5992 Greenman St · Haslett, MI 48840

$150,000

2 bd · 1.0 ba · 777 sqft · SingleFamily public records · 41 Days on market

Built 1934 5,009 sqft lot Est $147k · at est.

---

Why this score? — see what drove the D 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 +12.3/30.0
• ARV discount +6.5/15.0
• Schools +5.1/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

RARE FIND IN HASLETT SCHOOLS WITH LAKE LANSING JUST AROUND THE CORNER! If you've been looking for a move-in ready home in an unbeatable location for a great price, this is it! Located within walking distance to Lake Lansing, you'll love being able to enjoy the water, parks, and everything this area has to offer. .. all just minutes from your front door. This adorable 2 bedroom 1 bath home has been nicely updated and is ready for its next owner. The kitchen has already been refreshed with modern updates, giving you a clean, stylish space to cook and gather. Fresh paint throughout and brand new carpet make the entire home feel bright, clean, and inviting from the moment you walk in. The layout offers great functionality for everyday living, and the attached 1 car garage is a huge bonus with plenty of space for parking, storage, or hobbies. All of this in the award-winning Haslett School District and at a price point that is hard to find for this location and condition. Whether you're looking for your first home, downsizing, or just wanting to be close to the lake. .. this is an opportunity you don't want to miss!

Key facts

• Lake lansing
• Fresh paint
• New carpet

Tags

• LAKE LANSING
• MOVE IN READY
• UPDATED KITCHEN
• FRESH PAINT
• NEW CARPET
• ATTACHED GARAGE

Property features AI

Exterior

• Parking: Attached garage
• Utilities: Public sewer; Water connected; Sewer connected; Natural gas connected; Electricity connected; Cable available
• Home design: One-story home; Built in 1934; Located on a city street
• Construction: Vinyl siding
• Exterior features: Front and back yard; Covered porch; Shingle roof; Paved road frontage

Interior

• Kitchen: Kitchen (approx. 12 x 9); Oven; Refrigerator
• Bedrooms: 2 bedrooms (Primary bedroom approx. 11 x 10; Second bedroom approx. 10 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Crawl space basement; 5 total rooms
• Laundry & utility: Washer and dryer included; Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-27 ($-324/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (10.3% below list).
• Recommended offer: $135k (10.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.1% in Haslett — 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 81/100 on livability (#60 in MI, #1,316 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, schools A; Watch: amenities F, commute F.
• Haslett Public Schools (suburban): math 55% / reading 63% proficiency, ranked #44 of 540 in MI (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 73 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $1k 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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $93k; list at $150k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,510 (10.3% 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. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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: 0.90% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.77%
• DSCR: 0.97
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $146,853
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5992 Greenman St	0.00mi	2/1.0	777 (0%)	1mo	$143,000	$184	99
5989 Cypress St	0.02mi	2/1.0	840 (+8%)	5mo	$172,800	$206	82
1692 Bliss St	0.35mi	2/1.0	840 (+8%)	2mo	$171,200	$204	68
5989 Harvey St	0.06mi	2/1.0	702 (-10%)	15mo	$130,000	$185	68
1668 E Lake Ct	0.16mi	2/1.0	860 (+11%)	20mo	$162,500	$189	58

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: -17.5%
• Equity multiple: 0.38×
• Total profit: $-25,975
• Equity at exit: $22,365

10-year hold

• IRR: -9.5%
• Equity multiple: 0.41×
• Total profit: $-24,621
• Equity at exit: $12,969

Cash invested: $42,000 (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 48840

• Active inventory: 73
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,345 high
• Mortgage (P&I): −$787
• Tax from tax record: −$241 /mo · $2,887/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $-27

Break-even live

Break-even rent $1,379

Max offer price $145,225

Occupancy floor 97%

Sensitivity live

Price	-10% $58	-5% $15	+0% $-27	+5% $-69	+10% $-112
Rent	-10% $-133	-5% $-80	+0% $-27	+5% $26	+10% $79
Rate	-1.0pp $49	-0.5pp $11	base $-27	+0.5pp $-66	+1.0pp $-105

