1213 W Ottawa St · Lansing, MI 48915

$35,000

4 bd · 1.0 ba · 1,202 sqft · SingleFamily public records · 3 Days on market

Built 1885 7,405 sqft lot ↓ 44% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Who's ready for a flip house? The current owner planned this to be a 4 bedroom 2 full bath home, he puton a roof, added gutters and replaced the electrical panel, the rest is up to you! Time for you to make it your own and take home the profits! This location offers fantastic convenience to highways, restaurants, shopping, LCC and MSU, and is very close to all Downtown Lansing has to offer. Lots of renovation going on in the area. You won't want to miss out on this opportunity to cash in!

Key facts

• Roof
• Gutters
• Lots of renovation

Tags

• ROOF
• GUTTERS
• ELECTRICAL PANEL
• CONVENIENCE TO HIGHWAYS
• CLOSE TO DOWNTOWN LANSING
• LOTS OF RENOVATION

Property features AI

Finance

• Financial info: Current use: Investment

Exterior

• Parking: Driveway; No attached garage
• Utilities: Public sewer; Water connected; Sewer connected; Natural gas connected; Electricity connected
• Home design: Traditional style; Two levels; City street frontage; Built in 1885
• Construction: Wood siding; Shingle roof; Built 1885
• Exterior features: Rain gutters; Back yard; Front yard; A few trees

Interior

• Kitchen: Unfinished kitchen
• Bedrooms: Primary bedroom (unfinished); Bedroom 2 (unfinished); Bedroom 3 (unfinished); Bedroom 4 (unfinished)
• Flooring: No flooring information listed
• Bathrooms: No full bathrooms listed; No half bathrooms listed
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished living spaces; Partial basement
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $969 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Cap rate 39.5% 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: 67 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 34% 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 $242 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1885 — 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. 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?
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: 4.38% ✓
• Cap rate: 39.53%
• Cash-on-cash: 118.71%
• DSCR: 6.28
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $156,260
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1128 W Michigan Ave	0.05mi	4/2.0	1,200 (-0%)	4mo	$160,000	$133	90
1403 W Ottawa St	0.12mi	4/2.0	1,260 (+5%)	3mo	$163,500	$130	80
502 N Butler Blvd	0.39mi	3/1.0 (-1)	1,176 (-2%)	1mo	$144,000	$122	72
1309 W Lenawee St	0.42mi	3/1.0 (-1)	1,232 (+2%)	5mo	$145,000	$118	67
1217 W Shiawassee St	0.18mi	3/1.5 (-1)	1,316 (+10%)	3mo	$147,000	$112	66
1629 N Genesee Dr	0.49mi	3/2.0 (-1)	1,176 (-2%)	1mo	$213,800	$182	64
920 Clyde St	0.68mi	3/1.5 (-1)	1,204 (+0%)	2mo	$170,000	$141	60
1411 W Washtenaw St	0.27mi	4/2.0	1,040 (-14%)	2mo	$139,900	$135	59
425 N Sycamore St	0.46mi	3/2.0 (-1)	1,109 (-8%)	2mo	$113,000	$102	55
1313 S Genesee Dr	0.27mi	3/2.0 (-1)	1,351 (+12%)	4mo	$218,000	$161	54
919 Princeton Ave	0.69mi	3/1.5 (-1)	1,119 (-7%)	2mo	$60,000	$54	48
905 N Sycamore St	0.74mi	3/1.5 (-1)	1,368 (+14%)	0mo	$130,000	$95	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.72×
• Total profit: $56,099
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 14.11×
• Total profit: $128,454
• Equity at exit: $3,026

Cash invested: $9,800 (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 48915

• Active inventory: 67
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,533 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $969

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 32%

Sensitivity live

Price	-10% $994	-5% $982	+0% $969	+5% $957	+10% $945
Rent	-10% $848	-5% $909	+0% $969	+5% $1,030	+10% $1,091
Rate	-1.0pp $987	-0.5pp $978	base $969	+0.5pp $960	+1.0pp $951

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1330 W Hillsdale St Lansing, MI	3.0	1.0	1008	$1,550	$1.54	45d	1	0.53mi
712 N Sycamore St Lansing, MI	3.0	1.0	1100	$1,650	$1.50	23d	1	0.59mi
919 Princeton Ave Lansing, MI	3.0	1.5	1119	$1,475	$1.32	23d	1	0.66mi
433 Seymour Ave Unit 3 Lansing, MI	3.0	1.0	1250	$1,395	$1.12	45d	1	0.72mi
401 S Washington Sq Unit 201 Lansing, MI	3.0	1.0	1254	$1,560	$1.24	45d	1	0.95mi
1012 Ontario St Lansing, MI	4.0	2.0	1320	$1,600	$1.21	23d	1	1.06mi
400 N Catherine St Lansing, MI	3.0	1.0	760	$1,395	$1.84	15d	1	1.07mi
605 S Grand Ave Unit 2 Lansing, MI	4.0	1.0	1200	$1,100	$0.92	45d	1	1.10mi

