1440 E Cesar E Chavez Ave · Lansing, MI 48906

$44,900

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 18 Days on market

Built 1920 3,485 sqft lot ↓ 21% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Older home has potential, but needs paint, carpeting and attention. Spacious rooms and an attic for extra storage. Home has a fenced in yard and is close to shopping and dining.

Key facts

• Fenced in yard
• 3,485 sq ft lot
• Garage

Tags

• FENCED IN YARD
• ATTIC FOR EXTRA STORAGE
• CLOSE TO SHOPPING AND DINING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $804 ($10k/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 27.8% 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; 38 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 $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 + 8.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 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 1920 — expect roof / HVAC / electrical / plumbing capex.

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

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.14% ✓
• Cap rate: 27.79%
• Cash-on-cash: 76.76%
• DSCR: 4.42
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $144,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1527 Massachusetts Ave	0.50mi	3/1.0	1,172 (+2%)	1mo	$90,000	$77	73
823 Maryland Ave	0.15mi	3/2.0	1,044 (-9%)	1mo	$129,000	$124	72
1530 New York Ave	0.52mi	3/2.0	1,161 (+1%)	1mo	$130,000	$112	70
1311 Illinois Ave	0.31mi	3/1.0	1,056 (-8%)	3mo	$137,000	$130	69
1115 Porter St	0.28mi	3/1.5	1,296 (+12%)	1mo	$66,500	$51	63
1013 N Pennsylvania Ave	0.38mi	3/1.5	1,034 (-10%)	4mo	$89,000	$86	60
1632 Ohio Ave	0.53mi	3/1.0	1,044 (-9%)	1mo	$155,000	$148	59
414 N Clemens Ave	0.67mi	3/1.0	1,222 (+6%)	3mo	$153,000	$125	56
605 N Fairview Ave	0.60mi	3/1.0	1,046 (-9%)	2mo	$177,000	$169	55
1508 Ohio Ave	0.38mi	3/2.0	1,320 (+15%)	1mo	$156,900	$119	53
605 N Clemens Ave	0.55mi	3/1.0	1,004 (-13%)	1mo	$169,900	$169	52
206 Custer Ave	0.71mi	2/1.0 (-1)	1,040 (-10%)	2mo	$132,000	$127	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: 82.3%
• Equity multiple: 5.09×
• Total profit: $51,421
• Equity at exit: $6,695

10-year hold

• IRR: 86.9%
• Equity multiple: 12.51×
• Total profit: $144,751
• 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 48906

• Rents YoY: 10.5%
• Active inventory: 138
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,411 high
• Mortgage (P&I): −$235
• Tax est. 1.5%: −$56 /mo · $674/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $804

Break-even live

Break-even rent $393

Max offer price $44,900

Occupancy floor 38%

Sensitivity live

Price	-10% $835	-5% $820	+0% $804	+5% $789	+10% $773
Rent	-10% $693	-5% $748	+0% $804	+5% $860	+10% $916
Rate	-1.0pp $827	-0.5pp $816	base $804	+0.5pp $793	+1.0pp $781

