1209 W Mount Hope Ave · Lansing, MI 48910

$44,900

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 16 Days on market

Built 1924 5,227 sqft lot $50/sqft · 73% below area

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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
• 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

* Seller has received multiple offers, H & B due 5/19/2026 * . Bungalow home located in the city of Lansing offering a great opportunity for investors or homeowners alike. This home features 2 bedrooms, 1 bath, with a 20x23 walk-up attic that provides the potential to be finished for additional living space. Property has a fenced yard with a detached garage. Property is being sold As Is.

Key facts

• Fenced yard
• Walk-up attic
• 5,227 sq ft lot

Tags

• WALK-UP ATTIC
• FENCED YARD

Property features AI

Exterior

• Parking: Detached parking; Driveway
• Utilities: Public sewer
• Home design: Built in 1924; One-and-a-half story
• Construction: Wood siding
• Exterior features: Back yard fencing; City lot

Interior

• Kitchen: Kitchen
• Bedrooms: 2 bedrooms (Primary bedroom and one additional bedroom)
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Vinyl flooring; Block basement
• Laundry & utility: No laundry hookups listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.3% 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, 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); 177 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 $310 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 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: property tax is 4.8% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,226 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — 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: 2.59% ✓
• Cap rate: 19.26%
• Cash-on-cash: 46.29%
• DSCR: 3.06
• GRM: 3.2

CMA / ARV

• ARV (median comp): $134,765
• List price: $44,900
• Delta: -66.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1824 S Rundle Ave	0.31mi	3/1.0 (+1)	915 (+2%)	0mo	$176,000	$192	78
1315 Goodrich St	0.09mi	2/1.0	797 (-11%)	2mo	$145,400	$182	74
1500 Park Ave	0.39mi	3/1.0 (+1)	864 (-4%)	2mo	$155,000	$179	68
1303 Kelsey Ave	0.33mi	3/1.0 (+1)	870 (-3%)	8mo	$178,500	$205	68
2104 S Rundle Ave	0.32mi	3/2.0 (+1)	939 (+4%)	1mo	$135,500	$144	68
1618 Loraine Ave Lot : 192	0.44mi	3/1.0 (+1)	932 (+4%)	2mo	$175,000	$188	67
1032 Kelsey Ave	0.33mi	3/1.0 (+1)	840 (-7%)	5mo	$105,000	$125	64
1723 Osband Ave	0.50mi	3/1.5 (+1)	882 (-2%)	4mo	$145,000	$164	63
1323 Cooper Ave	0.14mi	3/1.0 (+1)	1,027 (+14%)	4mo	$186,000	$181	62
1424 Hess Ave	0.46mi	3/2.0 (+1)	912 (+1%)	7mo	$142,400	$156	61
1733 Victor Ave	0.60mi	3/1.5 (+1)	920 (+2%)	7mo	$179,900	$196	55
725 Dunlap St	0.72mi	2/1.0	1,029 (+14%)	3mo	$125,000	$121	40

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: 45.9%
• Equity multiple: 3.05×
• Total profit: $25,740
• Equity at exit: $6,695

10-year hold

• IRR: 52.6%
• Equity multiple: 6.66×
• Total profit: $71,203
• Equity at exit: $3,882

Cash invested: $12,572 (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: 177
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,162 high
• Mortgage (P&I): −$235
• Tax from tax record: −$178 /mo · $2,141/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $485

