1204 Shepard St · Lansing, MI 48912

$79,900

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 320 Days on market

Built 1955 5,227 sqft lot Est $57k · 41% over

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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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +8.5/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into 1204 Shepard St, a home that beautifully blends traditional charm with a modern aesthetic. The refinished hardwood floors boast a deep, contemporary stain, creating a sophisticated foundation for your decor. The kitchen is outfitted with sleek stainless steel appliances, ready to inspire your culinary creations. Outdoors, a private backyard awaits, complete with a covered patio for al fresco dining and a charming chicken coop, offering a unique touch of sustainable living. There is a small garage for storage or parking. The location provides exceptional convenience, just moments from the bus route, Potter Park, and major thoroughfares like 496 and 127. This home is close to Downtown, shopping, schools and parks. Call today for a showing!Any accepted offers are subject to third party approval for short sale.

Key facts

• Private backyard
• Covered patio
• 5,227 sq ft lot

Tags

• REFINISHED HARDWOOD FLOORS
• STAINLESS STEEL APPLIANCES
• PRIVATE BACKYARD
• COVERED PATIO
• CHARMING CHICKEN COOP

Property features AI

Finance

• HOA & community: Community amenities include park and playground

Exterior

• Parking: Detached enclosed garage with driveway (garage faces front)
• Utilities: 100 Amp electric service; Public sewer; Water connected; Natural gas connected; High-speed internet available; Cable available; Phone available; Electricity connected
• Home design: One-story property; Updated / remodeled; Built in 1955; Shingle roof; Located on a city street; Subdivision: City Park
• Construction: Vinyl siding; Block foundation; Other structures on lot include garage(s) and a poultry coop
• Exterior features: Private yard with full backyard fencing; Covered front porch and patio; Rain gutters; Few trees; Rectangular city lot (approx. 44 x 115.5); Park and playground nearby

Interior

• Kitchen: Refrigerator; Dishwasher; Laminate countertops
• Bedrooms: Primary bedroom (10 x 10); Second bedroom (10 x 10)
• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (forced air); Central air conditioning
• Interior features: Ceiling fans; Laminate counters; Tray ceilings; Accessible central living area; Accessible entrance; Accessible hallways; Daylight full basement
• Laundry & utility: Gas dryer hookup; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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, 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; 14 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 $552 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 + 7.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 320 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 10y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 320 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.35% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.52%
• DSCR: 1.51
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $56,784
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1245 Parkview St	0.37mi	3/1.0 (+1)	702 (-4%)	1mo	$112,000	$160	71
1119 Leslie St	0.11mi	2/1.0	824 (+13%)	5mo	$64,000	$78	68
517 S Clemens Ave	0.54mi	2/1.0	693 (-5%)	2mo	$58,000	$84	65
629 S Foster Ave	0.60mi	2/1.0	688 (-6%)	2mo	$56,000	$81	61
1111 Regent St	0.17mi	1/1.0 (-1)	836 (+15%)	3mo	$25,000	$30	60
411 S Hayford Ave	0.70mi	2/1.0	689 (-5%)	2mo	$51,000	$74	57
640 S Magnolia Ave	0.48mi	2/1.0	650 (-11%)	4mo	$50,000	$77	56
515 S Clemens Ave	0.54mi	1/1.0 (-1)	659 (-10%)	5mo	$42,000	$64	50
624 S Hayford Ave	0.54mi	2/1.0	624 (-14%)	2mo	$37,000	$59	49
425 S Hayford Ave	0.69mi	2/1.0	800 (+10%)	7mo	$50,000	$63	45
1039 Morgan St	0.54mi	2/2.0	827 (+14%)	4mo	$135,000	$163	44
510 Regent St	0.53mi	3/1.0 (+1)	836 (+15%)	5mo	$77,000	$92	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 · 7.02% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.24×
• Total profit: $5,345
• Equity at exit: $11,913

10-year hold

• IRR: 18.9%
• Equity multiple: 2.91×
• Total profit: $42,809
• Equity at exit: $6,908

