4621 S Martin Luther King Jr Blvd · Lansing, MI 48910

$137,000

3 bd · 1.5 ba · 2,460 sqft · SingleFamily public records · 25 Days on market

Built 1953 0.50 ac lot Est $229k · 40% under

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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 +28.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• 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

Great Living Space, This Very Large home has Wonderful Roots * * Great Natural LIghting * This one Just needs a few special touches and this will Grow Back into a Wonderful & Warm Home * * Lots of possiblities in this one. 3 Huge Bedrooms, Large Living Room with Fireplace Updated Kitchen with Beautiful Cabinetry and Modern Fixtures. Hardwood flooring Dining Room Sunroom and Much Much More. Basement is very large plenty of Entertaining Space for all size gatherings. Fenced in Yard, Covered Porch, 2 car garage and much space plenty for all types of games and gardening.

Key facts

• Natural lighting
• Hardwood flooring
• Covered porch

Tags

• NATURAL LIGHTING
• UPDATED KITCHEN
• HARDWOOD FLOORING
• FENCED IN YARD
• COVERED PORCH
• ENTERTAINING SPACE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level entry (ground level); One story
• Construction: Aluminum siding; Block foundation
• Exterior features: Paved road access; Lot approximately 0.5 acre (147 x 148)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Living room fireplace; Full basement, partially finished; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $137k).
• Recommended offer: $135k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% 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, 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.
• Zoned schools: Cavanaugh School (315 students, 89% FRL); Attwood School (193 students, 88% FRL) — zoned schools average 88% FRL vs 68% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.7%/yr); 175 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 39% of the median local income ($55k/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 $947 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.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,945 (1.5% below list)

Questions for the listing agent

1. Built in 1953 — 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: 1.29% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.16%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $228,780
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
616 Beechwood St	0.31mi	4/2.0 (+1)	2,289 (-7%)	13mo	$240,000	$105	56
4108 Walton Dr	0.31mi	4/2.5 (+1)	2,331 (-5%)	19mo	$244,000	$105	52
1220 Pierce Rd	0.21mi	3/1.5	2,102 (-15%)	20mo	$161,000	$77	49
5200 Sunrose Ave	0.53mi	4/2.5 (+1)	2,366 (-4%)	19mo	$217,100	$92	44
3824 Schlee St	0.52mi	4/2.0 (+1)	2,094 (-15%)	4mo	$125,000	$60	41
5213 Crocus Ave	0.61mi	3/2.5	2,198 (-11%)	11mo	$205,000	$93	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: 6.4%
• Equity multiple: 1.25×
• Total profit: $9,752
• Equity at exit: $20,427

10-year hold

• IRR: 17.2%
• Equity multiple: 2.54×
• Total profit: $58,888
• Equity at exit: $11,845

Cash invested: $38,360 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,771 medium
• Mortgage (P&I): −$718
• Tax est. 1.5%: −$171 /mo · $2,055/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $453

Break-even live

Break-even rent $1,198

Max offer price $137,000

Occupancy floor 69%

Sensitivity live

Price	-10% $547	-5% $500	+0% $453	+5% $405	+10% $358
Rent	-10% $313	-5% $383	+0% $453	+5% $523	+10% $593
Rate	-1.0pp $522	-0.5pp $487	base $453	+0.5pp $417	+1.0pp $381

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3021 Midwood St Lansing, MI	4.0	2.0	2060	$2,495	$1.21	45d	1	1.32mi

Listing history 26 events

1. 2026-06-15
   days on market $137,000 Active 25 DOM
2. 2026-06-14
   days on market $137,000 Active 23 DOM
3. 2026-06-13
   days on market $137,000 Active 22 DOM
4. 2026-06-10
   days on market $137,000 Active 20 DOM
5. 2026-06-09
   days on market $137,000 Active 19 DOM
6. 2026-06-08
   days on market $137,000 Active 18 DOM
7. 2026-06-07
   days on market $137,000 Active 17 DOM
8. 2026-06-05
   days on market $137,000 Active 14 DOM
9. 2026-06-03
   days on market $137,000 Active 13 DOM
10. 2026-06-02
    days on market $137,000 Active 12 DOM
11. 2026-06-01
    pricedays on market $137,000 Active 11 DOM
12. 2026-05-31
    days on market $142,000 Active 10 DOM
13. 2026-05-30
    days on market $142,000 Active 9 DOM
14. 2026-05-21
    listed $147,000 Active 587-char remark

