33501 Leona St · Garden City, MI 48135

$239,999

3 bd · 1.0 ba · 882 sqft · SingleFamily public records · 10 Days on market

Built 1955 5,663 sqft lot Est $174k · 38% 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 +7.6/30.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * WELCOME TO 33501 LEONA STREET IN THE HEART OF GARDEN CITY! * * THIS CHARMING 3 BEDROOM, 1 BATH RANCH OFFERS COMFORTABLE LIVING WITH A FUNCTIONAL LAYOUT, SPACIOUS BEDROOMS, AND ABUNDANT NATURAL LIGHT THROUGHOUT * * THE INVITING LIVING ROOM FLOWS INTO THE KITCHEN AND DINING AREA, CREATING A WARM AND WELCOMING SPACE PERFECT FOR EVERYDAY LIVING AND ENTERTAINING * * THE FINISHED BASEMENT ADDS VALUABLE EXTRA LIVING SPACE, IDEAL FOR A FAMILY ROOM, HOME OFFICE, WORKOUT AREA, OR ENTERTAINING GUESTS * * STEP OUTSIDE TO YOUR PRIVATE BACKYARD RETREAT FEATURING AN ABOVE GROUND POOL * * PERFECT FOR COOLING OFF ON SUMMER DAYS, HOSTING GATHERINGS, OR SIMPLY RELAXING OUTDOORS * * THE SPACIOUS YARD ALSO OFFERS PLENTY OF ROOM FOR GARDENING, PLAY, OR ENTERTAINING * * A STANDOUT FEATURE OF THIS PROPERTY IS THE FULLY INSULATED AND HEATED DETACHED GARAGE, OFFERING THE PERFECT SETUP FOR A WORKSHOP, HOBBY SPACE, ADDITIONAL STORAGE, OR YEAR ROUND USE * * CONVENIENTLY LOCATED NEAR PARKS, SCHOOLS, SHOPPING, DINING, AND MAJOR EXPRESSWAYS, THIS HOME COMBINES NEIGHBORHOOD CHARM WITH EVERYDAY ACCESSIBILITY * * WHETHER YOU'RE A FIRST TIME BUYER, DOWNSIZING, OR SEARCHING FOR A GREAT INVESTMENT OPPORTUNITY, 33501 LEONA STREET IS FULL OF POTENTIAL AND READY TO WELCOME YOU HOME * *

Key facts

• 5,663 sq ft lot
• 2 garage spots
• Pool

Property features AI

Finance

• Other: Lot approximately 0.13 acres (50 x 110)

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Aluminum siding and brick exterior
• Construction: Asphalt roof; Built with aluminum siding and brick; Has home warranty
• Exterior features: Deck; Porch; Fenced yard; Above-ground pool; Paved road access

Interior

• Kitchen: Gas water heater
• Bedrooms: 5 total rooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Unfurnished; Finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-283 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (33.8% below list).
• Recommended offer: $159k (33.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 82/100 on livability (#53 in MI, #1,047 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, commute A; Watch: employment C-.
• Garden City Public Schools (suburban): math 22% / reading 36% proficiency, ranked #365 of 540 in MI (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Douglas Elementary 34 Campus (math 29% / reading 32%, grade F, #858 of 1,397 statewide, top 61%, 433 students, 61% FRL); Garden City Middle School (math 20% / reading 36%, grade F, #359 of 493 statewide, top 73%, 435 students, 58% FRL); Garden City High School (math 17% / reading 42%, grade F, #441 of 713 statewide, top 64%, 846 students, 44% FRL).
• Market conditions: Rents rising (+3.6%/yr); 139 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2k of loan paydown is wiped out by about $7k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $74k; list at $240k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,791 (33.8% 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 1955 — 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. 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?
6. 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.
7. 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.
8. 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: 0.66% ✗
• Cap rate: 4.88%
• Cash-on-cash: -5.05%
• DSCR: 0.78
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $173,754
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33647 Kathryn St	0.14mi	3/1.0	927 (+5%)	10mo	$215,000	$232	77
413 Forest St	0.27mi	3/1.5	931 (+6%)	1mo	$167,500	$180	75
34330 Florence Ave	0.44mi	3/1.0	907 (+3%)	1mo	$179,000	$197	74
980 Radcliff St	0.40mi	3/1.0	900 (+2%)	7mo	$180,000	$200	72
33124 Marquette St	0.53mi	3/1.5	908 (+3%)	1mo	$215,000	$237	67
33546 Hiveley St	0.29mi	3/1.0	949 (+8%)	9mo	$175,000	$184	66
33520 Hiveley St	0.28mi	3/1.0	949 (+8%)	10mo	$170,000	$179	66
32911 Brown St	0.59mi	3/1.0	908 (+3%)	8mo	$165,000	$182	61
939 S Wildwood St	0.67mi	3/1.0	949 (+8%)	3mo	$150,000	$158	53
34315 Sheridan St	0.51mi	3/2.0	981 (+11%)	1mo	$189,200	$193	53
442 N Dobson St	0.59mi	3/2.0	988 (+12%)	3mo	$210,500	$213	46
32508 Avondale St	0.72mi	3/1.0	981 (+11%)	5mo	$215,000	$219	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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.17×
• Total profit: $-55,907
• Equity at exit: $35,785