Cash invested: $22,372 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,080 high
• Mortgage (P&I): −$419
• Tax from tax record: −$186 /mo · $2,232/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $215

Break-even live

Break-even rent $808

Max offer price $79,900

Occupancy floor 75%

Sensitivity live

Price	-10% $260	-5% $237	+0% $215	+5% $192	+10% $170
Rent	-10% $129	-5% $172	+0% $215	+5% $257	+10% $300
Rate	-1.0pp $255	-0.5pp $235	base $215	+0.5pp $194	+1.0pp $173

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2208 Marcus St Lansing, MI	3.0	1.0	616	$1,175	$1.91	22d	1	0.61mi
1420 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$750	$1.07	22d	3	0.68mi
1424 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$915	$1.31	45d	1	0.69mi
2010 E Michigan Ave Unit 209 Lansing, MI	1.0	1.0	730	$1,350	$1.85	15d	1	0.88mi
129 S Hosmer St Unit 1 Lansing, MI	1.0	1.0	500	$795	$1.59	22d	1	1.09mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	45d	1	1.17mi
313 E Saint Joseph St Lansing, MI	2.0	1.0	475	$1,150	$2.42	15d	7	1.21mi
1016 E Greenlawn Ave Unit 3 Lansing, MI	2.0	1.0	750	$925	$1.23	15d	1	1.25mi
509 Cherry St Unit 2 Lansing, MI	1.0	1.0	550	$975	$1.77	22d	1	1.27mi
1199 Arbor Dr Unit 10 East Lansing, MI	1.0	1.0	500	$875	$1.75	45d	1	1.35mi
825 S Washington Ave Apt 103 Lansing, MI	1.0	1.0	520	$1,095	$2.11	45d	1	1.35mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	22d	3	1.37mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	45d	9	1.37mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	15d	1	1.38mi

Listing history 42 events

1. 2026-06-21
   days on market $79,900 Active 320 DOM
2. 2026-06-18
   days on market $79,900 Active 317 DOM
3. 2026-06-17
   days on market $79,900 Active 316 DOM
4. 2026-06-16
   days on market $79,900 Active 315 DOM
5. 2026-06-15
   days on market $79,900 Active 314 DOM
6. 2026-06-14
   days on market $79,900 Active 312 DOM
7. 2026-06-13
   pricestatusdays on market $79,900 Active 311 DOM
8. 2026-06-10
   days on market $49,900 Active Under Contract 309 DOM
9. 2026-06-09
   days on market $49,900 Active Under Contract 308 DOM
10. 2026-06-08
    days on market $49,900 Active Under Contract 307 DOM
11. 2026-06-07
    days on market $49,900 Active Under Contract 306 DOM
12. 2026-06-05
    days on market $49,900 Active Under Contract 303 DOM
13. 2026-06-03
    days on market $49,900 Active Under Contract 302 DOM
14. 2026-06-02
    days on market $49,900 Active Under Contract 301 DOM
15. 2026-06-01
    days on market $49,900 Active Under Contract 300 DOM
16. 2026-05-31
    days on market $49,900 Active Under Contract 299 DOM
17. 2026-05-30
    days on market $49,900 Active Under Contract 298 DOM
18. 2026-01-25
    historical Active Under Contract 828-char remark

    Show marketing remark (828 chars)

    Step into 1204 Shepard St, a home that beautifully blends traditional charm with a modern aesthetic. The refinished hardwood floors boast a deep, contemporary stain, creating a sophisticated foundation for your decor. The kitchen is outfitted with sleek stainless steel appliances, ready to inspire your culinary creations. Outdoors, a private backyard awaits, complete with a covered patio for al fresco dining and a charming chicken coop, offering a unique touch of sustainable living. There is a small garage for storage or parking. The location provides exceptional convenience, just moments from the bus route, Potter Park, and major thoroughfares like 496 and 127. This home is close to Downtown, shopping, schools and parks. Call today for a showing!Any accepted offers are subject to third party approval for short sale.

