1424 Massachusetts Ave · Lansing, MI 48906

$124,900

3 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 20 Days on market

Built 1917 4,356 sqft lot Est $115k · 9% over

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Why this score? — see what drove the D 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 +13.9/30.0
• 1% rule +6.3/10.0
• Rent growth +5.0/5.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• ARV discount +3.4/15.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautiful and spacious home has been recently remodeled and is move in ready. Hardwood floors shine throughout the home. Stylish cabinet hardware and new countertop pair nicely with the stainless steel appliances in the kitchen. Tile shower and vinyl floor give the bathroom a modern charm. This one won't last long. Schedule your showing today!

Key facts

• Remodeled kitchen
• Hardwood floors
• Tile shower

Tags

• HARDWOOD FLOORS
• REMODELED KITCHEN
• STAINLESS STEEL APPLIANCES
• TILE SHOWER
• VINYL FLOOR

Property features AI

Finance

• Other: Suitable for primary residence or investment

Exterior

• Parking: No attached garage
• Utilities: Public sewer
• Home design: Two levels; Built in 1917
• Construction: Vinyl siding
• Exterior features: Alley access; Lot approximately 0.1 acre (33 x 132)

Interior

• Kitchen: Dishwasher; Gas Range; Refrigerator; Stainless steel appliances
• Bedrooms: 3 bedrooms (Primary bedroom plus two additional bedrooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Dishwasher; Gas Range; Refrigerator; Stainless steel appliances; Full basement with block construction
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $13 ($158/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.

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 (+10.5%/yr); 140 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $864 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; list at $125k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,026 (1.5% below list)

Questions for the listing agent

1. Built in 1917 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.13% ✓
• Cap rate: 6.42%
• Cash-on-cash: 0.45%
• DSCR: 1.02
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $114,576
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1527 Massachusetts Ave	0.10mi	3/1.0	1,172 (-5%)	1mo	$90,000	$77	86
1530 New York Ave	0.12mi	3/2.0	1,161 (-6%)	1mo	$130,000	$112	80
1430 Massachusetts Ave	0.01mi	4/1.0 (+1)	1,325 (+8%)	6mo	$121,000	$91	77
1115 Porter St	0.28mi	3/1.5	1,296 (+5%)	1mo	$66,500	$51	75
1508 Ohio Ave	0.20mi	3/2.0	1,320 (+7%)	1mo	$156,900	$119	74
2112 N High St	0.47mi	4/1.0 (+1)	1,217 (-1%)	1mo	$15,000	$12	70
1311 Illinois Ave	0.11mi	3/1.0	1,056 (-14%)	3mo	$137,000	$130	68
1141 Farrand St	0.20mi	4/1.5 (+1)	1,343 (+9%)	4mo	$125,000	$93	65
1408 E Oakland Ave	0.49mi	3/1.0	1,144 (-7%)	5mo	$92,000	$80	61
2318 N High St	0.58mi	3/1.0	1,113 (-10%)	2mo	$117,575	$106	55
925 May St	0.52mi	3/1.5	1,414 (+15%)	2mo	$205,000	$145	47
838 May St	0.56mi	4/2.0 (+1)	1,378 (+12%)	5mo	$112,000	$81	41

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: -8.6%
• Equity multiple: 0.66×
• Total profit: $-11,760
• Equity at exit: $18,623

10-year hold

• IRR: 7.6%
• Equity multiple: 1.73×
• Total profit: $25,532
• Equity at exit: $10,799

Cash invested: $34,972 (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: 140
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,414 high
• Mortgage (P&I): −$655
• Tax from tax record: −$397 /mo · $4,760/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $13

Break-even live

Break-even rent $1,397

Max offer price $124,900

Occupancy floor 94%

Sensitivity live

Price	-10% $84	-5% $49	+0% $13	+5% $-22	+10% $-58
Rent	-10% $-99	-5% $-43	+0% $13	+5% $69	+10% $125
Rate	-1.0pp $76	-0.5pp $45	base $13	+0.5pp $-19	+1.0pp $-52

