908 N Pine St · Lansing, MI 48906

$85,000

3 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 78 Days on market

Built 1913 2,613 sqft lot $69/sqft · 12% below area Est $96k · 12% under

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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
• ARV discount +12.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 908 N Pine in Lansing, a 3-bedroom, 1-bath home full of character and opportunity. Featuring beautiful natural woodwork, a formal dining room, and plenty of living space, this home offers both charm and functionality. The covered front porch provides a great spot to relax, while the large yard offers room for outdoor enjoyment. The full bathroom includes both a tub and shower, adding convenience for everyday living. The property is currently tenant-occupied, with tenants paying $750/month plus utilities (trash paid by tenant), making this a solid investment opportunity. The seller is also offering to install a new roof after closing (current roof is older but not leaking), providing added value and peace of mind for the next owner. With strong rental potential and classic features throughout, this property is a great addition to any portfolio or a future owner-occupant opportunity.

Key facts

• Natural woodwork
• Covered front porch
• Formal dining room

Tags

• NATURAL WOODWORK
• FORMAL DINING ROOM
• COVERED FRONT PORCH
• LARGE YARD
• FULL BATHROOM
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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 (+10.5%/yr); 138 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% 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 $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($80k) 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: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.56% ✓
• Cap rate: 12.26%
• Cash-on-cash: 21.30%
• DSCR: 1.95
• GRM: 5.3

CMA / ARV

• ARV (median comp): $96,411
• List price: $85,000
• Delta: -11.84%
• 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
908 N Walnut St	0.16mi	4/1.5 (+1)	1,248 (+1%)	1mo	$125,000	$100	82
905 N Sycamore St	0.11mi	3/1.5	1,368 (+11%)	0mo	$130,000	$95	74
920 Clyde St	0.44mi	3/1.5	1,204 (-2%)	2mo	$170,000	$141	73
502 N Butler Blvd	0.42mi	3/1.0	1,176 (-4%)	1mo	$144,000	$122	72
908 Clyde St	0.43mi	2/1.0 (-1)	1,222 (-1%)	3mo	$138,000	$113	71
113 W Willow St	0.47mi	3/1.0	1,287 (+4%)	0mo	$85,000	$66	70
919 Princeton Ave	0.33mi	3/1.5	1,119 (-9%)	2mo	$60,000	$54	66
1043 Ontario St	0.57mi	3/1.0	1,152 (-6%)	2mo	$54,900	$48	61
425 N Sycamore St	0.41mi	3/2.0	1,109 (-10%)	2mo	$113,000	$102	58
1217 W Shiawassee St	0.69mi	3/1.5	1,316 (+7%)	3mo	$147,000	$112	52
1313 S Genesee Dr	0.69mi	3/2.0	1,351 (+10%)	4mo	$218,000	$161	44
1130 Theodore St	0.52mi	2/1.0 (-1)	1,048 (-15%)	2mo	$112,000	$107	44

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: 19.6%
• Equity multiple: 1.85×
• Total profit: $20,198
• Equity at exit: $12,674

10-year hold

• IRR: 31.2%
• Equity multiple: 4.54×
• Total profit: $84,369
• Equity at exit: $7,349

Cash invested: $23,800 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,328 high
• Mortgage (P&I): −$446
• Tax from tax record: −$146 /mo · $1,751/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $422

Break-even live

Break-even rent $794

Max offer price $85,000

Occupancy floor 63%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1010 N Pine St Unit B Lansing, MI	2.0	1.0	750	$1,100	$1.47	43d	1	0.09mi
731 N Sycamore St Unit 1 Lansing, MI	2.0	1.0	950	$945	$0.99	43d	1	0.18mi
712 N Sycamore St Lansing, MI	3.0	1.0	1100	$1,650	$1.50	21d	1	0.19mi
410 W Lapeer St Unit 1 Lansing, MI	2.0	1.0	800	$1,050	$1.31	21d	1	0.30mi
919 Princeton Ave Lansing, MI	3.0	1.5	1119	$1,475	$1.32	21d	1	0.31mi
524 N Walnut St Lansing, MI	2.0	1.0	1000	$1,150	$1.15	43d	1	0.36mi
433 Seymour Ave Unit 3 Lansing, MI	3.0	1.0	1250	$1,395	$1.12	43d	1	0.45mi
1012 Ontario St Lansing, MI	4.0	2.0	1320	$1,600	$1.21	21d	1	0.53mi
117 E North St Unit A Lansing, MI	2.0	1.0	812	$1,050	$1.29	13d	1	0.68mi
832 N Larch St Apt 3 Lansing, MI	2.0	1.0	890	$1,095	$1.23	43d	1	0.80mi
620 May St Lansing, MI	1.0–2.0	1.0–2.0	1126	$1,578	$1.40	13d	12	0.85mi
1109 W Washtenaw St Unit 5 Lansing, MI	2.0	1.0	755	$795	$1.05	43d	1	0.97mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	13d	9	1.07mi
401 S Washington Sq Unit 201 Lansing, MI	3.0	1.0	1254	$1,560	$1.24	43d	1	1.07mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	43d	1	1.07mi
905 E Shiawassee St Unit 837-01 Lansing, MI	2.0	1.0	800	$850	$1.06	43d	1	1.16mi
905 E Shiawassee St Unit 837-02 Lansing, MI	2.0	1.0	800	$750	$0.94	43d	1	1.16mi
730 Johnson Ave Lansing, MI	2.0	1.0	840	$1,225	$1.46	43d	1	1.24mi
605 S Grand Ave Unit 2 Lansing, MI	4.0	1.0	1200	$1,100	$0.92	43d	1	1.27mi
1330 W Hillsdale St Lansing, MI	3.0	1.0	1008	$1,550	$1.54	43d	1	1.28mi
1561 Massachusetts Ave Lansing, MI	3.0	2.0	1100	$1,400	$1.27	43d	1	1.33mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	43d	1	1.35mi
824 Cleveland St Lansing, MI	2.0	1.0	839	$1,150	$1.37	21d	1	1.36mi
1102 Clark St Lansing, MI	3.0	1.0	1232	$1,550	$1.26	21d	1	1.44mi
507 S Hosmer St Lansing, MI	2.0	1.0	1120	$1,075	$0.96	43d	1	1.44mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	13d	1	1.45mi
208 S Bingham St Lansing, MI	4.0	1.0	1020	$1,500	$1.47	13d	1	1.45mi
805 Bement St Unit Hosmer 507 Lansing, MI	2.0	1.0	1120	$1,075	$0.96	43d	1	1.47mi

