619 Lathrop St · Lansing, MI 48912

$127,000

2 bd · 1.0 ba · 600 sqft · SingleFamily public records · 41 Days on market

Built 1925 4,356 sqft lot $212/sqft · 72% above area

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Why this score? — see what drove the D 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 +14.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 2-bedroom, 1 full bath bungalow located at 619 Lathrop St in Lansing. This home has been thoughtfully refreshed with new paint throughout, beautifully refinished hardwood floors, and brand-new carpet, offering a clean, sharp, move-in ready space. The seller has taken care to ensure the next owner can step in and enjoy the home's comfort and appeal. Inside, you'll find a cozy living room, an eat-in kitchen, two generously sized bedrooms, and a full bathroom, with comfortable, easy-to-use living spaces. A lovely three-season sunroom at the front of the home provides the perfect spot to relax and unwind, while the full basement offers abundant storage along with a dedicated laundry area. Outside, enjoy a back porch overlooking the yard, a concrete driveway with ampleparking, and a convenient storage shed. This efficient and well-located home is ideal for a first-time buyer, young couple, or busy professional looking for low-maintenance living. Just a peaceful two-block walk to Hunter Park and close to local amenities and the interstate, this property combines comfort, convenience, and opportunity???ready for your personal touches. A licensed agent must be present during showing. Buyer and buyer agent to verify all data/measurements. Schedule showing: https://lblba. sentrilock.com/ooascheduling?token=17770f03a607f4ca04576aadb58eaa40

Key facts

• 4,356 sq ft lot
• Built 1925
• Listed 41 days

Property features AI

Exterior

• Parking: Driveway; Shared driveway; No attached garage
• Utilities: 100 amp electric service; Public sewer; Water connected; Sewer connected; Natural gas connected; Electricity connected; Cable available
• Home design: One level; Built in 1925; City street frontage
• Construction: Hardboard exterior; Block foundation; Shed(s) on property
• Exterior features: Back yard; City lot; Rectangular lot; Rear porch; Shingle roof

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms (Primary bedroom 11 x 9; Bedroom 2 9 x 6)
• Flooring: Carpet; Laminate; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Laminate counters; Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $127k.

Deal economics

• At list price, monthly cash flow is $38 ($460/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 $112k (11.7% below list).
• Recommended offer: $112k (11.7% 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, 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.
• Zoned schools: Pattengill School (600 students, 88% FRL) — zoned schools average 88% FRL vs 68% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.0%/yr); 100 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $878 of loan paydown is wiped out by about $4k 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 41 days — a 3% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $127k implies a 963% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,179 (11.7% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.88% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.29%
• DSCR: 1.06
• GRM: 9.4

CMA / ARV

• ARV (median comp): $73,673
• List price: $127,000
• Delta: 72.38%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
624 S Hayford Ave	0.47mi	2/1.0	624 (+4%)	2mo	$37,000	$59	70
640 S Magnolia Ave	0.41mi	2/1.0	650 (+8%)	4mo	$50,000	$77	64
515 S Clemens Ave	0.32mi	1/1.0 (-1)	659 (+10%)	5mo	$42,000	$64	59
416 S Francis Ave	0.62mi	2/1.0	602 (+0%)	13mo	$79,900	$133	59
1231 S Holmes St	0.52mi	2/1.0	618 (+3%)	16mo	$62,177	$101	58
2010 Prospect St	0.43mi	1/1.0 (-1)	624 (+4%)	14mo	$70,000	$112	56
411 S Hayford Ave	0.52mi	2/1.0	689 (+15%)	2mo	$51,000	$74	50
127 S Magnolia Ave	0.60mi	2/1.0	660 (+10%)	8mo	$114,000	$173	49
629 S Foster Ave	0.55mi	2/1.0	688 (+15%)	2mo	$56,000	$81	48
513 S Hayford Ave	0.50mi	2/1.0	679 (+13%)	9mo	$89,900	$132	47
312 S Francis Ave	0.65mi	2/1.0	680 (+13%)	4mo	$82,900	$122	44
712 S Francis Ave	0.60mi	1/1.0 (-1)	524 (-13%)	2mo	$27,500	$52	44

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: -10.0%
• Equity multiple: 0.62×
• Total profit: $-13,417
• Equity at exit: $18,936

10-year hold

• IRR: 4.1%
• Equity multiple: 1.35×
• Total profit: $12,504
• Equity at exit: $10,981

Cash invested: $35,560 (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: 100
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,122 high
• Mortgage (P&I): −$666
• Tax from tax record: −$129 /mo · $1,547/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $38

Break-even live

Break-even rent $1,073

Max offer price $127,000

Occupancy floor 92%

Sensitivity live

Price	-10% $110	-5% $74	+0% $38	+5% $2	+10% $-34
Rent	-10% $-50	-5% $-6	+0% $38	+5% $83	+10% $127
Rate	-1.0pp $102	-0.5pp $71	base $38	+0.5pp $5	+1.0pp $-28

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: $31,750
• Closing costs: $3,810
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2208 Marcus St Lansing, MI	3.0	1.0	616	$1,175	$1.91	23d	1	0.44mi
2010 E Michigan Ave Unit 209 Lansing, MI	1.0	1.0	730	$1,350	$1.85	15d	1	0.53mi
129 S Hosmer St Unit 1 Lansing, MI	1.0	1.0	500	$795	$1.59	23d	1	0.75mi
1420 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$750	$1.07	23d	3	0.86mi
1424 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$915	$1.31	45d	1	0.87mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	45d	1	1.01mi
313 E Saint Joseph St Lansing, MI	2.0	1.0	475	$1,150	$2.42	15d	7	1.04mi
509 Cherry St Unit 2 Lansing, MI	1.0	1.0	550	$975	$1.77	23d	1	1.07mi
825 S Washington Ave Apt 103 Lansing, MI	1.0	1.0	520	$1,095	$2.11	45d	1	1.22mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	45d	9	1.25mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	23d	3	1.25mi
936 N Fairview Ave Lansing, MI	1.0–2.0	1.0	825	$1,245	$1.51	45d	2	1.25mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	15d	1	1.29mi

