1221 Ballard St · Lansing, MI 48906

$95,000

3 bd · 1.0 ba · 880 sqft · SingleFamily public records · 223 Days on market

Built 1910 $108/sqft · at area comps Est $92k · at est.

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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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +6.2/15.0
• 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

Great investment opportunity!!! This property includes a 3-bedroom, 1-bath single-family home plus the vacant lot next door, both sold together as one parcel. Perfect for investors, rehabbers, or homeowners looking for a project with plenty of potential. Property Highlights: • Sold AS-IS — needs some TLC but solid structure with recent remodeling • Spacious lot with plenty of room for expansion, additional parking, or new construction • Quiet street with easy access to highways, shopping, and downtown Lansing • Great investment property or rental opportunity The bathroom features a vanity mirror with a hidden window to reveal a nice view of the rear of the property. There is a hidden storage area in one of the upper bedroom. Spacious basement that could be repurposed as a master bedroom, family room, indoor garden, and/or a gym with washer/dryer connections. The home has utilities on-site and clear access from the front driveway. The adjoining lot is cleared and ready for development. Serious inquiries only. Showings by appointment. Cash or conventional financing preferred.

Key facts

• Quiet street
• Recent remodeling
• Utilities on-site

Tags

• RECENT REMODELING
• SPACIOUS LOT
• QUIET STREET
• HIDDEN STORAGE AREA
• SPACIOUS BASEMENT
• UTILITIES ON-SITE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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; 32 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% 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 $657 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 + 8.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.41% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.52%
• DSCR: 1.69
• GRM: 5.9

CMA / ARV

• ARV (median comp): $92,306
• List price: $95,000
• Delta: 2.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1530 Ballard St	0.18mi	2/1.0 (-1)	864 (-2%)	2mo	$40,000	$46	82
1318 Massachusetts Ave	0.24mi	3/1.0	913 (+4%)	8mo	$86,000	$94	76
928 Porter St	0.21mi	2/1.0 (-1)	915 (+4%)	8mo	$95,000	$104	72
1101 May St	0.46mi	3/1.0	920 (+4%)	1mo	$115,388	$125	70
1624 N High St	0.32mi	2/1.0 (-1)	832 (-6%)	4mo	$78,700	$95	68
1035 May St	0.45mi	3/1.0	786 (-11%)	2mo	$55,000	$70	60
1520 Congress St	0.63mi	2/1.0 (-1)	902 (+2%)	4mo	$100,000	$111	58
1016 Lake Lansing Rd	0.53mi	3/1.0	960 (+9%)	3mo	$74,000	$77	57
1919 N East St	0.48mi	2/1.0 (-1)	972 (+10%)	1mo	$125,000	$129	54
721 Clark St	0.60mi	2/1.0 (-1)	937 (+6%)	3mo	$107,000	$114	54
2012 New York Ave	0.55mi	2/1.5 (-1)	972 (+10%)	2mo	$150,100	$154	48
331 Douglas Ave	0.68mi	2/1.0 (-1)	804 (-9%)	2mo	$105,000	$131	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.51×
• Total profit: $13,667
• Equity at exit: $14,165

10-year hold

• IRR: 25.0%
• Equity multiple: 3.73×
• Total profit: $72,643
• Equity at exit: $8,214

Cash invested: $26,600 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,343 high
• Mortgage (P&I): −$498
• Tax from tax record: −$179 /mo · $2,149/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $344