19. 2026-01-25
    historical Active Under Contract

    Show marketing remark (828 chars)

    Step into 1204 Shepard St, a home that beautifully blends traditional charm with a modern aesthetic. The refinished hardwood floors boast a deep, contemporary stain, creating a sophisticated foundation for your decor. The kitchen is outfitted with sleek stainless steel appliances, ready to inspire your culinary creations. Outdoors, a private backyard awaits, complete with a covered patio for al fresco dining and a charming chicken coop, offering a unique touch of sustainable living. There is a small garage for storage or parking. The location provides exceptional convenience, just moments from the bus route, Potter Park, and major thoroughfares like 496 and 127. This home is close to Downtown, shopping, schools and parks. Call today for a showing!Any accepted offers are subject to third party approval for short sale.

20. 2026-01-22
    price $49,900 828-char remark

    Show marketing remark (828 chars)

    Step into 1204 Shepard St, a home that beautifully blends traditional charm with a modern aesthetic. The refinished hardwood floors boast a deep, contemporary stain, creating a sophisticated foundation for your decor. The kitchen is outfitted with sleek stainless steel appliances, ready to inspire your culinary creations. Outdoors, a private backyard awaits, complete with a covered patio for al fresco dining and a charming chicken coop, offering a unique touch of sustainable living. There is a small garage for storage or parking. The location provides exceptional convenience, just moments from the bus route, Potter Park, and major thoroughfares like 496 and 127. This home is close to Downtown, shopping, schools and parks. Call today for a showing!Any accepted offers are subject to third party approval for short sale.

21. 2026-01-22
    price $49,900

    Show marketing remark (828 chars)

    Step into 1204 Shepard St, a home that beautifully blends traditional charm with a modern aesthetic. The refinished hardwood floors boast a deep, contemporary stain, creating a sophisticated foundation for your decor. The kitchen is outfitted with sleek stainless steel appliances, ready to inspire your culinary creations. Outdoors, a private backyard awaits, complete with a covered patio for al fresco dining and a charming chicken coop, offering a unique touch of sustainable living. There is a small garage for storage or parking. The location provides exceptional convenience, just moments from the bus route, Potter Park, and major thoroughfares like 496 and 127. This home is close to Downtown, shopping, schools and parks. Call today for a showing!Any accepted offers are subject to third party approval for short sale.

22. 2025-10-31
    status Active 828-char remark

    Show marketing remark (828 chars)

    Step into 1204 Shepard St, a home that beautifully blends traditional charm with a modern aesthetic. The refinished hardwood floors boast a deep, contemporary stain, creating a sophisticated foundation for your decor. The kitchen is outfitted with sleek stainless steel appliances, ready to inspire your culinary creations. Outdoors, a private backyard awaits, complete with a covered patio for al fresco dining and a charming chicken coop, offering a unique touch of sustainable living. There is a small garage for storage or parking. The location provides exceptional convenience, just moments from the bus route, Potter Park, and major thoroughfares like 496 and 127. This home is close to Downtown, shopping, schools and parks. Call today for a showing!Any accepted offers are subject to third party approval for short sale.

23. 2025-10-31
    status Active

    Show marketing remark (828 chars)

    Step into 1204 Shepard St, a home that beautifully blends traditional charm with a modern aesthetic. The refinished hardwood floors boast a deep, contemporary stain, creating a sophisticated foundation for your decor. The kitchen is outfitted with sleek stainless steel appliances, ready to inspire your culinary creations. Outdoors, a private backyard awaits, complete with a covered patio for al fresco dining and a charming chicken coop, offering a unique touch of sustainable living. There is a small garage for storage or parking. The location provides exceptional convenience, just moments from the bus route, Potter Park, and major thoroughfares like 496 and 127. This home is close to Downtown, shopping, schools and parks. Call today for a showing!Any accepted offers are subject to third party approval for short sale.

