1946 Leblanc St · Lincoln Park, MI 48146

$199,999

3 bd · 1.0 ba · 1,083 sqft · SingleFamily public records · 4 Days on market

Built 1946 4,356 sqft lot Est $173k · 15% over

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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 +6.9/30.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Schools +2.0/10.0
• DSCR +1.2/10.0
• ARV discount +0.6/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

MULTIPLE OFFERS!!! HIGHEST AND BEST TUESDAY 3-2-2021 AT NOON!!! Simply Beautiful Remodeled Home with tons of natural lighting. Kitchen fully finished in 2021. New cabinets with Soft closing doors and drawers. Ceramic tile floor that goes to Dining area. Entire main floor is freshly painted with crown molding in the living room. Laminated floor in living room down thru hallway. Bathroom remodeled with ceramic tile flooring, and tub surround. New toilet and Vanity sink. Basement is water proofed prior to 2012. Hot water tank from 2012, Furnace from 2013. Basement is freshly painted. Seller ordered City inspection. Buyer to assume any and all city required repairs.

Key facts

• Covered front porch
• Newer appliances
• Updated kitchen

Tags

• COVERED FRONT PORCH
• UPDATED KITCHEN
• NEWER APPLIANCES
• ABUNDANT STORAGE
• OPEN LIVING AND DINING AREAS
• PARTIALLY FINISHED LOWER LEVEL

Property features AI

Finance

• Other: Has home warranty

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Forced air heating (electric and natural gas)
• Home design: Residential 1 1/2-story home; Built in 1946
• Construction: Basement foundation
• Exterior features: Vinyl siding; Paved street access; Frontage approximately 37 feet

Interior

• Kitchen: Entry-level kitchen (10 x 10) with ceramic flooring
• Bedrooms: Second-level primary bedroom (23 x 12); Entry-level bedroom (12 x 10) with wood floors; Entry-level bedroom (approx. 8' wide) with wood floors; Total of 7 rooms
• Flooring: Wood flooring in living room and some bedrooms; Ceramic flooring in kitchen, dining room, and bathroom
• Bathrooms: One full bathroom on entry level with ceramic flooring
• Heating & cooling: Forced air heating; Electric and natural gas fuel options
• Interior features: Partially finished basement
• Laundry & utility: Basement access

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-298 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (26.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (29.2% below list).
• Recommended offer: $142k (29.2% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 6.4% 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: schools D-, 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.
• Market conditions: Rents rising fast (+4.7%/yr); 151 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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.
• 6 sale attempts since 26y 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 $129k; list at $200k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,563 (29.2% 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. Built in 1946 — 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: 0.71% ✗
• Cap rate: 4.50%
• Cash-on-cash: -6.39%
• DSCR: 0.72
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $173,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4021 Hazel Ave	0.14mi	3/1.0	1,120 (+3%)	5mo	$170,000	$152	84
11306 Lenoir St	0.34mi	3/2.5	1,069 (-1%)	3mo	$272,000	$254	74
1829 Alard Ave	0.38mi	3/1.0	1,026 (-5%)	0mo	$206,000	$201	73
2194 Leblanc St	0.24mi	3/1.0	1,169 (+8%)	4mo	$139,000	$119	72
2170 Michigan Blvd Blvd	0.22mi	3/1.0	960 (-11%)	2mo	$155,000	$161	69
1819 Goddard Rd	0.29mi	3/2.0	994 (-8%)	2mo	$70,000	$70	67
1660 Goddard Rd	0.40mi	3/1.0	1,174 (+8%)	1mo	$188,000	$160	67
4166 Porter Ave	0.35mi	3/1.0	1,188 (+10%)	2mo	$128,000	$108	65
2121 Buckingham Ave	0.60mi	3/1.0	1,012 (-7%)	4mo	$159,900	$158	58
1670 Michigan Blvd	0.36mi	4/1.0 (+1)	1,211 (+12%)	4mo	$189,000	$156	55
4137 Duplex Ave	0.61mi	3/1.0	1,200 (+11%)	1mo	$206,000	$172	52
2071 Meyer Ct	0.74mi	3/1.5	999 (-8%)	2mo	$190,000	$190	49

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: -25.4%
• Equity multiple: 0.13×
• Total profit: $-48,967
• Equity at exit: $29,821

10-year hold

• IRR: -17.2%
• Equity multiple: -0.01×
• Total profit: $-56,781
• Equity at exit: $17,292

Cash invested: $56,000 (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: 151
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,416 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$284 /mo · $3,412/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $-298

