601 Jessop Ave · Lansing, MI 48910 4546

$77,999

2 bd · 1.0 ba · 1,265 sqft · SingleFamily public records · 135 Days on market

Built 1950 Fair condition 6,534 sqft lot 2-car garage $62/sqft · 33% below area Est $134k · 42% under

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Why this score? — see what drove the A- 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
• Appreciation +5.0/10.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

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

• Inviting living area
• Thoughtful updates
• Practical kitchen

Tags

• DETACHED GARAGE
• CLEAN YARD
• PRACTICAL KITCHEN
• INVITING LIVING AREA
• THOUGHTFUL UPDATES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $78k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 5.9% 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: Cavanaugh School (315 students, 89% FRL); Attwood School (193 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: 1 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 117d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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

• In year one you build about $3k of equity ($539 loan paydown + $2k appreciation (3.0% local appreciation)).
• 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $16k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.2% 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 $68,639 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.71% ✓
• Cap rate: 12.50%
• Cash-on-cash: 22.18%
• DSCR: 1.99
• GRM: 4.9

CMA / ARV

• ARV (median comp): $133,963
• List price: $77,999
• Delta: -41.78%
• 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
705 Ridgewood Ave	0.24mi	3/1.0 (+1)	1,172 (-7%)	0mo	$167,500	$143	72
220 E Potter Ave	0.38mi	3/1.5 (+1)	1,248 (-1%)	8mo	$155,000	$124	66
3223 Plymouth Dr	0.60mi	3/1.5 (+1)	1,274 (+1%)	1mo	$185,000	$145	63
624 Julia St	0.27mi	3/2.0 (+1)	1,387 (+10%)	0mo	$189,900	$137	62
4613 Stafford Ave	0.50mi	2/1.0	1,378 (+9%)	8mo	$155,000	$112	55
3129 Cedarbrook Ave	0.65mi	3/2.0 (+1)	1,296 (+2%)	4mo	$220,950	$170	54
221 W Everettdale Ave	0.54mi	3/2.0 (+1)	1,203 (-5%)	6mo	$113,920	$95	52
3149 Plymouth Dr	0.66mi	3/1.0 (+1)	1,180 (-7%)	4mo	$145,900	$124	50
560 Paris Ave	0.74mi	2/2.0	1,340 (+6%)	5mo	$199,000	$149	47
5019 Devonshire Ave	0.74mi	3/1.0 (+1)	1,360 (+8%)	4mo	$200,000	$147	45
4500 Devonshire Ave	0.51mi	3/1.0 (+1)	1,452 (+15%)	3mo	$175,000	$121	44
1101 Kendon Dr	0.54mi	3/1.5 (+1)	1,451 (+15%)	6mo	$198,500	$137	38

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: 28.4%
• Equity multiple: 2.61×
• Total profit: $35,198
• Equity at exit: $35,072

10-year hold

• IRR: 29.0%
• Equity multiple: 5.09×
• Total profit: $89,395
• Equity at exit: $54,050

Cash invested: $21,840 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 17 active · 25 under contract
• Months of supply: 3.6 mo (27%/mo absorbed)
• Median asking: $145,000 ($118/sqft)
• Median days on market: 55 d
• This list price: 6% of active listings are priced below it
• ARV vs active asking: -10.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48910 4546

• Active inventory: 1
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,332 high
• Mortgage (P&I): −$409
• Tax from tax record: −$207 /mo · $2,480/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $404

Break-even live

Break-even rent $821

Max offer price $77,999

Occupancy floor 65%

Sensitivity live

Price	-10% $448	-5% $426	+0% $404	+5% $382	+10% $360
Rent	-10% $299	-5% $351	+0% $404	+5% $456	+10% $509
Rate	-1.0pp $443	-0.5pp $424	base $404	+0.5pp $384	+1.0pp $363

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: $19,500
• Closing costs: $2,340
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 E Everettdale Ave Lansing, MI	2.0	1.0	1066	$1,200	$1.13	2d	1	0.27mi
430 Dunlap St Lansing, MI	2.0	1.0	940	$1,450	$1.54	116d	1	1.03mi
2305 E Jolly Rd Unit 2319-04 Lansing, MI	2.0	1.5	1300	$1,420	$1.09	139d	1	1.46mi
2305 E Jolly Rd Unit 2319-14 Lansing, MI	2.0	1.5	1300	$1,345	$1.03	116d	1	1.46mi
2305 E Jolly Rd Unit 2313-07 Lansing, MI	2.0	1.5	1300	$1,485	$1.14	6d	1	1.46mi
2305 E Jolly Rd Unit 2309-07 Lansing, MI	2.0	1.5	1300	$1,440	$1.11	116d	1	1.46mi
2301 E Jolly Rd Lansing, MI	1.0–2.0	1.0–1.5	1045	$1,485	$1.42	0d	14	1.46mi

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 sourcePublic sewer
• Home design: Single-family residenceOne storyEntry at ground level
• Construction: Built with other construction materialsBlock foundation
• Exterior features: Paved roadLot dimensions approximately 61.15 x 105 (0.15 acres)Ground-level entry

