1318 E Prospect St · Lansing, MI 48912

$209,900

4 bd · 1.0 ba · 1,622 sqft · SingleFamily public records · 4 Days on market

Built 1914 4,356 sqft lot Est $182k · 16% over

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Why this score? — see what drove the F 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 +13.9/30.0
• Rent growth +4.3/5.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1318 Prospect Street, nestled in Lansing's highly desirable Eastside neighborhood. This centrally located home offers convenient access to Downtown Lansing, LCC, East Lansing, MSU, University of Michigan Health-Sparrow Hospital, Frandor Shopping Center, parks, and a variety of local dining options. With approximately 1,770 square feet of living space, this home blends character, comfort, and thoughtful updates throughout. The main level features a spacious living room with a cozy wood-burning fireplace, a charming dining area with built-ins, and an updated kitchen complete with heated floors and ample space for cooking and entertaining. A full bath and a bright, heated sunroom overlooking the landscaped backyard and tranquil pond complete the main floor. A stunning custom blackwalnut staircase leads to the second level, where you'll find three generously sized bedrooms with hardwood floors, and a fully remodeled bathroom (2024) featuring a walk-in shower and classic clawfoot tub. The third-floor primary suite is a true retreat, showcasing tongue-and-groove woodwork, multiple skylights, abundant storage, and a warm, inviting atmosphere. Recent updates include, windows, siding (2013) roof (2017) water heater (2018) gutters & downspouts (2021) central air (2023) sewer line (2023). The basement provides ample storage, a large pantry, and a flexible bonus space currently used as an exercise room. The 1.5-car garage offers excellent storage and features a unique sliding side door. Above the garage, a 19.5 x 15.6 finished bonus room is currently used as a woodworking shop and includes two 220-volt outlets, full insulation, baseboard heat, and built-in storage, ideal for hobbies, a studio, or workspace. Step outside to your own private oasis, complete with a deck, peaceful pond, and beautiful perennial gardens, perfect for relaxing or entertaining. Schedule your showing today. This charming move in ready home is one you won't want to miss! All measurements are approximate. Buyer to verify.

Key facts

• Landscaped backyard
• Heated floors
• Updated kitchen

Tags

• COZY WOOD-BURNING FIREPLACE
• UPDATED KITCHEN
• HEATED FLOORS
• BRIGHT HEATED SUNROOM
• LANDSCAPED BACKYARD
• CUSTOM BLACK WALNUT STAIRCASE

Property features AI

Exterior

• Parking: Detached garage (1 garage space)
• Utilities: 200+ amp electric service; Public sewer; Water connected; Sewer connected; Electricity connected; Cable available
• Home design: Colonial style; Three or more levels; Home faces north; City street frontage
• Construction: Vinyl siding; Block foundation; Shingle roof; Built in 1914; Includes a workshop structure
• Exterior features: Balcony; Garden; Deck; Patio; Back yard; Front yard; Landscaped grounds; Many trees; Gate fencing at back yard

Interior

• Kitchen: Free‑standing gas range; Range hood; Dishwasher; Free‑standing refrigerator
• Bedrooms: 4 bedrooms (includes Primary Bedroom)
• Flooring: Carpet; Ceramic tile; Hardwood; Laminate; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Floor furnace; Central air conditioning
• Interior features: Built-in features; Ceiling fans; Laminate counters; Natural woodwork; Storage; Living room wood-burning fireplace; Basement crawl space and partial basement
• Laundry & utility: Washer and dryer; Laundry located in basement; Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $25 ($294/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 $160k (23.9% below list).
• Recommended offer: $160k (23.9% below list) — sets the bar for 1% rule.

