1116 George St · Lansing, MI 48910

$124,900

3 bd · 1.0 ba · 1,415 sqft · SingleFamily public records · 52 Days on market

Built 1948 4,791 sqft lot $88/sqft · 21% below area Est $147k · 15% 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 +14.8/30.0
• ARV discount +14.3/15.0
• 1% rule +5.9/10.0
• DSCR +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming cape cod packs a lot into its footprint! With 3 bedrooms, a light-filled kitchen, wood burning fireplace and cozy living room, you'll feel right at home the moment you walk in. The main floor offers easy living with a seamless flow, while the upstairs provides that bonus bedroom, home office, or flexible space you've been craving. A full basement adds extra storage or rec space, and the detached garage is a huge plus.

Key facts

• Bonus bedroom
• Flexible space
• Cozy living room

Tags

• LIGHT FILLED KITCHEN
• WOOD BURNING FIREPLACE
• COZY LIVING ROOM
• BONUS BEDROOM
• HOME OFFICE
• FLEXIBLE SPACE

Property features AI

Exterior

• Parking: Detached garage; Driveway parking
• Utilities: Public sewer
• Home design: One and one-half story home; Built in 1948
• Construction: Aluminum, shingle, and wood siding
• Exterior features: Back yard; Lot approximately 46 x 105

Interior

• Kitchen: Dishwasher; Garbage disposal; Oven; Range; Refrigerator
• Bedrooms: 3 bedrooms (Primary bedroom approximately 11 x 10; Bedroom 2 approximately 10 x 9; Bedroom 3 approximately 19 x 9)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Wood-burning fireplace; Full basement, partially finished; Backyard access
• Laundry & utility: Laundry located inside

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 $33 ($400/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: $121k (3.0% below list) — sets the bar for market timing.

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 (+4.7%/yr); 175 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $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 52 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $83k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 1948 — 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: 1.09% ✓
• Cap rate: 6.61%
• Cash-on-cash: 1.14%
• DSCR: 1.05
• GRM: 7.7

CMA / ARV

• ARV (median comp): $147,177
• List price: $124,900
• Delta: -15.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1208 Gordon Ave	0.32mi	3/1.5	1,451 (+2%)	0mo	$179,900	$124	78
1520 Park Ave	0.27mi	3/1.5	1,360 (-4%)	2mo	$194,000	$143	78
915 Braman St	0.31mi	3/1.0	1,505 (+6%)	1mo	$149,000	$99	74
2016 Pattengill Ave	0.30mi	3/1.0	1,502 (+6%)	3mo	$215,900	$144	73
1817 Gordon Ave	0.59mi	3/1.5	1,455 (+3%)	0mo	$236,000	$162	65
1735 Pattengill Ave	0.20mi	2/2.0 (-1)	1,274 (-10%)	1mo	$187,000	$147	64
1407 Park Ave	0.33mi	2/2.0 (-1)	1,503 (+6%)	2mo	$182,555	$121	64
1125 Poxson Ave	0.29mi	4/1.5 (+1)	1,274 (-10%)	1mo	$200,000	$157	62
1618 Loraine Ave	0.56mi	3/1.0	1,332 (-6%)	2mo	$175,000	$131	62
1516 Berkeley Dr	0.25mi	3/2.0	1,621 (+15%)	2mo	$221,500	$137	59
1703 Holly Way	0.75mi	3/1.5	1,368 (-3%)	2mo	$195,000	$143	56
1938 Cooper Ave	0.64mi	2/1.0 (-1)	1,333 (-6%)	1mo	$169,900	$127	55

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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.55×
• Total profit: $-15,615
• Equity at exit: $18,623

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-264
• 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 48910

• Rents YoY: 4.7%
• Active inventory: 175
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,356 high
• Mortgage (P&I): −$655
• Tax from tax record: −$330 /mo · $3,966/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $33

Break-even live

Break-even rent $1,313

Max offer price $124,900

Occupancy floor 93%

Sensitivity live

Price	-10% $104	-5% $69	+0% $33	+5% $-2	+10% $-37
Rent	-10% $-74	-5% $-20	+0% $33	+5% $87	+10% $140
Rate	-1.0pp $96	-0.5pp $65	base $33	+0.5pp $1	+1.0pp $-32

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
1913 Stirling Ave Unit 1 Lansing, MI	2.0	2.0	1100	$1,200	$1.09	45d	1	0.23mi
1317 Lenore Ave Lansing, MI	2.0	1.5	1442	$850	$0.59	45d	1	0.25mi
1815 Potomac Cir Lansing, MI	2.0	1.0	1002	$1,200	$1.20	15d	1	0.46mi
430 Dunlap St Lansing, MI	2.0	1.0	940	$1,450	$1.54	22d	1	0.94mi
1330 W Hillsdale St Lansing, MI	3.0	1.0	1008	$1,550	$1.54	45d	1	0.97mi
2528 Forest Ave Lansing, MI	4.0	1.0	1175	$1,699	$1.45	45d	1	0.99mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	15d	1	1.02mi
605 S Grand Ave Unit 2 Lansing, MI	4.0	1.0	1200	$1,100	$0.92	45d	1	1.27mi
2711 Dunlap St Lansing, MI	3.0	1.0	1020	$1,350	$1.32	45d	1	1.31mi
3501 Simken Dr Lansing, MI	2.0	1.0	900	$950	$1.06	45d	1	1.34mi
401 S Washington Sq Unit 201 Lansing, MI	3.0	1.0	1254	$1,560	$1.24	45d	1	1.36mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	45d	1	1.36mi
3313 W Mt Hope Ave Lansing, MI	2.0	1.0–2.0	869	$1,296	$1.49	15d	6	1.40mi
3407 W Mount Hope Ave Lansing, MI	2.0	2.0	1000	$995	$0.99	15d	1	1.47mi
3606 Pleasant Grove Rd Lansing, MI	1.0–2.0	1.0	812	$1,100	$1.35	45d	1	1.50mi

