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3600 W Kalamazoo St
B Composite 71.34
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
  • 1% rule +10.0/10.0
  • DSCR +10.0/10.0
  • ARV discount +7.5/15.0
  • Schools +4.0/10.0
  • Livability +4.0/5.0
  • Rent growth +3.7/5.0
  • Condition / age +2.2/5.0
  • Appreciation +0.0/10.0

$66,000

3600 W Kalamazoo St · Lansing, MI 48917
2 bd · 1.0 ba · 938 sqft · SingleFamily public records · 160 Days on market
Built 1934 Fair condition 0.56 ac lot Garage $70/sqft · 60% below area

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

3 bedroom home in Lansing, ready for your vision! This two-story property offers solid bones and excellent potential for investors or handy buyers looking for a project. While the home needs TLC and updates throughout, it presents a fantastic opportunity to create equity through cosmetic and structural improvements. The interior includes an unfinished space with great potential, exposed framing, high ceilings, and natural light. Bring your tools and creativity to transform this diamond in the rough into a standout property in a convenient Lansing location.

Key facts

  • Solid bones
  • Exposed framing
  • Excellent potential

Tags

UNFINISHED SPACEEXPOSED FRAMINGHIGH CEILINGSNATURAL LIGHTSOLID BONESEXCELLENT POTENTIAL

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/1.0-bath single-family listed at $66k. Condition is rated fair.

Deal economics

  • At list price, monthly cash flow is $401 ($5k/yr) — positive.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($1k rent vs $66k).
  • Recommended offer: $58k (12.0% below list) — sets the bar for market timing.
  • Cap rate 13.6% vs local median 5.9% 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.
  • Waverly Community Schools (suburban): math 22% / reading 40% proficiency, ranked #341 of 540 in MI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
  • Zoned schools: Waverly Senior High School (math 17% / reading 52%, grade F, #372 of 713 statewide, top 56%, 1,000 students, 58% FRL).
  • Market conditions: Rents rising fast (+4.7%/yr); 254 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $456 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 + 4.7% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

  • It's been on market 160 days — a 12% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
  • 7 sale attempts since 8y ago; this cycle's ask has dropped $19k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

  • Watch-outs: property tax is 3.7% of price; built in 1934 — expect roof / HVAC / electrical / plumbing capex.
Recommended offer $58,080 (12.0% below list)

Questions for the listing agent

  1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
  2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
  3. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
  5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  7. 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?
  8. 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?
  9. 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.
  10. 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.
  11. 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
1.88% ✓
Cap rate
13.58%
Cash-on-cash
26.01%
DSCR
2.16
GRM
4.4

CMA / ARV

ARV (median comp)
$165,743
List price
$66,000
Delta
-60.18%
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
516 Hume Blvd 0.28mi 3/2.0 (+1) 960 (+2%) 11mo $169,900 $177 65
123 N Deerfield Ave 0.46mi 2/1.0 864 (-8%) 6mo $110,000 $127 61
321 Renker Rd 0.69mi 2/1.0 884 (-6%) 1mo $125,000 $141 57
207 N Deerfield Ave 0.49mi 3/1.0 (+1) 946 (+1%) 16mo $155,000 $164 57
240 N Deerfield Ave 0.57mi 2/1.0 866 (-8%) 10mo $139,900 $162 52
609 S Rosemary St 0.65mi 2/1.0 868 (-8%) 6mo $97,500 $112 52
204 N Grace St 0.65mi 3/1.0 (+1) 880 (-6%) 12mo $115,000 $131 44
343 S Grace St 0.56mi 1/1.0 (-1) 840 (-10%) 12mo $78,000 $93 41
233 N Rosemary St 0.71mi 3/1.0 (+1) 1,000 (+7%) 13mo $140,000 $140 40
4302 W St Joe Hwy Hwy 0.55mi 3/1.5 (+1) 1,027 (+10%) 15mo $186,900 $182 39
2805 W Washtenaw St 0.60mi 3/2.0 (+1) 1,028 (+10%) 10mo $48,000 $47 38
314 Alger St 0.66mi 3/1.0 (+1) 1,056 (+13%) 6mo $167,000 $158 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 · 4.74% rent growth · sell at horizon

