208 N Hosmer St · Lansing, MI 48912

$70,000

4 bd · 2.0 ba · 1,464 sqft · SingleFamily public records · 18 Days on market

Built 1908 2,178 sqft lot

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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
• 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

Welcome to 208 N Hosmer St in Lansing, an excellent opportunity for investors, renovators, or buyers looking to build instant equity. This 4-bedroom, 2-bath home is full of potential, featuring beautiful natural woodwork. While the home does need some love and updating, the upside is substantial. With renovations and improvements, this property has the potential to command a value well over $175,000, making it an attractive project for those looking to add value. Offering generous living space and plenty of opportunity to make it your own, this home is ready for its next chapter.

Key facts

• Natural woodwork
• 2,178 sq ft lot
• Garage

Tags

• NATURAL WOODWORK
• GENEROUS LIVING SPACE

Property features AI

Finance

• Other: Currently used as rental and primary residence

Exterior

• Parking: Detached parking
• Utilities: Public sewer
• Home design: Two-story home; Built in 1908; Entry level: 1
• Construction: Brick and block construction; Shingle roof; Barn(s) on property
• Exterior features: Front yard; Back yard; Front porch / porch

Interior

• Kitchen: Oven; Range
• Bedrooms: 4 bedrooms (Primary bedroom on main level); Bedroom sizes include approx. 11' x 11', 13' x 11', 13' x 11', and 12' x 11'
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Beamed ceilings; Built-in features; High ceilings; Natural woodwork; Primary bedroom on main level; Full basement (Michigan type); Wood-burning fireplace in living room
• Laundry & utility: Laundry located in basement; Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $642 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.3% 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; 14 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 34% of the median local income ($54k/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 $484 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 + 7.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $50k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,950 (1.5% below list)

Questions for the listing agent

1. Built in 1908 — 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: 2.22% ✓
• Cap rate: 17.30%
• Cash-on-cash: 39.33%
• DSCR: 2.75
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $158,112
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
910 Vine St	0.10mi	4/3.0	1,508 (+3%)	2mo	$145,000	$96	85
205 Hill St	0.22mi	3/2.0 (-1)	1,440 (-2%)	5mo	$113,500	$79	78
123 Ferguson St	0.48mi	4/2.0	1,474 (+1%)	7mo	$180,000	$122	71
127 Ferguson St	0.47mi	4/2.0	1,424 (-3%)	6mo	$180,000	$126	68
324 Jones St	0.44mi	4/1.0	1,464 (0%)	10mo	$140,000	$96	67
1320 Jerome St	0.46mi	4/2.0	1,524 (+4%)	6mo	$200,000	$131	66
838 May St	0.49mi	4/2.0	1,378 (-6%)	5mo	$112,000	$81	63
925 May St	0.52mi	3/1.5 (-1)	1,414 (-3%)	2mo	$205,000	$145	61
908 Larned St	0.56mi	3/2.0 (-1)	1,375 (-6%)	9mo	$115,000	$84	51
116 Rumsey Ave	0.70mi	3/1.5 (-1)	1,500 (+2%)	6mo	$162,000	$108	51
1016 E Oakland Ave	0.61mi	4/1.0	1,316 (-10%)	9mo	$51,000	$39	44
418 Clifford St	0.68mi	4/3.0	1,598 (+9%)	7mo	$183,000	$115	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 · 7.02% rent growth · sell at horizon

5-year hold

• IRR: 40.5%
• Equity multiple: 2.85×
• Total profit: $36,188
• Equity at exit: $10,437

10-year hold

• IRR: 48.9%
• Equity multiple: 6.80×
• Total profit: $113,673
• Equity at exit: $6,052

Cash invested: $19,600 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,553 high
• Mortgage (P&I): −$367
• Tax from tax record: −$188 /mo · $2,259/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $642

Break-even live

Break-even rent $740

Max offer price $70,000

Occupancy floor 54%

Sensitivity live

Price	-10% $682	-5% $662	+0% $642	+5% $623	+10% $603
Rent	-10% $520	-5% $581	+0% $642	+5% $704	+10% $765
Rate	-1.0pp $678	-0.5pp $660	base $642	+0.5pp $624	+1.0pp $606

