528 S Fairview Ave · Lansing, MI 48912

$29,900

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 53 Days on market

Built 1916 4,356 sqft lot ↓ 25% since listing

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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
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment property in a great Lansing location, close to the Avenue district. Nice size lot with alley access. Would make a great rental property or starter home. Sold as is. Motivated seller, make an offer.

Key facts

• 4,356 sq ft lot
• Built 1916
• Listed 53 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $817 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 39.1% 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 (+7.0%/yr); 98 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $207 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 + 7.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; 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 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1916 — 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. 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?
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: 4.33% ✓
• Cap rate: 39.09%
• Cash-on-cash: 117.15%
• DSCR: 6.21
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $70,656
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 S Clemens Ave	0.04mi	2/1.0	693 (-10%)	2mo	$58,000	$84	80
421 S Clemens Ave	0.11mi	2/1.0	839 (+9%)	1mo	$110,000	$131	78
520 S Leslie St	0.19mi	2/1.0	840 (+9%)	1mo	$113,000	$135	75
411 S Hayford Ave	0.18mi	2/1.0	689 (-10%)	2mo	$51,000	$74	73
629 S Foster Ave	0.23mi	2/1.0	688 (-10%)	2mo	$56,000	$81	71
510 Regent St	0.13mi	3/1.0 (+1)	836 (+9%)	5mo	$77,000	$92	70
515 S Clemens Ave	0.05mi	1/1.0 (-1)	659 (-14%)	5mo	$42,000	$64	65
1119 Leslie St	0.43mi	2/1.0	824 (+7%)	5mo	$64,000	$78	63
312 S Francis Ave	0.31mi	2/1.0	680 (-12%)	4mo	$82,900	$122	63
1111 Regent St	0.40mi	1/1.0 (-1)	836 (+9%)	3mo	$25,000	$30	59
1245 Parkview St	0.73mi	3/1.0 (+1)	702 (-9%)	0mo	$112,000	$160	46
1128 Hickory St	0.69mi	2/1.0	860 (+12%)	4mo	$95,000	$110	45

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: —
• Equity multiple: 7.29×
• Total profit: $52,683
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 17.40×
• Total profit: $137,300
• Equity at exit: $2,585

Cash invested: $8,372 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,296 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $817

Break-even live

Break-even rent $262

Max offer price $29,900

Occupancy floor 32%

Sensitivity live

Price	-10% $838	-5% $828	+0% $817	+5% $807	+10% $797
Rent	-10% $715	-5% $766	+0% $817	+5% $868	+10% $920
Rate	-1.0pp $832	-0.5pp $825	base $817	+0.5pp $810	+1.0pp $802

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2208 Marcus St Lansing, MI	3.0	1.0	616	$1,175	$1.91	22d	1	0.13mi
2010 E Michigan Ave Unit 209 Lansing, MI	1.0	1.0	730	$1,350	$1.85	14d	1	0.37mi
2222 E Michigan Ave Unit 206 Lansing, MI	2.0	2.0	900	$1,700	$1.89	44d	1	0.40mi
2222 E Michigan Ave Unit 411 Lansing, MI	2.0	2.0	900	$1,700	$1.89	22d	1	0.40mi
1629 E Michigan Ave Unit 306 Lansing, MI	2.0	1.0	901	$1,550	$1.72	44d	1	0.46mi
910 Dakin St Lansing, MI	3.0	1.0	908	$1,295	$1.43	44d	1	0.50mi
1030 S Holmes St Lansing, MI	1.0	1.0–1.5	812	$1,595	$1.96	14d	11	0.66mi
414 N Hayford Ave Lansing, MI	3.0	1.0	990	$1,425	$1.44	44d	1	0.70mi
1223 Bensch St Lansing, MI	3.0	1.0	850	$1,200	$1.41	22d	1	0.73mi
1100 Malcolm X St Unit B Lansing, MI	2.0	1.0	979	$1,050	$1.07	14d	1	0.75mi
805 Bement St Unit Hosmer 507 Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	0.95mi
507 S Hosmer St Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	0.96mi
732 Maryland Ave Lansing, MI	1.0	1.0	771	$1,550	$2.01	22d	1	1.04mi
905 E Shiawassee St Unit 837-02 Lansing, MI	2.0	1.0	800	$750	$0.94	44d	1	1.09mi
905 E Shiawassee St Unit 837-01 Lansing, MI	2.0	1.0	800	$850	$1.06	44d	1	1.09mi
1420 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$750	$1.07	22d	3	1.12mi
936 N Fairview Ave Lansing, MI	1.0–2.0	1.0	825	$1,245	$1.51	44d	2	1.12mi
1424 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$915	$1.31	44d	1	1.13mi
824 Cleveland St Lansing, MI	2.0	1.0	839	$1,150	$1.37	22d	1	1.18mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	14d	9	1.18mi
730 Johnson Ave Lansing, MI	2.0	1.0	840	$1,225	$1.46	44d	1	1.19mi
2620 Senate Dr Lansing, MI	1.0–2.0	1.0–2.0	950	$1,800	$1.89	44d	1	1.19mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	44d	1	1.32mi
1228 N Fairview Ave Lansing, MI	3.0	2.0	1100	$1,700	$1.55	44d	1	1.35mi
313 E Saint Joseph St Lansing, MI	2.0	1.0	475	$1,150	$2.42	14d	7	1.35mi
1115 Chester Rd Unit Two Bedroom Lansing, MI	2.0	1.5	1100	$1,200	$1.09	44d	1	1.35mi
2937 Kenwick Cir Unit 2928 2931 2936 Lansing, MI	2.0	1.0	922	$999	$1.08	22d	1	1.36mi
509 Cherry St Unit 2 Lansing, MI	1.0	1.0	550	$975	$1.77	22d	1	1.37mi
1245 Weber Dr Unit 2 Lansing, MI	2.0	1.0	700	$1,250	$1.79	44d	1	1.40mi
620 May St Lansing, MI	1.0–2.0	1.0–2.0	1126	$1,578	$1.40	14d	12	1.46mi

