933 N Martin Luther King Jr Blvd · Lansing, MI 48915

$74,900

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 182 Days on market

Built 1954 4,356 sqft lot $98/sqft · 15% below area Est $88k · 15% 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 +30.0/30.0
• ARV discount +14.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PROPERTY SOLD AS IS INSPECTIONS FOR INFORMATION PURPOSE ONLY GREAT STARTER HOME INCLUDE VACANT LOT SOUTH OF PROPERTY

Key facts

• 4,356 sq ft lot
• Built 1954
• Listed 181 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: 68 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $518 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.49% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.69%
• DSCR: 1.83
• GRM: 5.6

CMA / ARV

• ARV (median comp): $87,650
• List price: $74,900
• Delta: -14.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1129 N Martin Luther King Jr Blvd	0.16mi	2/1.0	798 (+4%)	4mo	$52,500	$66	82
1430 N Martin Luther King Jr Blvd	0.44mi	3/1.0 (+1)	768 (0%)	6mo	$62,000	$81	70
819 Cawood St	0.42mi	2/1.0	726 (-6%)	4mo	$55,000	$76	68
2014 Hyland St	0.60mi	2/1.0	744 (-3%)	0mo	$152,500	$205	67
1230 Glenn St	0.21mi	2/1.0	875 (+14%)	5mo	$43,000	$49	63
1112 W Willow St	0.26mi	3/1.0 (+1)	870 (+13%)	4mo	$96,000	$110	57
1348 N Jenison Ave	0.43mi	2/1.0	672 (-12%)	3mo	$68,900	$103	56
1706 N Martin Luther King Jr Blvd	0.66mi	3/1.0 (+1)	818 (+6%)	3mo	$129,900	$159	51
1522 Robertson Ave	0.53mi	3/1.0 (+1)	866 (+13%)	1mo	$45,000	$52	48
1016 Cleo St	0.45mi	3/1.0 (+1)	875 (+14%)	5mo	$100,150	$114	46
1616 Roseneath Ave	0.61mi	2/1.0	660 (-14%)	4mo	$73,000	$111	44
1004 Greenwood Ave	0.59mi	3/2.0 (+1)	878 (+14%)	3mo	$121,000	$138	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.42×
• Total profit: $8,706
• Equity at exit: $11,168

10-year hold

• IRR: 19.6%
• Equity multiple: 2.65×
• Total profit: $34,531
• Equity at exit: $6,476

Cash invested: $20,972 (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 48915

• Active inventory: 68
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,116 high
• Mortgage (P&I): −$393
• Tax from tax record: −$131 /mo · $1,568/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $327