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6076 Marsh Rd Haslett, MI	1.0	1.0	750	$950	$1.27	14d	2	0.25mi
5800 Benson Dr Haslett, MI	1.0–2.0	1.0–1.5	800	$1,808	$2.26	14d	13	0.27mi
5906 Edson St Haslett, MI	2.0	1.0	750	$1,200	$1.60	44d	1	0.31mi
5937 Shaw St Apt 3 Haslett, MI	1.0	1.0	800	$1,495	$1.87	44d	1	0.37mi
5984 Bois Ile Dr Haslett, MI	2.0	1.5	1100	$1,150	$1.05	44d	1	0.46mi
5712 Edson St #6 Haslett, MI	1.0	1.0	600	$895	$1.49	22d	1	0.49mi
5705 Potter St #1 Haslett, MI	2.0	1.5	1100	$1,295	$1.18	44d	1	0.53mi
5910 Okemos Rd Haslett, MI	2.0	1.0	900	$1,599	$1.78	44d	1	0.78mi
6276 Newton Rd Haslett, MI	1.0–4.0	1.0–3.0	1182	$2,271	$1.92	14d	42	1.11mi
1750 Maple Rdg Haslett, MI	2.0	1.5	1016	$1,700	$1.67	14d	1	1.14mi
1715 Huntsville Dr Haslett, MI	1.0–2.0	1.0	750	$950	$1.27	14d	1	1.30mi
1373 Montgomery Ct Haslett, MI	2.0	1.0	650	$1,000	$1.54	14d	1	1.33mi

Listing history 20 events

1. 2026-04-29
   historical Active Under Contract 1128-char remark

   Show marketing remark (1128 chars)

   RARE FIND IN HASLETT SCHOOLS WITH LAKE LANSING JUST AROUND THE CORNER! If you've been looking for a move-in ready home in an unbeatable location for a great price, this is it! Located within walking distance to Lake Lansing, you'll love being able to enjoy the water, parks, and everything this area has to offer. .. all just minutes from your front door. This adorable 2 bedroom 1 bath home has been nicely updated and is ready for its next owner. The kitchen has already been refreshed with modern updates, giving you a clean, stylish space to cook and gather. Fresh paint throughout and brand new carpet make the entire home feel bright, clean, and inviting from the moment you walk in. The layout offers great functionality for everyday living, and the attached 1 car garage is a huge bonus with plenty of space for parking, storage, or hobbies. All of this in the award-winning Haslett School District and at a price point that is hard to find for this location and condition. Whether you're looking for your first home, downsizing, or just wanting to be close to the lake. .. this is an opportunity you don't want to miss!

2. 2026-04-29
   historical Active Under Contract

   Show marketing remark (1128 chars)

   RARE FIND IN HASLETT SCHOOLS WITH LAKE LANSING JUST AROUND THE CORNER! If you've been looking for a move-in ready home in an unbeatable location for a great price, this is it! Located within walking distance to Lake Lansing, you'll love being able to enjoy the water, parks, and everything this area has to offer. .. all just minutes from your front door. This adorable 2 bedroom 1 bath home has been nicely updated and is ready for its next owner. The kitchen has already been refreshed with modern updates, giving you a clean, stylish space to cook and gather. Fresh paint throughout and brand new carpet make the entire home feel bright, clean, and inviting from the moment you walk in. The layout offers great functionality for everyday living, and the attached 1 car garage is a huge bonus with plenty of space for parking, storage, or hobbies. All of this in the award-winning Haslett School District and at a price point that is hard to find for this location and condition. Whether you're looking for your first home, downsizing, or just wanting to be close to the lake. .. this is an opportunity you don't want to miss!

