1019 N Jenison Ave · Lansing, MI 48915

$129,900

4 bd · 2.0 ba · 1,224 sqft · SingleFamily public records · 25 Days on market

Built 1926 5,227 sqft lot $106/sqft · 8% below area Est $142k · 8% 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 +22.5/30.0
• ARV discount +11.3/15.0
• DSCR +7.2/10.0
• 1% rule +7.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Public Remarks Adorable four bedrooms, 2 full bathrooms house on quiet street. Spacious living room, dining room and kitchen. Hardwood floors and loaded with charm and character. Full basement, ready to finish. Nice fenced yard, garage with opener. Wonderful potential! Convenient location and well established neighborhood! Great starter home for 1st time buyer! Call for private showings!

Key facts

• Fenced yard
• Full basement
• Garage with opener

Tags

• FULL BASEMENT
• FENCED YARD
• GARAGE WITH OPENER
• WELL ESTABLISHED NEIGHBORHOOD

Property features AI

Exterior

• Parking: Attached 1-car garage with garage door opener
• Utilities: Public sewer
• Home design: Cape Cod style; Two levels; Built in 1926
• Construction: Aluminum siding
• Exterior features: Back yard; Front porch and additional porch; Shingle roof

Interior

• Kitchen: Oven; Range; Microwave; Refrigerator
• Bedrooms: 4 bedrooms (Primary Bedroom included)
• Flooring: Combination flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Combination flooring; Full basement
• Laundry & utility: Washer and Dryer; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: 68 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 34% of the median local income ($54k/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 $898 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Built in 1926 — 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: 1.20% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.23%
• DSCR: 1.32
• GRM: 6.9

CMA / ARV

• ARV (median comp): $141,946
• List price: $129,900
• Delta: -8.49%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
920 Clyde St	0.26mi	3/1.5 (-1)	1,204 (-2%)	2mo	$170,000	$141	77
916 Cleo St	0.19mi	3/1.5 (-1)	1,124 (-8%)	0mo	$172,000	$153	70
1100 Comfort St	0.07mi	3/1.0 (-1)	1,108 (-10%)	2mo	$132,000	$119	70
1629 N Genesee Dr	0.41mi	3/2.0 (-1)	1,176 (-4%)	1mo	$213,800	$182	68
1422 Comfort St	0.33mi	4/1.5	1,342 (+10%)	0mo	$160,000	$119	66
1043 Ontario St	0.40mi	3/1.0 (-1)	1,152 (-6%)	2mo	$54,900	$48	61
919 Princeton Ave	0.37mi	3/1.5 (-1)	1,119 (-9%)	2mo	$60,000	$54	60
502 N Butler Blvd	0.65mi	3/1.0 (-1)	1,176 (-4%)	1mo	$144,000	$122	54
1217 W Shiawassee St	0.62mi	3/1.5 (-1)	1,316 (+8%)	3mo	$147,000	$112	49
1621 Robertson Ave	0.58mi	3/1.5 (-1)	1,108 (-10%)	3mo	$110,000	$99	48
905 N Sycamore St	0.58mi	3/1.5 (-1)	1,368 (+12%)	0mo	$130,000	$95	46
1537 Roselawn Ave	0.49mi	3/1.5 (-1)	1,054 (-14%)	4mo	$104,500	$99	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-6,994
• Equity at exit: $19,369

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $12,274
• Equity at exit: $11,231

Cash invested: $36,372 (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 48915

• Active inventory: 68
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,563 high
• Mortgage (P&I): −$681
• Tax from tax record: −$280 /mo · $3,363/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $219

Break-even live

Break-even rent $1,286

Max offer price $129,900

Occupancy floor 81%

Sensitivity live

Price	-10% $293	-5% $256	+0% $219	+5% $182	+10% $146
Rent	-10% $96	-5% $157	+0% $219	+5% $281	+10% $343
Rate	-1.0pp $285	-0.5pp $252	base $219	+0.5pp $186	+1.0pp $151

