713 E Greenlawn Ave · Lansing, MI 48910

$59,900

3 bd · 1.0 ba · 939 sqft · SingleFamily public records · 1 Days on market

Built 1948 5,227 sqft lot Est $112k · 46% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Equity opportunity for the right buyer/investor. An excellent location for flipper/ full remodel! 3 bedroom/1 bath - Brick exterior and 1 car block garage - A 1948 stout built residence - 1.5 stories, 2nd floor is an open loft / attic style room, prime for a master suite conversion. The living room features a wood-burning fireplace, hardwood floors, and a retro full bath. The home will require updates and remodeling; however, it affords a rare equity- building opportunity for the right investor/ buyer upon restoring the original charm of the home.

Key facts

• Brick exterior
• Open loft
• Full remodel

Tags

• EXCELLENT LOCATION
• BRICK EXTERIOR
• OPEN LOFT
• WOOD BURNING FIREPLACE
• HARDWOOD FLOORS
• FULL REMODEL

Property features AI

Exterior

• Parking: Driveway; Garage faces front
• Utilities: 100 amp electric service; Public sewer
• Home design: One-and-a-half story home; Built in 1948; City street frontage
• Construction: Brick, stone and hardboard exterior; Block foundation
• Exterior features: Shingle roof; Partial chain-link fencing in back yard; Landscaped front yard with some native plants and few trees; Level, rectangular city lot; Near public transit; Paved road frontage

Interior

• Kitchen: Eat-in kitchen; Pantry closet
• Bedrooms: 3 bedrooms (primary bedroom with hardwood flooring)
• Flooring: Hardwood; Linoleum; Combination flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Fireplace heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Natural woodwork; Living room fireplace with built-ins/storage; Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 13.9% vs local median 6.0% in Lansing — 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 (#94 in MI, #2,182 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, schools F, crime F.
• Lansing Public School District (urban): math 14% / reading 23% proficiency, ranked #650 of 760 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.7%/yr); 175 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ingham County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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.
7. 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.
8. 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: 2.03% ✓
• Cap rate: 13.88%
• Cash-on-cash: 27.10%
• DSCR: 2.21
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $111,741
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
713 E Greenlawn Ave	0.00mi	3/1.0	939 (0%)	0mo	$77,500	$83	100
555 Tisdale Ave	0.20mi	2/1.0 (-1)	879 (-6%)	2mo	$166,500	$189	73
512 Woodrow Ave	0.42mi	2/1.0 (-1)	912 (-3%)	5mo	$104,500	$115	67
546 Hamilton Ave	0.35mi	2/1.0 (-1)	1,011 (+8%)	0mo	$135,900	$134	66
1718 Donora St	0.58mi	3/1.0	900 (-4%)	4mo	$39,900	$44	63
613 Tisdale Ave	0.15mi	2/1.0 (-1)	800 (-15%)	1mo	$107,250	$134	62
2305 Forest Ave	0.52mi	2/1.0 (-1)	888 (-5%)	4mo	$142,200	$160	59
619 E Mount Hope Ave	0.47mi	3/2.0	1,040 (+11%)	5mo	$75,000	$72	52
617 Vernon Ave	0.61mi	2/1.0 (-1)	836 (-11%)	1mo	$99,900	$119	48
707 Isbell St	0.62mi	3/1.0	1,054 (+12%)	5mo	$30,000	$28	46
616 Glendale Ave	0.69mi	3/2.0	1,023 (+9%)	4mo	$111,000	$109	46
1703 Linval St	0.60mi	2/2.5 (-1)	814 (-13%)	5mo	$117,000	$144	34

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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 1.99×
• Total profit: $16,656
• Equity at exit: $8,931

10-year hold

• IRR: 32.7%
• Equity multiple: 4.28×
• Total profit: $55,069
• Equity at exit: $5,179

Cash invested: $16,772 (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 48910

• Rents YoY: 4.7%
• Active inventory: 175
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,213 high
• Mortgage (P&I): −$314
• Tax from tax record: −$241 /mo · $2,886/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $379

Break-even live

Break-even rent $734

Max offer price $59,900

Occupancy floor 64%

Sensitivity live

Price	-10% $586	-5% $565	+0% $379	+5% $362	+10% $345
Rent	-10% $283	-5% $331	+0% $379	+5% $427	+10% $475
Rate	-1.0pp $409	-0.5pp $394	base $379	+0.5pp $363	+1.0pp $347

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1016 E Greenlawn Ave Unit 3 Lansing, MI	2.0	1.0	750	$925	$1.23	15d	1	0.24mi
401 E Willard Ave Unit 19 Lansing, MI	2.0	1.0	775	$1,000	$1.29	45d	1	0.38mi
3515 Bergman Ave Lansing, MI	2.0	1.0	640	$1,195	$1.87	22d	1	0.73mi
3716 Homewood Ave Lansing, MI	2.0	1.0	692	$1,300	$1.88	22d	1	0.75mi
430 Dunlap St Lansing, MI	2.0	1.0	940	$1,450	$1.54	22d	1	0.84mi
3518 Davidson Dr Lansing, MI	2.0	2.0	850	$1,115	$1.31	45d	3	0.88mi
3031 S Washington Ave Lansing, MI	1.0–2.0	1.0	725	$1,100	$1.52	45d	1	0.92mi
1828 Davis Ave Lansing, MI	2.0	1.0	700	$1,150	$1.64	45d	1	0.95mi
1223 Bensch St Lansing, MI	3.0	1.0	850	$1,200	$1.41	22d	1	1.18mi
915 Loa St Lansing, MI	2.0	1.0	674	$999	$1.48	45d	1	1.23mi
1913 Stirling Ave Unit 1 Lansing, MI	2.0	2.0	1100	$1,200	$1.09	45d	1	1.26mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	15d	1	1.40mi
1100 Malcolm X St Unit B Lansing, MI	2.0	1.0	979	$1,050	$1.07	15d	1	1.43mi
645 E Jolly Rd Lansing, MI	1.0–2.0	1.0	775	$825	$1.06	45d	1	1.49mi
910 Dakin St Lansing, MI	3.0	1.0	908	$1,295	$1.43	45d	1	1.49mi

