3721 Kendalwood Dr · Lansing, MI 48911

$179,900

3 bd · 1.0 ba · 1,104 sqft · SingleFamily public records · 50 Days on market

Built 1964 6,969 sqft lot Est $136k · 32% over ↓ 5% since listing

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Why this score? — see what drove the F 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 +7.5/30.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +1.9/10.0
• DSCR +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautiful ranch home. With all the modern updates throughout the home. Kitchen, bath, family room with fire place and living room with gleaming floors. 3 bedrooms, 1 bath, finished basement, 2 car detached garage, fenced back yard with an in ground swimming pool with deck. This home is a turn key! Call for your private showing.

Key facts

• 6,969 sq ft lot
• 2 garage spots
• Pool

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-227 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (22.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (27.6% below list).
• Recommended offer: $130k (27.6% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 6.0% in Lansing — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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); 144 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $1k of loan paydown is wiped out by about $5k 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 50 days — a 3% lower offer ($175k) 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.

Recommended offer $130,326 (27.6% 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. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.72% ✗
• Cap rate: 4.78%
• Cash-on-cash: -5.42%
• DSCR: 0.76
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $135,792
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3526 Berwick Dr	0.09mi	3/1.0	1,028 (-7%)	6mo	$109,000	$106	80
4009 Heathgate Dr	0.40mi	3/1.0	1,071 (-3%)	5mo	$145,000	$135	72
4209 Brighton Dr	0.23mi	3/1.5	1,220 (+10%)	2mo	$180,000	$148	68
4328 Chadburne Dr	0.45mi	3/2.0	1,046 (-5%)	5mo	$179,000	$171	62
4304 Dumfries Cir	0.65mi	3/2.0	1,112 (+1%)	5mo	$135,000	$121	60
3527 Karen St	0.66mi	3/1.5	1,164 (+5%)	1mo	$200,000	$172	57
3600 Ronald St	0.48mi	3/1.0	966 (-12%)	4mo	$155,000	$160	53
3115 Risdale Ave	0.49mi	3/1.0	973 (-12%)	6mo	$50,000	$51	53
3006 Hillcrest St	0.44mi	3/1.0	1,255 (+14%)	7mo	$128,000	$102	51
2816 Greenbelt Dr	0.54mi	3/1.0	963 (-13%)	7mo	$104,300	$108	48
3427 Maybel St	0.60mi	3/1.5	1,224 (+11%)	6mo	$80,000	$65	47
4123 Balmoral Dr	0.74mi	3/2.0	1,224 (+11%)	5mo	$150,000	$123	39

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: -20.1%
• Equity multiple: 0.27×
• Total profit: $-36,725
• Equity at exit: $26,824

10-year hold

• IRR: -4.8%
• Equity multiple: 0.62×
• Total profit: $-19,174
• Equity at exit: $15,554

Cash invested: $50,372 (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: 144
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,303 high
• Mortgage (P&I): −$943
• Tax from tax record: −$239 /mo · $2,864/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-227

Break-even live

Break-even rent $1,591

Max offer price $139,714

Occupancy floor —

Sensitivity live

Price	-10% $-126	-5% $-177	+0% $-227	+5% $-278	+10% $-329
Rent	-10% $-330	-5% $-279	+0% $-227	+5% $-176	+10% $-125
Rate	-1.0pp $-137	-0.5pp $-182	base $-227	+0.5pp $-274	+1.0pp $-322

