412 S Fairview Ave · Lansing, MI 48912

$120,000

4 bd · 1.5 ba · 1,408 sqft · SingleFamily public records · 30 Days on market

Built 1917 4,356 sqft lot $85/sqft · 12% below area Est $136k · 12% 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 +27.5/30.0
• ARV discount +12.8/15.0
• DSCR +9.7/10.0
• 1% rule +8.1/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * HIGHEST AND BEST DUE BY SATURDAY, MAY 2 AT 5 PM * * * Welcome to 412 S Fairview! This spacious 4-bedroom, 2-bath home offers 1,408 square feet of living space and is a fantastic opportunity for first-time homebuyers or savvy investors looking to add to their portfolio. With several major updates already completedAaaincluding updated electrical, a newer furnace and central A/C, and newer kitchen appliancesAaayou can move in or rent out with confidence. Inside, you'll find a functional layout with generous living space and room to grow. Ideally located near downtown Lansing, you'll enjoy close proximity to the Capitol, Jackson Field (home of the Lansing Lugnuts), and the shopping and dining options at Frandor Shopping Center. Easy access to major roadways makes commuting a breezeWhether you're looking for a place to call home or a solid investment property, this one checks the boxes!

Key facts

• Updated electrical
• Newer furnace
• Central a/c

Tags

• UPDATED ELECTRICAL
• NEWER FURNACE
• CENTRAL A/C
• NEWER KITCHEN APPLIANCES
• CLOSE PROXIMITY TO THE CAPITOL
• EASY ACCESS TO MAJOR ROADWAYS

Property features AI

Exterior

• Parking: No garage; Parking lot; Shared driveway
• Utilities: 100 amp electric service; Public sewer; Water connected; Sewer connected; Natural gas available; Cable available
• Home design: Two-story home; Built in 1917; Located in the Leslie Park subdivision
• Construction: Aluminum siding
• Exterior features: Deck; Front porch; Shingle roof; Paved road frontage on a city street

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: 4 bedrooms (includes Primary Bedroom)
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Laminate counters; Full basement
• Laundry & utility: Washer; Dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 (+7.0%/yr); 98 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 35% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 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.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1917 — 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: 1.31% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.72%
• DSCR: 1.57
• GRM: 6.4

CMA / ARV

• ARV (median comp): $136,061
• List price: $120,000
• Delta: -11.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 S Fairview Ave	0.00mi	4/2.0	1,408 (0%)	0mo	$115,000	$82	98
134 S Fairview Ave	0.21mi	3/1.5 (-1)	1,428 (+1%)	1mo	$175,900	$123	82
222 S Clemens Ave	0.16mi	4/2.0	1,496 (+6%)	3mo	$142,500	$95	78
512 Shepard St	0.26mi	4/1.0	1,452 (+3%)	4mo	$105,000	$72	78
622 S Foster Ave	0.27mi	3/1.0 (-1)	1,433 (+2%)	2mo	$85,000	$59	76
245 Elvin Ct	0.50mi	4/2.0	1,424 (+1%)	0mo	$185,500	$130	73
637 S Clemens Ave	0.23mi	3/1.0 (-1)	1,340 (-5%)	3mo	$37,000	$28	72
413 N Clemens Ave	0.58mi	4/2.0	1,408 (0%)	4mo	$155,000	$110	68
519 N Clemens Ave	0.67mi	3/1.5 (-1)	1,459 (+4%)	3mo	$182,900	$125	55
925 S Holmes St	0.66mi	3/2.5 (-1)	1,478 (+5%)	2mo	$139,900	$95	51
414 N Clemens Ave	0.58mi	3/1.0 (-1)	1,222 (-13%)	3mo	$153,000	$125	41
1116 Hickory St	0.70mi	3/1.5 (-1)	1,232 (-12%)	2mo	$70,612	$57	39

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: 7.2%
• Equity multiple: 1.29×
• Total profit: $9,879
• Equity at exit: $17,892

10-year hold

• IRR: 19.9%
• Equity multiple: 3.01×
• Total profit: $67,418
• Equity at exit: $10,375

