866 Fleming Ave · Muskegon, MI 49442

$110,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 63 Days on market

Built 1800 4,138 sqft lot Est $113k · at est.

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Why this score? — see what drove the C- 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 +20.1/30.0
• ARV discount +8.9/15.0
• DSCR +6.4/10.0
• 1% rule +5.2/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special with strong potential--perfect for a value-add rental or flip opportunity. This 3-bedroom, 1-bath home needs some work but offers the chance to build equity and generate solid cash flow. Ideal for investors looking to renovate and maximize returns.

Key facts

• 4,138 sq ft lot
• Built 1800
• Listed 62 days

Property features AI

Exterior

• Utilities: Natural gas available and connected; Electricity available; Natural gas water heater
• Home design: Traditional single-family residence; One building (single story not specified)
• Construction: Wood siding exterior; Composition roof; Originally built circa 1800
• Exterior features: Approximately 0.1-acre lot; Public water

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: Three total rooms; Replacement windows; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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.
• Muskegon Public Schools Of The City Of (urban): math 4% / reading 12% proficiency, ranked #534 of 540 in MI (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.2%/yr); 289 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $761 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 + 8.0% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 7y 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.
• Current owner paid $55k; list at $110k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1800 — 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. 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: 1.02% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.37%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $113,424
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1071 Kampenga Ave	0.26mi	2/1.0	816 (0%)	4mo	$140,000	$172	85
1768 Elwood St	0.42mi	3/1.0 (+1)	816 (0%)	5mo	$60,000	$74	71
1681 Edwin St	0.23mi	2/1.0	732 (-10%)	2mo	$60,000	$82	70
1195 S Getty St	0.39mi	2/1.0	864 (+6%)	3mo	$55,000	$64	70
1255 Langeland Ave	0.53mi	2/1.0	792 (-3%)	2mo	$109,900	$139	68
1735 Superior St	0.37mi	2/1.0	887 (+9%)	2mo	$79,000	$89	67
1687 Smith St	0.70mi	2/1.0	840 (+3%)	1mo	$105,900	$126	62
846 E Isabella Ave	0.51mi	2/1.0	864 (+6%)	6mo	$50,000	$58	61
1147 Mclaughlin Ave	0.51mi	2/1.0	902 (+10%)	1mo	$145,000	$161	58
1192 Oak Grove St	0.50mi	2/1.0	720 (-12%)	6mo	$129,900	$180	52
1636 Wood St	0.59mi	3/1.0 (+1)	912 (+12%)	2mo	$131,500	$144	46
333 E Grand Ave	0.67mi	2/1.0	906 (+11%)	6mo	$134,900	$149	46

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: -2.5%
• Equity multiple: 0.90×
• Total profit: $-3,098
• Equity at exit: $16,401

10-year hold

• IRR: 12.0%
• Equity multiple: 2.16×
• Total profit: $35,680
• Equity at exit: $9,511

Cash invested: $30,800 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,124 high
• Mortgage (P&I): −$577
• Tax from tax record: −$127 /mo · $1,528/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $138

Break-even live

Break-even rent $949

Max offer price $110,000

Occupancy floor 83%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1126 Holt St Muskegon, MI	2.0	1.0	708	$1,095	$1.55	20d	1	0.49mi
1101 Spring St Muskegon, MI	2.0	1.0	700	$1,100	$1.57	20d	1	0.94mi
310 Allen Ave Unit 2 Muskegon, MI	3.0	3.0	1100	$1,490	$1.35	20d	1	0.98mi
1223 Terrace St Unit A Muskegon, MI	1.0	1.0	800	$1,000	$1.25	20d	1	0.98mi
313 Orchard Ave Unit 1 Muskegon, MI	3.0	3.0	1121	$1,575	$1.40	20d	1	1.05mi
121 E Holbrook Ave Apt 3 Muskegon, MI	2.0	1.0	650	$950	$1.46	20d	1	1.06mi
1893 Jefferson St Unit 2 Muskegon, MI	1.0	1.0	594	$700	$1.18	20d	1	1.31mi
1021 Jefferson St Muskegon, MI	1.0	1.0	696	$826	$1.19	20d	3	1.36mi
860 Marquette Ave Unit 16 Muskegon, MI	2.0	1.0	1080	$1,250	$1.16	20d	1	1.41mi
860 Marquette Ave Unit 15 Muskegon, MI	2.0	1.0	1080	$1,325	$1.23	43d	1	1.41mi
122 W Muskegon Ave Muskegon, MI	2.0	2.0	856	$795	$0.93	20d	1	1.41mi
1000 Marquette Ave Muskegon, MI	1.0–3.0	1.0–1.5	870	$1,070	$1.23	20d	1	1.42mi
751 Leonard Ave Muskegon, MI	2.0	1.0	1000	$1,175	$1.18	43d	1	1.44mi

