418 S Magnolia Ave · Lansing, MI 48912

$8,900

2 bd · 1.0 ba · 737 sqft · SingleFamily public records · 4 Days on market

Built 1925 3,920 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

DUE TO UNSAFE INTERIOR CONDITIONS THERE IS NO ACCESS/ENTRY. A HOLD HARMLESS FORM MUST BE SIGNED ALONG WITH ANY OFFERS. This property is listed "as-is". There may be unpermitted modifications. This property is eligible under the Freddie Mac First Look Initiative through 09/16/2026. See HomeSteps.com for more information on FMFL. Please SUBMIT A COMPLETED OFFER SUBIMSSION CHECKLIST (ATTACHED) W/ OFFER. Sold as-is.

Key facts

• 3,920 sq ft lot
• Built 1925
• Listed 4 days

Property features AI

Exterior

• Parking: Off-street parking; No attached garage
• Utilities: Public sewer
• Home design: Bungalow style; One level; Built in 1925
• Construction: Vinyl and wood siding
• Exterior features: Lot approximately 0.09 acres (about 33 x 127)

Interior

• Kitchen: No appliances listed
• Bedrooms: 2 bedrooms (including primary bedroom)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; No cooling
• Interior features: Full basement; Dining room; Living room
• Laundry & utility: Laundry located on the lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $9k.

Deal economics

• At list price, monthly cash flow is $860 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $9k).
• Cap rate 122.2% 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: Pattengill School (600 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 (+7.0%/yr); 100 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $62 of loan paydown is wiped out by about $267 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 + 7.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 4 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $8,900

Questions for the listing agent

1. Built in 1925 — 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. 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: 13.10% ✓
• Cap rate: 122.20%
• Cash-on-cash: 413.96%
• DSCR: 19.42
• GRM: 0.6

CMA / ARV

• ARV (on-the-fly): $61,908
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 S Hayford Ave	0.09mi	2/1.0	689 (-6%)	2mo	$51,000	$74	84
517 S Clemens Ave	0.14mi	2/1.0	693 (-6%)	2mo	$58,000	$84	82
629 S Foster Ave	0.24mi	2/1.0	688 (-7%)	2mo	$56,000	$81	76
312 S Francis Ave	0.20mi	2/1.0	680 (-8%)	4mo	$82,900	$122	74
421 S Clemens Ave	0.10mi	2/1.0	839 (+14%)	2mo	$110,000	$131	71
515 S Clemens Ave	0.13mi	1/1.0 (-1)	659 (-11%)	5mo	$42,000	$64	67
640 S Magnolia Ave	0.22mi	2/1.0	650 (-12%)	4mo	$50,000	$77	67
520 S Leslie St	0.26mi	2/1.0	840 (+14%)	1mo	$113,000	$135	64
510 Regent St	0.20mi	3/1.0 (+1)	836 (+13%)	5mo	$77,000	$92	59
435 N Magnolia Ave	0.62mi	2/1.0	800 (+8%)	5mo	$95,000	$119	52
1119 Leslie St	0.56mi	2/1.0	824 (+12%)	5mo	$64,000	$78	50
1111 Regent St	0.52mi	1/1.0 (-1)	836 (+13%)	3mo	$25,000	$30	46

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 · 7.02% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 24.37×
• Total profit: $58,234
• Equity at exit: $1,327

10-year hold

• IRR: —
• Equity multiple: 58.45×
• Total profit: $143,160
• Equity at exit: $770

Cash invested: $2,492 (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 48912

• Rents YoY: 7.0%
• Active inventory: 100
• Price-to-rent: 0.6×

Monthly cashflow live

• Estimated rent: $1,166 high
• Mortgage (P&I): −$47
• Tax est. 1.5%: −$11 /mo · $134/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $860

Break-even live

Break-even rent $78

Max offer price $8,900

Occupancy floor 21%

Sensitivity live

Price	-10% $866	-5% $863	+0% $860	+5% $857	+10% $854
Rent	-10% $768	-5% $814	+0% $860	+5% $906	+10% $952
Rate	-1.0pp $864	-0.5pp $862	base $860	+0.5pp $857	+1.0pp $855

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: $2,225
• Closing costs: $267
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2208 Marcus St Lansing, MI	3.0	1.0	616	$1,175	$1.91	23d	1	0.04mi
2010 E Michigan Ave Unit 209 Lansing, MI	1.0	1.0	730	$1,350	$1.85	15d	1	0.31mi
936 N Fairview Ave Lansing, MI	1.0–2.0	1.0	825	$1,245	$1.51	45d	2	1.05mi
129 S Hosmer St Unit 1 Lansing, MI	1.0	1.0	500	$795	$1.59	23d	1	1.09mi
1199 Arbor Dr Unit 10 East Lansing, MI	1.0	1.0	500	$875	$1.75	45d	1	1.21mi
1420 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$750	$1.07	23d	3	1.24mi
1424 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$915	$1.31	45d	1	1.26mi
1245 Weber Dr Unit 2 Lansing, MI	2.0	1.0	700	$1,250	$1.79	45d	1	1.32mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	45d	1	1.42mi
313 E Saint Joseph St Lansing, MI	2.0	1.0	475	$1,150	$2.42	15d	7	1.46mi
509 Cherry St Unit 2 Lansing, MI	1.0	1.0	550	$975	$1.77	23d	1	1.47mi

Listing history 3 events

1. 2026-06-21
   days on market $8,900 Active 4 DOM
2. 2026-06-17
   remarks 415-char remark

   Show marketing remark (425 chars)

   DUE TO UNSAFE INTERIOR CONDITIONS THERE IS NO ACCESS/ENTRY. A HOLD HARMLESS FORM MUST BE SIGNED ALONG WITH ANY OFFERS. This property is listed "as-is". There may be unpermitted modifications. This property is eligible under the Freddie Mac First Look Initiative through 09/16/2026. See HomeSteps.com for more information on FMFL. Please SUBMIT A COMPLETED OFFER SUBIMSSION CHECKLIST (ATTACHED) W/ OFFER. Sold as-is.

3. 2026-06-17
   listed $8,900 Active 1 DOM

   Show marketing remark (425 chars)

   DUE TO UNSAFE INTERIOR CONDITIONS THERE IS NO ACCESS/ENTRY. A HOLD HARMLESS FORM MUST BE SIGNED ALONG WITH ANY OFFERS. This property is listed "as-is". There may be unpermitted modifications. This property is eligible under the Freddie Mac First Look Initiative through 09/16/2026. See HomeSteps.com for more information on FMFL. Please SUBMIT A COMPLETED OFFER SUBIMSSION CHECKLIST (ATTACHED) W/ OFFER. Sold as-is.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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: $13,992
• − Mortgage interest: −$499
• − Property taxes: −$134
• − Insurance: −$44
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$259
• Taxable income: $10,818
• Est. tax owed @ 24.0%: −$2,596
• After-tax cash flow: $7,720/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): 17,674
• Household income: $54,429
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 1171.0

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 56% Black 22% Two or more races 12% Hispanic / Latino 10% Asian 4%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Romanian 5% Iranian 4% Lithuanian 3%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 5% French/Haitian/Cajun 1% Korean 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: ▼ -167.67%
• Current HPI: 171.1549
• Rent YoY: ▲ 7.02%
• 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

• 2026-06-17 Listed $8,900 REALCOMP
• 2026-06-17 Listed $8,900 Greater Lansing AoR

Property tax history

+3.8%/yr

Latest (2025): $1,486 · +2.9% YoY. Source: county tax records.