818 Loa St · Lansing, MI 48910

$99,900

3 bd · 1.5 ba · 1,578 sqft · SingleFamily public records · 1 Days on market

Built 1939 10,454 sqft lot Est $172k · 42% 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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +8.5/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors and Value-Add Buyers! Great opportunity to add to your portfolio with this 3-bedroom, 2-bath home offering 1,398 sq ft on a generous 0.26-acre lot in Lansing. This property features a fenced yard with gated driveway, detached one-car garage with newly updated electrical, and several major improvements already completed.

Key facts

• Fenced yard
• Major improvements
• Gated driveway

Tags

• FENCED YARD
• GATED DRIVEWAY
• DETACHED GARAGE
• NEWLY UPDATED ELECTRICAL
• MAJOR IMPROVEMENTS

Property features AI

Finance

• Other: Lot approximately 0.24 acres (76 x 135); Subdivision: LOGANCREST

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry; Vinyl siding
• Construction: Block foundation; Built with vinyl siding
• Exterior features: Paved road access; Asphalt roof

Interior

• Kitchen: Built-in electric oven; Disposal
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Built-in electric oven; Disposal; Unfinished basement; 5 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 9.3% 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 (+4.7%/yr); 177 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $691 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 + 4.7% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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 $24k; list at $100k implies a 316% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1939 — 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: 1.35% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.60%
• DSCR: 1.47
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $172,002
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3115 Palmer St	0.32mi	3/2.0	1,584 (+0%)	3mo	$160,000	$101	80
3430 Palmer St	0.39mi	2/1.0 (-1)	1,560 (-1%)	3mo	$170,000	$109	70
114 W Berry Ave	0.60mi	3/1.5	1,540 (-2%)	2mo	$190,000	$123	66
3437 Harold St	0.46mi	2/1.5 (-1)	1,504 (-5%)	5mo	$153,500	$102	61
2418 Forest Ave	0.70mi	3/2.0	1,556 (-1%)	3mo	$145,000	$93	60
1208 Gordon Ave	0.56mi	3/1.5	1,451 (-8%)	0mo	$179,900	$124	60
2016 Pattengill Ave	0.74mi	3/1.0	1,502 (-5%)	3mo	$215,900	$144	53
116 E Greenlawn Ave	0.70mi	3/1.5	1,670 (+6%)	7mo	$178,000	$107	52
1703 Holly Way	0.57mi	3/1.5	1,368 (-13%)	2mo	$195,000	$143	50
1414 Cooper Ave	0.72mi	3/2.0	1,713 (+9%)	2mo	$200,000	$117	48
2112 Stirling Ave	0.57mi	2/1.5 (-1)	1,430 (-9%)	6mo	$155,000	$108	48
3815 Walton Dr	0.56mi	3/1.5	1,342 (-15%)	2mo	$111,000	$83	47

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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $2,004
• Equity at exit: $14,895

10-year hold

• IRR: 13.3%
• Equity multiple: 2.16×
• Total profit: $32,433
• Equity at exit: $8,638

Cash invested: $27,972 (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 48910

• Rents YoY: 4.7%
• Active inventory: 177
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,348 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$253 /mo · $3,032/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $247

Break-even live

Break-even rent $1,036

Max offer price $99,900

Occupancy floor 77%

Sensitivity live

Price	-10% $304	-5% $275	+0% $247	+5% $219	+10% $190
Rent	-10% $141	-5% $194	+0% $247	+5% $300	+10% $354
Rate	-1.0pp $297	-0.5pp $272	base $247	+0.5pp $221	+1.0pp $195

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2528 Forest Ave Lansing, MI	4.0	1.0	1175	$1,699	$1.45	44d	1	0.63mi
1913 Stirling Ave Unit 1 Lansing, MI	2.0	2.0	1100	$1,200	$1.09	44d	1	0.66mi
1317 Lenore Ave Lansing, MI	2.0	1.5	1442	$850	$0.59	44d	1	0.71mi
2612 Fielding Dr Lansing, MI	2.0	1.0	1100	$1,095	$1.00	44d	1	1.41mi

Listing history 2 events

1. 2026-06-18
   remarks 341-char remark

   Show marketing remark (341 chars)

   Attention Investors and Value-Add Buyers! Great opportunity to add to your portfolio with this 3-bedroom, 2-bath home offering 1,398 sq ft on a generous 0.26-acre lot in Lansing. This property features a fenced yard with gated driveway, detached one-car garage with newly updated electrical, and several major improvements already completed.

2. 2026-06-18
   listed $99,900 Active 1 DOM

   Show marketing remark (341 chars)

   Attention Investors and Value-Add Buyers! Great opportunity to add to your portfolio with this 3-bedroom, 2-bath home offering 1,398 sq ft on a generous 0.26-acre lot in Lansing. This property features a fenced yard with gated driveway, detached one-car garage with newly updated electrical, and several major improvements already completed.

ⓘ 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: $3,032 · $253/mo
• Projected year-2 tax: $3,032 · $253/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 3/10 Moderate 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: $16,181
• − Mortgage interest: −$5,596
• − Property taxes: −$3,032
• − Insurance: −$500
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$2,906
• Taxable income: $1,558
• Est. tax owed @ 24.0%: −$374
• After-tax cash flow: $2,591/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): 32,800
• Household income: $54,712
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1305.0

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 58% Black 16% Hispanic / Latino 12% Two or more races 12% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 9% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 6% Chinese 1% Other Indo-European 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: ▼ -211.82%
• Current HPI: 196.8087
• Rent YoY: ▲ 4.71%
• 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

+16.3% since first listed

5 events — show timeline

• 2026-06-18 Listed $99,900 MiRealSource-MiMLS
• 2026-06-18 Listed $99,900 REALCOMP
• 2013-08-02 Sold (MLS) $24,000 Greater Lansing AoR
• 2013-06-25 Listed $26,000 Greater Lansing AoR
• 2001-09-05 Sold (Public Records) $85,900 Public Records

Property tax history

+3.8%/yr

Latest (2025): $3,032 · +3.0% YoY. Source: county tax records.