Listing history 37 events

1. 2026-06-19
   days on market $110,000 Active 63 DOM
2. 2026-06-18
   days on market $110,000 Active 62 DOM
3. 2026-06-17
   days on market $110,000 Active 61 DOM
4. 2026-06-16
   days on market $110,000 Active 60 DOM
5. 2026-06-15
   days on market $110,000 Active 59 DOM
6. 2026-06-14
   days on market $110,000 Active 57 DOM
7. 2026-06-13
   days on market $110,000 Active 56 DOM
8. 2026-06-10
   days on market $110,000 Active 54 DOM
9. 2026-06-09
   days on market $110,000 Active 53 DOM
10. 2026-06-08
    days on market $110,000 Active 52 DOM
11. 2026-06-07
    days on market $110,000 Active 51 DOM
12. 2026-06-05
    days on market $110,000 Active 48 DOM
13. 2026-06-03
    days on market $110,000 Active 47 DOM
14. 2026-06-02
    days on market $110,000 Active 46 DOM
15. 2026-06-01
    days on market $110,000 Active 45 DOM
16. 2026-05-31
    days on market $110,000 Active 44 DOM
17. 2026-05-30
    days on market $110,000 Active 43 DOM
18. 2026-04-17
    listed $110,000 Active 265-char remark

    Show marketing remark (265 chars)

    Investor special with strong potential--perfect for a value-add rental or flip opportunity. This 3-bedroom, 1-bath home needs some work but offers the chance to build equity and generate solid cash flow. Ideal for investors looking to renovate and maximize returns.

19. 2026-04-17
    listed $110,000 Active 265-char remark

    Show marketing remark (265 chars)

    Investor special with strong potential--perfect for a value-add rental or flip opportunity. This 3-bedroom, 1-bath home needs some work but offers the chance to build equity and generate solid cash flow. Ideal for investors looking to renovate and maximize returns.

20. 2026-04-17
    listed $110,000 Active

    Show marketing remark (265 chars)

    Investor special with strong potential--perfect for a value-add rental or flip opportunity. This 3-bedroom, 1-bath home needs some work but offers the chance to build equity and generate solid cash flow. Ideal for investors looking to renovate and maximize returns.

21. 2025-02-18
    historical $995
22. 2025-02-12
    listed $995
23. 2020-06-02
    soldstatus $55,000
24. 2020-05-27
    historical
25. 2020-05-26
    soldstatus $55,000
26. 2020-05-26
    soldstatus $55,000 Sold
27. 2020-05-12
    status Pending
28. 2020-04-29
    listed $64,900
29. 2020-04-29
    listed $64,900 Active
30. 2020-04-29
    listed $64,900
31. 2019-10-10
    soldstatus $47,000
32. 2019-10-10
    soldstatus $47,000 Sold
33. 2019-09-28
    status Pending
34. 2019-09-20
    listed $49,900
35. 2019-09-20
    listed $49,900 Active
36. 2019-09-20
    listed $49,900
37. 2006-06-06
    soldstatus $46,000

ⓘ 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: $1,528 · $127/mo
• Projected year-2 tax: $1,611 · $134/mo
• Expected delta: +$83/yr (+$7/mo · 5.4%)

ⓘ 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 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,486
• − Mortgage interest: −$6,162
• − Property taxes: −$1,528
• − Insurance: −$550
• − Repairs & maintenance: −$1,079
• − Management: −$1,079
• − Depreciation: −$3,200
• Taxable loss: −$112
• Est. tax savings @ 24.0%: +$27
• After-tax cash flow: $1,680/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: Muskegon Public Schools Of The City Of
• NCES district ID: 2624840
• Math proficiency: 4% ▼ -9.00%
• Reading proficiency: 12% ▼ -9.00%
• Median HH income: $27,622
• Composite: 5.8/100
• National rank: #10017
• State rank: #534 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

• Census place: Muskegon, MI
• 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

+139.1% since first listed

20 events — show timeline

• 2026-04-17 Listed $110,000 SW Michigan MLS
• 2026-04-17 Listed $110,000 REALCOMP
• 2026-04-17 Listed $110,000 MiRealSource-MiMLS
• 2025-02-18 Rental Removed $995 APPFOLIO
• 2025-02-12 Listed for Rent $995 APPFOLIO
• 2020-06-02 Sold (Public Records) $55,000 Public Records
• 2020-05-27 Listing Removed — SW Michigan MLS
• 2020-05-26 Sold (MLS) $55,000 SW Michigan MLS
• 2020-05-26 Sold (MLS) $55,000 REALCOMP
• 2020-05-12 Pending — SW Michigan MLS
• 2020-04-29 Listed $64,900 MiRealSource-MiMLS
• 2020-04-29 Listed $64,900 SW Michigan MLS
• 2020-04-29 Listed $64,900 REALCOMP
• 2019-10-10 Sold (MLS) $47,000 SW Michigan MLS
• 2019-10-10 Sold (MLS) $47,000 REALCOMP
• 2019-09-28 Pending — SW Michigan MLS
• 2019-09-20 Listed $49,900 MiRealSource-MiMLS
• 2019-09-20 Listed $49,900 SW Michigan MLS
• 2019-09-20 Listed $49,900 REALCOMP
• 2006-06-06 Sold (Public Records) $46,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,528 · +2.2% YoY. Source: county tax records.