1222 E Kalamazoo St · Lansing, MI 48912

$85,000

2 bd · 1.0 ba · 833 sqft · SingleFamily public records · 5 Days on market

Built 1906 4,748 sqft lot Est $92k · 7% 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 +10.8/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right into this charming 2-bedroom, 1-bath home that offers both comfort and opportunity! Freshly painted throughout with new flooring on the main level, this home is ready for its next owner. All appliances are less than seven years old, providing added peace of mind. Whether you're looking for a primary residence or an investment property, this home checks all the boxes. A unique feature is the driveway that extends all the way to the rear alley, allowing convenient access and easy entry and exit. Located in the City of Lansing, this property is ideally situated near major employers, shopping, dining, college campuses, and the popular Potter Park Zoo. With strong rental potential and a desirable location, this is an excellent opportunity for homeowners and investors alike.

Key facts

• 4,748 sq ft lot
• Built 1906
• Listed 5 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Single-family residence; Residential property; Built in 1906
• Construction: Aluminum siding; Asphalt roof; Original construction from 1906
• Exterior features: Lot approximately 0.11 acres; Public water

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Window air conditioning units
• Interior features: 6 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 11.1% 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 (+7.0%/yr); 98 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 + 7.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 11y ago 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.
• Current owner paid $16k; list at $85k implies a 431% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1906 — 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: 1.46% ✓
• Cap rate: 11.13%
• Cash-on-cash: 17.26%
• DSCR: 1.77
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $91,630
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1128 Hickory St	0.09mi	2/1.0	860 (+3%)	4mo	$95,000	$110	88
520 S Leslie St	0.45mi	2/1.0	840 (+1%)	1mo	$113,000	$135	77
1031 Bement St	0.17mi	2/1.0	908 (+9%)	1mo	$106,500	$117	76
617 S Hosmer St	0.39mi	2/1.0	796 (-4%)	2mo	$87,000	$109	73
421 S Clemens Ave	0.58mi	2/1.0	839 (+1%)	1mo	$110,000	$131	70
1039 Morgan St	0.46mi	2/2.0	827 (-1%)	4mo	$135,000	$163	70
510 Regent St	0.50mi	3/1.0 (+1)	836 (+0%)	5mo	$77,000	$92	67
509 Clifford St	0.24mi	3/1.0 (+1)	936 (+12%)	0mo	$32,000	$34	63
1111 Regent St	0.73mi	1/1.0 (-1)	836 (+0%)	3mo	$25,000	$30	58
404 S Hayford Ave	0.75mi	2/1.0	884 (+6%)	2mo	$58,000	$66	53
506 S East St	0.48mi	2/1.0	720 (-14%)	2mo	$52,000	$72	53
646 S Clemens Ave	0.61mi	3/1.0 (+1)	912 (+10%)	1mo	$105,100	$115	50

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 · 7.02% rent growth · sell at horizon

5-year hold

• IRR: 13.3%
• Equity multiple: 1.56×
• Total profit: $13,296
• Equity at exit: $12,674

10-year hold

• IRR: 25.2%
• Equity multiple: 3.65×
• Total profit: $63,123
• 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 48912

• Rents YoY: 7.0%
• Active inventory: 98
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,240 high
• Mortgage (P&I): −$446
• Tax from tax record: −$156 /mo · $1,878/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $342

Break-even live

Break-even rent $807

Max offer price $85,000

Occupancy floor 67%

Sensitivity live

Price	-10% $390	-5% $366	+0% $342	+5% $318	+10% $294
Rent	-10% $244	-5% $293	+0% $342	+5% $391	+10% $440
Rate	-1.0pp $385	-0.5pp $364	base $342	+0.5pp $320	+1.0pp $298

