1408 Glenrose Ave · Lansing, MI 48915

$99,000

3 bd · 1.0 ba · 895 sqft · SingleFamily public records · 16 Days on market

Built 1920 3,049 sqft lot $111/sqft · 20% below area Est $123k · 20% 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 +18.4/30.0
• ARV discount +15.0/15.0
• 1% rule +6.1/10.0
• DSCR +5.8/10.0
• 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

This 3-bedroom, 1-bath home combines classic character with thoughtful updates including a brand new furnace and upgraded electrical panel! The open-concept living, dining, and kitchen area offers a bright and functional space for everyday living. A desirable first-floor primary bedroom with an updated full bath adds convenience, while two additional bedrooms upstairs provide quiet retreat space. Recent improvements include a newer roof, stainless steel appliances, and the ease of main-floor laundry. Step outside to a fully fenced backyard with a wooden privacy fence--perfect for pets, play, or relaxation. Whether you're looking for a primary residence or an investment opportunity, this home is ready to welcome its next chapter.

Key facts

• Newer roof
• Brand-new furnace
• Main-floor laundry

Tags

• BRAND-NEW FURNACE
• UPGRADED ELECTRICAL PANEL
• NEWER ROOF
• UPDATED FULL BATHROOM
• MAIN-FLOOR LAUNDRY
• FULLY FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 6.0% in Lansing — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 $684 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.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 7y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $99k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,515 (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. 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. 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: 1.11% ✓
• Cap rate: 7.41%
• Cash-on-cash: 3.99%
• DSCR: 1.18
• GRM: 7.5

CMA / ARV

• ARV (median comp): $123,102
• List price: $99,000
• Delta: -15.11%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1522 Robertson Ave	0.16mi	3/1.0	866 (-3%)	1mo	$45,000	$52	86
1624 W Willow St	0.23mi	2/1.0 (-1)	900 (+1%)	1mo	$87,000	$97	83
1418 Keeney Ct	0.07mi	3/1.0	990 (+11%)	1mo	$140,000	$141	78
1441 Knollwood Ave	0.39mi	3/1.0	910 (+2%)	2mo	$46,000	$51	78
1615 Roseneath Ave	0.22mi	3/1.0	960 (+7%)	3mo	$59,900	$62	75
1421 Lamont St	0.14mi	3/1.0	994 (+11%)	3mo	$145,000	$146	73
1310 W Maple St	0.29mi	3/1.0	968 (+8%)	3mo	$83,400	$86	71
1706 N Martin Luther King Jr Blvd	0.31mi	3/1.0	818 (-9%)	3mo	$129,900	$159	69
1315 Roosevelt Ave	0.33mi	2/1.0 (-1)	995 (+11%)	3mo	$27,500	$28	59
610 Bluff St	0.67mi	2/1.0 (-1)	936 (+5%)	1mo	$139,900	$149	55
925 N Pine St	0.68mi	2/1.5 (-1)	936 (+5%)	2mo	$154,000	$165	52
736 Stanley St	0.71mi	2/1.0 (-1)	983 (+10%)	3mo	$150,000	$153	43

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: -10.0%
• Equity multiple: 0.64×
• Total profit: $-10,101
• Equity at exit: $14,761

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-940
• Equity at exit: $8,560

Cash invested: $27,720 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,101 high
• Mortgage (P&I): −$519
• Tax from tax record: −$217 /mo · $2,607/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $92

Break-even live

Break-even rent $984

Max offer price $99,000

Occupancy floor 87%

Sensitivity live

Price	-10% $148	-5% $120	+0% $92	+5% $64	+10% $36
Rent	-10% $5	-5% $49	+0% $92	+5% $136	+10% $179
Rate	-1.0pp $142	-0.5pp $117	base $92	+0.5pp $66	+1.0pp $40

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1443 Roselawn Ave Lansing, MI	2.0	1.0	656	$750	$1.14	44d	1	0.10mi
919 Princeton Ave Lansing, MI	3.0	1.5	1119	$1,475	$1.32	21d	1	0.47mi
1010 N Pine St Unit B Lansing, MI	2.0	1.0	750	$1,100	$1.47	44d	1	0.66mi
731 N Sycamore St Unit 1 Lansing, MI	2.0	1.0	950	$945	$0.99	44d	1	0.72mi
712 N Sycamore St Lansing, MI	3.0	1.0	1100	$1,650	$1.50	21d	1	0.77mi
504 W Lapeer St Apt A Lansing, MI	2.0	1.0	600	$895	$1.49	44d	1	0.92mi
410 W Lapeer St Unit 1 Lansing, MI	2.0	1.0	800	$1,050	$1.31	21d	1	0.97mi
117 E North St Unit A Lansing, MI	2.0	1.0	812	$1,050	$1.29	14d	1	0.98mi
524 N Walnut St Lansing, MI	2.0	1.0	1000	$1,150	$1.15	44d	1	1.03mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	21d	1	1.12mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	44d	1	1.12mi
400 N Catherine St Lansing, MI	3.0	1.0	760	$1,395	$1.84	14d	1	1.29mi
1109 W Washtenaw St Unit 5 Lansing, MI	2.0	1.0	755	$795	$1.05	44d	1	1.31mi
122 Hathaway St Lansing, MI	2.0	1.0	768	$1,250	$1.63	44d	1	1.39mi
832 N Larch St Apt 3 Lansing, MI	2.0	1.0	890	$1,095	$1.23	44d	1	1.43mi