    Show marketing remark (587 chars)

    Great Living Space, This Very Large home has Wonderful Roots * * Great Natural LIghting * This one Just needs a few special touches and this will Grow Back into a Wonderful & Warm Home * * Lots of possiblities in this one. 3 Huge Bedrooms, Large Living Room with Fireplace Updated Kitchen with Beautiful Cabinetry and Modern Fixtures. Hardwood flooring Dining Room Sunroom and Much Much More. Basement is very large plenty of Entertaining Space for all size gatherings. Fenced in Yard, Covered Porch, 2 car garage and much space plenty for all types of games and gardening.

15. 2026-05-21
    listed $147,000 Active

    Show marketing remark (587 chars)

    Great Living Space, This Very Large home has Wonderful Roots * * Great Natural LIghting * This one Just needs a few special touches and this will Grow Back into a Wonderful & Warm Home * * Lots of possiblities in this one. 3 Huge Bedrooms, Large Living Room with Fireplace Updated Kitchen with Beautiful Cabinetry and Modern Fixtures. Hardwood flooring Dining Room Sunroom and Much Much More. Basement is very large plenty of Entertaining Space for all size gatherings. Fenced in Yard, Covered Porch, 2 car garage and much space plenty for all types of games and gardening.

16. 2024-09-25
    soldstatus $125,000 Closed 489-char remark

    Show marketing remark (489 chars)

    Explore the inviting comfort of this well-maintained ranch-style home at 4621 S Martin Luther King Jr Boulevard, Lansing, MI. Featuring 3 bedrooms, 2 baths, and 3,320 total sq. ft., this residence offers a spacious kitchen, cozy living areas, and a finished basement with a fireplace. Outdoor enthusiasts will appreciate the fenced backyard and covered porch. Conveniently situated near schools, parks, and amenities, this home is ready to welcome its next owner. Schedule your tour today!

17. 2024-09-25
    soldstatus $125,000

    Show marketing remark (489 chars)

    Explore the inviting comfort of this well-maintained ranch-style home at 4621 S Martin Luther King Jr Boulevard, Lansing, MI. Featuring 3 bedrooms, 2 baths, and 3,320 total sq. ft., this residence offers a spacious kitchen, cozy living areas, and a finished basement with a fireplace. Outdoor enthusiasts will appreciate the fenced backyard and covered porch. Conveniently situated near schools, parks, and amenities, this home is ready to welcome its next owner. Schedule your tour today!

18. 2024-08-22
    status Pending 489-char remark

    Show marketing remark (489 chars)

    Explore the inviting comfort of this well-maintained ranch-style home at 4621 S Martin Luther King Jr Boulevard, Lansing, MI. Featuring 3 bedrooms, 2 baths, and 3,320 total sq. ft., this residence offers a spacious kitchen, cozy living areas, and a finished basement with a fireplace. Outdoor enthusiasts will appreciate the fenced backyard and covered porch. Conveniently situated near schools, parks, and amenities, this home is ready to welcome its next owner. Schedule your tour today!

19. 2024-07-22
    price $140,000 489-char remark

    Show marketing remark (489 chars)

    Explore the inviting comfort of this well-maintained ranch-style home at 4621 S Martin Luther King Jr Boulevard, Lansing, MI. Featuring 3 bedrooms, 2 baths, and 3,320 total sq. ft., this residence offers a spacious kitchen, cozy living areas, and a finished basement with a fireplace. Outdoor enthusiasts will appreciate the fenced backyard and covered porch. Conveniently situated near schools, parks, and amenities, this home is ready to welcome its next owner. Schedule your tour today!