Cash invested: $33,600 (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 48912

• Rents YoY: 7.0%
• Active inventory: 98
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,567 high
• Mortgage (P&I): −$629
• Tax from tax record: −$202 /mo · $2,427/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $356

Break-even live

Break-even rent $1,116

Max offer price $120,000

Occupancy floor 72%

Sensitivity live

Price	-10% $424	-5% $390	+0% $356	+5% $322	+10% $288
Rent	-10% $232	-5% $294	+0% $356	+5% $418	+10% $480
Rate	-1.0pp $416	-0.5pp $387	base $356	+0.5pp $325	+1.0pp $293

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
329 S Clemens Ave Lansing, MI	3.0	1.0	1194	$1,400	$1.17	21d	1	0.07mi
910 Dakin St Lansing, MI	3.0	1.0	908	$1,295	$1.43	44d	1	0.54mi
414 N Hayford Ave Lansing, MI	3.0	1.0	990	$1,425	$1.44	44d	1	0.63mi
208 S Bingham St Lansing, MI	4.0	1.0	1020	$1,500	$1.47	14d	1	0.77mi
1027 Climax St Lansing, MI	3.0	1.5	1298	$1,550	$1.19	14d	1	0.81mi
921 Linden Grove Ave Lansing, MI	3.0	1.0	1694	$1,499	$0.88	44d	1	1.10mi
1102 Clark St Lansing, MI	3.0	1.0	1232	$1,550	$1.26	21d	1	1.26mi
1228 N Fairview Ave Lansing, MI	3.0	2.0	1100	$1,700	$1.55	44d	1	1.28mi
605 S Grand Ave Unit 2 Lansing, MI	4.0	1.0	1200	$1,100	$0.92	44d	1	1.45mi

Listing history 10 events

1. 2026-05-30
   status $120,000 Pending 30 DOM
2. 2026-05-04
   historical Active Under Contract 905-char remark

   Show marketing remark (905 chars)

   * * * HIGHEST AND BEST DUE BY SATURDAY, MAY 2 AT 5 PM * * * Welcome to 412 S Fairview! This spacious 4-bedroom, 2-bath home offers 1,408 square feet of living space and is a fantastic opportunity for first-time homebuyers or savvy investors looking to add to their portfolio. With several major updates already completedAaaincluding updated electrical, a newer furnace and central A/C, and newer kitchen appliancesAaayou can move in or rent out with confidence. Inside, you'll find a functional layout with generous living space and room to grow. Ideally located near downtown Lansing, you'll enjoy close proximity to the Capitol, Jackson Field (home of the Lansing Lugnuts), and the shopping and dining options at Frandor Shopping Center. Easy access to major roadways makes commuting a breezeWhether you're looking for a place to call home or a solid investment property, this one checks the boxes!

3. 2026-05-04
   historical Active Under Contract 985-char remark

   Show marketing remark (905 chars)

   * * * HIGHEST AND BEST DUE BY SATURDAY, MAY 2 AT 5 PM * * * Welcome to 412 S Fairview! This spacious 4-bedroom, 2-bath home offers 1,408 square feet of living space and is a fantastic opportunity for first-time homebuyers or savvy investors looking to add to their portfolio. With several major updates already completedAaaincluding updated electrical, a newer furnace and central A/C, and newer kitchen appliancesAaayou can move in or rent out with confidence. Inside, you'll find a functional layout with generous living space and room to grow. Ideally located near downtown Lansing, you'll enjoy close proximity to the Capitol, Jackson Field (home of the Lansing Lugnuts), and the shopping and dining options at Frandor Shopping Center. Easy access to major roadways makes commuting a breezeWhether you're looking for a place to call home or a solid investment property, this one checks the boxes!

