2120 La Mer Ln · Meridian, MI 48840

$149,900

2 bd · 1.0 ba · 1,368 sqft · Townhouse public records · 133 Days on market

Built 1979 $110/sqft · 8% above area Est $171k · 12% under $266/mo HOA · 18% of rent

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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).

• ARV discount +13.0/15.0
• Cash flow +7.4/30.0
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this great ranch-style condo in Haslett. The floor plan is very open, featuring a spacious step-down living room filled with abundant natural light. The living room walks out through a sliding door to the deck. Adjacent to the kitchen, the dining area offers a perfect spot to enjoy meals. The kitchen is very functional, and all appliances are included with the condo. Two generously sized bedrooms share a full bathroom, offering a blend of comfort and convenience. The finished basement includes a recreation area, a wet bar, laundry, and plenty of storage space. New flooring has been installed on both the upper and lower levels in recent years. The property may be used as a homestead or rental and currently has a rental license. The community offers many amenities, including a clubhouse, pool, and golf course. Conveniently located close to the lake, highways, restaurants, shopping, and much more!

Key facts

• Sliding door to deck
• Finished basement
• Ranch style condo

Tags

• RANCH STYLE CONDO
• STEP DOWN LIVING ROOM
• ABUNDANT NATURAL LIGHT
• SLIDING DOOR TO DECK
• FINISHED BASEMENT
• RECREATION AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $-192 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (22.6% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $116k (22.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Haslett Public Schools (suburban): math 55% / reading 63% proficiency, ranked #44 of 540 in MI (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 73 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $1k 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.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $13k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $150k implies a 86% gain — meaningful room to come down on a strong offer.

Recommended offer $116,061 (22.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.00% ✓
• Cap rate: 4.76%
• Cash-on-cash: -5.48%
• DSCR: 0.76
• GRM: 8.3

CMA / ARV

• ARV (median comp): $170,633
• List price: $149,900
• Delta: -12.15%
• 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
2061 Lac Du Mont Dr	0.20mi	2/1.5	1,342 (-2%)	14mo	$165,000	$123	74
2069 Lac Du Mont Dr	0.22mi	3/1.5 (+1)	1,393 (+2%)	10mo	$200,000	$144	72
5916 Okemos Rd	0.22mi	2/2.0	1,438 (+5%)	11mo	$175,000	$122	68
2061 La Mer Ln	0.09mi	2/1.5	1,222 (-11%)	14mo	$160,000	$131	64
1985 Lac Du Mont Dr	0.15mi	3/1.5 (+1)	1,193 (-13%)	2mo	$200,000	$168	63
2037 Lac Du Mont Dr	0.16mi	3/1.5 (+1)	1,193 (-13%)	6mo	$200,000	$168	60
2098 La Mer Ln #49	0.05mi	3/1.5 (+1)	1,193 (-13%)	20mo	$151,000	$127	53
2071 Lac Du Mont	0.22mi	3/1.5 (+1)	1,193 (-13%)	10mo	$192,000	$161	53
2120 Blue Lac Dr	0.06mi	3/1.5 (+1)	1,193 (-13%)	21mo	$179,900	$151	52
1988 Lac Du Mont Dr #144	0.22mi	3/1.5 (+1)	1,240 (-9%)	21mo	$185,000	$149	50
5773 Bois Ile Dr	0.35mi	3/1.5 (+1)	1,240 (-9%)	14mo	$164,000	$132	49
1977 Lac Du Mont Dr	0.16mi	3/1.5 (+1)	1,193 (-13%)	21mo	$185,000	$155	47

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: -25.4%
• Equity multiple: 0.14×
• Total profit: $-36,256
• Equity at exit: $22,351

10-year hold

• IRR: -21.0%
• Equity multiple: -0.10×
• Total profit: $-46,327
• Equity at exit: $12,961

Cash invested: $41,972 (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 48840

• Active inventory: 73
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,505 high
• Mortgage (P&I): −$786
• Tax from tax record: −$266 /mo · $3,194/yr
• Insurance: −$62
• HOA: −$266
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $-192

Break-even live

Break-even rent $1,748

Max offer price $116,061

Occupancy floor —

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5910 Okemos Rd Haslett, MI	2.0	1.0	900	$1,599	$1.78	44d	1	0.23mi
5984 Bois Ile Dr Haslett, MI	2.0	1.5	1100	$1,150	$1.05	44d	1	0.52mi
5800 Benson Dr Haslett, MI	1.0–2.0	1.0–1.5	800	$1,808	$2.26	14d	13	0.80mi
6276 Newton Rd Haslett, MI	1.0–4.0	1.0–3.0	1182	$2,271	$1.92	14d	42	1.04mi
5705 Potter St #1 Haslett, MI	2.0	1.5	1100	$1,295	$1.18	44d	1	1.05mi
1750 Maple Rdg Haslett, MI	2.0	1.5	1016	$1,700	$1.67	14d	1	1.07mi
1715 Huntsville Dr Haslett, MI	1.0–2.0	1.0	750	$950	$1.27	14d	1	1.24mi
5177 Marsh Rd Okemos, MI	2.0	2.0	925	$1,500	$1.62	14d	1	1.44mi