Break-even live

Break-even rent $1,793

Max offer price $147,329

Occupancy floor —

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1760 Saint Johns Blvd Apt 14 Lincoln Park, MI	2.0	1.0	750	$995	$1.33	24d	1	0.27mi
1750 Saint Johns Blvd Unit 17 Lincoln Park, MI	2.0	1.0	750	$1,025	$1.37	24d	1	0.29mi
11400 Fordline St Allen Park, MI	1.0–2.0	1.0	880	$1,400	$1.59	2d	1	0.36mi
4163 Burns Ave Lincoln Park, MI	3.0	1.0	900	$1,500	$1.67	2d	1	0.41mi
2235 Moore Rd Unit 1 Lincoln Park, MI	2.0	1.0	800	$1,000	$1.25	24d	1	0.88mi
9725 Fox Ave Allen Park, MI	3.0	1.5	940	$1,850	$1.97	44d	1	0.93mi
1343 Pagel Ave Unit 2-Upper Lincoln Park, MI	2.0	1.0	1000	$1,250	$1.25	18d	1	0.97mi
1130 21st St Wyandotte, MI	3.0	1.0	864	$1,420	$1.64	2d	1	1.05mi
13020 Pullman St Southgate, MI	4.0	1.0	1050	$1,550	$1.48	3d	1	1.17mi
854 Harrison Blvd Lincoln Park, MI	3.0	1.0	1410	$1,750	$1.24	44d	1	1.20mi
13165 Turnberry Ct Southgate, MI	2.0	2.0	1275	$1,795	$1.41	5d	1	1.21mi
13165 Turnberry Ct Southgate, MI	2.0	2.0	1275	$1,795	$1.41	44d	1	1.21mi
12939 Devoe St Southgate, MI	3.0	1.0	1177	$1,695	$1.44	44d	1	1.21mi
9814 Quandt Ave Allen Park, MI	3.0	2.0	1050	$1,800	$1.71	44d	1	1.22mi
1650 19th St Wyandotte, MI	3.0	2.0	1100	$1,899	$1.73	18d	1	1.27mi
13210 Village Park Dr Southgate, MI	2.0	1.0	630	$1,125	$1.78	2d	9	1.27mi
1163 17th St Wyandotte, MI	3.0	1.0	1010	$1,695	$1.68	44d	1	1.29mi
750 Harrison Blvd Unit 5 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	5d	1	1.30mi
720 Harrison Blvd Unit 20 Lincoln Park, MI	2.0	1.0	800	$1,025	$1.28	3d	1	1.33mi
610 Harrison Blvd Unit 46 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	3d	1	1.35mi
610 Harrison Blvd Apt 43 Lincoln Park, MI	2.0	1.0	800	$1,050	$1.31	24d	1	1.35mi

Listing history 7 events

1. 2026-06-18
   days on market $199,999 Active 4 DOM
2. 2026-06-17
   days on market $199,999 Active 3 DOM
3. 2026-06-16
   days on market $199,999 Active 2 DOM
4. 2026-06-15
   days on marketlisting id $199,999 Active 1 DOM
5. 2026-06-15
   days on market $199,999 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $199,999 Active 1 DOM

ⓘ 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: $3,412 · $284/mo
• Projected year-2 tax: $3,412 · $284/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 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: $16,988
• − Mortgage interest: −$11,203
• − Property taxes: −$3,412
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$5,818
• Taxable loss: −$7,164
• Est. tax savings @ 24.0%: +$1,719
• After-tax cash flow: $-1,859/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

+103.0% since first listed

16 events — show timeline

• 2026-06-12 Listed $199,999 MiRealSource-MiMLS
• 2021-04-20 Listing Removed — REALCOMP
• 2021-04-13 Sold (Public Records) $129,000 Public Records
• 2021-04-01 Sold (MLS) $129,000 MiRealSource-MiMLS
• 2021-04-01 Sold (MLS) $129,000 REALCOMP
• 2021-03-03 Pending — MiRealSource-MiMLS
• 2021-03-03 Pending — REALCOMP
• 2021-02-28 Listed $120,000 MiRealSource-MiMLS
• 2021-02-28 Listed $120,000 REALCOMP
• 2010-01-20 Sold (MLS) $25,010 REALCOMP
• 2009-12-04 Listed $15,000 REALCOMP
• 2000-08-17 Sold (Public Records) $98,500 Public Records
• 2000-03-24 Sold (MLS) $98,500 MiRealSource-MiMLS
• 2000-03-24 Sold (MLS) $98,500 REALCOMP
• 2000-02-03 Listed $98,500 MiRealSource-MiMLS
• 2000-02-02 Listed $98,500 REALCOMP

Property tax history

+6.9%/yr

Latest (2025): $3,412 · +0.7% YoY. Source: county tax records.