4414 S Martin Luther King JR Blvd · Lansing, MI 48910

$119,999

3 bd · 1.5 ba · 1,592 sqft · SingleFamily public records · 149 Days on market

Built 1910 0.46 ac lot $75/sqft · 18% below area Est $146k · 18% 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 +25.9/30.0
• ARV discount +15.0/15.0
• 1% rule +9.6/10.0
• DSCR +8.7/10.0
• 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 4414 S Martin Luther King this 2-unit Property offers Main floor with a full kitchen, full bathroom and 3-4 bedrooms. There isa huge 2-3 car attached garage with the property. Huge backyard great for kids and pets. Lots of parking. Property has a newer furnace, oversized water heater and new electric heat on the second floor apartment. Upstairs unit is also set up for a 2-unit rental with 1bedroom live in one and make money from the other one. F-Commercial Zoning- has been used as 2 units but could be converted back to1 unit.

Key facts

• New furnace
• Full kitchen
• Full bathroom

Tags

• FULL KITCHEN
• FULL BATHROOM
• HUGE BACKYARD
• NEW FURNACE
• OVERSIZED WATER HEATER
• NEW ELECTRIC HEAT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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); 175 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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 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 $829 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 27 sale attempts since 8y 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.
• Current owner paid $100k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,599 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.46% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.53%
• DSCR: 1.47
• GRM: 5.7

CMA / ARV

• ARV (median comp): $145,968
• List price: $119,999
• Delta: -17.79%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1729 Reo Rd	0.41mi	3/1.5	1,627 (+2%)	2mo	$184,900	$114	75
4916 Tressa Dr	0.40mi	3/1.5	1,683 (+6%)	5mo	$145,000	$86	67
4907 Burchfield Ave	0.38mi	3/1.5	1,437 (-10%)	3mo	$140,000	$97	64
4926 Burchfield Ave	0.40mi	3/1.0	1,452 (-9%)	3mo	$183,000	$126	63
1904 Hillcrest St	0.57mi	3/1.0	1,514 (-5%)	2mo	$155,000	$102	61
4407 Burchfield Ave	0.25mi	2/1.5 (-1)	1,804 (+13%)	5mo	$125,000	$69	57
5221 Tulip Ave	0.65mi	3/1.0	1,501 (-6%)	4mo	$172,000	$115	55
3430 Palmer St	0.69mi	2/1.0 (-1)	1,560 (-2%)	3mo	$170,000	$109	55
3437 Harold St	0.67mi	2/1.5 (-1)	1,504 (-6%)	5mo	$153,500	$102	50
2010 Ferrol St	0.71mi	4/1.5 (+1)	1,472 (-8%)	4mo	$170,000	$115	46
825 Ferley St	0.64mi	2/2.0 (-1)	1,426 (-10%)	5mo	$184,000	$129	41
4613 Stafford Ave	0.75mi	2/1.0 (-1)	1,378 (-13%)	5mo	$155,000	$112	31

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: 2.0%
• Equity multiple: 1.08×
• Total profit: $2,593
• Equity at exit: $17,892

10-year hold

• IRR: 13.6%
• Equity multiple: 2.20×
• Total profit: $40,254
• Equity at exit: $10,375

Cash invested: $33,600 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,755 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$413 /mo · $4,952/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $295

Break-even live

Break-even rent $1,382

Max offer price $119,999

Occupancy floor 78%

Sensitivity live

Price	-10% $363	-5% $329	+0% $295	+5% $261	+10% $227
Rent	-10% $156	-5% $225	+0% $295	+5% $364	+10% $434
Rate	-1.0pp $355	-0.5pp $325	base $295	+0.5pp $264	+1.0pp $232

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2612 Fielding Dr Lansing, MI	2.0	1.0	1100	$1,095	$1.00	45d	1	0.99mi
3021 Midwood St Lansing, MI	4.0	2.0	2060	$2,495	$1.21	45d	1	1.32mi
2528 Forest Ave Lansing, MI	4.0	1.0	1175	$1,699	$1.45	45d	1	1.38mi
4106 Stillwell Ave Lansing, MI	3.0	1.5	1127	$2,100	$1.86	22d	1	1.47mi

