111 E Potter Ave · Lansing, MI 48910

$109,900

4 bd · 1.0 ba · 1,274 sqft · SingleFamily public records · 168 Days on market

Built 1944 0.35 ac lot Est $161k · 32% 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

Welcome home to this 1944 ranch with cottage charm throughout. Home affords a cozy feel and spacious floor plan. 4 bdrms & a front den/office are featured bonuses. The large galley kitchen features tall ceilings , abundant storage, and ample counter space . There's a rear living room with natural light and a slider to the rear patio leading to the large fenced backyard . A one-car attached garage is perfect for all your storage needs. This budget-sensitive, value-packed offering is surely worth the tour. Whether an investor 1st time buyer or looking to downsize - This home is a fantastic opportunity. Let's tour!

Key facts

• Front den
• Galley kitchen
• Rear living room

Tags

• GALLEY KITCHEN
• REAR LIVING ROOM
• FENCED BACKYARD
• FRONT DEN

Property features AI

Finance

• Financial info: Property currently used as an investment

Exterior

• Parking: Attached garage with inside entrance; Driveway; Garage faces front; Additional storage in garage
• Utilities: Public sewer
• Home design: Single-story home (one level); Built in 1944; Designed for entry at kitchen level
• Construction: Hardboard exterior; Slab foundation
• Exterior features: Private yard and garden; Covered front porch and patio; Rain gutters; Yard storage; Wood fence in back yard; Level, rectangular city lot with few trees and native plants; Near public transit; City street frontage; Shingle roof

Interior

• Kitchen: Galley-style kitchen with tall ceilings and abundant cabinets; Eat-in/dining combo
• Bedrooms: Primary bedroom with large closet, built-ins and private entrance; Bedroom 2 with hardwood flooring; Bedroom 3 with vinyl flooring; Bedroom 4 with vinyl flooring
• Flooring: Carpet; Linoleum; Vinyl; Hardwood (in some rooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Built-in features and pantry; Ceiling fan(s); Eat-in kitchen; High ceilings; Natural woodwork; Storage
• Laundry & utility: Laundry located in garage and in kitchen

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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); 177 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 39% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 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.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 168 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 168 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
7. 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?
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: 1.60% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.78%
• DSCR: 1.79
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $160,524
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 E Potter Ave	0.00mi	4/1.0	1,274 (0%)	1mo	$105,000	$82	99
220 E Potter Ave	0.13mi	3/1.5 (-1)	1,248 (-2%)	5mo	$155,000	$124	80
221 W Everettdale Ave	0.09mi	3/2.0 (-1)	1,203 (-6%)	3mo	$113,920	$95	75
937 Reo Rd	0.64mi	3/2.0 (-1)	1,245 (-2%)	4mo	$175,000	$141	54
639 Maplehill Ave	0.60mi	3/1.0 (-1)	1,337 (+5%)	7mo	$164,900	$123	53
5267 Crocus Ave	0.60mi	3/1.5 (-1)	1,352 (+6%)	3mo	$215,000	$159	52
3820 Lowcroft Ave	0.60mi	4/2.0	1,170 (-8%)	4mo	$179,000	$153	51
3815 Walton Dr	0.69mi	3/1.5 (-1)	1,342 (+5%)	2mo	$111,000	$83	50
501 Bluebell Dr	0.61mi	3/2.0 (-1)	1,325 (+4%)	7mo	$196,000	$148	50
4907 Burchfield Ave	0.53mi	3/1.5 (-1)	1,437 (+13%)	3mo	$140,000	$97	44
4926 Burchfield Ave	0.57mi	3/1.0 (-1)	1,452 (+14%)	3mo	$183,000	$126	43
125 E Northrup St	0.74mi	3/1.5 (-1)	1,426 (+12%)	2mo	$209,900	$147	37

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: 11.6%
• Equity multiple: 1.47×
• Total profit: $14,439
• Equity at exit: $16,386

10-year hold

• IRR: 22.1%
• Equity multiple: 3.07×
• Total profit: $63,578
• Equity at exit: $9,502

Cash invested: $30,772 (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: 177
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,758 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$311 /mo · $3,729/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $456

Break-even live

Break-even rent $1,181

Max offer price $109,900

Occupancy floor 69%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2528 Forest Ave Lansing, MI	4.0	1.0	1175	$1,699	$1.45	43d	1	1.20mi

Listing history 20 events

1. 2026-04-29
   status Pending 626-char remark

   Show marketing remark (626 chars)

   Welcome home to this 1944 ranch with cottage charm throughout. Home affords a cozy feel and spacious floor plan. 4 bdrms & a front den/office are featured bonuses. The large galley kitchen features tall ceilings , abundant storage, and ample counter space . There's a rear living room with natural light and a slider to the rear patio leading to the large fenced backyard . A one-car attached garage is perfect for all your storage needs. This budget-sensitive, value-packed offering is surely worth the tour. Whether an investor 1st time buyer or looking to downsize - This home is a fantastic opportunity. Let's tour!

