1601 W Malcolm X St · Lansing, MI 48915

$149,900

4 bd · 1.5 ba · 1,936 sqft · SingleFamily public records · 35 Days on market

Built 1921 5,227 sqft lot $77/sqft · 14% below area Est $174k · 14% under

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Why this score? — see what drove the C- 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 +17.0/30.0
• ARV discount +13.6/15.0
• 1% rule +5.4/10.0
• DSCR +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Over 1,900 square feet! Nice two-story with four bedrooms and one and a half bathrooms. Hard wood floors and a formal dining room. Enjoy the sunroom, updated furnace, and the outdoor deck and porch! One-car attached garage! In a convenient location with highway 496 just minutes away. Appliances remain dishwasher, stove, fridge, ceiling fans.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1921

Property features AI

Exterior

• Parking: Attached garage
• Utilities: Public sewer
• Home design: Built in 1921; Two levels
• Construction: Wood siding construction
• Exterior features: Wood siding; Lot about 0.12 acre (approx. 46.14 x 116)

Interior

• Kitchen: Dishwasher, Range, Refrigerator
• Bedrooms: 4 bedrooms (including Primary Bedroom)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Dishwasher, Range, Refrigerator; Full basement; Sunroom
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% 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, 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: 68 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 34% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 35 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.04% ✓
• Cap rate: 7.11%
• Cash-on-cash: 2.90%
• DSCR: 1.13
• GRM: 8.0

CMA / ARV

• ARV (median comp): $173,618
• List price: $149,900
• Delta: -13.66%
• 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
414 West St	0.29mi	4/1.5	1,864 (-4%)	11mo	$295,000	$158	72
1719 W Hillsdale St	0.16mi	3/1.5 (-1)	1,764 (-9%)	7mo	$220,000	$125	67
519 West St	0.16mi	3/1.5 (-1)	1,692 (-13%)	1mo	$65,000	$38	65
511 Mcpherson Ave	0.28mi	3/1.5 (-1)	2,140 (+10%)	1mo	$215,000	$100	63
1305 W Hillsdale St	0.19mi	3/1.5 (-1)	1,770 (-9%)	12mo	$140,000	$79	62
1608 W St. Joseph St	0.10mi	4/2.5	1,692 (-13%)	11mo	$110,000	$65	61
425 Everett Dr	0.27mi	3/1.5 (-1)	1,741 (-10%)	10mo	$310,000	$178	57
224 West St	0.46mi	4/2.0	2,110 (+9%)	7mo	$260,000	$123	55
418 West St	0.28mi	3/2.5 (-1)	2,197 (+14%)	2mo	$285,000	$130	54
1635 Pattengill Ave	0.70mi	3/2.0 (-1)	1,880 (-3%)	10mo	$195,000	$104	47
1319 Pico Ave	0.70mi	3/1.0 (-1)	1,742 (-10%)	2mo	$141,000	$81	42
225 Mcpherson Ave	0.47mi	3/3.0 (-1)	2,179 (+13%)	11mo	$242,000	$111	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.58×
• Total profit: $-17,744
• Equity at exit: $22,351

10-year hold

• IRR: -2.4%
• Equity multiple: 0.84×
• Total profit: $-6,788
• Equity at exit: $12,961

Cash invested: $41,972 (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 48915

• Active inventory: 68
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,565 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$286 /mo · $3,434/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $101

Break-even live

Break-even rent $1,436

Max offer price $149,900

Occupancy floor 89%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 S Washington Sq Unit 201 Lansing, MI	3.0	1.0	1254	$1,560	$1.24	43d	1	1.17mi
433 Seymour Ave Unit 3 Lansing, MI	3.0	1.0	1250	$1,395	$1.12	43d	1	1.31mi

