920 N Pine St · Lansing, MI 48906

$109,900

4 bd · 2.0 ba · 1,522 sqft · SingleFamily public records · 56 Days on market

Built 1874 4,791 sqft lot $72/sqft · at area comps Est $115k · at est.

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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 +27.2/30.0
• 1% rule +9.7/10.0
• DSCR +9.5/10.0
• ARV discount +9.4/15.0
• 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

Looking for a home to personalize or a strong investment opportunity? Welcome to 920 N Pine! This spacious two-story property is full of potential. A covered front porch invites you into a generous living room and formal dining area, flowing into the kitchen. The main level also includes a primary bedroom, full bath, and an additional flexible space ideal for a home office or entertainment room. Upstairs, you'll find three additional bedrooms and a half bath. A new roof was installed in 2023, adding value and peace of mind. Conveniently located near downtown Lansing and Old Town, don't miss your chance to see this property, Schedule a showing today!

Key facts

• Covered front porch
• Flexible space
• Formal dining area

Tags

• COVERED FRONT PORCH
• GENEROUS LIVING ROOM
• FORMAL DINING AREA
• FLEXIBLE SPACE
• HOME OFFICE
• ENTERTAINMENT ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 (+10.5%/yr); 138 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 30% of the median local income ($64k/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 $760 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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $65k; list at $110k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; flood insurance adds $56/mo; built in 1874 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1874 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.47% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.28%
• DSCR: 1.55
• GRM: 5.7

CMA / ARV

• ARV (median comp): $114,865
• List price: $109,900
• Delta: -4.32%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
921 N Sycamore St	0.12mi	3/1.0 (-1)	1,460 (-4%)	3mo	$99,900	$68	77
810 N Walnut St	0.19mi	3/2.0 (-1)	1,570 (+3%)	7mo	$156,500	$100	75
738 W Lapeer St	0.34mi	3/1.5 (-1)	1,479 (-3%)	2mo	$158,000	$107	71
905 N Sycamore St	0.12mi	3/1.5 (-1)	1,368 (-10%)	0mo	$130,000	$95	70
407 W Cesar E Chavez Ave	0.24mi	4/1.0	1,408 (-8%)	6mo	$94,900	$67	67
820 Princeton Ave	0.30mi	4/1.5	1,692 (+11%)	4mo	$129,900	$77	62
705 Princeton Ave	0.38mi	4/3.0	1,662 (+9%)	4mo	$115,000	$69	60
842 W Willow St	0.38mi	3/1.0 (-1)	1,445 (-5%)	8mo	$140,000	$97	58
806 Princeton Ave	0.31mi	3/1.0 (-1)	1,344 (-12%)	6mo	$60,000	$45	52
1313 S Genesee Dr	0.70mi	3/2.0 (-1)	1,351 (-11%)	4mo	$218,000	$161	40
406 Westmoreland Ave	0.75mi	3/1.5 (-1)	1,660 (+9%)	8mo	$265,000	$160	36
1217 W Shiawassee St	0.70mi	3/1.5 (-1)	1,316 (-14%)	3mo	$147,000	$112	36

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: 5.8%
• Equity multiple: 1.24×
• Total profit: $7,409
• Equity at exit: $16,386

10-year hold

• IRR: 20.1%
• Equity multiple: 3.18×
• Total profit: $67,217
• Equity at exit: $9,502

Cash invested: $30,772 (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 48906

• Rents YoY: 10.5%
• Active inventory: 138
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,611 high
• Mortgage (P&I): −$576
• Tax from tax record: −$336 /mo · $4,031/yr
• Insurance: −$46
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $259

Break-even live

Break-even rent $1,283

Max offer price $109,900

Occupancy floor 79%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
712 N Sycamore St Lansing, MI	3.0	1.0	1100	$1,650	$1.50	21d	1	0.19mi
919 Princeton Ave Lansing, MI	3.0	1.5	1119	$1,475	$1.32	21d	1	0.31mi
433 Seymour Ave Unit 3 Lansing, MI	3.0	1.0	1250	$1,395	$1.12	43d	1	0.45mi
1012 Ontario St Lansing, MI	4.0	2.0	1320	$1,600	$1.21	21d	1	0.53mi
401 S Washington Sq Unit 201 Lansing, MI	3.0	1.0	1254	$1,560	$1.24	43d	1	1.07mi
921 Linden Grove Ave Lansing, MI	3.0	1.0	1694	$1,499	$0.88	43d	1	1.14mi
605 S Grand Ave Unit 2 Lansing, MI	4.0	1.0	1200	$1,100	$0.92	43d	1	1.27mi
1561 Massachusetts Ave Lansing, MI	3.0	2.0	1100	$1,400	$1.27	43d	1	1.33mi
1102 Clark St Lansing, MI	3.0	1.0	1232	$1,550	$1.26	21d	1	1.44mi