Listing history 18 events

1. 2026-06-18
   days on market $85,000 Active 78 DOM
2. 2026-06-17
   days on market $85,000 Active 77 DOM
3. 2026-06-16
   days on market $85,000 Active 76 DOM
4. 2026-06-15
   days on market $85,000 Active 75 DOM
5. 2026-06-14
   days on market $85,000 Active 73 DOM
6. 2026-06-13
   days on market $85,000 Active 72 DOM
7. 2026-06-10
   days on market $85,000 Active 70 DOM
8. 2026-06-09
   days on market $85,000 Active 69 DOM
9. 2026-06-08
   days on market $85,000 Active 68 DOM
10. 2026-06-07
    days on market $85,000 Active 67 DOM
11. 2026-06-05
    days on market $85,000 Active 64 DOM
12. 2026-06-03
    days on market $85,000 Active 63 DOM
13. 2026-06-02
    days on market $85,000 Active 62 DOM
14. 2026-06-01
    days on market $85,000 Active 61 DOM
15. 2026-05-31
    days on market $85,000 Active 60 DOM
16. 2026-05-30
    days on market $85,000 Active 59 DOM
17. 2026-04-01
    listed $85,000 Active 906-char remark

    Show marketing remark (905 chars)

    Welcome to 908 N Pine in Lansing, a 3-bedroom, 1-bath home full of character and opportunity. Featuring beautiful natural woodwork, a formal dining room, and plenty of living space, this home offers both charm and functionality. The covered front porch provides a great spot to relax, while the large yard offers room for outdoor enjoyment. The full bathroom includes both a tub and shower, adding convenience for everyday living. The property is currently tenant-occupied, with tenants paying $750/month plus utilities (trash paid by tenant), making this a solid investment opportunity. The seller is also offering to install a new roof after closing (current roof is older but not leaking), providing added value and peace of mind for the next owner. With strong rental potential and classic features throughout, this property is a great addition to any portfolio or a future owner-occupant opportunity.

18. 2026-04-01
    listed $85,000 Active 905-char remark

    Show marketing remark (905 chars)

    Welcome to 908 N Pine in Lansing, a 3-bedroom, 1-bath home full of character and opportunity. Featuring beautiful natural woodwork, a formal dining room, and plenty of living space, this home offers both charm and functionality. The covered front porch provides a great spot to relax, while the large yard offers room for outdoor enjoyment. The full bathroom includes both a tub and shower, adding convenience for everyday living. The property is currently tenant-occupied, with tenants paying $750/month plus utilities (trash paid by tenant), making this a solid investment opportunity. The seller is also offering to install a new roof after closing (current roof is older but not leaking), providing added value and peace of mind for the next owner. With strong rental potential and classic features throughout, this property is a great addition to any portfolio or a future owner-occupant opportunity.

ⓘ 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: $1,751 · $146/mo
• Projected year-2 tax: $1,751 · $146/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $15,942
• − Mortgage interest: −$4,761
• − Property taxes: −$1,751
• − Insurance: −$425
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − Depreciation: −$2,473
• Taxable income: $3,981
• Est. tax owed @ 24.0%: −$956
• After-tax cash flow: $4,114/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

+0.0% since first listed

2 events — show timeline

• 2026-04-01 Listed $85,000 REALCOMP
• 2026-04-01 Listed $85,000 Greater Lansing AoR

Property tax history

+3.5%/yr

Latest (2025): $1,751 · +2.9% YoY. Source: county tax records.