10-year hold

• IRR: -18.1%
• Equity multiple: -0.01×
• Total profit: $-67,735
• Equity at exit: $20,751

Cash invested: $67,200 (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 48135

• Rents YoY: 3.6%
• Active inventory: 139
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,588 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$179 /mo · $2,144/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $-283

Break-even live

Break-even rent $1,946

Max offer price $190,043

Occupancy floor —

Sensitivity live

Price	-10% $-147	-5% $-215	+0% $-283	+5% $-351	+10% $-419
Rent	-10% $-408	-5% $-346	+0% $-283	+5% $-220	+10% $-157
Rate	-1.0pp $-162	-0.5pp $-222	base $-283	+0.5pp $-345	+1.0pp $-408

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33381 Florence St Garden City, MI	3.0	2.0	1000	$1,540	$1.54	4d	1	0.22mi
110 Waterbury Ct Westland, MI	2.0	1.0–2.0	581	$1,350	$2.32	3d	7	0.57mi
32448 Birchwood St Westland, MI	3.0	1.0	963	$1,675	$1.74	18d	1	0.68mi
34856 Fairchild St Westland, MI	3.0	1.0	1013	$1,745	$1.72	12d	1	0.89mi
2024 Imperial Hwy Westland, MI	3.0	1.0	1008	$1,600	$1.59	0d	1	1.10mi
2036 Alberta St Westland, MI	3.0	1.0	936	$1,325	$1.42	45d	1	1.19mi
31217 Cherry Hill Rd Westland, MI	3.0	1.0	1100	$1,800	$1.64	5d	1	1.20mi
2040 Dryden St Westland, MI	3.0	1.0	1100	$1,150	$1.05	19d	1	1.22mi
5995 N Wildwood St Westland, MI	2.0	1.0	960	$1,084	$1.13	45d	1	1.24mi
5800 N Christine Westland, MI	1.0–2.0	1.0	910	$1,445	$1.59	1d	7	1.24mi
2264 Delton Ct Westland, MI	3.0	1.5	1076	$1,300	$1.21	16d	1	1.29mi
2310 Deerfield Ct Westland, MI	3.0	1.5	1100	$1,125	$1.02	45d	1	1.32mi
33507 Berville Ct Westland, MI	2.0	1.5	907	$1,350	$1.49	4d	1	1.34mi
6200 N Wayne Rd Westland, MI	2.0	1.0	748	$1,200	$1.60	45d	1	1.40mi
1353 S Linville Ave Westland, MI	3.0	1.0	948	$1,450	$1.53	12d	1	1.41mi
34039 Cambria Ct Westland, MI	2.0	1.0	836	$1,395	$1.67	45d	1	1.41mi
32860 Mecosta St Unit 1 Westland, MI	2.0	1.0	900	$1,200	$1.33	45d	1	1.49mi
32860 Mecosta St Westland, MI	2.0	1.0	1000	$1,150	$1.15	45d	1	1.49mi

Listing history 6 events

1. 2026-05-31
   status $239,999 Pending 10 DOM
2. 2026-05-31
   days on market $239,999 Active 10 DOM
3. 2026-05-22
   listed $239,999 Active 1280-char remark