24. 2025-10-29
    historical Active Under Contract 828-char remark

    Show marketing remark (828 chars)

    Step into 1204 Shepard St, a home that beautifully blends traditional charm with a modern aesthetic. The refinished hardwood floors boast a deep, contemporary stain, creating a sophisticated foundation for your decor. The kitchen is outfitted with sleek stainless steel appliances, ready to inspire your culinary creations. Outdoors, a private backyard awaits, complete with a covered patio for al fresco dining and a charming chicken coop, offering a unique touch of sustainable living. There is a small garage for storage or parking. The location provides exceptional convenience, just moments from the bus route, Potter Park, and major thoroughfares like 496 and 127. This home is close to Downtown, shopping, schools and parks. Call today for a showing!Any accepted offers are subject to third party approval for short sale.

25. 2025-10-29
    historical Active Under Contract

    Show marketing remark (828 chars)

    Step into 1204 Shepard St, a home that beautifully blends traditional charm with a modern aesthetic. The refinished hardwood floors boast a deep, contemporary stain, creating a sophisticated foundation for your decor. The kitchen is outfitted with sleek stainless steel appliances, ready to inspire your culinary creations. Outdoors, a private backyard awaits, complete with a covered patio for al fresco dining and a charming chicken coop, offering a unique touch of sustainable living. There is a small garage for storage or parking. The location provides exceptional convenience, just moments from the bus route, Potter Park, and major thoroughfares like 496 and 127. This home is close to Downtown, shopping, schools and parks. Call today for a showing!Any accepted offers are subject to third party approval for short sale.

26. 2025-08-05
    listed $89,900 Active 828-char remark

    Show marketing remark (828 chars)

    Step into 1204 Shepard St, a home that beautifully blends traditional charm with a modern aesthetic. The refinished hardwood floors boast a deep, contemporary stain, creating a sophisticated foundation for your decor. The kitchen is outfitted with sleek stainless steel appliances, ready to inspire your culinary creations. Outdoors, a private backyard awaits, complete with a covered patio for al fresco dining and a charming chicken coop, offering a unique touch of sustainable living. There is a small garage for storage or parking. The location provides exceptional convenience, just moments from the bus route, Potter Park, and major thoroughfares like 496 and 127. This home is close to Downtown, shopping, schools and parks. Call today for a showing!Any accepted offers are subject to third party approval for short sale.

27. 2025-08-04
    listed $89,900 Active
28. 2023-09-20
    soldstatus $80,000
29. 2023-09-11
    soldstatus $80,000 Closed 535-char remark

    Show marketing remark (535 chars)

    Welcome to this newly updated and charming 2-bedroom, 1-bathroom home nestled in the convenient Lansing East Side neighborhood! Boasting a delightful ambiance, this adorable property offers a host of desirable features. The home provides easy access to a fully fenced-in backyard, allowing you to enjoy privacy and security. Additionally, a garage and ample backyard space provide the perfect setting for outdoor activities and gatherings. This updated home is truly a sight to behold and is expected to generate significant interest.

30. 2023-09-11
    soldstatus $80,000

    Show marketing remark (535 chars)

    Welcome to this newly updated and charming 2-bedroom, 1-bathroom home nestled in the convenient Lansing East Side neighborhood! Boasting a delightful ambiance, this adorable property offers a host of desirable features. The home provides easy access to a fully fenced-in backyard, allowing you to enjoy privacy and security. Additionally, a garage and ample backyard space provide the perfect setting for outdoor activities and gatherings. This updated home is truly a sight to behold and is expected to generate significant interest.

31. 2023-08-21
    status Pending 535-char remark

    Show marketing remark (535 chars)

    Welcome to this newly updated and charming 2-bedroom, 1-bathroom home nestled in the convenient Lansing East Side neighborhood! Boasting a delightful ambiance, this adorable property offers a host of desirable features. The home provides easy access to a fully fenced-in backyard, allowing you to enjoy privacy and security. Additionally, a garage and ample backyard space provide the perfect setting for outdoor activities and gatherings. This updated home is truly a sight to behold and is expected to generate significant interest.