Listing history 37 events

1. 2026-06-21
   statusdays on market $124,900 Active Under Contract 52 DOM
2. 2026-06-18
   days on market $124,900 Active 49 DOM
3. 2026-06-17
   days on market $124,900 Active 48 DOM
4. 2026-06-16
   days on market $124,900 Active 47 DOM
5. 2026-06-15
   days on market $124,900 Active 46 DOM
6. 2026-06-14
   days on market $124,900 Active 44 DOM
7. 2026-06-13
   days on market $124,900 Active 43 DOM
8. 2026-06-10
   days on market $124,900 Active 41 DOM
9. 2026-06-09
   days on market $124,900 Active 40 DOM
10. 2026-06-08
    days on market $124,900 Active 39 DOM
11. 2026-06-07
    pricedays on market $124,900 Active 38 DOM
12. 2026-06-05
    days on market $134,900 Active 35 DOM
13. 2026-06-03
    days on market $134,900 Active 34 DOM
14. 2026-06-02
    days on market $134,900 Active 33 DOM
15. 2026-06-01
    days on market $134,900 Active 32 DOM
16. 2026-05-31
    days on market $134,900 Active 31 DOM
17. 2026-05-30
    days on market $134,900 Active 30 DOM
18. 2026-04-30
    listed $134,900 Active 430-char remark

    Show marketing remark (430 chars)

    Charming cape cod packs a lot into its footprint! With 3 bedrooms, a light-filled kitchen, wood burning fireplace and cozy living room, you'll feel right at home the moment you walk in. The main floor offers easy living with a seamless flow, while the upstairs provides that bonus bedroom, home office, or flexible space you've been craving. A full basement adds extra storage or rec space, and the detached garage is a huge plus.

19. 2026-04-30
    listed $134,900 Active 430-char remark

    Show marketing remark (430 chars)

    Charming cape cod packs a lot into its footprint! With 3 bedrooms, a light-filled kitchen, wood burning fireplace and cozy living room, you'll feel right at home the moment you walk in. The main floor offers easy living with a seamless flow, while the upstairs provides that bonus bedroom, home office, or flexible space you've been craving. A full basement adds extra storage or rec space, and the detached garage is a huge plus.

20. 2026-04-29
    historical
21. 2026-04-29
    historical
22. 2026-04-24
    historical
23. 2026-04-22
    listed $134,900 Active
24. 2025-11-24
    price $145,900
25. 2025-11-24
    price $145,900
26. 2025-10-30
    listed $155,900 Active
27. 2025-10-30
    listed $155,900 Active
28. 2023-02-02
    historical
29. 2023-02-02
    historical
30. 2022-12-05
    listed $139,900 Active
31. 2022-12-05
    listed $139,900
32. 2020-03-20
    soldstatus $83,345
33. 2019-08-25
    historical
34. 2019-08-25
    historical
35. 2018-08-27
    listed $95,900
36. 2018-08-27
    listed $95,900
37. 1999-05-21
    soldstatus $62,000

ⓘ 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: $3,966 · $330/mo
• Projected year-2 tax: $3,966 · $330/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 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $16,266
• − Mortgage interest: −$6,996
• − Property taxes: −$3,966
• − Insurance: −$624
• − Repairs & maintenance: −$1,301
• − Management: −$1,301
• − Depreciation: −$3,633
• Taxable loss: −$1,556
• Est. tax savings @ 24.0%: +$374
• After-tax cash flow: $774/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): 32,800
• Household income: $54,712
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1305.0

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 58% Black 16% Hispanic / Latino 12% Two or more races 12% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 9% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 6% Chinese 1% Other Indo-European 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: ▼ -211.82%
• Current HPI: 196.8087
• Rent YoY: ▲ 4.71%
• 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

+101.5% since first listed

22 events — show timeline

• 2026-06-06 Price Changed $124,900 REALCOMP
• 2026-06-06 Price Changed $124,900 Greater Lansing AoR
• 2026-04-30 Listed $134,900 Greater Lansing AoR
• 2026-04-30 Listed $134,900 REALCOMP
• 2026-04-29 Listing Removed — REALCOMP
• 2026-04-29 Listing Removed — Greater Lansing AoR
• 2026-04-24 Listing Removed — REALCOMP
• 2026-04-22 Listed $134,900 REALCOMP
• 2025-11-24 Price Changed $145,900 REALCOMP
• 2025-11-24 Price Changed $145,900 Greater Lansing AoR
• 2025-10-30 Listed $155,900 REALCOMP
• 2025-10-30 Listed $155,900 Greater Lansing AoR
• 2023-02-02 Listing Removed — REALCOMP
• 2023-02-02 Listing Removed — Greater Lansing AoR
• 2022-12-05 Listed $139,900 REALCOMP
• 2022-12-05 Listed $139,900 Greater Lansing AoR
• 2020-03-20 Sold (Public Records) $83,345 Public Records
• 2019-08-25 Listing Removed — REALCOMP
• 2019-08-25 Listing Removed — Greater Lansing AoR
• 2018-08-27 Listed $95,900 REALCOMP
• 2018-08-27 Listed $95,900 Greater Lansing AoR
• 1999-05-21 Sold (Public Records) $62,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $3,966 · +3.1% YoY. Source: county tax records.