3220 W Miller Rd · Lansing, MI 48911

$89,900

2 bd · 1.0 ba · 802 sqft · SingleFamily public records · 25 Days on market

Built 1950 0.91 ac lot Est $112k · 20% under ↓ 28% since listing

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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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +7.6/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * MOTIVATED SELLER SAYS MAKE AN OFFER * * * Charming home situated on an amazing . 9 acre lot. Updated roof, furnace and water heater. Wonderful deck overlooks the huge backyard with private wooded views. Sheds for additional storage. Room measurements are approximate per MLS requirement. Property taxes are estimated based on current 100% homestead millage rate and estimated taxable value.

Key facts

• Huge backyard
• 0.9 acre lot
• Updated water heater

Tags

• 0.9 ACRE LOT
• UPDATED ROOF
• UPDATED FURNACE
• UPDATED WATER HEATER
• HUGE BACKYARD
• PRIVATE WOODED VIEWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 (+9.9%/yr); 143 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $622 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 3 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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 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?
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: 1.26% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.16%
• DSCR: 1.50
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $112,280
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3220 W Miller Rd	0.00mi	2/1.0	802 (0%)	1mo	$87,500	$109	99
3400 Danbury Crossroad St	0.17mi	3/1.0 (+1)	900 (+12%)	8mo	$113,200	$126	60
3537 Coachlight Cmn	0.19mi	3/1.0 (+1)	892 (+11%)	12mo	$111,390	$125	58
5731 Pheasant Ave	0.67mi	2/1.0	768 (-4%)	8mo	$135,000	$176	55
3619 Coachlight Common St	0.29mi	3/2.0 (+1)	892 (+11%)	9mo	$120,000	$135	52
3659 Coachlight Common St	0.37mi	3/1.0 (+1)	892 (+11%)	13mo	$125,000	$140	48
6000 Pheasant Ave	0.56mi	2/1.0	720 (-10%)	11mo	$110,000	$153	48
3741 Fox Pointe South	0.48mi	3/1.0 (+1)	892 (+11%)	9mo	$154,000	$173	47
2431 Webster St	0.53mi	3/1.0 (+1)	884 (+10%)	15mo	$132,000	$149	41
2431 Radford Rd	0.55mi	2/1.5	890 (+11%)	16mo	$95,000	$107	41

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: 6.1%
• Equity multiple: 1.25×
• Total profit: $6,385
• Equity at exit: $13,404

10-year hold

• IRR: 19.8%
• Equity multiple: 3.08×
• Total profit: $52,255
• Equity at exit: $7,773

Cash invested: $25,172 (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 48911

• Rents YoY: 9.9%
• Active inventory: 143
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,136 high
• Mortgage (P&I): −$471
• Tax from tax record: −$155 /mo · $1,855/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $234

Break-even live

Break-even rent $840

Max offer price $89,900

Occupancy floor 74%

Sensitivity live

Price	-10% $285	-5% $259	+0% $234	+5% $209	+10% $183
Rent	-10% $144	-5% $189	+0% $234	+5% $279	+10% $324
Rate	-1.0pp $279	-0.5pp $257	base $234	+0.5pp $211	+1.0pp $187

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2420 Radford Rd Lansing, MI	2.0	1.0	768	$1,200	$1.56	14d	1	0.62mi
2700 Eaton Rapids Rd Lansing, MI	3.0	2.0	1136	$1,304	$1.15	14d	1	0.79mi
2010 Georgetown Blvd Lansing, MI	1.0–2.0	1.0	836	$1,188	$1.42	14d	8	0.81mi
4030 Hartford Rd Lansing, MI	1.0–2.0	1.0	640	$1,094	$1.71	14d	42	0.97mi
3530 W Jolly Rd Unit 6 Lansing, MI	2.0	1.0	1049	$1,100	$1.05	22d	1	1.01mi

Listing history 16 events

1. 2026-05-18
   status Pending 401-char remark

   Show marketing remark (401 chars)

   * * * MOTIVATED SELLER SAYS MAKE AN OFFER * * * Charming home situated on an amazing . 9 acre lot. Updated roof, furnace and water heater. Wonderful deck overlooks the huge backyard with private wooded views. Sheds for additional storage. Room measurements are approximate per MLS requirement. Property taxes are estimated based on current 100% homestead millage rate and estimated taxable value.

2. 2026-05-18
   status Pending

   Show marketing remark (401 chars)

   * * * MOTIVATED SELLER SAYS MAKE AN OFFER * * * Charming home situated on an amazing . 9 acre lot. Updated roof, furnace and water heater. Wonderful deck overlooks the huge backyard with private wooded views. Sheds for additional storage. Room measurements are approximate per MLS requirement. Property taxes are estimated based on current 100% homestead millage rate and estimated taxable value.

