419 W Jolly Rd · Lansing, MI 48910

$79,900

2 bd · 1.0 ba · 604 sqft · SingleFamily public records · 38 Days on market

Built 1937 0.38 ac lot Est $117k · 31% under ↓ 16% since listing

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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 +23.6/30.0
• ARV discount +15.0/15.0
• 1% rule +8.0/10.0
• DSCR +7.6/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Instant Equity and a Fun Treasure hunt all for you! In town charmer close to everything a must see. Main floor living with a huge fenced in backyard and attached deep garage, room for extra storage with an attic access area accessible through garage. 30 year roof done in 2018 and Low maintenance vinyl siding. Great bones! As is sale

Key facts

• Attic access area
• Attached deep garage
• Fenced in backyard

Tags

• FENCED IN BACKYARD
• ATTACHED DEEP GARAGE
• ATTIC ACCESS AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% 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 (+4.7%/yr); 175 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 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 $552 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 $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.30% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.11%
• DSCR: 1.36
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $116,572
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
419 W Jolly Rd	0.00mi	2/1.0	604 (0%)	1mo	$75,000	$124	99
204 E Cavanaugh Rd	0.60mi	2/1.0	649 (+8%)	9mo	$125,000	$193	52

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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-1,411
• Equity at exit: $11,913

10-year hold

• IRR: 10.1%
• Equity multiple: 1.86×
• Total profit: $19,261
• Equity at exit: $6,908

Cash invested: $22,372 (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 48910

• Rents YoY: 4.7%
• Active inventory: 175
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,040 high
• Mortgage (P&I): −$419
• Tax from tax record: −$218 /mo · $2,617/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $151

Break-even live

Break-even rent $849

Max offer price $79,900

Occupancy floor 80%

Sensitivity live

Price	-10% $196	-5% $174	+0% $151	+5% $129	+10% $106
Rent	-10% $69	-5% $110	+0% $151	+5% $192	+10% $233
Rate	-1.0pp $191	-0.5pp $172	base $151	+0.5pp $130	+1.0pp $109

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
911 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$1,000	$1.29	22d	1	0.63mi
1001 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$850	$1.10	15d	4	0.69mi
645 E Jolly Rd Lansing, MI	1.0–2.0	1.0	775	$825	$1.06	45d	1	0.74mi
5540 Kaynorth Rd Unit 4 Lansing, MI	2.0	1.0	745	$925	$1.24	45d	1	0.76mi
3529 Bergman Ave Unit Bergman 3533 Lansing, MI	2.0	1.0	500	$900	$1.80	22d	1	0.95mi
3533 Bergman Ave Lansing, MI	2.0	1.0	500	$900	$1.80	22d	1	0.95mi
909 E Jolly Rd Lansing, MI	1.0	1.0	700	$700	$1.00	45d	1	0.96mi
910 E Jolly Rd #2 Lansing, MI	1.0–2.0	1.0	625	$895	$1.43	22d	2	0.96mi
3515 Bergman Ave Lansing, MI	2.0	1.0	640	$1,195	$1.87	22d	1	0.99mi
3716 Homewood Ave Lansing, MI	2.0	1.0	692	$1,300	$1.88	22d	1	1.18mi
3031 S Washington Ave Lansing, MI	1.0–2.0	1.0	725	$1,100	$1.52	45d	1	1.26mi
315 E Edgewood Blvd Lansing, MI	2.0	1.0	615	$1,245	$2.02	15d	14	1.32mi
915 Loa St Lansing, MI	2.0	1.0	674	$999	$1.48	45d	1	1.32mi
4318 Pleasant Grove Rd Lansing, MI	1.0–3.0	1.0–2.0	722	$1,125	$1.56	15d	1	1.33mi
2114 Ferrol St Unit 1 Lansing, MI	2.0	1.0	700	$950	$1.36	22d	1	1.44mi

Listing history 8 events

1. 2026-04-10
   status Pending 335-char remark

   Show marketing remark (335 chars)

   Instant Equity and a Fun Treasure hunt all for you! In town charmer close to everything a must see. Main floor living with a huge fenced in backyard and attached deep garage, room for extra storage with an attic access area accessible through garage. 30 year roof done in 2018 and Low maintenance vinyl siding. Great bones! As is sale