Listing history 36 events

1. 2026-06-18
   days on market $99,000 Active 16 DOM
2. 2026-06-17
   price $99,000 Active 15 DOM
3. 2026-06-17
   days on market $104,500 Active 15 DOM
4. 2026-06-16
   days on market $104,500 Active 14 DOM
5. 2026-06-15
   days on market $104,500 Active 13 DOM
6. 2026-06-14
   days on market $104,500 Active 11 DOM
7. 2026-06-13
   days on market $104,500 Active 10 DOM
8. 2026-06-10
   days on market $104,500 Active 8 DOM
9. 2026-06-09
   days on market $104,500 Active 7 DOM
10. 2026-06-08
    days on market $104,500 Active 6 DOM
11. 2026-06-07
    days on market $104,500 Active 5 DOM
12. 2026-06-05
    days on market $104,500 Active 2 DOM
13. 2026-06-03
    remarks 699-char remark
14. 2026-06-03
    statusdays on marketlisting id $104,500 Active 1 DOM
15. 2026-05-31
    days on market $104,500 Active Under Contract 117 DOM
16. 2026-05-30
    days on market $104,500 Active Under Contract 116 DOM
17. 2026-03-16
    status Active 738-char remark

    Show marketing remark (743 chars)

    This 3-bedroom, 1-bath home combines classic character with thoughtful updates including a brand new furnace and upgraded electrical panel! The open-concept living, dining, and kitchen area offers a bright and functional space for everyday living. A desirable first-floor primary bedroom with an updated full bath adds convenience, while two additional bedrooms upstairs provide quiet retreat space. Recent improvements include a newer roof, stainless steel appliances, and the ease of main-floor laundry. Step outside to a fully fenced backyard with a wooden privacy fence—perfect for pets, play, or relaxation. Whether you're looking for a primary residence or an investment opportunity, this home is ready to welcome its next chapter.

18. 2026-03-16
    status Active 743-char remark

    Show marketing remark (743 chars)

    This 3-bedroom, 1-bath home combines classic character with thoughtful updates including a brand new furnace and upgraded electrical panel! The open-concept living, dining, and kitchen area offers a bright and functional space for everyday living. A desirable first-floor primary bedroom with an updated full bath adds convenience, while two additional bedrooms upstairs provide quiet retreat space. Recent improvements include a newer roof, stainless steel appliances, and the ease of main-floor laundry. Step outside to a fully fenced backyard with a wooden privacy fence—perfect for pets, play, or relaxation. Whether you're looking for a primary residence or an investment opportunity, this home is ready to welcome its next chapter.

19. 2026-03-13
    historical Active Under Contract 738-char remark

    Show marketing remark (743 chars)

    This 3-bedroom, 1-bath home combines classic character with thoughtful updates including a brand new furnace and upgraded electrical panel! The open-concept living, dining, and kitchen area offers a bright and functional space for everyday living. A desirable first-floor primary bedroom with an updated full bath adds convenience, while two additional bedrooms upstairs provide quiet retreat space. Recent improvements include a newer roof, stainless steel appliances, and the ease of main-floor laundry. Step outside to a fully fenced backyard with a wooden privacy fence—perfect for pets, play, or relaxation. Whether you're looking for a primary residence or an investment opportunity, this home is ready to welcome its next chapter.

20. 2026-03-13
    historical Active Under Contract 743-char remark

    Show marketing remark (743 chars)

    This 3-bedroom, 1-bath home combines classic character with thoughtful updates including a brand new furnace and upgraded electrical panel! The open-concept living, dining, and kitchen area offers a bright and functional space for everyday living. A desirable first-floor primary bedroom with an updated full bath adds convenience, while two additional bedrooms upstairs provide quiet retreat space. Recent improvements include a newer roof, stainless steel appliances, and the ease of main-floor laundry. Step outside to a fully fenced backyard with a wooden privacy fence—perfect for pets, play, or relaxation. Whether you're looking for a primary residence or an investment opportunity, this home is ready to welcome its next chapter.

21. 2026-03-03
    price $104,500 738-char remark

    Show marketing remark (743 chars)

    This 3-bedroom, 1-bath home combines classic character with thoughtful updates including a brand new furnace and upgraded electrical panel! The open-concept living, dining, and kitchen area offers a bright and functional space for everyday living. A desirable first-floor primary bedroom with an updated full bath adds convenience, while two additional bedrooms upstairs provide quiet retreat space. Recent improvements include a newer roof, stainless steel appliances, and the ease of main-floor laundry. Step outside to a fully fenced backyard with a wooden privacy fence—perfect for pets, play, or relaxation. Whether you're looking for a primary residence or an investment opportunity, this home is ready to welcome its next chapter.

