1426 Leblanc St · Lincoln Park, MI 48146

$190,000

3 bd · 1.0 ba · 1,196 sqft · SingleFamily public records · 4 Days on market

Built 1941 4,182 sqft lot Est $191k · at est.

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Why this score? — see what drove the F 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 +8.2/30.0
• ARV discount +7.8/15.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.2/10.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-maintained 3-bedroom, 2-full-bath bungalow has been lovingly cared for and features several recent updates that make it truly move-in ready. Inside, you'll enjoy an updated main floor bathroom and a spacious main-floor bedroom with its own door leading directly to the deck. This bedroom is flooded with natural light and offers beautiful views of the backyard oasis, perfect for guests, a home office, or easy one-level living. The home offers a comfortable, functional layout with plenty of natural light throughout. The partially finished basement provides flexible extra space for a family room, play area, workout space, or future finishing. Recent upgrades include a new roof (2021) and a new hot water tank (2022), giving you peace of mind for years to come. Outside is where this home really shines. Step out onto the large deck with gazebo, ideal for entertaining, BBQs, and relaxing evenings. Prepped area already set up for a pool (just add the pool!). Items in the shed stay

Key facts

• Large deck
• Natural light
• Backyard oasis

Tags

• UPDATED MAIN FLOOR BATHROOM
• SPACIOUS MAIN-FLOOR BEDROOM
• NATURAL LIGHT
• BACKYARD OASIS
• PARTIALLY FINISHED BASEMENT
• LARGE DECK

Property features AI

Exterior

• Utilities: Public water
• Home design: Single family residence; Residential property
• Construction: Brick construction; Built in 1941; Asphalt roof
• Exterior features: Paved road access

Interior

• Kitchen: Kitchen (two listed)
• Bedrooms: Primary bedroom (approx. 10.5 x 10.1); Bedroom 2 (approx. 9.7 x 10.2); Bedroom 3 (approx. 22.1 x 15.4)
• Bathrooms: 2 full bathrooms; Primary bathroom (approx. 8.4 x 6.4); Bathroom 2 (approx. 7.4 x 6.9)
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 7 total rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-180 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (16.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (26.3% below list).
• Recommended offer: $140k (26.3% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 6.5% in Lincoln Park — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 80/100 on livability (#82 in MI, #1,720 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Lincoln Park School District (suburban): math 15% / reading 32% proficiency, ranked #440 of 540 in MI (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hoover School (math 42% / reading 42%, grade F, #547 of 1,397 statewide, top 41%, 278 students, 90% FRL); Lincoln Park Middle School (math 12% / reading 35%, grade F, #399 of 493 statewide, top 81%, 1,105 students, 86% FRL); Lincoln Park High School (math 5% / reading 33%, grade F, #630 of 713 statewide, top 88%, 1,367 students, 79% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 154 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 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 $6k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 8y ago 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.
• Current owner paid $94k; list at $190k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,936 (26.3% 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. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.74% ✗
• Cap rate: 5.16%
• Cash-on-cash: -4.05%
• DSCR: 0.82
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $191,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4137 Duplex Ave	0.29mi	3/1.0	1,200 (+0%)	1mo	$206,000	$172	85
1660 Goddard Rd	0.33mi	3/1.0	1,174 (-2%)	1mo	$188,000	$160	81
1119 Harrison Blvd	0.33mi	3/1.0	1,145 (-4%)	1mo	$179,900	$157	77
4166 Porter Ave	0.57mi	3/1.0	1,188 (-1%)	2mo	$128,000	$108	70
844 Harrison Blvd	0.58mi	3/1.0	1,210 (+1%)	3mo	$170,000	$140	69
1311 Gregory St	0.54mi	3/1.0	1,128 (-6%)	1mo	$145,900	$129	65
663 Highland Ave	0.71mi	3/1.5	1,200 (+0%)	3mo	$195,000	$163	62
1063 19th St	0.64mi	2/1.0 (-1)	1,179 (-1%)	2mo	$182,000	$154	62
673 Leblanc St	0.66mi	3/1.0	1,092 (-9%)	1mo	$177,900	$163	54
1829 Alard Ave	0.61mi	3/1.0	1,026 (-14%)	1mo	$206,000	$201	47
1683 Pagel Ave	0.70mi	3/1.0	1,338 (+12%)	3mo	$207,000	$155	45
12813 Birrell St	0.73mi	3/1.0	1,050 (-12%)	2mo	$212,000	$202	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.65% rent growth · sell at horizon

