1133 Chelsea Ave · Lansing, MI 48915

$112,000

2 bd · 1.0 ba · 819 sqft · SingleFamily public records · 15 Days on market

Built 1905 3,484 sqft lot

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Why this score? — see what drove the D 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 +16.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.6/10.0
• 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

* Accepting Back-ups * Move-in ready and packed with updates, this charming Lansing home offers an incredible opportunity to own for less than rent! Conveniently located just minutes from the Capitol, Lansing Community College, downtown Lansing, shopping, dining, and more. Tucked directly behind Riddle Elementary School, enjoy easy access to the playground and basketball courts right from your backyard area. Inside, you'll find refinished hardwood floors, new carpet on the stairs, LVP flooring upstairs, fresh paint throughout, updated countertops, and brand-new Whirlpool appliances. The new rear concrete patio is perfect for summer grilling and entertaining. Washer, dryer, and additional basement storage space are included for added convenience!

Key facts

• Fresh paint
• New carpet
• Updated countertops

Tags

• MOVE IN READY
• REFINISHED HARDWOOD FLOORS
• NEW CARPET
• LVP FLOORING
• FRESH PAINT
• UPDATED COUNTERTOPS

Property features AI

Finance

• Financial info: Currently used as rental / investment
• HOA & community: Subdivision: Kempfs

Exterior

• Parking: Driveway; On-street parking
• Utilities: Public sewer; Water connected; Sewer connected; Electricity connected
• Home design: A-Frame style; Two levels; Updated/remodeled; Built in 1905; Front of house faces south
• Construction: Vinyl siding; Block foundation; Not new construction
• Exterior features: Back yard; Corner lot; Deck; Front porch; Patio; Playground nearby

Interior

• Kitchen: Gas oven; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (Primary bedroom on upper level)
• Flooring: Carpet; Tile; Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (forced air); Central air conditioning
• Interior features: Laminate counters; Natural woodwork; Storage; Partially finished basement; Sump pump
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $66 ($795/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (4.2% below list).
• Recommended offer: $107k (4.2% below list) — sets the bar for 1% rule.

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: Riddle Elementary (144 students, 92% FRL) — zoned schools average 92% FRL vs 68% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 68 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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 $774 of loan paydown is wiped out by about $3k 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 15 days — a 2% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $10k; list at $112k implies a 1031% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,258 (4.2% below list)

Questions for the listing agent

1. Built in 1905 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.96% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.54%
• DSCR: 1.11
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $73,710
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1306 W Lenawee St	0.24mi	2/1.0	832 (+2%)	3mo	$102,500	$123	84
1200 W Lenawee St	0.20mi	2/1.0	826 (+1%)	11mo	$82,900	$100	80
1406 W Ottawa St W	0.26mi	2/1.0	819 (0%)	12mo	$70,000	$85	78
1314 W Ionia St	0.31mi	2/1.0	833 (+2%)	10mo	$35,000	$42	74
1410 W Ionia St	0.32mi	2/1.0	819 (0%)	14mo	$79,000	$96	74
109 Lahoma St	0.17mi	2/1.0	900 (+10%)	10mo	$20,000	$22	67
904 Riverview Ave	0.60mi	3/1.0 (+1)	836 (+2%)	15mo	$55,000	$66	51
516 W Ionia St	0.56mi	2/1.0	936 (+14%)	2mo	$77,500	$83	49
751 Westmoreland Ave	0.75mi	2/1.0	757 (-8%)	6mo	$45,000	$59	47
1615 William St	0.61mi	3/1.0 (+1)	918 (+12%)	4mo	$83,000	$90	43
815 Riverview Ave	0.54mi	2/1.0	926 (+13%)	14mo	$135,000	$146	42
1017 W Oakland Ave	0.74mi	2/2.0	931 (+14%)	8mo	$87,000	$93	32

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: -12.3%
• Equity multiple: 0.56×
• Total profit: $-13,909
• Equity at exit: $16,700

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-6,595
• Equity at exit: $9,684

Cash invested: $31,360 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,073 high
• Mortgage (P&I): −$587
• Tax from tax record: −$147 /mo · $1,765/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $66