2. 2026-04-29
   status Pending

   Show marketing remark (626 chars)

   Welcome home to this 1944 ranch with cottage charm throughout. Home affords a cozy feel and spacious floor plan. 4 bdrms & a front den/office are featured bonuses. The large galley kitchen features tall ceilings , abundant storage, and ample counter space . There's a rear living room with natural light and a slider to the rear patio leading to the large fenced backyard . A one-car attached garage is perfect for all your storage needs. This budget-sensitive, value-packed offering is surely worth the tour. Whether an investor 1st time buyer or looking to downsize - This home is a fantastic opportunity. Let's tour!

3. 2026-02-11
   price $109,900 626-char remark

   Show marketing remark (626 chars)

   Welcome home to this 1944 ranch with cottage charm throughout. Home affords a cozy feel and spacious floor plan. 4 bdrms & a front den/office are featured bonuses. The large galley kitchen features tall ceilings , abundant storage, and ample counter space . There's a rear living room with natural light and a slider to the rear patio leading to the large fenced backyard . A one-car attached garage is perfect for all your storage needs. This budget-sensitive, value-packed offering is surely worth the tour. Whether an investor 1st time buyer or looking to downsize - This home is a fantastic opportunity. Let's tour!

4. 2026-02-11
   price $109,900

   Show marketing remark (626 chars)

   Welcome home to this 1944 ranch with cottage charm throughout. Home affords a cozy feel and spacious floor plan. 4 bdrms & a front den/office are featured bonuses. The large galley kitchen features tall ceilings , abundant storage, and ample counter space . There's a rear living room with natural light and a slider to the rear patio leading to the large fenced backyard . A one-car attached garage is perfect for all your storage needs. This budget-sensitive, value-packed offering is surely worth the tour. Whether an investor 1st time buyer or looking to downsize - This home is a fantastic opportunity. Let's tour!

5. 2026-01-08
   price $115,000 626-char remark

   Show marketing remark (626 chars)

   Welcome home to this 1944 ranch with cottage charm throughout. Home affords a cozy feel and spacious floor plan. 4 bdrms & a front den/office are featured bonuses. The large galley kitchen features tall ceilings , abundant storage, and ample counter space . There's a rear living room with natural light and a slider to the rear patio leading to the large fenced backyard . A one-car attached garage is perfect for all your storage needs. This budget-sensitive, value-packed offering is surely worth the tour. Whether an investor 1st time buyer or looking to downsize - This home is a fantastic opportunity. Let's tour!

6. 2026-01-08
   price $115,000

   Show marketing remark (626 chars)

   Welcome home to this 1944 ranch with cottage charm throughout. Home affords a cozy feel and spacious floor plan. 4 bdrms & a front den/office are featured bonuses. The large galley kitchen features tall ceilings , abundant storage, and ample counter space . There's a rear living room with natural light and a slider to the rear patio leading to the large fenced backyard . A one-car attached garage is perfect for all your storage needs. This budget-sensitive, value-packed offering is surely worth the tour. Whether an investor 1st time buyer or looking to downsize - This home is a fantastic opportunity. Let's tour!

7. 2026-01-04
   status Active 626-char remark

   Show marketing remark (626 chars)

   Welcome home to this 1944 ranch with cottage charm throughout. Home affords a cozy feel and spacious floor plan. 4 bdrms & a front den/office are featured bonuses. The large galley kitchen features tall ceilings , abundant storage, and ample counter space . There's a rear living room with natural light and a slider to the rear patio leading to the large fenced backyard . A one-car attached garage is perfect for all your storage needs. This budget-sensitive, value-packed offering is surely worth the tour. Whether an investor 1st time buyer or looking to downsize - This home is a fantastic opportunity. Let's tour!

8. 2026-01-03
   historical 626-char remark

   Show marketing remark (626 chars)

   Welcome home to this 1944 ranch with cottage charm throughout. Home affords a cozy feel and spacious floor plan. 4 bdrms & a front den/office are featured bonuses. The large galley kitchen features tall ceilings , abundant storage, and ample counter space . There's a rear living room with natural light and a slider to the rear patio leading to the large fenced backyard . A one-car attached garage is perfect for all your storage needs. This budget-sensitive, value-packed offering is surely worth the tour. Whether an investor 1st time buyer or looking to downsize - This home is a fantastic opportunity. Let's tour!

