2812 Cynwood St · Lansing, MI 48906

$29,903

1 bd · 1.0 ba · 557 sqft · SingleFamily public records · 56 Days on market

Built 1925 5,662 sqft lot $54/sqft · 67% below area ↓ 25% 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

2bedroom ready for your rehab and creative thoughts. The home features a newer roof, 2bedrooms, 1 bath and a great yard! Location is easy to shopping, near bus route, short drive to downtown, old town or college campus. This would make a great investment property as a rental or flip. Schedule your viewing today!

Key facts

• Newer roof
• Great yard
• Near bus route

Tags

• NEWER ROOF
• GREAT YARD
• NEAR BUS ROUTE
• SHORT DRIVE TO DOWNTOWN

Property features AI

Finance

• Financial info: Current use listed as investment

Exterior

• Parking: Driveway and on-site parking; No attached garage
• Utilities: Public sewer; Sewer, natural gas, and electricity connected
• Home design: One-level home; Built in 1925; Road frontage on a city street
• Construction: Hardboard exterior; Built in 1925
• Exterior features: Front and back yard on a city lot; Front porch; Shingle roof; Paved road frontage

Interior

• Kitchen: Kitchen (appliance details not provided)
• Bedrooms: 2 bedrooms (including primary bedroom)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No cooling
• Interior features: Main-level laundry; Michigan-style basement
• Laundry & utility: Laundry located on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($883 rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 26.0% 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 (+10.5%/yr); 138 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% 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 is only 16% of the median local income ($64k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $206 of loan paydown is wiped out by about $897 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,005 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% 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: 2.95% ✓
• Cap rate: 26.00%
• Cash-on-cash: 70.37%
• DSCR: 4.13
• GRM: 2.8

CMA / ARV

• ARV (median comp): $91,273
• List price: $29,903
• Delta: -67.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1523 Downey St	0.14mi	2/1.0 (+1)	639 (+15%)	9mo	$97,000	$152	56
816 Cypress St	0.74mi	2/1.0 (+1)	600 (+8%)	15mo	$58,000	$97	35
1510 Roseneath Ave	0.72mi	2/1.0 (+1)	616 (+11%)	23mo	$72,500	$118	25

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: 75.5%
• Equity multiple: 4.72×
• Total profit: $31,106
• Equity at exit: $4,459

10-year hold

• IRR: 80.6%
• Equity multiple: 11.59×
• Total profit: $88,649
• Equity at exit: $2,585

Cash invested: $8,373 (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 48906

• Rents YoY: 10.5%
• Active inventory: 138
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $883 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $449/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $491

Break-even live

Break-even rent $262

Max offer price $29,903

Occupancy floor 39%

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: $7,476
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1443 Roselawn Ave Lansing, MI	2.0	1.0	656	$750	$1.14	43d	1	0.73mi
1216 N Chestnut St Lansing, MI	1.0	1.0	562	$900	$1.60	13d	1	1.15mi
4515 N Grand River Ave Lansing, MI	1.0–2.0	1.0	712	$725	$1.02	13d	1	1.16mi
1010 N Pine St Unit B Lansing, MI	2.0	1.0	750	$1,100	$1.47	43d	1	1.27mi
1016 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	700	$850	$1.21	43d	1	1.42mi
1016 N Capitol Ave Unit 3 Lansing, MI	1.0	1.0	500	$800	$1.60	43d	1	1.42mi
917 Seymour Ave Unit 3 Lansing, MI	1.0	1.0	475	$800	$1.68	43d	1	1.44mi
1025 N Washington Ave Unit 9 Lansing, MI	1.0	1.0	670	$1,000	$1.49	43d	1	1.44mi
826 N Walnut St Lansing, MI	1.0	1.0	700	$700	$1.00	43d	2	1.47mi

