2813 Greenbelt Dr · Lansing, MI 48911

$112,000

3 bd · 1.0 ba · 894 sqft · SingleFamily public records · 9 Days on market

Built 1956 7,405 sqft lot Est $142k · 21% under

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Why this score? — see what drove the C+ 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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.6/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2813 Greenbelt Drive!! This remodeled 3 bedroom one bath ranch has an open floor plan with cathedral ceilings making it feel more open and spacious. This home features many updates including: new paint, flooring, New roof in 2021,New AC and Furnace in 2025, new siding, soffit and facia in2026.The back yard is fenced in which is nice for kids, pets, or entertainment around a firepit. This home is conveniently located just a short drive to downtown Lansing and Michigan State University. Don't miss out on this charming home schedule your showing today.

Key facts

• Open floor plan
• New ac and furnace
• New siding

Tags

• REMODELED RANCH
• OPEN FLOOR PLAN
• CATHEDRAL CEILINGS
• NEW ROOF
• NEW AC AND FURNACE
• NEW SIDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Cap rate 7.9% 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 (+9.9%/yr); 144 active listings in the ZIP; 23 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 27y ago; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $112k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,000

Questions for the listing agent

1. Built in 1956 — 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: 1.06% ✓
• Cap rate: 7.90%
• Cash-on-cash: 5.75%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $142,146
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2813 Greenbelt Dr	0.00mi	3/1.0	894 (0%)	1mo	$120,000	$134	99
2820 Reo Rd	0.30mi	2/1.0 (-1)	904 (+1%)	2mo	$144,000	$159	78
4416 Ballard Rd	0.20mi	2/1.0 (-1)	933 (+4%)	3mo	$82,000	$88	76
3330 Avalon St	0.52mi	3/1.0	905 (+1%)	4mo	$129,900	$144	71
3536 Maybel St	0.60mi	3/1.0	905 (+1%)	4mo	$145,000	$160	67
3211 S Deerfield Ave	0.56mi	2/1.0 (-1)	912 (+2%)	4mo	$127,000	$139	62
4018 Clayborn Rd	0.68mi	3/1.0	864 (-3%)	5mo	$163,000	$189	59
3714 Brighton Dr	0.71mi	3/1.5	864 (-3%)	2mo	$163,000	$189	58
3600 Ronald St	0.57mi	3/1.0	966 (+8%)	4mo	$155,000	$160	56
4927 Starr Ave	0.65mi	3/1.0	812 (-9%)	1mo	$98,500	$121	54
4920 Ballard Rd	0.50mi	3/1.5	1,009 (+13%)	0mo	$167,000	$166	53
4908 Hughes Rd	0.67mi	2/1.0 (-1)	816 (-9%)	3mo	$90,000	$110	47

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-2,293
• Equity at exit: $16,700

10-year hold

• IRR: 12.7%
• Equity multiple: 2.24×
• Total profit: $38,934
• Equity at exit: $9,684

Cash invested: $31,360 (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 48911

• Rents YoY: 9.9%
• Active inventory: 144
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,185 high
• Mortgage (P&I): −$587
• Tax from tax record: −$152 /mo · $1,826/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $150

Break-even live

Break-even rent $995

Max offer price $112,000

Occupancy floor 82%

Sensitivity live

Price	-10% $214	-5% $182	+0% $150	+5% $119	+10% $87
Rent	-10% $57	-5% $103	+0% $150	+5% $197	+10% $244
Rate	-1.0pp $207	-0.5pp $179	base $150	+0.5pp $121	+1.0pp $92