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
919 Princeton Ave Lansing, MI	3.0	1.5	1119	$1,475	$1.32	22d	1	0.37mi
1012 Ontario St Lansing, MI	4.0	2.0	1320	$1,600	$1.21	22d	1	0.45mi
712 N Sycamore St Lansing, MI	3.0	1.0	1100	$1,650	$1.50	22d	1	0.67mi
433 Seymour Ave Unit 3 Lansing, MI	3.0	1.0	1250	$1,395	$1.12	44d	1	1.03mi
400 N Catherine St Lansing, MI	3.0	1.0	760	$1,395	$1.84	14d	1	1.03mi
1330 W Hillsdale St Lansing, MI	3.0	1.0	1008	$1,550	$1.54	44d	1	1.27mi

Listing history 16 events

1. 2026-06-10
   status $129,900 Pending 25 DOM
2. 2026-06-09
   days on market $129,900 Active Under Contract 25 DOM

   Show marketing remark (391 chars)

   Public Remarks Adorable four bedrooms, 2 full bathrooms house on quiet street. Spacious living room, dining room and kitchen. Hardwood floors and loaded with charm and character. Full basement, ready to finish. Nice fenced yard, garage with opener. Wonderful potential! Convenient location and well established neighborhood! Great starter home for 1st time buyer! Call for private showings!

3. 2026-06-08
   days on market $129,900 Active Under Contract 24 DOM
4. 2026-06-07
   days on market $129,900 Active Under Contract 23 DOM
5. 2026-06-05
   days on market $129,900 Active Under Contract 20 DOM
6. 2026-06-03
   days on market $129,900 Active Under Contract 19 DOM
7. 2026-06-02
   days on market $129,900 Active Under Contract 18 DOM
8. 2026-06-01
   days on market $129,900 Active Under Contract 17 DOM
9. 2026-05-31
   days on market $129,900 Active Under Contract 16 DOM
10. 2026-05-30
    days on market $129,900 Active Under Contract 15 DOM
11. 2026-05-15
    listed $129,900 Active 391-char remark

    Show marketing remark (391 chars)

    Public Remarks Adorable four bedrooms, 2 full bathrooms house on quiet street. Spacious living room, dining room and kitchen. Hardwood floors and loaded with charm and character. Full basement, ready to finish. Nice fenced yard, garage with opener. Wonderful potential! Convenient location and well established neighborhood! Great starter home for 1st time buyer! Call for private showings!

12. 2026-05-15
    listed $129,900 Active 391-char remark

    Show marketing remark (391 chars)

    Public Remarks Adorable four bedrooms, 2 full bathrooms house on quiet street. Spacious living room, dining room and kitchen. Hardwood floors and loaded with charm and character. Full basement, ready to finish. Nice fenced yard, garage with opener. Wonderful potential! Convenient location and well established neighborhood! Great starter home for 1st time buyer! Call for private showings!

13. 2012-01-31
    historical
14. 2011-07-27
    listed $60,000
15. 2010-10-10
    historical
16. 2010-04-10
    listed $79,000

ⓘ 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: $3,363 · $280/mo
• Projected year-2 tax: $3,363 · $280/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: $18,756
• − Mortgage interest: −$7,276
• − Property taxes: −$3,363
• − Insurance: −$650
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − Depreciation: −$3,779
• Taxable income: $687
• Est. tax owed @ 24.0%: −$165
• After-tax cash flow: $2,465/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): 9,428
• Household income: $54,465
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 307.0

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 0.64)
• Race & ethnicity: White 54% Black 24% Two or more races 13% Hispanic / Latino 13%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 7% Lithuanian 2% Iranian 2%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 90% English-only · Spanish 7% Other Asian/Pacific 1% German/W. Germanic 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: ▼ -129.90%
• Current HPI: 177.0906
• Rent YoY: —
• 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

+64.4% since first listed

10 events — show timeline

• 2026-06-09 Pending — REALCOMP
• 2026-06-09 Pending — Greater Lansing AoR
• 2026-05-27 Contingent — REALCOMP
• 2026-05-27 Contingent — Greater Lansing AoR
• 2026-05-15 Listed $129,900 Greater Lansing AoR
• 2026-05-15 Listed $129,900 REALCOMP
• 2012-01-31 Listing Removed — Greater Lansing AoR
• 2011-07-27 Listed $60,000 Greater Lansing AoR
• 2010-10-10 Listing Removed — Greater Lansing AoR
• 2010-04-10 Listed $79,000 Greater Lansing AoR

Property tax history

+3.5%/yr

Latest (2025): $3,363 · +3.0% YoY. Source: county tax records.