20. 2024-07-18
    price $149,000 489-char remark

    Show marketing remark (489 chars)

    Explore the inviting comfort of this well-maintained ranch-style home at 4621 S Martin Luther King Jr Boulevard, Lansing, MI. Featuring 3 bedrooms, 2 baths, and 3,320 total sq. ft., this residence offers a spacious kitchen, cozy living areas, and a finished basement with a fireplace. Outdoor enthusiasts will appreciate the fenced backyard and covered porch. Conveniently situated near schools, parks, and amenities, this home is ready to welcome its next owner. Schedule your tour today!

21. 2024-07-01
    price $159,000 489-char remark

    Show marketing remark (489 chars)

    Explore the inviting comfort of this well-maintained ranch-style home at 4621 S Martin Luther King Jr Boulevard, Lansing, MI. Featuring 3 bedrooms, 2 baths, and 3,320 total sq. ft., this residence offers a spacious kitchen, cozy living areas, and a finished basement with a fireplace. Outdoor enthusiasts will appreciate the fenced backyard and covered porch. Conveniently situated near schools, parks, and amenities, this home is ready to welcome its next owner. Schedule your tour today!

22. 2024-06-24
    listed $164,900 Active 489-char remark

    Show marketing remark (489 chars)

    Explore the inviting comfort of this well-maintained ranch-style home at 4621 S Martin Luther King Jr Boulevard, Lansing, MI. Featuring 3 bedrooms, 2 baths, and 3,320 total sq. ft., this residence offers a spacious kitchen, cozy living areas, and a finished basement with a fireplace. Outdoor enthusiasts will appreciate the fenced backyard and covered porch. Conveniently situated near schools, parks, and amenities, this home is ready to welcome its next owner. Schedule your tour today!

23. 2024-06-24
    listed $140,000

    Show marketing remark (489 chars)

    Explore the inviting comfort of this well-maintained ranch-style home at 4621 S Martin Luther King Jr Boulevard, Lansing, MI. Featuring 3 bedrooms, 2 baths, and 3,320 total sq. ft., this residence offers a spacious kitchen, cozy living areas, and a finished basement with a fireplace. Outdoor enthusiasts will appreciate the fenced backyard and covered porch. Conveniently situated near schools, parks, and amenities, this home is ready to welcome its next owner. Schedule your tour today!

24. 2019-05-20
    soldstatus $100,000
25. 2019-05-17
    soldstatus $100,000
26. 2018-11-08
    listed $89,900

ⓘ 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: $21,256
• − Mortgage interest: −$7,674
• − Property taxes: −$2,055
• − Insurance: −$685
• − Repairs & maintenance: −$1,700
• − Management: −$1,700
• − Depreciation: −$3,985
• Taxable income: $3,456
• Est. tax owed @ 24.0%: −$829
• After-tax cash flow: $4,602/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

+63.5% since first listed

13 events — show timeline

• 2026-05-21 Listed $147,000 REALCOMP
• 2026-05-21 Listed $147,000 MiRealSource-MiMLS
• 2024-09-25 Sold (MLS) $125,000 REALCOMP
• 2024-09-25 Sold (MLS) $125,000 Greater Lansing AoR
• 2024-08-22 Pending — Greater Lansing AoR
• 2024-07-22 Price Changed $140,000 Greater Lansing AoR
• 2024-07-18 Price Changed $149,000 Greater Lansing AoR
• 2024-07-01 Price Changed $159,000 Greater Lansing AoR
• 2024-06-24 Listed $140,000 REALCOMP
• 2024-06-24 Listed $164,900 Greater Lansing AoR
• 2019-05-20 Sold (Public Records) $100,000 Public Records
• 2019-05-17 Sold (MLS) $100,000 Greater Lansing AoR
• 2018-11-08 Listed $89,900 Greater Lansing AoR

Property tax history

+11.0%/yr

Latest (2025): $8,918 · +125.3% YoY. Source: county tax records.