32. 2023-06-22
    price $79,000 535-char remark

    Show marketing remark (535 chars)

    Welcome to this newly updated and charming 2-bedroom, 1-bathroom home nestled in the convenient Lansing East Side neighborhood! Boasting a delightful ambiance, this adorable property offers a host of desirable features. The home provides easy access to a fully fenced-in backyard, allowing you to enjoy privacy and security. Additionally, a garage and ample backyard space provide the perfect setting for outdoor activities and gatherings. This updated home is truly a sight to behold and is expected to generate significant interest.

33. 2023-06-21
    listed $74,900 Active 535-char remark

    Show marketing remark (535 chars)

    Welcome to this newly updated and charming 2-bedroom, 1-bathroom home nestled in the convenient Lansing East Side neighborhood! Boasting a delightful ambiance, this adorable property offers a host of desirable features. The home provides easy access to a fully fenced-in backyard, allowing you to enjoy privacy and security. Additionally, a garage and ample backyard space provide the perfect setting for outdoor activities and gatherings. This updated home is truly a sight to behold and is expected to generate significant interest.

34. 2023-06-21
    listed $79,000

    Show marketing remark (535 chars)

    Welcome to this newly updated and charming 2-bedroom, 1-bathroom home nestled in the convenient Lansing East Side neighborhood! Boasting a delightful ambiance, this adorable property offers a host of desirable features. The home provides easy access to a fully fenced-in backyard, allowing you to enjoy privacy and security. Additionally, a garage and ample backyard space provide the perfect setting for outdoor activities and gatherings. This updated home is truly a sight to behold and is expected to generate significant interest.

35. 2016-09-12
    soldstatus $13,000
36. 2016-09-12
    soldstatus $13,000
37. 2016-06-21
    listed $14,500
38. 2016-06-21
    listed $14,500
39. 2016-06-21
    historical
40. 2016-06-20
    historical
41. 2016-01-22
    listed $14,999
42. 2016-01-22
    listed $14,999

ⓘ 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: $2,232 · $186/mo
• Projected year-2 tax: $2,232 · $186/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 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: $12,958
• − Mortgage interest: −$4,476
• − Property taxes: −$2,232
• − Insurance: −$400
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − Depreciation: −$2,324
• Taxable income: $1,453
• Est. tax owed @ 24.0%: −$349
• After-tax cash flow: $2,229/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

+232.7% since first listed

25 events — show timeline

• 2026-01-25 Contingent — REALCOMP
• 2026-01-25 Contingent — Greater Lansing AoR
• 2026-01-22 Price Changed $49,900 REALCOMP
• 2026-01-22 Price Changed $49,900 Greater Lansing AoR
• 2025-10-31 Relisted — REALCOMP
• 2025-10-31 Relisted — Greater Lansing AoR
• 2025-10-29 Contingent — REALCOMP
• 2025-10-29 Contingent — Greater Lansing AoR
• 2025-08-05 Listed $89,900 REALCOMP
• 2025-08-04 Listed $89,900 Greater Lansing AoR
• 2023-09-20 Sold (Public Records) $80,000 Public Records
• 2023-09-11 Sold (MLS) $80,000 REALCOMP
• 2023-09-11 Sold (MLS) $80,000 Greater Lansing AoR
• 2023-08-21 Pending — Greater Lansing AoR
• 2023-06-22 Price Changed $79,000 Greater Lansing AoR
• 2023-06-21 Listed $79,000 REALCOMP
• 2023-06-21 Listed $74,900 Greater Lansing AoR
• 2016-09-12 Sold (MLS) $13,000 Greater Lansing AoR
• 2016-09-12 Sold (MLS) $13,000 REALCOMP
• 2016-06-21 Listing Removed — REALCOMP
• 2016-06-21 Listed $14,500 Greater Lansing AoR
• 2016-06-21 Listed $14,500 REALCOMP
• 2016-06-20 Listing Removed — Greater Lansing AoR
• 2016-01-22 Listed $14,999 Greater Lansing AoR
• 2016-01-22 Listed $14,999 REALCOMP

Property tax history

+4.8%/yr

Latest (2025): $2,232 · +3.0% YoY. Source: county tax records.