1088 Kenneth St · Muskegon, MI 49442

$108,000

2 bd · 1.0 ba · 708 sqft · SingleFamily public records · 1 Days on market

Built 1979 3,964 sqft lot Est $131k · 18% under

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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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 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

Completely remodeled and move-in ready! This 2-bedroom, 1-bath home in the City of Muskegon has been renovated down to the studs, offering peace of mind with major updates throughout. Improvements include new electrical, plumbing, heating and cooling, roof, windows, and siding. The bright and refreshed interior features stainless steel appliances, plus a washer and dryer included for added convenience. Outside, you'll find a storage shed, perfect for lawn equipment, tools, and extra storage. A beautifully updated home with modern finishes and extensive improvements--schedule your showing today! Subject to State Land Bank approval and timelines. Buyer and buyer's agent to verify all information.

Key facts

• Move-in ready
• Remodeled
• New plumbing

Tags

• REMODELED
• MOVE-IN READY
• RENOVATED DOWN TO THE STUDS
• NEW ELECTRICAL
• NEW PLUMBING
• NEW HEATING

Property features AI

Exterior

• Utilities: Public water; Natural gas connected; Natural gas water heater
• Home design: Single family residence; Residential property
• Construction: Built in 1979; Vinyl siding; Composition roof; Crawl space basement
• Exterior features: Sidewalk; Paved road access

Interior

• Kitchen: Oven; Range; Microwave; Refrigerator
• Bedrooms: Primary bedroom (approx. 13 x 8); Second bedroom (approx. 9 x 8)
• Bathrooms: 1 full bathroom (approx. 6 x 6)
• Heating & cooling: Heat pump; Has heating; Has cooling
• Interior features: Replacement windows; Total of 5 rooms
• Laundry & utility: Washer; Dryer; Dedicated laundry area (approx. 5 x 4)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Cap rate 8.4% 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $747 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 $30k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 30y 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 $9k; list at $108k implies a 1100% gain — meaningful room to come down on a strong offer.

Recommended offer $108,000

Questions for the listing agent

1. Built in 1979 — 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: 1.02% ✓
• Cap rate: 8.41%
• Cash-on-cash: 7.57%
• DSCR: 1.34
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $130,980
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
825 Stevens St	0.47mi	2/1.0	724 (+2%)	2mo	$163,200	$225	73
764 Louis Ave Ave	0.42mi	3/1.0 (+1)	711 (+0%)	8mo	$30,000	$42	68
931 Stevens St	0.39mi	2/1.0	740 (+4%)	9mo	$149,900	$203	66
1192 Oak Grove St	0.56mi	2/1.0	720 (+2%)	6mo	$129,900	$180	66
1067 Sophia St	0.40mi	2/1.0	672 (-5%)	13mo	$125,000	$186	62
1095 E Apple Ave	0.53mi	2/1.0	767 (+8%)	13mo	$141,700	$185	51
591 Mary St	0.67mi	2/1.0	639 (-10%)	5mo	$110,000	$172	49
757 Louis Ave	0.43mi	2/1.0	795 (+12%)	13mo	$135,000	$170	49
891 E Forest Ave	0.71mi	2/1.0	763 (+8%)	8mo	$95,000	$125	48
539 Alva St	0.70mi	2/1.0	780 (+10%)	5mo	$149,900	$192	46
1146 Kampenga Ave	0.74mi	2/1.0	768 (+8%)	9mo	$154,000	$201	44
521 Mulder St	0.72mi	3/1.0 (+1)	808 (+14%)	13mo	$92,000	$114	27

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: 0.4%
• Equity multiple: 1.02×
• Total profit: $459
• Equity at exit: $16,103

10-year hold

• IRR: 14.3%
• Equity multiple: 2.41×
• Total profit: $42,497
• Equity at exit: $9,338

Cash invested: $30,240 (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: $1,104 high
• Mortgage (P&I): −$566
• Tax from tax record: −$70 /mo · $837/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $191

Break-even live

Break-even rent $862

Max offer price $108,000

Occupancy floor 78%

Sensitivity live

Price	-10% $252	-5% $221	+0% $191	+5% $160	+10% $130
Rent	-10% $104	-5% $147	+0% $191	+5% $234	+10% $278
Rate	-1.0pp $245	-0.5pp $218	base $191	+0.5pp $163	+1.0pp $134