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 (+7.0%/yr); 98 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); 67% 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 runs 35% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $48k; list at $210k implies a 337% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,645 (23.9% below list)

Questions for the listing agent

1. Built in 1914 — 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. 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?
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: 0.76% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.50%
• DSCR: 1.02
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $181,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228 Marshall St	0.46mi	4/1.5	1,711 (+6%)	1mo	$211,000	$123	66
222 S Clemens Ave	0.48mi	4/2.0	1,496 (-8%)	3mo	$142,500	$95	58
910 Vine St	0.47mi	4/3.0	1,508 (-7%)	1mo	$145,000	$96	57
1108 S Holmes St	0.61mi	5/2.0 (+1)	1,552 (-4%)	2mo	$189,900	$122	54
925 S Holmes St	0.43mi	3/2.5 (-1)	1,478 (-9%)	2mo	$139,900	$95	53
245 Elvin Ct	0.50mi	4/2.0	1,424 (-12%)	0mo	$185,500	$130	52
412 S Fairview Ave	0.55mi	4/2.0	1,408 (-13%)	0mo	$115,000	$82	48
134 S Fairview Ave	0.55mi	3/1.5 (-1)	1,428 (-12%)	1mo	$175,900	$123	47
1201 Climax St	0.45mi	3/2.0 (-1)	1,408 (-13%)	2mo	$157,000	$112	46
1015 Lathrop St	0.55mi	3/1.5 (-1)	1,840 (+13%)	1mo	$151,000	$82	44
413 N Clemens Ave	0.67mi	4/2.0	1,408 (-13%)	4mo	$155,000	$110	40
519 N Clemens Ave	0.74mi	3/1.5 (-1)	1,459 (-10%)	3mo	$182,900	$125	39

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 · 7.02% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.56×
• Total profit: $-25,840
• Equity at exit: $31,297

10-year hold

• IRR: 1.9%
• Equity multiple: 1.15×
• Total profit: $9,026
• Equity at exit: $18,148

Cash invested: $58,772 (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 48912

• Rents YoY: 7.0%
• Active inventory: 98
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,596 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$48 /mo · $582/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $25

Break-even live

Break-even rent $1,565

Max offer price $209,900

Occupancy floor 93%

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1027 Climax St Lansing, MI	3.0	1.5	1298	$1,550	$1.19	14d	1	0.49mi
329 S Clemens Ave Lansing, MI	3.0	1.0	1194	$1,400	$1.17	21d	1	0.50mi
921 Linden Grove Ave Lansing, MI	3.0	1.0	1694	$1,499	$0.88	44d	1	0.66mi
605 S Grand Ave Unit 2 Lansing, MI	4.0	1.0	1200	$1,100	$0.92	44d	1	0.98mi
1102 Clark St Lansing, MI	3.0	1.0	1232	$1,550	$1.26	21d	1	1.01mi
401 S Washington Sq Unit 201 Lansing, MI	3.0	1.0	1254	$1,560	$1.24	44d	1	1.02mi
1228 N Fairview Ave Lansing, MI	3.0	2.0	1100	$1,700	$1.55	44d	1	1.27mi
433 Seymour Ave Unit 3 Lansing, MI	3.0	1.0	1250	$1,395	$1.12	44d	1	1.31mi
1561 Massachusetts Ave Lansing, MI	3.0	2.0	1100	$1,400	$1.27	44d	1	1.44mi

Listing history 5 events

1. 2026-06-13
   statusdays on market $209,900 Pending 4 DOM
2. 2026-06-10
   days on market $209,900 Active 3 DOM
3. 2026-06-09
   days on market $209,900 Active 2 DOM
4. 2026-06-08
   remarks 699-char remark

   Show marketing remark (2034 chars)

