1735 Maisonette Dr · Lansing, MI 48911

$106,900

2 bd · 1.5 ba · 990 sqft · Condo public records · 12 Days on market

Built 1976 $240/mo HOA · 22% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.8/30.0
• 1% rule +5.0/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your new townhome located in the Eden Glen Complex! This well-maintained 2 bedroom 1.5 bath condo is already furnished with appliances and is in move-in ready condition. It has an open floor plan, space in the basement to entertain and its location is near the highways, food, shopping, entertainment, public transportation and is not far from downtown Lansing or MSU's campus.

Key facts

• Open floor plan
• Eden glen complex
• Near highways

Tags

• EDEN GLEN COMPLEX
• MOVE-IN READY CONDITION
• OPEN FLOOR PLAN
• SPACE IN THE BASEMENT
• NEAR HIGHWAYS
• NEAR FOOD

Property features AI

Finance

• Other: Subdivision: Eden Glen; Current use: Primary
• HOA & community: Part of Eden Glen association; Monthly association fee of $240; Association covers water, sewer, lawn care, snow removal, exterior maintenance; Association amenities include insurance, grounds and structure maintenance, snow removal, and water

Exterior

• Parking: Asphalt parking
• Utilities: Public sewer; Circuit breaker electric; Cable available
• Home design: Colonial style; Two levels; Faces south
• Construction: Built in 1976; Brick and vinyl siding exterior; Shingle roof; Block foundation
• Exterior features: Private fenced pool; Patio; Porch; Community pool; Community sidewalks; Paved road frontage

Interior

• Kitchen: Dishwasher; Disposal; Oven; Range; Refrigerator
• Bedrooms: 2 bedrooms (Primary Bedroom included)
• Flooring: Other
• Bathrooms: 1 full bath and 1 half bath
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Entry located on Scotmar; Full basement
• Laundry & utility: Washer hookup on lower level; Electric dryer hookup on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $107k.

Deal economics

• At list price, monthly cash flow is $-165 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $78k (27.3% below list).
• Meets the 1% rule at list price ($1k rent vs $107k).
• Recommended offer: $78k (27.3% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 6.0% in Lansing — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Cavanaugh School (315 students, 89% FRL); Attwood School (193 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 (+9.9%/yr); 146 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $739 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.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 5y 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 $50k; list at $107k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $77,756 (27.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.00% ✓
• Cap rate: 4.44%
• Cash-on-cash: -6.61%
• DSCR: 0.71
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -19.9%
• Equity multiple: 0.27×
• Total profit: $-21,986
• Equity at exit: $15,939

10-year hold

• IRR: -2.4%
• Equity multiple: 0.79×
• Total profit: $-6,166
• Equity at exit: $9,243

Cash invested: $29,932 (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: 146
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,071 high
• Mortgage (P&I): −$561
• Tax from tax record: −$166 /mo · $1,992/yr
• Insurance: −$45
• HOA: −$240
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $-165

Break-even live

Break-even rent $1,280

Max offer price $77,756

Occupancy floor —

Sensitivity live

Price	-10% $-104	-5% $-135	+0% $-165	+5% $-195	+10% $-225
Rent	-10% $-250	-5% $-207	+0% $-165	+5% $-123	+10% $-80
Rate	-1.0pp $-111	-0.5pp $-138	base $-165	+0.5pp $-193	+1.0pp $-221

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: $26,725
• Closing costs: $3,207
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6129 Beechfield Dr Lansing, MI	1.0–2.0	1.0	894	$1,100	$1.23	15d	1	0.27mi
814 Louisa St Lansing, MI	2.0	1.0	850	$950	$1.12	15d	2	0.88mi
900 Long Blvd Lansing, MI	1.0–3.0	1.0–1.5	1013	$1,195	$1.18	15d	21	0.96mi
5521 Joshua St Unit ST-102 Lansing, MI	2.0	1.0	812	$975	$1.20	45d	1	0.97mi
5540 Kaynorth Rd Unit 4 Lansing, MI	2.0	1.0	745	$925	$1.24	45d	1	1.17mi
2342 Aurelius Rd Holt, MI	1.0	1.0	750	$975	$1.30	15d	1	1.17mi
2342 N Aurelius Rd Apt 9 Holt, MI	1.0	1.0	750	$975	$1.30	22d	1	1.17mi
2301 E Jolly Rd Lansing, MI	1.0–2.0	1.0–1.5	1045	$1,440	$1.38	15d	10	1.22mi
315 E Edgewood Blvd Lansing, MI	2.0	1.0	615	$1,245	$2.02	15d	14	1.23mi
910 E Jolly Rd #2 Lansing, MI	1.0–2.0	1.0	625	$895	$1.43	22d	2	1.25mi
909 E Jolly Rd Lansing, MI	1.0	1.0	700	$700	$1.00	45d	1	1.28mi
4612 Tolland Ave Unit 4612 Holt, MI	2.0	1.0	927	$1,325	$1.43	15d	1	1.29mi
2294 Main St Holt, MI	2.0	1.0	869	$999	$1.15	15d	1	1.29mi
2305 E Jolly Rd Unit 2401-09 Lansing, MI	1.0	1.0	790	$1,185	$1.50	15d	1	1.31mi
2305 E Jolly Rd Unit 2401-14 Lansing, MI	1.0	1.0	790	$1,025	$1.30	15d	1	1.31mi
2305 E Jolly Rd Unit 2401-22 Lansing, MI	1.0	1.0	790	$1,185	$1.50	45d	1	1.31mi
2305 E Jolly Rd Unit 2401-21 Lansing, MI	2.0	1.5	830	$1,315	$1.58	15d	1	1.31mi
4330 Keller Rd Holt, MI	1.0–2.0	1.0	462	$1,150	$2.49	15d	1	1.34mi
645 E Jolly Rd Lansing, MI	1.0–2.0	1.0	775	$825	$1.06	45d	1	1.41mi

HOA detail condo

• Monthly dues: $240 · $2,880/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-21
   days on market $106,900 Active 12 DOM
2. 2026-06-18
   days on market $106,900 Active 9 DOM
3. 2026-06-17
   days on market $106,900 Active 8 DOM
4. 2026-06-16
   days on market $106,900 Active 7 DOM
5. 2026-06-15
   days on market $106,900 Active 6 DOM
6. 2026-06-14
   days on market $106,900 Active 4 DOM
7. 2026-06-13
   days on market $106,900 Active 3 DOM
8. 2026-06-10
   remarks 388-char remark
9. 2026-06-10
   listed $106,900 Active 1 DOM

ⓘ 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: $1,992 · $166/mo
• Projected year-2 tax: $1,992 · $166/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: $12,853
• − Mortgage interest: −$5,988
• − Property taxes: −$1,992
• − Insurance: −$534
• − Repairs & maintenance: −$1,028
• − Management: −$1,028
• − HOA: −$2,880
• − Depreciation: −$3,110
• Taxable loss: −$3,708
• Est. tax savings @ 24.0%: +$890
• After-tax cash flow: $-1,090/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

+113.8% since first listed

6 events — show timeline

• 2026-06-08 Listed $106,900 REALCOMP
• 2026-06-08 Listed $106,900 Greater Lansing AoR
• 2021-08-10 Sold (MLS) $50,000 REALCOMP
• 2021-08-10 Sold (MLS) $50,000 Greater Lansing AoR
• 2021-06-11 Listed $50,000 REALCOMP
• 2021-06-11 Listed $50,000 Greater Lansing AoR

Property tax history

+7.1%/yr

Latest (2025): $1,992 · +3.2% YoY. Source: county tax records.