250 S Leaton Rd · Mount Pleasant, MI 48858

$170,000

3 bd · 2.0 ba · 1,500 sqft · SingleFamily · 152 Days on market

Built 1989 1.00 ac lot ↓ 8% since listing

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Why this score? — see what drove the D 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 +13.1/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• DSCR +3.9/10.0
• Schools +3.3/10.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom, 2-bath home blends comfort and functionality with a setting that feels both private and welcoming. The spacious kitchen is a true highlight, featuring warm butcher block countertops, ample workspace, and room to gather, making it ideal for everyday living and entertaining alike. Step outside to the deck overlooking a generous backyard that backs up to wooded views, offering a peaceful backdrop and added privacy. Whether hosting summer get-togethers or enjoying a quiet evening outdoors, the space is versatile and serene. An oversized detached garage provides excellent storage and flexibility for vehicles, hobbies, or a workshop. With thoughtful features inside and a beautiful natural setting outside, this home offers a wonderful balance of indoor comfort and outdoor enjoyment.

Key facts

• Wooded views
• Generous backyard
• 1 acre lot

Tags

• BUTCHER BLOCK COUNTERTOPS
• GENEROUS BACKYARD
• WOODED VIEWS
• OVERSIZED DETACHED GARAGE

Property features AI

Finance

• Other: Residential property

Exterior

• Parking: Detached 2-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One level; Ground-level entry; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Paved road access; 1-acre lot (approximate dimensions: 215 x 221 x 215 x 223)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Propane heating; No central cooling
• Interior features: Crawl space basement; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-5 ($-56/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (19.2% below list).
• Recommended offer: $137k (19.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.3% in Mount Pleasant — 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 82/100 on livability (#55 in MI, #1,063 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime C-, employment F.
• Mt. Pleasant City School District (town): math 33% / reading 48% proficiency, ranked #229 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pullen Elementary School (327 students, 68% FRL); Fancher School (math 44% / reading 56%, grade D+, #371 of 1,397 statewide, top 27%, 406 students, 47% FRL); Mt Pleasant Senior High School (math 42% / reading 57%, grade D, #154 of 713 statewide, top 25%, 1,058 students, 42% FRL) — zoned schools average 53% FRL vs 36% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+16.9%/yr); 251 active listings in the ZIP; 72 units permitted in Isabella County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Isabella County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $30k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $137,383 (19.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.81% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.12%
• DSCR: 0.99
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.57×
• Total profit: $-20,617
• Equity at exit: $25,348

10-year hold

• IRR: 3.5%
• Equity multiple: 1.31×
• Total profit: $14,580
• Equity at exit: $14,698

Cash invested: $47,600 (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 48858

• Home prices YoY: -31.9%
• Rents YoY: 16.9%
• Active inventory: 251
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,374 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$128 /mo · $1,532/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $-5

Break-even live

Break-even rent $1,380

Max offer price $169,172

Occupancy floor 95%

Sensitivity live

Price	-10% $92	-5% $43	+0% $-5	+5% $-53	+10% $-101
Rent	-10% $-113	-5% $-59	+0% $-5	+5% $50	+10% $104
Rate	-1.0pp $81	-0.5pp $39	base $-5	+0.5pp $-49	+1.0pp $-94

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-22
   days on market $170,000 Active 152 DOM
2. 2026-06-21
   days on market $170,000 Active 151 DOM
3. 2026-06-19
   days on market $170,000 Active 149 DOM
4. 2026-06-18
   days on market $170,000 Active 148 DOM
5. 2026-06-17
   days on market $170,000 Active 147 DOM
6. 2026-06-16
   days on market $170,000 Active 146 DOM
7. 2026-06-15
   days on market $170,000 Active 145 DOM
8. 2026-06-14
   days on market $170,000 Active 143 DOM
9. 2026-06-12
   days on market $170,000 Active 142 DOM
10. 2026-06-09
    days on market $170,000 Active 139 DOM
11. 2026-06-08
    days on market $170,000 Active 138 DOM
12. 2026-06-07
    days on market $170,000 Active 137 DOM
13. 2026-06-05
    pricestatusdays on market $170,000 Active 134 DOM
14. 2026-06-03
    days on market $184,999 Active Under Contract 133 DOM
15. 2026-06-02
    days on market $184,999 Active Under Contract 132 DOM
16. 2026-06-01
    days on market $184,999 Active Under Contract 131 DOM
17. 2026-05-31
    days on market $184,999 Active Under Contract 130 DOM
18. 2026-05-30
    days on market $184,999 Active Under Contract 129 DOM
19. 2026-05-23
    historical Accepting Backup Offers 802-char remark

    Show marketing remark (802 chars)

    This 3-bedroom, 2-bath home blends comfort and functionality with a setting that feels both private and welcoming. The spacious kitchen is a true highlight, featuring warm butcher block countertops, ample workspace, and room to gather, making it ideal for everyday living and entertaining alike. Step outside to the deck overlooking a generous backyard that backs up to wooded views, offering a peaceful backdrop and added privacy. Whether hosting summer get-togethers or enjoying a quiet evening outdoors, the space is versatile and serene. An oversized detached garage provides excellent storage and flexibility for vehicles, hobbies, or a workshop. With thoughtful features inside and a beautiful natural setting outside, this home offers a wonderful balance of indoor comfort and outdoor enjoyment.

