Bancroft, Lansing, MI Homes for Sale

Bancroft, Lansing, MI Homes for Sale July 16, 2024
12
Listed
41
Avg. DOM
$138.90
Avg. $ / Sq.Ft.
$289,000
Med. List Price
12 Properties

Introduction to Bancroft, Lansing, MI

Bancroft is a delightful neighborhood in Lansing, MI, known for its welcoming community and picturesque homes. Located within a 10-minute drive to downtown Lansing, Bancroft offers residents the perfect blend of suburban tranquility and urban convenience. This article delves into the real estate market in Bancroft, covering home types, pricing, and local amenities.

Overview of the Real Estate Market

Average Home Prices and Market Trends

As of mid-2024, the average home price in Bancroft is around $220,000. The median price per square foot stands at approximately $150, reflecting a stable and appreciating market

Types of Homes Available

The Bancroft neighborhood in Lansing offers a diverse range of homes to suit different needs and preferences. Approximately 80% of the homes are single-family residences, with townhouses and condominiums making up the remaining 20%. The typical property sizes range from 1,200 to 2,500 square feet, providing ample space for families of all sizes.

Single-Family Homes

Single-family homes dominate the Bancroft real estate market. These homes often feature 3 to 4 bedrooms and 2 to 3 bathrooms, with spacious living areas and modern amenities. Many of these homes are built on lots averaging 0.25 acres, offering plenty of outdoor space for gardens and recreational activities.

Townhouses and Condominiums

Townhouses and condominiums are also available, providing more compact living spaces with the benefits of shared amenities. These properties typically have 2 to 3 bedrooms and 1.5 to 2 bathrooms, with sizes ranging from 1,000 to 1,500 square feet.

Architectural Styles

Bancroft features a variety of architectural styles, including Ranch, Colonial, and Cape Cod. Ranch-style homes are popular for their single-story layouts and large windows. Colonial homes offer a classic two-story design with symmetrical facades, while Cape Cod homes are known for their steep roofs and dormer windows.

Architectural Styles and Design

Bancroft's homes exhibit a rich variety of architectural styles that reflect both historical and modern influences. This diversity adds to the neighborhood's charm and appeal.

Ranch-Style Homes

Ranch-style homes are prevalent in Bancroft, characterized by their single-story layout, open floor plans, and large windows that let in plenty of natural light. These homes often include spacious yards and attached garages, making them ideal for families.

Colonial Homes

Colonial homes are another common sight in Bancroft. These two-story homes feature a symmetrical design with a central entrance, often flanked by columns. Inside, you'll find formal living and dining rooms, along with multiple bedrooms on the upper floor.

Cape Cod Homes

Cape Cod homes are cherished for their quaint, cozy design. They typically feature steep roofs, dormer windows, and wood siding. These homes often have a charming, cottage-like feel, with a focus on simplicity and functionality.

Property Sizes and Features

The typical lot size for homes in Bancroft is around 0.25 acres, but properties can range from small townhome plots to larger estates with multiple acres. Many homes come with modern upgrades such as updated kitchens and bathrooms, hardwood floors, and energy-efficient features like double-pane windows and smart home systems.

Upgrades and Amenities

Bancroft homes often boast a range of desirable amenities. Common upgrades include modern kitchens with stainless steel appliances, granite countertops, and custom cabinetry. Bathrooms are frequently updated with new fixtures and stylish tile work. Additional amenities might include large decks, swimming pools, and finished basements, providing extra space for recreation and entertainment.

Recent Home Sales Data

The Bancroft neighborhood in Lansing has seen significant real estate activity in the past year. On average, homes in this area have been selling for about $220,000, with a median price per square foot of $150. Recently sold properties include a variety of home types and price ranges, reflecting the diverse offerings of this community.

Recent Sales Highlights

Here are some examples of homes recently sold in Bancroft:

  • 521 Lasalle Blvd: Sold for $220,000. This 2-bedroom, 2-bathroom home spans 1,631 square feet and was on the market for 34 days.
  • 4425 Mar Moor Dr: Sold for $425,000. This larger home features 3 bedrooms and 2 bathrooms, covering 2,438 square feet, and was listed for 47 days.
  • 1902 W Rundle Ave: Sold for $150,000. This 3-bedroom, 1.5-bathroom home is 1,430 square feet and was available for 63 days.
  • 423 N Pine St: Sold for $190,000. This 3-bedroom, 2-bathroom home offers 2,166 square feet and was listed for 44 days.

Homes in Bancroft generally spend about 30 days on the market, indicating a healthy demand for properties in this neighborhood.

Property Features and Upgrades

Many recently sold homes come with desirable features and modern upgrades. Common amenities include updated kitchens with stainless steel appliances, renovated bathrooms, hardwood floors, and energy-efficient windows. Larger properties often have additional features like finished basements, expansive decks, and well-maintained yards.

Property Taxes and Cost of Living

Bancroft offers a relatively affordable cost of living compared to the national average. The average annual property tax for homes in this area is around $3,200, which is influenced by the home values and the tax rate in Shiawassee County.

Property Tax Breakdown

Here are some examples of property taxes for recently sold homes:

  • 2199 E Lansing Rd: This property, which sits on 2.4 acres, has an annual property tax of $1,853.65.
  • 3584 Miller Rd: With a lot size of 1.23 acres, this home's property tax is approximately $2,100 per year.

Cost of Living Comparison

Lansing's overall cost of living index is 87, compared to the U.S. average of 100. Here's a breakdown of some specific costs:

  • Housing: 25% lower than the national average
  • Utilities: 3% higher than the national average
  • Transportation: 6% lower than the national average
  • Grocery costs: 4% lower than the national average

These factors make Bancroft a cost-effective option for homebuyers looking for a balance of affordability and quality of life.

