5632 Hughes Rd · Lansing, MI 48911

$55,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 14 Days on market

Built 1941 0.46 ac lot ↓ 18% since listing

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

Listing remarks MLS

Investor special with strong value-add potential in Lansing area! This ranch-style home sits on a spacious lot , functional layout, and great outdoor space make this a solid rehab or rental opportunity. Conveniently located near shopping, and major roadways. Sold as-is.

Key facts

• Major roadways
• Spacious lot
• Functional layout

Tags

• SPACIOUS LOT
• FUNCTIONAL LAYOUT
• GREAT OUTDOOR SPACE
• MAJOR ROADWAYS

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry
• Construction: Vinyl siding; Block foundation; Built on one level
• Exterior features: Lot measures approximately 110.7 x 181; Road frontage type: Other

Interior

• Bedrooms: 2 rooms total (includes bedrooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced-air heating; No central cooling
• Interior features: Unfinished basement; Accessible entrance; Accessible bedroom

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $469 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 16.5% 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, 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 (+9.9%/yr); 143 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $380 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 + 8.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 16y ago; this cycle's ask has dropped $9k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1941 — 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: 1.96% ✓
• Cap rate: 16.53%
• Cash-on-cash: 36.58%
• DSCR: 2.63
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $127,296
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2045 Moffitt St	0.30mi	2/1.0	876 (+7%)	6mo	$145,000	$166	69
5731 Pheasant Ave	0.30mi	2/1.0	768 (-6%)	8mo	$135,000	$176	69
1406 Weymouth Ct	0.34mi	2/1.0	888 (+9%)	2mo	$150,000	$169	68
4908 Hughes Rd	0.65mi	2/1.0	816 (0%)	3mo	$90,000	$110	67
5641 Ashley Dr	0.41mi	2/1.0	888 (+9%)	2mo	$165,000	$186	65
4927 Starr Ave	0.63mi	3/1.0 (+1)	812 (-0%)	1mo	$98,500	$121	64
6062 Valencia Blvd	0.42mi	2/1.0	912 (+12%)	0mo	$142,000	$156	61
6235 Yunker St	0.68mi	2/1.0	757 (-7%)	3mo	$88,200	$117	54
1808 W Jolly Rd	0.54mi	2/1.0	914 (+12%)	3mo	$75,000	$82	52
6000 Pheasant Ave	0.42mi	2/1.0	720 (-12%)	11mo	$110,000	$153	51
933 W Northrup St	0.61mi	2/1.0	744 (-9%)	11mo	$130,000	$175	48
1119 W Miller Rd	0.65mi	1/1.0 (-1)	744 (-9%)	6mo	$92,500	$124	45

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 38.0%
• Equity multiple: 2.73×
• Total profit: $26,683
• Equity at exit: $8,201

10-year hold

• IRR: 46.9%
• Equity multiple: 6.69×
• Total profit: $87,662
• Equity at exit: $4,755

Cash invested: $15,400 (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 48911

• Rents YoY: 9.9%
• Active inventory: 143
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,075 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $469

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 51%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2420 Radford Rd Lansing, MI	2.0	1.0	768	$1,200	$1.56	14d	1	0.41mi
2010 Georgetown Blvd Lansing, MI	1.0–2.0	1.0	836	$1,188	$1.42	13d	8	0.70mi
1115 Dorchester Cir Lansing, MI	2.0	1.0	850	$855	$1.01	14d	5	0.87mi
4318 Pleasant Grove Rd Lansing, MI	1.0–3.0	1.0–2.0	722	$1,125	$1.56	13d	1	0.96mi
2612 Fielding Dr Lansing, MI	2.0	1.0	1100	$1,095	$1.00	44d	1	1.13mi
4125 Ingham St Lansing, MI	3.0	1.0	933	$1,300	$1.39	44d	1	1.14mi
3530 W Jolly Rd Unit 6 Lansing, MI	2.0	1.0	1049	$1,100	$1.05	21d	1	1.15mi
1001 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$850	$1.10	14d	4	1.18mi
911 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$1,000	$1.29	21d	1	1.20mi
2823 Hillcrest St Lansing, MI	3.0	1.0	925	$1,245	$1.35	21d	1	1.31mi
2114 Ferrol St Unit 1 Lansing, MI	2.0	1.0	700	$950	$1.36	21d	1	1.31mi
2920 Hillcrest St Lansing, MI	3.0	1.0	1040	$1,225	$1.18	44d	1	1.36mi
3606 Pleasant Grove Rd Lansing, MI	1.0–2.0	1.0	812	$1,100	$1.35	44d	1	1.37mi
3501 Simken Dr Lansing, MI	2.0	1.0	900	$950	$1.06	44d	1	1.43mi
4030 Hartford Rd Lansing, MI	1.0–2.0	1.0	640	$1,094	$1.71	13d	42	1.45mi
2009 W Holmes Rd Unit 11 Lansing, MI	2.0	1.0	800	$925	$1.16	14d	1	1.46mi

