704 Kenwood Ave · Lansing, MI 48910

$111,900

3 bd · 1.0 ba · 907 sqft · SingleFamily public records · 17 Days on market

Built 1928 5,227 sqft lot Est $122k · 8% under

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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 +20.0/30.0
• ARV discount +11.1/15.0
• DSCR +6.3/10.0
• 1% rule +6.1/10.0
• 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

Meticulous comes to mind when you walk through this 2-3 bed 1 bath. Located on a Secluded short dead end road in a GREAT neighborhood. Sit back and enjoy the newly built 12x10 deck. This Move In Ready home is just waiting for you to make it your Home. Appliances included. Many updates were completed in 97. Current improvement are flooring paint and plumbing. Motivated seller!! Call today!!

Key facts

• 5,227 sq ft lot
• Garage
• Built 1928

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $110k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 6.0% in Lansing — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 $774 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask is 19% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $87k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,221 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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: 1.11% ✓
• Cap rate: 7.77%
• Cash-on-cash: 5.26%
• DSCR: 1.23
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $121,538
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1718 Donora St	0.29mi	3/1.0	900 (-1%)	4mo	$39,900	$44	82
713 E Greenlawn Ave	0.31mi	3/1.0	939 (+4%)	0mo	$77,500	$83	79
512 Woodrow Ave	0.24mi	2/1.0 (-1)	912 (+1%)	5mo	$104,500	$115	79
555 Tisdale Ave	0.25mi	2/1.0 (-1)	879 (-3%)	2mo	$166,500	$189	76
841 Baker St	0.48mi	3/1.0	960 (+6%)	0mo	$57,000	$59	67
2305 Forest Ave	0.48mi	2/1.0 (-1)	888 (-2%)	4mo	$142,200	$160	66
613 Tisdale Ave	0.20mi	2/1.0 (-1)	800 (-12%)	1mo	$107,250	$134	65
619 E Mount Hope Ave	0.16mi	3/2.0	1,040 (+15%)	5mo	$75,000	$72	60
1703 Linval St	0.29mi	2/2.5 (-1)	814 (-10%)	5mo	$117,000	$144	54
531 Torrance Ct	0.44mi	2/1.0 (-1)	780 (-14%)	4mo	$80,000	$103	48
546 Hamilton Ave	0.63mi	2/1.0 (-1)	1,011 (+12%)	0mo	$135,900	$134	46
2515 Harding Ave	0.55mi	2/1.0 (-1)	776 (-14%)	0mo	$136,500	$176	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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.77×
• Total profit: $-7,155
• Equity at exit: $16,685

10-year hold

• IRR: 5.7%
• Equity multiple: 1.46×
• Total profit: $14,484
• Equity at exit: $9,675

Cash invested: $31,332 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,237 high
• Mortgage (P&I): −$587
• Tax from tax record: −$207 /mo · $2,481/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $137

Break-even live

Break-even rent $1,064

Max offer price $111,900

Occupancy floor 84%

Sensitivity live

Price	-10% $201	-5% $169	+0% $137	+5% $106	+10% $74
Rent	-10% $40	-5% $89	+0% $137	+5% $186	+10% $235
Rate	-1.0pp $194	-0.5pp $166	base $137	+0.5pp $108	+1.0pp $79

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: $27,975
• Closing costs: $3,357
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1016 E Greenlawn Ave Unit 3 Lansing, MI	2.0	1.0	750	$925	$1.23	14d	1	0.46mi
401 E Willard Ave Unit 19 Lansing, MI	2.0	1.0	775	$1,000	$1.29	44d	1	0.53mi
1828 Davis Ave Lansing, MI	2.0	1.0	700	$1,150	$1.64	44d	1	0.75mi
1223 Bensch St Lansing, MI	3.0	1.0	850	$1,200	$1.41	21d	1	0.91mi
430 Dunlap St Lansing, MI	2.0	1.0	940	$1,450	$1.54	21d	1	0.93mi
3515 Bergman Ave Lansing, MI	2.0	1.0	640	$1,195	$1.87	21d	1	1.02mi
3031 S Washington Ave Lansing, MI	1.0–2.0	1.0	725	$1,100	$1.52	44d	1	1.03mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	14d	1	1.07mi
3716 Homewood Ave Lansing, MI	2.0	1.0	692	$1,300	$1.88	21d	1	1.10mi
1100 Malcolm X St Unit B Lansing, MI	2.0	1.0	979	$1,050	$1.07	14d	1	1.11mi
1913 Stirling Ave Unit 1 Lansing, MI	2.0	2.0	1100	$1,200	$1.09	44d	1	1.13mi
3518 Davidson Dr Lansing, MI	2.0	2.0	850	$1,115	$1.31	44d	3	1.13mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	44d	1	1.17mi
313 E Saint Joseph St Lansing, MI	2.0	1.0	475	$1,150	$2.42	14d	7	1.17mi
910 Dakin St Lansing, MI	3.0	1.0	908	$1,295	$1.43	44d	1	1.21mi
805 Bement St Unit Hosmer 507 Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	1.26mi
507 S Hosmer St Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	1.28mi
915 Loa St Lansing, MI	2.0	1.0	674	$999	$1.48	44d	1	1.29mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	44d	1	1.43mi