Listing history 27 events

1. 2026-06-15
   days on market $109,900 Active 56 DOM
2. 2026-06-14
   days on market $109,900 Active 54 DOM
3. 2026-06-13
   days on market $109,900 Active 53 DOM
4. 2026-06-10
   days on market $109,900 Active 51 DOM
5. 2026-06-09
   days on market $109,900 Active 50 DOM
6. 2026-06-08
   days on market $109,900 Active 49 DOM
7. 2026-06-07
   days on market $109,900 Active 48 DOM
8. 2026-06-05
   days on market $109,900 Active 45 DOM
9. 2026-06-03
   days on market $109,900 Active 44 DOM
10. 2026-06-02
    days on market $109,900 Active 43 DOM
11. 2026-06-01
    days on market $109,900 Active 42 DOM
12. 2026-05-31
    days on market $109,900 Active 41 DOM
13. 2026-05-30
    days on market $109,900 Active 40 DOM
14. 2026-04-20
    listed $109,900 Active 657-char remark

    Show marketing remark (657 chars)

    Looking for a home to personalize or a strong investment opportunity? Welcome to 920 N Pine! This spacious two-story property is full of potential. A covered front porch invites you into a generous living room and formal dining area, flowing into the kitchen. The main level also includes a primary bedroom, full bath, and an additional flexible space ideal for a home office or entertainment room. Upstairs, you'll find three additional bedrooms and a half bath. A new roof was installed in 2023, adding value and peace of mind. Conveniently located near downtown Lansing and Old Town, don't miss your chance to see this property, Schedule a showing today!

15. 2026-04-20
    listed $109,900 Active 657-char remark

    Show marketing remark (657 chars)

    Looking for a home to personalize or a strong investment opportunity? Welcome to 920 N Pine! This spacious two-story property is full of potential. A covered front porch invites you into a generous living room and formal dining area, flowing into the kitchen. The main level also includes a primary bedroom, full bath, and an additional flexible space ideal for a home office or entertainment room. Upstairs, you'll find three additional bedrooms and a half bath. A new roof was installed in 2023, adding value and peace of mind. Conveniently located near downtown Lansing and Old Town, don't miss your chance to see this property, Schedule a showing today!

16. 2022-12-22
    soldstatus $65,000
17. 2022-12-12
    soldstatus $65,000 Closed
18. 2022-12-12
    soldstatus $65,000
19. 2022-11-29
    status Pending
20. 2022-11-15
    price $85,000
21. 2022-10-21
    listed $90,000 Active
22. 2022-10-21
    listed $85,000
23. 2021-01-07
    soldstatus $49,995
24. 2009-01-23
    soldstatus $17,500
25. 2008-11-06
    listed $35,000
26. 2004-06-17
    soldstatus $320,000
27. 2004-06-17
    soldstatus $320,000

ⓘ 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: $4,031 · $336/mo
• Projected year-2 tax: $4,031 · $336/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 7/10 Severe FEMA zone X (unshaded) · 76% 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: $19,336
• − Mortgage interest: −$6,156
• − Property taxes: −$4,031
• − Insurance: −$1,216
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − Depreciation: −$3,197
• Taxable income: $1,642
• Est. tax owed @ 24.0%: −$394
• After-tax cash flow: $2,719/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): 25,901
• Household income: $64,315
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 851.0

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 0.56)
• Race & ethnicity: White 64% Black 15% Two or more races 12% Hispanic / Latino 12% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -135.54%
• Current HPI: 228.7023
• Rent YoY: ▲ 10.50%
• 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

-65.7% since first listed

14 events — show timeline

• 2026-04-20 Listed $109,900 REALCOMP
• 2026-04-20 Listed $109,900 Greater Lansing AoR
• 2022-12-22 Sold (Public Records) $65,000 Public Records
• 2022-12-12 Sold (MLS) $65,000 REALCOMP
• 2022-12-12 Sold (MLS) $65,000 Greater Lansing AoR
• 2022-11-29 Pending — Greater Lansing AoR
• 2022-11-15 Price Changed $85,000 Greater Lansing AoR
• 2022-10-21 Listed $85,000 REALCOMP
• 2022-10-21 Listed $90,000 Greater Lansing AoR
• 2021-01-07 Sold (Public Records) $49,995 Public Records
• 2009-01-23 Sold (MLS) $17,500 Greater Lansing AoR
• 2008-11-06 Listed $35,000 Greater Lansing AoR
• 2004-06-17 Sold (Public Records) $320,000 Public Records
• 2004-06-17 Sold (Public Records) $320,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $4,031 · +3.0% YoY. Source: county tax records.