3527 Hoyt St #81 · Muskegon Heights, MI 49444

$15,900

2 bd · 1.0 ba · 625 sqft · Manufactured · 6 Days on market

Built 1967 $350/mo HOA · 42% of rent ↓ 43% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Central Air Conditioning and Close to highway access, water, and parks! Lot rent only $350 monthly * * Buyer to verify details with the park, listing agent makes no guarantee on rental fees!All appliances (other than microwave) to stay with the home! Motivated seller! * Buyer must get approved through park. ($700 security deposit - verify details with park)

Key facts

• Built 1967
• Listed 5 days

Property features AI

Finance

• HOA & community: Association with monthly fee of $350; Association covers water, trash, and sewer; Pets allowed

Exterior

• Utilities: Public water
• Home design: Ranch-style; Single-story; Residential property
• Construction: Built in 1967; Other construction materials
• Exterior features: Located on Mona Lake; Approximately 6.1-acre lot

Interior

• Kitchen: Dishwasher; Oven; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Two total rooms; Basement (other type)
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $16k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($830 rent vs $16k).
• Cap rate 21.1% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $110 of loan paydown is wiped out by about $477 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 $4k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts; this cycle's ask has dropped $2k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.

Recommended offer $15,900

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 5.22% ✓
• Cap rate: 21.09%
• Cash-on-cash: 52.86%
• DSCR: 3.35
• GRM: 1.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.5%
• Equity multiple: 3.28×
• Total profit: $10,142
• Equity at exit: $2,371

10-year hold

• IRR: 57.1%
• Equity multiple: 6.80×
• Total profit: $25,839
• Equity at exit: $1,375

Cash invested: $4,452 (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: 1.6×

Monthly cashflow live

• Estimated rent: $830 medium
• Mortgage (P&I): −$83
• Tax est. 1.5%: −$20 /mo · $238/yr
• Insurance: −$7
• HOA: −$350
• Vacancy / Maint / Mgmt: −$174
• Net cashflow: $196

Break-even live

Break-even rent $582

Max offer price $15,900

Occupancy floor 71%

Sensitivity live

Price	-10% $207	-5% $202	+0% $196	+5% $191	+10% $185
Rent	-10% $131	-5% $163	+0% $196	+5% $229	+10% $262
Rate	-1.0pp $204	-0.5pp $200	base $196	+0.5pp $192	+1.0pp $188

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: $3,975
• Closing costs: $477
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2901 Temple St Unit 2 Muskegon Heights, MI	1.0	1.0	400	$750	$1.88	22d	1	1.12mi
2516 5th St Apt 1 Muskegon Heights, MI	1.0	1.0	630	$775	$1.23	22d	1	1.30mi
2516 5th St Apt 2 Muskegon Heights, MI	1.0	1.0	630	$750	$1.19	22d	1	1.30mi

HOA detail

• Monthly dues: $350 · $4,200/yr
• Likely covers: watersecurity

Listing history 34 events

1. 2026-06-19
   days on market $15,900 Active 6 DOM
2. 2026-06-18
   days on market $15,900 Active 5 DOM
3. 2026-06-17
   days on market $15,900 Active 4 DOM
4. 2026-06-16
   days on market $15,900 Active 3 DOM
5. 2026-06-15
   days on market $15,900 Active 2 DOM
6. 2026-06-14
   pricedays on marketlisting id $15,900 Active 1 DOM
7. 2026-06-13
   days on market $16,900 Active 82 DOM
8. 2026-06-10
   days on market $16,900 Active 80 DOM
9. 2026-06-09
   days on market $16,900 Active 79 DOM
10. 2026-06-08
    days on market $16,900 Active 78 DOM
11. 2026-06-07
    days on market $16,900 Active 77 DOM
12. 2026-06-02
    days on market $16,900 Active 72 DOM
13. 2026-06-01
    days on market $16,900 Active 71 DOM
14. 2026-05-31
    days on market $16,900 Active 70 DOM
15. 2026-05-30
    days on market $16,900 Active 69 DOM
16. 2026-04-16
    price $16,900 360-char remark

    Show marketing remark (360 chars)

    Central Air Conditioning and Close to highway access, water, and parks! Lot rent only $350 monthly * * Buyer to verify details with the park, listing agent makes no guarantee on rental fees!All appliances (other than microwave) to stay with the home! Motivated seller! * Buyer must get approved through park. ($700 security deposit - verify details with park)

17. 2026-04-16
    price $16,900 360-char remark

    Show marketing remark (360 chars)

