333 N Martin Luther King Jr Blvd · Lansing, MI 48915

$124,900

3 bd · 1.0 ba · 1,484 sqft · SingleFamily public records · 21 Days on market

Built 1916 5,227 sqft lot Est $157k · 21% under ↓ 27% since listing

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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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• 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

Highest and Best due 5/26 at 3:00pm. Charming 3-bedroom, 1.5-bath home full of character and timeless details! This beautifully updated home still showcases its original charm with stunning antique doors, hardwood floors, beamed ceilings, built-in bookshelves, and a cozy fireplace. The main level features a convenient half bath, spacious living areas, and French doors leading to a bright sunroom that could also serve as a first-floor bedroom, office, or playroom. The mudroom offers built-in storage for added functionality. Upstairs you'll find 3 large bedrooms, a full bathroom, and additional built-ins at the top of the stairs. The updated kitchen includes stainless steel appliances, while the lower level offers laundry and extra storage space. Attached 1-car garage. Conveniently located near Downtown Lansing, the Michigan State Capitol, Lansing Community College, Old Town, the Lansing River Trail, restaurants, shopping, and entertainment. Taxes are non-homestead

Key facts

• Beamed ceilings
• French doors
• Antique doors

Tags

• ANTIQUE DOORS
• HARDWOOD FLOORS
• BEAMED CEILINGS
• BUILT-IN BOOKSHELVES
• COZY FIREPLACE
• FRENCH DOORS

Property features AI

Finance

• Other: Living area approximately 1484

Exterior

• Parking: Driveway; Garage (attached garage: no)
• Utilities: Public sewer
• Home design: Two levels; Built in 1916
• Construction: Vinyl siding
• Exterior features: Corner lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: Primary bedroom (12.1 x 10.5); Bedroom 2 (9.1 x 10.7); Bedroom 3 (9.1 x 10.2)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Bookcases; Natural woodwork; Fireplace in the living room; Daylight full basement
• Laundry & utility: Washer; Dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 31% 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 $864 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 21 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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.
• Current owner paid $40k; list at $125k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,026 (1.5% below list)

Questions for the listing agent

1. Built in 1916 — 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: 1.12% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.34%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $157,304
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
738 W Lapeer St	0.30mi	3/1.5	1,479 (-0%)	2mo	$158,000	$107	82
1217 W Shiawassee St	0.10mi	3/1.5	1,316 (-11%)	3mo	$147,000	$112	72
921 N Sycamore St	0.57mi	3/1.0	1,460 (-2%)	3mo	$99,900	$68	69
1613 Drexel Rd	0.38mi	3/2.5	1,428 (-4%)	1mo	$215,000	$151	69
905 N Sycamore St	0.54mi	3/1.5	1,368 (-8%)	0mo	$130,000	$95	60
1610 Inverness Ave	0.36mi	3/1.5	1,660 (+12%)	3mo	$230,000	$139	59
425 N Jenison Ave	0.29mi	3/1.5	1,691 (+14%)	3mo	$195,000	$115	58
821 N Verlinden Ave	0.69mi	3/1.5	1,428 (-4%)	3mo	$122,000	$85	57
1319 W Michigan Ave	0.32mi	4/2.0 (+1)	1,627 (+10%)	4mo	$172,000	$106	57
705 Princeton Ave	0.30mi	4/3.0 (+1)	1,662 (+12%)	4mo	$115,000	$69	50
820 Princeton Ave	0.45mi	4/1.5 (+1)	1,692 (+14%)	4mo	$129,900	$77	46
519 West St	0.74mi	3/1.5	1,692 (+14%)	1mo	$65,000	$38	39

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: -3.6%
• Equity multiple: 0.86×
• Total profit: $-4,744
• Equity at exit: $18,623

10-year hold

• IRR: 6.1%
• Equity multiple: 1.45×
• Total profit: $15,880
• Equity at exit: $10,799

Cash invested: $34,972 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,400 high
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $243

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 78%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
712 N Sycamore St Lansing, MI	3.0	1.0	1100	$1,650	$1.50	21d	1	0.45mi
731 N Sycamore St Unit 1 Lansing, MI	2.0	1.0	950	$945	$0.99	44d	1	0.46mi
919 Princeton Ave Lansing, MI	3.0	1.5	1119	$1,475	$1.32	21d	1	0.51mi
524 N Walnut St Lansing, MI	2.0	1.0	1000	$1,150	$1.15	44d	1	0.60mi
433 Seymour Ave Unit 3 Lansing, MI	3.0	1.0	1250	$1,395	$1.12	44d	1	0.63mi
1330 W Hillsdale St Lansing, MI	3.0	1.0	1008	$1,550	$1.54	44d	1	0.68mi
1012 Ontario St Lansing, MI	4.0	2.0	1320	$1,600	$1.21	21d	1	0.91mi
401 S Washington Sq Unit 201 Lansing, MI	3.0	1.0	1254	$1,560	$1.24	44d	1	0.97mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	44d	1	0.97mi
605 S Grand Ave Unit 2 Lansing, MI	4.0	1.0	1200	$1,100	$0.92	44d	1	1.13mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	14d	1	1.20mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	14d	9	1.25mi
832 N Larch St Apt 3 Lansing, MI	2.0	1.0	890	$1,095	$1.23	44d	1	1.28mi
620 May St Lansing, MI	1.0–2.0	1.0–2.0	1126	$1,578	$1.40	14d	12	1.30mi
507 S Hosmer St Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	1.50mi