   Show marketing remark (1280 chars)

   * * WELCOME TO 33501 LEONA STREET IN THE HEART OF GARDEN CITY! * * THIS CHARMING 3 BEDROOM, 1 BATH RANCH OFFERS COMFORTABLE LIVING WITH A FUNCTIONAL LAYOUT, SPACIOUS BEDROOMS, AND ABUNDANT NATURAL LIGHT THROUGHOUT * * THE INVITING LIVING ROOM FLOWS INTO THE KITCHEN AND DINING AREA, CREATING A WARM AND WELCOMING SPACE PERFECT FOR EVERYDAY LIVING AND ENTERTAINING * * THE FINISHED BASEMENT ADDS VALUABLE EXTRA LIVING SPACE, IDEAL FOR A FAMILY ROOM, HOME OFFICE, WORKOUT AREA, OR ENTERTAINING GUESTS * * STEP OUTSIDE TO YOUR PRIVATE BACKYARD RETREAT FEATURING AN ABOVE GROUND POOL * * PERFECT FOR COOLING OFF ON SUMMER DAYS, HOSTING GATHERINGS, OR SIMPLY RELAXING OUTDOORS * * THE SPACIOUS YARD ALSO OFFERS PLENTY OF ROOM FOR GARDENING, PLAY, OR ENTERTAINING * * A STANDOUT FEATURE OF THIS PROPERTY IS THE FULLY INSULATED AND HEATED DETACHED GARAGE, OFFERING THE PERFECT SETUP FOR A WORKSHOP, HOBBY SPACE, ADDITIONAL STORAGE, OR YEAR ROUND USE * * CONVENIENTLY LOCATED NEAR PARKS, SCHOOLS, SHOPPING, DINING, AND MAJOR EXPRESSWAYS, THIS HOME COMBINES NEIGHBORHOOD CHARM WITH EVERYDAY ACCESSIBILITY * * WHETHER YOU'RE A FIRST TIME BUYER, DOWNSIZING, OR SEARCHING FOR A GREAT INVESTMENT OPPORTUNITY, 33501 LEONA STREET IS FULL OF POTENTIAL AND READY TO WELCOME YOU HOME * *

4. 2026-05-22
   listed $239,999 Active

   Show marketing remark (1280 chars)

   * * WELCOME TO 33501 LEONA STREET IN THE HEART OF GARDEN CITY! * * THIS CHARMING 3 BEDROOM, 1 BATH RANCH OFFERS COMFORTABLE LIVING WITH A FUNCTIONAL LAYOUT, SPACIOUS BEDROOMS, AND ABUNDANT NATURAL LIGHT THROUGHOUT * * THE INVITING LIVING ROOM FLOWS INTO THE KITCHEN AND DINING AREA, CREATING A WARM AND WELCOMING SPACE PERFECT FOR EVERYDAY LIVING AND ENTERTAINING * * THE FINISHED BASEMENT ADDS VALUABLE EXTRA LIVING SPACE, IDEAL FOR A FAMILY ROOM, HOME OFFICE, WORKOUT AREA, OR ENTERTAINING GUESTS * * STEP OUTSIDE TO YOUR PRIVATE BACKYARD RETREAT FEATURING AN ABOVE GROUND POOL * * PERFECT FOR COOLING OFF ON SUMMER DAYS, HOSTING GATHERINGS, OR SIMPLY RELAXING OUTDOORS * * THE SPACIOUS YARD ALSO OFFERS PLENTY OF ROOM FOR GARDENING, PLAY, OR ENTERTAINING * * A STANDOUT FEATURE OF THIS PROPERTY IS THE FULLY INSULATED AND HEATED DETACHED GARAGE, OFFERING THE PERFECT SETUP FOR A WORKSHOP, HOBBY SPACE, ADDITIONAL STORAGE, OR YEAR ROUND USE * * CONVENIENTLY LOCATED NEAR PARKS, SCHOOLS, SHOPPING, DINING, AND MAJOR EXPRESSWAYS, THIS HOME COMBINES NEIGHBORHOOD CHARM WITH EVERYDAY ACCESSIBILITY * * WHETHER YOU'RE A FIRST TIME BUYER, DOWNSIZING, OR SEARCHING FOR A GREAT INVESTMENT OPPORTUNITY, 33501 LEONA STREET IS FULL OF POTENTIAL AND READY TO WELCOME YOU HOME * *