Listing history 23 events

1. 2026-06-18
   days on market $111,900 Active 17 DOM
2. 2026-06-18
   price $111,900 Active 16 DOM
3. 2026-06-17
   days on market $114,900 Active 16 DOM
4. 2026-06-16
   days on market $114,900 Active 15 DOM
5. 2026-06-15
   days on market $114,900 Active 14 DOM
6. 2026-06-14
   days on market $114,900 Active 12 DOM
7. 2026-06-13
   days on market $114,900 Active 11 DOM
8. 2026-06-10
   days on market $114,900 Active 9 DOM
9. 2026-06-09
   days on market $114,900 Active 8 DOM
10. 2026-06-08
    days on market $114,900 Active 7 DOM
11. 2026-06-07
    days on market $114,900 Active 6 DOM
12. 2026-06-05
    days on market $114,900 Active 3 DOM
13. 2026-06-03
    days on market $114,900 Active 2 DOM
14. 2026-06-01
    statusdays on market $114,900 Active 1 DOM
15. 2026-05-31
    days on market $114,900 Coming Soon 3 DOM
16. 2026-05-30
    days on market $114,900 Coming Soon 2 DOM
17. 2026-05-28
    historical $114,900
18. 2022-11-21
    soldstatus $87,000
19. 2022-11-14
    soldstatus $87,000 Closed 393-char remark

    Show marketing remark (393 chars)

    Meticulous comes to mind when you walk through this 2-3 bed 1 bath. Located on a Secluded short dead end road in a GREAT neighborhood. Sit back and enjoy the newly built 12x10 deck. This Move In Ready home is just waiting for you to make it your Home. Appliances included. Many updates were completed in 97. Current improvement are flooring paint and plumbing. Motivated seller!! Call today!!

20. 2022-11-14
    soldstatus $87,000

    Show marketing remark (393 chars)

    Meticulous comes to mind when you walk through this 2-3 bed 1 bath. Located on a Secluded short dead end road in a GREAT neighborhood. Sit back and enjoy the newly built 12x10 deck. This Move In Ready home is just waiting for you to make it your Home. Appliances included. Many updates were completed in 97. Current improvement are flooring paint and plumbing. Motivated seller!! Call today!!

21. 2022-10-03
    price $94,000 393-char remark

    Show marketing remark (393 chars)

    Meticulous comes to mind when you walk through this 2-3 bed 1 bath. Located on a Secluded short dead end road in a GREAT neighborhood. Sit back and enjoy the newly built 12x10 deck. This Move In Ready home is just waiting for you to make it your Home. Appliances included. Many updates were completed in 97. Current improvement are flooring paint and plumbing. Motivated seller!! Call today!!

22. 2022-09-08
    listed $99,900 Active 393-char remark

    Show marketing remark (393 chars)

    Meticulous comes to mind when you walk through this 2-3 bed 1 bath. Located on a Secluded short dead end road in a GREAT neighborhood. Sit back and enjoy the newly built 12x10 deck. This Move In Ready home is just waiting for you to make it your Home. Appliances included. Many updates were completed in 97. Current improvement are flooring paint and plumbing. Motivated seller!! Call today!!

23. 2022-09-08
    listed $94,000

    Show marketing remark (393 chars)

    Meticulous comes to mind when you walk through this 2-3 bed 1 bath. Located on a Secluded short dead end road in a GREAT neighborhood. Sit back and enjoy the newly built 12x10 deck. This Move In Ready home is just waiting for you to make it your Home. Appliances included. Many updates were completed in 97. Current improvement are flooring paint and plumbing. Motivated seller!! Call today!!

ⓘ 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: $2,481 · $207/mo
• Projected year-2 tax: $2,481 · $207/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $14,850
• − Mortgage interest: −$6,268
• − Property taxes: −$2,481
• − Insurance: −$560
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$3,255
• Taxable loss: −$90
• Est. tax savings @ 24.0%: +$22
• After-tax cash flow: $1,671/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

+15.0% since first listed

7 events — show timeline

• 2026-05-28 Coming Soon $114,900 Greater Lansing AoR
• 2022-11-21 Sold (Public Records) $87,000 Public Records
• 2022-11-14 Sold (MLS) $87,000 REALCOMP
• 2022-11-14 Sold (MLS) $87,000 Greater Lansing AoR
• 2022-10-03 Price Changed $94,000 Greater Lansing AoR
• 2022-09-08 Listed $94,000 REALCOMP
• 2022-09-08 Listed $99,900 Greater Lansing AoR

Property tax history

+7.5%/yr

Latest (2025): $2,481 · +3.0% YoY. Source: county tax records.