None · Lansing, MI 48906

$125,000

4 bd · 2.0 ba · 1,309 sqft · SingleFamily · 90 Days on market

Built 1892 Good condition 0.45 ac lot $95/sqft · 22% below area Est $160k · 22% 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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Investment opportunity with duplex potential. Welcome to 1513 E Oakland. This updated two story home offers 4 bedrooms and 2 bathrooms and was previously configured as a duplex, presenting an opportunity to convert it back (buyer to verify zoning and use). The upper level includes a second kitchen, supporting multi unit possibilities. Currently tenant occupied, providing immediate rental income with a strong rental history. Features include a fenced yard and a layout well suited for investors looking to add value.

Key facts

• Second kitchen
• Fenced-in yard
• Tenant-occupied

Tags

• FENCED-IN YARD
• SECOND KITCHEN
• TENANT-OCCUPIED
• STRONG RENTAL HISTORY
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 5.8% 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, 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.
• Zoned schools: Pattengill School (600 students, 88% FRL) — zoned schools average 88% FRL vs 68% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.5%/yr); 195 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 154 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1892 — 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 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?
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: 1.38% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.24%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (median comp): $160,386
• List price: $125,000
• Delta: -22.06%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 W Frederick Ave	1.46mi	3/2.0 (-1)	1,440 (+10%)	3mo	$142,000	$99	41
1581 W State Rd	1.06mi	3/1.0 (-1)	1,218 (-7%)	9mo	$90,000	$74	37
1515 Biltmore Blvd	1.36mi	3/1.5 (-1)	1,165 (-11%)	4mo	$175,000	$150	36
1145 W Wieland Rd	1.49mi	3/1.5 (-1)	1,140 (-13%)	2mo	$200,000	$175	35
1410 W Valley Rd	1.25mi	3/1.0 (-1)	1,200 (-8%)	10mo	$205,000	$171	34
1807 Shady Oak Ln	1.28mi	3/2.0 (-1)	1,547 (+18%)	2mo	$196,000	$127	33
2916 Wilson Ave	1.50mi	3/2.0 (-1)	1,566 (+20%)	2mo	$235,000	$150	33
3104 Westwood Ave	1.39mi	3/1.0 (-1)	1,412 (+8%)	14mo	$158,500	$112	32
15918 Turner Rd	0.92mi	3/1.0 (-1)	1,491 (+14%)	8mo	$103,000	$69	26
1372 W Valley Rd	1.30mi	4/1.0	1,578 (+21%)	14mo	$205,000	$130	24
15792 Turner Rd	0.88mi	3/1.0 (-1)	1,125 (-14%)	14mo	$121,250	$108	20
1140 W Wieland Rd	1.49mi	3/1.0 (-1)	1,512 (+16%)	14mo	$167,000	$110	19

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: 14.1%
• Equity multiple: 1.60×
• Total profit: $20,930
• Equity at exit: $18,638

10-year hold

• IRR: 26.4%
• Equity multiple: 3.89×
• Total profit: $101,168
• Equity at exit: $10,808

Cash invested: $35,000 (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 →

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Median asking: $110,000 ($98/sqft)
• Median days on market: 67 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +25.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48906

• Rents YoY: 10.5%
• Active inventory: 195
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,730 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $503

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 66%

Sensitivity live

Price	-10% $589	-5% $546	+0% $503	+5% $460	+10% $416
Rent	-10% $366	-5% $434	+0% $503	+5% $571	+10% $639
Rate	-1.0pp $566	-0.5pp $535	base $503	+0.5pp $470	+1.0pp $437

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: $31,250
• Closing costs: $3,750
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16751 Turner Rd Lansing, MI	4.0	2.0	1344	$1,599	$1.19	63d	1	1.42mi

Property features AI

Exterior

• Utilities: Public water
• Home design: Craftsman-style single-family homeOne building with living area reported as 1,309
• Construction: Built in 1892Vinyl siding
• Exterior features: Lot approximately 0.45 acresPublic water

Interior

• Kitchen: RangeRefrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Nine total roomsRangeRefrigerator