5. 2026-05-20
   historical $239,999 1280-char remark

   Show marketing remark (1280 chars)

   * * WELCOME TO 33501 LEONA STREET IN THE HEART OF GARDEN CITY! * * THIS CHARMING 3 BEDROOM, 1 BATH RANCH OFFERS COMFORTABLE LIVING WITH A FUNCTIONAL LAYOUT, SPACIOUS BEDROOMS, AND ABUNDANT NATURAL LIGHT THROUGHOUT * * THE INVITING LIVING ROOM FLOWS INTO THE KITCHEN AND DINING AREA, CREATING A WARM AND WELCOMING SPACE PERFECT FOR EVERYDAY LIVING AND ENTERTAINING * * THE FINISHED BASEMENT ADDS VALUABLE EXTRA LIVING SPACE, IDEAL FOR A FAMILY ROOM, HOME OFFICE, WORKOUT AREA, OR ENTERTAINING GUESTS * * STEP OUTSIDE TO YOUR PRIVATE BACKYARD RETREAT FEATURING AN ABOVE GROUND POOL * * PERFECT FOR COOLING OFF ON SUMMER DAYS, HOSTING GATHERINGS, OR SIMPLY RELAXING OUTDOORS * * THE SPACIOUS YARD ALSO OFFERS PLENTY OF ROOM FOR GARDENING, PLAY, OR ENTERTAINING * * A STANDOUT FEATURE OF THIS PROPERTY IS THE FULLY INSULATED AND HEATED DETACHED GARAGE, OFFERING THE PERFECT SETUP FOR A WORKSHOP, HOBBY SPACE, ADDITIONAL STORAGE, OR YEAR ROUND USE * * CONVENIENTLY LOCATED NEAR PARKS, SCHOOLS, SHOPPING, DINING, AND MAJOR EXPRESSWAYS, THIS HOME COMBINES NEIGHBORHOOD CHARM WITH EVERYDAY ACCESSIBILITY * * WHETHER YOU'RE A FIRST TIME BUYER, DOWNSIZING, OR SEARCHING FOR A GREAT INVESTMENT OPPORTUNITY, 33501 LEONA STREET IS FULL OF POTENTIAL AND READY TO WELCOME YOU HOME * *

6. 1992-04-03
   soldstatus $74,000

ⓘ 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: $2,144 · $179/mo
• Projected year-2 tax: $2,920 · $243/mo
• Expected delta: +$776/yr (+$65/mo · 36.2%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,055
• − Mortgage interest: −$13,444
• − Property taxes: −$2,144
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,524
• − Management: −$1,524
• − Depreciation: −$6,982
• Taxable loss: −$7,763
• Est. tax savings @ 24.0%: +$1,863
• After-tax cash flow: $-1,530/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: Garden City Public Schools
• NCES district ID: 2615540
• Math proficiency: 22% ▼ -11.00%
• Reading proficiency: 36% ▼ -13.00%
• Median HH income: $52,165
• Composite: 25.53/100
• National rank: #7433
• State rank: #365 of 540 in MI

Livability — Garden City

• Score: 82/100
• State rank: #53
• US rank: #1047

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garden City, MI
• County: Wayne County · 1,562,939 people
• City population: 26,739
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 26,739
• Household income: $67,294
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 509.0

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: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Black 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 13% Italian 4% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Arabic 3% Spanish 1% Other Indo-European 1%

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: ▼ -265.28%
• Current HPI: 212.5713
• Rent YoY: ▲ 3.65%
• 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

+224.3% since first listed

4 events — show timeline

• 2026-05-22 Listed $239,999 MiRealSource-MiMLS
• 2026-05-22 Listed $239,999 REALCOMP
• 2026-05-20 Coming Soon $239,999 MiRealSource-MiMLS
• 1992-04-03 Sold (Public Records) $74,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,144 · -11.0% YoY. Source: county tax records.