4308 Pleasant Grove Rd · Lansing, MI 48910

$122,000

2 bd · 1.0 ba · 994 sqft · SingleFamily public records · 34 Days on market

Built 1925 0.46 ac lot Est $129k · 6% 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 +21.1/30.0
• ARV discount +10.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.3/10.0
• 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

THIS IS AN AUCTION, the sale price reflects the SEV value doubled. Bidding ends, June 23, 2026 at 1:00 pm. Visit www. sheridanauctionservice.com to register and bid on this auction. This exceptionally well-maintained home is move-in ready. The front door opens to a spacious living and dining area with beautiful original hardwood floors. The large kitchen, complete with a dining peninsula, offers plenty of space for entertaining.

Key facts

• Large kitchen
• Dining peninsula
• 0.46 acre lot

Tags

• ORIGINAL HARDWOOD FLOORS
• LARGE KITCHEN
• DINING PENINSULA

Property features AI

Exterior

• Home design: Single-family residential; Residential property
• Construction: Built in 1925; Vinyl siding; Shingle roof
• Exterior features: Corner lot; Paved road access

Interior

• Kitchen: Kitchen (10 x 11)
• Bedrooms: Primary bedroom (13 x 8); Second bedroom (12 x 8)
• Bathrooms: One full bathroom (8 x 6)
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Full basement (Michigan basement)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (7.0% below list).
• Recommended offer: $114k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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 (+4.7%/yr); 175 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $843 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 34 days — a 3% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,521 (7.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.93% ✗
• Cap rate: 8.01%
• Cash-on-cash: 6.12%
• DSCR: 1.27
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $129,220
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4628 Pleasant Grove Rd	0.20mi	3/1.0 (+1)	1,008 (+1%)	6mo	$127,000	$126	78
4110 Richmond St	0.12mi	3/1.0 (+1)	925 (-7%)	6mo	$120,000	$130	73
1715 Hillcrest St	0.43mi	2/1.0	1,038 (+4%)	2mo	$115,000	$111	70
4416 Ballard Rd	0.44mi	2/1.0	933 (-6%)	3mo	$82,000	$88	67
2820 Reo Rd	0.40mi	2/1.0	904 (-9%)	2mo	$144,000	$159	65
4920 Ballard Rd	0.60mi	3/1.5 (+1)	1,009 (+2%)	0mo	$167,000	$166	62
3115 Risdale Ave	0.52mi	3/1.0 (+1)	973 (-2%)	6mo	$50,000	$51	62
2813 Greenbelt Dr	0.34mi	3/1.0 (+1)	894 (-10%)	1mo	$120,000	$134	62
1808 W Jolly Rd	0.56mi	2/1.0	914 (-8%)	3mo	$75,000	$82	58
3330 Avalon St	0.61mi	3/1.0 (+1)	905 (-9%)	4mo	$129,900	$144	49
3312 Pleasant Grove Rd	0.62mi	3/1.5 (+1)	1,110 (+12%)	5mo	$130,000	$117	41
2045 Moffitt St	0.75mi	2/1.0	876 (-12%)	6mo	$145,000	$166	41

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: -5.2%
• Equity multiple: 0.80×
• Total profit: $-6,753
• Equity at exit: $18,191

10-year hold

• IRR: 6.1%
• Equity multiple: 1.49×
• Total profit: $16,606
• Equity at exit: $10,548

Cash invested: $34,160 (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: 175
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,135 high
• Mortgage (P&I): −$640
• Tax from tax record: −$32 /mo · $386/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $174

Break-even live

Break-even rent $915

Max offer price $122,000

Occupancy floor 80%

Sensitivity live

Price	-10% $243	-5% $209	+0% $174	+5% $140	+10% $105
Rent	-10% $84	-5% $129	+0% $174	+5% $219	+10% $264
Rate	-1.0pp $236	-0.5pp $205	base $174	+0.5pp $142	+1.0pp $110

