1425 Muskegon Ave · Lansing, MI 48915

$44,900

2 bd · 1.0 ba · 725 sqft · SingleFamily public records · 182 Days on market

Built 1954 8,276 sqft lot $62/sqft · 54% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

PROPERTY SOLD AS IS INSPECTIONS FOR INFORMATIONAL PURPOSE ONLY PROPERTY GUTTED TO THE STUD CLEAN SLATE FOR HANDY MAN

Key facts

• 8,276 sq ft lot
• Garage
• Built 1954

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($950 rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.0% 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, 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: Pattengill School (600 students, 88% FRL) — zoned schools average 88% FRL vs 68% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 67 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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 $310 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 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 3.6% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 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 1954 — 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: 2.12% ✓
• Cap rate: 16.00%
• Cash-on-cash: 34.67%
• DSCR: 2.54
• GRM: 3.9

CMA / ARV

• ARV (median comp): $97,773
• List price: $44,900
• Delta: -54.08%
• 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
1738 Glenrose Ave	0.08mi	2/1.0	777 (+7%)	7mo	$40,000	$51	78
1348 N Jenison Ave	0.38mi	2/1.0	672 (-7%)	3mo	$68,900	$103	67
1616 Roseneath Ave	0.31mi	2/1.0	660 (-9%)	4mo	$73,000	$111	67
1720 Comfort St	0.13mi	2/1.0	816 (+13%)	9mo	$125,000	$153	65
1430 N Martin Luther King Jr Blvd	0.38mi	3/1.0 (+1)	768 (+6%)	6mo	$62,000	$81	63
1338 Glenrose Ave	0.40mi	2/1.0	792 (+9%)	7mo	$64,000	$81	60
1706 N Martin Luther King Jr Blvd	0.24mi	3/1.0 (+1)	818 (+13%)	3mo	$129,900	$159	60
812 Cypress St	0.48mi	2/1.0	648 (-11%)	4mo	$96,000	$148	56
1544 Lansing Ave	0.38mi	3/1.0 (+1)	616 (-15%)	2mo	$78,950	$128	51
1129 N Martin Luther King Jr Blvd	0.62mi	2/1.0	798 (+10%)	4mo	$52,500	$66	51
1523 Downey St	0.53mi	2/1.0	639 (-12%)	9mo	$97,000	$152	48
1312 W Maple St	0.63mi	2/1.0	816 (+13%)	8mo	$85,000	$104	42

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: 30.2%
• Equity multiple: 2.27×
• Total profit: $15,917
• Equity at exit: $6,695

10-year hold

• IRR: 37.5%
• Equity multiple: 4.49×
• Total profit: $43,896
• Equity at exit: $3,882

Cash invested: $12,572 (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 48915

• Active inventory: 67
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $950 high
• Mortgage (P&I): −$235
• Tax from tax record: −$133 /mo · $1,596/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $363

Break-even live

Break-even rent $490

Max offer price $44,900

Occupancy floor 57%

Sensitivity live

Price	-10% $389	-5% $376	+0% $363	+5% $350	+10% $338
Rent	-10% $288	-5% $326	+0% $363	+5% $401	+10% $438
Rate	-1.0pp $386	-0.5pp $375	base $363	+0.5pp $352	+1.0pp $340

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1443 Roselawn Ave Lansing, MI	2.0	1.0	656	$750	$1.14	45d	1	0.26mi
1216 N Chestnut St Lansing, MI	1.0	1.0	562	$900	$1.60	15d	1	0.87mi
1010 N Pine St Unit B Lansing, MI	2.0	1.0	750	$1,100	$1.47	45d	1	0.92mi
917 Seymour Ave Unit 3 Lansing, MI	1.0	1.0	475	$800	$1.68	45d	1	1.12mi
826 N Walnut St Lansing, MI	1.0	1.0	700	$700	$1.00	45d	2	1.14mi
1016 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	700	$850	$1.21	45d	1	1.15mi
1016 N Capitol Ave Unit 3 Lansing, MI	1.0	1.0	500	$800	$1.60	45d	1	1.15mi
1025 N Washington Ave Unit 9 Lansing, MI	1.0	1.0	670	$1,000	$1.49	45d	1	1.18mi
504 W Lapeer St Apt A Lansing, MI	2.0	1.0	600	$895	$1.49	45d	1	1.23mi
316 W Saginaw St Unit 318 Lansing, MI	1.0	1.0	750	$950	$1.27	45d	1	1.25mi
801 N Capitol Ave Unit 4 Lansing, MI	1.0	1.0	600	$1,000	$1.67	45d	1	1.26mi
801 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	550	$950	$1.73	45d	1	1.26mi
927 W Shiawassee St Unit 10 Lansing, MI	1.0	1.0	700	$845	$1.21	45d	1	1.28mi
4515 N Grand River Ave Lansing, MI	1.0–2.0	1.0	712	$1,095	$1.54	15d	1	1.30mi
220 W Lapeer St Unit 3 Lansing, MI	1.0	1.0	450	$850	$1.89	45d	1	1.35mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	22d	1	1.42mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	45d	1	1.42mi
427 Seymour Ave Unit 102 Lansing, MI	1.0	1.0	540	$850	$1.57	22d	1	1.42mi
427 Seymour Ave Unit 205 Lansing, MI	1.0	1.0	570	$1,100	$1.93	45d	1	1.42mi
307 N Walnut St Unit 307 Lansing, MI	1.0	1.0	550	$1,100	$2.00	45d	1	1.49mi

Listing history 9 events

1. 2026-06-07
   days on market $44,900 Active 182 DOM
2. 2026-06-05
   days on market $44,900 Active 179 DOM
3. 2026-06-03
   days on market $44,900 Active 178 DOM
4. 2026-06-02
   days on market $44,900 Active 177 DOM
5. 2026-06-01
   days on market $44,900 Active 176 DOM
6. 2026-05-31
   days on market $44,900 Active 175 DOM
7. 2026-05-30
   days on market $44,900 Active 174 DOM
8. 2025-12-07
   listed $44,900 Active 116-char remark

   Show marketing remark (116 chars)

   PROPERTY SOLD AS IS INSPECTIONS FOR INFORMATIONAL PURPOSE ONLY PROPERTY GUTTED TO THE STUD CLEAN SLATE FOR HANDY MAN

9. 2025-12-07
   listed $44,900 Active 116-char remark

   Show marketing remark (116 chars)

   PROPERTY SOLD AS IS INSPECTIONS FOR INFORMATIONAL PURPOSE ONLY PROPERTY GUTTED TO THE STUD CLEAN SLATE FOR HANDY MAN

ⓘ 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: $1,596 · $133/mo
• Projected year-2 tax: $1,596 · $133/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 · 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: $11,398
• − Mortgage interest: −$2,515
• − Property taxes: −$1,596
• − Insurance: −$224
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$1,306
• Taxable income: $3,932
• Est. tax owed @ 24.0%: −$944
• After-tax cash flow: $3,414/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

+0.0% since first listed

2 events — show timeline

• 2025-12-07 Listed $44,900 REALCOMP
• 2025-12-07 Listed $44,900 Greater Lansing AoR

Property tax history

+2.8%/yr

Latest (2025): $1,596 · +2.9% YoY. Source: county tax records.