601 Jessop Ave · Lansing, MI 48910

$89,000

2 bd · 1.0 ba · 1,265 sqft · SingleFamily public records · 38 Days on market

Built 1950 6,534 sqft lot $70/sqft · 47% below area Est $97k · 8% 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 +11.0/15.0
• 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 to 601 Jessop - a charming, updated, and efficient home that's perfect for first-time buyers, downsizers, or investors looking for a move-in-ready property. This home offers 1,000 total square feet, including a detached garage, with approximately 723 square feet of comfortable and well-designed living space inside. The layout is bright and functional, giving you everything you need without any wasted space. Step inside to an inviting living area, a practical kitchen, and cozy bedrooms that make the home feel warm and welcoming. Thoughtful updates throughout add peace of mind for any buyer. Outside, you'll find a clean yard with plenty of room to relax, garden, or entertain, along with the detached garage, perfect for parking, storage, or even a small workshop. This added space provides flexibility that's hard to find at this price point. Whether you're searching for an affordable primary residence or a strong rental property, 601 Jessop offers comfort, value, and long-term upside. Don't miss your chance - schedule your showing today!

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Finance

• Other: Located in the Maple Hill subdivision; on the corner of Jessop Ave and Wildwood Ave

Exterior

• Parking: Detached 2-car garage
• Utilities: Other water source; Public sewer
• Home design: Single-family residence; One story; Entry at ground level
• Construction: Built with other construction materials; Block foundation
• Exterior features: Paved road; Lot dimensions approximately 61.15 x 105 (0.15 acres); Ground-level entry

Interior

• Bedrooms: Total rooms: 2
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 30% 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 $615 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.55% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.23%
• DSCR: 1.81
• GRM: 5.4

CMA / ARV

• ARV (median comp): $96,541
• List price: $89,000
• Delta: -7.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4317 S Cedar St	0.16mi	2/1.0	1,301 (+3%)	6mo	$59,000	$45	82
4218 Donald St	0.29mi	2/1.0	1,206 (-5%)	7mo	$139,900	$116	73
220 E Potter Ave	0.38mi	3/1.5 (+1)	1,248 (-1%)	5mo	$155,000	$124	69
4613 Stafford Ave	0.50mi	2/1.0	1,378 (+9%)	5mo	$155,000	$112	58
3129 Cedarbrook Ave	0.65mi	3/2.0 (+1)	1,296 (+2%)	0mo	$220,950	$170	56
221 W Everettdale Ave	0.54mi	3/2.0 (+1)	1,203 (-5%)	3mo	$113,920	$95	55
3149 Plymouth Dr	0.66mi	3/1.0 (+1)	1,180 (-7%)	1mo	$145,900	$124	52
3216 Ellen Ave	0.54mi	3/2.0 (+1)	1,344 (+6%)	6mo	$214,900	$160	51
560 Paris Ave	0.74mi	2/2.0	1,340 (+6%)	2mo	$199,000	$149	50
5019 Devonshire Ave	0.74mi	3/1.0 (+1)	1,360 (+8%)	0mo	$200,000	$147	48
4500 Devonshire Ave	0.51mi	3/1.0 (+1)	1,452 (+15%)	0mo	$175,000	$121	46
1101 Kendon Dr	0.54mi	3/1.5 (+1)	1,451 (+15%)	3mo	$198,500	$137	41

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: 12.0%
• Equity multiple: 1.49×
• Total profit: $12,187
• Equity at exit: $13,270

10-year hold

• IRR: 22.5%
• Equity multiple: 3.10×
• Total profit: $52,241
• Equity at exit: $7,695

Cash invested: $24,920 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,379 high
• Mortgage (P&I): −$467
• Tax from tax record: −$207 /mo · $2,480/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $379