5-year hold

• IRR: -21.3%
• Equity multiple: 0.25×
• Total profit: $-39,861
• Equity at exit: $28,330

10-year hold

• IRR: -11.6%
• Equity multiple: 0.26×
• Total profit: $-39,401
• Equity at exit: $16,428

Cash invested: $53,200 (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 48146

• Home prices YoY: -32.7%
• Rents YoY: 4.7%
• Active inventory: 154
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,399 high
• Mortgage (P&I): −$996
• Tax from tax record: −$210 /mo · $2,514/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $-180

Break-even live

Break-even rent $1,627

Max offer price $158,275

Occupancy floor —

Sensitivity live

Price	-10% $-72	-5% $-126	+0% $-180	+5% $-233	+10% $-287
Rent	-10% $-290	-5% $-235	+0% $-180	+5% $-124	+10% $-69
Rate	-1.0pp $-84	-0.5pp $-131	base $-180	+0.5pp $-229	+1.0pp $-279

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1750 Saint Johns Blvd Unit 17 Lincoln Park, MI	2.0	1.0	750	$1,025	$1.37	26d	1	0.42mi
1760 Saint Johns Blvd Apt 14 Lincoln Park, MI	2.0	1.0	750	$995	$1.33	26d	1	0.44mi
4163 Burns Ave Lincoln Park, MI	3.0	1.0	900	$1,500	$1.67	3d	1	0.49mi
1130 21st St Wyandotte, MI	3.0	1.0	864	$1,420	$1.64	0d	1	0.55mi
854 Harrison Blvd Lincoln Park, MI	3.0	1.0	1410	$1,750	$1.24	45d	1	0.56mi
750 Harrison Blvd Unit 5 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	6d	1	0.65mi
1343 Pagel Ave Unit 2-Upper Lincoln Park, MI	2.0	1.0	1000	$1,250	$1.25	20d	1	0.66mi
720 Harrison Blvd Unit 20 Lincoln Park, MI	2.0	1.0	800	$1,025	$1.28	4d	1	0.68mi
610 Harrison Blvd Unit 46 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	4d	1	0.70mi
610 Harrison Blvd Apt 43 Lincoln Park, MI	2.0	1.0	800	$1,050	$1.31	26d	1	0.70mi
1163 17th St Wyandotte, MI	3.0	1.0	1010	$1,695	$1.68	45d	1	0.72mi
1650 19th St Wyandotte, MI	3.0	2.0	1100	$1,899	$1.73	20d	1	0.81mi
11400 Fordline St Allen Park, MI	1.0–2.0	1.0	880	$1,400	$1.59	0d	1	1.00mi
357 Emmons Blvd Lincoln Park, MI	3.0	1.0	1268	$1,695	$1.34	0d	1	1.00mi
13020 Pullman St Southgate, MI	4.0	1.0	1050	$1,550	$1.48	4d	1	1.01mi
708 Highland St Unit 1 Wyandotte, MI	2.0	1.0	800	$950	$1.19	20d	1	1.16mi
2235 Moore Rd Unit 1 Lincoln Park, MI	2.0	1.0	800	$1,000	$1.25	26d	1	1.27mi
424 4th St Wyandotte, MI	2.0	1.0	925	$1,350	$1.46	26d	1	1.38mi
9725 Fox Ave Allen Park, MI	3.0	1.5	940	$1,850	$1.97	45d	1	1.43mi