5-year hold
IRR
22.0%
Equity multiple
1.93×
Total profit
$17,116
Equity at exit
$9,841
10-year hold
IRR
31.4%
Equity multiple
4.11×
Total profit
$57,512
Equity at exit
$5,706

Cash invested: $18,480 (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.
Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
9 active · 11 under contract
Months of supply
4.9 mo (20%/mo absorbed)
Median asking
$139,000 ($137/sqft)
Median days on market
51 d
This list price
lowest-priced of the active set
ARV vs active asking
+28.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48917

Rents YoY
4.7%
Active inventory
254
Price-to-rent
4.4×

Monthly cashflow live

Estimated rent
$1,238 high interval (Pro) →
Mortgage (P&I)
−$346
Tax from tax record
−$204 /mo · $2,448/yr
Insurance
−$28
HOA
−$0
Vacancy / Maint / Mgmt
−$260
Net cashflow
$401

Break-even live

Break-even rent $731
Max offer price $66,000
Occupancy floor 63%

Sensitivity live

Price -10% $438 -5% $419 +0% $401 +5% $382 +10% $363
Rent -10% $303 -5% $352 +0% $401 +5% $449 +10% $498
Rate -1.0pp $434 -0.5pp $417 base $401 +0.5pp $383 +1.0pp $366

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
$16,500
Closing costs
$1,980
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 26 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
3419 W Michigan Ave Unit 3421W Lansing, MI 2.0 1.0 840 $1,250 $1.49 51d 1 0.29mi
3421 W Michigan Ave Lansing, MI 2.0 1.0 840 $1,250 $1.49 51d 1 0.29mi
3322 W Michigan Ave Unit 3 Lansing, MI 1.0 1.0 600 $850 $1.42 10d 1 0.37mi
312 S Rosemary St Lansing, MI 2.0 1.0 699 $995 $1.42 10d 1 0.63mi
400 N Catherine St Lansing, MI 3.0 1.0 760 $1,395 $1.84 154d 1 0.74mi
122 Hathaway St Lansing, MI 2.0 1.0 768 $1,250 $1.63 184d 1 0.76mi
320 Julian Ave Lansing, MI 3.0 1.5 980 $1,500 $1.53 27d 1 0.93mi
825 W Thomas L Pkwy Unit 3 Lansing, MI 2.0 1.0 977 $1,300 $1.33 12d 1 0.95mi
825 W Thomas L Pkwy Unit 3 Lansing, MI 2.0 1.0 977 $1,300 $1.33 10d 1 0.95mi
1117 Mitchell Ave Lansing, MI 2.0 2.0 1008 $1,600 $1.59 51d 1 1.13mi
2917 Harwick Dr Lansing, MI 2.0 1.0 750 $1,045 $1.39 28d 4 1.15mi
2917 Harwick Dr Unit 4 Lansing, MI 2.0 1.0 750 $995 $1.33 10d 1 1.15mi
3006 Harwick Dr Unit 5 Lansing, MI 2.0 1.0 750 $1,095 $1.46 2d 1 1.17mi
3006 Harwick Dr Apt 7 Lansing, MI 1.0 1.0 650 $950 $1.46 10d 1 1.17mi
400 Dornet Dr Lansing, MI 2.0 1.0 853 $1,200 $1.41 10d 1 1.18mi
2918 Harwick Dr Apt 3 Lansing, MI 1.0 1.0 700 $995 $1.42 0d 1 1.18mi
420 Dornet Dr Lansing, MI 1.0–2.0 1.0–1.5 753 $1,200 $1.59 0d 7 1.18mi
2805 Harwick Dr Apt 8 Lansing, MI 2.0 1.0 900 $900 $1.00 10d 1 1.20mi
3313 W Mt Hope Ave Lansing, MI 2.0 1.0–2.0 869 $1,296 $1.49 154d 6 1.30mi
3313 W Mt Hope Ave Lansing, MI 1.0–2.0 1.0 855 $1,402 $1.64 0d 4 1.30mi
5332 W Michigan Ave Lansing, MI 1.0–3.0 1.0 900 $1,267 $1.41 0d 6 1.36mi
3407 W Mount Hope Ave Lansing, MI 1.0 1.0 640 $895 $1.40 0d 1 1.36mi
3407 W Mount Hope Ave Lansing, MI 2.0 2.0 1000 $995 $0.99 1d 1 1.36mi
3407 W Mount Hope Ave Lansing, MI 1.0 1.0 640 $895 $1.40 19d 1 1.36mi
3215 W MT Lansing, MI 1.0–2.0 1.0 762 $1,729 $2.27 33d 1 1.39mi
1330 W Hillsdale St Lansing, MI 3.0 1.0 1008 $1,550 $1.54 184d 1 1.43mi