3. 2026-04-27
   price $150,000 1128-char remark

   Show marketing remark (1128 chars)

   RARE FIND IN HASLETT SCHOOLS WITH LAKE LANSING JUST AROUND THE CORNER! If you've been looking for a move-in ready home in an unbeatable location for a great price, this is it! Located within walking distance to Lake Lansing, you'll love being able to enjoy the water, parks, and everything this area has to offer. .. all just minutes from your front door. This adorable 2 bedroom 1 bath home has been nicely updated and is ready for its next owner. The kitchen has already been refreshed with modern updates, giving you a clean, stylish space to cook and gather. Fresh paint throughout and brand new carpet make the entire home feel bright, clean, and inviting from the moment you walk in. The layout offers great functionality for everyday living, and the attached 1 car garage is a huge bonus with plenty of space for parking, storage, or hobbies. All of this in the award-winning Haslett School District and at a price point that is hard to find for this location and condition. Whether you're looking for your first home, downsizing, or just wanting to be close to the lake. .. this is an opportunity you don't want to miss!

4. 2026-04-27
   price $150,000

   Show marketing remark (1128 chars)

   RARE FIND IN HASLETT SCHOOLS WITH LAKE LANSING JUST AROUND THE CORNER! If you've been looking for a move-in ready home in an unbeatable location for a great price, this is it! Located within walking distance to Lake Lansing, you'll love being able to enjoy the water, parks, and everything this area has to offer. .. all just minutes from your front door. This adorable 2 bedroom 1 bath home has been nicely updated and is ready for its next owner. The kitchen has already been refreshed with modern updates, giving you a clean, stylish space to cook and gather. Fresh paint throughout and brand new carpet make the entire home feel bright, clean, and inviting from the moment you walk in. The layout offers great functionality for everyday living, and the attached 1 car garage is a huge bonus with plenty of space for parking, storage, or hobbies. All of this in the award-winning Haslett School District and at a price point that is hard to find for this location and condition. Whether you're looking for your first home, downsizing, or just wanting to be close to the lake. .. this is an opportunity you don't want to miss!

5. 2026-04-15
   listed $159,900 Active 1128-char remark

   Show marketing remark (1128 chars)

   RARE FIND IN HASLETT SCHOOLS WITH LAKE LANSING JUST AROUND THE CORNER! If you've been looking for a move-in ready home in an unbeatable location for a great price, this is it! Located within walking distance to Lake Lansing, you'll love being able to enjoy the water, parks, and everything this area has to offer. .. all just minutes from your front door. This adorable 2 bedroom 1 bath home has been nicely updated and is ready for its next owner. The kitchen has already been refreshed with modern updates, giving you a clean, stylish space to cook and gather. Fresh paint throughout and brand new carpet make the entire home feel bright, clean, and inviting from the moment you walk in. The layout offers great functionality for everyday living, and the attached 1 car garage is a huge bonus with plenty of space for parking, storage, or hobbies. All of this in the award-winning Haslett School District and at a price point that is hard to find for this location and condition. Whether you're looking for your first home, downsizing, or just wanting to be close to the lake. .. this is an opportunity you don't want to miss!

6. 2026-04-15
   listed $159,900 Active

   Show marketing remark (1128 chars)

   RARE FIND IN HASLETT SCHOOLS WITH LAKE LANSING JUST AROUND THE CORNER! If you've been looking for a move-in ready home in an unbeatable location for a great price, this is it! Located within walking distance to Lake Lansing, you'll love being able to enjoy the water, parks, and everything this area has to offer. .. all just minutes from your front door. This adorable 2 bedroom 1 bath home has been nicely updated and is ready for its next owner. The kitchen has already been refreshed with modern updates, giving you a clean, stylish space to cook and gather. Fresh paint throughout and brand new carpet make the entire home feel bright, clean, and inviting from the moment you walk in. The layout offers great functionality for everyday living, and the attached 1 car garage is a huge bonus with plenty of space for parking, storage, or hobbies. All of this in the award-winning Haslett School District and at a price point that is hard to find for this location and condition. Whether you're looking for your first home, downsizing, or just wanting to be close to the lake. .. this is an opportunity you don't want to miss!

7. 2020-04-13
   soldstatus $93,250
8. 2020-04-02
   soldstatus $93,250 Sold 165-char remark

   Show marketing remark (165 chars)

   Really sharp 2 bedroom 1 bath in Haslett. Rented until 6/1/2020. Newer furnace (2018), large attached garage, updated kitchen, double wide driveway, licensed rented.

