Active

Price cut: $15K (9/23)

$360,000

1223 Terrace St, Muskegon, MI 49442

7beds

5baths

3,850sqft

$2,814/mo

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2 to 4 Units

Built in 1899

-- sqft lot

$352,800 Zestimate^®

$94/sqft

$-- HOA

What's special

Large 4-unit investment property at 1223 Terrace St, Muskegon, in an excellent location near downtown and surrounded by ongoing neighborhood revitalization.Situated in the historic McLaughlin District, a well-established neighborhood known for its historic character and proximity to downtown Muskegon. Excellent cash-flow opportunity for investors or owner-occupants. Photos available. Serious inquiries only. Current rents:Unit A - $1,000/month (large 1BR/1BA), currently vacant for easy showingsUnit B - $1,200/month (3BR/2BA)Unit C - $900/month (2BR/1BA)Unit D - $850/month (1BR/1BA) All rents offer potential for future increases. Long-term, reliable tenants with a strong payment history. Recent improvements include full remodeling of all units between 2021 and 2024, a new roof in 2022, and a new boiler in 2023.

138 days
499
50

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 7
Bathrooms: 5

Heating

Hot Water

Features

Basement: Full

Interior area

Total interior livable area: 3,850 sqft

Property

Parking

Total spaces: 4
Parking features: Paved

Lot

Size: 8,712 Square Feet
Dimensions: 66 x 132

Details

Parcel number: 24205243001000
Zoning description: RM-1

Construction

Type & style

Home type: MultiFamily
Property subtype: 2 to 4 Units

Materials

Wood Siding
Roof: Composition

Condition

New construction: No
Year built: 1899

Utilities & green energy

Utilities for property: Natural Gas Available, Electricity Available, Cable Available, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected

Community & HOA

Location

Region: Muskegon

Financial & listing details

Price per square foot: $94/sqft
Tax assessed value: $58,649
Annual tax amount: $1
Date on market: 5/21/2026
Listing terms: VA Loan,FHA,Cash,Conventional
Tenant pays: Electricity
Electric utility on property: Yes
Road surface type: Paved

Estimated market value

$352,800

$335,000 - $370,000

Not available

Price history

Date	Event	Price
9/23/2026	Price change	$360,000-4%$94/sqft
Source: MichRIC #26024005 Report a problem
7/27/2026	Price change	$375,000-2.6%$97/sqft
Source: MichRIC #26024005 Report a problem
7/7/2026	Price change	$385,000-3.8%$100/sqft
Source: MichRIC #26024005 Report a problem
5/21/2026	Listed for sale	$400,000+14.3%$104/sqft
Source: MichRIC #26024005 Report a problem
9/21/2022	Listing removed	--
Source: Owner Report a problem
6/3/2022	Listed for sale	$350,000+52.2%$91/sqft
Source: Owner Report a problem
9/29/2021	Sold	$230,000+238.2%$60/sqft
Source: Public Record Report a problem
12/14/2016	Sold	$68,000+88.9%$18/sqft
Source: Public Record Report a problem
11/8/2016	Sold	$36,000-34.5%$9/sqft
Source: Public Record Report a problem
1/14/2016	Sold	$55,000+1548.2%$14/sqft
Source: Public Record Report a problem
2/20/2012	Sold	$3,337$1/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$2,922 +3.4%	$85,800 +59.5%
2024	$2,826 +5.5%	$53,800 +4.9%
2023	$2,679	$51,300 +19.9%
2022	--	$42,800 +15.4%
2021	$1,728	$37,100 +2.5%
2020	$1,728 +484.8%	$36,200 +624%
2018	$296	$5,000 -79.6%
2017	--	$24,500 -9.9%
2016	--	$27,200
2015	--	$27,200 +0.7%
2014	--	$27,000 +3.8%
2013	--	$26,000 -7.8%
2012	--	$28,200 -8.1%
2011	--	$30,700
2010	--	$30,700 -8.1%
2009	--	$33,400 -0.3%
2008	--	$33,500 +4.7%
2007	--	$32,000
2006	--	$32,000 +2.6%
2005	--	$31,200 +1.6%
2004	--	$30,700