3. 2026-05-01
   historical Active Under Contract 401-char remark

   Show marketing remark (401 chars)

   * * * MOTIVATED SELLER SAYS MAKE AN OFFER * * * Charming home situated on an amazing . 9 acre lot. Updated roof, furnace and water heater. Wonderful deck overlooks the huge backyard with private wooded views. Sheds for additional storage. Room measurements are approximate per MLS requirement. Property taxes are estimated based on current 100% homestead millage rate and estimated taxable value.

4. 2026-05-01
   historical Active Under Contract

   Show marketing remark (401 chars)

   * * * MOTIVATED SELLER SAYS MAKE AN OFFER * * * Charming home situated on an amazing . 9 acre lot. Updated roof, furnace and water heater. Wonderful deck overlooks the huge backyard with private wooded views. Sheds for additional storage. Room measurements are approximate per MLS requirement. Property taxes are estimated based on current 100% homestead millage rate and estimated taxable value.

5. 2026-04-23
   listed $89,900 Active 401-char remark

   Show marketing remark (401 chars)

   * * * MOTIVATED SELLER SAYS MAKE AN OFFER * * * Charming home situated on an amazing . 9 acre lot. Updated roof, furnace and water heater. Wonderful deck overlooks the huge backyard with private wooded views. Sheds for additional storage. Room measurements are approximate per MLS requirement. Property taxes are estimated based on current 100% homestead millage rate and estimated taxable value.

6. 2026-04-23
   listed $89,900 Active

   Show marketing remark (401 chars)

   * * * MOTIVATED SELLER SAYS MAKE AN OFFER * * * Charming home situated on an amazing . 9 acre lot. Updated roof, furnace and water heater. Wonderful deck overlooks the huge backyard with private wooded views. Sheds for additional storage. Room measurements are approximate per MLS requirement. Property taxes are estimated based on current 100% homestead millage rate and estimated taxable value.

7. 2026-04-23
   historical

   Show marketing remark (401 chars)

   * * * MOTIVATED SELLER SAYS MAKE AN OFFER * * * Charming home situated on an amazing . 9 acre lot. Updated roof, furnace and water heater. Wonderful deck overlooks the huge backyard with private wooded views. Sheds for additional storage. Room measurements are approximate per MLS requirement. Property taxes are estimated based on current 100% homestead millage rate and estimated taxable value.

8. 2026-04-17
   price $94,900
9. 2026-04-17
   price $94,900
10. 2026-04-06
    price $99,900
11. 2026-04-06
    price $99,900
12. 2026-03-27
    price $109,000
13. 2026-03-27
    price $109,000
14. 2026-03-23
    price $114,000
15. 2026-03-23
    price $114,000
16. 2026-03-18
    listed $124,900 Active

ⓘ 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: $1,855 · $155/mo
• Projected year-2 tax: $1,855 · $155/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 ≥97°F today · 16 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: $13,633
• − Mortgage interest: −$5,036
• − Property taxes: −$1,855
• − Insurance: −$450
• − Repairs & maintenance: −$1,091
• − Management: −$1,091
• − Depreciation: −$2,615
• Taxable income: $1,496
• Est. tax owed @ 24.0%: −$359
• After-tax cash flow: $2,449/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): 39,876
• Household income: $56,631
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 2255.0

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 0.70)
• Race & ethnicity: White 46% Black 26% Hispanic / Latino 14% Two or more races 10% Asian 8%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 3% Slovak 2% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam, Philippines
• Languages at home: 83% English-only · Spanish 5% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -179.62%
• Current HPI: 176.0632
• Rent YoY: ▲ 9.90%
• 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

-28.0% since first listed

16 events — show timeline

• 2026-05-18 Pending — REALCOMP
• 2026-05-18 Pending — Greater Lansing AoR
• 2026-05-01 Contingent — REALCOMP
• 2026-05-01 Contingent — Greater Lansing AoR
• 2026-04-23 Listed $89,900 REALCOMP
• 2026-04-23 Listing Removed — REALCOMP
• 2026-04-23 Listed $89,900 Greater Lansing AoR
• 2026-04-17 Price Changed $94,900 REALCOMP
• 2026-04-17 Price Changed $94,900 Greater Lansing AoR
• 2026-04-06 Price Changed $99,900 REALCOMP
• 2026-04-06 Price Changed $99,900 Greater Lansing AoR
• 2026-03-27 Price Changed $109,000 REALCOMP
• 2026-03-27 Price Changed $109,000 Greater Lansing AoR
• 2026-03-23 Price Changed $114,000 REALCOMP
• 2026-03-23 Price Changed $114,000 Greater Lansing AoR
• 2026-03-18 Listed $124,900 REALCOMP

Property tax history

-1.2%/yr

Latest (2025): $1,855 · +2.9% YoY. Source: county tax records.