HOA detail

• Monthly dues: $266 · $3,192/yr
• Likely covers: pool

Listing history 31 events

1. 2026-06-18
   days on market $149,900 Active 133 DOM
2. 2026-06-17
   days on market $149,900 Active 132 DOM
3. 2026-06-16
   days on market $149,900 Active 131 DOM
4. 2026-06-15
   days on market $149,900 Active 130 DOM
5. 2026-06-14
   days on market $149,900 Active 128 DOM
6. 2026-06-13
   days on market $149,900 Active 127 DOM
7. 2026-06-10
   days on market $149,900 Active 125 DOM
8. 2026-06-09
   days on market $149,900 Active 124 DOM
9. 2026-06-08
   days on market $149,900 Active 123 DOM
10. 2026-06-07
    days on market $149,900 Active 122 DOM
11. 2026-06-03
    days on market $149,900 Active 118 DOM
12. 2026-06-02
    days on market $149,900 Active 117 DOM
13. 2026-06-01
    days on market $149,900 Active 116 DOM
14. 2026-05-31
    days on market $149,900 Active 115 DOM
15. 2026-05-30
    days on market $149,900 Active 114 DOM
16. 2026-04-14
    price $149,900 918-char remark

    Show marketing remark (918 chars)

    Welcome to this great ranch-style condo in Haslett. The floor plan is very open, featuring a spacious step-down living room filled with abundant natural light. The living room walks out through a sliding door to the deck. Adjacent to the kitchen, the dining area offers a perfect spot to enjoy meals. The kitchen is very functional, and all appliances are included with the condo. Two generously sized bedrooms share a full bathroom, offering a blend of comfort and convenience. The finished basement includes a recreation area, a wet bar, laundry, and plenty of storage space. New flooring has been installed on both the upper and lower levels in recent years. The property may be used as a homestead or rental and currently has a rental license. The community offers many amenities, including a clubhouse, pool, and golf course. Conveniently located close to the lake, highways, restaurants, shopping, and much more!

17. 2026-04-14
    price $149,900 918-char remark

    Show marketing remark (918 chars)

    Welcome to this great ranch-style condo in Haslett. The floor plan is very open, featuring a spacious step-down living room filled with abundant natural light. The living room walks out through a sliding door to the deck. Adjacent to the kitchen, the dining area offers a perfect spot to enjoy meals. The kitchen is very functional, and all appliances are included with the condo. Two generously sized bedrooms share a full bathroom, offering a blend of comfort and convenience. The finished basement includes a recreation area, a wet bar, laundry, and plenty of storage space. New flooring has been installed on both the upper and lower levels in recent years. The property may be used as a homestead or rental and currently has a rental license. The community offers many amenities, including a clubhouse, pool, and golf course. Conveniently located close to the lake, highways, restaurants, shopping, and much more!

18. 2026-02-24
    price $155,900 918-char remark

    Show marketing remark (918 chars)

    Welcome to this great ranch-style condo in Haslett. The floor plan is very open, featuring a spacious step-down living room filled with abundant natural light. The living room walks out through a sliding door to the deck. Adjacent to the kitchen, the dining area offers a perfect spot to enjoy meals. The kitchen is very functional, and all appliances are included with the condo. Two generously sized bedrooms share a full bathroom, offering a blend of comfort and convenience. The finished basement includes a recreation area, a wet bar, laundry, and plenty of storage space. New flooring has been installed on both the upper and lower levels in recent years. The property may be used as a homestead or rental and currently has a rental license. The community offers many amenities, including a clubhouse, pool, and golf course. Conveniently located close to the lake, highways, restaurants, shopping, and much more!

19. 2026-02-24
    price $155,900 918-char remark

    Show marketing remark (918 chars)

    Welcome to this great ranch-style condo in Haslett. The floor plan is very open, featuring a spacious step-down living room filled with abundant natural light. The living room walks out through a sliding door to the deck. Adjacent to the kitchen, the dining area offers a perfect spot to enjoy meals. The kitchen is very functional, and all appliances are included with the condo. Two generously sized bedrooms share a full bathroom, offering a blend of comfort and convenience. The finished basement includes a recreation area, a wet bar, laundry, and plenty of storage space. New flooring has been installed on both the upper and lower levels in recent years. The property may be used as a homestead or rental and currently has a rental license. The community offers many amenities, including a clubhouse, pool, and golf course. Conveniently located close to the lake, highways, restaurants, shopping, and much more!

