1213 E Kalamazoo St · Lansing, MI 48912

$74,500

2 bd · 1.0 ba · 646 sqft · SingleFamily public records · 53 Days on market

Built 1904 4,356 sqft lot $115/sqft · 16% below area Est $89k · 16% 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 +23.0/30.0
• ARV discount +14.8/15.0
• 1% rule +9.3/10.0
• DSCR +7.4/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why rent when you can own? This charming 2-bedroom, 1-bath home offers an affordable opportunity to start building equity for less than the cost of rent. Step inside to find a functional layout with comfortable living space, a bright kitchen, and cozy bedrooms. Whether you're a first-time buyer, downsizing, or looking for an investment property, this home checks all the boxes for budget-friendly living. ADDITIONAL LOT INCLUDED. Don't miss your chance to own for less!

Key facts

• 4,356 sq ft lot
• Built 1904
• Listed 53 days

Property features AI

Exterior

• Parking: Driveway parking (no attached garage)
• Utilities: 100 amp electric service; Public sewer
• Home design: One-story property; Built in 1904; Located in the Green Oak subdivision; Directions: E on Kalamazoo
• Construction: Vinyl siding exterior; Shingle roof; Built in 1904
• Exterior features: Shingle roof; Vinyl siding; Lot about 0.1 acre (approx. 64 x 66)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms (Primary bedroom included)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Basement is partial with concrete floor; Dining room; Living room
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $72k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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, 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 (+7.0%/yr); 98 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 63% 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 $515 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 + 7.0% rent growth), your $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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 $27k; list at $74k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,265 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.43% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• GRM: 5.8

CMA / ARV

• ARV (median comp): $88,934
• List price: $74,500
• Delta: -16.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
906 Bensch St	0.35mi	2/1.0	704 (+9%)	8mo	$50,000	$71	62
515 S Clemens Ave	0.62mi	1/1.0 (-1)	659 (+2%)	5mo	$42,000	$64	59
517 S Clemens Ave	0.62mi	2/1.0	693 (+7%)	2mo	$58,000	$84	57
506 S East St	0.47mi	2/1.0	720 (+12%)	2mo	$52,000	$72	57
1809 E Kalamazoo St	0.49mi	2/1.0	640 (-1%)	23mo	$90,000	$141	57
1245 Parkview St	0.57mi	3/1.0 (+1)	702 (+9%)	1mo	$112,000	$160	54
2010 Prospect St	0.62mi	1/1.0 (-1)	624 (-3%)	14mo	$70,000	$112	48
1231 S Holmes St	0.70mi	2/1.0	618 (-4%)	16mo	$62,177	$101	47
412 S Clemens Ave	0.58mi	2/1.0	701 (+8%)	18mo	$104,900	$150	43
1208 Lathrop St	0.70mi	3/1.0 (+1)	670 (+4%)	18mo	$60,000	$90	41
423 S Magnolia Ave	0.73mi	2/1.0	732 (+13%)	22mo	$81,000	$111	25

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 · 7.02% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $981
• Equity at exit: $11,108

10-year hold

• IRR: 15.4%
• Equity multiple: 2.55×
• Total profit: $32,248
• Equity at exit: $6,441

Cash invested: $20,860 (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 48912

• Rents YoY: 7.0%
• Active inventory: 98
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,065 high
• Mortgage (P&I): −$391
• Tax from tax record: −$287 /mo · $3,447/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $132

Break-even live

Break-even rent $897

Max offer price $74,500

Occupancy floor 83%

Sensitivity live

Price	-10% $378	-5% $154	+0% $132	+5% $111	+10% $90
Rent	-10% $48	-5% $90	+0% $132	+5% $175	+10% $217
Rate	-1.0pp $170	-0.5pp $151	base $132	+0.5pp $113	+1.0pp $94

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: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 S Hosmer St Unit 1 Lansing, MI	1.0	1.0	500	$795	$1.59	23d	1	0.39mi
2010 E Michigan Ave Unit 209 Lansing, MI	1.0	1.0	730	$1,350	$1.85	16d	1	0.65mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	46d	1	0.74mi
2208 Marcus St Lansing, MI	3.0	1.0	616	$1,175	$1.91	23d	1	0.74mi
509 Cherry St Unit 2 Lansing, MI	1.0	1.0	550	$975	$1.77	23d	1	0.77mi
313 E Saint Joseph St Lansing, MI	2.0	1.0	475	$1,150	$2.42	16d	7	0.78mi
1420 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$750	$1.07	23d	3	0.91mi
1424 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$915	$1.31	46d	1	0.93mi
825 S Washington Ave Apt 103 Lansing, MI	1.0	1.0	520	$1,095	$2.11	46d	1	0.97mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	23d	3	0.99mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	46d	9	0.99mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	16d	1	1.06mi
936 N Fairview Ave Lansing, MI	1.0–2.0	1.0	825	$1,245	$1.51	46d	2	1.21mi
420 S Walnut St Lansing, MI	1.0	1.0	525	$875	$1.67	46d	1	1.21mi
515 S Chestnut St Lansing, MI	1.0	1.0	646	$942	$1.46	16d	8	1.24mi
427 Seymour Ave Unit 205 Lansing, MI	1.0	1.0	570	$1,100	$1.93	46d	1	1.24mi
427 Seymour Ave Unit 102 Lansing, MI	1.0	1.0	540	$850	$1.57	23d	1	1.24mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	23d	1	1.24mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	46d	1	1.24mi
307 N Walnut St Unit 307 Lansing, MI	1.0	1.0	550	$1,100	$2.00	46d	1	1.26mi
220 W Lapeer St Unit 3 Lansing, MI	1.0	1.0	450	$850	$1.89	46d	1	1.27mi
801 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	550	$950	$1.73	46d	1	1.33mi
801 N Capitol Ave Unit 4 Lansing, MI	1.0	1.0	600	$1,000	$1.67	46d	1	1.33mi
316 W Saginaw St Unit 318 Lansing, MI	1.0	1.0	750	$950	$1.27	46d	1	1.37mi
1025 N Washington Ave Unit 9 Lansing, MI	1.0	1.0	670	$1,000	$1.49	46d	1	1.43mi
504 W Lapeer St Apt A Lansing, MI	2.0	1.0	600	$895	$1.49	46d	1	1.44mi
1016 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	700	$850	$1.21	46d	1	1.45mi
1016 N Capitol Ave Unit 3 Lansing, MI	1.0	1.0	500	$800	$1.60	46d	1	1.45mi
826 N Walnut St Lansing, MI	1.0	1.0	700	$700	$1.00	46d	2	1.46mi
917 Seymour Ave Unit 3 Lansing, MI	1.0	1.0	475	$800	$1.68	46d	1	1.47mi