9. 2020-04-02
   soldstatus $93,250

   Show marketing remark (165 chars)

   Really sharp 2 bedroom 1 bath in Haslett. Rented until 6/1/2020. Newer furnace (2018), large attached garage, updated kitchen, double wide driveway, licensed rented.

10. 2020-03-02
    status Pending 165-char remark

    Show marketing remark (165 chars)

    Really sharp 2 bedroom 1 bath in Haslett. Rented until 6/1/2020. Newer furnace (2018), large attached garage, updated kitchen, double wide driveway, licensed rented.

11. 2020-02-03
    listed $92,500 Active 165-char remark

    Show marketing remark (165 chars)

    Really sharp 2 bedroom 1 bath in Haslett. Rented until 6/1/2020. Newer furnace (2018), large attached garage, updated kitchen, double wide driveway, licensed rented.

12. 2020-02-03
    listed $92,500

    Show marketing remark (165 chars)

    Really sharp 2 bedroom 1 bath in Haslett. Rented until 6/1/2020. Newer furnace (2018), large attached garage, updated kitchen, double wide driveway, licensed rented.

13. 2018-10-19
    historical
14. 2018-10-19
    historical
15. 2018-06-18
    listed $87,000
16. 2018-06-18
    listed $87,000
17. 2018-04-20
    historical
18. 2018-04-20
    historical
19. 2018-04-13
    listed $87,000
20. 2018-04-13
    listed $87,000

ⓘ 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: $2,887 · $241/mo
• Projected year-2 tax: $2,887 · $241/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: $16,141
• − Mortgage interest: −$8,402
• − Property taxes: −$2,887
• − Insurance: −$750
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$4,364
• Taxable loss: −$2,844
• Est. tax savings @ 24.0%: +$683
• After-tax cash flow: $358/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: Haslett Public Schools
• NCES district ID: 2617940
• Math proficiency: 55% ▼ -12.00%
• Reading proficiency: 63% ▼ -10.00%
• Median HH income: $61,571
• Composite: 51.33/100
• National rank: #1739
• State rank: #44 of 540 in MI

Livability — Haslett

• Score: 81/100
• State rank: #60
• US rank: #1316

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment A Housing A+ Health & safety A User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Haslett, MI
• County: Ingham County · 237,052 people
• City population: 12,386
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 12,386
• Household income: $73,408
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 415.0

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: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 9% Hispanic / Latino 6% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 5% Lithuanian 5% Iranian 3%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 91% English-only · Spanish 3% Arabic 2% 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: ▼ -174.62%
• Current HPI: 223.7401
• 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

+72.4% since first listed

20 events — show timeline

• 2026-04-29 Contingent — REALCOMP
• 2026-04-29 Contingent — Greater Lansing AoR
• 2026-04-27 Price Changed $150,000 REALCOMP
• 2026-04-27 Price Changed $150,000 Greater Lansing AoR
• 2026-04-15 Listed $159,900 REALCOMP
• 2026-04-15 Listed $159,900 Greater Lansing AoR
• 2020-04-13 Sold (Public Records) $93,250 Public Records
• 2020-04-02 Sold (MLS) $93,250 Greater Lansing AoR
• 2020-04-02 Sold (MLS) $93,250 REALCOMP
• 2020-03-02 Pending — REALCOMP
• 2020-02-03 Listed $92,500 Greater Lansing AoR
• 2020-02-03 Listed $92,500 REALCOMP
• 2018-10-19 Listing Removed — Greater Lansing AoR
• 2018-10-19 Listing Removed — REALCOMP
• 2018-06-18 Listed $87,000 Greater Lansing AoR
• 2018-06-18 Listed $87,000 REALCOMP
• 2018-04-20 Listing Removed — REALCOMP
• 2018-04-20 Listing Removed — Greater Lansing AoR
• 2018-04-13 Listed $87,000 REALCOMP
• 2018-04-13 Listed $87,000 Greater Lansing AoR

Property tax history

+6.1%/yr

Latest (2025): $2,887 · +5.4% YoY. Source: county tax records.