Listing history 26 events

1. 2026-06-13
   status $124,900 Pending 21 DOM
2. 2026-06-10
   days on market $124,900 Active Under Contract 21 DOM
3. 2026-06-09
   days on market $124,900 Active Under Contract 20 DOM
4. 2026-06-08
   days on market $124,900 Active Under Contract 19 DOM
5. 2026-06-07
   days on market $124,900 Active Under Contract 18 DOM
6. 2026-06-05
   days on market $124,900 Active Under Contract 15 DOM
7. 2026-06-03
   days on market $124,900 Active Under Contract 14 DOM
8. 2026-06-02
   days on market $124,900 Active Under Contract 13 DOM
9. 2026-06-01
   days on market $124,900 Active Under Contract 12 DOM
10. 2026-05-31
    days on market $124,900 Active Under Contract 11 DOM
11. 2026-05-30
    days on market $124,900 Active Under Contract 10 DOM
12. 2026-05-20
    listed $124,900 Active 977-char remark

    Show marketing remark (977 chars)

    Highest and Best due 5/26 at 3:00pm. Charming 3-bedroom, 1.5-bath home full of character and timeless details! This beautifully updated home still showcases its original charm with stunning antique doors, hardwood floors, beamed ceilings, built-in bookshelves, and a cozy fireplace. The main level features a convenient half bath, spacious living areas, and French doors leading to a bright sunroom that could also serve as a first-floor bedroom, office, or playroom. The mudroom offers built-in storage for added functionality. Upstairs you'll find 3 large bedrooms, a full bathroom, and additional built-ins at the top of the stairs. The updated kitchen includes stainless steel appliances, while the lower level offers laundry and extra storage space. Attached 1-car garage. Conveniently located near Downtown Lansing, the Michigan State Capitol, Lansing Community College, Old Town, the Lansing River Trail, restaurants, shopping, and entertainment. Taxes are non-homestead

13. 2026-05-20
    listed $124,900 Active

    Show marketing remark (977 chars)

    Highest and Best due 5/26 at 3:00pm. Charming 3-bedroom, 1.5-bath home full of character and timeless details! This beautifully updated home still showcases its original charm with stunning antique doors, hardwood floors, beamed ceilings, built-in bookshelves, and a cozy fireplace. The main level features a convenient half bath, spacious living areas, and French doors leading to a bright sunroom that could also serve as a first-floor bedroom, office, or playroom. The mudroom offers built-in storage for added functionality. Upstairs you'll find 3 large bedrooms, a full bathroom, and additional built-ins at the top of the stairs. The updated kitchen includes stainless steel appliances, while the lower level offers laundry and extra storage space. Attached 1-car garage. Conveniently located near Downtown Lansing, the Michigan State Capitol, Lansing Community College, Old Town, the Lansing River Trail, restaurants, shopping, and entertainment. Taxes are non-homestead

14. 2022-02-17
    status Pending
15. 2022-02-17
    historical
16. 2021-11-29
    price $109,900
17. 2021-11-02
    price $114,900
18. 2021-10-13
    listed $119,900 Active
19. 2019-10-21
    soldstatus $40,000
20. 2019-01-15
    historical
21. 2019-01-15
    historical
22. 2018-11-21
    listed $85,000
23. 2018-11-21
    listed $85,000
24. 2006-10-18
    historical
25. 2006-04-18
    listed $103,900
26. 2004-11-30
    soldstatus $170,000

ⓘ 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 (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: $16,802
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$3,633
• Taxable income: $986
• Est. tax owed @ 24.0%: −$237
• After-tax cash flow: $2,679/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

-26.5% since first listed

15 events — show timeline

• 2026-05-20 Listed $124,900 Greater Lansing AoR
• 2026-05-20 Listed $124,900 REALCOMP
• 2022-02-17 Pending — Greater Lansing AoR
• 2022-02-17 Listing Removed — Greater Lansing AoR
• 2021-11-29 Price Changed $109,900 Greater Lansing AoR
• 2021-11-02 Price Changed $114,900 Greater Lansing AoR
• 2021-10-13 Listed $119,900 Greater Lansing AoR
• 2019-10-21 Sold (Public Records) $40,000 Public Records
• 2019-01-15 Listing Removed — MiRealSource-MiMLS
• 2019-01-15 Listing Removed — REALCOMP
• 2018-11-21 Listed $85,000 MiRealSource-MiMLS
• 2018-11-21 Listed $85,000 REALCOMP
• 2006-10-18 Listing Removed — Greater Lansing AoR
• 2006-04-18 Listed $103,900 Greater Lansing AoR
• 2004-11-30 Sold (Public Records) $170,000 Public Records

Property tax history

-7.3%/yr

Latest (2017): $75 · -20.2% YoY. Source: county tax records.