Break-even live

Break-even rent $548

Max offer price $44,900

Occupancy floor 53%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1913 Stirling Ave Unit 1 Lansing, MI	2.0	2.0	1100	$1,200	$1.09	43d	1	0.20mi
1815 Potomac Cir Lansing, MI	2.0	1.0	1002	$1,200	$1.20	13d	1	0.40mi
1828 Davis Ave Lansing, MI	2.0	1.0	700	$1,150	$1.64	43d	1	0.60mi
915 Loa St Lansing, MI	2.0	1.0	674	$999	$1.48	43d	1	0.76mi
430 Dunlap St Lansing, MI	2.0	1.0	940	$1,450	$1.54	21d	1	0.86mi
3031 S Washington Ave Lansing, MI	1.0–2.0	1.0	725	$1,100	$1.52	43d	1	0.89mi
1330 W Hillsdale St Lansing, MI	3.0	1.0	1008	$1,550	$1.54	43d	1	1.09mi
2009 W Holmes Rd Unit 11 Lansing, MI	2.0	1.0	800	$925	$1.16	13d	1	1.14mi
401 E Willard Ave Unit 19 Lansing, MI	2.0	1.0	775	$1,000	$1.29	43d	1	1.15mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	13d	1	1.15mi
3334 Pleasant Grove Rd Unit 19 Lansing, MI	2.0	1.0	700	$999	$1.43	13d	1	1.18mi
3334 Pleasant Grove Rd Apt 10 Lansing, MI	2.0	1.0	800	$900	$1.12	43d	1	1.18mi
3334 Pleasant Grove Rd Apt 15 Lansing, MI	2.0	1.0	800	$950	$1.19	43d	1	1.18mi
2711 Dunlap St Lansing, MI	3.0	1.0	1020	$1,350	$1.32	44d	1	1.18mi
3501 Simken Dr Lansing, MI	2.0	1.0	900	$950	$1.06	43d	1	1.19mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	21d	3	1.24mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	43d	9	1.24mi
515 S Chestnut St Lansing, MI	1.0	1.0	646	$942	$1.46	13d	8	1.24mi
420 S Walnut St Lansing, MI	1.0	1.0	525	$875	$1.67	43d	1	1.32mi
1109 W Washtenaw St Unit 5 Lansing, MI	2.0	1.0	755	$795	$1.05	43d	1	1.33mi
2114 Ferrol St Unit 1 Lansing, MI	2.0	1.0	700	$950	$1.36	21d	1	1.33mi
3313 W Mt Hope Ave Lansing, MI	2.0	1.0–2.0	869	$1,296	$1.49	13d	6	1.34mi
3518 Davidson Dr Lansing, MI	2.0	2.0	850	$1,115	$1.31	43d	3	1.35mi
3606 Pleasant Grove Rd Lansing, MI	1.0–2.0	1.0	812	$1,100	$1.35	43d	1	1.35mi
3407 W Mount Hope Ave Lansing, MI	2.0	2.0	1000	$995	$0.99	13d	1	1.40mi
313 E Saint Joseph St Lansing, MI	2.0	1.0	475	$1,150	$2.42	13d	7	1.45mi
1001 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$850	$1.10	13d	4	1.47mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	43d	1	1.48mi
3515 Bergman Ave Lansing, MI	2.0	1.0	640	$1,195	$1.87	21d	1	1.48mi
911 W Cavanaugh Rd Lansing, MI	1.0–2.0	1.0	775	$1,000	$1.29	21d	1	1.50mi
401 S Washington Sq Unit 212 Lansing, MI	1.0	1.0	827	$1,330	$1.61	43d	1	1.50mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	43d	1	1.50mi

Listing history 2 events

1. 2026-05-11
   listed $44,900 Active 327-char remark

   Show marketing remark (394 chars)

   * Seller has received multiple offers, H & B due 5/19/2026 * . Bungalow home located in the city of Lansing offering a great opportunity for investors or homeowners alike. This home features 2 bedrooms, 1 bath, with a 20x23 walk-up attic that provides the potential to be finished for additional living space. Property has a fenced yard with a detached garage. Property is being sold As Is.

2. 2026-05-11
   listed $44,900 Active 327-char remark

   Show marketing remark (394 chars)

   * Seller has received multiple offers, H & B due 5/19/2026 * . Bungalow home located in the city of Lansing offering a great opportunity for investors or homeowners alike. This home features 2 bedrooms, 1 bath, with a 20x23 walk-up attic that provides the potential to be finished for additional living space. Property has a fenced yard with a detached garage. Property is being sold As Is.

ⓘ 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: $2,141 · $178/mo
• Projected year-2 tax: $2,141 · $178/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 ≥96°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: $13,938
• − Mortgage interest: −$2,515
• − Property taxes: −$2,141
• − Insurance: −$224
• − Repairs & maintenance: −$1,115
• − Management: −$1,115
• − Depreciation: −$1,306
• Taxable income: $5,521
• Est. tax owed @ 24.0%: −$1,325
• After-tax cash flow: $4,495/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

+0.0% since first listed

6 events — show timeline

• 2026-06-05 Sold (MLS) $44,900 REALCOMP
• 2026-06-05 Sold (MLS) $44,900 Greater Lansing AoR
• 2026-05-27 Pending — REALCOMP
• 2026-05-27 Pending — Greater Lansing AoR
• 2026-05-11 Listed $44,900 REALCOMP
• 2026-05-11 Listed $44,900 Greater Lansing AoR

Property tax history

+3.9%/yr

Latest (2025): $2,141 · -12.2% YoY. Source: county tax records.