Listing history 29 events

1. 2026-06-23
   days on market $74,500 Active 53 DOM
2. 2026-06-21
   days on market $74,500 Active 52 DOM
3. 2026-06-18
   days on market $74,500 Active 49 DOM
4. 2026-06-17
   days on market $74,500 Active 48 DOM
5. 2026-06-16
   days on market $74,500 Active 47 DOM
6. 2026-06-15
   days on market $74,500 Active 46 DOM
7. 2026-06-14
   days on market $74,500 Active 44 DOM
8. 2026-06-13
   days on market $74,500 Active 43 DOM
9. 2026-06-10
   days on market $74,500 Active 41 DOM
10. 2026-06-09
    days on market $74,500 Active 40 DOM
11. 2026-06-08
    days on market $74,500 Active 39 DOM
12. 2026-06-07
    days on market $74,500 Active 38 DOM
13. 2026-06-05
    days on market $74,500 Active 35 DOM
14. 2026-06-03
    days on market $74,500 Active 34 DOM
15. 2026-06-02
    days on market $74,500 Active 33 DOM
16. 2026-06-01
    days on market $74,500 Active 32 DOM
17. 2026-05-31
    days on market $74,500 Active 31 DOM
18. 2026-05-30
    days on market $74,500 Active 30 DOM
19. 2026-04-30
    listed $74,500 Active 471-char remark

    Show marketing remark (471 chars)

    Why rent when you can own? This charming 2-bedroom, 1-bath home offers an affordable opportunity to start building equity for less than the cost of rent. Step inside to find a functional layout with comfortable living space, a bright kitchen, and cozy bedrooms. Whether you're a first-time buyer, downsizing, or looking for an investment property, this home checks all the boxes for budget-friendly living. ADDITIONAL LOT INCLUDED. Don't miss your chance to own for less!

20. 2026-04-30
    listed $74,500 Active 472-char remark

    Show marketing remark (471 chars)

    Why rent when you can own? This charming 2-bedroom, 1-bath home offers an affordable opportunity to start building equity for less than the cost of rent. Step inside to find a functional layout with comfortable living space, a bright kitchen, and cozy bedrooms. Whether you're a first-time buyer, downsizing, or looking for an investment property, this home checks all the boxes for budget-friendly living. ADDITIONAL LOT INCLUDED. Don't miss your chance to own for less!

21. 2025-12-15
    historical
22. 2025-12-15
    historical
23. 2025-11-07
    price $75,000
24. 2025-11-06
    price $75,000
25. 2025-10-29
    listed $80,000 Active
26. 2025-10-29
    listed $80,000 Active
27. 2022-06-13
    historical
28. 2022-03-09
    listed $69,900
29. 2004-08-13
    soldstatus $27,000

ⓘ 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: $3,447 · $287/mo
• Projected year-2 tax: $3,447 · $287/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 · 14 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: $12,781
• − Mortgage interest: −$4,173
• − Property taxes: −$3,447
• − Insurance: −$372
• − Repairs & maintenance: −$1,022
• − Management: −$1,022
• − Depreciation: −$2,167
• Taxable income: $576
• Est. tax owed @ 24.0%: −$138
• After-tax cash flow: $1,451/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): 17,674
• Household income: $54,429
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 1171.0

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 56% Black 22% Two or more races 12% Hispanic / Latino 10% Asian 4%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Romanian 5% Iranian 4% Lithuanian 3%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 5% French/Haitian/Cajun 1% Korean 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: ▼ -167.67%
• Current HPI: 171.1549
• Rent YoY: ▲ 7.02%
• 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

+175.9% since first listed

11 events — show timeline

• 2026-04-30 Listed $74,500 Greater Lansing AoR
• 2026-04-30 Listed $74,500 REALCOMP
• 2025-12-15 Listing Removed — MiRealSource-MiMLS
• 2025-12-15 Listing Removed — REALCOMP
• 2025-11-07 Price Changed $75,000 MiRealSource-MiMLS
• 2025-11-06 Price Changed $75,000 REALCOMP
• 2025-10-29 Listed $80,000 MiRealSource-MiMLS
• 2025-10-29 Listed $80,000 REALCOMP
• 2022-06-13 Listing Removed — REALCOMP
• 2022-03-09 Listed $69,900 REALCOMP
• 2004-08-13 Sold (Public Records) $27,000 Public Records

Property tax history

+12.1%/yr

Latest (2025): $3,447 · -54.8% YoY. Source: county tax records.