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4125 Ingham St Lansing, MI	3.0	1.0	933	$1,300	$1.39	45d	1	0.07mi
2612 Fielding Dr Lansing, MI	2.0	1.0	1100	$1,095	$1.00	45d	1	0.09mi
2823 Hillcrest St Lansing, MI	3.0	1.0	925	$1,245	$1.35	22d	1	0.14mi
2920 Hillcrest St Lansing, MI	3.0	1.0	1040	$1,225	$1.18	45d	1	0.18mi
4318 Pleasant Grove Rd Lansing, MI	1.0–3.0	1.0–2.0	722	$1,350	$1.87	15d	1	0.34mi
3606 Pleasant Grove Rd Lansing, MI	1.0–2.0	1.0	812	$1,100	$1.35	45d	1	0.43mi
2114 Ferrol St Unit 1 Lansing, MI	2.0	1.0	700	$950	$1.36	22d	1	0.48mi
3334 Pleasant Grove Rd Apt 10 Lansing, MI	2.0	1.0	800	$900	$1.12	45d	1	0.59mi
3334 Pleasant Grove Rd Apt 15 Lansing, MI	2.0	1.0	800	$950	$1.19	45d	1	0.59mi
3334 Pleasant Grove Rd Unit 19 Lansing, MI	2.0	1.0	700	$999	$1.43	15d	1	0.59mi
3501 Simken Dr Lansing, MI	2.0	1.0	900	$950	$1.06	45d	1	0.61mi
2009 W Holmes Rd Unit 11 Lansing, MI	2.0	1.0	800	$925	$1.16	15d	1	0.66mi
3530 W Jolly Rd Unit 6 Lansing, MI	2.0	1.0	1049	$1,100	$1.05	22d	1	0.71mi
2711 Dunlap St Lansing, MI	3.0	1.0	1020	$1,350	$1.32	45d	1	0.75mi
2815 Mersey Ln Lansing, MI	2.0–3.0	2.0	1050	$1,325	$1.26	15d	2	1.07mi
1115 Dorchester Cir Lansing, MI	2.0	1.0	850	$855	$1.01	15d	5	1.11mi
4030 Hartford Rd Lansing, MI	1.0–2.0	1.0	640	$1,094	$1.71	15d	42	1.11mi
2420 Radford Rd Lansing, MI	2.0	1.0	768	$1,200	$1.56	15d	1	1.13mi
1001 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$850	$1.10	15d	4	1.15mi
911 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$1,000	$1.29	22d	1	1.22mi
3407 W Mount Hope Ave Lansing, MI	2.0	2.0	1000	$995	$0.99	15d	1	1.39mi
915 Loa St Lansing, MI	2.0	1.0	674	$999	$1.48	45d	1	1.39mi
3313 W Mt Hope Ave Lansing, MI	2.0	1.0–2.0	869	$1,296	$1.49	15d	6	1.45mi

Listing history 23 events

1. 2026-04-23
   status Pending 566-char remark

   Show marketing remark (566 chars)

   Welcome to 2813 Greenbelt Drive!! This remodeled 3 bedroom one bath ranch has an open floor plan with cathedral ceilings making it feel more open and spacious. This home features many updates including: new paint, flooring, New roof in 2021,New AC and Furnace in 2025, new siding, soffit and facia in2026.The back yard is fenced in which is nice for kids, pets, or entertainment around a firepit. This home is conveniently located just a short drive to downtown Lansing and Michigan State University. Don't miss out on this charming home schedule your showing today.

2. 2026-04-23
   status Pending

   Show marketing remark (566 chars)

   Welcome to 2813 Greenbelt Drive!! This remodeled 3 bedroom one bath ranch has an open floor plan with cathedral ceilings making it feel more open and spacious. This home features many updates including: new paint, flooring, New roof in 2021,New AC and Furnace in 2025, new siding, soffit and facia in2026.The back yard is fenced in which is nice for kids, pets, or entertainment around a firepit. This home is conveniently located just a short drive to downtown Lansing and Michigan State University. Don't miss out on this charming home schedule your showing today.

3. 2026-04-17
   price $112,000 566-char remark

   Show marketing remark (566 chars)

   Welcome to 2813 Greenbelt Drive!! This remodeled 3 bedroom one bath ranch has an open floor plan with cathedral ceilings making it feel more open and spacious. This home features many updates including: new paint, flooring, New roof in 2021,New AC and Furnace in 2025, new siding, soffit and facia in2026.The back yard is fenced in which is nice for kids, pets, or entertainment around a firepit. This home is conveniently located just a short drive to downtown Lansing and Michigan State University. Don't miss out on this charming home schedule your showing today.

