942 Dakin St · Lansing, MI 48912

$48,000

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 18 Days on market

Built 1926 3,920 sqft lot Est $82k · 41% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity in Lansing! 942 Dakin Street offers tremendous potential for the right buyer. Situated on a huge corner lot, this property is perfect for investors, flippers, or contractors looking for their next project. The home is in very rough condition and will require extensive repairs and updates. Sold strictly AS-IS, CASH ONLY. Great opportunity to renovate, rebuild, or add to your investment portfolio. Convenient Lansing location with plenty of upside potential. Bring your vision and unlock the possibilities!

Key facts

• Huge corner lot
• 3,920 sq ft lot
• Garage

Tags

• HUGE CORNER LOT
• INVESTMENT OPPORTUNITY

Property features AI

Exterior

• Parking: Detached garage (1 garage space); garage faces side; on-street parking available
• Utilities: Public sewer
• Home design: Ranch-style single-story home; Built in 1926; Faces city street
• Construction: Hardboard exterior; Block foundation; Shingle roof; One level
• Exterior features: Front covered porch; Fire pit; Back yard and front yard; Corner city lot; Near public transit; Curbs, sidewalks and street lights

Interior

• Kitchen: Kitchen (12 x 8)
• Bedrooms: 2 bedrooms (both on main level): Primary bedroom 11 x 11, Second bedroom 11 x 11
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced-air heating (natural gas); No central cooling
• Interior features: Full basement; No built-in appliances listed
• Laundry & utility: Laundry area in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $47k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.5% 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 (+7.0%/yr); 98 active listings in the ZIP; 15 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $332 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 + 7.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago 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.
• Current owner paid $7k; list at $48k implies a 587% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,280 (1.5% below list)

Questions for the listing agent

1. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 2.24% ✓
• Cap rate: 17.45%
• Cash-on-cash: 39.85%
• DSCR: 2.77
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $81,532
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1245 Parkview St	0.20mi	3/1.0 (+1)	702 (-6%)	0mo	$112,000	$160	75
517 S Clemens Ave	0.52mi	2/1.0	693 (-7%)	2mo	$58,000	$84	62
617 S Hosmer St	0.55mi	2/1.0	796 (+6%)	2mo	$87,000	$109	62
1039 Morgan St	0.28mi	2/2.0	827 (+11%)	4mo	$135,000	$163	62
520 S Leslie St	0.40mi	2/1.0	840 (+12%)	1mo	$113,000	$135	60
506 S East St	0.69mi	2/1.0	720 (-4%)	2mo	$52,000	$72	60
1128 Hickory St	0.38mi	2/1.0	860 (+15%)	4mo	$95,000	$110	54
1111 Regent St	0.41mi	1/1.0 (-1)	836 (+12%)	3mo	$25,000	$30	54
421 S Clemens Ave	0.56mi	2/1.0	839 (+12%)	1mo	$110,000	$131	52
629 S Foster Ave	0.71mi	2/1.0	688 (-8%)	2mo	$56,000	$81	52
411 S Hayford Ave	0.72mi	2/1.0	689 (-8%)	2mo	$51,000	$74	52
640 S Magnolia Ave	0.56mi	2/1.0	650 (-13%)	4mo	$50,000	$77	48

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 · 7.02% rent growth · sell at horizon

5-year hold

• IRR: 41.1%
• Equity multiple: 2.88×
• Total profit: $25,233
• Equity at exit: $7,157

10-year hold

• IRR: 49.4%
• Equity multiple: 6.88×
• Total profit: $78,997
• Equity at exit: $4,150

Cash invested: $13,440 (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 48912

• Rents YoY: 7.0%
• Active inventory: 98
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,075 high
• Mortgage (P&I): −$252
• Tax from tax record: −$132 /mo · $1,579/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $446

