1433 Bailey St · Lansing, MI 48910

$89,900

3 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 9 Days on market

Built 1913 4,356 sqft lot Est $128k · 30% 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 +29.5/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1433 Bailey Street, a 3-bedroom, 1.5-bath home tucked away on a quiet stretch of the street. Offering 1,120 sqft of comfortable living space, this home features a functional layout with a main-floor bedroom that provides flexibility for guests, a home office, or convenient single-level living. The spacious kitchen flows into generous dining and living areas, creating plenty of room for everyday living and entertaining. Upstairs, you'll find two additional bedrooms with ample space and storage. Outside, enjoy a large detached garage and a private backyard perfect for relaxing, gardening, or gathering with friends and family. Whether you're looking for your next home or an investment opportunity, this property offers comfort, versatility & value in a convenient Lansing location.

Key facts

• Main-floor bedroom
• Private backyard
• Spacious kitchen

Tags

• MAIN-FLOOR BEDROOM
• SPACIOUS KITCHEN
• PRIVATE BACKYARD
• LARGE DETACHED GARAGE

Property features AI

Finance

• Other: Lot dimensions approximately 33 x 127 (0.1 acre)
• Financial info: Current use: Rental / Investment

Exterior

• Parking: Driveway; Detached 1-car garage
• Utilities: 100 amp electric service; Public sewer
• Home design: Built in 1913; One and one half story
• Construction: Aluminum siding; Vinyl siding; Foundation information not provided
• Exterior features: Back yard; Back yard fencing; Shingle roof

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms (Primary bedroom present)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating; No cooling
• Interior features: Partial basement; Range; Refrigerator
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 10.6% 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 (+4.7%/yr); 177 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $622 of loan paydown is wiped out by about $3k 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 + 4.7% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 20y 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 $43k; list at $90k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1913 — 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: 1.50% ✓
• Cap rate: 10.57%
• Cash-on-cash: 15.29%
• DSCR: 1.68
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $127,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
841 Baker St	0.13mi	3/1.0	960 (-14%)	0mo	$57,000	$59	70
227 Woodlawn Ave	0.64mi	3/1.0	1,120 (0%)	3mo	$89,900	$80	68
202 Woodlawn Ave	0.58mi	3/1.0	1,094 (-2%)	4mo	$35,000	$32	66
1024 E Malcolm X St	0.64mi	3/1.0	1,104 (-1%)	3mo	$145,000	$131	65
1240 Climax St	0.69mi	3/1.0	1,144 (+2%)	0mo	$109,900	$96	64
1819 Alpha St	0.45mi	3/2.0	1,208 (+8%)	2mo	$175,000	$145	60
2311 S Pennsylvania Ave	0.68mi	3/1.0	1,170 (+4%)	1mo	$133,000	$114	60
2001 Clifton Ave	0.68mi	3/1.5	1,166 (+4%)	1mo	$156,055	$134	58
2340 S Pennsylvania Ave	0.73mi	4/1.0 (+1)	1,152 (+3%)	4mo	$69,000	$60	53
1200 S Holmes St	0.54mi	3/1.0	962 (-14%)	4mo	$75,000	$78	48
310 W Barnes Ave	0.69mi	3/2.0	1,270 (+13%)	3mo	$180,000	$142	39
2201 S Pennsylvania Ave	0.61mi	4/2.0 (+1)	1,286 (+15%)	1mo	$195,000	$152	37

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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: 8.2%
• Equity multiple: 1.33×
• Total profit: $8,324
• Equity at exit: $13,404

10-year hold

• IRR: 19.1%
• Equity multiple: 2.75×
• Total profit: $43,996
• Equity at exit: $7,773

Cash invested: $25,172 (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 48910

• Rents YoY: 4.7%
• Active inventory: 177
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,351 high
• Mortgage (P&I): −$471
• Tax from tax record: −$237 /mo · $2,848/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $321

Break-even live

Break-even rent $945

Max offer price $89,900

Occupancy floor 71%

Sensitivity live

Price	-10% $372	-5% $346	+0% $321	+5% $295	+10% $270
Rent	-10% $214	-5% $267	+0% $321	+5% $374	+10% $427
Rate	-1.0pp $366	-0.5pp $344	base $321	+0.5pp $297	+1.0pp $274