22. 2026-03-03
    price $104,500 743-char remark

    Show marketing remark (743 chars)

    This 3-bedroom, 1-bath home combines classic character with thoughtful updates including a brand new furnace and upgraded electrical panel! The open-concept living, dining, and kitchen area offers a bright and functional space for everyday living. A desirable first-floor primary bedroom with an updated full bath adds convenience, while two additional bedrooms upstairs provide quiet retreat space. Recent improvements include a newer roof, stainless steel appliances, and the ease of main-floor laundry. Step outside to a fully fenced backyard with a wooden privacy fence—perfect for pets, play, or relaxation. Whether you're looking for a primary residence or an investment opportunity, this home is ready to welcome its next chapter.

23. 2026-02-03
    listed $109,000 Active 738-char remark

    Show marketing remark (743 chars)

    This 3-bedroom, 1-bath home combines classic character with thoughtful updates including a brand new furnace and upgraded electrical panel! The open-concept living, dining, and kitchen area offers a bright and functional space for everyday living. A desirable first-floor primary bedroom with an updated full bath adds convenience, while two additional bedrooms upstairs provide quiet retreat space. Recent improvements include a newer roof, stainless steel appliances, and the ease of main-floor laundry. Step outside to a fully fenced backyard with a wooden privacy fence—perfect for pets, play, or relaxation. Whether you're looking for a primary residence or an investment opportunity, this home is ready to welcome its next chapter.

24. 2026-02-03
    listed $109,000 Active 743-char remark

    Show marketing remark (743 chars)

    This 3-bedroom, 1-bath home combines classic character with thoughtful updates including a brand new furnace and upgraded electrical panel! The open-concept living, dining, and kitchen area offers a bright and functional space for everyday living. A desirable first-floor primary bedroom with an updated full bath adds convenience, while two additional bedrooms upstairs provide quiet retreat space. Recent improvements include a newer roof, stainless steel appliances, and the ease of main-floor laundry. Step outside to a fully fenced backyard with a wooden privacy fence—perfect for pets, play, or relaxation. Whether you're looking for a primary residence or an investment opportunity, this home is ready to welcome its next chapter.

25. 2020-09-10
    status Pending
26. 2020-09-09
    soldstatus $66,000 Sold
27. 2020-09-09
    soldstatus $66,000
28. 2020-08-06
    historical Accepting Backup Offers
29. 2020-08-04
    price $64,000
30. 2020-07-25
    listed $70,000 Active
31. 2020-07-25
    listed $64,000
32. 2019-10-29
    soldstatus $37,000
33. 2019-10-29
    soldstatus $37,000
34. 2019-08-19
    listed $39,900
35. 2019-08-19
    listed $39,900
36. 2001-11-13
    soldstatus $44,000

ⓘ 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: $2,607 · $217/mo
• Projected year-2 tax: $2,607 · $217/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: $13,212
• − Mortgage interest: −$5,546
• − Property taxes: −$2,607
• − Insurance: −$495
• − Repairs & maintenance: −$1,057
• − Management: −$1,057
• − Depreciation: −$2,880
• Taxable loss: −$430
• Est. tax savings @ 24.0%: +$103
• After-tax cash flow: $1,208/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

+137.5% since first listed

20 events — show timeline

• 2026-03-16 Relisted — REALCOMP
• 2026-03-16 Relisted — Greater Lansing AoR
• 2026-03-13 Contingent — REALCOMP
• 2026-03-13 Contingent — Greater Lansing AoR
• 2026-03-03 Price Changed $104,500 REALCOMP
• 2026-03-03 Price Changed $104,500 Greater Lansing AoR
• 2026-02-03 Listed $109,000 REALCOMP
• 2026-02-03 Listed $109,000 Greater Lansing AoR
• 2020-09-10 Pending — REALCOMP
• 2020-09-09 Sold (MLS) $66,000 Greater Lansing AoR
• 2020-09-09 Sold (MLS) $66,000 REALCOMP
• 2020-08-06 Contingent — REALCOMP
• 2020-08-04 Price Changed $64,000 REALCOMP
• 2020-07-25 Listed $64,000 Greater Lansing AoR
• 2020-07-25 Listed $70,000 REALCOMP
• 2019-10-29 Sold (MLS) $37,000 Greater Lansing AoR
• 2019-10-29 Sold (MLS) $37,000 REALCOMP
• 2019-08-19 Listed $39,900 Greater Lansing AoR
• 2019-08-19 Listed $39,900 REALCOMP
• 2001-11-13 Sold (Public Records) $44,000 Public Records

Property tax history

+7.8%/yr

Latest (2025): $2,607 · +3.0% YoY. Source: county tax records.