Local Schools and Education

Bancroft is served by the Lansing School District, which provides a variety of educational options to meet the diverse needs of its students. The district includes several highly rated schools, offering programs from pre-kindergarten through high school.

Elementary Schools

One of the primary schools serving the Bancroft area is Bertha Neal School, catering to students from PreK to 1st grade. It is located approximately 3.9 miles from Bancroft. Another option is Robert Kerr School, serving grades 2-5 and located about 5.1 miles away.

Middle and High Schools

For middle school, students can attend Durand Middle School, which serves grades 6-8 and is about 5.2 miles from Bancroft. Durand Area High School, serving grades 9-12, is known for its strong academic programs and has a graduation rate of 92%. It is located approximately 5 miles from Bancroft.

Specialty Programs

The Lansing School District offers various specialized programs, including STEM, STEAM, Spanish Immersion, and International Baccalaureate (IB). These programs are designed to provide students with unique learning opportunities that cater to their interests and strengths.

Amenities and Upgrades in Bancroft Homes

Bancroft homes often come equipped with a range of modern amenities and upgrades that enhance their appeal and functionality.

Common Upgrades

Many homes in Bancroft feature modern kitchens with stainless steel appliances, granite countertops, and custom cabinetry. Updated bathrooms often include new fixtures, stylish tile work, and energy-efficient features like low-flow toilets and LED lighting.

Popular Amenities

Residents in Bancroft enjoy homes with spacious decks, perfect for outdoor entertaining. Swimming pools are a popular feature, providing a refreshing escape during the summer months. Finished basements add valuable living space, often used as family rooms, home offices, or workout areas.

Energy-Efficient Features

Energy efficiency is a key focus in many Bancroft homes. Common features include double-pane windows, smart thermostats, and solar panels. These upgrades not only reduce energy costs but also contribute to a more sustainable lifestyle.

Architectural Styles and Property Sizes

Bancroft boasts a variety of architectural styles, including Ranch, Colonial, and Cape Cod homes. Properties typically range from 1,200 to 2,500 square feet, with lot sizes averaging around 0.25 acres. Larger properties with more extensive land are also available, providing ample space for gardens and recreational activities.

Nearby Communities and Attractions

Bancroft's proximity to Lansing offers residents easy access to a variety of nearby communities and attractions, enriching the living experience in this charming neighborhood.

Surrounding Communities

Several small towns surround Bancroft, each offering its own unique charm. For instance, Grand Ledge, located about 10 miles from Lansing, is known for its scenic sandstone ledges and historic buildings. Dewitt, just 9 miles north of Lansing, features a quaint downtown shopping district and numerous parks, including the picturesque Sleepy Hollow State Park. Another notable nearby community is Eaton Rapids, often referred to as the "Island City" because it is located at the juncture of the Grand River and Spring Brook. This town offers beautiful riverside walks and a vibrant downtown area.

Local Attractions

Residents of Bancroft can enjoy a variety of attractions in Lansing, including:

  • Hawk Island Park: Spread over 100 acres, this family-friendly park features a beach, swimming area, splash pad, playground, pathways, and even snow tubing lanes in the winter. Located at 1601 E Cavanaugh Road.
  • Jackson Field: Home to the Lansing Lugnuts minor league baseball team, this stadium also hosts Michigan State Spartans baseball games and various other events. It seats over 12,000 people and is located at 505 E Michigan Ave.
  • Lansing River Trail: A 20-mile trail along the Grand and Red Cedar Rivers, perfect for walking, running, or cycling. It passes through Potter Park Zoo and other notable attractions.
  • Old Town Lansing: A historic district with art galleries, boutiques, coffee shops, and a lively festival scene. This area is known for its eclectic and bohemian vibe.
  • Turner-Dodge House & Heritage Center: This Classical Revival mansion, built in 1858, serves as a cultural heritage center and museum, offering a glimpse into Lansing's rich history. Located at 100 E North St.

Investing in Bancroft Real Estate

Bancroft presents a promising opportunity for real estate investors, with a stable market and strong rental demand.

Rental Market Overview

The average rent for a 3-bedroom home in Bancroft is approximately $1,500 per month, making it an attractive option for families and young professionals looking for affordable housing near Lansing. The rental market in this area benefits from its proximity to educational institutions, major employers, and the amenities of Lansing.

Property Value Appreciation

Property values in Bancroft have been steadily appreciating, with an expected annual growth rate of 3-5%. This trend is supported by the area's desirable location, good schools, and community amenities. Recent sales data indicates a healthy market, with homes typically selling within 30 days of listing.

Benefits of Investing in Bancroft

Investing in Bancroft real estate offers several advantages:

  • Stable Market: The real estate market in Bancroft is stable, with consistent demand for both rental and owned properties.
  • Strong Rental Demand: The area's affordable rental prices and proximity to Lansing's job market make it a popular choice for renters.
  • Desirable Location: Bancroft's location provides easy access to Lansing's amenities, making it a convenient place to live.

Summary

Bancroft, Lansing, MI, is a vibrant and welcoming community offering a variety of housing options, from single-family homes to townhouses and condominiums. The area is characterized by its diverse architectural styles, modern upgrades, and energy-efficient features. With excellent schools, a range of local amenities, and a strong real estate market, Bancroft is an attractive choice for homebuyers and investors alike. Whether you're looking to settle down in a family-friendly neighborhood or invest in a stable market, Bancroft provides the perfect balance of suburban charm and urban convenience.