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REO Town takes its name from the REO Motor Car Company, Ransom E. Olds' second venture, which operated here south of downtown along Washington Avenue. The neighborhood's houses are early-1900s worker housing, small and now well over a century old. Values sit at the lower end of Lansing, so deferred maintenance carries disproportionate weight against the sale price — which is why as-is cash sales are common in REO Town.

The REO Town market

The typical home in REO Town is worth about $104,495 as of July 2026, below the $170,959 typical across Lansing. Lower values here mean investors and cash buyers are active, and it means fewer of the mortgage-financed buyers who need a house to pass an appraisal. Values are up 0.0% over the past year.

Compare it against the rest of Lansing or Ingham County. Figures from Zillow Research public data.

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REO Town questions

What are houses in REO Town worth?

The typical REO Town home sits around $104,495 as of July 2026, compared with roughly $170,959 across Lansing as a whole. An area figure this far under the citywide number is heavily influenced by houses in poor condition, so a well-maintained REO Town home can be worth considerably more than it suggests. Do not let the neighborhood average price your house for you.

Is REO Town one of the more expensive parts of Lansing?

Of the 8 Lansing neighborhoods we cover, REO Town ranks 7 by typical value, with Old Town just above it at about $133,567 and Potter-Walsh just below at $89,304. Those two are the closest points of reference for a REO Town house, and they are a better guide than a citywide average that spans the whole range.

Have REO Town home values risen?

The typical REO Town home has gone from about $85,661 five years ago to $104,495 now, a 22.0% gain. Whether that shows up in your own equity depends on what you paid and what is left on the mortgage.

What does it cost to sell a house in REO Town?

On a $104,495 sale, a 6% agent commission is about $6,270 and Michigan transfer tax about $899, which the seller pays. A cash sale removes the commission and most cash buyers cover the transfer tax, so that combined $7,168 is the figure to weigh against a lower offer price.

Why do sales fall through in REO Town?

Most often on the appraisal. A REO Town house has to be justified by recent sales close by, and a quiet couple of months is enough to bring the valuation in under the agreed price — at which point the buyer's loan shrinks and someone has to cover the gap. Inspection findings on older housing stock are the other common cause, since they reopen a price you thought was settled. Cash offers carry neither contingency.

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