Break-even live

Break-even rent $899

Max offer price $89,000

Occupancy floor 68%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 Dunlap St Lansing, MI	2.0	1.0	940	$1,450	$1.54	21d	1	1.03mi
2305 E Jolly Rd Unit 2319-04 Lansing, MI	2.0	1.5	1300	$1,420	$1.09	44d	1	1.46mi
2305 E Jolly Rd Unit 2309-07 Lansing, MI	2.0	1.5	1300	$1,440	$1.11	21d	1	1.46mi
2305 E Jolly Rd Unit 2319-14 Lansing, MI	2.0	1.5	1300	$1,345	$1.03	21d	1	1.46mi
2301 E Jolly Rd Lansing, MI	1.0–2.0	1.0–1.5	1045	$1,440	$1.38	14d	10	1.46mi

Listing history 36 events

1. 2026-06-18
   days on market $89,000 Active 38 DOM
2. 2026-06-17
   price $89,000 Active 37 DOM

   Show marketing remark (1061 chars)

   Welcome to 601 Jessop - a charming, updated, and efficient home that's perfect for first-time buyers, downsizers, or investors looking for a move-in-ready property. This home offers 1,000 total square feet, including a detached garage, with approximately 723 square feet of comfortable and well-designed living space inside. The layout is bright and functional, giving you everything you need without any wasted space. Step inside to an inviting living area, a practical kitchen, and cozy bedrooms that make the home feel warm and welcoming. Thoughtful updates throughout add peace of mind for any buyer. Outside, you'll find a clean yard with plenty of room to relax, garden, or entertain, along with the detached garage, perfect for parking, storage, or even a small workshop. This added space provides flexibility that's hard to find at this price point. Whether you're searching for an affordable primary residence or a strong rental property, 601 Jessop offers comfort, value, and long-term upside. Don't miss your chance - schedule your showing today!

3. 2026-06-17
   days on market $92,999 Active 37 DOM

   Show marketing remark (1061 chars)

   Welcome to 601 Jessop - a charming, updated, and efficient home that's perfect for first-time buyers, downsizers, or investors looking for a move-in-ready property. This home offers 1,000 total square feet, including a detached garage, with approximately 723 square feet of comfortable and well-designed living space inside. The layout is bright and functional, giving you everything you need without any wasted space. Step inside to an inviting living area, a practical kitchen, and cozy bedrooms that make the home feel warm and welcoming. Thoughtful updates throughout add peace of mind for any buyer. Outside, you'll find a clean yard with plenty of room to relax, garden, or entertain, along with the detached garage, perfect for parking, storage, or even a small workshop. This added space provides flexibility that's hard to find at this price point. Whether you're searching for an affordable primary residence or a strong rental property, 601 Jessop offers comfort, value, and long-term upside. Don't miss your chance - schedule your showing today!

4. 2026-06-16
   days on market $92,999 Active 36 DOM
5. 2026-06-15
   days on market $92,999 Active 35 DOM
6. 2026-06-14
   days on market $92,999 Active 33 DOM
7. 2026-06-13
   days on market $92,999 Active 32 DOM
8. 2026-06-10
   days on market $92,999 Active 30 DOM
9. 2026-06-09
   days on market $92,999 Active 29 DOM
10. 2026-06-08
    days on market $92,999 Active 28 DOM
11. 2026-06-07
    days on market $92,999 Active 27 DOM
12. 2026-06-05
    days on market $92,999 Active 24 DOM
13. 2026-06-03
    days on market $92,999 Active 23 DOM
14. 2026-06-02
    days on market $92,999 Active 22 DOM
15. 2026-06-01
    days on market $92,999 Active 21 DOM
16. 2026-05-31
    days on market $92,999 Active 20 DOM
17. 2026-05-30
    days on market $92,999 Active 19 DOM
18. 2026-05-11
    listed $93,999 Active 1093-char remark

    Show marketing remark (1061 chars)

    Welcome to 601 Jessop - a charming, updated, and efficient home that's perfect for first-time buyers, downsizers, or investors looking for a move-in-ready property. This home offers 1,000 total square feet, including a detached garage, with approximately 723 square feet of comfortable and well-designed living space inside. The layout is bright and functional, giving you everything you need without any wasted space. Step inside to an inviting living area, a practical kitchen, and cozy bedrooms that make the home feel warm and welcoming. Thoughtful updates throughout add peace of mind for any buyer. Outside, you'll find a clean yard with plenty of room to relax, garden, or entertain, along with the detached garage, perfect for parking, storage, or even a small workshop. This added space provides flexibility that's hard to find at this price point. Whether you're searching for an affordable primary residence or a strong rental property, 601 Jessop offers comfort, value, and long-term upside. Don't miss your chance - schedule your showing today!