Listing history 21 events

1. 2026-06-18
   days on market $149,900 Active 35 DOM
2. 2026-06-17
   days on market $149,900 Active 34 DOM
3. 2026-06-16
   days on market $149,900 Active 33 DOM
4. 2026-06-15
   days on market $149,900 Active 32 DOM
5. 2026-06-14
   days on market $149,900 Active 30 DOM
6. 2026-06-13
   days on market $149,900 Active 29 DOM
7. 2026-06-10
   days on market $149,900 Active 27 DOM
8. 2026-06-09
   days on market $149,900 Active 26 DOM
9. 2026-06-08
   days on market $149,900 Active 25 DOM
10. 2026-06-07
    pricedays on market $149,900 Active 24 DOM
11. 2026-06-05
    days on market $169,900 Active 21 DOM

    Show marketing remark (343 chars)

    Over 1,900 square feet! Nice two-story with four bedrooms and one and a half bathrooms. Hard wood floors and a formal dining room. Enjoy the sunroom, updated furnace, and the outdoor deck and porch! One-car attached garage! In a convenient location with highway 496 just minutes away. Appliances remain dishwasher, stove, fridge, ceiling fans.

12. 2026-06-03
    days on market $169,900 Active 20 DOM
13. 2026-06-02
    days on market $169,900 Active 19 DOM
14. 2026-06-01
    days on market $169,900 Active 18 DOM
15. 2026-05-31
    days on market $169,900 Active 17 DOM
16. 2026-05-30
    days on market $169,900 Active 16 DOM
17. 2026-05-14
    listed $169,900 Active 343-char remark

    Show marketing remark (343 chars)

    Over 1,900 square feet! Nice two-story with four bedrooms and one and a half bathrooms. Hard wood floors and a formal dining room. Enjoy the sunroom, updated furnace, and the outdoor deck and porch! One-car attached garage! In a convenient location with highway 496 just minutes away. Appliances remain dishwasher, stove, fridge, ceiling fans.

18. 2026-05-14
    listed $169,900 Active 343-char remark

    Show marketing remark (343 chars)

    Over 1,900 square feet! Nice two-story with four bedrooms and one and a half bathrooms. Hard wood floors and a formal dining room. Enjoy the sunroom, updated furnace, and the outdoor deck and porch! One-car attached garage! In a convenient location with highway 496 just minutes away. Appliances remain dishwasher, stove, fridge, ceiling fans.

19. 2026-04-30
    historical $169,900 343-char remark
20. 2019-10-09
    historical
21. 2019-08-14
    listed $98,900

ⓘ 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: $3,434 · $286/mo
• Projected year-2 tax: $3,434 · $286/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: $18,777
• − Mortgage interest: −$8,397
• − Property taxes: −$3,434
• − Insurance: −$750
• − Repairs & maintenance: −$1,502
• − Management: −$1,502
• − Depreciation: −$4,361
• Taxable loss: −$1,168
• Est. tax savings @ 24.0%: +$280
• After-tax cash flow: $1,498/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): 9,428
• Household income: $54,465
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 307.0

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 0.64)
• Race & ethnicity: White 54% Black 24% Two or more races 13% Hispanic / Latino 13%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 7% Lithuanian 2% Iranian 2%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 90% English-only · Spanish 7% Other Asian/Pacific 1% German/W. Germanic 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: ▼ -129.90%
• Current HPI: 177.0906
• Rent YoY: —
• 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

+51.6% since first listed

7 events — show timeline

• 2026-06-05 Price Changed $149,900 REALCOMP
• 2026-06-05 Price Changed $149,900 Greater Lansing AoR
• 2026-05-14 Listed $169,900 REALCOMP
• 2026-05-14 Listed $169,900 Greater Lansing AoR
• 2026-04-30 Coming Soon $169,900 Greater Lansing AoR
• 2019-10-09 Listing Removed — REALCOMP
• 2019-08-14 Listed $98,900 REALCOMP

Property tax history

+3.5%/yr

Latest (2025): $3,434 · -17.7% YoY. Source: county tax records.