4240 Glenburne Blvd · Lansing, MI 48911

$189,900

3 bd · 1.0 ba · 1,380 sqft · SingleFamily public records · 13 Days on market

Built 2000 6,969 sqft lot Est $179k · 6% over

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Why this score? — see what drove the F 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 +11.3/30.0
• Rent growth +5.0/5.0
• ARV discount +4.9/15.0
• Livability +4.0/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to 4240 Glenburne Blvd. This move-in ready 4-bedroom, 1-bath ranch offers 1,104 square feet of updated first floor living space. Freshly painted throughout, the home features refinished kitchen cabinets, a new bathtub, first-floor laundry, and stainless steel appliances that are included. The full partially finished basement provides additional living space and includes a fourth bedroom with an egress window. Recent exterior updates include new front siding and a new layer of shingles installed in 2026. A storage shed is also included. With updates throughout and immediate occupancy available, this home is ready for its next owner.

Key facts

• New front siding
• First floor laundry
• New bathtub

Tags

• REFINISHED KITCHEN CABINETS
• NEW BATHTUB
• FIRST FLOOR LAUNDRY
• STAINLESS STEEL APPLIANCES
• PARTIALLY FINISHED BASEMENT
• NEW FRONT SIDING

Property features AI

Finance

• Other: Road frontage on a city street; Lot dimensions approximately 63 x 120.96 (0.16 acres); Views of the city; Subdivision: Glenburne; Directions: Please use GPS

Exterior

• Parking: Driveway and off-street parking (no garage)
• Utilities: 200+ amp electrical service with circuit breakers; Public sewer; Water, sewer, natural gas and electricity connected
• Home design: Ranch style; One story; Entry on first floor; Front of home faces south; City lot with front and back yard
• Construction: Vinyl siding; Shingle roof; Built in 2000; Other type of foundation
• Exterior features: Rain gutters; Deck; Front porch; Shed(s)

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 4 bedrooms (all on the first floor/entry level)
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heat (natural gas)
• Interior features: Ceiling fan(s); Daylight, egress windows, full and partially finished basement
• Laundry & utility: Washer hookup; Gas dryer hookup; Laundry in basement and main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-70 ($-835/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (29.7% below list).
• Recommended offer: $134k (29.7% below list) — sets the bar for 1% rule.

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: Cavanaugh School (315 students, 89% FRL); Attwood School (193 students, 88% FRL) — zoned schools average 88% FRL vs 68% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+9.9%/yr); 146 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 98 units permitted in Eaton County in 2024 (0 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 $6k of value loss. Plan a longer hold.
• Eaton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $133,523 (29.7% 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. 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. 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?
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: 0.70% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.57%
• DSCR: 0.93
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $179,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4113 Heathgate Dr	0.29mi	3/1.0	1,323 (-4%)	2mo	$165,000	$125	78
4317 Seaway Dr	0.16mi	4/2.5 (+1)	1,404 (+2%)	5mo	$176,000	$125	74
4130 Windward Dr	0.33mi	4/2.0 (+1)	1,399 (+1%)	2mo	$175,000	$125	72
4123 Balmoral Dr	0.08mi	3/2.0	1,224 (-11%)	5mo	$150,000	$123	69
4340 Balmoral Dr	0.16mi	3/2.0	1,234 (-11%)	8mo	$190,000	$154	64
4131 Windward Dr	0.30mi	3/1.5	1,302 (-6%)	16mo	$179,025	$138	61
3725 Alpine Dr	0.61mi	3/1.5	1,480 (+7%)	4mo	$144,000	$97	54
3704 Maybel St	0.65mi	3/2.0	1,346 (-2%)	10mo	$175,000	$130	53
3921 Sheffield Blvd	0.57mi	3/1.5	1,302 (-6%)	17mo	$183,000	$141	48
3601 Sumpter St	0.73mi	3/1.5	1,504 (+9%)	8mo	$170,000	$113	43
4119 Thackin Dr	0.58mi	3/3.0	1,213 (-12%)	10mo	$160,000	$132	37
4001 Thackin Dr	0.63mi	3/1.5	1,213 (-12%)	18mo	$170,000	$140	33

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: -14.3%
• Equity multiple: 0.47×
• Total profit: $-28,241
• Equity at exit: $28,315

