111 W Barnes Ave · Lansing, MI 48910

$118,900

3 bd · 1.0 ba · 1,305 sqft · SingleFamily public records · 70 Days on market

Built 1912 2,178 sqft lot $91/sqft · 7% above area Est $111k · 7% over

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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 +23.0/30.0
• DSCR +7.4/10.0
• 1% rule +7.0/10.0
• ARV discount +4.2/15.0
• 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

Charming 3-bedroom, 1-bath home in Lansing, Michigan! This cozy residence features a bright living area, functional kitchen, and comfortably sized bedrooms. Enjoy relaxing on the inviting front porch--perfect for morning coffee or evening unwinding. This is a great home for the family or an investor looking to grow their portfolio in Lansing. Open House 4/18/2026 at 12:00pm-1:30pm

Key facts

• Functional kitchen
• Bright living area
• Inviting front porch

Tags

• BRIGHT LIVING AREA
• FUNCTIONAL KITCHEN
• INVITING FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $112k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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); 177 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% 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 31% 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 $822 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 $33k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $11k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,766 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — 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: 1.20% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.58%
• DSCR: 1.34
• GRM: 6.9

CMA / ARV

• ARV (median comp): $110,672
• List price: $118,900
• Delta: 7.43%
• 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
1601 Coleman Ave	0.09mi	4/2.0 (+1)	1,340 (+3%)	0mo	$212,000	$158	82
310 W Barnes Ave	0.16mi	3/2.0	1,270 (-3%)	3mo	$180,000	$142	82
1927 Teel Ave	0.27mi	3/1.5	1,262 (-3%)	5mo	$178,000	$141	76
227 Woodlawn Ave	0.18mi	3/1.0	1,120 (-14%)	3mo	$89,900	$80	66
514 Christiancy St	0.43mi	3/1.5	1,207 (-8%)	4mo	$145,000	$120	61
1824 Davis Ave	0.25mi	2/1.0 (-1)	1,118 (-14%)	2mo	$50,000	$45	58
717 Smith Ave	0.49mi	3/1.0	1,160 (-11%)	2mo	$170,000	$147	57
520 Riley St	0.50mi	3/1.0	1,428 (+9%)	6mo	$176,400	$124	56
2406 Markley Pl	0.52mi	3/1.0	1,181 (-10%)	6mo	$141,970	$120	55
129 E Elm St	0.52mi	4/2.0 (+1)	1,433 (+10%)	0mo	$159,900	$112	50
1022 S Grand Ave	0.54mi	3/1.0	1,478 (+13%)	4mo	$42,500	$29	50
626 Tisdale Ave	0.74mi	3/2.0	1,212 (-7%)	5mo	$149,900	$124	45

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-3,292
• Equity at exit: $17,728

10-year hold

• IRR: 9.1%
• Equity multiple: 1.76×
• Total profit: $25,333
• Equity at exit: $10,280

Cash invested: $33,292 (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: 177
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,429 high
• Mortgage (P&I): −$624
• Tax from tax record: −$245 /mo · $2,945/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $210

Break-even live

Break-even rent $1,163

Max offer price $118,900

Occupancy floor 80%

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: $29,725
• Closing costs: $3,567
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	13d	1	0.60mi
1913 Stirling Ave Unit 1 Lansing, MI	2.0	2.0	1100	$1,200	$1.09	43d	1	0.66mi
2528 Forest Ave Lansing, MI	4.0	1.0	1175	$1,699	$1.45	43d	1	0.67mi
605 S Grand Ave Unit 2 Lansing, MI	4.0	1.0	1200	$1,100	$0.92	43d	1	0.84mi
430 Dunlap St Lansing, MI	2.0	1.0	940	$1,450	$1.54	21d	1	0.91mi
1317 Lenore Ave Lansing, MI	2.0	1.5	1442	$850	$0.59	43d	1	0.94mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	43d	1	1.01mi
401 S Washington Sq Unit 201 Lansing, MI	3.0	1.0	1254	$1,560	$1.24	43d	1	1.01mi
1027 Climax St Lansing, MI	3.0	1.5	1298	$1,550	$1.19	13d	1	1.07mi
805 Bement St Unit Hosmer 507 Lansing, MI	2.0	1.0	1120	$1,075	$0.96	43d	1	1.10mi
1100 Malcolm X St Unit B Lansing, MI	2.0	1.0	979	$1,050	$1.07	13d	1	1.11mi
507 S Hosmer St Lansing, MI	2.0	1.0	1120	$1,075	$0.96	43d	1	1.12mi
1815 Potomac Cir Lansing, MI	2.0	1.0	1002	$1,200	$1.20	13d	1	1.22mi
1330 W Hillsdale St Lansing, MI	3.0	1.0	1008	$1,550	$1.54	43d	1	1.30mi
910 Dakin St Lansing, MI	3.0	1.0	908	$1,295	$1.43	43d	1	1.32mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	13d	9	1.40mi
208 S Bingham St Lansing, MI	4.0	1.0	1020	$1,500	$1.47	13d	1	1.43mi

