600 W Hodge Ave · Lansing, MI 48910

$67,500

1 bd · 1.5 ba · 533 sqft · SingleFamily public records · 56 Days on market

Built 1942 7,405 sqft lot $127/sqft · 20% below area Est $84k · 20% 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 +25.1/30.0
• ARV discount +15.0/15.0
• 1% rule +8.6/10.0
• DSCR +8.2/10.0
• 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

Welcome to 600 W Lodge in Lansing, Michigan--a charming starter home that perfectly blends comfort, style, and convenience. This inviting property offers a warm and functional layout, ideal for first-time buyers or anyone looking to downsize without sacrificing quality. Recent updates throughout the home provide modern amenities while maintaining a cozy, welcoming feel, making it truly move-in ready. Notably, the property was recently used as an income property, generating $1,000 per month, offering immediate appeal for investors or buyers looking for supplemental income potential. Outside, you'll find a spacious yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. Located just minutes from shopping, dining, and everyday essentials, this home also offers a short drive to downtown Lansing, giving you easy access to work, entertainment, and local attractions. Whether you're starting your homeownership journey or looking for a smart investment, this prop

Key facts

• Spacious yard
• Recent updates
• Easy access to work

Tags

• RECENT UPDATES
• INCOME PROPERTY
• SPACIOUS YARD
• EASY ACCESS TO WORK

Property features AI

Exterior

• Utilities: Natural gas connected; High-speed internet available; Public water
• Home design: Ranch-style single family residence; One story (ranch)
• Construction: Vinyl siding; Built in 1942; Slab foundation
• Exterior features: Shingle roof; Lot of about 0.17 acres; Public water

Interior

• Kitchen: Range; Refrigerator; Kitchen (room listed)
• Bedrooms: Primary bedroom
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: Insulated windows; One total main room listed (additional rooms specified separately)
• Laundry & utility: Washer; Dryer; Laundry room (room listed); Natural gas water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($918 rent vs $68k).
• Recommended offer: $65k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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); 177 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $467 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $17k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,475 (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 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.36% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.41%
• DSCR: 1.42
• GRM: 6.1

CMA / ARV

• ARV (median comp): $84,154
• List price: $67,500
• Delta: -19.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
227 Astor Ave	0.27mi	2/1.0 (+1)	564 (+6%)	9mo	$71,900	$127	63
919 Loa St	0.27mi	1/1.0	467 (-12%)	8mo	$31,000	$66	58
318 E Greenlawn Ave	0.63mi	2/1.0 (+1)	580 (+9%)	0mo	$86,000	$148	48
109 E Mason St	0.66mi	2/1.0 (+1)	560 (+5%)	23mo	$46,100	$82	34
400 E Rouse St	0.73mi	1/1.0	610 (+14%)	18mo	$42,900	$70	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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $193
• Equity at exit: $10,064

10-year hold

• IRR: 11.9%
• Equity multiple: 2.03×
• Total profit: $19,483
• Equity at exit: $5,836

Cash invested: $18,900 (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: 177
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $918 high
• Mortgage (P&I): −$354
• Tax from tax record: −$195 /mo · $2,335/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $148

Break-even live

Break-even rent $730

Max offer price $67,500

Occupancy floor 79%

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3031 S Washington Ave Lansing, MI	1.0–2.0	1.0	725	$775	$1.07	43d	1	0.04mi
915 Loa St Lansing, MI	2.0	1.0	674	$999	$1.48	43d	1	0.28mi
3515 Bergman Ave Lansing, MI	2.0	1.0	640	$1,195	$1.87	21d	1	0.63mi
3533 Bergman Ave Lansing, MI	2.0	1.0	500	$900	$1.80	21d	1	0.64mi
3529 Bergman Ave Unit Bergman 3533 Lansing, MI	2.0	1.0	500	$900	$1.80	21d	1	0.65mi
911 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$750	$0.97	21d	1	0.77mi
1001 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$750	$0.97	13d	4	0.77mi
1828 Davis Ave Lansing, MI	2.0	1.0	700	$1,150	$1.64	43d	1	0.83mi
4620 S Martin Luther King Junior Blvd Lansing, MI	—	1.0	400	$675	$1.69	13d	5	1.04mi
3716 Homewood Ave Lansing, MI	2.0	1.0	692	$1,300	$1.88	21d	1	1.10mi
2114 Ferrol St Unit 1 Lansing, MI	2.0	1.0	700	$950	$1.36	21d	1	1.16mi
3334 Pleasant Grove Rd Unit 19 Lansing, MI	2.0	1.0	700	$999	$1.43	13d	1	1.17mi
1016 E Greenlawn Ave Unit 3 Lansing, MI	2.0	1.0	750	$925	$1.23	13d	1	1.19mi
3606 Pleasant Grove Rd Lansing, MI	1.0–2.0	1.0	812	$850	$1.05	43d	1	1.24mi
4215 Glenwood Ave Apt 1 Lansing, MI	—	1.0	600	$625	$1.04	43d	1	1.30mi
4318 Pleasant Grove Rd Lansing, MI	1.0–3.0	1.0–2.0	722	$900	$1.25	13d	1	1.40mi
645 E Jolly Rd Lansing, MI	1.0–2.0	1.0	775	$700	$0.90	43d	1	1.48mi