10-year hold

• IRR: 0.3%
• Equity multiple: 1.03×
• Total profit: $1,433
• Equity at exit: $16,419

Cash invested: $53,172 (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 48911

• Rents YoY: 9.9%
• Active inventory: 146
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,335 high
• Mortgage (P&I): −$996
• Tax from tax record: −$49 /mo · $593/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $-70

Break-even live

Break-even rent $1,423

Max offer price $177,612

Occupancy floor —

Sensitivity live

Price	-10% $38	-5% $-16	+0% $-70	+5% $-123	+10% $-177
Rent	-10% $-175	-5% $-122	+0% $-70	+5% $-17	+10% $36
Rate	-1.0pp $26	-0.5pp $-21	base $-70	+0.5pp $-119	+1.0pp $-169

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4245 W Jolly Rd Lansing, MI	3.0	2.0	1216	$1,199	$0.99	15d	1	0.69mi
3530 W Jolly Rd Unit 6 Lansing, MI	2.0	1.0	1049	$1,100	$1.05	23d	1	0.84mi
4106 Stillwell Ave Lansing, MI	3.0	1.5	1127	$2,100	$1.86	23d	1	0.85mi
2920 Hillcrest St Lansing, MI	3.0	1.0	1040	$1,225	$1.18	45d	1	1.19mi
2815 Mersey Ln Lansing, MI	2.0–3.0	2.0	1050	$1,325	$1.26	15d	2	1.19mi
2823 Hillcrest St Lansing, MI	3.0	1.0	925	$1,245	$1.35	23d	1	1.24mi
4125 Ingham St Lansing, MI	3.0	1.0	933	$1,300	$1.39	45d	1	1.30mi
2612 Fielding Dr Lansing, MI	2.0	1.0	1100	$1,095	$1.00	45d	1	1.31mi

Listing history 10 events

1. 2026-06-21
   days on market $189,900 Active 13 DOM
2. 2026-06-18
   days on market $189,900 Active 10 DOM
3. 2026-06-17
   days on market $189,900 Active 9 DOM
4. 2026-06-16
   days on market $189,900 Active 8 DOM
5. 2026-06-15
   price $189,900 Active 7 DOM
6. 2026-06-15
   days on market $199,900 Active 7 DOM
7. 2026-06-14
   days on market $199,900 Active 5 DOM
8. 2026-06-13
   days on market $199,900 Active 4 DOM
9. 2026-06-10
   days on market $199,900 Active 2 DOM
10. 2026-06-09
    listed $199,900 Active 1 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: $593 · $49/mo
• Projected year-2 tax: $1,759 · $147/mo
• Expected delta: +$1,166/yr (+$97/mo · 196.6%)

ⓘ 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: $16,023
• − Mortgage interest: −$10,637
• − Property taxes: −$593
• − Insurance: −$950
• − Repairs & maintenance: −$1,282
• − Management: −$1,282
• − Depreciation: −$5,524
• Taxable loss: −$4,245
• Est. tax savings @ 24.0%: +$1,019
• After-tax cash flow: $184/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): 39,876
• Household income: $56,631
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 2255.0

Population outlook (Eaton County) Hauer SSP2

• Today (2025): 110,811 people
• By 2030: 110,598 · -0.2%
• By 2040: 108,304 · -2.3%
• By 2050: 104,961 · -5.3%
• By 2075: 97,197 · -12.3%
• By 2100: 85,150 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Black 26% Hispanic / Latino 14% Two or more races 10% Asian 8%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 3% Slovak 2% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam, Philippines
• Languages at home: 83% English-only · Spanish 5% Other Indo-European 3% Other Asian/Pacific 2%

Political lean MEDSL · Eaton

• 2024 margin: Toss-up / Even · D 47.6% · R 50.8% · Other 1.6%
• 2008→2024 swing: -11.6pp toward R · 2008: 8.4pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: R+0.8 2016: R+5.5 2012: D+3.1 2008: D+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -179.62%
• Current HPI: 176.0632
• Rent YoY: ▲ 9.90%
• 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

2 events — show timeline

• 2026-06-08 Listed $199,900 REALCOMP
• 2026-06-08 Listed $199,900 Greater Lansing AoR

Property tax history

-9.5%/yr

Latest (2025): $593 · -5.4% YoY. Source: county tax records.