Break-even live

Break-even rent $907

Max offer price $95,000

Occupancy floor 69%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1561 Massachusetts Ave Lansing, MI	3.0	2.0	1100	$1,400	$1.27	44d	1	0.32mi
832 N Larch St Apt 3 Lansing, MI	2.0	1.0	890	$1,095	$1.23	44d	1	0.39mi
620 May St Lansing, MI	1.0–2.0	1.0–2.0	1126	$1,578	$1.40	14d	12	0.45mi
730 Johnson Ave Lansing, MI	2.0	1.0	840	$1,225	$1.46	44d	1	0.47mi
824 Cleveland St Lansing, MI	2.0	1.0	839	$1,150	$1.37	21d	1	0.49mi
117 E North St Unit A Lansing, MI	2.0	1.0	812	$1,050	$1.29	14d	1	0.66mi
905 E Shiawassee St Unit 837-01 Lansing, MI	2.0	1.0	800	$850	$1.06	44d	1	0.73mi
905 E Shiawassee St Unit 837-02 Lansing, MI	2.0	1.0	800	$750	$0.94	44d	1	0.73mi
1715 Peppertree Ln Lansing, MI	2.0–3.0	1.5	1120	$1,595	$1.42	44d	2	0.97mi
1228 N Fairview Ave Lansing, MI	3.0	2.0	1100	$1,700	$1.55	44d	1	0.98mi
113 Pere Marquette Dr Lansing, MI	1.0–2.0	1.0–2.0	1065	$2,250	$2.11	14d	9	0.98mi
1010 N Pine St Unit B Lansing, MI	2.0	1.0	750	$1,100	$1.47	44d	1	1.02mi
524 N Walnut St Lansing, MI	2.0	1.0	1000	$1,150	$1.15	44d	1	1.03mi
936 N Fairview Ave Lansing, MI	1.0–2.0	1.0	825	$1,245	$1.51	44d	2	1.05mi
410 W Lapeer St Unit 1 Lansing, MI	2.0	1.0	800	$1,050	$1.31	21d	1	1.05mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	44d	1	1.05mi
427 Seymour Ave Unit 315 Lansing, MI	2.0	1.0	550	$1,300	$2.36	21d	1	1.05mi
504 W Lapeer St Apt A Lansing, MI	2.0	1.0	600	$895	$1.49	44d	1	1.10mi
208 S Bingham St Lansing, MI	4.0	1.0	1020	$1,500	$1.47	14d	1	1.12mi
1245 Weber Dr Unit 2 Lansing, MI	2.0	1.0	700	$1,250	$1.79	44d	1	1.18mi
712 N Sycamore St Lansing, MI	3.0	1.0	1100	$1,650	$1.50	21d	1	1.18mi
731 N Sycamore St Unit 1 Lansing, MI	2.0	1.0	950	$945	$0.99	44d	1	1.19mi
1629 E Michigan Ave Unit 306 Lansing, MI	2.0	1.0	901	$1,550	$1.72	44d	1	1.20mi
414 N Hayford Ave Lansing, MI	3.0	1.0	990	$1,425	$1.44	44d	1	1.30mi
2620 Senate Dr Lansing, MI	1.0–2.0	1.0–2.0	950	$1,800	$1.89	44d	1	1.33mi
507 S Hosmer St Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	1.34mi
919 Princeton Ave Lansing, MI	3.0	1.5	1119	$1,475	$1.32	21d	1	1.35mi
805 Bement St Unit Hosmer 507 Lansing, MI	2.0	1.0	1120	$1,075	$0.96	44d	1	1.37mi
401 S Washington Sq Unit 205 Lansing, MI	2.0	1.0	968	$1,355	$1.40	44d	1	1.40mi
1115 Chester Rd Unit Two Bedroom Lansing, MI	2.0	1.5	1100	$1,200	$1.09	44d	1	1.45mi
2222 E Michigan Ave Unit 411 Lansing, MI	2.0	2.0	900	$1,700	$1.89	21d	1	1.46mi
2222 E Michigan Ave Unit 206 Lansing, MI	2.0	2.0	900	$1,700	$1.89	44d	1	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $95,000 Active 223 DOM
2. 2026-06-17
   days on market $95,000 Active 222 DOM
3. 2026-06-16
   days on market $95,000 Active 221 DOM
4. 2026-06-15
   days on market $95,000 Active 220 DOM
5. 2026-06-14
   days on market $95,000 Active 218 DOM
6. 2026-06-13
   days on market $95,000 Active 217 DOM
7. 2026-06-10
   days on market $95,000 Active 215 DOM
8. 2026-06-09
   days on market $95,000 Active 214 DOM
9. 2026-06-08
   days on market $95,000 Active 213 DOM
10. 2026-06-07
    days on market $95,000 Active 212 DOM
11. 2026-06-05
    days on market $95,000 Active 209 DOM
12. 2026-06-03
    days on market $95,000 Active 208 DOM
13. 2026-06-02
    days on market $95,000 Active 207 DOM
14. 2026-06-01
    days on market $95,000 Active 206 DOM
15. 2026-05-31
    days on market $95,000 Active 205 DOM
16. 2026-05-30
    days on market $95,000 Active 204 DOM
17. 2025-11-04
    listed $95,000 Active 1117-char remark

    Show marketing remark (1117 chars)

    Great investment opportunity!!! This property includes a 3-bedroom, 1-bath single-family home plus the vacant lot next door, both sold together as one parcel. Perfect for investors, rehabbers, or homeowners looking for a project with plenty of potential. Property Highlights: • Sold AS-IS — needs some TLC but solid structure with recent remodeling • Spacious lot with plenty of room for expansion, additional parking, or new construction • Quiet street with easy access to highways, shopping, and downtown Lansing • Great investment property or rental opportunity The bathroom features a vanity mirror with a hidden window to reveal a nice view of the rear of the property. There is a hidden storage area in one of the upper bedroom. Spacious basement that could be repurposed as a master bedroom, family room, indoor garden, and/or a gym with washer/dryer connections. The home has utilities on-site and clear access from the front driveway. The adjoining lot is cleared and ready for development. Serious inquiries only. Showings by appointment. Cash or conventional financing preferred.

ⓘ 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: $2,149 · $179/mo
• Projected year-2 tax: $2,149 · $179/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 ≥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: $16,114
• − Mortgage interest: −$5,321
• − Property taxes: −$2,149
• − Insurance: −$475
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$2,764
• Taxable income: $2,826
• Est. tax owed @ 24.0%: −$678
• After-tax cash flow: $3,449/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

1 event — show timeline

• 2025-11-04 Listed $95,000 Fizber.com

Property tax history

+3.4%/yr

Latest (2025): $2,149 · +3.0% YoY. Source: county tax records.