Listing history 12 events

1. 2026-06-02
   status $35,000 Pending 3 DOM
2. 2026-06-01
   days on market $35,000 Active 3 DOM
3. 2026-05-31
   days on market $35,000 Active 2 DOM
4. 2026-05-29
   listed $35,000 Active

   Show marketing remark (493 chars)

   Who's ready for a flip house? The current owner planned this to be a 4 bedroom 2 full bath home, he puton a roof, added gutters and replaced the electrical panel, the rest is up to you! Time for you to make it your own and take home the profits! This location offers fantastic convenience to highways, restaurants, shopping, LCC and MSU, and is very close to all Downtown Lansing has to offer. Lots of renovation going on in the area. You won't want to miss out on this opportunity to cash in!

5. 2026-05-29
   listed $35,000 Active 493-char remark

   Show marketing remark (493 chars)

   Who's ready for a flip house? The current owner planned this to be a 4 bedroom 2 full bath home, he puton a roof, added gutters and replaced the electrical panel, the rest is up to you! Time for you to make it your own and take home the profits! This location offers fantastic convenience to highways, restaurants, shopping, LCC and MSU, and is very close to all Downtown Lansing has to offer. Lots of renovation going on in the area. You won't want to miss out on this opportunity to cash in!

6. 2023-05-09
   soldstatus $46,000
7. 2023-04-28
   status Pending 235-char remark

   Show marketing remark (235 chars)

   4-bedroom, 1-bathroom house in downtown Lansing offers an excellent investment opportunity or fixer-upper project. With ample space and a great location just minutes from the city's top attractions, this property has lots of potential!

8. 2023-04-28
   soldstatus $46,000 Closed 235-char remark

   Show marketing remark (235 chars)

   4-bedroom, 1-bathroom house in downtown Lansing offers an excellent investment opportunity or fixer-upper project. With ample space and a great location just minutes from the city's top attractions, this property has lots of potential!

9. 2023-04-28
   soldstatus $46,000

   Show marketing remark (235 chars)

   4-bedroom, 1-bathroom house in downtown Lansing offers an excellent investment opportunity or fixer-upper project. With ample space and a great location just minutes from the city's top attractions, this property has lots of potential!

10. 2023-03-07
    price $52,000 235-char remark

    Show marketing remark (235 chars)

    4-bedroom, 1-bathroom house in downtown Lansing offers an excellent investment opportunity or fixer-upper project. With ample space and a great location just minutes from the city's top attractions, this property has lots of potential!

11. 2023-02-21
    listed $62,000 Active 235-char remark

    Show marketing remark (235 chars)

    4-bedroom, 1-bathroom house in downtown Lansing offers an excellent investment opportunity or fixer-upper project. With ample space and a great location just minutes from the city's top attractions, this property has lots of potential!

12. 2023-02-21
    listed $52,000

    Show marketing remark (235 chars)

    4-bedroom, 1-bathroom house in downtown Lansing offers an excellent investment opportunity or fixer-upper project. With ample space and a great location just minutes from the city's top attractions, this property has lots of potential!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $18,401
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,472
• − Management: −$1,472
• − Depreciation: −$1,018
• Taxable income: $11,778
• Est. tax owed @ 24.0%: −$2,827
• After-tax cash flow: $8,807/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): 9,428
• Household income: $54,465
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 307.0

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 0.64)
• Race & ethnicity: White 54% Black 24% Two or more races 13% Hispanic / Latino 13%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 7% Lithuanian 2% Iranian 2%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 90% English-only · Spanish 7% Other Asian/Pacific 1% German/W. Germanic 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: ▼ -129.90%
• Current HPI: 177.0906
• 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

-43.5% since first listed

9 events — show timeline

• 2026-05-29 Listed $35,000 REALCOMP
• 2026-05-29 Listed $35,000 Greater Lansing AoR
• 2023-05-09 Sold (Public Records) $46,000 Public Records
• 2023-04-28 Pending — Greater Lansing AoR
• 2023-04-28 Sold (MLS) $46,000 REALCOMP
• 2023-04-28 Sold (MLS) $46,000 Greater Lansing AoR
• 2023-03-07 Price Changed $52,000 Greater Lansing AoR
• 2023-02-21 Listed $52,000 REALCOMP
• 2023-02-21 Listed $62,000 Greater Lansing AoR

Property tax history

+14.7%/yr

Latest (2025): $3,853 · +8.7% YoY. Source: county tax records.