2212 Lyons Ave · Lansing, MI 48910

$119,900

4 bd · 1.5 ba · 1,080 sqft · SingleFamily public records · 22 Days on market

Built 1922 4,791 sqft lot Est $130k · 7% under

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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 +23.2/30.0
• ARV discount +10.9/15.0
• 1% rule +8.2/10.0
• DSCR +7.5/10.0
• 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

Opportunity is knocking in this 4 bdrm home . . 2 down and 2 up make this ideal for those needing larger bedrooms, Modern updates in the bath too! The kitchen has ample storage, a breakfast nook off the backside, and even an area for formal dining. This home has an open floor plan and feels spacious. 1 car garage, fenced backyard, and a full basement to be enjoyed. * A new front door is being installed, and the car in the garage will be removed before closing. LET'S TOUR!

Key facts

• Breakfast nook
• Formal dining
• Open floor plan

Tags

• MODERN UPDATES
• AMPLE STORAGE
• BREAKFAST NOOK
• FORMAL DINING
• OPEN FLOOR PLAN
• FENCED BACKYARD

Property features AI

Finance

• Financial info: Property currently used as a rental/investment

Exterior

• Parking: Detached garage with storage; Driveway parking; Garage faces front
• Utilities: Public sewer
• Home design: Bungalow style; One-and-a-half levels; Built in 1922; Front door faces east; City street frontage
• Construction: Aluminum siding and hardboard exterior; Block foundation; Shingle roof; Year built: 1922
• Exterior features: Covered front porch; Landscaped yard with some native plants and few trees; Chain link fencing around backyard; Level, rectangular city lot with neighborhood view; Near public transit

Interior

• Kitchen: Oven; Refrigerator; Kitchen with abundant storage
• Bedrooms: Primary bedroom with double closets and newer flooring; Three additional bedrooms (one main-floor bedroom; others with newer flooring)
• Flooring: Combination of carpet and vinyl; Newer flooring in primary bedroom and one additional bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Built-in features; Ceiling fans; Ample storage; Open concept living and dining area; Basement (full, block foundation)
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: Rents rising fast (+4.7%/yr); 177 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 35% 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 $829 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $55k; list at $120k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,101 (1.5% below list)

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.32% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.79%
• DSCR: 1.35
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $129,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2340 S Pennsylvania Ave	0.22mi	4/1.0	1,152 (+7%)	4mo	$69,000	$60	74
619 E Mount Hope Ave	0.24mi	3/2.0 (-1)	1,040 (-4%)	5mo	$75,000	$72	71
2311 S Pennsylvania Ave	0.23mi	3/1.0 (-1)	1,170 (+8%)	1mo	$133,000	$114	68
707 Isbell St	0.39mi	3/1.0 (-1)	1,054 (-2%)	5mo	$30,000	$28	67
626 Tisdale Ave	0.16mi	3/2.0 (-1)	1,212 (+12%)	5mo	$149,900	$124	61
713 E Greenlawn Ave	0.24mi	3/1.0 (-1)	939 (-13%)	0mo	$77,500	$83	60
2001 Clifton Ave	0.50mi	3/1.5 (-1)	1,166 (+8%)	1mo	$156,055	$134	58
1819 Alpha St	0.37mi	3/2.0 (-1)	1,208 (+12%)	2mo	$175,000	$145	54
2300 Sunnyside Ave	0.51mi	4/1.0	1,190 (+10%)	6mo	$162,000	$136	52
841 Baker St	0.56mi	3/1.0 (-1)	960 (-11%)	0mo	$57,000	$59	48
3149 Plymouth Dr	0.65mi	3/1.0 (-1)	1,180 (+9%)	1mo	$145,900	$124	46
514 Christiancy St	0.62mi	3/1.5 (-1)	1,207 (+12%)	4mo	$145,000	$120	43

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: -2.0%
• Equity multiple: 0.92×
• Total profit: $-2,612
• Equity at exit: $17,877

10-year hold

• IRR: 9.8%
• Equity multiple: 1.83×
• Total profit: $28,022
• Equity at exit: $10,367

Cash invested: $33,572 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,587 high
• Mortgage (P&I): −$629
• Tax from tax record: −$357 /mo · $4,281/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $218

Break-even live

Break-even rent $1,311

Max offer price $119,900

Occupancy floor 81%

Sensitivity live

Price	-10% $286	-5% $252	+0% $218	+5% $184	+10% $150
Rent	-10% $93	-5% $155	+0% $218	+5% $281	+10% $343
Rate	-1.0pp $278	-0.5pp $249	base $218	+0.5pp $187	+1.0pp $155

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2528 Forest Ave Lansing, MI	4.0	1.0	1175	$1,699	$1.45	44d	1	0.59mi
1223 Bensch St Lansing, MI	3.0	1.0	850	$1,200	$1.41	21d	1	0.94mi
1027 Climax St Lansing, MI	3.0	1.5	1298	$1,550	$1.19	14d	1	1.12mi
910 Dakin St Lansing, MI	3.0	1.0	908	$1,295	$1.43	44d	1	1.24mi
605 S Grand Ave Unit 2 Lansing, MI	4.0	1.0	1200	$1,100	$0.92	44d	1	1.31mi

