3244 Tuttle Rd · Leslie, MI 49251

$149,900

4 bd · 1.0 ba · 1,344 sqft · SingleFamily · 69 Days on market

Built 1965 1.00 ac lot $112/sqft · 48% below area Est $289k · 48% under

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Why this score? — see what drove the C 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great country setting, Minutes from US 127. Home sits on 1 acre and has up to 4 bedrooms if needed. Put your touches on it and make it yours. Home has electric heat. Working on the well and septic approval with Ingham County. 5 acres also for sale next door. Ingham County point of sale regarding well and septic in process, new well will be installed.

Key facts

• 5 acres for sale
• 1 acre
• Electric heat

Tags

• 1 ACRE
• 5 ACRES FOR SALE
• ELECTRIC HEAT
• WELL AND SEPTIC APPROVAL

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (7.7% below list).
• Recommended offer: $138k (7.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 4.0% in Leslie — 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 75/100 on livability (#159 in MI, #4,066 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Leslie Public Schools (rural): math 23% / reading 39% proficiency, ranked #329 of 540 in MI (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodworth Elementary School (math 27% / reading 32%, grade F, #866 of 1,397 statewide, top 65%, 439 students, 56% FRL); Leslie Middle School (math 22% / reading 40%, grade F, #329 of 493 statewide, top 67%, 303 students, 47% FRL); Leslie High School (math 24% / reading 44%, grade F, #372 of 713 statewide, top 56%, 342 students, 44% FRL).
• Market conditions: 39 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $138,376 (7.7% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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. 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.
6. 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.
7. 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: 0.92% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• GRM: 9.0

CMA / ARV

• ARV (median comp): $288,766
• List price: $149,900
• Delta: -48.09%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.6%
• Equity multiple: 0.68×
• Total profit: $-13,299
• Equity at exit: $22,351

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $2,433
• Equity at exit: $12,961

Cash invested: $41,972 (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 49251

• Active inventory: 39
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,384 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$71 /mo · $855/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $173

Break-even live

Break-even rent $1,164

Max offer price $149,900

Occupancy floor 82%

Sensitivity live

Price	-10% $258	-5% $216	+0% $173	+5% $131	+10% $89
Rent	-10% $64	-5% $119	+0% $173	+5% $228	+10% $283
Rate	-1.0pp $249	-0.5pp $211	base $173	+0.5pp $135	+1.0pp $95

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $149,900 Active 69 DOM
2. 2026-06-21
   days on market $149,900 Active 68 DOM
3. 2026-06-18
   days on market $149,900 Active 66 DOM
4. 2026-06-17
   days on market $149,900 Active 65 DOM
5. 2026-06-16
   days on market $149,900 Active 64 DOM
6. 2026-06-15
   days on market $149,900 Active 63 DOM
7. 2026-06-13
   days on market $149,900 Active 61 DOM
8. 2026-06-12
   days on market $149,900 Active 60 DOM
9. 2026-06-09
   days on market $149,900 Active 57 DOM
10. 2026-06-08
    days on market $149,900 Active 56 DOM
11. 2026-06-07
    days on market $149,900 Active 55 DOM
12. 2026-06-07
    days on market $149,900 Active 54 DOM
13. 2026-06-04
    days on market $149,900 Active 51 DOM
14. 2026-06-02
    days on market $149,900 Active 50 DOM
15. 2026-06-01
    days on market $149,900 Active 49 DOM
16. 2026-05-31
    days on market $149,900 Active 48 DOM
17. 2026-05-31
    days on market $149,900 Active 47 DOM
18. 2026-04-13
    listed $149,900 Active 352-char remark

    Show marketing remark (353 chars)

    Great country setting, Minutes from US 127. Home sits on 1 acre and has up to 4 bedrooms if needed. Put your touches on it and make it yours. Home has electric heat. Working on the well and septic approval with Ingham County. 5 acres also for sale next door. Ingham County point of sale regarding well and septic in process, new well will be installed.

19. 2026-04-13
    listed $149,900 Active 353-char remark

    Show marketing remark (353 chars)

    Great country setting, Minutes from US 127. Home sits on 1 acre and has up to 4 bedrooms if needed. Put your touches on it and make it yours. Home has electric heat. Working on the well and septic approval with Ingham County. 5 acres also for sale next door. Ingham County point of sale regarding well and septic in process, new well will be installed.

ⓘ 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: $855 · $71/mo
• Projected year-2 tax: $1,582 · $132/mo
• Expected delta: +$727/yr (+$61/mo · 85.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $16,605
• − Mortgage interest: −$8,397
• − Property taxes: −$855
• − Insurance: −$750
• − Repairs & maintenance: −$1,328
• − Management: −$1,328
• − Depreciation: −$4,361
• Taxable loss: −$414
• Est. tax savings @ 24.0%: +$99
• After-tax cash flow: $2,180/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: Leslie Public Schools
• NCES district ID: 2621450
• Math proficiency: 23% ▼ -11.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $56,686
• Composite: 27.61/100
• National rank: #6929
• State rank: #329 of 540 in MI

Livability — Leslie

• Score: 75/100
• State rank: #159
• US rank: #4066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,110

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: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 5% Romanian 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -134.75%
• Current HPI: 173.7673
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-13 Listed $149,900 REALCOMP
• 2026-04-13 Listed $149,900 Greater Lansing AoR

Property tax history

+0.0%/yr

Latest (2025): $855 · +5.0% YoY. Source: county tax records.