Listing history 11 events

1. 2024-12-17
   status Pending
2. 2023-07-25
   status Pending 214-char remark

   Show marketing remark (214 chars)

   Great investment property in a great Lansing location, close to the Avenue district. Nice size lot with alley access. Would make a great rental property or starter home. Sold as is. Motivated seller, make an offer.

3. 2023-07-25
   status Pending

   Show marketing remark (214 chars)

   Great investment property in a great Lansing location, close to the Avenue district. Nice size lot with alley access. Would make a great rental property or starter home. Sold as is. Motivated seller, make an offer.

4. 2023-06-22
   status Active 214-char remark

   Show marketing remark (214 chars)

   Great investment property in a great Lansing location, close to the Avenue district. Nice size lot with alley access. Would make a great rental property or starter home. Sold as is. Motivated seller, make an offer.

5. 2023-06-22
   status Active

   Show marketing remark (214 chars)

   Great investment property in a great Lansing location, close to the Avenue district. Nice size lot with alley access. Would make a great rental property or starter home. Sold as is. Motivated seller, make an offer.

6. 2023-06-04
   status Pending 214-char remark

   Show marketing remark (214 chars)

   Great investment property in a great Lansing location, close to the Avenue district. Nice size lot with alley access. Would make a great rental property or starter home. Sold as is. Motivated seller, make an offer.

7. 2023-06-04
   status Pending

   Show marketing remark (214 chars)

   Great investment property in a great Lansing location, close to the Avenue district. Nice size lot with alley access. Would make a great rental property or starter home. Sold as is. Motivated seller, make an offer.

8. 2023-06-02
   price $29,900 214-char remark

   Show marketing remark (214 chars)

   Great investment property in a great Lansing location, close to the Avenue district. Nice size lot with alley access. Would make a great rental property or starter home. Sold as is. Motivated seller, make an offer.

9. 2023-06-01
   price $29,900
10. 2023-05-15
    listed $39,900 Active
11. 2023-05-12
    listed $39,900 Active 214-char remark

    Show marketing remark (214 chars)

    Great investment property in a great Lansing location, close to the Avenue district. Nice size lot with alley access. Would make a great rental property or starter home. Sold as is. Motivated seller, make an offer.

ⓘ 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 · 15 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: $15,553
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$1,244
• − Management: −$1,244
• − Depreciation: −$870
• Taxable income: $9,922
• Est. tax owed @ 24.0%: −$2,381
• After-tax cash flow: $7,426/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

-25.1% since first listed

11 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2023-07-25 Pending — MiRealSource-MiMLS
• 2023-07-25 Pending — REALCOMP
• 2023-06-22 Relisted — MiRealSource-MiMLS
• 2023-06-22 Relisted — REALCOMP
• 2023-06-04 Pending — MiRealSource-MiMLS
• 2023-06-04 Pending — REALCOMP
• 2023-06-02 Price Changed $29,900 MiRealSource-MiMLS
• 2023-06-01 Price Changed $29,900 REALCOMP
• 2023-05-15 Listed $39,900 REALCOMP
• 2023-05-12 Listed $39,900 MiRealSource-MiMLS

Property tax history

+7.8%/yr

Latest (2025): $2,544 · -4.7% YoY. Source: county tax records.