Listing history 12 events

1. 2026-06-16
   statusdays on market $55,000 Pending 14 DOM
2. 2026-06-15
   days on market $55,000 Active 13 DOM
3. 2026-06-14
   days on market $55,000 Active 11 DOM
4. 2026-06-13
   days on market $55,000 Active 10 DOM
5. 2026-06-10
   days on market $55,000 Active 8 DOM
6. 2026-06-09
   days on market $55,000 Active 7 DOM
7. 2026-06-09
   price $55,000 Active 6 DOM
8. 2026-06-08
   days on market $63,900 Active 6 DOM
9. 2026-06-07
   days on market $63,900 Active 5 DOM
10. 2026-06-05
    days on market $63,900 Active 2 DOM
11. 2026-06-03
    remarks 270-char remark
12. 2026-06-03
    listed $63,900 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $12,904
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$1,600
• Taxable income: $5,058
• Est. tax owed @ 24.0%: −$1,214
• After-tax cash flow: $4,419/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): 39,876
• Household income: $56,631
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 2255.0

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 0.70)
• Race & ethnicity: White 46% Black 26% Hispanic / Latino 14% Two or more races 10% Asian 8%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 3% Slovak 2% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam, Philippines
• Languages at home: 83% English-only · Spanish 5% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -179.62%
• Current HPI: 176.0632
• Rent YoY: ▲ 9.90%
• 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

-18.1% since first listed

25 events — show timeline

• 2026-06-02 Listed $63,900 MiRealSource-MiMLS
• 2026-06-02 Listed $63,900 REALCOMP
• 2026-04-24 Listing Removed — MiRealSource-MiMLS
• 2026-04-21 Price Changed $59,000 MiRealSource-MiMLS
• 2026-04-20 Price Changed $59,000 REALCOMP
• 2026-04-20 Price Changed $59,000 SW Michigan MLS
• 2026-04-09 Price Changed $69,000 MiRealSource-MiMLS
• 2026-04-08 Price Changed $69,000 REALCOMP
• 2026-04-08 Price Changed $69,000 SW Michigan MLS
• 2026-04-02 Listed $85,000 REALCOMP
• 2026-04-02 Listed $85,000 MiRealSource-MiMLS
• 2016-08-31 Listing Removed — REALCOMP
• 2016-08-31 Listing Removed — Greater Lansing AoR
• 2016-04-30 Listing Removed — REALCOMP
• 2016-04-29 Listing Removed — Greater Lansing AoR
• 2016-04-28 Listed $58,000 REALCOMP
• 2016-04-28 Listed $58,000 Greater Lansing AoR
• 2015-10-29 Listed $62,000 Greater Lansing AoR
• 2015-10-29 Listed $62,000 REALCOMP
• 2014-01-09 Listing Removed — Greater Lansing AoR
• 2013-07-09 Listed $69,900 Greater Lansing AoR
• 2012-12-16 Listing Removed — Greater Lansing AoR
• 2010-12-22 Listing Removed — Greater Lansing AoR
• 2010-12-21 Listed $73,600 Greater Lansing AoR
• 2010-06-22 Listed $78,000 Greater Lansing AoR

Property tax history

+42.7%/yr

Latest (2025): $4,685 · +125.0% YoY. Source: county tax records.