Property features AI

Exterior

Parking
Detached garage (1 car)Driveway and on-site private parking
Utilities
Public waterPublic sewer
Home design
Single family residenceOne and one-half storiesEntry level: 1Facing south
Construction
Vinyl sidingFoundation area notedBuilt with conventional construction materials
Exterior features
Shingle roofProperty has a viewPaved city street frontagePublicly maintained roadLot dimensions approximately 82.5 x 297 (0.56 acres)

Interior

Kitchen
No appliances included
Bedrooms
5 total rooms (bedroom count not specified)
Bathrooms
1 full bathroom
Heating & cooling
Forced air heating (natural gas)No central cooling
Interior features
Laminate countersFull basement
Laundry & utility
Laundry located inside

Listing history 50 events

  1. 2026-11-08
    days on market $66,000 Active 160 DOM
  2. 2026-11-07
    days on market $66,000 Active 159 DOM
  3. 2026-11-06
    days on market $66,000 Active 158 DOM
  4. 2026-11-05
    days on market $66,000 Active 157 DOM
  5. 2026-11-04
    days on market $66,000 Active 156 DOM
  6. 2026-11-02
    days on market $66,000 Active 154 DOM
  7. 2026-11-01
    days on market $66,000 Active 153 DOM
  8. 2026-10-31
    days on market $66,000 Active 152 DOM
  9. 2026-10-30
    days on market $66,000 Active 151 DOM
  10. 2026-10-29
    days on market $66,000 Active 150 DOM
  11. 2026-10-28
    days on market $66,000 Active 149 DOM
  12. 2026-10-27
    days on market $66,000 Active 148 DOM
  13. 2026-10-26
    days on market $66,000 Active 147 DOM
  14. 2026-10-25
    days on market $66,000 Active 146 DOM
  15. 2026-10-24
    days on market $66,000 Active 145 DOM
  16. 2026-10-23
    days on market $66,000 Active 144 DOM
  17. 2026-10-23
    price $66,000 Active 143 DOM
  18. 2026-10-22
    days on market $79,900 Active 143 DOM
  19. 2026-10-21
    days on market $79,900 Active 142 DOM
  20. 2026-10-20
    days on market $79,900 Active 141 DOM
  21. 2026-10-19
    days on market $79,900 Active 140 DOM
  22. 2026-10-18
    days on market $79,900 Active 139 DOM
  23. 2026-10-17
    days on market $79,900 Active 138 DOM
  24. 2026-10-16
    days on market $79,900 Active 137 DOM
  25. 2026-10-15
    days on market $79,900 Active 136 DOM
  26. 2026-10-14
    days on market $79,900 Active 135 DOM
  27. 2026-10-13
    days on market $79,900 Active 134 DOM
  28. 2026-10-12
    days on market $79,900 Active 133 DOM
  29. 2026-10-11
    days on market $79,900 Active 132 DOM
  30. 2026-10-10
    days on market $79,900 Active 131 DOM
  31. 2026-10-09
    days on market $79,900 Active 130 DOM
  32. 2026-10-08
    days on market $79,900 Active 129 DOM
  33. 2026-10-07
    days on market $79,900 Active 128 DOM
  34. 2026-10-06
    days on market $79,900 Active 127 DOM
  35. 2026-10-05
    days on market $79,900 Active 126 DOM
  36. 2026-10-04
    days on market $79,900 Active 125 DOM
  37. 2026-10-04
    days on market $79,900 Active 124 DOM
  38. 2026-10-02
    days on market $79,900 Active 123 DOM
  39. 2026-10-01
    days on market $79,900 Active 122 DOM
  40. 2026-09-30
    days on market $79,900 Active 121 DOM
  41. 2026-09-29
    days on market $79,900 Active 120 DOM
  42. 2026-09-28
    days on market $79,900 Active 119 DOM
  43. 2026-09-27
    days on market $79,900 Active 118 DOM
  44. 2026-09-26
    days on market $79,900 Active 117 DOM
  45. 2026-09-25
    days on market $79,900 Active 116 DOM
  46. 2026-09-24
    days on market $79,900 Active 115 DOM
  47. 2026-09-24
    days on market $79,900 Active 114 DOM
  48. 2026-09-22
    days on market $79,900 Active 113 DOM
  49. 2026-09-21
    days on market $79,900 Active 112 DOM
  50. 2026-09-20
    days on market $79,900 Active 111 DOM