   Welcome to 1318 Prospect Street, nestled in Lansing's highly desirable Eastside neighborhood. This centrally located home offers convenient access to Downtown Lansing, LCC, East Lansing, MSU, University of Michigan Health-Sparrow Hospital, Frandor Shopping Center, parks, and a variety of local dining options. With approximately 1,770 square feet of living space, this home blends character, comfort, and thoughtful updates throughout. The main level features a spacious living room with a cozy wood-burning fireplace, a charming dining area with built-ins, and an updated kitchen complete with heated floors and ample space for cooking and entertaining. A full bath and a bright, heated sunroom overlooking the landscaped backyard and tranquil pond complete the main floor. A stunning custom blackwalnut staircase leads to the second level, where you'll find three generously sized bedrooms with hardwood floors, and a fully remodeled bathroom (2024) featuring a walk-in shower and classic clawfoot tub. The third-floor primary suite is a true retreat, showcasing tongue-and-groove woodwork, multiple skylights, abundant storage, and a warm, inviting atmosphere. Recent updates include, windows, siding (2013) roof (2017) water heater (2018) gutters & downspouts (2021) central air (2023) sewer line (2023). The basement provides ample storage, a large pantry, and a flexible bonus space currently used as an exercise room. The 1.5-car garage offers excellent storage and features a unique sliding side door. Above the garage, a 19.5 x 15.6 finished bonus room is currently used as a woodworking shop and includes two 220-volt outlets, full insulation, baseboard heat, and built-in storage, ideal for hobbies, a studio, or workspace. Step outside to your own private oasis, complete with a deck, peaceful pond, and beautiful perennial gardens, perfect for relaxing or entertaining. Schedule your showing today. This charming move in ready home is one you won't want to miss! All measurements are approximate. Buyer to verify.

5. 2026-06-08
   listed $209,900 Active 1 DOM

   Show marketing remark (2034 chars)

   Welcome to 1318 Prospect Street, nestled in Lansing's highly desirable Eastside neighborhood. This centrally located home offers convenient access to Downtown Lansing, LCC, East Lansing, MSU, University of Michigan Health-Sparrow Hospital, Frandor Shopping Center, parks, and a variety of local dining options. With approximately 1,770 square feet of living space, this home blends character, comfort, and thoughtful updates throughout. The main level features a spacious living room with a cozy wood-burning fireplace, a charming dining area with built-ins, and an updated kitchen complete with heated floors and ample space for cooking and entertaining. A full bath and a bright, heated sunroom overlooking the landscaped backyard and tranquil pond complete the main floor. A stunning custom blackwalnut staircase leads to the second level, where you'll find three generously sized bedrooms with hardwood floors, and a fully remodeled bathroom (2024) featuring a walk-in shower and classic clawfoot tub. The third-floor primary suite is a true retreat, showcasing tongue-and-groove woodwork, multiple skylights, abundant storage, and a warm, inviting atmosphere. Recent updates include, windows, siding (2013) roof (2017) water heater (2018) gutters & downspouts (2021) central air (2023) sewer line (2023). The basement provides ample storage, a large pantry, and a flexible bonus space currently used as an exercise room. The 1.5-car garage offers excellent storage and features a unique sliding side door. Above the garage, a 19.5 x 15.6 finished bonus room is currently used as a woodworking shop and includes two 220-volt outlets, full insulation, baseboard heat, and built-in storage, ideal for hobbies, a studio, or workspace. Step outside to your own private oasis, complete with a deck, peaceful pond, and beautiful perennial gardens, perfect for relaxing or entertaining. Schedule your showing today. This charming move in ready home is one you won't want to miss! All measurements are approximate. Buyer to verify.

ⓘ 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: $582 · $48/mo
• Projected year-2 tax: $1,907 · $159/mo
• Expected delta: +$1,325/yr (+$110/mo · 227.9%)

ⓘ 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 ≥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: $19,157
• − Mortgage interest: −$11,758
• − Property taxes: −$582
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$6,106
• Taxable loss: −$3,403
• Est. tax savings @ 24.0%: +$817
• After-tax cash flow: $1,111/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): 17,674
• Household income: $54,429
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 1171.0

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 56% Black 22% Two or more races 12% Hispanic / Latino 10% Asian 4%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Romanian 5% Iranian 4% Lithuanian 3%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 5% French/Haitian/Cajun 1% Korean 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: ▼ -167.67%
• Current HPI: 171.1549
• Rent YoY: ▲ 7.02%
• 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

+337.3% since first listed

3 events — show timeline

• 2026-06-08 Listed $209,900 REALCOMP
• 2026-06-07 Listed $209,900 Greater Lansing AoR
• 2000-01-03 Sold (Public Records) $48,000 Public Records

Property tax history

-9.8%/yr

Latest (2025): $582 · -78.2% YoY. Source: county tax records.