2593 Mount Hope Rd · Okemos, MI 48864

$219,900

2 bd · 1.5 ba · 1,043 sqft · SingleFamily public records · 77 Days on market

Built 1935 0.93 ac lot $211/sqft · 10% below area Est $244k · 10% under

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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).

• ARV discount +11.9/15.0
• Cash flow +7.3/30.0
• Schools +6.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked away on a beautiful nearly one-acre wooded lot in the desirable Okemos School District, this charming brick home offers privacy and style and is just minutes from everyday conveniences. Set back from the road and surrounded by mature trees, the property provides a peaceful setting while still being close to shopping, dining, and major commuting routes. Inside, the home features 3 bedrooms and 2 full bathrooms, where you can enjoy the therapeutic benefits as you relax in the Japanese soaking tub. This home has a warm mid-century modern feel that blends character with comfort. The updated kitchen offers stylish finishes and functional space for everyday living and entertaining. Smart home features throughout add convenience and efficiency, the geothermal heating system provides for lower energy costs and increased comfort! Large newer windows bring in natural light and connect the interior to the beautiful, wooded surroundings, creating a welcoming and relaxing atmosphere. Unique in all the right ways, with its style, desirable location, and spacious lot, this property offers a rare opportunity to enjoy privacy and character while you make this home your own.

Key facts

• Japanese soaking tub
• Wooded lot
• Updated kitchen

Tags

• WOODED LOT
• OKEMOS SCHOOL DISTRICT
• JAPANESE SOAKING TUB
• UPDATED KITCHEN
• SMART HOME FEATURES
• GEOTHERMAL HEATING SYSTEM

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-290 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (23.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (26.2% below list).
• Recommended offer: $162k (26.2% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.1% in Okemos — 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 85/100 on livability (#32 in MI, #612 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, housing A+; Watch: amenities D+, commute F.
• Okemos Public Schools (suburban): math 60% / reading 76% proficiency, ranked #19 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 100 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent is only 16% of the median local income ($121k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 77 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,198 (26.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 4.71%
• Cash-on-cash: -5.65%
• DSCR: 0.75
• GRM: 11.3

CMA / ARV

• ARV (median comp): $243,588
• List price: $219,900
• Delta: -9.72%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -25.9%
• Equity multiple: 0.12×
• Total profit: $-54,053
• Equity at exit: $32,788

10-year hold

• IRR: -22.5%
• Equity multiple: -0.15×
• Total profit: $-70,630
• Equity at exit: $19,013

Cash invested: $61,572 (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 48864

• Active inventory: 100
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,622 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$327 /mo · $3,920/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-290

Break-even live

Break-even rent $1,989

Max offer price $168,655

Occupancy floor —

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2950 Whitehall Dr Okemos, MI	1.0–2.0	1.0–2.0	837	$1,510	$1.80	13d	1	0.77mi
4394 Okemos Rd Okemos, MI	1.0–2.0	1.0	775	$1,200	$1.55	13d	1	0.80mi
4425 Heritage Ave Okemos, MI	1.0–2.0	1.0–2.0	840	$1,833	$2.18	13d	9	1.19mi
2300 Knob Hill Dr Okemos, MI	3.0	1.5–2.0	1136	$2,126	$1.87	13d	3	1.45mi

Listing history 7 events

1. 2026-05-30
   status $219,900 Pending 77 DOM
2. 2026-04-13
   status Active 1182-char remark

   Show marketing remark (1182 chars)

   Tucked away on a beautiful nearly one-acre wooded lot in the desirable Okemos School District, this charming brick home offers privacy and style and is just minutes from everyday conveniences. Set back from the road and surrounded by mature trees, the property provides a peaceful setting while still being close to shopping, dining, and major commuting routes. Inside, the home features 3 bedrooms and 2 full bathrooms, where you can enjoy the therapeutic benefits as you relax in the Japanese soaking tub. This home has a warm mid-century modern feel that blends character with comfort. The updated kitchen offers stylish finishes and functional space for everyday living and entertaining. Smart home features throughout add convenience and efficiency, the geothermal heating system provides for lower energy costs and increased comfort! Large newer windows bring in natural light and connect the interior to the beautiful, wooded surroundings, creating a welcoming and relaxing atmosphere. Unique in all the right ways, with its style, desirable location, and spacious lot, this property offers a rare opportunity to enjoy privacy and character while you make this home your own.

3. 2026-04-13
   status Active 1182-char remark

   Show marketing remark (1182 chars)

   Tucked away on a beautiful nearly one-acre wooded lot in the desirable Okemos School District, this charming brick home offers privacy and style and is just minutes from everyday conveniences. Set back from the road and surrounded by mature trees, the property provides a peaceful setting while still being close to shopping, dining, and major commuting routes. Inside, the home features 3 bedrooms and 2 full bathrooms, where you can enjoy the therapeutic benefits as you relax in the Japanese soaking tub. This home has a warm mid-century modern feel that blends character with comfort. The updated kitchen offers stylish finishes and functional space for everyday living and entertaining. Smart home features throughout add convenience and efficiency, the geothermal heating system provides for lower energy costs and increased comfort! Large newer windows bring in natural light and connect the interior to the beautiful, wooded surroundings, creating a welcoming and relaxing atmosphere. Unique in all the right ways, with its style, desirable location, and spacious lot, this property offers a rare opportunity to enjoy privacy and character while you make this home your own.