Listing history 20 events

1. 2026-06-18
   days on market $29,903 Active 56 DOM
2. 2026-06-17
   days on market $29,903 Active 55 DOM
3. 2026-06-16
   days on market $29,903 Active 54 DOM
4. 2026-06-15
   days on market $29,903 Active 53 DOM
5. 2026-06-14
   days on market $29,903 Active 51 DOM
6. 2026-06-13
   days on market $29,903 Active 50 DOM
7. 2026-06-10
   days on market $29,903 Active 48 DOM
8. 2026-06-09
   days on market $29,903 Active 47 DOM
9. 2026-06-08
   days on market $29,903 Active 46 DOM
10. 2026-06-07
    days on market $29,903 Active 45 DOM
11. 2026-06-05
    days on market $29,903 Active 42 DOM
12. 2026-06-03
    days on market $29,903 Active 41 DOM
13. 2026-06-02
    days on market $29,903 Active 40 DOM
14. 2026-06-01
    days on market $29,903 Active 39 DOM
15. 2026-05-31
    days on market $29,903 Active 38 DOM
16. 2026-05-30
    days on market $29,903 Active 37 DOM
17. 2026-05-07
    price $37,901 313-char remark

    Show marketing remark (313 chars)

    2bedroom ready for your rehab and creative thoughts. The home features a newer roof, 2bedrooms, 1 bath and a great yard! Location is easy to shopping, near bus route, short drive to downtown, old town or college campus. This would make a great investment property as a rental or flip. Schedule your viewing today!

18. 2026-05-07
    price $37,901 314-char remark

    Show marketing remark (313 chars)

    2bedroom ready for your rehab and creative thoughts. The home features a newer roof, 2bedrooms, 1 bath and a great yard! Location is easy to shopping, near bus route, short drive to downtown, old town or college campus. This would make a great investment property as a rental or flip. Schedule your viewing today!

19. 2026-04-21
    listed $39,900 Active 313-char remark

    Show marketing remark (313 chars)

    2bedroom ready for your rehab and creative thoughts. The home features a newer roof, 2bedrooms, 1 bath and a great yard! Location is easy to shopping, near bus route, short drive to downtown, old town or college campus. This would make a great investment property as a rental or flip. Schedule your viewing today!

20. 2026-04-21
    listed $39,900 Active 314-char remark

    Show marketing remark (313 chars)

    2bedroom ready for your rehab and creative thoughts. The home features a newer roof, 2bedrooms, 1 bath and a great yard! Location is easy to shopping, near bus route, short drive to downtown, old town or college campus. This would make a great investment property as a rental or flip. Schedule your viewing today!

ⓘ 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: $10,597
• − Mortgage interest: −$1,675
• − Property taxes: −$449
• − Insurance: −$150
• − Repairs & maintenance: −$848
• − Management: −$848
• − Depreciation: −$870
• Taxable income: $5,759
• Est. tax owed @ 24.0%: −$1,382
• After-tax cash flow: $4,510/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): 25,901
• Household income: $64,315
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 851.0

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 0.56)
• Race & ethnicity: White 64% Black 15% Two or more races 12% Hispanic / Latino 12% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -135.54%
• Current HPI: 228.7023
• Rent YoY: ▲ 10.50%
• 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

-25.1% since first listed

8 events — show timeline

• 2026-05-26 Price Changed $29,903 REALCOMP
• 2026-05-26 Price Changed $29,903 Greater Lansing AoR
• 2026-05-19 Price Changed $35,000 REALCOMP
• 2026-05-19 Price Changed $35,000 Greater Lansing AoR
• 2026-05-07 Price Changed $37,901 REALCOMP
• 2026-05-07 Price Changed $37,901 Greater Lansing AoR
• 2026-04-21 Listed $39,900 Greater Lansing AoR
• 2026-04-21 Listed $39,900 REALCOMP

Property tax history

+16.3%/yr

Latest (2025): $3,657 · +165.3% YoY. Source: county tax records.