1704 Massachusetts Ave · Lansing, MI 48906

$69,900

2 bd · 1.0 ba · 528 sqft · SingleFamily public records · 66 Days on market

Built 1922 4,356 sqft lot $132/sqft · at area comps Est $68k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +6.4/15.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1704 Massachusetts Ave in Lansing, an excellent opportunity for investors or buyers looking to add their personal touch. This 2-bedroom home features a recently remodeled kitchen and bathroom (2025), providing a strong starting point for future improvements. With solid bones and great potential, the property primarily needs cosmetic updates to truly shine. Additional highlights include a covered front porch, perfect for relaxing outdoors. With a motivated seller and plenty of upside, this is a great chance to build equity or add to your investment portfolio.

Key facts

• Covered front porch
• Remodeled bathroom
• Remodeled kitchen

Tags

• REMODELED KITCHEN
• REMODELED BATHROOM
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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 (+10.5%/yr); 138 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 79% 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 $483 of loan paydown is wiped out by about $2k 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 + 8.0% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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 $40k; list at $70k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.46% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.36%
• DSCR: 1.73
• GRM: 5.7

CMA / ARV

• ARV (median comp): $68,234
• List price: $69,900
• Delta: 2.44%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1704 Massachusetts Ave	0.00mi	2/1.0	528 (0%)	1mo	$62,000	$117	99
1922 Polly Ave	0.56mi	3/1.0 (+1)	572 (+8%)	7mo	$80,000	$140	49

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: 13.4%
• Equity multiple: 1.57×
• Total profit: $11,118
• Equity at exit: $10,422

10-year hold

• IRR: 26.0%
• Equity multiple: 3.88×
• Total profit: $56,333
• Equity at exit: $6,044

Cash invested: $19,572 (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 48906

• Rents YoY: 10.5%
• Active inventory: 138
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,021 high
• Mortgage (P&I): −$367
• Tax from tax record: −$144 /mo · $1,728/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $267

Break-even live

Break-even rent $683

Max offer price $69,900

Occupancy floor 69%

Sensitivity live

Price	-10% $306	-5% $287	+0% $267	+5% $247	+10% $227
Rent	-10% $186	-5% $227	+0% $267	+5% $307	+10% $348
Rate	-1.0pp $302	-0.5pp $285	base $267	+0.5pp $249	+1.0pp $230

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1025 N Washington Ave Unit 9 Lansing, MI	1.0	1.0	670	$1,000	$1.49	44d	1	0.99mi
936 N Fairview Ave Lansing, MI	1.0–2.0	1.0	825	$1,245	$1.51	44d	2	1.01mi
1016 N Capitol Ave Unit 3 Lansing, MI	1.0	1.0	500	$800	$1.60	44d	1	1.03mi
1016 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	700	$850	$1.21	44d	1	1.03mi
1245 Weber Dr Unit 2 Lansing, MI	2.0	1.0	700	$1,250	$1.79	44d	1	1.04mi
1216 N Chestnut St Lansing, MI	1.0	1.0	562	$900	$1.60	14d	1	1.17mi
917 Seymour Ave Unit 3 Lansing, MI	1.0	1.0	475	$800	$1.68	44d	1	1.17mi
801 N Capitol Ave Unit 4 Lansing, MI	1.0	1.0	600	$1,000	$1.67	44d	1	1.18mi
801 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	550	$950	$1.73	44d	1	1.18mi
826 N Walnut St Lansing, MI	1.0	1.0	700	$700	$1.00	44d	2	1.25mi
220 W Lapeer St Unit 3 Lansing, MI	1.0	1.0	450	$850	$1.89	44d	1	1.31mi
1010 N Pine St Unit B Lansing, MI	2.0	1.0	750	$1,100	$1.47	44d	1	1.32mi
316 W Saginaw St Unit 318 Lansing, MI	1.0	1.0	750	$950	$1.27	44d	1	1.32mi
129 S Hosmer St Unit 1 Lansing, MI	1.0	1.0	500	$795	$1.59	22d	1	1.43mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	44d	1	1.44mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	22d	1	1.44mi
427 Seymour Ave Unit 205 Lansing, MI	1.0	1.0	570	$1,100	$1.93	44d	1	1.44mi
427 Seymour Ave Unit 102 Lansing, MI	1.0	1.0	540	$850	$1.57	22d	1	1.44mi
504 W Lapeer St Apt A Lansing, MI	2.0	1.0	600	$895	$1.49	44d	1	1.46mi

Listing history 12 events

1. 2026-05-15
   status Pending 575-char remark

   Show marketing remark (575 chars)

   Welcome to 1704 Massachusetts Ave in Lansing, an excellent opportunity for investors or buyers looking to add their personal touch. This 2-bedroom home features a recently remodeled kitchen and bathroom (2025), providing a strong starting point for future improvements. With solid bones and great potential, the property primarily needs cosmetic updates to truly shine. Additional highlights include a covered front porch, perfect for relaxing outdoors. With a motivated seller and plenty of upside, this is a great chance to build equity or add to your investment portfolio.