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1561 Massachusetts Ave Lansing, MI	3.0	2.0	1100	$1,400	$1.27	45d	1	0.11mi
1102 Clark St Lansing, MI	3.0	1.0	1232	$1,550	$1.26	23d	1	0.37mi
824 Cleveland St Lansing, MI	2.0	1.0	839	$1,150	$1.37	23d	1	0.50mi
730 Johnson Ave Lansing, MI	2.0	1.0	840	$1,225	$1.46	45d	1	0.56mi
832 N Larch St Apt 3 Lansing, MI	2.0	1.0	890	$1,095	$1.23	45d	1	0.63mi
620 May St Lansing, MI	1.0–2.0	1.0–2.0	1126	$1,578	$1.40	15d	12	0.67mi
1715 Peppertree Ln Lansing, MI	2.0–3.0	1.5	1120	$1,595	$1.42	45d	2	0.72mi
1228 N Fairview Ave Lansing, MI	3.0	2.0	1100	$1,700	$1.55	45d	1	0.79mi
117 E North St Unit A Lansing, MI	2.0	1.0	812	$1,050	$1.29	15d	1	0.81mi
905 E Shiawassee St Unit 837-02 Lansing, MI	2.0	1.0	800	$750	$0.94	45d	1	0.89mi
905 E Shiawassee St Unit 837-01 Lansing, MI	2.0	1.0	800	$850	$1.06	45d	1	0.89mi
936 N Fairview Ave Lansing, MI	1.0–2.0	1.0	825	$1,245	$1.51	45d	2	0.90mi
1245 Weber Dr Unit 2 Lansing, MI	2.0	1.0	700	$1,250	$1.79	45d	1	0.99mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	15d	9	1.16mi
2620 Senate Dr Lansing, MI	1.0–2.0	1.0–2.0	950	$1,800	$1.89	45d	1	1.17mi
1629 E Michigan Ave Unit 306 Lansing, MI	2.0	1.0	901	$1,550	$1.72	45d	1	1.22mi
414 N Hayford Ave Lansing, MI	3.0	1.0	990	$1,425	$1.44	45d	1	1.22mi
1010 N Pine St Unit B Lansing, MI	2.0	1.0	750	$1,100	$1.47	45d	1	1.25mi
208 S Bingham St Lansing, MI	4.0	1.0	1020	$1,500	$1.47	15d	1	1.25mi
2520 Lake Lansing Rd Lansing, MI	2.0	2.0	1049	$1,668	$1.59	15d	13	1.27mi
1115 Chester Rd Unit Two Bedroom Lansing, MI	2.0	1.5	1100	$1,200	$1.09	45d	1	1.27mi
524 N Walnut St Lansing, MI	2.0	1.0	1000	$1,150	$1.15	45d	1	1.28mi
433 Seymour Ave Unit 3 Lansing, MI	3.0	1.0	1250	$1,395	$1.12	45d	1	1.28mi
410 W Lapeer St Unit 1 Lansing, MI	2.0	1.0	800	$1,050	$1.31	23d	1	1.29mi
2417 Kerry St Unit 11 Lansing, MI	2.0	1.0	900	$1,000	$1.11	45d	1	1.32mi
2937 Kenwick Cir Unit 2928 2931 2936 Lansing, MI	2.0	1.0	922	$999	$1.08	23d	1	1.37mi
712 N Sycamore St Lansing, MI	3.0	1.0	1100	$1,650	$1.50	23d	1	1.42mi
2222 E Michigan Ave Unit 411 Lansing, MI	2.0	2.0	900	$1,700	$1.89	23d	1	1.43mi
2222 E Michigan Ave Unit 206 Lansing, MI	2.0	2.0	900	$1,700	$1.89	45d	1	1.43mi
731 N Sycamore St Unit 1 Lansing, MI	2.0	1.0	950	$945	$0.99	45d	1	1.43mi
409 Lathrop St Lansing, MI	2.0	1.0	1342	$1,500	$1.12	23d	1	1.46mi

Listing history 17 events

1. 2026-06-22
   price $124,900 Active 20 DOM
2. 2026-06-21
   days on market $129,900 Active 20 DOM
3. 2026-06-18
   days on market $129,900 Active 17 DOM
4. 2026-06-17
   days on market $129,900 Active 16 DOM
5. 2026-06-16
   days on market $129,900 Active 15 DOM
6. 2026-06-15
   remarks 672-char remark
7. 2026-06-15
   pricedays on market $129,900 Active 14 DOM
8. 2026-06-14
   days on market $133,900 Active 12 DOM
9. 2026-06-13
   pricedays on market $133,900 Active 11 DOM
10. 2026-06-10
    days on market $134,900 Active 9 DOM
11. 2026-06-09
    days on market $134,900 Active 8 DOM
12. 2026-06-08
    days on market $134,900 Active 7 DOM
13. 2026-06-07
    days on market $134,900 Active 6 DOM
14. 2026-06-05
    days on market $134,900 Active 3 DOM
15. 2026-06-03
    days on market $134,900 Active 2 DOM
16. 2026-06-02
    remarks 350-char remark
17. 2026-06-02
    listed $134,900 Active 1 DOM

ⓘ 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: $4,760 · $397/mo
• Projected year-2 tax: $4,760 · $397/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 · 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: $16,965
• − Mortgage interest: −$6,996
• − Property taxes: −$4,760
• − Insurance: −$624
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$3,633
• Taxable loss: −$1,764
• Est. tax savings @ 24.0%: +$423
• After-tax cash flow: $581/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

+255.0% since first listed

17 events — show timeline

• 2026-06-01 Listed $134,900 REALCOMP
• 2026-06-01 Listed $134,900 Greater Lansing AoR
• 2024-07-08 Listing Removed — REALCOMP
• 2024-07-08 Listing Removed — Greater Lansing AoR
• 2024-07-03 Listed $139,900 REALCOMP
• 2024-07-03 Listed $139,900 Greater Lansing AoR
• 2024-06-13 Sold (Public Records) $55,500 Public Records
• 2024-05-03 Sold (MLS) $55,500 SW Michigan MLS
• 2024-05-03 Sold (MLS) $55,500 MiRealSource-MiMLS
• 2024-05-03 Sold (MLS) $55,500 REALCOMP
• 2024-04-12 Pending — REALCOMP
• 2024-04-12 Pending — SW Michigan MLS
• 2024-04-12 Listing Removed — MiRealSource-MiMLS
• 2024-04-05 Listed $55,000 SW Michigan MLS
• 2024-04-05 Listed $55,000 MiRealSource-MiMLS
• 2024-04-05 Listed $55,000 REALCOMP
• 2002-01-17 Sold (Public Records) $38,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $4,760 · +30.9% YoY. Source: county tax records.