Listing history 22 events

1. 2026-06-18
   days on market $119,900 Active 22 DOM
2. 2026-06-17
   days on market $119,900 Active 21 DOM
3. 2026-06-16
   days on market $119,900 Active 20 DOM
4. 2026-06-15
   days on market $119,900 Active 19 DOM
5. 2026-06-14
   days on market $119,900 Active 17 DOM
6. 2026-06-13
   days on market $119,900 Active 16 DOM
7. 2026-06-10
   days on market $119,900 Active 14 DOM
8. 2026-06-09
   days on market $119,900 Active 13 DOM
9. 2026-06-08
   days on market $119,900 Active 12 DOM
10. 2026-06-07
    days on market $119,900 Active 11 DOM
11. 2026-06-05
    days on market $119,900 Active 8 DOM
12. 2026-06-03
    days on market $119,900 Active 7 DOM
13. 2026-06-02
    days on market $119,900 Active 6 DOM
14. 2026-06-01
    days on market $119,900 Active 5 DOM
15. 2026-05-31
    days on market $119,900 Active 4 DOM
16. 2026-05-30
    days on market $119,900 Active 3 DOM
17. 2026-05-27
    listed $119,900 Active 478-char remark

    Show marketing remark (478 chars)

    Opportunity is knocking in this 4 bdrm home . . 2 down and 2 up make this ideal for those needing larger bedrooms, Modern updates in the bath too! The kitchen has ample storage, a breakfast nook off the backside, and even an area for formal dining. This home has an open floor plan and feels spacious. 1 car garage, fenced backyard, and a full basement to be enjoyed. * A new front door is being installed, and the car in the garage will be removed before closing. LET'S TOUR!

18. 2026-05-27
    listed $119,900 Active

    Show marketing remark (478 chars)

    Opportunity is knocking in this 4 bdrm home . . 2 down and 2 up make this ideal for those needing larger bedrooms, Modern updates in the bath too! The kitchen has ample storage, a breakfast nook off the backside, and even an area for formal dining. This home has an open floor plan and feels spacious. 1 car garage, fenced backyard, and a full basement to be enjoyed. * A new front door is being installed, and the car in the garage will be removed before closing. LET'S TOUR!

19. 2021-08-26
    soldstatus $55,000 313-char remark

    Show marketing remark (313 chars)

    Charming bungalow with 4 total bedrooms. Located right near Potter Park Zoo and downtown area. Home will be sold ''as is'' and is priced according to improvements needed to be made. Owner has lived in the home for over 35 years and is waiting for a new owner to make this their own. Schedule your showing today!

20. 2021-08-26
    soldstatus $55,000

    Show marketing remark (313 chars)

    Charming bungalow with 4 total bedrooms. Located right near Potter Park Zoo and downtown area. Home will be sold ''as is'' and is priced according to improvements needed to be made. Owner has lived in the home for over 35 years and is waiting for a new owner to make this their own. Schedule your showing today!

21. 2021-07-27
    listed $69,900 313-char remark

    Show marketing remark (313 chars)

    Charming bungalow with 4 total bedrooms. Located right near Potter Park Zoo and downtown area. Home will be sold ''as is'' and is priced according to improvements needed to be made. Owner has lived in the home for over 35 years and is waiting for a new owner to make this their own. Schedule your showing today!

22. 2021-07-27
    listed $69,900

    Show marketing remark (313 chars)

    Charming bungalow with 4 total bedrooms. Located right near Potter Park Zoo and downtown area. Home will be sold ''as is'' and is priced according to improvements needed to be made. Owner has lived in the home for over 35 years and is waiting for a new owner to make this their own. Schedule your showing today!

ⓘ 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: $4,281 · $357/mo
• Projected year-2 tax: $4,281 · $357/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 ≥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: $19,041
• − Mortgage interest: −$6,716
• − Property taxes: −$4,281
• − Insurance: −$600
• − Repairs & maintenance: −$1,523
• − Management: −$1,523
• − Depreciation: −$3,488
• Taxable income: $910
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $2,399/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

+71.5% since first listed

6 events — show timeline

• 2026-05-27 Listed $119,900 REALCOMP
• 2026-05-27 Listed $119,900 Greater Lansing AoR
• 2021-08-26 Sold (MLS) $55,000 REALCOMP
• 2021-08-26 Sold (MLS) $55,000 Greater Lansing AoR
• 2021-07-27 Listed $69,900 REALCOMP
• 2021-07-27 Listed $69,900 Greater Lansing AoR

Property tax history

+8.3%/yr

Latest (2025): $4,281 · +3.1% YoY. Source: county tax records.