Break-even live

Break-even rent $702

Max offer price $74,900

Occupancy floor 66%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
919 Princeton Ave Lansing, MI	3.0	1.5	1119	$1,475	$1.32	21d	1	0.11mi
731 N Sycamore St Unit 1 Lansing, MI	2.0	1.0	950	$945	$0.99	43d	1	0.37mi
712 N Sycamore St Lansing, MI	3.0	1.0	1100	$1,650	$1.50	21d	1	0.41mi
1010 N Pine St Unit B Lansing, MI	2.0	1.0	750	$1,100	$1.47	43d	1	0.43mi
1443 Roselawn Ave Lansing, MI	2.0	1.0	656	$750	$1.14	43d	1	0.46mi
610 N Sycamore St Unit 1 Lansing, MI	1.0	1.0	900	$875	$0.97	13d	1	0.47mi
1216 N Chestnut St Lansing, MI	1.0	1.0	562	$900	$1.60	13d	1	0.55mi
927 W Shiawassee St Unit 10 Lansing, MI	1.0	1.0	700	$845	$1.21	43d	1	0.56mi
504 W Lapeer St Apt A Lansing, MI	2.0	1.0	600	$895	$1.49	43d	1	0.58mi
826 N Walnut St Lansing, MI	1.0	1.0	700	$700	$1.00	43d	2	0.60mi
410 W Lapeer St Unit 1 Lansing, MI	2.0	1.0	800	$1,050	$1.31	21d	1	0.63mi
316 W Saginaw St Unit 318 Lansing, MI	1.0	1.0	750	$950	$1.27	43d	1	0.65mi
323 W Saginaw St Unit 1 Lansing, MI	1.0	1.0	1000	$1,000	$1.00	43d	1	0.66mi
314 N Sycamore St Unit 1 Lansing, MI	1.0	1.0	800	$1,450	$1.81	43d	1	0.68mi
524 N Walnut St Lansing, MI	2.0	1.0	1000	$1,150	$1.15	43d	1	0.69mi
801 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	550	$950	$1.73	43d	1	0.73mi
801 N Capitol Ave Unit 4 Lansing, MI	1.0	1.0	600	$1,000	$1.67	43d	1	0.73mi
1016 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	700	$850	$1.21	43d	1	0.74mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	43d	1	0.78mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	21d	1	0.78mi
427 Seymour Ave Unit 205 Lansing, MI	1.0	1.0	570	$1,100	$1.93	43d	1	0.78mi
427 Seymour Ave Unit 102 Lansing, MI	1.0	1.0	540	$850	$1.57	21d	1	0.78mi
1025 N Washington Ave Unit 9 Lansing, MI	1.0	1.0	670	$1,000	$1.49	43d	1	0.79mi
307 N Walnut St Unit 307 Lansing, MI	1.0	1.0	550	$1,100	$2.00	43d	1	0.81mi
117 E North St Unit A Lansing, MI	2.0	1.0	812	$1,050	$1.29	13d	1	0.95mi
1109 W Washtenaw St Unit 5 Lansing, MI	2.0	1.0	755	$795	$1.05	43d	1	0.95mi
420 S Walnut St Lansing, MI	1.0	1.0	525	$875	$1.67	43d	1	1.21mi
832 N Larch St Apt 3 Lansing, MI	2.0	1.0	890	$1,095	$1.23	43d	1	1.21mi
1330 W Hillsdale St Lansing, MI	3.0	1.0	1008	$1,550	$1.54	43d	1	1.21mi
122 Hathaway St Lansing, MI	2.0	1.0	768	$1,250	$1.63	43d	1	1.22mi
400 N Catherine St Lansing, MI	3.0	1.0	760	$1,395	$1.84	13d	1	1.22mi
620 May St Lansing, MI	1.0–2.0	1.0–2.0	1126	$1,578	$1.40	13d	12	1.27mi
515 S Chestnut St Lansing, MI	1.0	1.0	646	$942	$1.46	13d	8	1.27mi
401 S Washington Sq Unit 212 Lansing, MI	1.0	1.0	827	$1,330	$1.61	43d	1	1.34mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	43d	1	1.34mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	13d	9	1.45mi

Listing history 9 events

1. 2026-06-07
   days on market $74,900 Active 182 DOM
2. 2026-06-05
   days on market $74,900 Active 179 DOM
3. 2026-06-03
   days on market $74,900 Active 178 DOM
4. 2026-06-02
   days on market $74,900 Active 177 DOM
5. 2026-06-01
   days on market $74,900 Active 176 DOM
6. 2026-05-31
   days on market $74,900 Active 175 DOM
7. 2026-05-30
   days on market $74,900 Active 174 DOM
8. 2025-12-07
   listed $74,900 Active 116-char remark

   Show marketing remark (116 chars)

   PROPERTY SOLD AS IS INSPECTIONS FOR INFORMATION PURPOSE ONLY GREAT STARTER HOME INCLUDE VACANT LOT SOUTH OF PROPERTY

9. 2025-12-07
   listed $74,900 Active 116-char remark

   Show marketing remark (116 chars)

   PROPERTY SOLD AS IS INSPECTIONS FOR INFORMATION PURPOSE ONLY GREAT STARTER HOME INCLUDE VACANT LOT SOUTH OF PROPERTY

ⓘ 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: $1,568 · $131/mo
• Projected year-2 tax: $1,568 · $131/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: $13,387
• − Mortgage interest: −$4,196
• − Property taxes: −$1,568
• − Insurance: −$374
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$2,179
• Taxable income: $2,928
• Est. tax owed @ 24.0%: −$703
• After-tax cash flow: $3,217/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): 9,428
• Household income: $54,465
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 307.0

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 0.64)
• Race & ethnicity: White 54% Black 24% Two or more races 13% Hispanic / Latino 13%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 7% Lithuanian 2% Iranian 2%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 90% English-only · Spanish 7% Other Asian/Pacific 1% German/W. Germanic 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: ▼ -129.90%
• Current HPI: 177.0906
• Rent YoY: —
• 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

+0.0% since first listed

2 events — show timeline

• 2025-12-07 Listed $74,900 REALCOMP
• 2025-12-07 Listed $74,900 Greater Lansing AoR

Property tax history

+2.9%/yr

Latest (2025): $1,568 · +2.9% YoY. Source: county tax records.