6244 Leigh Ct

Hartland, MI 48430

$75,400B+

3 bd · 2.0 ba · 1,848 sqft · Built 2003 · SingleFamily · Pending · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,789/mo
• Mortgage (P&I): −$395
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$376
• Net cashflow: $892/mo
• Annual: $10,710/yr
• Cap rate: 20.50%
• Cash-on-cash: 50.73%
• DSCR: 3.26
• 1% rule: 2.37%
• Cash to close: $21,112

Investor read

• This is a 3-bed/2.0-bath single-family listed at $75k. Condition is rated average.
• At list price, monthly cash flow is $892 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• It's been on market 54 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $521 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Hartland Consolidated Schools (suburban): math 52% / reading 62% proficiency, ranked #41 of 540 in MI (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.6%/yr); 311 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 488 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).
• Livingston County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 20.5% vs local median 2.9% in Hartland — 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.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: paint — faded paint in some areas
• Minor: flooring — carpeted floors in living areas
• Minor: kitchen cabinets — slight wear on white cabinets