Listing history 25 events

1. 2026-06-18
   days on market $118,900 Active 70 DOM
2. 2026-06-17
   days on market $118,900 Active 69 DOM
3. 2026-06-16
   days on market $118,900 Active 68 DOM
4. 2026-06-15
   days on market $118,900 Active 67 DOM
5. 2026-06-14
   days on market $118,900 Active 65 DOM
6. 2026-06-13
   days on market $118,900 Active 64 DOM
7. 2026-06-10
   days on market $118,900 Active 62 DOM
8. 2026-06-09
   days on market $118,900 Active 61 DOM
9. 2026-06-08
   days on market $118,900 Active 60 DOM
10. 2026-06-07
    days on market $118,900 Active 59 DOM
11. 2026-06-05
    days on market $118,900 Active 56 DOM
12. 2026-06-03
    days on market $118,900 Active 55 DOM
13. 2026-06-02
    days on market $118,900 Active 54 DOM
14. 2026-06-01
    days on market $118,900 Active 53 DOM
15. 2026-05-31
    days on market $118,900 Active 52 DOM
16. 2026-05-30
    days on market $118,900 Active 51 DOM
17. 2026-05-07
    price $123,900 383-char remark

    Show marketing remark (383 chars)

    Charming 3-bedroom, 1-bath home in Lansing, Michigan! This cozy residence features a bright living area, functional kitchen, and comfortably sized bedrooms. Enjoy relaxing on the inviting front porch--perfect for morning coffee or evening unwinding. This is a great home for the family or an investor looking to grow their portfolio in Lansing. Open House 4/18/2026 at 12:00pm-1:30pm

18. 2026-05-07
    price $123,900 383-char remark

    Show marketing remark (383 chars)

    Charming 3-bedroom, 1-bath home in Lansing, Michigan! This cozy residence features a bright living area, functional kitchen, and comfortably sized bedrooms. Enjoy relaxing on the inviting front porch--perfect for morning coffee or evening unwinding. This is a great home for the family or an investor looking to grow their portfolio in Lansing. Open House 4/18/2026 at 12:00pm-1:30pm

19. 2026-05-07
    price $123,900

    Show marketing remark (383 chars)

    Charming 3-bedroom, 1-bath home in Lansing, Michigan! This cozy residence features a bright living area, functional kitchen, and comfortably sized bedrooms. Enjoy relaxing on the inviting front porch--perfect for morning coffee or evening unwinding. This is a great home for the family or an investor looking to grow their portfolio in Lansing. Open House 4/18/2026 at 12:00pm-1:30pm

20. 2026-04-09
    listed $129,900 Active 383-char remark

    Show marketing remark (383 chars)

    Charming 3-bedroom, 1-bath home in Lansing, Michigan! This cozy residence features a bright living area, functional kitchen, and comfortably sized bedrooms. Enjoy relaxing on the inviting front porch--perfect for morning coffee or evening unwinding. This is a great home for the family or an investor looking to grow their portfolio in Lansing. Open House 4/18/2026 at 12:00pm-1:30pm

21. 2026-04-09
    listed $129,900 Active 383-char remark

    Show marketing remark (383 chars)

    Charming 3-bedroom, 1-bath home in Lansing, Michigan! This cozy residence features a bright living area, functional kitchen, and comfortably sized bedrooms. Enjoy relaxing on the inviting front porch--perfect for morning coffee or evening unwinding. This is a great home for the family or an investor looking to grow their portfolio in Lansing. Open House 4/18/2026 at 12:00pm-1:30pm

22. 2026-04-09
    listed $129,900 Active

    Show marketing remark (383 chars)

    Charming 3-bedroom, 1-bath home in Lansing, Michigan! This cozy residence features a bright living area, functional kitchen, and comfortably sized bedrooms. Enjoy relaxing on the inviting front porch--perfect for morning coffee or evening unwinding. This is a great home for the family or an investor looking to grow their portfolio in Lansing. Open House 4/18/2026 at 12:00pm-1:30pm

23. 2022-12-29
    soldstatus $480,000
24. 2012-05-04
    soldstatus $11,500
25. 2012-01-04
    listed $12,499

ⓘ 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: $2,945 · $245/mo
• Projected year-2 tax: $2,945 · $245/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 3/10 Moderate 7 d/yr ≥96°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: $17,146
• − Mortgage interest: −$6,660
• − Property taxes: −$2,945
• − Insurance: −$594
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$3,459
• Taxable income: $744
• Est. tax owed @ 24.0%: −$179
• After-tax cash flow: $2,345/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

+891.3% since first listed

9 events — show timeline

• 2026-05-07 Price Changed $123,900 MiRealSource-MiMLS
• 2026-05-07 Price Changed $123,900 REALCOMP
• 2026-05-07 Price Changed $123,900 SW Michigan MLS
• 2026-04-09 Listed $129,900 REALCOMP
• 2026-04-09 Listed $129,900 SW Michigan MLS
• 2026-04-09 Listed $129,900 MiRealSource-MiMLS
• 2022-12-29 Sold (Public Records) $480,000 Public Records
• 2012-05-04 Sold (MLS) $11,500 Greater Lansing AoR
• 2012-01-04 Listed $12,499 Greater Lansing AoR

Property tax history

+5.3%/yr

Latest (2025): $2,945 · +3.0% YoY. Source: county tax records.