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4318 Pleasant Grove Rd Lansing, MI	1.0–3.0	1.0–2.0	722	$1,125	$1.56	15d	1	0.04mi
2612 Fielding Dr Lansing, MI	2.0	1.0	1100	$1,095	$1.00	45d	1	0.23mi
4125 Ingham St Lansing, MI	3.0	1.0	933	$1,300	$1.39	45d	1	0.24mi
2114 Ferrol St Unit 1 Lansing, MI	2.0	1.0	700	$950	$1.36	22d	1	0.35mi
3606 Pleasant Grove Rd Lansing, MI	1.0–2.0	1.0	812	$1,100	$1.35	45d	1	0.37mi
2823 Hillcrest St Lansing, MI	3.0	1.0	925	$1,245	$1.35	22d	1	0.38mi
2920 Hillcrest St Lansing, MI	3.0	1.0	1040	$1,225	$1.18	45d	1	0.45mi
3501 Simken Dr Lansing, MI	2.0	1.0	900	$950	$1.06	45d	1	0.49mi
2009 W Holmes Rd Unit 11 Lansing, MI	2.0	1.0	800	$925	$1.16	15d	1	0.54mi
3334 Pleasant Grove Rd Apt 15 Lansing, MI	2.0	1.0	800	$950	$1.19	45d	1	0.57mi
3334 Pleasant Grove Rd Apt 10 Lansing, MI	2.0	1.0	800	$900	$1.12	45d	1	0.57mi
3334 Pleasant Grove Rd Unit 19 Lansing, MI	2.0	1.0	700	$999	$1.43	15d	1	0.57mi
1115 Dorchester Cir Lansing, MI	2.0	1.0	850	$855	$1.01	15d	5	0.80mi
1001 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$850	$1.10	15d	4	0.85mi
2711 Dunlap St Lansing, MI	3.0	1.0	1020	$1,350	$1.32	45d	1	0.86mi
3530 W Jolly Rd Unit 6 Lansing, MI	2.0	1.0	1049	$1,100	$1.05	22d	1	0.90mi
911 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$1,000	$1.29	22d	1	0.91mi
2420 Radford Rd Lansing, MI	2.0	1.0	768	$1,200	$1.56	15d	1	1.06mi
915 Loa St Lansing, MI	2.0	1.0	674	$999	$1.48	45d	1	1.19mi
2815 Mersey Ln Lansing, MI	2.0–3.0	2.0	1050	$1,225	$1.17	15d	2	1.32mi
4030 Hartford Rd Lansing, MI	1.0–2.0	1.0	640	$1,094	$1.71	15d	42	1.33mi
3031 S Washington Ave Lansing, MI	1.0–2.0	1.0	725	$1,100	$1.52	45d	1	1.43mi

Listing history 20 events

1. 2026-06-21
   days on market $122,000 Active 34 DOM
2. 2026-06-18
   days on market $122,000 Active 31 DOM
3. 2026-06-17
   days on market $122,000 Active 30 DOM
4. 2026-06-16
   days on market $122,000 Active 29 DOM
5. 2026-06-15
   days on market $122,000 Active 28 DOM
6. 2026-06-14
   days on market $122,000 Active 26 DOM
7. 2026-06-13
   days on market $122,000 Active 25 DOM
8. 2026-06-10
   days on market $122,000 Active 23 DOM
9. 2026-06-09
   days on market $122,000 Active 22 DOM
10. 2026-06-08
    days on market $122,000 Active 21 DOM
11. 2026-06-07
    days on market $122,000 Active 20 DOM
12. 2026-06-05
    days on market $122,000 Active 17 DOM
13. 2026-06-03
    days on market $122,000 Active 16 DOM
14. 2026-06-02
    days on market $122,000 Active 15 DOM
15. 2026-06-01
    days on market $122,000 Active 14 DOM
16. 2026-05-31
    days on market $122,000 Active 13 DOM
17. 2026-05-30
    days on market $122,000 Active 12 DOM
18. 2026-05-18
    listed $122,000 Active 432-char remark

    Show marketing remark (432 chars)

    THIS IS AN AUCTION, the sale price reflects the SEV value doubled. Bidding ends, June 23, 2026 at 1:00 pm. Visit www. sheridanauctionservice.com to register and bid on this auction. This exceptionally well-maintained home is move-in ready. The front door opens to a spacious living and dining area with beautiful original hardwood floors. The large kitchen, complete with a dining peninsula, offers plenty of space for entertaining.

19. 2026-05-18
    listed $122,000 Active

    Show marketing remark (432 chars)

    THIS IS AN AUCTION, the sale price reflects the SEV value doubled. Bidding ends, June 23, 2026 at 1:00 pm. Visit www. sheridanauctionservice.com to register and bid on this auction. This exceptionally well-maintained home is move-in ready. The front door opens to a spacious living and dining area with beautiful original hardwood floors. The large kitchen, complete with a dining peninsula, offers plenty of space for entertaining.

20. 2026-05-18
    listed $122,000 Active 432-char remark

    Show marketing remark (432 chars)

    THIS IS AN AUCTION, the sale price reflects the SEV value doubled. Bidding ends, June 23, 2026 at 1:00 pm. Visit www. sheridanauctionservice.com to register and bid on this auction. This exceptionally well-maintained home is move-in ready. The front door opens to a spacious living and dining area with beautiful original hardwood floors. The large kitchen, complete with a dining peninsula, offers plenty of space for entertaining.

ⓘ 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: $386 · $32/mo
• Projected year-2 tax: $1,132 · $94/mo
• Expected delta: +$747/yr (+$62/mo · 193.7%)

ⓘ 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 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: $13,623
• − Mortgage interest: −$6,834
• − Property taxes: −$386
• − Insurance: −$610
• − Repairs & maintenance: −$1,090
• − Management: −$1,090
• − Depreciation: −$3,549
• Taxable income: $64
• Est. tax owed @ 24.0%: −$15
• After-tax cash flow: $2,073/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

+0.0% since first listed

3 events — show timeline

• 2026-05-18 Listed $122,000 REALCOMP
• 2026-05-18 Listed $122,000 MiRealSource-MiMLS
• 2026-05-18 Listed $122,000 SW Michigan MLS

Property tax history

-11.1%/yr

Latest (2025): $386 · -80.5% YoY. Source: county tax records.