9. 2025-11-12
   listed $125,000 Active 626-char remark

   Show marketing remark (626 chars)

   Welcome home to this 1944 ranch with cottage charm throughout. Home affords a cozy feel and spacious floor plan. 4 bdrms & a front den/office are featured bonuses. The large galley kitchen features tall ceilings , abundant storage, and ample counter space . There's a rear living room with natural light and a slider to the rear patio leading to the large fenced backyard . A one-car attached garage is perfect for all your storage needs. This budget-sensitive, value-packed offering is surely worth the tour. Whether an investor 1st time buyer or looking to downsize - This home is a fantastic opportunity. Let's tour!

10. 2025-11-12
    listed $125,000 Active

    Show marketing remark (626 chars)

    Welcome home to this 1944 ranch with cottage charm throughout. Home affords a cozy feel and spacious floor plan. 4 bdrms & a front den/office are featured bonuses. The large galley kitchen features tall ceilings , abundant storage, and ample counter space . There's a rear living room with natural light and a slider to the rear patio leading to the large fenced backyard . A one-car attached garage is perfect for all your storage needs. This budget-sensitive, value-packed offering is surely worth the tour. Whether an investor 1st time buyer or looking to downsize - This home is a fantastic opportunity. Let's tour!

11. 2021-09-20
    soldstatus $75,000
12. 2021-06-25
    soldstatus $75,000 408-char remark

    Show marketing remark (408 chars)

    Offered as part of a portfolio of 11 properties, but seller will consider selling individually. All properties are tenant occupied. No seller financing available. Seller will consider subdividing into smaller packages. Call or email for a PDF with additional details. Seller reserves the right to remove any property from this portfolio prior to accepting an offer. Showing: 10am-1pm Saturday, June 5th

13. 2021-06-25
    soldstatus $75,000

    Show marketing remark (408 chars)

    Offered as part of a portfolio of 11 properties, but seller will consider selling individually. All properties are tenant occupied. No seller financing available. Seller will consider subdividing into smaller packages. Call or email for a PDF with additional details. Seller reserves the right to remove any property from this portfolio prior to accepting an offer. Showing: 10am-1pm Saturday, June 5th

14. 2021-05-10
    listed $68,187 408-char remark

    Show marketing remark (408 chars)

    Offered as part of a portfolio of 11 properties, but seller will consider selling individually. All properties are tenant occupied. No seller financing available. Seller will consider subdividing into smaller packages. Call or email for a PDF with additional details. Seller reserves the right to remove any property from this portfolio prior to accepting an offer. Showing: 10am-1pm Saturday, June 5th

15. 2021-05-10
    listed $68,187

    Show marketing remark (408 chars)

    Offered as part of a portfolio of 11 properties, but seller will consider selling individually. All properties are tenant occupied. No seller financing available. Seller will consider subdividing into smaller packages. Call or email for a PDF with additional details. Seller reserves the right to remove any property from this portfolio prior to accepting an offer. Showing: 10am-1pm Saturday, June 5th

16. 2007-07-20
    soldstatus $105,000
17. 2007-04-18
    soldstatus $47,000
18. 2006-11-17
    soldstatus $47,000
19. 2006-08-11
    listed $70,200
20. 2001-12-17
    soldstatus $68,900

ⓘ 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: $3,729 · $311/mo
• Projected year-2 tax: $3,729 · $311/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: $21,096
• − Mortgage interest: −$6,156
• − Property taxes: −$3,729
• − Insurance: −$550
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$3,197
• Taxable income: $4,089
• Est. tax owed @ 24.0%: −$981
• After-tax cash flow: $4,490/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

+59.5% since first listed

20 events — show timeline

• 2026-04-29 Pending — REALCOMP
• 2026-04-29 Pending — Greater Lansing AoR
• 2026-02-11 Price Changed $109,900 REALCOMP
• 2026-02-11 Price Changed $109,900 Greater Lansing AoR
• 2026-01-08 Price Changed $115,000 REALCOMP
• 2026-01-08 Price Changed $115,000 Greater Lansing AoR
• 2026-01-04 Relisted — REALCOMP
• 2026-01-03 Listing Removed — REALCOMP
• 2025-11-12 Listed $125,000 REALCOMP
• 2025-11-12 Listed $125,000 Greater Lansing AoR
• 2021-09-20 Sold (Public Records) $75,000 Public Records
• 2021-06-25 Sold (MLS) $75,000 REALCOMP
• 2021-06-25 Sold (MLS) $75,000 Greater Lansing AoR
• 2021-05-10 Listed $68,187 REALCOMP
• 2021-05-10 Listed $68,187 Greater Lansing AoR
• 2007-07-20 Sold (Public Records) $105,000 Public Records
• 2007-04-18 Sold (Public Records) $47,000 Public Records
• 2006-11-17 Sold (MLS) $47,000 Greater Lansing AoR
• 2006-08-11 Listed $70,200 Greater Lansing AoR
• 2001-12-17 Sold (Public Records) $68,900 Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,729 · -22.9% YoY. Source: county tax records.