312 W Saginaw St · Lansing, MI 48933

$169,900

4 bd · 2.0 ba · 1,794 sqft · SingleFamily public records · 29 Days on market

Built 1905 2,613 sqft lot Est $170k · at est.

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Why this score? — see what drove the C- 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 +17.0/30.0
• Appreciation +9.7/10.0
• ARV discount +7.6/15.0
• DSCR +5.3/10.0
• Livability +4.0/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks

Welcome to this charming two-story home that perfectly blends classic character with modern updates. A spacious covered front porch sets the tone, offering a warm and inviting first impression before you even step inside. Through the front door, a beautiful wood staircase serves as the centerpiece of the entryway. To the right, the bright and airy living room is filled with natural light, creating the perfect space to relax or entertain. Straight ahead, the dining room impresses with an elegant chandelier, ideal for hosting gatherings or family meals. The updated kitchen flows seamlessly from the dining area, featuring stainless steel appliances and plenty of room to cook and create. Just b

Key facts

• Covered front porch
• Wood staircase
• Four seasons room

Tags

• COVERED FRONT PORCH
• WOOD STAIRCASE
• FOUR SEASONS ROOM
• STAINLESS STEEL APPLIANCES
• DEDICATED LAUNDRY ROOM
• FULL UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (14.8% below list).
• Recommended offer: $145k (14.8% below list) — sets the bar for 1% rule.

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: 13 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• At $1,447/mo this rent would consume 52% of the median local household income ($34k/yr) (locally 413% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (9.4% local appreciation)).
• Ingham County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (9.4% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $35k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $170k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,688 (14.8% below list)

Questions for the listing agent

1. Built in 1905 — 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: 0.85% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.88%
• DSCR: 1.13
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $170,430
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
514 W Genesee St	0.22mi	3/1.5 (-1)	1,757 (-2%)	1mo	$212,500	$121	79
610 N Pine St	0.19mi	3/1.5 (-1)	1,800 (+0%)	8mo	$187,700	$104	77
423 N Pine St	0.30mi	3/2.0 (-1)	1,767 (-2%)	5mo	$215,000	$122	74
609 W Shiawassee St	0.36mi	5/2.0 (+1)	1,830 (+2%)	8mo	$85,000	$46	69
506 W Oakland Ave	0.23mi	4/2.5	1,944 (+8%)	7mo	$113,500	$58	68
418 N Sycamore St	0.34mi	3/2.0 (-1)	1,880 (+5%)	7mo	$220,000	$117	65
810 N Walnut St	0.11mi	3/2.0 (-1)	1,570 (-12%)	7mo	$156,500	$100	64
820 Princeton Ave	0.51mi	4/1.5	1,692 (-6%)	4mo	$129,900	$77	62
805 Bancroft Ct	0.40mi	4/2.0	1,986 (+11%)	7mo	$102,500	$52	57
705 Princeton Ave	0.50mi	4/3.0	1,662 (-7%)	4mo	$115,000	$69	57
737 Princeton Ave	0.51mi	3/1.5 (-1)	2,004 (+12%)	0mo	$190,550	$95	49
430 Pearl St	0.75mi	3/2.5 (-1)	1,608 (-10%)	5mo	$90,000	$56	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 2.94×
• Total profit: $92,303
• Equity at exit: $145,155

10-year hold

• IRR: 22.2%
• Equity multiple: 6.55×
• Total profit: $264,261
• Equity at exit: $304,986

Cash invested: $47,572 (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 48933

• Home prices YoY: 4.1%
• Active inventory: 13
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,447 high
• Mortgage (P&I): −$891
• Tax from tax record: −$67 /mo · $806/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $114

Break-even live

Break-even rent $1,302

Max offer price $169,900

Occupancy floor 87%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
433 Seymour Ave Unit 3 Lansing, MI	3.0	1.0	1250	$1,395	$1.12	44d	1	0.18mi
401 S Washington Sq Unit 201 Lansing, MI	3.0	1.0	1254	$1,560	$1.24	44d	1	0.81mi
1012 Ontario St Lansing, MI	4.0	2.0	1320	$1,600	$1.21	21d	1	0.82mi
921 Linden Grove Ave Lansing, MI	3.0	1.0	1694	$1,499	$0.88	44d	1	0.90mi
1102 Clark St Lansing, MI	3.0	1.0	1232	$1,550	$1.26	21d	1	1.27mi
1027 Climax St Lansing, MI	3.0	1.5	1298	$1,550	$1.19	14d	1	1.49mi