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 S Bingham St Lansing, MI	4.0	1.0	1020	$1,500	$1.47	15d	1	0.31mi
921 Linden Grove Ave Lansing, MI	3.0	1.0	1694	$1,499	$0.88	45d	1	0.32mi
401 S Washington Sq Unit 201 Lansing, MI	3.0	1.0	1254	$1,560	$1.24	45d	1	0.67mi
605 S Grand Ave Unit 2 Lansing, MI	4.0	1.0	1200	$1,100	$0.92	45d	1	0.73mi
1027 Climax St Lansing, MI	3.0	1.5	1298	$1,550	$1.19	15d	1	0.74mi
433 Seymour Ave Unit 3 Lansing, MI	3.0	1.0	1250	$1,395	$1.12	45d	1	0.78mi
910 Dakin St Lansing, MI	3.0	1.0	908	$1,295	$1.43	45d	1	0.85mi
1102 Clark St Lansing, MI	3.0	1.0	1232	$1,550	$1.26	22d	1	0.87mi
329 S Clemens Ave Lansing, MI	3.0	1.0	1194	$1,400	$1.17	22d	1	1.01mi
712 N Sycamore St Lansing, MI	3.0	1.0	1100	$1,650	$1.50	22d	1	1.13mi
414 N Hayford Ave Lansing, MI	3.0	1.0	990	$1,425	$1.44	45d	1	1.16mi
1561 Massachusetts Ave Lansing, MI	3.0	2.0	1100	$1,400	$1.27	45d	1	1.17mi
1228 N Fairview Ave Lansing, MI	3.0	2.0	1100	$1,700	$1.55	45d	1	1.34mi
919 Princeton Ave Lansing, MI	3.0	1.5	1119	$1,475	$1.32	22d	1	1.43mi

Listing history 13 events

1. 2026-06-21
   days on market $70,000 Active 18 DOM
2. 2026-06-18
   days on market $70,000 Active 15 DOM
3. 2026-06-17
   days on market $70,000 Active 14 DOM
4. 2026-06-16
   days on market $70,000 Active 13 DOM
5. 2026-06-15
   days on market $70,000 Active 12 DOM
6. 2026-06-14
   days on market $70,000 Active 10 DOM
7. 2026-06-13
   days on market $70,000 Active 9 DOM
8. 2026-06-10
   days on market $70,000 Active 7 DOM
9. 2026-06-09
   days on market $70,000 Active 6 DOM
10. 2026-06-08
    days on market $70,000 Active 5 DOM
11. 2026-06-07
    days on market $70,000 Active 4 DOM
12. 2026-06-03
    remarks 586-char remark

    Show marketing remark (586 chars)

    Welcome to 208 N Hosmer St in Lansing, an excellent opportunity for investors, renovators, or buyers looking to build instant equity. This 4-bedroom, 2-bath home is full of potential, featuring beautiful natural woodwork. While the home does need some love and updating, the upside is substantial. With renovations and improvements, this property has the potential to command a value well over $175,000, making it an attractive project for those looking to add value. Offering generous living space and plenty of opportunity to make it your own, this home is ready for its next chapter.

13. 2026-06-03
    listed $70,000 Active 1 DOM

    Show marketing remark (586 chars)

    Welcome to 208 N Hosmer St in Lansing, an excellent opportunity for investors, renovators, or buyers looking to build instant equity. This 4-bedroom, 2-bath home is full of potential, featuring beautiful natural woodwork. While the home does need some love and updating, the upside is substantial. With renovations and improvements, this property has the potential to command a value well over $175,000, making it an attractive project for those looking to add value. Offering generous living space and plenty of opportunity to make it your own, this home is ready for its next chapter.

ⓘ 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: $2,259 · $188/mo
• Projected year-2 tax: $2,259 · $188/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 3/10 Moderate 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: $18,635
• − Mortgage interest: −$3,921
• − Property taxes: −$2,259
• − Insurance: −$350
• − Repairs & maintenance: −$1,491
• − Management: −$1,491
• − Depreciation: −$2,036
• Taxable income: $7,087
• Est. tax owed @ 24.0%: −$1,701
• After-tax cash flow: $6,007/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

+40.3% since first listed

7 events — show timeline

• 2026-06-03 Listed $70,000 REALCOMP
• 2026-06-03 Listed $70,000 Greater Lansing AoR
• 2017-08-28 Sold (Public Records) $49,900 Public Records
• 2017-08-15 Sold (MLS) $49,900 Greater Lansing AoR
• 2017-08-15 Sold (MLS) $49,900 REALCOMP
• 2017-06-27 Listed $49,900 Greater Lansing AoR
• 2017-06-27 Listed $49,900 REALCOMP

Property tax history

+4.4%/yr

Latest (2025): $2,259 · -18.9% YoY. Source: county tax records.