6741 Helman Blvd Lot 203 · Lansing, MI 48911

$50,000

3 bd · 2.0 ba · 1,120 sqft · Manufactured · 87 Days on market

Built 2015 Fair condition $45/sqft · 92% above area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.2/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for 3 beds and 2 baths in Lansing? Look no further! Located in the Mill Pond community, this manufactured home offers the space you need with the amenities you want. This home is located in a mobile home park, Mill Pond, FR Communities, Lansing MI 48911. The purchase of this home is subject to the park's approval of the buyer. Contact the office for application and bylaws/rules 517-694-8680 Lot rent is approx. $586All sq footage to be confirmed by new buyer and buyers agent.

Key facts

• Built 2015
• Listed 87 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $50k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $656 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.0% 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; 11 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 $346 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 + 8.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($47k) 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.

Recommended offer $47,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.54% ✓
• Cap rate: 22.03%
• Cash-on-cash: 56.21%
• DSCR: 3.50
• GRM: 3.3

CMA / ARV

• ARV (median comp): $26,026
• List price: $50,000
• Delta: 92.12%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 60.2%
• Equity multiple: 3.88×
• Total profit: $40,383
• Equity at exit: $7,455

10-year hold

• IRR: 66.6%
• Equity multiple: 9.54×
• Total profit: $119,512
• Equity at exit: $4,323

Cash invested: $14,000 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,268 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $656

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 43%

Sensitivity live

Price	-10% $690	-5% $673	+0% $656	+5% $639	+10% $621
Rent	-10% $556	-5% $606	+0% $656	+5% $706	+10% $756
Rate	-1.0pp $681	-0.5pp $669	base $656	+0.5pp $643	+1.0pp $630

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 Long Blvd Lansing, MI	1.0–3.0	1.0–1.5	1013	$1,495	$1.48	14d	21	0.65mi
6129 Beechfield Dr Lansing, MI	1.0–2.0	1.0	894	$1,100	$1.23	14d	1	0.65mi
2294 Main St Holt, MI	2.0	1.0	869	$999	$1.15	14d	1	0.73mi
4612 Tolland Ave Unit 4612 Holt, MI	2.0	1.0	927	$1,325	$1.43	14d	1	0.74mi
5031 W Willoughby Rd Unit 5031 Holt, MI	2.0	1.0	1200	$1,550	$1.29	14d	1	0.82mi
4330 Keller Rd Holt, MI	1.0–2.0	1.0	462	$1,150	$2.49	14d	1	0.95mi
315 E Edgewood Blvd Lansing, MI	2.0	1.0	615	$1,245	$2.02	14d	14	1.18mi
814 Louisa St Lansing, MI	2.0	1.0	850	$950	$1.12	14d	2	1.25mi
5521 Joshua St Unit ST-102 Lansing, MI	2.0	1.0	812	$975	$1.20	44d	1	1.37mi
2030 N Cedar St Holt, MI	1.0–2.0	1.0–2.0	930	$1,679	$1.81	14d	6	1.39mi
5540 Kaynorth Rd Unit 4 Lansing, MI	2.0	1.0	745	$925	$1.24	44d	1	1.50mi

Listing history 19 events

1. 2026-06-18
   days on market $50,000 Active 87 DOM
2. 2026-06-17
   days on market $50,000 Active 86 DOM
3. 2026-06-16
   days on market $50,000 Active 85 DOM
4. 2026-06-15
   days on market $50,000 Active 84 DOM
5. 2026-06-14
   days on market $50,000 Active 82 DOM
6. 2026-06-13
   days on market $50,000 Active 81 DOM
7. 2026-06-10
   days on market $50,000 Active 79 DOM
8. 2026-06-09
   days on market $50,000 Active 78 DOM
9. 2026-06-08
   days on market $50,000 Active 77 DOM
10. 2026-06-07
    days on market $50,000 Active 76 DOM
11. 2026-06-05
    days on market $50,000 Active 73 DOM
12. 2026-06-03
    days on market $50,000 Active 72 DOM
13. 2026-06-02
    days on market $50,000 Active 71 DOM
14. 2026-06-01
    days on market $50,000 Active 70 DOM
15. 2026-05-31
    days on market $50,000 Active 69 DOM
16. 2026-05-30
    days on market $50,000 Active 68 DOM
17. 2026-03-23
    listed $50,000 Active 488-char remark

    Show marketing remark (493 chars)

    Looking for 3 beds and 2 baths in Lansing? Look no further! Located in the Mill Pond community, this manufactured home offers the space you need with the amenities you want. This home is located in a mobile home park, Mill Pond, FR Communities, Lansing MI 48911. The purchase of this home is subject to the park's approval of the buyer. Contact the office for application and bylaws/rules 517-694-8680 Lot rent is approx. $586 All sq footage to be confirmed by new buyer and buyers agent.

18. 2026-03-23
    listed $50,000 Active 493-char remark

    Show marketing remark (493 chars)

    Looking for 3 beds and 2 baths in Lansing? Look no further! Located in the Mill Pond community, this manufactured home offers the space you need with the amenities you want. This home is located in a mobile home park, Mill Pond, FR Communities, Lansing MI 48911. The purchase of this home is subject to the park's approval of the buyer. Contact the office for application and bylaws/rules 517-694-8680 Lot rent is approx. $586 All sq footage to be confirmed by new buyer and buyers agent.

19. 2026-03-23
    listed $50,000 Active

    Show marketing remark (493 chars)

    Looking for 3 beds and 2 baths in Lansing? Look no further! Located in the Mill Pond community, this manufactured home offers the space you need with the amenities you want. This home is located in a mobile home park, Mill Pond, FR Communities, Lansing MI 48911. The purchase of this home is subject to the park's approval of the buyer. Contact the office for application and bylaws/rules 517-694-8680 Lot rent is approx. $586 All sq footage to be confirmed by new buyer and buyers agent.

ⓘ 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 3/10 Moderate 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: $15,210
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,217
• − Management: −$1,217
• − Depreciation: −$1,455
• Taxable income: $7,521
• Est. tax owed @ 24.0%: −$1,805
• After-tax cash flow: $6,064/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs to the exterior siding and HVAC unit, but is otherwise in fair condition. Painting the exterior and replacing the air conditioning unit would significantly increase its value.

Repairs flagged

• Moderate Exterior siding — Siding appears to have some wear
• Minor HVAC unit — No visible damage

Value-add opportunities

• Both Paint exterior siding — Improves curb appeal and value
• Both Replace air conditioning unit — Ensures comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Siding appears to have some wear	Moderate	$3,000–15,000
HVAC unit · No visible damage	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Paint exterior siding — Improves curb appeal and value ↑
• Both Replace air conditioning unit — Ensures comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+0.0% since first listed

3 events — show timeline

• 2026-03-23 Listed $50,000 REALCOMP
• 2026-03-23 Listed $50,000 MiRealSource-MiMLS
• 2026-03-23 Listed $50,000 SW Michigan MLS