Break-even live

Break-even rent $989

Max offer price $112,000

Occupancy floor 89%

Sensitivity live

Price	-10% $130	-5% $98	+0% $66	+5% $35	+10% $3
Rent	-10% $-18	-5% $24	+0% $66	+5% $109	+10% $151
Rate	-1.0pp $123	-0.5pp $95	base $66	+0.5pp $37	+1.0pp $8

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1109 W Washtenaw St Unit 5 Lansing, MI	2.0	1.0	755	$795	$1.05	46d	1	0.09mi
1330 W Hillsdale St Lansing, MI	3.0	1.0	1008	$1,550	$1.54	46d	1	0.34mi
927 W Shiawassee St Unit 10 Lansing, MI	1.0	1.0	700	$845	$1.21	46d	1	0.38mi
314 N Sycamore St Unit 1 Lansing, MI	1.0	1.0	800	$1,450	$1.81	46d	1	0.50mi
420 S Walnut St Lansing, MI	1.0	1.0	525	$875	$1.67	46d	1	0.60mi
515 S Chestnut St Lansing, MI	1.0	1.0	646	$942	$1.46	16d	8	0.61mi
307 N Walnut St Unit 307 Lansing, MI	1.0	1.0	550	$1,100	$2.00	46d	1	0.67mi
610 N Sycamore St Unit 1 Lansing, MI	1.0	1.0	900	$875	$0.97	16d	1	0.70mi
712 N Sycamore St Lansing, MI	3.0	1.0	1100	$1,650	$1.50	23d	1	0.76mi
504 W Lapeer St Apt A Lansing, MI	2.0	1.0	600	$895	$1.49	46d	1	0.77mi
731 N Sycamore St Unit 1 Lansing, MI	2.0	1.0	950	$945	$0.99	46d	1	0.77mi
427 Seymour Ave Unit 102 Lansing, MI	1.0	1.0	540	$850	$1.57	23d	1	0.80mi
427 Seymour Ave Unit 205 Lansing, MI	1.0	1.0	570	$1,100	$1.93	46d	1	0.80mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	23d	1	0.80mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	46d	1	0.80mi
410 W Lapeer St Unit 1 Lansing, MI	2.0	1.0	800	$1,050	$1.31	23d	1	0.81mi
524 N Walnut St Lansing, MI	2.0	1.0	1000	$1,150	$1.15	46d	1	0.81mi
122 Hathaway St Lansing, MI	2.0	1.0	768	$1,250	$1.63	46d	1	0.85mi
919 Princeton Ave Lansing, MI	3.0	1.5	1119	$1,475	$1.32	23d	1	0.86mi
323 W Saginaw St Unit 1 Lansing, MI	1.0	1.0	1000	$1,000	$1.00	46d	1	0.87mi
401 S Washington Sq Unit 212 Lansing, MI	1.0	1.0	827	$1,330	$1.61	46d	1	0.89mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	46d	1	0.89mi
316 W Saginaw St Unit 318 Lansing, MI	1.0	1.0	750	$950	$1.27	46d	1	0.90mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	23d	3	0.97mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	46d	9	0.97mi
826 N Walnut St Lansing, MI	1.0	1.0	700	$700	$1.00	46d	2	1.00mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	16d	1	1.00mi
1010 N Pine St Unit B Lansing, MI	2.0	1.0	750	$1,100	$1.47	46d	1	1.03mi
801 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	550	$950	$1.73	46d	1	1.04mi
801 N Capitol Ave Unit 4 Lansing, MI	1.0	1.0	600	$1,000	$1.67	46d	1	1.04mi
509 Cherry St Unit 2 Lansing, MI	1.0	1.0	550	$975	$1.77	23d	1	1.06mi
313 E Saint Joseph St Lansing, MI	2.0	1.0	475	$1,150	$2.42	16d	7	1.11mi
400 N Catherine St Lansing, MI	3.0	1.0	760	$1,395	$1.84	16d	1	1.12mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	46d	1	1.14mi
1016 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	700	$850	$1.21	46d	1	1.22mi
1216 N Chestnut St Lansing, MI	1.0	1.0	562	$900	$1.60	16d	1	1.24mi
1025 N Washington Ave Unit 9 Lansing, MI	1.0	1.0	670	$1,000	$1.49	46d	1	1.26mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	16d	9	1.29mi
1443 Roselawn Ave Lansing, MI	2.0	1.0	656	$750	$1.14	46d	1	1.34mi
3322 W Michigan Ave Unit 3 Lansing, MI	1.0	1.0	600	$850	$1.42	46d	1	1.34mi

