1807 Shady Oak Ln · Lansing, MI 48906

$149,900

3 bd · 1.5 ba · 1,547 sqft · SingleFamily public records · 7 Days on market

Built 1941 0.28 ac lot $97/sqft · 20% below area Est $187k · 20% under

---

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 +15.4/30.0
• ARV discount +15.0/15.0
• 1% rule +5.5/10.0
• Rent growth +5.0/5.0
• DSCR +4.7/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1941

Property features AI

Exterior

• Parking: Detached garage with garage door opener
• Utilities: Public sewer; Water connected; Sewer connected; Natural gas connected; Electricity connected; Asphalt road surface
• Home design: One level; Built in 1941; Road frontage on a county road; Located in the Green Oak subdivision
• Construction: Wood siding; Block foundation; Shingle roof; Other structures: garage(s)
• Exterior features: Private yard; Front porch; Patio; Front yard fencing; Back yard; Corner lot

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator
• Bedrooms: Primary bedroom (16 x 18); Bedroom 2 (16 x 12); Bedroom 3 (15 x 12)
• Flooring: Ceramic tile; Linoleum; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced-air heating; Central air conditioning
• Interior features: Tile counters; Wood-burning fireplace in the family room (1 total); Full basement with interior entry
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $59 ($707/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).

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 (+10.5%/yr); 138 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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: property tax is 2.7% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,900

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.05% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.68%
• DSCR: 1.07
• GRM: 8.0

CMA / ARV

• ARV (median comp): $186,947
• List price: $149,900
• Delta: -19.82%
• 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
1807 Shady Oak Ln	0.00mi	3/2.0	1,547 (0%)	0mo	$196,000	$127	98
3104 Westwood Ave	0.11mi	3/1.0	1,412 (-9%)	12mo	$158,500	$112	68
2241 Cumberland Rd	0.57mi	3/1.5	1,578 (+2%)	5mo	$225,000	$143	66
2031 Cumberland Rd	0.41mi	2/1.0 (-1)	1,556 (+1%)	9mo	$235,000	$151	66
2916 Wilson Ave	0.73mi	3/2.0	1,566 (+1%)	1mo	$235,000	$150	62
3116 Tecumseh Ave	0.14mi	4/1.5 (+1)	1,392 (-10%)	15mo	$185,000	$133	60
2801 Delta St	0.42mi	3/1.5	1,704 (+10%)	8mo	$225,000	$132	57
2805 Lafayette Ave	0.67mi	3/2.0	1,440 (-7%)	10mo	$155,000	$108	47
2910 Lafayette Ave	0.73mi	4/2.0 (+1)	1,484 (-4%)	14mo	$157,000	$106	41
2531 Dillingham Ave	0.68mi	3/2.0	1,694 (+10%)	12mo	$222,500	$131	40
2509 Delta River Dr	0.57mi	3/1.0	1,346 (-13%)	12mo	$200,222	$149	39
2713 Earl Ln	0.64mi	4/2.0 (+1)	1,768 (+14%)	12mo	$270,000	$153	29

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.71×
• Total profit: $-12,136
• Equity at exit: $22,351

10-year hold

• IRR: 8.1%
• Equity multiple: 1.77×
• Total profit: $32,452
• Equity at exit: $12,961

Cash invested: $41,972 (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 48906

• Rents YoY: 10.5%
• Active inventory: 138
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,569 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$332 /mo · $3,983/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $59

Break-even live

Break-even rent $1,494

Max offer price $149,900

Occupancy floor 91%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1012 Ontario St Lansing, MI	4.0	2.0	1320	$1,600	$1.21	21d	1	1.20mi
16751 Turner Rd Lansing, MI	4.0	2.0	1344	$1,599	$1.19	14d	1	1.37mi

Listing history 5 events

1. 2026-05-06
   status Pending
2. 2026-05-06
   status Pending
3. 2026-04-30
   listed $149,900 Active
4. 2026-04-30
   historical $149,900
5. 2026-04-29
   listed $149,900 Active

ⓘ 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: $3,983 · $332/mo
• Projected year-2 tax: $3,983 · $332/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 ≥97°F today · 15 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: $18,825
• − Mortgage interest: −$8,397
• − Property taxes: −$3,983
• − Insurance: −$750
• − Repairs & maintenance: −$1,506
• − Management: −$1,506
• − Depreciation: −$4,361
• Taxable loss: −$1,676
• Est. tax savings @ 24.0%: +$402
• After-tax cash flow: $1,109/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): 25,901
• Household income: $64,315
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 851.0

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 0.56)
• Race & ethnicity: White 64% Black 15% Two or more races 12% Hispanic / Latino 12% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -135.54%
• Current HPI: 228.7023
• Rent YoY: ▲ 10.50%
• 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

+30.8% since first listed

7 events — show timeline

• 2026-06-10 Sold (MLS) $196,000 REALCOMP
• 2026-06-10 Sold (MLS) $196,000 Greater Lansing AoR
• 2026-05-06 Pending — REALCOMP
• 2026-05-06 Pending — Greater Lansing AoR
• 2026-04-30 Listed $149,900 Greater Lansing AoR
• 2026-04-30 Coming Soon $149,900 Greater Lansing AoR
• 2026-04-29 Listed $149,900 REALCOMP

Property tax history

+3.8%/yr

Latest (2025): $3,983 · +3.1% YoY. Source: county tax records.