4. 2026-04-17
   price $112,000

   Show marketing remark (566 chars)

   Welcome to 2813 Greenbelt Drive!! This remodeled 3 bedroom one bath ranch has an open floor plan with cathedral ceilings making it feel more open and spacious. This home features many updates including: new paint, flooring, New roof in 2021,New AC and Furnace in 2025, new siding, soffit and facia in2026.The back yard is fenced in which is nice for kids, pets, or entertainment around a firepit. This home is conveniently located just a short drive to downtown Lansing and Michigan State University. Don't miss out on this charming home schedule your showing today.

5. 2026-04-13
   listed $120,000 Active 566-char remark

   Show marketing remark (566 chars)

   Welcome to 2813 Greenbelt Drive!! This remodeled 3 bedroom one bath ranch has an open floor plan with cathedral ceilings making it feel more open and spacious. This home features many updates including: new paint, flooring, New roof in 2021,New AC and Furnace in 2025, new siding, soffit and facia in2026.The back yard is fenced in which is nice for kids, pets, or entertainment around a firepit. This home is conveniently located just a short drive to downtown Lansing and Michigan State University. Don't miss out on this charming home schedule your showing today.

6. 2026-04-13
   listed $120,000 Active

   Show marketing remark (566 chars)

   Welcome to 2813 Greenbelt Drive!! This remodeled 3 bedroom one bath ranch has an open floor plan with cathedral ceilings making it feel more open and spacious. This home features many updates including: new paint, flooring, New roof in 2021,New AC and Furnace in 2025, new siding, soffit and facia in2026.The back yard is fenced in which is nice for kids, pets, or entertainment around a firepit. This home is conveniently located just a short drive to downtown Lansing and Michigan State University. Don't miss out on this charming home schedule your showing today.

7. 2020-10-23
   soldstatus $54,000
8. 2020-09-25
   soldstatus $54,000 Sold 419-char remark

   Show marketing remark (419 chars)

   Welcome to 2813 Greenbelt Lansing Mi. This Nice 3 bedroom ranch home has first floor laundry and all 3 first floor bedrooms. . New paint and flooring!!! New interior doors. Cathedral ceilings make it feel so much larger. Nice open floor plan and lots of windows for natural light. Nice fenced yard for pets and kids. Easy to show, combo on the front door. Room sizes are estimates and taxes are currently non homestead.

9. 2020-09-25
   soldstatus $54,000

   Show marketing remark (419 chars)

   Welcome to 2813 Greenbelt Lansing Mi. This Nice 3 bedroom ranch home has first floor laundry and all 3 first floor bedrooms. . New paint and flooring!!! New interior doors. Cathedral ceilings make it feel so much larger. Nice open floor plan and lots of windows for natural light. Nice fenced yard for pets and kids. Easy to show, combo on the front door. Room sizes are estimates and taxes are currently non homestead.

10. 2020-09-02
    status Pending 419-char remark

    Show marketing remark (419 chars)

    Welcome to 2813 Greenbelt Lansing Mi. This Nice 3 bedroom ranch home has first floor laundry and all 3 first floor bedrooms. . New paint and flooring!!! New interior doors. Cathedral ceilings make it feel so much larger. Nice open floor plan and lots of windows for natural light. Nice fenced yard for pets and kids. Easy to show, combo on the front door. Room sizes are estimates and taxes are currently non homestead.

11. 2020-07-24
    historical Accepting Backup Offers 419-char remark

    Show marketing remark (419 chars)

    Welcome to 2813 Greenbelt Lansing Mi. This Nice 3 bedroom ranch home has first floor laundry and all 3 first floor bedrooms. . New paint and flooring!!! New interior doors. Cathedral ceilings make it feel so much larger. Nice open floor plan and lots of windows for natural light. Nice fenced yard for pets and kids. Easy to show, combo on the front door. Room sizes are estimates and taxes are currently non homestead.

12. 2020-07-10
    price $54,900 419-char remark

    Show marketing remark (419 chars)

    Welcome to 2813 Greenbelt Lansing Mi. This Nice 3 bedroom ranch home has first floor laundry and all 3 first floor bedrooms. . New paint and flooring!!! New interior doors. Cathedral ceilings make it feel so much larger. Nice open floor plan and lots of windows for natural light. Nice fenced yard for pets and kids. Easy to show, combo on the front door. Room sizes are estimates and taxes are currently non homestead.