Listing history 11 events

1. 2026-06-07
   statusdays on market $112,000 Pending 15 DOM
2. 2026-06-05
   days on market $112,000 Active Under Contract 14 DOM

   Show marketing remark (756 chars)

   * Accepting Back-ups * Move-in ready and packed with updates, this charming Lansing home offers an incredible opportunity to own for less than rent! Conveniently located just minutes from the Capitol, Lansing Community College, downtown Lansing, shopping, dining, and more. Tucked directly behind Riddle Elementary School, enjoy easy access to the playground and basketball courts right from your backyard area. Inside, you'll find refinished hardwood floors, new carpet on the stairs, LVP flooring upstairs, fresh paint throughout, updated countertops, and brand-new Whirlpool appliances. The new rear concrete patio is perfect for summer grilling and entertaining. Washer, dryer, and additional basement storage space are included for added convenience!

3. 2026-06-03
   days on market $112,000 Active Under Contract 13 DOM
4. 2026-06-02
   days on market $112,000 Active Under Contract 12 DOM
5. 2026-06-01
   days on market $112,000 Active Under Contract 11 DOM
6. 2026-05-31
   days on market $112,000 Active Under Contract 10 DOM
7. 2026-05-30
   days on market $112,000 Active Under Contract 9 DOM
8. 2026-05-21
   listed $112,000 Active

   Show marketing remark (756 chars)

   * Accepting Back-ups * Move-in ready and packed with updates, this charming Lansing home offers an incredible opportunity to own for less than rent! Conveniently located just minutes from the Capitol, Lansing Community College, downtown Lansing, shopping, dining, and more. Tucked directly behind Riddle Elementary School, enjoy easy access to the playground and basketball courts right from your backyard area. Inside, you'll find refinished hardwood floors, new carpet on the stairs, LVP flooring upstairs, fresh paint throughout, updated countertops, and brand-new Whirlpool appliances. The new rear concrete patio is perfect for summer grilling and entertaining. Washer, dryer, and additional basement storage space are included for added convenience!

9. 2026-05-21
   listed $112,000 Active 789-char remark

   Show marketing remark (756 chars)

   * Accepting Back-ups * Move-in ready and packed with updates, this charming Lansing home offers an incredible opportunity to own for less than rent! Conveniently located just minutes from the Capitol, Lansing Community College, downtown Lansing, shopping, dining, and more. Tucked directly behind Riddle Elementary School, enjoy easy access to the playground and basketball courts right from your backyard area. Inside, you'll find refinished hardwood floors, new carpet on the stairs, LVP flooring upstairs, fresh paint throughout, updated countertops, and brand-new Whirlpool appliances. The new rear concrete patio is perfect for summer grilling and entertaining. Washer, dryer, and additional basement storage space are included for added convenience!

10. 2010-01-08
    soldstatus $9,900
11. 2009-11-09
    listed $9,900

ⓘ 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: $1,765 · $147/mo
• Projected year-2 tax: $1,765 · $147/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 · 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: $12,871
• − Mortgage interest: −$6,274
• − Property taxes: −$1,765
• − Insurance: −$560
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$3,258
• Taxable loss: −$1,045
• Est. tax savings @ 24.0%: +$251
• After-tax cash flow: $1,046/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

+1031.3% since first listed

8 events — show timeline

• 2026-06-05 Pending — REALCOMP
• 2026-06-05 Pending — Greater Lansing AoR
• 2026-05-24 Contingent — REALCOMP
• 2026-05-24 Contingent — Greater Lansing AoR
• 2026-05-21 Listed $112,000 Greater Lansing AoR
• 2026-05-21 Listed $112,000 REALCOMP
• 2010-01-08 Sold (MLS) $9,900 Greater Lansing AoR
• 2009-11-09 Listed $9,900 Greater Lansing AoR

Property tax history

+3.1%/yr

Latest (2025): $1,765 · +2.9% YoY. Source: county tax records.