Listing history 23 events

1. 2026-06-21
   pricedays on market $127,000 Active 41 DOM
2. 2026-06-18
   days on market $135,000 Active 38 DOM
3. 2026-06-17
   days on market $135,000 Active 37 DOM
4. 2026-06-16
   days on market $135,000 Active 36 DOM
5. 2026-06-15
   days on market $135,000 Active 35 DOM
6. 2026-06-14
   days on market $135,000 Active 33 DOM
7. 2026-06-13
   days on market $135,000 Active 32 DOM
8. 2026-06-10
   days on market $135,000 Active 30 DOM
9. 2026-06-09
   days on market $135,000 Active 29 DOM
10. 2026-06-08
    days on market $135,000 Active 28 DOM
11. 2026-06-07
    days on market $135,000 Active 27 DOM
12. 2026-06-05
    days on market $135,000 Active 24 DOM
13. 2026-06-03
    days on market $135,000 Active 23 DOM
14. 2026-06-02
    days on market $135,000 Active 22 DOM
15. 2026-06-01
    days on market $135,000 Active 21 DOM
16. 2026-05-31
    days on market $135,000 Active 20 DOM
17. 2026-05-30
    days on market $135,000 Active 19 DOM
18. 2026-05-11
    listed $135,000 Active 1375-char remark

    Show marketing remark (1375 chars)

    Welcome to this charming 2-bedroom, 1 full bath bungalow located at 619 Lathrop St in Lansing. This home has been thoughtfully refreshed with new paint throughout, beautifully refinished hardwood floors, and brand-new carpet, offering a clean, sharp, move-in ready space. The seller has taken care to ensure the next owner can step in and enjoy the home's comfort and appeal. Inside, you'll find a cozy living room, an eat-in kitchen, two generously sized bedrooms, and a full bathroom, with comfortable, easy-to-use living spaces. A lovely three-season sunroom at the front of the home provides the perfect spot to relax and unwind, while the full basement offers abundant storage along with a dedicated laundry area. Outside, enjoy a back porch overlooking the yard, a concrete driveway with ampleparking, and a convenient storage shed. This efficient and well-located home is ideal for a first-time buyer, young couple, or busy professional looking for low-maintenance living. Just a peaceful two-block walk to Hunter Park and close to local amenities and the interstate, this property combines comfort, convenience, and opportunity???ready for your personal touches. A licensed agent must be present during showing. Buyer and buyer agent to verify all data/measurements. Schedule showing: https://lblba. sentrilock.com/ooascheduling?token=17770f03a607f4ca04576aadb58eaa40

19. 2026-05-11
    listed $135,000 Active 1379-char remark

    Show marketing remark (1375 chars)

    Welcome to this charming 2-bedroom, 1 full bath bungalow located at 619 Lathrop St in Lansing. This home has been thoughtfully refreshed with new paint throughout, beautifully refinished hardwood floors, and brand-new carpet, offering a clean, sharp, move-in ready space. The seller has taken care to ensure the next owner can step in and enjoy the home's comfort and appeal. Inside, you'll find a cozy living room, an eat-in kitchen, two generously sized bedrooms, and a full bathroom, with comfortable, easy-to-use living spaces. A lovely three-season sunroom at the front of the home provides the perfect spot to relax and unwind, while the full basement offers abundant storage along with a dedicated laundry area. Outside, enjoy a back porch overlooking the yard, a concrete driveway with ampleparking, and a convenient storage shed. This efficient and well-located home is ideal for a first-time buyer, young couple, or busy professional looking for low-maintenance living. Just a peaceful two-block walk to Hunter Park and close to local amenities and the interstate, this property combines comfort, convenience, and opportunity???ready for your personal touches. A licensed agent must be present during showing. Buyer and buyer agent to verify all data/measurements. Schedule showing: https://lblba. sentrilock.com/ooascheduling?token=17770f03a607f4ca04576aadb58eaa40

20. 2026-05-01
    historical $135,000 1379-char remark
21. 2010-02-04
    soldstatus $11,950
22. 2009-11-23
    listed $11,900
23. 2003-11-03
    soldstatus $37,000

ⓘ 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: $1,547 · $129/mo
• Projected year-2 tax: $1,751 · $146/mo
• Expected delta: +$204/yr (+$17/mo · 13.2%)

ⓘ 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 6 d/yr ≥96°F today · 14 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: $13,461
• − Mortgage interest: −$7,114
• − Property taxes: −$1,547
• − Insurance: −$635
• − Repairs & maintenance: −$1,077
• − Management: −$1,077
• − Depreciation: −$3,695
• Taxable loss: −$1,683
• Est. tax savings @ 24.0%: +$404
• After-tax cash flow: $864/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

+264.9% since first listed

6 events — show timeline

• 2026-05-11 Listed $135,000 REALCOMP
• 2026-05-11 Listed $135,000 Greater Lansing AoR
• 2026-05-01 Coming Soon $135,000 Greater Lansing AoR
• 2010-02-04 Sold (MLS) $11,950 Greater Lansing AoR
• 2009-11-23 Listed $11,900 Greater Lansing AoR
• 2003-11-03 Sold (Public Records) $37,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,547 · +2.9% YoY. Source: county tax records.