20. 2026-05-23
    historical Active Under Contract

    Show marketing remark (802 chars)

    This 3-bedroom, 2-bath home blends comfort and functionality with a setting that feels both private and welcoming. The spacious kitchen is a true highlight, featuring warm butcher block countertops, ample workspace, and room to gather, making it ideal for everyday living and entertaining alike. Step outside to the deck overlooking a generous backyard that backs up to wooded views, offering a peaceful backdrop and added privacy. Whether hosting summer get-togethers or enjoying a quiet evening outdoors, the space is versatile and serene. An oversized detached garage provides excellent storage and flexibility for vehicles, hobbies, or a workshop. With thoughtful features inside and a beautiful natural setting outside, this home offers a wonderful balance of indoor comfort and outdoor enjoyment.

21. 2026-04-27
    status Active 802-char remark

    Show marketing remark (802 chars)

    This 3-bedroom, 2-bath home blends comfort and functionality with a setting that feels both private and welcoming. The spacious kitchen is a true highlight, featuring warm butcher block countertops, ample workspace, and room to gather, making it ideal for everyday living and entertaining alike. Step outside to the deck overlooking a generous backyard that backs up to wooded views, offering a peaceful backdrop and added privacy. Whether hosting summer get-togethers or enjoying a quiet evening outdoors, the space is versatile and serene. An oversized detached garage provides excellent storage and flexibility for vehicles, hobbies, or a workshop. With thoughtful features inside and a beautiful natural setting outside, this home offers a wonderful balance of indoor comfort and outdoor enjoyment.

22. 2026-04-27
    status Active

    Show marketing remark (802 chars)

    This 3-bedroom, 2-bath home blends comfort and functionality with a setting that feels both private and welcoming. The spacious kitchen is a true highlight, featuring warm butcher block countertops, ample workspace, and room to gather, making it ideal for everyday living and entertaining alike. Step outside to the deck overlooking a generous backyard that backs up to wooded views, offering a peaceful backdrop and added privacy. Whether hosting summer get-togethers or enjoying a quiet evening outdoors, the space is versatile and serene. An oversized detached garage provides excellent storage and flexibility for vehicles, hobbies, or a workshop. With thoughtful features inside and a beautiful natural setting outside, this home offers a wonderful balance of indoor comfort and outdoor enjoyment.

23. 2026-04-20
    historical Accepting Backup Offers 802-char remark

    Show marketing remark (802 chars)

    This 3-bedroom, 2-bath home blends comfort and functionality with a setting that feels both private and welcoming. The spacious kitchen is a true highlight, featuring warm butcher block countertops, ample workspace, and room to gather, making it ideal for everyday living and entertaining alike. Step outside to the deck overlooking a generous backyard that backs up to wooded views, offering a peaceful backdrop and added privacy. Whether hosting summer get-togethers or enjoying a quiet evening outdoors, the space is versatile and serene. An oversized detached garage provides excellent storage and flexibility for vehicles, hobbies, or a workshop. With thoughtful features inside and a beautiful natural setting outside, this home offers a wonderful balance of indoor comfort and outdoor enjoyment.

24. 2026-04-20
    historical Active Under Contract

    Show marketing remark (802 chars)

    This 3-bedroom, 2-bath home blends comfort and functionality with a setting that feels both private and welcoming. The spacious kitchen is a true highlight, featuring warm butcher block countertops, ample workspace, and room to gather, making it ideal for everyday living and entertaining alike. Step outside to the deck overlooking a generous backyard that backs up to wooded views, offering a peaceful backdrop and added privacy. Whether hosting summer get-togethers or enjoying a quiet evening outdoors, the space is versatile and serene. An oversized detached garage provides excellent storage and flexibility for vehicles, hobbies, or a workshop. With thoughtful features inside and a beautiful natural setting outside, this home offers a wonderful balance of indoor comfort and outdoor enjoyment.