ⓘ 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
$2,448 · $204/mo
Projected year-2 tax
$2,448 · $204/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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$14,859
− Mortgage interest
−$3,697
− Property taxes
−$2,448
− Insurance
−$330
− Repairs & maintenance
−$1,189
− Management
−$1,189
− Depreciation
−$1,920
Taxable income
$4,086
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$981
After-tax cash flow
$3,826/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab Est. rehab $23,450–$42,210 screening

This two-story home in Lansing requires significant exterior and interior repairs and maintenance, including roof repair, siding repainting, landscaping, and interior finishing. While it presents a fantastic opportunity for investors or handy buyers looking for a project, the overall condition is fair and the home needs a moderate level of renovation to become move-in ready.

Repairs flagged

  • Major roof — Visible damage and potential leaks.
  • Major siding — Peeling and in need of repainting.
  • Major HVAC/mechanicals — Not visible, but likely in need of maintenance or replacement based on the unfinished spaces and high ceilings.
  • Major landscaping — Sparse and in need of maintenance, with overgrown areas and a lack of curb appeal.

Value-add opportunities

  • Both painting the siding — Improves the curb appeal and exterior appearance, which can increase both resale and rental value. ↑
  • Both landscaping and yard work — Enhances the curb appeal and exterior appearance, which can increase both resale and rental value. ↑
  • Both roof repair — Fixing the roof can prevent further damage and potential leaks, which is crucial for both resale and rental value. ↑
  • Both HVAC/mechanical replacement — Replacing the HVAC system can improve comfort and energy efficiency, which is beneficial for both resale and rental value. ↑
  • Both interior finishing — Finishing the interior spaces can increase the living area and make the home more attractive to potential buyers or renters, which is beneficial for both resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 40/100

Zoned Schools

Middle Waverly Middle School D MI #169/493 Nat'l #4,747/14,009 High Waverly Senior High School F MI #372/713 Nat'l #9,639/17,239

Schools (NCES district)

District
Waverly Community Schools
NCES district ID
2635520
Math proficiency
22% ▼ -5.00%
Reading proficiency
40% ▼ -2.00%
Median HH income
$51,325
Composite
27.09/100
National rank
#7043
State rank
#341 of 540 in MI
B Composite livability gradescore 79/100

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

County
Eaton County · 300,362 people
City population
161,269
Metro
Lansing-East Lansing, MI
Population (ZIP)
32,483
Household income
$70,990
Rent vs Own
40.0% rent · 60.0% own
Severe rent burden
7% of renters

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 (67%)
Race & ethnicity
White 67% Black 14% Hispanic / Latino 9% Two or more races 8% Asian 5%
Hispanic origin (detail)
Mexican 6%
Languages at home
88% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 2%

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
—

Price history

+59.8% since first listed
14 events — show timeline
  • 2026-06-30 Relisted — Greater Lansing AoR
  • 2026-06-30 Listing Removed — Greater Lansing AoR
  • 2026-06-30 Price Changed $79,900 REALCOMP
  • 2026-06-30 Price Changed $79,900 Greater Lansing AoR
  • 2026-06-25 Relisted — REALCOMP
  • 2026-06-25 Relisted — Greater Lansing AoR
  • 2026-06-12 Contingent — REALCOMP
  • 2026-06-12 Contingent — Greater Lansing AoR
  • 2026-06-01 Listed $85,000 REALCOMP
  • 2026-06-01 Listed $85,000 Greater Lansing AoR
  • 2018-08-28 Listing Removed — REALCOMP
  • 2018-08-28 Listing Removed — Greater Lansing AoR
  • 2018-02-28 Listed $50,000 REALCOMP
  • 2018-02-28 Listed $50,000 Greater Lansing AoR

Property tax history

+4.8%/yr

Latest (2025): $2,448 · +2.8% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…