    Central Air Conditioning and Close to highway access, water, and parks! Lot rent only $350 monthly * * Buyer to verify details with the park, listing agent makes no guarantee on rental fees!All appliances (other than microwave) to stay with the home! Motivated seller! * Buyer must get approved through park. ($700 security deposit - verify details with park)

18. 2026-04-16
    price $16,900

    Show marketing remark (360 chars)

    Central Air Conditioning and Close to highway access, water, and parks! Lot rent only $350 monthly * * Buyer to verify details with the park, listing agent makes no guarantee on rental fees!All appliances (other than microwave) to stay with the home! Motivated seller! * Buyer must get approved through park. ($700 security deposit - verify details with park)

19. 2026-03-22
    listed $17,500 Active 360-char remark

    Show marketing remark (360 chars)

    Central Air Conditioning and Close to highway access, water, and parks! Lot rent only $350 monthly * * Buyer to verify details with the park, listing agent makes no guarantee on rental fees!All appliances (other than microwave) to stay with the home! Motivated seller! * Buyer must get approved through park. ($700 security deposit - verify details with park)

20. 2026-03-22
    listed $17,500 Active 360-char remark

    Show marketing remark (360 chars)

    Central Air Conditioning and Close to highway access, water, and parks! Lot rent only $350 monthly * * Buyer to verify details with the park, listing agent makes no guarantee on rental fees!All appliances (other than microwave) to stay with the home! Motivated seller! * Buyer must get approved through park. ($700 security deposit - verify details with park)

21. 2026-03-22
    listed $17,500 Active

    Show marketing remark (360 chars)

    Central Air Conditioning and Close to highway access, water, and parks! Lot rent only $350 monthly * * Buyer to verify details with the park, listing agent makes no guarantee on rental fees!All appliances (other than microwave) to stay with the home! Motivated seller! * Buyer must get approved through park. ($700 security deposit - verify details with park)

22. 2026-03-22
    historical

    Show marketing remark (360 chars)

    Central Air Conditioning and Close to highway access, water, and parks! Lot rent only $350 monthly * * Buyer to verify details with the park, listing agent makes no guarantee on rental fees!All appliances (other than microwave) to stay with the home! Motivated seller! * Buyer must get approved through park. ($700 security deposit - verify details with park)

23. 2026-03-21
    historical
24. 2026-03-07
    price $17,500
25. 2026-03-07
    price $17,500
26. 2026-03-07
    price $17,500
27. 2026-02-09
    price $19,900
28. 2026-02-09
    price $19,900
29. 2026-02-09
    price $19,900
30. 2026-01-15
    price $24,900
31. 2026-01-15
    price $24,900
32. 2026-01-15
    price $24,900
33. 2025-11-26
    listed $29,900 Active
34. 2025-11-26
    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: $9,964
• − Mortgage interest: −$891
• − Property taxes: −$238
• − Insurance: −$80
• − Repairs & maintenance: −$797
• − Management: −$797
• − HOA: −$4,200
• − Depreciation: −$463
• Taxable income: $2,499
• Est. tax owed @ 24.0%: −$600
• After-tax cash flow: $1,754/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

-43.5% since first listed

19 events — show timeline

• 2026-04-16 Price Changed $16,900 MiRealSource-MiMLS
• 2026-04-16 Price Changed $16,900 REALCOMP
• 2026-04-16 Price Changed $16,900 SW Michigan MLS
• 2026-03-22 Listed $17,500 REALCOMP
• 2026-03-22 Listing Removed — MiRealSource-MiMLS
• 2026-03-22 Listed $17,500 SW Michigan MLS
• 2026-03-22 Listed $17,500 MiRealSource-MiMLS
• 2026-03-21 Listing Removed — REALCOMP
• 2026-03-07 Price Changed $17,500 MiRealSource-MiMLS
• 2026-03-07 Price Changed $17,500 REALCOMP
• 2026-03-07 Price Changed $17,500 SW Michigan MLS
• 2026-02-09 Price Changed $19,900 MiRealSource-MiMLS
• 2026-02-09 Price Changed $19,900 REALCOMP
• 2026-02-09 Price Changed $19,900 SW Michigan MLS
• 2026-01-15 Price Changed $24,900 MiRealSource-MiMLS
• 2026-01-15 Price Changed $24,900 REALCOMP
• 2026-01-15 Price Changed $24,900 SW Michigan MLS
• 2025-11-26 Listed $29,900 REALCOMP
• 2025-11-26 Listed $29,900 MiRealSource-MiMLS