Listing history 50 events

1. 2026-06-21
   days on market $119,999 Active 149 DOM
2. 2026-06-18
   days on market $119,999 Active 146 DOM
3. 2026-06-17
   days on market $119,999 Active 145 DOM
4. 2026-06-16
   days on market $119,999 Active 144 DOM
5. 2026-06-15
   days on market $119,999 Active 143 DOM
6. 2026-06-14
   days on market $119,999 Active 141 DOM
7. 2026-06-13
   days on market $119,999 Active 140 DOM
8. 2026-06-10
   days on market $119,999 Active 138 DOM
9. 2026-06-09
   days on market $119,999 Active 137 DOM
10. 2026-06-08
    days on market $119,999 Active 136 DOM
11. 2026-06-07
    days on market $119,999 Active 135 DOM
12. 2026-06-05
    days on market $119,999 Active 132 DOM
13. 2026-06-03
    days on market $119,999 Active 131 DOM
14. 2026-06-02
    days on market $119,999 Active 130 DOM
15. 2026-06-01
    days on market $119,999 Active 129 DOM
16. 2026-05-31
    days on market $119,999 Active 128 DOM
17. 2026-05-30
    days on market $119,999 Active 127 DOM
18. 2026-02-05
    historical
19. 2026-01-26
    listed $119,999 Active

    Show marketing remark (542 chars)

    Welcome to 4414 S Martin Luther King this 2-unit Property offers Main floor with a full kitchen, full bathroom and 3-4 bedrooms. There isa huge 2-3 car attached garage with the property. Huge backyard great for kids and pets. Lots of parking. Property has a newer furnace, oversized water heater and new electric heat on the second floor apartment. Upstairs unit is also set up for a 2-unit rental with 1bedroom live in one and make money from the other one. F-Commercial Zoning- has been used as 2 units but could be converted back to1 unit.

20. 2026-01-26
    listed $119,999 Active 542-char remark

    Show marketing remark (542 chars)

    Welcome to 4414 S Martin Luther King this 2-unit Property offers Main floor with a full kitchen, full bathroom and 3-4 bedrooms. There isa huge 2-3 car attached garage with the property. Huge backyard great for kids and pets. Lots of parking. Property has a newer furnace, oversized water heater and new electric heat on the second floor apartment. Upstairs unit is also set up for a 2-unit rental with 1bedroom live in one and make money from the other one. F-Commercial Zoning- has been used as 2 units but could be converted back to1 unit.

21. 2026-01-23
    listed $119,999 Active
22. 2026-01-23
    historical
23. 2026-01-23
    listed $119,999 Active
24. 2026-01-23
    historical
25. 2026-01-22
    historical
26. 2026-01-22
    historical
27. 2026-01-20
    listed $119,999 Active
28. 2026-01-20
    listed $119,999 Active
29. 2025-07-07
    price $119,999
30. 2025-07-07
    price $119,999
31. 2025-03-04
    status Active
32. 2025-03-03
    historical
33. 2025-01-02
    status Active
34. 2025-01-02
    status Active
35. 2024-12-16
    historical
36. 2024-12-16
    historical
37. 2024-08-28
    listed $139,999 Active
38. 2024-08-28
    listed $139,999 Active
39. 2024-08-28
    historical
40. 2024-08-28
    historical
41. 2024-08-28
    historical
42. 2024-04-14
    listed $139,999 Active
43. 2024-04-14
    listed $139,999 Active
44. 2024-04-12
    historical
45. 2024-04-12
    historical
46. 2024-04-12
    listed $139,999 Active
47. 2022-09-16
    soldstatus $100,000
48. 2022-04-13
    historical
49. 2022-02-02
    historical
50. 2022-02-02
    historical

ⓘ 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: $4,952 · $413/mo
• Projected year-2 tax: $4,952 · $413/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $21,066
• − Mortgage interest: −$6,722
• − Property taxes: −$4,952
• − Insurance: −$600
• − Repairs & maintenance: −$1,685
• − Management: −$1,685
• − Depreciation: −$3,491
• Taxable income: $1,930
• Est. tax owed @ 24.0%: −$463
• After-tax cash flow: $3,075/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