13. 2020-06-15
    listed $59,900 Active 419-char remark

    Show marketing remark (419 chars)

    Welcome to 2813 Greenbelt Lansing Mi. This Nice 3 bedroom ranch home has first floor laundry and all 3 first floor bedrooms. . New paint and flooring!!! New interior doors. Cathedral ceilings make it feel so much larger. Nice open floor plan and lots of windows for natural light. Nice fenced yard for pets and kids. Easy to show, combo on the front door. Room sizes are estimates and taxes are currently non homestead.

14. 2020-06-15
    listed $54,900

    Show marketing remark (419 chars)

    Welcome to 2813 Greenbelt Lansing Mi. This Nice 3 bedroom ranch home has first floor laundry and all 3 first floor bedrooms. . New paint and flooring!!! New interior doors. Cathedral ceilings make it feel so much larger. Nice open floor plan and lots of windows for natural light. Nice fenced yard for pets and kids. Easy to show, combo on the front door. Room sizes are estimates and taxes are currently non homestead.

15. 2014-08-13
    soldstatus $25,000
16. 2014-06-18
    listed $32,500
17. 2014-06-17
    historical
18. 2014-02-23
    listed $32,500
19. 2002-07-08
    soldstatus $37,300
20. 2002-06-03
    soldstatus $37,300
21. 2002-02-08
    listed $36,000
22. 2000-01-10
    soldstatus $41,400
23. 1999-11-26
    listed $46,000

ⓘ 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: $1,826 · $152/mo
• Projected year-2 tax: $1,826 · $152/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 · 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: $14,223
• − Mortgage interest: −$6,274
• − Property taxes: −$1,826
• − Insurance: −$560
• − Repairs & maintenance: −$1,138
• − Management: −$1,138
• − Depreciation: −$3,258
• Taxable income: $30
• Est. tax owed @ 24.0%: −$7
• After-tax cash flow: $1,795/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): 39,876
• Household income: $56,631
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 2255.0

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 0.70)
• Race & ethnicity: White 46% Black 26% Hispanic / Latino 14% Two or more races 10% Asian 8%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 3% Slovak 2% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam, Philippines
• Languages at home: 83% English-only · Spanish 5% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -179.62%
• Current HPI: 176.0632
• Rent YoY: ▲ 9.90%
• 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

+143.5% since first listed

23 events — show timeline

• 2026-04-23 Pending — REALCOMP
• 2026-04-23 Pending — Greater Lansing AoR
• 2026-04-17 Price Changed $112,000 REALCOMP
• 2026-04-17 Price Changed $112,000 Greater Lansing AoR
• 2026-04-13 Listed $120,000 Greater Lansing AoR
• 2026-04-13 Listed $120,000 REALCOMP
• 2020-10-23 Sold (Public Records) $54,000 Public Records
• 2020-09-25 Sold (MLS) $54,000 Greater Lansing AoR
• 2020-09-25 Sold (MLS) $54,000 REALCOMP
• 2020-09-02 Pending — REALCOMP
• 2020-07-24 Contingent — REALCOMP
• 2020-07-10 Price Changed $54,900 REALCOMP
• 2020-06-15 Listed $54,900 Greater Lansing AoR
• 2020-06-15 Listed $59,900 REALCOMP
• 2014-08-13 Sold (MLS) $25,000 Greater Lansing AoR
• 2014-06-18 Listed $32,500 Greater Lansing AoR
• 2014-06-17 Listing Removed — Greater Lansing AoR
• 2014-02-23 Listed $32,500 Greater Lansing AoR
• 2002-07-08 Sold (Public Records) $37,300 Public Records
• 2002-06-03 Sold (MLS) $37,300 MiRealSource-MiMLS
• 2002-02-08 Listed $36,000 MiRealSource-MiMLS
• 2000-01-10 Sold (MLS) $41,400 REALCOMP
• 1999-11-26 Listed $46,000 REALCOMP

Property tax history

-1.1%/yr

Latest (2025): $1,826 · +5.5% YoY. Source: county tax records.