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 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1102 Clark St Lansing, MI	3.0	1.0	1232	$1,550	$1.26	21d	1	0.06mi
824 Cleveland St Lansing, MI	2.0	1.0	839	$1,150	$1.37	21d	1	0.18mi
730 Johnson Ave Lansing, MI	2.0	1.0	840	$1,225	$1.46	44d	1	0.32mi
1561 Massachusetts Ave Lansing, MI	3.0	2.0	1100	$1,400	$1.27	44d	1	0.52mi
1228 N Fairview Ave Lansing, MI	3.0	2.0	1100	$1,700	$1.55	44d	1	0.55mi
936 N Fairview Ave Lansing, MI	1.0–2.0	1.0	825	$1,245	$1.51	44d	2	0.56mi
620 May St Lansing, MI	1.0–2.0	1.0–2.0	1126	$1,578	$1.40	14d	12	0.66mi
905 E Shiawassee St Unit 837-02 Lansing, MI	2.0	1.0	800	$750	$0.94	44d	1	0.67mi
905 E Shiawassee St Unit 837-01 Lansing, MI	2.0	1.0	800	$850	$1.06	44d	1	0.67mi
832 N Larch St Apt 3 Lansing, MI	2.0	1.0	890	$1,095	$1.23	44d	1	0.69mi
1245 Weber Dr Unit 2 Lansing, MI	2.0	1.0	700	$1,250	$1.79	44d	1	0.75mi
414 N Hayford Ave Lansing, MI	3.0	1.0	990	$1,425	$1.44	44d	1	0.80mi
1629 E Michigan Ave Unit 306 Lansing, MI	2.0	1.0	901	$1,550	$1.72	44d	1	0.81mi
2620 Senate Dr Lansing, MI	1.0–2.0	1.0–2.0	950	$1,800	$1.89	44d	1	0.85mi
1715 Peppertree Ln Lansing, MI	2.0–3.0	1.5	1120	$1,595	$1.42	44d	2	0.89mi
208 S Bingham St Lansing, MI	4.0	1.0	1020	$1,500	$1.47	14d	1	0.95mi
1115 Chester Rd Unit Two Bedroom Lansing, MI	2.0	1.5	1100	$1,200	$1.09	44d	1	0.99mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	14d	9	0.99mi
2222 E Michigan Ave Unit 411 Lansing, MI	2.0	2.0	900	$1,700	$1.89	21d	1	1.00mi
2222 E Michigan Ave Unit 206 Lansing, MI	2.0	2.0	900	$1,700	$1.89	44d	1	1.00mi
409 Lathrop St Lansing, MI	2.0	1.0	1342	$1,500	$1.12	21d	1	1.07mi
2937 Kenwick Cir Unit 2928 2931 2936 Lansing, MI	2.0	1.0	922	$999	$1.08	21d	1	1.08mi
329 S Clemens Ave Lansing, MI	3.0	1.0	1194	$1,400	$1.17	21d	1	1.12mi
117 E North St Unit A Lansing, MI	2.0	1.0	812	$1,050	$1.29	14d	1	1.16mi
507 S Hosmer St Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	1.24mi
805 Bement St Unit Hosmer 507 Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	1.26mi
2520 Lake Lansing Rd Lansing, MI	2.0	2.0	1049	$1,668	$1.59	14d	13	1.31mi
2417 Kerry St Unit 11 Lansing, MI	2.0	1.0	900	$1,000	$1.11	44d	1	1.34mi
433 Seymour Ave Unit 3 Lansing, MI	3.0	1.0	1250	$1,395	$1.12	44d	1	1.34mi
524 N Walnut St Lansing, MI	2.0	1.0	1000	$1,150	$1.15	44d	1	1.36mi
910 Dakin St Lansing, MI	3.0	1.0	908	$1,295	$1.43	44d	1	1.37mi
1100 Malcolm X St Unit B Lansing, MI	2.0	1.0	979	$1,050	$1.07	14d	1	1.39mi
410 W Lapeer St Unit 1 Lansing, MI	2.0	1.0	800	$1,050	$1.31	21d	1	1.39mi
1027 Climax St Lansing, MI	3.0	1.5	1298	$1,550	$1.19	14d	1	1.43mi
1010 N Pine St Unit B Lansing, MI	2.0	1.0	750	$1,100	$1.47	44d	1	1.46mi
1705 Coolidge Rd East Lansing, MI	2.0	1.0	960	$1,200	$1.25	44d	1	1.48mi
1502 S Shore Dr East Lansing, MI	3.0	1.0–2.0	689	$1,900	$2.76	14d	14	1.50mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	44d	1	1.50mi

Listing history 7 events

1. 2025-12-10
   status Pending 177-char remark

   Show marketing remark (177 chars)

   Older home has potential, but needs paint, carpeting and attention. Spacious rooms and an attic for extra storage. Home has a fenced in yard and is close to shopping and dining.

2. 2025-12-10
   status Pending 177-char remark

   Show marketing remark (177 chars)

   Older home has potential, but needs paint, carpeting and attention. Spacious rooms and an attic for extra storage. Home has a fenced in yard and is close to shopping and dining.

3. 2025-12-10
   status Pending

   Show marketing remark (177 chars)

   Older home has potential, but needs paint, carpeting and attention. Spacious rooms and an attic for extra storage. Home has a fenced in yard and is close to shopping and dining.

4. 2025-11-20
   listed $44,900 Active 177-char remark

   Show marketing remark (177 chars)

   Older home has potential, but needs paint, carpeting and attention. Spacious rooms and an attic for extra storage. Home has a fenced in yard and is close to shopping and dining.

5. 2025-11-20
   listed $44,900 Active 177-char remark

   Show marketing remark (177 chars)

   Older home has potential, but needs paint, carpeting and attention. Spacious rooms and an attic for extra storage. Home has a fenced in yard and is close to shopping and dining.

6. 2025-11-20
   listed $44,900 Active

   Show marketing remark (177 chars)

   Older home has potential, but needs paint, carpeting and attention. Spacious rooms and an attic for extra storage. Home has a fenced in yard and is close to shopping and dining.

7. 2000-08-04
   soldstatus $56,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $16,929
• − Mortgage interest: −$2,515
• − Property taxes: −$674
• − Insurance: −$224
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$1,306
• Taxable income: $9,501
• Est. tax owed @ 24.0%: −$2,280
• After-tax cash flow: $7,370/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

-21.1% since first listed

7 events — show timeline

• 2025-12-10 Pending — MiRealSource-MiMLS
• 2025-12-10 Pending — REALCOMP
• 2025-12-10 Pending — SW Michigan MLS
• 2025-11-20 Listed $44,900 SW Michigan MLS
• 2025-11-20 Listed $44,900 REALCOMP
• 2025-11-20 Listed $44,900 MiRealSource-MiMLS
• 2000-08-04 Sold (Public Records) $56,900 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,269 · +3.0% YoY. Source: county tax records.