3912 Ruth Ave · Lansing, MI 48910

$24,168

3 bd · 1.0 ba · 1,050 sqft · SingleFamily public records · 24 Days on market

Built 1951 0.37 ac lot $23/sqft · 85% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 opportunity to buy this one story fixer upper in need of renovation located in Lansing, MI. This house has 1050 sq. ft. and is sitting on approximately . 37 acre lot with a detached garage.

Key facts

• 0.37 acre lot
• 2 garage spots
• Built 1951

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry
• Construction: Vinyl siding; Slab foundation; Built as a residence
• Exterior features: Lot measures approximately 0.37 acres (55 x 297); Road frontage: Other

Interior

• Bathrooms: One full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $24k.

Deal economics

• At list price, monthly cash flow is $919 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $24k (1.5% below list) — sets the bar for market timing.
• Cap rate 51.9% 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, 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: Pattengill School (600 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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 30% 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 $167 of loan paydown is wiped out by about $725 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago 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 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $23,805 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — 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: 5.69% ✓
• Cap rate: 51.90%
• Cash-on-cash: 162.89%
• DSCR: 8.25
• GRM: 1.5

CMA / ARV

• ARV (median comp): $157,820
• List price: $24,168
• Delta: -84.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1823 Rex St	0.11mi	3/2.0	1,067 (+2%)	9mo	$190,000	$178	81
3527 Ruth Ave	0.22mi	2/2.0 (-1)	1,060 (+1%)	2mo	$161,900	$153	77
4103 Alpha St	0.46mi	3/1.0	1,004 (-4%)	1mo	$150,000	$149	70
4608 Alpha St	0.61mi	3/1.0	1,058 (+1%)	3mo	$149,900	$142	68
3205 Aurelius Rd	0.52mi	3/1.0	995 (-5%)	3mo	$163,500	$164	64
1121 Maplehill Ave	0.43mi	2/1.5 (-1)	1,068 (+2%)	7mo	$165,000	$154	64
3526 Homewood Ave	0.70mi	3/2.0	1,019 (-3%)	5mo	$153,000	$150	54
4815 S Pennsylvania Ave	0.73mi	2/2.0 (-1)	1,070 (+2%)	3mo	$139,400	$130	51
732 Fenton St	0.72mi	3/1.0	1,133 (+8%)	12mo	$115,500	$102	43
832 Irvington Ave	0.64mi	3/1.0	938 (-11%)	11mo	$79,000	$84	43
3907 Glenwood Ave	0.58mi	4/1.5 (+1)	1,200 (+14%)	2mo	$150,000	$125	40
737 Jessop Ave	0.72mi	3/2.0	1,152 (+10%)	9mo	$110,000	$95	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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.42×
• Total profit: $57,011
• Equity at exit: $3,604

10-year hold

• IRR: —
• Equity multiple: 20.99×
• Total profit: $135,277
• Equity at exit: $2,090

Cash invested: $6,767 (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: 1.5×

Monthly cashflow live

• Estimated rent: $1,374 high
• Mortgage (P&I): −$127
• Tax est. 1.5%: −$30 /mo · $363/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $919

Break-even live

Break-even rent $211

Max offer price $24,168

Occupancy floor 28%

Sensitivity live

Price	-10% $935	-5% $927	+0% $919	+5% $910	+10% $902
Rent	-10% $810	-5% $864	+0% $919	+5% $973	+10% $1,027
Rate	-1.0pp $931	-0.5pp $925	base $919	+0.5pp $912	+1.0pp $906