25. 2026-04-10
    price $184,999 802-char remark

    Show marketing remark (802 chars)

    This 3-bedroom, 2-bath home blends comfort and functionality with a setting that feels both private and welcoming. The spacious kitchen is a true highlight, featuring warm butcher block countertops, ample workspace, and room to gather, making it ideal for everyday living and entertaining alike. Step outside to the deck overlooking a generous backyard that backs up to wooded views, offering a peaceful backdrop and added privacy. Whether hosting summer get-togethers or enjoying a quiet evening outdoors, the space is versatile and serene. An oversized detached garage provides excellent storage and flexibility for vehicles, hobbies, or a workshop. With thoughtful features inside and a beautiful natural setting outside, this home offers a wonderful balance of indoor comfort and outdoor enjoyment.

26. 2026-04-09
    price $184,999
27. 2026-01-21
    listed $199,999 Active

    Show marketing remark (802 chars)

    This 3-bedroom, 2-bath home blends comfort and functionality with a setting that feels both private and welcoming. The spacious kitchen is a true highlight, featuring warm butcher block countertops, ample workspace, and room to gather, making it ideal for everyday living and entertaining alike. Step outside to the deck overlooking a generous backyard that backs up to wooded views, offering a peaceful backdrop and added privacy. Whether hosting summer get-togethers or enjoying a quiet evening outdoors, the space is versatile and serene. An oversized detached garage provides excellent storage and flexibility for vehicles, hobbies, or a workshop. With thoughtful features inside and a beautiful natural setting outside, this home offers a wonderful balance of indoor comfort and outdoor enjoyment.

28. 2026-01-21
    listed $199,999 Active 802-char remark

    Show marketing remark (802 chars)

    This 3-bedroom, 2-bath home blends comfort and functionality with a setting that feels both private and welcoming. The spacious kitchen is a true highlight, featuring warm butcher block countertops, ample workspace, and room to gather, making it ideal for everyday living and entertaining alike. Step outside to the deck overlooking a generous backyard that backs up to wooded views, offering a peaceful backdrop and added privacy. Whether hosting summer get-togethers or enjoying a quiet evening outdoors, the space is versatile and serene. An oversized detached garage provides excellent storage and flexibility for vehicles, hobbies, or a workshop. With thoughtful features inside and a beautiful natural setting outside, this home offers a wonderful balance of indoor comfort and outdoor enjoyment.

ⓘ 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: $1,532 · $128/mo
• Projected year-2 tax: $2,075 · $173/mo
• Expected delta: +$543/yr (+$45/mo · 35.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,486
• − Mortgage interest: −$9,523
• − Property taxes: −$1,532
• − Insurance: −$850
• − Repairs & maintenance: −$1,319
• − Management: −$1,319
• − Depreciation: −$4,945
• Taxable loss: −$3,002
• Est. tax savings @ 24.0%: +$720
• After-tax cash flow: $664/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: Mt. Pleasant City School District
• NCES district ID: 2624750
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $32,344
• Composite: 33.16/100
• National rank: #5548
• State rank: #229 of 540 in MI

Livability — Mount Pleasant

• Score: 82/100
• State rank: #55
• US rank: #1063

Category grades

Amenities A+ Commute A Cost of living A+ Crime C- Employment F Housing A Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Isabella County · 42,226 people
• City population: 42,226
• Metro: Mount Pleasant, MI
• Population (ZIP): 42,226
• Household income: $51,267
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 2381.0

Population outlook (Isabella County) Hauer SSP2

• Today (2025): 75,111 people
• By 2030: 77,600 · +3.3%
• By 2040: 79,890 · +6.4%
• By 2050: 81,568 · +8.6%
• By 2075: 86,602 · +15.3%
• By 2100: 92,201 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 6% Hispanic / Latino 5% Native American 4% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 6% Slovak 3% Iranian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 0%

Political lean MEDSL · Isabella

• 2024 margin: Lean R (+7.5) · D 45.5% · R 53.0% · Other 1.6%
• 2008→2024 swing: -26.7pp toward R · 2008: 19.2pp · 2024: -7.5pp
• All cycles: 2024: R+7.5 2020: R+2.5 2016: R+3.7 2012: D+9.3 2008: D+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.75%
• Current HPI: 206.1153
• Rent YoY: ▲ 16.89%
• Metro: Mount Pleasant, 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

-7.5% since first listed

10 events — show timeline

• 2026-05-23 Contingent — MiRealSource-MiMLS
• 2026-05-23 Contingent — REALCOMP
• 2026-04-27 Relisted — MiRealSource-MiMLS
• 2026-04-27 Relisted — REALCOMP
• 2026-04-20 Contingent — MiRealSource-MiMLS
• 2026-04-20 Contingent — REALCOMP
• 2026-04-10 Price Changed $184,999 MiRealSource-MiMLS
• 2026-04-09 Price Changed $184,999 REALCOMP
• 2026-01-21 Listed $199,999 REALCOMP
• 2026-01-21 Listed $199,999 MiRealSource-MiMLS

Property tax history

+2.3%/yr

Latest (2023): $1,532 · +5.5% YoY. Source: county tax records.