Listing history 4 events

1. 2026-06-08
   statusdays on market $190,000 Pending 4 DOM
2. 2026-06-07
   days on market $190,000 Active 3 DOM
3. 2026-06-04
   remarks 699-char remark

   Show marketing remark (996 chars)

   This well-maintained 3-bedroom, 2-full-bath bungalow has been lovingly cared for and features several recent updates that make it truly move-in ready. Inside, you'll enjoy an updated main floor bathroom and a spacious main-floor bedroom with its own door leading directly to the deck. This bedroom is flooded with natural light and offers beautiful views of the backyard oasis, perfect for guests, a home office, or easy one-level living. The home offers a comfortable, functional layout with plenty of natural light throughout. The partially finished basement provides flexible extra space for a family room, play area, workout space, or future finishing. Recent upgrades include a new roof (2021) and a new hot water tank (2022), giving you peace of mind for years to come. Outside is where this home really shines. Step out onto the large deck with gazebo, ideal for entertaining, BBQs, and relaxing evenings. Prepped area already set up for a pool (just add the pool!). Items in the shed stay

4. 2026-06-04
   listed $190,000 Active 1 DOM

   Show marketing remark (996 chars)

   This well-maintained 3-bedroom, 2-full-bath bungalow has been lovingly cared for and features several recent updates that make it truly move-in ready. Inside, you'll enjoy an updated main floor bathroom and a spacious main-floor bedroom with its own door leading directly to the deck. This bedroom is flooded with natural light and offers beautiful views of the backyard oasis, perfect for guests, a home office, or easy one-level living. The home offers a comfortable, functional layout with plenty of natural light throughout. The partially finished basement provides flexible extra space for a family room, play area, workout space, or future finishing. Recent upgrades include a new roof (2021) and a new hot water tank (2022), giving you peace of mind for years to come. Outside is where this home really shines. Step out onto the large deck with gazebo, ideal for entertaining, BBQs, and relaxing evenings. Prepped area already set up for a pool (just add the pool!). Items in the shed stay

ⓘ 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: $2,514 · $210/mo
• Projected year-2 tax: $2,720 · $227/mo
• Expected delta: +$206/yr (+$17/mo · 8.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,792
• − Mortgage interest: −$10,643
• − Property taxes: −$2,514
• − Insurance: −$950
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$5,527
• Taxable loss: −$5,529
• Est. tax savings @ 24.0%: +$1,327
• After-tax cash flow: $-828/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: Lincoln Park School District
• NCES district ID: 2621600
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $41,486
• Composite: 19.93/100
• National rank: #8678
• State rank: #440 of 540 in MI

Livability — Lincoln Park

• Score: 80/100
• State rank: #82
• US rank: #1720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln Park, MI
• County: Wayne County · 1,562,939 people
• City population: 39,257
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,257
• Household income: $58,616
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1142.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 25% Two or more races 12% Black 9% Native American 1%
• Hispanic origin (detail): Mexican 19% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 80% English-only · Spanish 17% Arabic 2%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.25%
• Current HPI: 222.8545
• Rent YoY: ▲ 4.65%
• Metro: Detroit-Warren-Dearborn, 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

+92.9% since first listed

9 events — show timeline

• 2026-06-04 Listed $190,000 SW Michigan MLS
• 2026-06-04 Listed $190,000 REALCOMP
• 2026-06-04 Listed $190,000 MiRealSource-MiMLS
• 2019-02-14 Sold (MLS) $94,000 MiRealSource-MiMLS
• 2019-02-14 Sold (MLS) $94,000 REALCOMP
• 2019-01-04 Pending — MiRealSource-MiMLS
• 2019-01-04 Pending — REALCOMP
• 2018-12-06 Listed $98,500 MiRealSource-MiMLS
• 2018-12-06 Listed $98,500 REALCOMP

Property tax history

+4.8%/yr

Latest (2025): $2,514 · +0.7% YoY. Source: county tax records.