Break-even live

Break-even rent $510

Max offer price $48,000

Occupancy floor 54%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1420 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$750	$1.07	21d	3	0.60mi
1424 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$915	$1.31	44d	1	0.62mi
2208 Marcus St Lansing, MI	3.0	1.0	616	$1,175	$1.91	21d	1	0.66mi
129 S Hosmer St Unit 1 Lansing, MI	1.0	1.0	500	$795	$1.59	21d	1	0.77mi
2010 E Michigan Ave Unit 209 Lansing, MI	1.0	1.0	730	$1,350	$1.85	14d	1	0.79mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	44d	1	0.87mi
313 E Saint Joseph St Lansing, MI	2.0	1.0	475	$1,150	$2.42	14d	7	0.91mi
509 Cherry St Unit 2 Lansing, MI	1.0	1.0	550	$975	$1.77	21d	1	0.96mi
825 S Washington Ave Apt 103 Lansing, MI	1.0	1.0	520	$1,095	$2.11	44d	1	1.06mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	44d	9	1.09mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	21d	3	1.09mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	14d	1	1.11mi
1016 E Greenlawn Ave Unit 3 Lansing, MI	2.0	1.0	750	$925	$1.23	14d	1	1.36mi
420 S Walnut St Lansing, MI	1.0	1.0	525	$875	$1.67	44d	1	1.41mi
515 S Chestnut St Lansing, MI	1.0	1.0	646	$942	$1.46	14d	8	1.41mi

Listing history 21 events

1. 2026-06-17
   status $48,000 Pending 18 DOM
2. 2026-06-16
   days on market $48,000 Active Under Contract 18 DOM
3. 2026-06-15
   status $48,000 Active Under Contract 17 DOM
4. 2026-06-15
   days on market $48,000 Active 17 DOM
5. 2026-06-14
   days on market $48,000 Active 15 DOM
6. 2026-06-13
   days on market $48,000 Active 14 DOM
7. 2026-06-10
   days on market $48,000 Active 12 DOM
8. 2026-06-09
   days on market $48,000 Active 11 DOM
9. 2026-06-08
   days on market $48,000 Active 10 DOM
10. 2026-06-07
    days on market $48,000 Active 9 DOM
11. 2026-06-05
    pricedays on market $48,000 Active 6 DOM
12. 2026-06-03
    days on market $50,000 Active 5 DOM
13. 2026-06-02
    days on market $50,000 Active 4 DOM
14. 2026-06-01
    days on market $50,000 Active 3 DOM
15. 2026-05-31
    days on market $50,000 Active 2 DOM
16. 2026-05-29
    listed $50,000 Active

    Show marketing remark (530 chars)

    Investment opportunity in Lansing! 942 Dakin Street offers tremendous potential for the right buyer. Situated on a huge corner lot, this property is perfect for investors, flippers, or contractors looking for their next project. The home is in very rough condition and will require extensive repairs and updates. Sold strictly AS-IS, CASH ONLY. Great opportunity to renovate, rebuild, or add to your investment portfolio. Convenient Lansing location with plenty of upside potential. Bring your vision and unlock the possibilities!

17. 2026-05-29
    listed $50,000 Active 530-char remark

    Show marketing remark (530 chars)

    Investment opportunity in Lansing! 942 Dakin Street offers tremendous potential for the right buyer. Situated on a huge corner lot, this property is perfect for investors, flippers, or contractors looking for their next project. The home is in very rough condition and will require extensive repairs and updates. Sold strictly AS-IS, CASH ONLY. Great opportunity to renovate, rebuild, or add to your investment portfolio. Convenient Lansing location with plenty of upside potential. Bring your vision and unlock the possibilities!

18. 2016-06-16
    soldstatus $6,990
19. 2016-06-16
    soldstatus $6,990
20. 2016-01-20
    listed $14,900
21. 2016-01-20
    listed $14,900

ⓘ 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: $1,579 · $132/mo
• Projected year-2 tax: $1,579 · $132/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 6/10 Major FEMA zone X (unshaded) · 75% 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: $12,905
• − Mortgage interest: −$2,689
• − Property taxes: −$1,579
• − Insurance: −$240
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$1,396
• Taxable income: $4,936
• Est. tax owed @ 24.0%: −$1,185
• After-tax cash flow: $4,171/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): 17,674
• Household income: $54,429
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 1171.0

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 56% Black 22% Two or more races 12% Hispanic / Latino 10% Asian 4%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Romanian 5% Iranian 4% Lithuanian 3%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 5% French/Haitian/Cajun 1% Korean 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: ▼ -167.67%
• Current HPI: 171.1549
• Rent YoY: ▲ 7.02%
• 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

+235.6% since first listed

6 events — show timeline

• 2026-05-29 Listed $50,000 REALCOMP
• 2026-05-29 Listed $50,000 Greater Lansing AoR
• 2016-06-16 Sold (MLS) $6,990 REALCOMP
• 2016-06-16 Sold (MLS) $6,990 Greater Lansing AoR
• 2016-01-20 Listed $14,900 REALCOMP
• 2016-01-20 Listed $14,900 Greater Lansing AoR

Property tax history

+4.7%/yr

Latest (2025): $1,579 · +2.9% YoY. Source: county tax records.