1801 S Washington Ave · Lansing, MI 48910

$74,900

3 bd · 1.0 ba · 932 sqft · SingleFamily public records · 34 Days on market

Built 1906 6,970 sqft lot Est $134k · 44% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Investment Opportunity: 3 bed 1 bath fixer upper in city of lansing. House is on a spacious corner lot and has plenty of potential with the wood floors and trim throughout.

Key facts

• Wood trim
• Wood floors
• Spacious corner lot

Tags

• SPACIOUS CORNER LOT
• WOOD FLOORS
• WOOD TRIM

Property features AI

Exterior

• Utilities: Natural gas available and connected; Electricity available
• Home design: Traditional single-family residence; Residential property
• Construction: Built in 1906; Vinyl siding; Composition roof; Approximately 1,160 living area
• Exterior features: Public water; 0.16-acre lot

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Heating available
• Interior features: Six total rooms; Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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 (+4.7%/yr); 175 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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 $518 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 + 4.7% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.72% ✓
• Cap rate: 14.17%
• Cash-on-cash: 28.14%
• DSCR: 2.25
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $134,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 Woodrow Ave	0.37mi	2/1.0 (-1)	912 (-2%)	5mo	$104,500	$115	70
1824 S Rundle Ave	0.58mi	3/1.0	915 (-2%)	1mo	$176,000	$192	70
1723 Osband Ave	0.39mi	3/1.5	882 (-5%)	4mo	$145,000	$164	67
841 Baker St	0.63mi	3/1.0	960 (+3%)	1mo	$57,000	$59	65
2305 Forest Ave	0.42mi	2/1.0 (-1)	888 (-5%)	4mo	$142,200	$160	64
2104 S Rundle Ave	0.63mi	3/2.0	939 (+1%)	2mo	$135,500	$144	64
1718 Donora St	0.62mi	3/1.0	900 (-3%)	4mo	$39,900	$44	62
555 Tisdale Ave	0.59mi	2/1.0 (-1)	879 (-6%)	2mo	$166,500	$189	56
707 Isbell St	0.49mi	3/1.0	1,054 (+13%)	5mo	$30,000	$28	51
619 E Mount Hope Ave	0.48mi	3/2.0	1,040 (+12%)	5mo	$75,000	$72	50
1703 Linval St	0.42mi	2/2.5 (-1)	814 (-13%)	5mo	$117,000	$144	44
613 Tisdale Ave	0.64mi	2/1.0 (-1)	800 (-14%)	1mo	$107,250	$134	41

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: 24.3%
• Equity multiple: 2.02×
• Total profit: $21,469
• Equity at exit: $11,168

10-year hold

• IRR: 33.2%
• Equity multiple: 4.28×
• Total profit: $68,722
• Equity at exit: $6,476

Cash invested: $20,972 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,290 high
• Mortgage (P&I): −$393
• Tax from tax record: −$103 /mo · $1,238/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $492

Break-even live

Break-even rent $667

Max offer price $74,900

Occupancy floor 57%

Sensitivity live

Price	-10% $534	-5% $513	+0% $492	+5% $471	+10% $449
Rent	-10% $390	-5% $441	+0% $492	+5% $543	+10% $594
Rate	-1.0pp $530	-0.5pp $511	base $492	+0.5pp $472	+1.0pp $453

