3305 Inverary Dr · Lansing, MI 48911

$189,900

5 bd · 2.0 ba · 3,135 sqft · SingleFamily public records · 25 Days on market

Built 1967 9,583 sqft lot $61/sqft · 44% below area Est $259k · 27% under ↓ 30% since listing

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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 +15.0/15.0
• Cash flow +13.2/30.0
• Rent growth +5.0/5.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice two-story home with five bedrooms and two bathrooms on quiet street. Large living room with fireplace, formal dining room and family room. Spacious kitchen with numerous cabinets and countertops. Huge primary suite with bathroom. Full basement to make your own.

Key facts

• 9,583 sq ft lot
• 2 garage spots
• Built 1967

Property features AI

Finance

• Other: Approximately 2,407 living area (listed); Lot roughly 0.22 acre (approximately 80 x 120)

Exterior

• Parking: Attached garage with garage door opener
• Utilities: Public sewer
• Home design: Two-story home; Built in 1967; Updated/remodeled condition
• Construction: Brick and aluminum siding exterior
• Exterior features: Front yard; Back yard; City lot; Front porch

Interior

• Kitchen: Dishwasher; Range; Disposal
• Bedrooms: 5 bedrooms (primary bedroom included)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Updated/remodeled interior; Full basement
• Laundry & utility: Washer; Dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-3 ($-39/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (12.3% below list).
• Recommended offer: $167k (12.3% 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, 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 (+9.9%/yr); 143 active listings in the ZIP; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 35% of the median local income ($57k/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 $1k of loan paydown is wiped out by about $6k 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 25 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $80k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $166,550 (12.3% 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. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (median comp): $259,268
• List price: $189,900
• Delta: -26.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2924 Woodview Dr	0.28mi	5/2.5	3,308 (+6%)	3mo	$272,000	$82	74
2300 Hampshire Rd	0.65mi	4/2.5 (-1)	3,453 (+10%)	11mo	$311,000	$90	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.58×
• Total profit: $-22,145
• Equity at exit: $28,315

10-year hold

• IRR: 4.3%
• Equity multiple: 1.39×
• Total profit: $20,632
• Equity at exit: $16,419

Cash invested: $53,172 (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 48911

• Rents YoY: 9.9%
• Active inventory: 143
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,666 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$244 /mo · $2,928/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-3

Break-even live

Break-even rent $1,670

Max offer price $189,333

Occupancy floor 95%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-09
   status $189,900 Pending 25 DOM
2. 2026-06-08
   days on market $189,900 Active 25 DOM

   Show marketing remark (266 chars)

   Nice two-story home with five bedrooms and two bathrooms on quiet street. Large living room with fireplace, formal dining room and family room. Spacious kitchen with numerous cabinets and countertops. Huge primary suite with bathroom. Full basement to make your own.

3. 2026-06-07
   days on market $189,900 Active 24 DOM
4. 2026-06-05
   pricedays on market $189,900 Active 21 DOM
5. 2026-06-03
   days on market $219,900 Active 20 DOM

   Show marketing remark (266 chars)

   Nice two-story home with five bedrooms and two bathrooms on quiet street. Large living room with fireplace, formal dining room and family room. Spacious kitchen with numerous cabinets and countertops. Huge primary suite with bathroom. Full basement to make your own.

6. 2026-06-02
   days on market $219,900 Active 19 DOM
7. 2026-06-01
   days on market $219,900 Active 18 DOM
8. 2026-05-31
   days on market $219,900 Active 17 DOM
9. 2026-05-30
   days on market $219,900 Active 16 DOM
10. 2026-05-14
    listed $269,900 Active 266-char remark

    Show marketing remark (266 chars)

    Nice two-story home with five bedrooms and two bathrooms on quiet street. Large living room with fireplace, formal dining room and family room. Spacious kitchen with numerous cabinets and countertops. Huge primary suite with bathroom. Full basement to make your own.

11. 2026-05-14
    listed $269,900 Active 266-char remark

    Show marketing remark (266 chars)

    Nice two-story home with five bedrooms and two bathrooms on quiet street. Large living room with fireplace, formal dining room and family room. Spacious kitchen with numerous cabinets and countertops. Huge primary suite with bathroom. Full basement to make your own.

12. 2026-05-01
    historical $269,900 266-char remark

ⓘ 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: $2,928 · $244/mo
• Projected year-2 tax: $2,928 · $244/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 3/10 Moderate 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: $19,986
• − Mortgage interest: −$10,637
• − Property taxes: −$2,928
• − Insurance: −$950
• − Repairs & maintenance: −$1,599
• − Management: −$1,599
• − Depreciation: −$5,524
• Taxable loss: −$3,251
• Est. tax savings @ 24.0%: +$780
• After-tax cash flow: $742/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): 39,876
• Household income: $56,631
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 2255.0

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 0.70)
• Race & ethnicity: White 46% Black 26% Hispanic / Latino 14% Two or more races 10% Asian 8%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 3% Slovak 2% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam, Philippines
• Languages at home: 83% English-only · Spanish 5% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -179.62%
• Current HPI: 176.0632
• Rent YoY: ▲ 9.90%
• 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

-29.6% since first listed

9 events — show timeline

• 2026-06-08 Pending — REALCOMP
• 2026-06-08 Pending — Greater Lansing AoR
• 2026-06-03 Price Changed $189,900 REALCOMP
• 2026-06-03 Price Changed $189,900 Greater Lansing AoR
• 2026-05-27 Price Changed $219,900 REALCOMP
• 2026-05-27 Price Changed $219,900 Greater Lansing AoR
• 2026-05-14 Listed $269,900 REALCOMP
• 2026-05-14 Listed $269,900 Greater Lansing AoR
• 2026-05-01 Coming Soon $269,900 Greater Lansing AoR

Property tax history

-0.7%/yr

Latest (2025): $2,928 · -50.7% YoY. Source: county tax records.