Listing history 4 events

1. 2026-05-14
   status Pending 554-char remark

   Show marketing remark (554 chars)

   Equity opportunity for the right buyer/investor. An excellent location for flipper/ full remodel! 3 bedroom/1 bath - Brick exterior and 1 car block garage - A 1948 stout built residence - 1.5 stories, 2nd floor is an open loft / attic style room, prime for a master suite conversion. The living room features a wood-burning fireplace, hardwood floors, and a retro full bath. The home will require updates and remodeling; however, it affords a rare equity- building opportunity for the right investor/ buyer upon restoring the original charm of the home.

2. 2026-05-14
   status Pending

   Show marketing remark (554 chars)

   Equity opportunity for the right buyer/investor. An excellent location for flipper/ full remodel! 3 bedroom/1 bath - Brick exterior and 1 car block garage - A 1948 stout built residence - 1.5 stories, 2nd floor is an open loft / attic style room, prime for a master suite conversion. The living room features a wood-burning fireplace, hardwood floors, and a retro full bath. The home will require updates and remodeling; however, it affords a rare equity- building opportunity for the right investor/ buyer upon restoring the original charm of the home.

3. 2026-05-12
   listed $59,900 Active 554-char remark

   Show marketing remark (554 chars)

   Equity opportunity for the right buyer/investor. An excellent location for flipper/ full remodel! 3 bedroom/1 bath - Brick exterior and 1 car block garage - A 1948 stout built residence - 1.5 stories, 2nd floor is an open loft / attic style room, prime for a master suite conversion. The living room features a wood-burning fireplace, hardwood floors, and a retro full bath. The home will require updates and remodeling; however, it affords a rare equity- building opportunity for the right investor/ buyer upon restoring the original charm of the home.

4. 2026-05-12
   listed $59,900 Active

   Show marketing remark (554 chars)

   Equity opportunity for the right buyer/investor. An excellent location for flipper/ full remodel! 3 bedroom/1 bath - Brick exterior and 1 car block garage - A 1948 stout built residence - 1.5 stories, 2nd floor is an open loft / attic style room, prime for a master suite conversion. The living room features a wood-burning fireplace, hardwood floors, and a retro full bath. The home will require updates and remodeling; however, it affords a rare equity- building opportunity for the right investor/ buyer upon restoring the original charm of the home.

ⓘ 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: $2,886 · $241/mo
• Projected year-2 tax: $2,886 · $241/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,556
• − Mortgage interest: −$3,355
• − Property taxes: −$2,886
• − Insurance: −$300
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$1,743
• Taxable income: $3,944
• Est. tax owed @ 24.0%: −$947
• After-tax cash flow: $3,598/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: Lansing Public School District
• NCES district ID: 2621150
• Math proficiency: 14% ▲ 1.00%
• Reading proficiency: 23% ▲ 3.00%
• Median HH income: $37,453
• Composite: 18.76/100
• National rank: #14002
• State rank: #650 of 760 in MI

Livability — Lansing

• Score: 79/100
• State rank: #94
• US rank: #2182

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansing, MI
• County: Ingham County · 237,052 people
• City population: 161,269
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 32,800
• Household income: $54,712
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1305.0

Population outlook (Ingham County) Hauer SSP2

• Today (2025): 300,362 people
• By 2030: 307,808 · +2.5%
• By 2040: 320,492 · +6.7%
• By 2050: 333,223 · +10.9%
• By 2075: 373,693 · +24.4%
• By 2100: 392,021 · +30.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 58% Black 16% Hispanic / Latino 12% Two or more races 12% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 9% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 6% Chinese 1% Other Indo-European 1%

Political lean MEDSL · Ingham

• 2024 margin: Strong D (+29.7) · D 63.9% · R 34.2% · Other 2.0%
• 2008→2024 swing: -3.6pp toward R · 2008: 33.3pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+32.2 2016: D+27.6 2012: D+27.9 2008: D+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.82%
• Current HPI: 196.8087
• Rent YoY: ▲ 4.71%
• Metro: Lansing-East Lansing, 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

+0.0% since first listed

4 events — show timeline

• 2026-05-14 Pending — REALCOMP
• 2026-05-14 Pending — Greater Lansing AoR
• 2026-05-12 Listed $59,900 Greater Lansing AoR
• 2026-05-12 Listed $59,900 REALCOMP

Property tax history

+3.8%/yr

Latest (2025): $2,886 · +3.0% YoY. Source: county tax records.