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1223 Bensch St Lansing, MI	3.0	1.0	850	$1,200	$1.41	21d	1	0.62mi
1027 Climax St Lansing, MI	3.0	1.5	1298	$1,550	$1.19	14d	1	0.62mi
1100 Malcolm X St Unit B Lansing, MI	2.0	1.0	979	$1,050	$1.07	14d	1	0.67mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	14d	1	0.68mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	44d	1	0.70mi
805 Bement St Unit Hosmer 507 Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	0.78mi
1828 Davis Ave Lansing, MI	2.0	1.0	700	$1,150	$1.64	44d	1	0.78mi
605 S Grand Ave Unit 2 Lansing, MI	4.0	1.0	1200	$1,100	$0.92	44d	1	0.79mi
507 S Hosmer St Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	0.80mi
910 Dakin St Lansing, MI	3.0	1.0	908	$1,295	$1.43	44d	1	0.82mi
1016 E Greenlawn Ave Unit 3 Lansing, MI	2.0	1.0	750	$925	$1.23	14d	1	0.89mi
2528 Forest Ave Lansing, MI	4.0	1.0	1175	$1,699	$1.45	44d	1	0.94mi
401 E Willard Ave Unit 19 Lansing, MI	2.0	1.0	775	$1,000	$1.29	44d	1	0.96mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	44d	1	0.98mi
401 S Washington Sq Unit 201 Lansing, MI	3.0	1.0	1254	$1,560	$1.24	44d	1	0.98mi
208 S Bingham St Lansing, MI	4.0	1.0	1020	$1,500	$1.47	14d	1	1.08mi
409 Lathrop St Lansing, MI	2.0	1.0	1342	$1,500	$1.12	21d	1	1.15mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	14d	9	1.18mi
1913 Stirling Ave Unit 1 Lansing, MI	2.0	2.0	1100	$1,200	$1.09	44d	1	1.19mi
430 Dunlap St Lansing, MI	2.0	1.0	940	$1,450	$1.54	21d	1	1.27mi
3031 S Washington Ave Lansing, MI	1.0–2.0	1.0	725	$1,100	$1.52	44d	1	1.37mi
329 S Clemens Ave Lansing, MI	3.0	1.0	1194	$1,400	$1.17	21d	1	1.39mi
905 E Shiawassee St Unit 837-01 Lansing, MI	2.0	1.0	800	$850	$1.06	44d	1	1.42mi
905 E Shiawassee St Unit 837-02 Lansing, MI	2.0	1.0	800	$750	$0.94	44d	1	1.42mi
1629 E Michigan Ave Unit 306 Lansing, MI	2.0	1.0	901	$1,550	$1.72	44d	1	1.44mi
1317 Lenore Ave Lansing, MI	2.0	1.5	1442	$850	$0.59	44d	1	1.47mi

Listing history 8 events

1. 2026-06-18
   days on market $89,900 Active 9 DOM
2. 2026-06-17
   days on market $89,900 Active 8 DOM
3. 2026-06-16
   days on market $89,900 Active 7 DOM
4. 2026-06-15
   days on market $89,900 Active 6 DOM
5. 2026-06-14
   days on market $89,900 Active 4 DOM
6. 2026-06-13
   days on market $89,900 Active 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $89,900 Active 1 DOM

ⓘ 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: $2,848 · $237/mo
• Projected year-2 tax: $2,848 · $237/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 ≥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: $16,209
• − Mortgage interest: −$5,036
• − Property taxes: −$2,848
• − Insurance: −$450
• − Repairs & maintenance: −$1,297
• − Management: −$1,297
• − Depreciation: −$2,615
• Taxable income: $2,666
• Est. tax owed @ 24.0%: −$640
• After-tax cash flow: $3,210/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): 32,800
• Household income: $54,712
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1305.0

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 58% Black 16% Hispanic / Latino 12% Two or more races 12% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 9% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 6% Chinese 1% Other Indo-European 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: ▼ -211.82%
• Current HPI: 196.8087
• Rent YoY: ▲ 4.71%
• 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

+38.5% since first listed

13 events — show timeline

• 2026-06-09 Listed $89,900 Greater Lansing AoR
• 2026-06-09 Listed $89,900 REALCOMP
• 2022-06-13 Sold (MLS) $42,900 Greater Lansing AoR
• 2022-06-13 Sold (MLS) $42,900 REALCOMP
• 2022-06-08 Pending — Greater Lansing AoR
• 2022-05-16 Listed $42,900 Greater Lansing AoR
• 2022-05-16 Listed $42,900 REALCOMP
• 2009-06-15 Listing Removed — Greater Lansing AoR
• 2008-12-11 Listed $53,900 Greater Lansing AoR
• 2008-12-08 Listing Removed — Greater Lansing AoR
• 2008-06-18 Listed $56,900 Greater Lansing AoR
• 2006-12-31 Listing Removed — Greater Lansing AoR
• 2006-04-10 Listed $64,900 Greater Lansing AoR

Property tax history

+10.1%/yr

Latest (2025): $2,848 · +3.0% YoY. Source: county tax records.