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1126 Holt St Muskegon, MI	2.0	1.0	708	$1,095	$1.55	22d	1	0.10mi
1101 Spring St Muskegon, MI	2.0	1.0	700	$1,100	$1.57	22d	1	0.60mi
1000 Marquette Ave Muskegon, MI	1.0–3.0	1.0–1.5	870	$1,070	$1.23	22d	1	0.93mi
1021 Jefferson St Muskegon, MI	1.0	1.0	696	$826	$1.19	22d	3	1.02mi
121 E Holbrook Ave Apt 3 Muskegon, MI	2.0	1.0	650	$950	$1.46	22d	1	1.28mi
1893 Jefferson St Unit 2 Muskegon, MI	1.0	1.0	594	$700	$1.18	22d	1	1.45mi
410 Glen Oaks Dr Muskegon, MI	1.0–2.0	1.0	638	$1,204	$1.89	22d	55	1.49mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark

   Show marketing remark (652 chars)

   Completely remodeled and move-in ready! This 2-bedroom, 1-bath home in the City of Muskegon has been renovated down to the studs, offering peace of mind with major updates throughout. Improvements include new electrical, plumbing, heating and cooling, roof, windows, and siding. The bright and refreshed interior features stainless steel appliances, plus a washer and dryer included for added convenience. Outside, you'll find a storage shed, perfect for lawn equipment, tools, and extra storage. A beautifully updated home with modern finishes and extensive improvements--schedule your showing today! Subject to State Land Bank approval and timelines.

2. 2026-06-18
   listed $108,000 Active 1 DOM

   Show marketing remark (652 chars)

   Completely remodeled and move-in ready! This 2-bedroom, 1-bath home in the City of Muskegon has been renovated down to the studs, offering peace of mind with major updates throughout. Improvements include new electrical, plumbing, heating and cooling, roof, windows, and siding. The bright and refreshed interior features stainless steel appliances, plus a washer and dryer included for added convenience. Outside, you'll find a storage shed, perfect for lawn equipment, tools, and extra storage. A beautifully updated home with modern finishes and extensive improvements--schedule your showing today! Subject to State Land Bank approval and timelines.

ⓘ 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: $837 · $70/mo
• Projected year-2 tax: $1,250 · $104/mo
• Expected delta: +$413/yr (+$34/mo · 49.4%)

ⓘ 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 1/10 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: $13,244
• − Mortgage interest: −$6,050
• − Property taxes: −$837
• − Insurance: −$540
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$3,142
• Taxable income: $556
• Est. tax owed @ 24.0%: −$134
• After-tax cash flow: $2,156/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

+624.8% since first listed

21 events — show timeline

• 2026-06-18 Listed $108,000 MiRealSource-MiMLS
• 2026-06-18 Listed $108,000 REALCOMP
• 2026-06-18 Listed $108,000 SW Michigan MLS
• 2021-02-12 Listing Removed — SW Michigan MLS
• 2021-02-12 Listing Removed — REALCOMP
• 2021-02-11 Listing Removed — MiRealSource-MiMLS
• 2020-02-11 Listed $40,000 MiRealSource-MiMLS
• 2020-02-11 Listed $40,000 SW Michigan MLS
• 2020-02-11 Listed $40,000 REALCOMP
• 2019-07-01 Sold (MLS) $9,000 SW Michigan MLS
• 2019-07-01 Sold (MLS) $9,000 REALCOMP
• 2019-05-16 Pending — SW Michigan MLS
• 2019-05-15 Relisted — SW Michigan MLS
• 2019-05-06 Pending — SW Michigan MLS
• 2019-04-26 Listed $12,900 MiRealSource-MiMLS
• 2019-04-26 Listed $12,900 SW Michigan MLS
• 2019-04-26 Listed $12,900 REALCOMP
• 2014-09-15 Listing Removed — SW Michigan MLS
• 1997-02-26 Listing Removed — REALCOMP
• 1996-08-27 Listed $14,900 REALCOMP
• 1996-08-27 Listed $14,900 SW Michigan MLS

Property tax history

+6.2%/yr

Latest (2023): $837 · -12.3% YoY. Source: county tax records.