Listing history 33 events

1. 2026-07-08
   days on market $125,000 Active 90 DOM
2. 2026-07-07
   days on market $125,000 Active 89 DOM
3. 2026-07-06
   days on market $125,000 Active 88 DOM
4. 2026-07-05
   days on market $125,000 Active 87 DOM
5. 2026-07-04
   days on market $125,000 Active 86 DOM
6. 2026-07-03
   days on market $125,000 Active 85 DOM
7. 2026-07-02
   days on market $125,000 Active 84 DOM
8. 2026-07-01
   days on market $125,000 Active 83 DOM
9. 2026-06-30
   days on market $125,000 Active 82 DOM
10. 2026-06-29
    days on market $125,000 Active 81 DOM
11. 2026-06-28
    days on market $125,000 Active 80 DOM
12. 2026-06-28
    days on market $125,000 Active 79 DOM
13. 2026-06-27
    days on market $125,000 Active 78 DOM
14. 2026-06-25
    days on market $125,000 Active 76 DOM
15. 2026-06-23
    days on market $125,000 Active 74 DOM
16. 2026-06-21
    days on market $125,000 Active 73 DOM
17. 2026-06-18
    days on market $125,000 Active 70 DOM
18. 2026-06-17
    days on market $125,000 Active 69 DOM
19. 2026-06-16
    days on market $125,000 Active 68 DOM
20. 2026-06-15
    days on market $125,000 Active 67 DOM
21. 2026-06-14
    days on market $125,000 Active 65 DOM
22. 2026-06-13
    days on market $125,000 Active 64 DOM
23. 2026-06-10
    days on market $125,000 Active 62 DOM
24. 2026-06-09
    days on market $125,000 Active 61 DOM
25. 2026-06-08
    days on market $125,000 Active 60 DOM
26. 2026-06-07
    days on market $125,000 Active 59 DOM
27. 2026-06-05
    days on market $125,000 Active 56 DOM
28. 2026-06-03
    days on market $125,000 Active 55 DOM
29. 2026-06-02
    days on market $125,000 Active 54 DOM
30. 2026-06-01
    days on market $125,000 Active 53 DOM
31. 2026-05-31
    days on market $125,000 Active 52 DOM
32. 2026-05-30
    days on market $125,000 Active 51 DOM
33. 2026-04-09
    listed $125,000 Active 522-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,758
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$3,636
• Taxable income: $4,298
• Est. tax owed @ 24.0%: −$1,032
• After-tax cash flow: $5,001/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $6,545–$19,635 screening

This updated two-story home offers 4 bedrooms and 2 bathrooms with a good condition and minimal repairs needed. It presents an opportunity for investors to convert it back to a single-family home or maintain its current configuration as a rental property.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and property value. ↑
• Both Replace carpet in bedrooms — Improves comfort and appearance, attracting more tenants. ↑
• Both Clean and maintain HVAC system — Ensures efficient operation and attracts tenants with a well-maintained home. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Lewton School

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

B Composite livability gradescore 79/100

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 · 81,490 people
• City population: 161,269
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 25,901
• Household income: $64,315
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 16% of renters

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Population outlook (Clinton County) Hauer SSP2

• Today (2025): 81,490 people
• By 2030: 82,558 · +1.3%
• By 2040: 82,325 · +1.0%
• By 2050: 79,133 · -2.9%
• By 2075: 65,737 · -19.3%
• By 2100: 51,314 · -37.0%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Black 15% Two or more races 12% Hispanic / Latino 12% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Asian/Pacific 1% French/Haitian/Cajun 1%

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Political lean MEDSL · Clinton

• 2024 margin: Lean R (+8.6) · D 44.9% · R 53.5% · Other 1.5%
• 2008→2024 swing: -9.3pp toward R · 2008: 0.7pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+6.5 2016: R+12.7 2012: R+6.2 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.54%
• Current HPI: 228.7023
• Rent YoY: ▲ 10.50%
• Metro: Lansing-East Lansing, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

Property features AI

Exterior

• Utilities: Public water
• Home design: Craftsman-style single-family homeOne building with living area reported as 1,309
• Construction: Built in 1892Vinyl siding
• Exterior features: Lot approximately 0.45 acresPublic water

Interior

• Kitchen: RangeRefrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Nine total roomsRangeRefrigerator

Price history

1 event — show timeline

• 2026-04-09 Listed $125,000 SW Michigan MLS