20. 2026-02-05
    listed $162,500 Active 918-char remark

    Show marketing remark (918 chars)

    Welcome to this great ranch-style condo in Haslett. The floor plan is very open, featuring a spacious step-down living room filled with abundant natural light. The living room walks out through a sliding door to the deck. Adjacent to the kitchen, the dining area offers a perfect spot to enjoy meals. The kitchen is very functional, and all appliances are included with the condo. Two generously sized bedrooms share a full bathroom, offering a blend of comfort and convenience. The finished basement includes a recreation area, a wet bar, laundry, and plenty of storage space. New flooring has been installed on both the upper and lower levels in recent years. The property may be used as a homestead or rental and currently has a rental license. The community offers many amenities, including a clubhouse, pool, and golf course. Conveniently located close to the lake, highways, restaurants, shopping, and much more!

21. 2026-02-05
    listed $162,500 Active 918-char remark

    Show marketing remark (918 chars)

    Welcome to this great ranch-style condo in Haslett. The floor plan is very open, featuring a spacious step-down living room filled with abundant natural light. The living room walks out through a sliding door to the deck. Adjacent to the kitchen, the dining area offers a perfect spot to enjoy meals. The kitchen is very functional, and all appliances are included with the condo. Two generously sized bedrooms share a full bathroom, offering a blend of comfort and convenience. The finished basement includes a recreation area, a wet bar, laundry, and plenty of storage space. New flooring has been installed on both the upper and lower levels in recent years. The property may be used as a homestead or rental and currently has a rental license. The community offers many amenities, including a clubhouse, pool, and golf course. Conveniently located close to the lake, highways, restaurants, shopping, and much more!

22. 2018-06-13
    soldstatus $80,500
23. 2018-05-14
    soldstatus $80,500
24. 2018-05-14
    soldstatus $80,500
25. 2018-01-08
    listed $89,500
26. 2018-01-08
    listed $89,500
27. 2016-07-06
    soldstatus $72,100
28. 2009-06-29
    soldstatus $68,000
29. 2002-09-25
    soldstatus $104,000
30. 2001-04-09
    soldstatus $85,000
31. 2001-04-09
    soldstatus $85,000

ⓘ 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: $3,194 · $266/mo
• Projected year-2 tax: $3,194 · $266/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 ≥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: $18,063
• − Mortgage interest: −$8,397
• − Property taxes: −$3,194
• − Insurance: −$750
• − Repairs & maintenance: −$1,445
• − Management: −$1,445
• − HOA: −$3,192
• − Depreciation: −$4,361
• Taxable loss: −$4,720
• Est. tax savings @ 24.0%: +$1,133
• After-tax cash flow: $-1,166/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: Haslett Public Schools
• NCES district ID: 2617940
• Math proficiency: 55% ▼ -12.00%
• Reading proficiency: 63% ▼ -10.00%
• Median HH income: $61,571
• Composite: 51.33/100
• National rank: #1739
• State rank: #44 of 540 in MI

Livability — Meridian

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Haslett, MI
• County: Ingham County · 237,052 people
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 12,386
• Household income: $73,408
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 415.0

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: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 9% Hispanic / Latino 6% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 5% Lithuanian 5% Iranian 3%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 91% English-only · Spanish 3% Arabic 2% 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: ▼ -174.62%
• Current HPI: 223.7401
• 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

+76.4% since first listed

16 events — show timeline

• 2026-04-14 Price Changed $149,900 REALCOMP
• 2026-04-14 Price Changed $149,900 Greater Lansing AoR
• 2026-02-24 Price Changed $155,900 REALCOMP
• 2026-02-24 Price Changed $155,900 Greater Lansing AoR
• 2026-02-05 Listed $162,500 REALCOMP
• 2026-02-05 Listed $162,500 Greater Lansing AoR
• 2018-06-13 Sold (Public Records) $80,500 Public Records
• 2018-05-14 Sold (MLS) $80,500 Greater Lansing AoR
• 2018-05-14 Sold (MLS) $80,500 REALCOMP
• 2018-01-08 Listed $89,500 Greater Lansing AoR
• 2018-01-08 Listed $89,500 REALCOMP
• 2016-07-06 Sold (Public Records) $72,100 Public Records
• 2009-06-29 Sold (Public Records) $68,000 Public Records
• 2002-09-25 Sold (Public Records) $104,000 Public Records
• 2001-04-09 Sold (Public Records) $85,000 Public Records
• 2001-04-09 Sold (Public Records) $85,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $3,194 · +2.9% YoY. Source: county tax records.