2. 2026-04-10
   status Pending

   Show marketing remark (335 chars)

   Instant Equity and a Fun Treasure hunt all for you! In town charmer close to everything a must see. Main floor living with a huge fenced in backyard and attached deep garage, room for extra storage with an attic access area accessible through garage. 30 year roof done in 2018 and Low maintenance vinyl siding. Great bones! As is sale

3. 2026-03-20
   price $79,900 335-char remark

   Show marketing remark (335 chars)

   Instant Equity and a Fun Treasure hunt all for you! In town charmer close to everything a must see. Main floor living with a huge fenced in backyard and attached deep garage, room for extra storage with an attic access area accessible through garage. 30 year roof done in 2018 and Low maintenance vinyl siding. Great bones! As is sale

4. 2026-03-20
   price $79,900

   Show marketing remark (335 chars)

   Instant Equity and a Fun Treasure hunt all for you! In town charmer close to everything a must see. Main floor living with a huge fenced in backyard and attached deep garage, room for extra storage with an attic access area accessible through garage. 30 year roof done in 2018 and Low maintenance vinyl siding. Great bones! As is sale

5. 2026-03-09
   price $89,000 335-char remark

   Show marketing remark (335 chars)

   Instant Equity and a Fun Treasure hunt all for you! In town charmer close to everything a must see. Main floor living with a huge fenced in backyard and attached deep garage, room for extra storage with an attic access area accessible through garage. 30 year roof done in 2018 and Low maintenance vinyl siding. Great bones! As is sale

6. 2026-03-09
   price $89,000

   Show marketing remark (335 chars)

   Instant Equity and a Fun Treasure hunt all for you! In town charmer close to everything a must see. Main floor living with a huge fenced in backyard and attached deep garage, room for extra storage with an attic access area accessible through garage. 30 year roof done in 2018 and Low maintenance vinyl siding. Great bones! As is sale

7. 2026-03-03
   listed $95,000 Active 335-char remark

   Show marketing remark (335 chars)

   Instant Equity and a Fun Treasure hunt all for you! In town charmer close to everything a must see. Main floor living with a huge fenced in backyard and attached deep garage, room for extra storage with an attic access area accessible through garage. 30 year roof done in 2018 and Low maintenance vinyl siding. Great bones! As is sale

8. 2026-03-03
   listed $95,000 Active

   Show marketing remark (335 chars)

   Instant Equity and a Fun Treasure hunt all for you! In town charmer close to everything a must see. Main floor living with a huge fenced in backyard and attached deep garage, room for extra storage with an attic access area accessible through garage. 30 year roof done in 2018 and Low maintenance vinyl siding. Great bones! As is sale

ⓘ 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: $2,617 · $218/mo
• Projected year-2 tax: $2,617 · $218/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: $12,479
• − Mortgage interest: −$4,476
• − Property taxes: −$2,617
• − Insurance: −$400
• − Repairs & maintenance: −$998
• − Management: −$998
• − Depreciation: −$2,324
• Taxable income: $666
• Est. tax owed @ 24.0%: −$160
• After-tax cash flow: $1,654/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): 32,800
• Household income: $54,712
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1305.0

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 58% Black 16% Hispanic / Latino 12% Two or more races 12% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 9% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 6% Chinese 1% Other Indo-European 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: ▼ -211.82%
• Current HPI: 196.8087
• Rent YoY: ▲ 4.71%
• 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

-15.9% since first listed

8 events — show timeline

• 2026-04-10 Pending — REALCOMP
• 2026-04-10 Pending — Greater Lansing AoR
• 2026-03-20 Price Changed $79,900 REALCOMP
• 2026-03-20 Price Changed $79,900 Greater Lansing AoR
• 2026-03-09 Price Changed $89,000 REALCOMP
• 2026-03-09 Price Changed $89,000 Greater Lansing AoR
• 2026-03-03 Listed $95,000 Greater Lansing AoR
• 2026-03-03 Listed $95,000 REALCOMP

Property tax history

+3.0%/yr

Latest (2025): $2,617 · +3.0% YoY. Source: county tax records.