712 Sanford St · Lansing, MI 48906

$124,500

3 bd · 2.0 ba · 1,755 sqft · SingleFamily public records · 103 Days on market

Built 1935 9,148 sqft lot $71/sqft · 45% below area Est $130k · at est.

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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 +23.7/30.0
• ARV discount +9.5/15.0
• 1% rule +8.1/10.0
• DSCR +7.6/10.0
• Rent growth +5.0/5.0
• 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 712 Sanford! This 3-bedroom, 1.5-bath offers great bones in a convenient Lansing location. With laundry right on the first floor and an open-concept main level, this home is ready for your personal touch. It just needs some TLC to shine - perfect for a buyer looking to customize and add value. Seller is selling the property in as-is condition. Don't miss the chance to bring your vision and make this house your own!

Key facts

• 9,148 sq ft lot
• 2 garage spots
• Built 1935

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $113k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 (+10.5%/yr); 138 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 30% of the median local income ($64k/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 $861 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 + 8.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 6 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 $36k; list at $124k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,295 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.31% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.17%
• DSCR: 1.36
• GRM: 6.4

CMA / ARV

• ARV (median comp): $130,223
• List price: $124,500
• Delta: -4.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
533 Community St	0.24mi	4/2.0 (+1)	1,876 (+7%)	4mo	$172,500	$92	69
722 E Harris St	0.52mi	3/2.0	1,839 (+5%)	13mo	$175,000	$95	57
3226 N Cedar St	0.24mi	3/2.0	1,962 (+12%)	15mo	$177,000	$90	56
524 E Sheridan Rd	0.18mi	4/1.5 (+1)	1,558 (-11%)	24mo	$159,000	$102	46
228 Lynwood Circle Cir	0.48mi	3/1.5	1,529 (-13%)	17mo	$181,000	$118	40
2508 Gary Ave	0.71mi	3/1.0	1,614 (-8%)	11mo	$100,000	$62	40
514 Chilson Ave	0.44mi	2/2.0 (-1)	1,512 (-14%)	24mo	$147,000	$97	32

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: 2.6%
• Equity multiple: 1.11×
• Total profit: $3,703
• Equity at exit: $18,563

10-year hold

• IRR: 17.1%
• Equity multiple: 2.79×
• Total profit: $62,521
• Equity at exit: $10,764

Cash invested: $34,860 (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 48906

• Rents YoY: 10.5%
• Active inventory: 138
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,632 medium
• Mortgage (P&I): −$653
• Tax from tax record: −$348 /mo · $4,171/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $237

Break-even live

Break-even rent $1,332

Max offer price $124,500

Occupancy floor 80%

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: $31,125
• Closing costs: $3,735
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16751 Turner Rd Lansing, MI	4.0	2.0	1344	$1,599	$1.19	14d	1	0.55mi

Listing history 12 events

1. 2026-05-11
   status Pending 431-char remark

   Show marketing remark (441 chars)

   Welcome to 712 Sanford! This 3-bedroom, 1.5-bath offers great bones in a convenient Lansing location. With laundry right on the first floor and an open-concept main level, this home is ready for your personal touch. It just needs some TLC to shine — perfect for a buyer looking to customize and add value. Seller is selling the property in as-is condition. Don’t miss the chance to bring your vision and make this house your own!

2. 2026-05-11
   status Pending 441-char remark

   Show marketing remark (441 chars)

   Welcome to 712 Sanford! This 3-bedroom, 1.5-bath offers great bones in a convenient Lansing location. With laundry right on the first floor and an open-concept main level, this home is ready for your personal touch. It just needs some TLC to shine — perfect for a buyer looking to customize and add value. Seller is selling the property in as-is condition. Don’t miss the chance to bring your vision and make this house your own!

3. 2026-04-20
   status Active 431-char remark

   Show marketing remark (441 chars)

   Welcome to 712 Sanford! This 3-bedroom, 1.5-bath offers great bones in a convenient Lansing location. With laundry right on the first floor and an open-concept main level, this home is ready for your personal touch. It just needs some TLC to shine — perfect for a buyer looking to customize and add value. Seller is selling the property in as-is condition. Don’t miss the chance to bring your vision and make this house your own!