19. 2026-05-11
    listed $93,999 Active 1061-char remark

    Show marketing remark (1061 chars)

    Welcome to 601 Jessop - a charming, updated, and efficient home that's perfect for first-time buyers, downsizers, or investors looking for a move-in-ready property. This home offers 1,000 total square feet, including a detached garage, with approximately 723 square feet of comfortable and well-designed living space inside. The layout is bright and functional, giving you everything you need without any wasted space. Step inside to an inviting living area, a practical kitchen, and cozy bedrooms that make the home feel warm and welcoming. Thoughtful updates throughout add peace of mind for any buyer. Outside, you'll find a clean yard with plenty of room to relax, garden, or entertain, along with the detached garage, perfect for parking, storage, or even a small workshop. This added space provides flexibility that's hard to find at this price point. Whether you're searching for an affordable primary residence or a strong rental property, 601 Jessop offers comfort, value, and long-term upside. Don't miss your chance - schedule your showing today!

20. 2026-05-02
    historical
21. 2026-04-11
    status Active
22. 2026-04-11
    status Active
23. 2026-03-09
    status Pending
24. 2026-03-09
    status Pending
25. 2026-03-09
    historical
26. 2026-01-13
    price $94,500
27. 2026-01-12
    price $94,500
28. 2026-01-03
    price $98,900
29. 2026-01-02
    price $98,900
30. 2025-12-10
    price $99,999
31. 2025-12-09
    price $99,999
32. 2025-12-03
    listed $104,999 Active
33. 2025-12-03
    listed $104,999 Active
34. 2006-07-13
    soldstatus $92,800
35. 2006-05-02
    soldstatus $59,000
36. 2006-01-06
    listed $64,000

ⓘ 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: $2,480 · $207/mo
• Projected year-2 tax: $2,480 · $207/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 5/10 Major FEMA zone X (unshaded) · 51% 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: $16,544
• − Mortgage interest: −$4,985
• − Property taxes: −$2,480
• − Insurance: −$445
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$2,589
• Taxable income: $3,397
• Est. tax owed @ 24.0%: −$815
• After-tax cash flow: $3,729/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

+39.1% since first listed

23 events — show timeline

• 2026-06-17 Price Changed $89,000 MiRealSource-MiMLS
• 2026-06-17 Price Changed $89,000 REALCOMP
• 2026-05-20 Price Changed $92,999 MiRealSource-MiMLS
• 2026-05-20 Price Changed $92,999 REALCOMP
• 2026-05-11 Listed $93,999 REALCOMP
• 2026-05-11 Listed $93,999 MiRealSource-MiMLS
• 2026-05-02 Listing Removed — MiRealSource-MiMLS
• 2026-04-11 Relisted — MiRealSource-MiMLS
• 2026-04-11 Relisted — REALCOMP
• 2026-03-09 Pending — MiRealSource-MiMLS
• 2026-03-09 Pending — REALCOMP
• 2026-03-09 Listing Removed — REALCOMP
• 2026-01-13 Price Changed $94,500 MiRealSource-MiMLS
• 2026-01-12 Price Changed $94,500 REALCOMP
• 2026-01-03 Price Changed $98,900 MiRealSource-MiMLS
• 2026-01-02 Price Changed $98,900 REALCOMP
• 2025-12-10 Price Changed $99,999 MiRealSource-MiMLS
• 2025-12-09 Price Changed $99,999 REALCOMP
• 2025-12-03 Listed $104,999 REALCOMP
• 2025-12-03 Listed $104,999 MiRealSource-MiMLS
• 2006-07-13 Sold (Public Records) $92,800 Public Records
• 2006-05-02 Sold (MLS) $59,000 REALCOMP
• 2006-01-06 Listed $64,000 REALCOMP

Property tax history

+3.8%/yr

Latest (2025): $2,480 · +3.0% YoY. Source: county tax records.