4. 2026-04-29
   listed $120,000 Active 905-char remark

   Show marketing remark (905 chars)

   * * * HIGHEST AND BEST DUE BY SATURDAY, MAY 2 AT 5 PM * * * Welcome to 412 S Fairview! This spacious 4-bedroom, 2-bath home offers 1,408 square feet of living space and is a fantastic opportunity for first-time homebuyers or savvy investors looking to add to their portfolio. With several major updates already completedAaaincluding updated electrical, a newer furnace and central A/C, and newer kitchen appliancesAaayou can move in or rent out with confidence. Inside, you'll find a functional layout with generous living space and room to grow. Ideally located near downtown Lansing, you'll enjoy close proximity to the Capitol, Jackson Field (home of the Lansing Lugnuts), and the shopping and dining options at Frandor Shopping Center. Easy access to major roadways makes commuting a breezeWhether you're looking for a place to call home or a solid investment property, this one checks the boxes!

5. 2026-04-29
   listed $120,000 Active 985-char remark

   Show marketing remark (905 chars)

   * * * HIGHEST AND BEST DUE BY SATURDAY, MAY 2 AT 5 PM * * * Welcome to 412 S Fairview! This spacious 4-bedroom, 2-bath home offers 1,408 square feet of living space and is a fantastic opportunity for first-time homebuyers or savvy investors looking to add to their portfolio. With several major updates already completedAaaincluding updated electrical, a newer furnace and central A/C, and newer kitchen appliancesAaayou can move in or rent out with confidence. Inside, you'll find a functional layout with generous living space and room to grow. Ideally located near downtown Lansing, you'll enjoy close proximity to the Capitol, Jackson Field (home of the Lansing Lugnuts), and the shopping and dining options at Frandor Shopping Center. Easy access to major roadways makes commuting a breezeWhether you're looking for a place to call home or a solid investment property, this one checks the boxes!

6. 2025-04-30
   soldstatus $62,000
7. 2025-04-28
   soldstatus $110,000

   Show marketing remark (182 chars)

   THIS WAS A NON-LISTGreat investment home or single family property. Close to downtown Lansing, near ball park, Capitol, LCC & Frandor Shopping. CATA main terminal near by also.

8. 2025-04-28
   soldstatus $110,000

   Show marketing remark (182 chars)

   THIS WAS A NON-LISTGreat investment home or single family property. Close to downtown Lansing, near ball park, Capitol, LCC & Frandor Shopping. CATA main terminal near by also.

9. 2025-04-28
   listed $110,000

   Show marketing remark (182 chars)

   THIS WAS A NON-LISTGreat investment home or single family property. Close to downtown Lansing, near ball park, Capitol, LCC & Frandor Shopping. CATA main terminal near by also.

10. 2025-04-28
    listed $110,000

    Show marketing remark (182 chars)

    THIS WAS A NON-LISTGreat investment home or single family property. Close to downtown Lansing, near ball park, Capitol, LCC & Frandor Shopping. CATA main terminal near by also.

ⓘ 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: $2,427 · $202/mo
• Projected year-2 tax: $2,427 · $202/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: $18,798
• − Mortgage interest: −$6,722
• − Property taxes: −$2,427
• − Insurance: −$600
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − Depreciation: −$3,491
• Taxable income: $2,551
• Est. tax owed @ 24.0%: −$612
• After-tax cash flow: $3,660/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

+4.5% since first listed

13 events — show timeline

• 2026-06-09 Sold (MLS) $115,000 Greater Lansing AoR
• 2026-06-09 Sold (MLS) $115,000 REALCOMP
• 2026-05-29 Pending — REALCOMP
• 2026-05-29 Pending — Greater Lansing AoR
• 2026-05-04 Contingent — REALCOMP
• 2026-05-04 Contingent — Greater Lansing AoR
• 2026-04-29 Listed $120,000 REALCOMP
• 2026-04-29 Listed $120,000 Greater Lansing AoR
• 2025-04-30 Sold (Public Records) $62,000 Public Records
• 2025-04-28 Listed $110,000 Greater Lansing AoR
• 2025-04-28 Listed $110,000 REALCOMP
• 2025-04-28 Sold (MLS) $110,000 Greater Lansing AoR
• 2025-04-28 Sold (MLS) $110,000 REALCOMP

Property tax history

+1.3%/yr

Latest (2025): $2,427 · -18.5% YoY. Source: county tax records.