+42.9% since first listed

58 events — show timeline

• 2026-02-05 Listing Removed — REALCOMP
• 2026-01-26 Listed $119,999 REALCOMP
• 2026-01-26 Listed $119,999 MiRealSource-MiMLS
• 2026-01-23 Listed $119,999 REALCOMP
• 2026-01-23 Listing Removed — MiRealSource-MiMLS
• 2026-01-23 Listed $119,999 MiRealSource-MiMLS
• 2026-01-23 Listing Removed — REALCOMP
• 2026-01-22 Listing Removed — MiRealSource-MiMLS
• 2026-01-22 Listing Removed — REALCOMP
• 2026-01-20 Listed $119,999 MiRealSource-MiMLS
• 2026-01-20 Listed $119,999 REALCOMP
• 2025-07-07 Price Changed $119,999 MiRealSource-MiMLS
• 2025-07-07 Price Changed $119,999 REALCOMP
• 2025-03-04 Relisted — REALCOMP
• 2025-03-03 Listing Removed — REALCOMP
• 2025-01-02 Relisted — MiRealSource-MiMLS
• 2025-01-02 Relisted — REALCOMP
• 2024-12-16 Listing Removed — MiRealSource-MiMLS
• 2024-12-16 Listing Removed — REALCOMP
• 2024-08-28 Listing Removed — MiRealSource-MiMLS
• 2024-08-28 Listing Removed — MiRealSource-MiMLS
• 2024-08-28 Listing Removed — REALCOMP
• 2024-08-28 Listed $139,999 MiRealSource-MiMLS
• 2024-08-28 Listed $139,999 REALCOMP
• 2024-04-14 Listed $139,999 MiRealSource-MiMLS
• 2024-04-14 Listed $139,999 REALCOMP
• 2024-04-12 Coming Soon — MiRealSource-MiMLS
• 2024-04-12 Coming Soon — REALCOMP
• 2024-04-12 Listed $139,999 MiRealSource-MiMLS
• 2022-09-16 Sold (Public Records) $100,000 Public Records
• 2022-04-13 Listing Removed — MiRealSource-MiMLS
• 2022-02-02 Listing Removed — Greater Lansing AoR
• 2022-02-02 Listing Removed — REALCOMP
• 2021-12-13 Price Changed $119,900 Greater Lansing AoR
• 2021-12-12 Listed $119,900 MiRealSource-MiMLS
• 2021-12-06 Listed $139,900 Greater Lansing AoR
• 2021-12-06 Listed $119,900 REALCOMP
• 2021-11-24 Listing Removed — Greater Lansing AoR
• 2021-11-24 Listing Removed — REALCOMP
• 2021-10-15 Listed $139,900 Greater Lansing AoR
• 2021-10-15 Listed $139,900 REALCOMP
• 2021-10-10 Listing Removed — REALCOMP
• 2021-10-10 Listing Removed — Greater Lansing AoR
• 2021-08-02 Listed $134,900 REALCOMP
• 2021-08-02 Listed $134,900 Greater Lansing AoR
• 2021-05-13 Listing Removed — REALCOMP
• 2021-05-13 Listing Removed — Greater Lansing AoR
• 2021-04-13 Listed $149,900 REALCOMP
• 2021-04-13 Listed $149,900 Greater Lansing AoR
• 2020-07-13 Sold (Public Records) $48,000 Public Records
• 2019-04-05 Listing Removed — REALCOMP
• 2019-04-05 Listing Removed — Greater Lansing AoR
• 2018-10-05 Listed $64,900 REALCOMP
• 2018-10-05 Listed $64,900 Greater Lansing AoR
• 2018-08-30 Listing Removed — Greater Lansing AoR
• 2018-08-30 Listing Removed — REALCOMP
• 2018-02-25 Listed $84,000 Greater Lansing AoR
• 2018-02-25 Listed $84,000 REALCOMP

Property tax history

+6.1%/yr

Latest (2025): $4,952 · +3.0% YoY. Source: county tax records.