Listing history 38 events

1. 2026-06-18
   days on market $67,500 Active 56 DOM
2. 2026-06-17
   days on market $67,500 Active 55 DOM
3. 2026-06-16
   days on market $67,500 Active 54 DOM
4. 2026-06-15
   days on market $67,500 Active 53 DOM
5. 2026-06-14
   days on market $67,500 Active 51 DOM
6. 2026-06-13
   days on market $67,500 Active 50 DOM
7. 2026-06-10
   days on market $67,500 Active 48 DOM
8. 2026-06-09
   days on market $67,500 Active 47 DOM
9. 2026-06-08
   days on market $67,500 Active 46 DOM
10. 2026-06-07
    days on market $67,500 Active 45 DOM
11. 2026-06-05
    days on market $67,500 Active 42 DOM
12. 2026-06-03
    days on market $67,500 Active 41 DOM
13. 2026-06-02
    days on market $67,500 Active 40 DOM
14. 2026-06-01
    days on market $67,500 Active 39 DOM
15. 2026-05-31
    days on market $67,500 Active 38 DOM
16. 2026-05-30
    days on market $67,500 Active 37 DOM
17. 2026-05-04
    price $74,900 999-char remark

    Show marketing remark (999 chars)

    Welcome to 600 W Lodge in Lansing, Michigan--a charming starter home that perfectly blends comfort, style, and convenience. This inviting property offers a warm and functional layout, ideal for first-time buyers or anyone looking to downsize without sacrificing quality. Recent updates throughout the home provide modern amenities while maintaining a cozy, welcoming feel, making it truly move-in ready. Notably, the property was recently used as an income property, generating $1,000 per month, offering immediate appeal for investors or buyers looking for supplemental income potential. Outside, you'll find a spacious yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. Located just minutes from shopping, dining, and everyday essentials, this home also offers a short drive to downtown Lansing, giving you easy access to work, entertainment, and local attractions. Whether you're starting your homeownership journey or looking for a smart investment, this prop

18. 2026-05-04
    price $74,900 999-char remark

    Show marketing remark (999 chars)

    Welcome to 600 W Lodge in Lansing, Michigan--a charming starter home that perfectly blends comfort, style, and convenience. This inviting property offers a warm and functional layout, ideal for first-time buyers or anyone looking to downsize without sacrificing quality. Recent updates throughout the home provide modern amenities while maintaining a cozy, welcoming feel, making it truly move-in ready. Notably, the property was recently used as an income property, generating $1,000 per month, offering immediate appeal for investors or buyers looking for supplemental income potential. Outside, you'll find a spacious yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. Located just minutes from shopping, dining, and everyday essentials, this home also offers a short drive to downtown Lansing, giving you easy access to work, entertainment, and local attractions. Whether you're starting your homeownership journey or looking for a smart investment, this prop

19. 2026-05-04
    price $74,900

    Show marketing remark (999 chars)

    Welcome to 600 W Lodge in Lansing, Michigan--a charming starter home that perfectly blends comfort, style, and convenience. This inviting property offers a warm and functional layout, ideal for first-time buyers or anyone looking to downsize without sacrificing quality. Recent updates throughout the home provide modern amenities while maintaining a cozy, welcoming feel, making it truly move-in ready. Notably, the property was recently used as an income property, generating $1,000 per month, offering immediate appeal for investors or buyers looking for supplemental income potential. Outside, you'll find a spacious yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. Located just minutes from shopping, dining, and everyday essentials, this home also offers a short drive to downtown Lansing, giving you easy access to work, entertainment, and local attractions. Whether you're starting your homeownership journey or looking for a smart investment, this prop

20. 2026-04-23
    listed $84,900 Active 999-char remark

    Show marketing remark (999 chars)

    Welcome to 600 W Lodge in Lansing, Michigan--a charming starter home that perfectly blends comfort, style, and convenience. This inviting property offers a warm and functional layout, ideal for first-time buyers or anyone looking to downsize without sacrificing quality. Recent updates throughout the home provide modern amenities while maintaining a cozy, welcoming feel, making it truly move-in ready. Notably, the property was recently used as an income property, generating $1,000 per month, offering immediate appeal for investors or buyers looking for supplemental income potential. Outside, you'll find a spacious yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. Located just minutes from shopping, dining, and everyday essentials, this home also offers a short drive to downtown Lansing, giving you easy access to work, entertainment, and local attractions. Whether you're starting your homeownership journey or looking for a smart investment, this prop