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: $6,042
• Closing costs: $725
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2305 E Jolly Rd Unit 2319-04 Lansing, MI	2.0	1.5	1300	$1,420	$1.09	45d	1	0.73mi
2305 E Jolly Rd Unit 2319-14 Lansing, MI	2.0	1.5	1300	$1,345	$1.03	22d	1	0.73mi
2305 E Jolly Rd Unit 2309-07 Lansing, MI	2.0	1.5	1300	$1,440	$1.11	22d	1	0.73mi
2305 E Jolly Rd Unit 2401-21 Lansing, MI	2.0	1.5	830	$1,315	$1.58	15d	1	0.73mi
2301 E Jolly Rd Lansing, MI	1.0–2.0	1.0–1.5	1045	$1,440	$1.38	15d	10	0.77mi
910 E Jolly Rd #2 Lansing, MI	1.0–2.0	1.0	625	$895	$1.43	22d	2	0.86mi
645 E Jolly Rd Lansing, MI	1.0–2.0	1.0	775	$825	$1.06	45d	1	0.98mi
3001 Trappers Cove Trl Lansing, MI	1.0–2.0	1.0–1.5	764	$1,484	$1.94	15d	49	1.00mi
2719 Narraganset Dr Lansing, MI	4.0	1.5	1400	$1,699	$1.21	45d	1	1.01mi
1016 E Greenlawn Ave Unit 3 Lansing, MI	2.0	1.0	750	$925	$1.23	15d	1	1.01mi
3029 BeauJardin Dr Lansing, MI	1.0–3.0	1.0–2.5	1020	$1,650	$1.62	15d	159	1.07mi
4915 Belle Chase Blvd Lansing, MI	3.0–4.0	2.0–3.0	1400	$1,525	$1.09	15d	26	1.16mi
5521 Joshua St Unit ST-102 Lansing, MI	2.0	1.0	812	$975	$1.20	45d	1	1.21mi
814 Louisa St Lansing, MI	2.0	1.0	850	$950	$1.12	15d	2	1.34mi
3518 Davidson Dr Lansing, MI	2.0	2.0	850	$1,115	$1.31	45d	3	1.35mi
401 E Willard Ave Unit 19 Lansing, MI	2.0	1.0	775	$1,000	$1.29	45d	1	1.36mi
5540 Kaynorth Rd Unit 4 Lansing, MI	2.0	1.0	745	$925	$1.24	45d	1	1.37mi
3113 Forest Rd Lansing, MI	1.0–3.0	1.0–2.0	985	$1,985	$2.01	15d	9	1.41mi
4540 Collins Rd Lansing, MI	1.0–3.0	1.0–2.0	1040	$2,661	$2.56	15d	26	1.41mi

Listing history 4 events

1. 2026-05-04
   listed $24,168 Active 196-char remark

   Show marketing remark (195 chars)

   Great opportunity to buy this one story fixer upper in need of renovation located in Lansing, MI. This house has 1050 sq. ft. and is sitting on approximately . 37 acre lot with a detached garage.

2. 2026-05-04
   listed $24,168 Active 195-char remark

   Show marketing remark (195 chars)

   Great opportunity to buy this one story fixer upper in need of renovation located in Lansing, MI. This house has 1050 sq. ft. and is sitting on approximately . 37 acre lot with a detached garage.

3. 2010-11-15
   historical
4. 2010-10-26
   listed $69,900

ⓘ 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 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: $16,490
• − Mortgage interest: −$1,354
• − Property taxes: −$363
• − Insurance: −$121
• − Repairs & maintenance: −$1,319
• − Management: −$1,319
• − Depreciation: −$703
• Taxable income: $11,311
• Est. tax owed @ 24.0%: −$2,715
• After-tax cash flow: $8,308/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

-65.4% since first listed

6 events — show timeline

• 2026-05-28 Pending — MiRealSource-MiMLS
• 2026-05-28 Pending — REALCOMP
• 2026-05-04 Listed $24,168 REALCOMP
• 2026-05-04 Listed $24,168 MiRealSource-MiMLS
• 2010-11-15 Listing Removed — Greater Lansing AoR
• 2010-10-26 Listed $69,900 Greater Lansing AoR

Property tax history

+3.5%/yr

Latest (2025): $2,430 · +3.0% YoY. Source: county tax records.