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 Malcolm X St Unit B Lansing, MI	2.0	1.0	979	$1,050	$1.07	14d	1	0.34mi
805 Bement St Unit Hosmer 507 Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	0.37mi
507 S Hosmer St Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	0.37mi
910 Dakin St Lansing, MI	3.0	1.0	908	$1,295	$1.43	44d	1	0.37mi
1030 S Holmes St Lansing, MI	1.0	1.0–1.5	812	$1,595	$1.96	14d	11	0.45mi
1629 E Michigan Ave Unit 306 Lansing, MI	2.0	1.0	901	$1,550	$1.72	44d	1	0.47mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	14d	9	0.57mi
905 E Shiawassee St Unit 837-02 Lansing, MI	2.0	1.0	800	$750	$0.94	44d	1	0.57mi
905 E Shiawassee St Unit 837-01 Lansing, MI	2.0	1.0	800	$850	$1.06	44d	1	0.57mi
2010 E Michigan Ave Unit 209 Lansing, MI	1.0	1.0	730	$1,350	$1.85	14d	1	0.65mi
1223 Bensch St Lansing, MI	3.0	1.0	850	$1,200	$1.41	21d	1	0.68mi
335 E Saint Joseph St Unit 6 Lansing, MI	2.0	1.0	700	$949	$1.36	44d	1	0.74mi
2208 Marcus St Lansing, MI	3.0	1.0	616	$1,175	$1.91	21d	1	0.74mi
509 Cherry St Unit 2 Lansing, MI	1.0	1.0	550	$975	$1.77	21d	1	0.77mi
313 E Saint Joseph St Lansing, MI	2.0	1.0	475	$1,150	$2.42	14d	7	0.78mi
2222 E Michigan Ave Unit 411 Lansing, MI	2.0	2.0	900	$1,700	$1.89	21d	1	0.79mi
2222 E Michigan Ave Unit 206 Lansing, MI	2.0	2.0	900	$1,700	$1.89	44d	1	0.79mi
730 Johnson Ave Lansing, MI	2.0	1.0	840	$1,225	$1.46	44d	1	0.83mi
732 Maryland Ave Lansing, MI	1.0	1.0	771	$1,550	$2.01	21d	1	0.86mi
824 Cleveland St Lansing, MI	2.0	1.0	839	$1,150	$1.37	21d	1	0.90mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	44d	1	0.91mi
401 S Washington Sq Unit 212 Lansing, MI	1.0	1.0	827	$1,330	$1.61	44d	1	0.91mi
1420 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$750	$1.07	21d	3	0.91mi
1424 S Pennsylvania Ave Lansing, MI	1.0	1.0	700	$915	$1.31	44d	1	0.93mi
414 N Hayford Ave Lansing, MI	3.0	1.0	990	$1,425	$1.44	44d	1	0.95mi
620 May St Lansing, MI	1.0–2.0	1.0–2.0	1126	$1,578	$1.40	14d	12	0.96mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	21d	3	0.99mi
855 S Washington Ave Lansing, MI	1.0	1.0	576	$1,245	$2.16	44d	9	0.99mi
920 S Washington Ave Lansing, MI	1.0–2.0	1.0–2.0	900	$1,250	$1.39	14d	1	1.06mi
832 N Larch St Apt 3 Lansing, MI	2.0	1.0	890	$1,095	$1.23	44d	1	1.06mi
936 N Fairview Ave Lansing, MI	1.0–2.0	1.0	825	$1,245	$1.51	44d	2	1.21mi
420 S Walnut St Lansing, MI	1.0	1.0	525	$875	$1.67	44d	1	1.21mi
515 S Chestnut St Lansing, MI	1.0	1.0	646	$942	$1.46	14d	8	1.24mi
427 Seymour Ave Unit 102 Lansing, MI	1.0	1.0	540	$850	$1.57	21d	1	1.24mi
427 Seymour Ave Unit 205 Lansing, MI	1.0	1.0	570	$1,100	$1.93	44d	1	1.24mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	21d	1	1.24mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	44d	1	1.24mi
307 N Walnut St Unit 307 Lansing, MI	1.0	1.0	550	$1,100	$2.00	44d	1	1.26mi
524 N Walnut St Lansing, MI	2.0	1.0	1000	$1,150	$1.15	44d	1	1.32mi
801 N Capitol Ave Unit 1 Lansing, MI	1.0	1.0	550	$950	$1.73	44d	1	1.33mi

Listing history 6 events

1. 2026-06-18
   days on market $85,000 Active 5 DOM
2. 2026-06-17
   days on market $85,000 Active 4 DOM
3. 2026-06-16
   days on market $85,000 Active 3 DOM
4. 2026-06-15
   days on market $85,000 Active 2 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $85,000 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: $1,878 · $156/mo
• Projected year-2 tax: $1,878 · $156/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 6 d/yr ≥96°F today · 14 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: $14,885
• − Mortgage interest: −$4,761
• − Property taxes: −$1,878
• − Insurance: −$425
• − Repairs & maintenance: −$1,191
• − Management: −$1,191
• − Depreciation: −$2,473
• Taxable income: $2,967
• Est. tax owed @ 24.0%: −$712
• After-tax cash flow: $3,395/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): 17,674
• Household income: $54,429
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 1171.0

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 56% Black 22% Two or more races 12% Hispanic / Latino 10% Asian 4%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Romanian 5% Iranian 4% Lithuanian 3%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 5% French/Haitian/Cajun 1% Korean 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: ▼ -167.67%
• Current HPI: 171.1549
• Rent YoY: ▲ 7.02%
• 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

+580.5% since first listed

15 events — show timeline

• 2026-06-13 Listed $85,000 SW Michigan MLS
• 2026-06-13 Listed $85,000 MiRealSource-MiMLS
• 2020-05-11 Listing Removed — REALCOMP
• 2020-04-27 Listing Removed — Greater Lansing AoR
• 2020-03-03 Price Changed $76,900 REALCOMP
• 2020-02-12 Listed $76,900 Greater Lansing AoR
• 2020-02-12 Listed $79,900 REALCOMP
• 2017-10-17 Sold (MLS) $16,000 Greater Lansing AoR
• 2017-10-17 Sold (MLS) $16,000 REALCOMP
• 2017-09-01 Listed $19,990 Greater Lansing AoR
• 2017-09-01 Listed $19,990 REALCOMP
• 2015-11-13 Sold (MLS) $9,300 Greater Lansing AoR
• 2015-11-13 Sold (MLS) $9,300 REALCOMP
• 2015-08-09 Listed $12,490 Greater Lansing AoR
• 2015-08-09 Listed $12,490 REALCOMP

Property tax history

+7.5%/yr

Latest (2025): $1,878 · +2.9% YoY. Source: county tax records.