2. 2026-05-15
   status Pending 575-char remark

   Show marketing remark (575 chars)

   Welcome to 1704 Massachusetts Ave in Lansing, an excellent opportunity for investors or buyers looking to add their personal touch. This 2-bedroom home features a recently remodeled kitchen and bathroom (2025), providing a strong starting point for future improvements. With solid bones and great potential, the property primarily needs cosmetic updates to truly shine. Additional highlights include a covered front porch, perfect for relaxing outdoors. With a motivated seller and plenty of upside, this is a great chance to build equity or add to your investment portfolio.

3. 2026-05-04
   historical Active Under Contract 575-char remark

   Show marketing remark (575 chars)

   Welcome to 1704 Massachusetts Ave in Lansing, an excellent opportunity for investors or buyers looking to add their personal touch. This 2-bedroom home features a recently remodeled kitchen and bathroom (2025), providing a strong starting point for future improvements. With solid bones and great potential, the property primarily needs cosmetic updates to truly shine. Additional highlights include a covered front porch, perfect for relaxing outdoors. With a motivated seller and plenty of upside, this is a great chance to build equity or add to your investment portfolio.

4. 2026-05-04
   historical Active Under Contract 575-char remark

   Show marketing remark (575 chars)

   Welcome to 1704 Massachusetts Ave in Lansing, an excellent opportunity for investors or buyers looking to add their personal touch. This 2-bedroom home features a recently remodeled kitchen and bathroom (2025), providing a strong starting point for future improvements. With solid bones and great potential, the property primarily needs cosmetic updates to truly shine. Additional highlights include a covered front porch, perfect for relaxing outdoors. With a motivated seller and plenty of upside, this is a great chance to build equity or add to your investment portfolio.

5. 2026-03-10
   listed $69,900 Active 575-char remark

   Show marketing remark (575 chars)

   Welcome to 1704 Massachusetts Ave in Lansing, an excellent opportunity for investors or buyers looking to add their personal touch. This 2-bedroom home features a recently remodeled kitchen and bathroom (2025), providing a strong starting point for future improvements. With solid bones and great potential, the property primarily needs cosmetic updates to truly shine. Additional highlights include a covered front porch, perfect for relaxing outdoors. With a motivated seller and plenty of upside, this is a great chance to build equity or add to your investment portfolio.

6. 2026-03-10
   listed $69,900 Active 575-char remark

   Show marketing remark (575 chars)

   Welcome to 1704 Massachusetts Ave in Lansing, an excellent opportunity for investors or buyers looking to add their personal touch. This 2-bedroom home features a recently remodeled kitchen and bathroom (2025), providing a strong starting point for future improvements. With solid bones and great potential, the property primarily needs cosmetic updates to truly shine. Additional highlights include a covered front porch, perfect for relaxing outdoors. With a motivated seller and plenty of upside, this is a great chance to build equity or add to your investment portfolio.

7. 2022-08-24
   soldstatus $40,500
8. 2007-07-25
   soldstatus $10,000
9. 2007-07-21
   historical
10. 2007-03-21
    listed $10,000
11. 2007-03-21
    listed $14,900
12. 2004-01-29
    soldstatus $50,000

ⓘ 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: $1,728 · $144/mo
• Projected year-2 tax: $1,728 · $144/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 ≥97°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: $12,252
• − Mortgage interest: −$3,915
• − Property taxes: −$1,728
• − Insurance: −$350
• − Repairs & maintenance: −$980
• − Management: −$980
• − Depreciation: −$2,033
• Taxable income: $2,265
• Est. tax owed @ 24.0%: −$544
• After-tax cash flow: $2,659/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): 25,901
• Household income: $64,315
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 851.0

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 0.56)
• Race & ethnicity: White 64% Black 15% Two or more races 12% Hispanic / Latino 12% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -135.54%
• Current HPI: 228.7023
• Rent YoY: ▲ 10.50%
• 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

+39.8% since first listed

12 events — show timeline

• 2026-05-15 Pending — REALCOMP
• 2026-05-15 Pending — Greater Lansing AoR
• 2026-05-04 Contingent — REALCOMP
• 2026-05-04 Contingent — Greater Lansing AoR
• 2026-03-10 Listed $69,900 REALCOMP
• 2026-03-10 Listed $69,900 Greater Lansing AoR
• 2022-08-24 Sold (Public Records) $40,500 Public Records
• 2007-07-25 Sold (MLS) $10,000 Greater Lansing AoR
• 2007-07-21 Listing Removed — Greater Lansing AoR
• 2007-03-21 Listed $14,900 Greater Lansing AoR
• 2007-03-21 Listed $10,000 Greater Lansing AoR
• 2004-01-29 Sold (Public Records) $50,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,728 · -26.5% YoY. Source: county tax records.