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4106 Stillwell Ave Lansing, MI	3.0	1.5	1127	$2,100	$1.86	22d	1	0.26mi
2920 Hillcrest St Lansing, MI	3.0	1.0	1040	$1,225	$1.18	45d	1	0.45mi
2823 Hillcrest St Lansing, MI	3.0	1.0	925	$1,245	$1.35	22d	1	0.51mi
2815 Mersey Ln Lansing, MI	2.0–3.0	2.0	1050	$1,325	$1.26	15d	2	0.61mi
4125 Ingham St Lansing, MI	3.0	1.0	933	$1,300	$1.39	45d	1	0.65mi
2612 Fielding Dr Lansing, MI	2.0	1.0	1100	$1,095	$1.00	45d	1	0.66mi
2711 Dunlap St Lansing, MI	3.0	1.0	1020	$1,350	$1.32	45d	1	0.74mi
3530 W Jolly Rd Unit 6 Lansing, MI	2.0	1.0	1049	$1,100	$1.05	22d	1	0.80mi
3606 Pleasant Grove Rd Lansing, MI	1.0–2.0	1.0	812	$1,100	$1.35	45d	1	0.81mi
3334 Pleasant Grove Rd Apt 15 Lansing, MI	2.0	1.0	800	$950	$1.19	45d	1	0.86mi
3334 Pleasant Grove Rd Apt 10 Lansing, MI	2.0	1.0	800	$900	$1.12	45d	1	0.86mi
3334 Pleasant Grove Rd Unit 19 Lansing, MI	2.0	1.0	700	$999	$1.43	15d	1	0.86mi
2114 Ferrol St Unit 1 Lansing, MI	2.0	1.0	700	$950	$1.36	22d	1	0.91mi
4318 Pleasant Grove Rd Lansing, MI	1.0–3.0	1.0–2.0	722	$1,350	$1.87	15d	1	0.91mi
3501 Simken Dr Lansing, MI	2.0	1.0	900	$950	$1.06	45d	1	0.98mi
2009 W Holmes Rd Unit 11 Lansing, MI	2.0	1.0	800	$925	$1.16	15d	1	1.03mi
4030 Hartford Rd Lansing, MI	1.0–2.0	1.0	640	$1,094	$1.71	15d	42	1.05mi
3407 W Mount Hope Ave Lansing, MI	2.0	2.0	1000	$995	$0.99	15d	1	1.07mi
3313 W Mt Hope Ave Lansing, MI	2.0	1.0–2.0	869	$1,296	$1.49	15d	6	1.15mi
4245 W Jolly Rd Lansing, MI	3.0	2.0	1216	$1,199	$0.99	15d	1	1.30mi

Listing history 6 events

1. 2026-04-27
   status Pending 345-char remark

   Show marketing remark (345 chars)

   Welcome to this beautiful ranch home. With all the modern updates throughout the home. Kitchen, bath, family room with fire place and living room with gleaming floors. 3 bedrooms, 1 bath, finished basement, 2 car detached garage, fenced back yard with an in ground swimming pool with deck. This home is a turn key! Call for your private showing.

2. 2026-04-27
   status Pending

   Show marketing remark (345 chars)

   Welcome to this beautiful ranch home. With all the modern updates throughout the home. Kitchen, bath, family room with fire place and living room with gleaming floors. 3 bedrooms, 1 bath, finished basement, 2 car detached garage, fenced back yard with an in ground swimming pool with deck. This home is a turn key! Call for your private showing.

3. 2026-04-07
   price $179,900 345-char remark

   Show marketing remark (345 chars)

   Welcome to this beautiful ranch home. With all the modern updates throughout the home. Kitchen, bath, family room with fire place and living room with gleaming floors. 3 bedrooms, 1 bath, finished basement, 2 car detached garage, fenced back yard with an in ground swimming pool with deck. This home is a turn key! Call for your private showing.

4. 2026-04-07
   price $179,900

   Show marketing remark (345 chars)

   Welcome to this beautiful ranch home. With all the modern updates throughout the home. Kitchen, bath, family room with fire place and living room with gleaming floors. 3 bedrooms, 1 bath, finished basement, 2 car detached garage, fenced back yard with an in ground swimming pool with deck. This home is a turn key! Call for your private showing.

5. 2026-03-09
   listed $189,000 Active

   Show marketing remark (345 chars)

   Welcome to this beautiful ranch home. With all the modern updates throughout the home. Kitchen, bath, family room with fire place and living room with gleaming floors. 3 bedrooms, 1 bath, finished basement, 2 car detached garage, fenced back yard with an in ground swimming pool with deck. This home is a turn key! Call for your private showing.

6. 2026-03-09
   listed $189,000 Active 345-char remark

   Show marketing remark (345 chars)

   Welcome to this beautiful ranch home. With all the modern updates throughout the home. Kitchen, bath, family room with fire place and living room with gleaming floors. 3 bedrooms, 1 bath, finished basement, 2 car detached garage, fenced back yard with an in ground swimming pool with deck. This home is a turn key! Call for your private showing.

ⓘ 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: $2,864 · $239/mo
• Projected year-2 tax: $2,864 · $239/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 ≥96°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: $15,639
• − Mortgage interest: −$10,077
• − Property taxes: −$2,864
• − Insurance: −$900
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$5,233
• Taxable loss: −$5,938
• Est. tax savings @ 24.0%: +$1,425
• After-tax cash flow: $-1,305/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

-4.8% since first listed

6 events — show timeline

• 2026-04-27 Pending — REALCOMP
• 2026-04-27 Pending — Greater Lansing AoR
• 2026-04-07 Price Changed $179,900 REALCOMP
• 2026-04-07 Price Changed $179,900 Greater Lansing AoR
• 2026-03-09 Listed $189,000 Greater Lansing AoR
• 2026-03-09 Listed $189,000 REALCOMP

Property tax history

+3.9%/yr

Latest (2025): $2,864 · +3.0% YoY. Source: county tax records.