4. 2026-03-23
   historical Active Under Contract 1182-char remark

   Show marketing remark (1182 chars)

   Tucked away on a beautiful nearly one-acre wooded lot in the desirable Okemos School District, this charming brick home offers privacy and style and is just minutes from everyday conveniences. Set back from the road and surrounded by mature trees, the property provides a peaceful setting while still being close to shopping, dining, and major commuting routes. Inside, the home features 3 bedrooms and 2 full bathrooms, where you can enjoy the therapeutic benefits as you relax in the Japanese soaking tub. This home has a warm mid-century modern feel that blends character with comfort. The updated kitchen offers stylish finishes and functional space for everyday living and entertaining. Smart home features throughout add convenience and efficiency, the geothermal heating system provides for lower energy costs and increased comfort! Large newer windows bring in natural light and connect the interior to the beautiful, wooded surroundings, creating a welcoming and relaxing atmosphere. Unique in all the right ways, with its style, desirable location, and spacious lot, this property offers a rare opportunity to enjoy privacy and character while you make this home your own.

5. 2026-03-23
   historical Active Under Contract 1182-char remark

   Show marketing remark (1182 chars)

   Tucked away on a beautiful nearly one-acre wooded lot in the desirable Okemos School District, this charming brick home offers privacy and style and is just minutes from everyday conveniences. Set back from the road and surrounded by mature trees, the property provides a peaceful setting while still being close to shopping, dining, and major commuting routes. Inside, the home features 3 bedrooms and 2 full bathrooms, where you can enjoy the therapeutic benefits as you relax in the Japanese soaking tub. This home has a warm mid-century modern feel that blends character with comfort. The updated kitchen offers stylish finishes and functional space for everyday living and entertaining. Smart home features throughout add convenience and efficiency, the geothermal heating system provides for lower energy costs and increased comfort! Large newer windows bring in natural light and connect the interior to the beautiful, wooded surroundings, creating a welcoming and relaxing atmosphere. Unique in all the right ways, with its style, desirable location, and spacious lot, this property offers a rare opportunity to enjoy privacy and character while you make this home your own.

6. 2026-03-13
   listed $219,900 Active 1182-char remark

   Show marketing remark (1182 chars)

   Tucked away on a beautiful nearly one-acre wooded lot in the desirable Okemos School District, this charming brick home offers privacy and style and is just minutes from everyday conveniences. Set back from the road and surrounded by mature trees, the property provides a peaceful setting while still being close to shopping, dining, and major commuting routes. Inside, the home features 3 bedrooms and 2 full bathrooms, where you can enjoy the therapeutic benefits as you relax in the Japanese soaking tub. This home has a warm mid-century modern feel that blends character with comfort. The updated kitchen offers stylish finishes and functional space for everyday living and entertaining. Smart home features throughout add convenience and efficiency, the geothermal heating system provides for lower energy costs and increased comfort! Large newer windows bring in natural light and connect the interior to the beautiful, wooded surroundings, creating a welcoming and relaxing atmosphere. Unique in all the right ways, with its style, desirable location, and spacious lot, this property offers a rare opportunity to enjoy privacy and character while you make this home your own.

7. 2026-03-13
   listed $219,900 Active 1182-char remark

   Show marketing remark (1182 chars)

   Tucked away on a beautiful nearly one-acre wooded lot in the desirable Okemos School District, this charming brick home offers privacy and style and is just minutes from everyday conveniences. Set back from the road and surrounded by mature trees, the property provides a peaceful setting while still being close to shopping, dining, and major commuting routes. Inside, the home features 3 bedrooms and 2 full bathrooms, where you can enjoy the therapeutic benefits as you relax in the Japanese soaking tub. This home has a warm mid-century modern feel that blends character with comfort. The updated kitchen offers stylish finishes and functional space for everyday living and entertaining. Smart home features throughout add convenience and efficiency, the geothermal heating system provides for lower energy costs and increased comfort! Large newer windows bring in natural light and connect the interior to the beautiful, wooded surroundings, creating a welcoming and relaxing atmosphere. Unique in all the right ways, with its style, desirable location, and spacious lot, this property offers a rare opportunity to enjoy privacy and character while you make this home your own.

ⓘ 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: $3,920 · $327/mo
• Projected year-2 tax: $3,920 · $327/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 2/10 Low
• 🌡 Heat 2/10 Low 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: $19,464
• − Mortgage interest: −$12,318
• − Property taxes: −$3,920
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$6,397
• Taxable loss: −$7,385
• Est. tax savings @ 24.0%: +$1,772
• After-tax cash flow: $-1,709/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: Okemos Public Schools
• NCES district ID: 2626280
• Math proficiency: 60% ▼ -8.00%
• Reading proficiency: 76% ▲ 2.00%
• Median HH income: $73,775
• Composite: 59.92/100
• National rank: #881
• State rank: #19 of 540 in MI

Livability — Okemos

• Score: 85/100
• State rank: #32
• US rank: #612

Category grades

Amenities D+ Commute F Cost of living B+ Crime A Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Okemos, MI
• County: Ingham County · 237,052 people
• City population: 23,901
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 23,901
• Household income: $121,103
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 405.0

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 0.59)
• Race & ethnicity: White 59% Asian 22% Two or more races 9% Hispanic / Latino 6% Black 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Iranian 2% Italian 2%
• Foreign-born: 27% · China, Canada, South Korea
• Languages at home: 68% English-only · Other Indo-European 7% Other Asian/Pacific 7% Chinese 7%

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: ▼ -141.24%
• Current HPI: 193.1213
• 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

+0.0% since first listed

6 events — show timeline

• 2026-04-13 Relisted — REALCOMP
• 2026-04-13 Relisted — Greater Lansing AoR
• 2026-03-23 Contingent — REALCOMP
• 2026-03-23 Contingent — Greater Lansing AoR
• 2026-03-13 Listed $219,900 Greater Lansing AoR
• 2026-03-13 Listed $219,900 REALCOMP

Property tax history

+6.6%/yr

Latest (2025): $3,920 · +2.9% YoY. Source: county tax records.