4. 2026-04-20
   status Active 441-char remark

   Show marketing remark (441 chars)

   Welcome to 712 Sanford! This 3-bedroom, 1.5-bath offers great bones in a convenient Lansing location. With laundry right on the first floor and an open-concept main level, this home is ready for your personal touch. It just needs some TLC to shine — perfect for a buyer looking to customize and add value. Seller is selling the property in as-is condition. Don’t miss the chance to bring your vision and make this house your own!

5. 2026-02-03
   historical 431-char remark

   Show marketing remark (431 chars)

   Welcome to 712 Sanford! This 3-bedroom, 1.5-bath offers great bones in a convenient Lansing location. With laundry right on the first floor and an open-concept main level, this home is ready for your personal touch. It just needs some TLC to shine - perfect for a buyer looking to customize and add value. Seller is selling the property in as-is condition. Don't miss the chance to bring your vision and make this house your own!

6. 2025-11-14
   listed $124,500 Active 431-char remark

   Show marketing remark (441 chars)

   Welcome to 712 Sanford! This 3-bedroom, 1.5-bath offers great bones in a convenient Lansing location. With laundry right on the first floor and an open-concept main level, this home is ready for your personal touch. It just needs some TLC to shine — perfect for a buyer looking to customize and add value. Seller is selling the property in as-is condition. Don’t miss the chance to bring your vision and make this house your own!

7. 2025-11-14
   listed $124,500 Active 441-char remark

   Show marketing remark (441 chars)

   Welcome to 712 Sanford! This 3-bedroom, 1.5-bath offers great bones in a convenient Lansing location. With laundry right on the first floor and an open-concept main level, this home is ready for your personal touch. It just needs some TLC to shine — perfect for a buyer looking to customize and add value. Seller is selling the property in as-is condition. Don’t miss the chance to bring your vision and make this house your own!

8. 2025-11-13
   historical $124,500 431-char remark

   Show marketing remark (431 chars)

   Welcome to 712 Sanford! This 3-bedroom, 1.5-bath offers great bones in a convenient Lansing location. With laundry right on the first floor and an open-concept main level, this home is ready for your personal touch. It just needs some TLC to shine - perfect for a buyer looking to customize and add value. Seller is selling the property in as-is condition. Don't miss the chance to bring your vision and make this house your own!

9. 2017-06-21
   soldstatus $36,000
10. 2017-06-21
    soldstatus $36,000
11. 2017-04-01
    listed $39,999
12. 2017-04-01
    listed $39,999

ⓘ 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: $4,171 · $348/mo
• Projected year-2 tax: $4,171 · $348/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 ≥97°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: $19,588
• − Mortgage interest: −$6,974
• − Property taxes: −$4,171
• − Insurance: −$622
• − Repairs & maintenance: −$1,567
• − Management: −$1,567
• − Depreciation: −$3,622
• Taxable income: $1,065
• Est. tax owed @ 24.0%: −$256
• After-tax cash flow: $2,591/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): 25,901
• Household income: $64,315
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 851.0

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 0.56)
• Race & ethnicity: White 64% Black 15% Two or more races 12% Hispanic / Latino 12% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -135.54%
• Current HPI: 228.7023
• Rent YoY: ▲ 10.50%
• 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

+211.3% since first listed

12 events — show timeline

• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-11 Pending — REALCOMP
• 2026-04-20 Relisted — MiRealSource-MiMLS
• 2026-04-20 Relisted — REALCOMP
• 2026-02-03 Listing Removed — MiRealSource-MiMLS
• 2025-11-14 Listed $124,500 MiRealSource-MiMLS
• 2025-11-14 Listed $124,500 REALCOMP
• 2025-11-13 Coming Soon $124,500 MiRealSource-MiMLS
• 2017-06-21 Sold (MLS) $36,000 Greater Lansing AoR
• 2017-06-21 Sold (MLS) $36,000 REALCOMP
• 2017-04-01 Listed $39,999 Greater Lansing AoR
• 2017-04-01 Listed $39,999 REALCOMP

Property tax history

+8.4%/yr

Latest (2025): $4,171 · +3.1% YoY. Source: county tax records.