark (442 chars)

   Great opportunity to own your own home! This spacious 2 bedroom is move in ready and offers a newer roof and windows with updated bathroom, flooring, and paint throughout!! Central air, exterior deck and shed are all a bonus! Arlington Woods offers a clubhouse for residents. Current lot rent that includes water sewer, cable and trash is $460. Buyer subject to park approval, sales tax, etc. Buyer and buyers agent to verify all information.

3. 2026-05-02
   status Pending 442-char remark

   Show marketing remark (442 chars)

   Great opportunity to own your own home! This spacious 2 bedroom is move in ready and offers a newer roof and windows with updated bathroom, flooring, and paint throughout!! Central air, exterior deck and shed are all a bonus! Arlington Woods offers a clubhouse for residents. Current lot rent that includes water sewer, cable and trash is $460. Buyer subject to park approval, sales tax, etc. Buyer and buyers agent to verify all information.

4. 2026-05-02
   status Pending

   Show marketing remark (442 chars)

   Great opportunity to own your own home! This spacious 2 bedroom is move in ready and offers a newer roof and windows with updated bathroom, flooring, and paint throughout!! Central air, exterior deck and shed are all a bonus! Arlington Woods offers a clubhouse for residents. Current lot rent that includes water sewer, cable and trash is $460. Buyer subject to park approval, sales tax, etc. Buyer and buyers agent to verify all information.

5. 2026-02-19
   price $19,900 442-char remark

   Show marketing remark (442 chars)

   Great opportunity to own your own home! This spacious 2 bedroom is move in ready and offers a newer roof and windows with updated bathroom, flooring, and paint throughout!! Central air, exterior deck and shed are all a bonus! Arlington Woods offers a clubhouse for residents. Current lot rent that includes water sewer, cable and trash is $460. Buyer subject to park approval, sales tax, etc. Buyer and buyers agent to verify all information.

6. 2026-02-19
   price $19,900 442-char remark

   Show marketing remark (442 chars)

   Great opportunity to own your own home! This spacious 2 bedroom is move in ready and offers a newer roof and windows with updated bathroom, flooring, and paint throughout!! Central air, exterior deck and shed are all a bonus! Arlington Woods offers a clubhouse for residents. Current lot rent that includes water sewer, cable and trash is $460. Buyer subject to park approval, sales tax, etc. Buyer and buyers agent to verify all information.

7. 2026-02-19
   price $19,900

   Show marketing remark (442 chars)

   Great opportunity to own your own home! This spacious 2 bedroom is move in ready and offers a newer roof and windows with updated bathroom, flooring, and paint throughout!! Central air, exterior deck and shed are all a bonus! Arlington Woods offers a clubhouse for residents. Current lot rent that includes water sewer, cable and trash is $460. Buyer subject to park approval, sales tax, etc. Buyer and buyers agent to verify all information.

8. 2025-12-05
   listed $24,900 Active 442-char remark

   Show marketing remark (442 chars)

   Great opportunity to own your own home! This spacious 2 bedroom is move in ready and offers a newer roof and windows with updated bathroom, flooring, and paint throughout!! Central air, exterior deck and shed are all a bonus! Arlington Woods offers a clubhouse for residents. Current lot rent that includes water sewer, cable and trash is $460. Buyer subject to park approval, sales tax, etc. Buyer and buyers agent to verify all information.

9. 2025-12-05
   listed $24,900 Active 442-char remark

   Show marketing remark (442 chars)

   Great opportunity to own your own home! This spacious 2 bedroom is move in ready and offers a newer roof and windows with updated bathroom, flooring, and paint throughout!! Central air, exterior deck and shed are all a bonus! Arlington Woods offers a clubhouse for residents. Current lot rent that includes water sewer, cable and trash is $460. Buyer subject to park approval, sales tax, etc. Buyer and buyers agent to verify all information.

10. 2025-12-05
    listed $24,900 Active

    Show marketing remark (442 chars)

    Great opportunity to own your own home! This spacious 2 bedroom is move in ready and offers a newer roof and windows with updated bathroom, flooring, and paint throughout!! Central air, exterior deck and shed are all a bonus! Arlington Woods offers a clubhouse for residents. Current lot rent that includes water sewer, cable and trash is $460. Buyer subject to park approval, sales tax, etc. Buyer and buyers agent to verify all information.

11. 2025-09-02
    historical
12. 2025-09-02
    historical
13. 2025-04-18
    price $24,900
14. 2025-04-17
    price $24,900
15. 2025-04-17
    price $24,900
16. 2025-03-03
    listed $29,900 Active
17. 2025-03-03
    listed $29,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,511
• − Mortgage interest: −$1,115
• − Property taxes: −$298
• − Insurance: −$100
• − Repairs & maintenance: −$1,161
• − Management: −$1,161
• − Depreciation: −$579
• Taxable income: $10,098
• Est. tax owed @ 24.0%: −$2,424
• After-tax cash flow: $7,390/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: Orchard View Schools
• NCES district ID: 2626760
• Math proficiency: 12% ▼ -8.00%
• Reading proficiency: 25% ▼ -4.00%
• Median HH income: $37,637
• Composite: 15.44/100
• National rank: #9314
• State rank: #479 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

• 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

-33.4% since first listed

16 events — show timeline

• 2026-05-02 Pending — REALCOMP
• 2026-05-02 Pending — MiRealSource-MiMLS
• 2026-05-02 Pending — SW Michigan MLS
• 2026-02-19 Price Changed $19,900 MiRealSource-MiMLS
• 2026-02-19 Price Changed $19,900 REALCOMP
• 2026-02-19 Price Changed $19,900 SW Michigan MLS
• 2025-12-05 Listed $24,900 REALCOMP
• 2025-12-05 Listed $24,900 SW Michigan MLS
• 2025-12-05 Listed $24,900 MiRealSource-MiMLS
• 2025-09-02 Listing Removed — REALCOMP
• 2025-09-02 Listing Removed — MiRealSource-MiMLS
• 2025-04-18 Price Changed $24,900 MiRealSource-MiMLS
• 2025-04-17 Price Changed $24,900 REALCOMP
• 2025-04-17 Price Changed $24,900 SW Michigan MLS
• 2025-03-03 Listed $29,900 REALCOMP
• 2025-03-03 Listed $29,900 MiRealSource-MiMLS