Listing history 38 events

1. 2026-06-18
   days on market $169,900 Active 29 DOM
2. 2026-06-17
   days on market $169,900 Active 28 DOM
3. 2026-06-16
   days on market $169,900 Active 27 DOM
4. 2026-06-15
   days on market $169,900 Active 26 DOM
5. 2026-06-14
   days on market $169,900 Active 24 DOM
6. 2026-06-13
   pricedays on market $169,900 Active 23 DOM
7. 2026-06-10
   days on market $178,900 Active 21 DOM
8. 2026-06-09
   days on market $178,900 Active 20 DOM
9. 2026-06-08
   days on market $178,900 Active 19 DOM
10. 2026-06-07
    days on market $178,900 Active 18 DOM
11. 2026-06-05
    days on market $178,900 Active 15 DOM
12. 2026-06-03
    days on market $178,900 Active 14 DOM
13. 2026-06-02
    days on market $178,900 Active 13 DOM
14. 2026-06-01
    days on market $178,900 Active 12 DOM
15. 2026-05-31
    days on market $178,900 Active 11 DOM
16. 2026-05-30
    days on market $178,900 Active 10 DOM
17. 2026-05-17
    historical
18. 2026-05-17
    historical
19. 2026-02-24
    price $185,000
20. 2026-02-24
    price $185,000
21. 2026-02-17
    listed $204,900 Active
22. 2026-02-17
    listed $204,900 Active
23. 2025-07-10
    soldstatus $42,500 Closed
24. 2025-07-10
    soldstatus $42,500 Closed
25. 2025-06-19
    status Pending
26. 2025-06-19
    status Pending
27. 2025-05-29
    listed $49,000 Active
28. 2025-05-29
    listed $49,000 Active
29. 2024-04-05
    historical
30. 2024-04-05
    historical
31. 2023-10-05
    listed $52,000 Active
32. 2023-10-05
    listed $52,000
33. 2022-07-20
    soldstatus $40,000
34. 2022-07-20
    soldstatus $40,000 Closed
35. 2022-07-08
    status Pending
36. 2022-06-17
    price $44,900
37. 2022-06-06
    listed $44,900
38. 2022-06-06
    listed $49,500 Active

ⓘ 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: $806 · $67/mo
• Projected year-2 tax: $1,711 · $143/mo
• Expected delta: +$905/yr (+$75/mo · 112.4%)

ⓘ 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 3/10 Moderate 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: $17,363
• − Mortgage interest: −$9,517
• − Property taxes: −$806
• − Insurance: −$850
• − Repairs & maintenance: −$1,389
• − Management: −$1,389
• − Depreciation: −$4,943
• Taxable loss: −$1,530
• Est. tax savings @ 24.0%: +$367
• After-tax cash flow: $1,737/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): 3,107
• Household income: $33,589
• Rent vs Own: 94.3% rent · 5.7% own
• Severe rent burden: 413.0

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 0.66)
• Race & ethnicity: White 48% Black 33% Two or more races 10% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Ukrainian 12% Romanian 8% Slovak 2%
• Foreign-born: 16% · Canada, South Korea
• Languages at home: 80% English-only · Spanish 3% Arabic 2% 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: ▲ 9.36%
• Current HPI: 237.0666
• Rent YoY: —
• 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

+312.0% since first listed

22 events — show timeline

• 2026-05-17 Listing Removed — Greater Lansing AoR
• 2026-05-17 Listing Removed — REALCOMP
• 2026-02-24 Price Changed $185,000 REALCOMP
• 2026-02-24 Price Changed $185,000 Greater Lansing AoR
• 2026-02-17 Listed $204,900 Greater Lansing AoR
• 2026-02-17 Listed $204,900 REALCOMP
• 2025-07-10 Sold (MLS) $42,500 Greater Lansing AoR
• 2025-07-10 Sold (MLS) $42,500 REALCOMP
• 2025-06-19 Pending — REALCOMP
• 2025-06-19 Pending — Greater Lansing AoR
• 2025-05-29 Listed $49,000 REALCOMP
• 2025-05-29 Listed $49,000 Greater Lansing AoR
• 2024-04-05 Listing Removed — REALCOMP
• 2024-04-05 Listing Removed — Greater Lansing AoR
• 2023-10-05 Listed $52,000 REALCOMP
• 2023-10-05 Listed $52,000 Greater Lansing AoR
• 2022-07-20 Sold (MLS) $40,000 Greater Lansing AoR
• 2022-07-20 Sold (MLS) $40,000 REALCOMP
• 2022-07-08 Pending — Greater Lansing AoR
• 2022-06-17 Price Changed $44,900 Greater Lansing AoR
• 2022-06-06 Listed $49,500 Greater Lansing AoR
• 2022-06-06 Listed $44,900 REALCOMP

Property tax history

-7.5%/yr

Latest (2025): $806 · -88.5% YoY. Source: county tax records.