21. 2026-04-23
    listed $84,900 Active 999-char remark

    Show marketing remark (999 chars)

    Welcome to 600 W Lodge in Lansing, Michigan--a charming starter home that perfectly blends comfort, style, and convenience. This inviting property offers a warm and functional layout, ideal for first-time buyers or anyone looking to downsize without sacrificing quality. Recent updates throughout the home provide modern amenities while maintaining a cozy, welcoming feel, making it truly move-in ready. Notably, the property was recently used as an income property, generating $1,000 per month, offering immediate appeal for investors or buyers looking for supplemental income potential. Outside, you'll find a spacious yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. Located just minutes from shopping, dining, and everyday essentials, this home also offers a short drive to downtown Lansing, giving you easy access to work, entertainment, and local attractions. Whether you're starting your homeownership journey or looking for a smart investment, this prop

22. 2026-04-23
    listed $84,900 Active

    Show marketing remark (999 chars)

    Welcome to 600 W Lodge in Lansing, Michigan--a charming starter home that perfectly blends comfort, style, and convenience. This inviting property offers a warm and functional layout, ideal for first-time buyers or anyone looking to downsize without sacrificing quality. Recent updates throughout the home provide modern amenities while maintaining a cozy, welcoming feel, making it truly move-in ready. Notably, the property was recently used as an income property, generating $1,000 per month, offering immediate appeal for investors or buyers looking for supplemental income potential. Outside, you'll find a spacious yard with plenty of room for entertaining, gardening, or simply enjoying the outdoors. Located just minutes from shopping, dining, and everyday essentials, this home also offers a short drive to downtown Lansing, giving you easy access to work, entertainment, and local attractions. Whether you're starting your homeownership journey or looking for a smart investment, this prop

23. 2023-06-02
    soldstatus $60,000
24. 2023-06-02
    soldstatus $60,000
25. 2023-05-25
    soldstatus $60,000 Sold
26. 2023-05-25
    soldstatus $60,000 Closed
27. 2023-05-25
    soldstatus $60,000 Closed
28. 2023-05-03
    status Pending
29. 2023-05-03
    status Pending
30. 2023-05-03
    status Pending
31. 2023-04-04
    price $62,000
32. 2023-04-04
    price $62,000
33. 2023-03-31
    listed $62,000 Active
34. 2023-03-16
    listed $68,500 Active
35. 2023-03-16
    listed $68,500 Active
36. 2023-03-13
    historical $68,500
37. 2023-03-13
    historical $68,500
38. 2000-10-13
    soldstatus $45,000

ⓘ 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: $2,335 · $195/mo
• Projected year-2 tax: $2,335 · $195/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 5/10 Major FEMA zone X (unshaded) · 24% 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: $11,012
• − Mortgage interest: −$3,781
• − Property taxes: −$2,335
• − Insurance: −$338
• − Repairs & maintenance: −$881
• − Management: −$881
• − Depreciation: −$1,964
• Taxable income: $833
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $1,579/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

+50.0% since first listed

25 events — show timeline

• 2026-05-29 Price Changed $67,500 MiRealSource-MiMLS
• 2026-05-29 Price Changed $67,500 REALCOMP
• 2026-05-29 Price Changed $67,500 SW Michigan MLS
• 2026-05-04 Price Changed $74,900 MiRealSource-MiMLS
• 2026-05-04 Price Changed $74,900 REALCOMP
• 2026-05-04 Price Changed $74,900 SW Michigan MLS
• 2026-04-23 Listed $84,900 REALCOMP
• 2026-04-23 Listed $84,900 SW Michigan MLS
• 2026-04-23 Listed $84,900 MiRealSource-MiMLS
• 2023-06-02 Sold (Public Records) $60,000 Public Records
• 2023-06-02 Sold (Public Records) $60,000 Public Records
• 2023-05-25 Sold (MLS) $60,000 MiRealSource-MiMLS
• 2023-05-25 Sold (MLS) $60,000 Greater Lansing AoR
• 2023-05-25 Sold (MLS) $60,000 REALCOMP
• 2023-05-03 Pending — MiRealSource-MiMLS
• 2023-05-03 Pending — REALCOMP
• 2023-05-03 Pending — Greater Lansing AoR
• 2023-04-04 Price Changed $62,000 MiRealSource-MiMLS
• 2023-04-04 Price Changed $62,000 REALCOMP
• 2023-03-31 Listed $62,000 Greater Lansing AoR
• 2023-03-16 Listed $68,500 MiRealSource-MiMLS
• 2023-03-16 Listed $68,500 REALCOMP
• 2023-03-13 Coming Soon $68,500 MiRealSource-MiMLS
• 2023-03-13 Coming Soon $68,500 REALCOMP
• 2000-10-13 Sold (Public Records) $45,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $2,335 · +3.0% YoY. Source: county tax records.