6307 Gardenia Ave · Lansing, MI 48911

$70,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 6 Days on market

Built 1923 1.63 ac lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to 6307 Gardenia Ave, an opportunity to own 1.63 acres of wooded property right in Lansing. Tucked away among mature trees and featuring private trails winding through the woods, this property offers a peaceful setting with plenty of room to enjoy nature. The home offers 3 bedrooms and approximately 1,000 square feet of living space. Recent updates include a new roof, water heater, and plumbing, all completed in 2023. Whether you're a renovator looking for your next project, an investor seeking potential, or a buyer ready to build sweat equity, this property offers endless possibilities. The expansive acreage, wooded setting, and established trails make this a truly unique opportuni

Key facts

• Expansive acreage
• Recent updates
• Private trails

Tags

• WOODED PROPERTY
• PRIVATE TRAILS
• RECENT UPDATES
• EXPANSIVE ACREAGE
• ESTABLISHED TRAILS

Property features AI

Finance

• Other: Lot approximately 1.63 acres (dimensions 152.9 x 467)

Exterior

• Parking: Driveway; No garage; On-site storage
• Utilities: Public sewer; Water connected; Sewer connected; Natural gas connected; Electricity connected
• Home design: One and one-half story home; Built in 1923; City street frontage
• Construction: Aluminum siding; Shingle roof; Block foundation
• Exterior features: Private yard; Front porch; Shed(s); Many trees / wooded setting; Neighborhood view

Interior

• Kitchen: Kitchen (appliances: water heater listed)
• Bedrooms: 3 bedrooms including a primary bedroom; One bedroom described as a loft
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No cooling
• Interior features: Laminate counters; Partially finished block basement with sump pump; 6 total rooms; Front door entry on main level
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 14.4% 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 (+9.9%/yr); 143 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $484 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 ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.73% ✓
• Cap rate: 14.44%
• Cash-on-cash: 29.10%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $151,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6246 Gardenia Ave	0.08mi	3/1.0	960 (-4%)	2mo	$180,000	$188	88
354 E Miller Rd	0.28mi	2/1.0 (-1)	1,008 (+1%)	7mo	$99,900	$99	75
6253 Hilliard Rd	0.47mi	3/1.0	960 (-4%)	1mo	$158,000	$165	71
123 E Miller Rd	0.30mi	2/1.0 (-1)	1,083 (+8%)	8mo	$147,000	$136	61
411 Sawyer Rd	0.48mi	3/1.0	960 (-4%)	13mo	$145,000	$151	60
5727 Annapolis Dr	0.64mi	3/1.0	960 (-4%)	6mo	$163,000	$170	59
720 Sawyer Rd	0.66mi	3/2.0	1,007 (+1%)	9mo	$85,000	$84	57
6339 Rosedale Rd	0.24mi	3/1.5	887 (-11%)	13mo	$85,000	$96	57
5902 Hilliard Rd	0.67mi	3/1.0	1,060 (+6%)	4mo	$89,000	$84	55
6935 Vernson Dr	0.74mi	4/1.0 (+1)	1,020 (+2%)	3mo	$182,000	$178	55
5821 Schafer Rd	0.74mi	4/1.0 (+1)	960 (-4%)	7mo	$142,500	$148	48
5751 Joshua St	0.67mi	3/1.5	1,124 (+12%)	6mo	$195,000	$173	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 29.1%
• Equity multiple: 2.29×
• Total profit: $25,362
• Equity at exit: $10,437

10-year hold

• IRR: 39.2%
• Equity multiple: 5.61×
• Total profit: $90,339
• Equity at exit: $6,052

Cash invested: $19,600 (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: 143
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,214 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $475

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 56%

Sensitivity live

Price	-10% $524	-5% $499	+0% $475	+5% $451	+10% $427
Rent	-10% $379	-5% $427	+0% $475	+5% $523	+10% $571
Rate	-1.0pp $511	-0.5pp $493	base $475	+0.5pp $457	+1.0pp $439

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 E Edgewood Blvd Lansing, MI	2.0	1.0	615	$1,245	$2.02	14d	14	0.05mi
900 Long Blvd Lansing, MI	1.0–3.0	1.0–1.5	1013	$1,495	$1.48	14d	21	0.62mi
5031 W Willoughby Rd Unit 5031 Holt, MI	2.0	1.0	1200	$1,550	$1.29	14d	1	0.79mi
814 Louisa St Lansing, MI	2.0	1.0	850	$950	$1.12	14d	2	0.84mi
5540 Kaynorth Rd Unit 4 Lansing, MI	2.0	1.0	745	$925	$1.24	44d	1	0.86mi
6129 Beechfield Dr Lansing, MI	1.0–2.0	1.0	894	$1,100	$1.23	14d	1	0.94mi
5521 Joshua St Unit ST-102 Lansing, MI	2.0	1.0	812	$975	$1.20	44d	1	0.97mi
645 E Jolly Rd Lansing, MI	1.0–2.0	1.0	775	$825	$1.06	44d	1	1.32mi
910 E Jolly Rd #2 Lansing, MI	1.0–2.0	1.0	625	$895	$1.43	22d	2	1.34mi
2294 Main St Holt, MI	2.0	1.0	869	$999	$1.15	14d	1	1.41mi

Listing history 8 events

1. 2026-06-18
   status $70,000 Pending 6 DOM
2. 2026-06-18
   days on market $70,000 Active Under Contract 6 DOM
3. 2026-06-17
   status $70,000 Active Under Contract 5 DOM
4. 2026-06-17
   days on market $70,000 Active 5 DOM
5. 2026-06-16
   days on market $70,000 Active 4 DOM
6. 2026-06-15
   days on market $70,000 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $70,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $14,568
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$2,036
• Taxable income: $4,879
• Est. tax owed @ 24.0%: −$1,171
• After-tax cash flow: $4,532/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

1 event — show timeline

• 2026-06-12 Listed $70,000 Greater Lansing AoR

Property tax history

+5.2%/yr

Latest (2025): $4,104 · +3.1% YoY. Source: county tax records.