3107 Amherst Dr · Lansing, MI 48906

$177,000

3 bd · 1.5 ba · 1,773 sqft · SingleFamily public records · 2 Days on market

Built 1963 0.25 ac lot Est $255k · 31% under

---

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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• Rent growth +5.0/5.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is priced to sell, needs cosmetics, newer furnace, roof. home sits on a beautiful lot with a shed and third driveway for extra parking, living room, family room, fenced yard, large porch, covered back deck. solid home that won't last long.

Key facts

• Shed
• Fenced yard
• Third driveway

Tags

• FENCED YARD
• LARGE PORCH
• COVERED BACK DECK
• THIRD DRIVEWAY
• SHED

Property features AI

Exterior

• Parking: Attached oversized garage with garage door opener; Driveway, parking pad and additional parking
• Utilities: Public sewer; Water connected; Sewer connected; Electricity connected; Phone connected/available; Cable available
• Home design: One-level home; Built in 1963
• Construction: Vinyl siding; Shingle roof; Block foundation
• Exterior features: Private yard; Covered patio and porch; Pergola and shed(s); Landscaped yard; Corner lot

Interior

• Kitchen: Includes disposal, oven, range and refrigerator
• Bedrooms: 3 bedrooms (primary bedroom included)
• Flooring: Carpet, linoleum, and wood flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Disposal, Oven, Range, Refrigerator; Wood burning stove in basement; Basement is block, full, and partially finished
• Laundry & utility: Electric dryer hookup in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $177k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (6.6% below list).
• Recommended offer: $165k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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, 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: Cumberland School (249 students, 94% FRL) — zoned schools average 94% FRL vs 68% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.5%/yr); 138 active listings in the ZIP; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 31% 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 $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $165,255 (6.6% below list)

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.25
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $255,312
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3107 Amherst Dr	0.00mi	3/1.5	1,881 (+6%)	0mo	$209,000	$111	89
3709 Pino Dr	0.04mi	3/1.5	1,605 (-10%)	8mo	$215,000	$134	76
2601 Newport Dr	0.32mi	3/2.5	1,886 (+6%)	2mo	$250,000	$133	69
4339 Foal St	0.65mi	3/2.0	1,819 (+3%)	4mo	$374,000	$206	60
2916 Wilson Ave	0.42mi	3/2.0	1,566 (-12%)	1mo	$235,000	$150	58
2414 Darby Dr	0.63mi	3/1.5	1,841 (+4%)	9mo	$232,500	$126	57
3116 Colchester Rd	0.48mi	3/2.5	1,601 (-10%)	3mo	$230,000	$144	55
2519 Byrnes Rd	0.40mi	3/1.0	1,512 (-15%)	4mo	$230,000	$152	52
2302 Northwest Ave	0.63mi	3/1.5	1,534 (-14%)	3mo	$220,000	$143	46
3336 Tecumseh River Rd	0.70mi	3/1.5	1,526 (-14%)	3mo	$250,000	$164	41
2400 Leon Ave	0.68mi	3/1.5	1,527 (-14%)	5mo	$215,000	$141	41
2123 Cogswell Dr	0.73mi	3/2.5	1,576 (-11%)	6mo	$265,000	$168	38

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: -2.5%
• Equity multiple: 0.90×
• Total profit: $-4,950
• Equity at exit: $26,391

10-year hold

• IRR: 11.6%
• Equity multiple: 2.10×
• Total profit: $54,557
• Equity at exit: $15,304

Cash invested: $49,560 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,653 medium
• Mortgage (P&I): −$928
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $237

Break-even live

Break-even rent $1,353

Max offer price $177,000

Occupancy floor 81%

Sensitivity live

Price	-10% $337	-5% $287	+0% $237	+5% $186	+10% $136
Rent	-10% $106	-5% $171	+0% $237	+5% $302	+10% $367
Rate	-1.0pp $326	-0.5pp $282	base $237	+0.5pp $191	+1.0pp $144

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: $44,250
• Closing costs: $5,310
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-22
   status Pending 249-char remark

   Show marketing remark (249 chars)

   This home is priced to sell, needs cosmetics, newer furnace, roof. home sits on a beautiful lot with a shed and third driveway for extra parking, living room, family room, fenced yard, large porch, covered back deck. solid home that won't last long.

2. 2026-05-22
   status Pending

   Show marketing remark (249 chars)

   This home is priced to sell, needs cosmetics, newer furnace, roof. home sits on a beautiful lot with a shed and third driveway for extra parking, living room, family room, fenced yard, large porch, covered back deck. solid home that won't last long.

3. 2026-05-19
   listed $177,000 Active 249-char remark

   Show marketing remark (249 chars)

   This home is priced to sell, needs cosmetics, newer furnace, roof. home sits on a beautiful lot with a shed and third driveway for extra parking, living room, family room, fenced yard, large porch, covered back deck. solid home that won't last long.

4. 2026-05-19
   listed $177,000 Active

   Show marketing remark (249 chars)

   This home is priced to sell, needs cosmetics, newer furnace, roof. home sits on a beautiful lot with a shed and third driveway for extra parking, living room, family room, fenced yard, large porch, covered back deck. solid home that won't last long.

ⓘ 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: $804 · $67/mo
• Projected year-2 tax: $1,765 · $147/mo
• Expected delta: +$961/yr (+$80/mo · 119.6%)

ⓘ 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: $19,831
• − Mortgage interest: −$9,915
• − Property taxes: −$804
• − Insurance: −$885
• − Repairs & maintenance: −$1,586
• − Management: −$1,586
• − Depreciation: −$5,149
• Taxable loss: −$95
• Est. tax savings @ 24.0%: +$23
• After-tax cash flow: $2,862/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

+0.0% since first listed

4 events — show timeline

• 2026-05-22 Pending — REALCOMP
• 2026-05-22 Pending — Greater Lansing AoR
• 2026-05-19 Listed $177,000 Greater Lansing AoR
• 2026-05-19 Listed $177,000 REALCOMP

Property tax history

-10.0%/yr

Latest (2025): $804 · -79.4% YoY. Source: county tax records.