Interior

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

Listing history 50 events

1. 2026-09-24
   days on market $77,999 Active 135 DOM
2. 2026-09-22
   days on market $77,999 Active 134 DOM
3. 2026-09-21
   days on market $77,999 Active 133 DOM
4. 2026-09-20
   days on market $77,999 Active 132 DOM
5. 2026-09-19
   days on market $77,999 Active 131 DOM
6. 2026-09-18
   days on market $77,999 Active 130 DOM
7. 2026-09-17
   days on market $77,999 Active 129 DOM
8. 2026-09-16
   days on market $77,999 Active 128 DOM
9. 2026-09-15
   days on market $77,999 Active 127 DOM
10. 2026-09-14
    days on market $77,999 Active 126 DOM
11. 2026-09-13
    days on market $77,999 Active 125 DOM
12. 2026-09-12
    days on market $77,999 Active 124 DOM
13. 2026-09-11
    days on market $77,999 Active 123 DOM
14. 2026-09-05
    days on market $77,999 Active 117 DOM
15. 2026-09-04
    days on market $77,999 Active 116 DOM
16. 2026-09-03
    days on market $77,999 Active 115 DOM
17. 2026-08-31
    days on market $77,999 Active 112 DOM
18. 2026-08-30
    days on market $77,999 Active 111 DOM
19. 2026-08-29
    days on market $77,999 Active 110 DOM
20. 2026-08-28
    days on market $77,999 Active 109 DOM
21. 2026-08-27
    days on market $77,999 Active 108 DOM
22. 2026-08-25
    days on market $77,999 Active 106 DOM
23. 2026-08-24
    days on market $77,999 Active 105 DOM
24. 2026-08-23
    days on market $77,999 Active 104 DOM
25. 2026-08-22
    days on market $77,999 Active 103 DOM
26. 2026-08-21
    days on market $77,999 Active 102 DOM
27. 2026-08-20
    days on market $77,999 Active 101 DOM
28. 2026-08-19
    days on market $77,999 Active 100 DOM
29. 2026-08-18
    price $77,999 Active 99 DOM
30. 2026-08-18
    days on market $79,999 Active 99 DOM
31. 2026-08-17
    days on market $79,999 Active 98 DOM
32. 2026-08-16
    days on market $79,999 Active 97 DOM
33. 2026-08-15
    days on market $79,999 Active 96 DOM
34. 2026-08-14
    days on market $79,999 Active 95 DOM
35. 2026-08-13
    days on market $79,999 Active 94 DOM
36. 2026-08-12
    days on market $79,999 Active 93 DOM
37. 2026-08-11
    days on market $79,999 Active 92 DOM
38. 2026-08-10
    days on market $79,999 Active 91 DOM
39. 2026-08-09
    days on market $79,999 Active 90 DOM
40. 2026-08-08
    days on market $79,999 Active 89 DOM
41. 2026-08-07
    days on market $79,999 Active 88 DOM
42. 2026-08-06
    days on market $79,999 Active 87 DOM
43. 2026-08-05
    days on market $79,999 Active 86 DOM
44. 2026-08-04
    days on market $79,999 Active 85 DOM
45. 2026-08-03
    days on market $79,999 Active 84 DOM
46. 2026-08-01
    price $79,999 Active 81 DOM
47. 2026-07-31
    days on market $81,999 Active 81 DOM
48. 2026-07-30
    days on market $81,999 Active 80 DOM
49. 2026-07-29
    days on market $81,999 Active 79 DOM
50. 2026-07-27
    days on market $81,999 Active 77 DOM

ⓘ 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: $15,979
• − Mortgage interest: −$4,369
• − Property taxes: −$2,480
• − Insurance: −$390
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$2,269
• Taxable income: $3,914
• Est. tax owed @ 24.0%: −$939
• After-tax cash flow: $3,906/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.

Condition & rehab AI · 10 photos

Fair 45/100 Moderate rehab Est. rehab $31,625–$56,925 screening

This home requires moderate renovations, including roof replacement and exterior painting, to improve its condition and value.

Components & finishes AI

Roof asphalt shingle · aged Flooring wood

Deferred maintenance Est. $50,000–$150,000 screening

• Major Roof (roof) — Significant wear and tear visible on the roof
• Major Windows (windows) — Older windows with peeling paint and visible damage
• Major Electrical (electrical) — Exposed wiring and outdated electrical panel
• Major Plumbing (plumbing) — Signs of water damage and potential leaks
• Major Exterior (exterior) — Peeling paint, damaged siding, and general wear on exterior

Repairs flagged

• Major roof — Signs of significant wear and tear
• Major exterior siding — Worn and peeling
• Major interior walls — Paint chipped and worn

Value-add opportunities

• Both Paint exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace roof — Critical for structural integrity and long-term value ↑
• Both Landscaping and yard maintenance — Improves curb appeal and adds value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Cavanaugh School Middle Attwood School High Everett High School F MI #428/713 Nat'l #11,077/17,239

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

B Composite livability gradescore 79/100

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

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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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

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 sourcePublic sewer
• Home design: Single-family residenceOne storyEntry at ground level
• Construction: Built with other construction materialsBlock foundation
• Exterior features: Paved roadLot dimensions approximately 61.15 x 105 (0.15 acres)Ground-level entry

Interior

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

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.