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1828 Davis Ave Lansing, MI	2.0	1.0	700	$1,150	$1.64	45d	1	0.28mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	15d	1	0.67mi
1913 Stirling Ave Unit 1 Lansing, MI	2.0	2.0	1100	$1,200	$1.09	45d	1	0.69mi
401 E Willard Ave Unit 19 Lansing, MI	2.0	1.0	775	$1,000	$1.29	45d	1	0.71mi
430 Dunlap St Lansing, MI	2.0	1.0	940	$1,450	$1.54	22d	1	0.86mi
313 E Saint Joseph St Lansing, MI	2.0	1.0	475	$1,150	$2.42	15d	7	0.88mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	45d	1	0.89mi
3031 S Washington Ave Lansing, MI	1.0–2.0	1.0	725	$1,100	$1.52	45d	1	0.95mi
1016 E Greenlawn Ave Unit 3 Lansing, MI	2.0	1.0	750	$925	$1.23	15d	1	0.98mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	45d	1	1.08mi
915 Loa St Lansing, MI	2.0	1.0	674	$999	$1.48	45d	1	1.11mi
1100 Malcolm X St Unit B Lansing, MI	2.0	1.0	979	$1,050	$1.07	15d	1	1.12mi
1223 Bensch St Lansing, MI	3.0	1.0	850	$1,200	$1.41	22d	1	1.12mi
805 Bement St Unit Hosmer 507 Lansing, MI	2.0	1.0	1120	$1,075	$0.96	45d	1	1.14mi
507 S Hosmer St Lansing, MI	2.0	1.0	1120	$1,075	$0.96	45d	1	1.15mi
3515 Bergman Ave Lansing, MI	2.0	1.0	640	$1,195	$1.87	22d	1	1.25mi
3518 Davidson Dr Lansing, MI	2.0	2.0	850	$1,115	$1.31	45d	3	1.26mi
1815 Potomac Cir Lansing, MI	2.0	1.0	1002	$1,200	$1.20	15d	1	1.27mi
910 Dakin St Lansing, MI	3.0	1.0	908	$1,295	$1.43	45d	1	1.31mi
1330 W Hillsdale St Lansing, MI	3.0	1.0	1008	$1,550	$1.54	45d	1	1.39mi
1109 W Washtenaw St Unit 5 Lansing, MI	2.0	1.0	755	$795	$1.05	45d	1	1.43mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	15d	9	1.45mi
208 S Bingham St Lansing, MI	4.0	1.0	1020	$1,500	$1.47	15d	1	1.46mi
3716 Homewood Ave Lansing, MI	2.0	1.0	692	$1,300	$1.88	22d	1	1.49mi

Listing history 20 events

1. 2026-06-21
   days on market $74,900 Active 34 DOM
2. 2026-06-18
   days on market $74,900 Active 31 DOM
3. 2026-06-17
   days on market $74,900 Active 30 DOM
4. 2026-06-16
   days on market $74,900 Active 29 DOM
5. 2026-06-15
   days on market $74,900 Active 28 DOM
6. 2026-06-14
   days on market $74,900 Active 26 DOM
7. 2026-06-13
   days on market $74,900 Active 25 DOM
8. 2026-06-10
   days on market $74,900 Active 23 DOM
9. 2026-06-09
   days on market $74,900 Active 22 DOM
10. 2026-06-08
    days on market $74,900 Active 21 DOM
11. 2026-06-07
    days on market $74,900 Active 20 DOM
12. 2026-06-05
    days on market $74,900 Active 17 DOM
13. 2026-06-03
    days on market $74,900 Active 16 DOM
14. 2026-06-02
    days on market $74,900 Active 15 DOM
15. 2026-06-01
    days on market $74,900 Active 14 DOM
16. 2026-05-31
    days on market $74,900 Active 13 DOM
17. 2026-05-30
    days on market $74,900 Active 12 DOM
18. 2026-05-15
    listed $79,900 Active

    Show marketing remark (172 chars)

    Investment Opportunity: 3 bed 1 bath fixer upper in city of lansing. House is on a spacious corner lot and has plenty of potential with the wood floors and trim throughout.

19. 2026-05-15
    listed $79,900 Active 172-char remark

    Show marketing remark (172 chars)

    Investment Opportunity: 3 bed 1 bath fixer upper in city of lansing. House is on a spacious corner lot and has plenty of potential with the wood floors and trim throughout.

20. 2026-05-15
    listed $79,900 Active 172-char remark

    Show marketing remark (172 chars)

    Investment Opportunity: 3 bed 1 bath fixer upper in city of lansing. House is on a spacious corner lot and has plenty of potential with the wood floors and trim throughout.

ⓘ 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: $1,238 · $103/mo
• Projected year-2 tax: $1,238 · $103/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,478
• − Mortgage interest: −$4,196
• − Property taxes: −$1,238
• − Insurance: −$374
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$2,179
• Taxable income: $5,015
• Est. tax owed @ 24.0%: −$1,203
• After-tax cash flow: $4,698/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

+0.0% since first listed

3 events — show timeline

• 2026-05-15 Listed $79,900 MiRealSource-MiMLS
• 2026-05-15 Listed $79,900 REALCOMP
• 2026-05-15 Listed $79,900 SW Michigan MLS

Property tax history

+5.1%/yr

Latest (2025): $1,238 · +2.8% YoY. Source: county tax records.