5402 Leland St · Brighton, MI 48116

$315,000

3 bd · 1.5 ba · 1,634 sqft · SingleFamily public records · 21 Days on market

Built 1953 7,405 sqft lot Est $335k · 6% 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 +19.1/30.0
• ARV discount +10.2/15.0
• DSCR +6.0/10.0
• Schools +5.8/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Corner lot ranch home in Brighton! Shady entryway opens to a welcoming and natural light-filled large living room. Kitchen is pristinely maintained, with plenty of cabinet and counter space, views to overlook the living room, and a large pantry with desk space. Original hardwood flooring throughout the bright dining room. Primary bedroom has an ensuite half bath and walk in closet - a luxury for homes of this size. Two additional well-sized bedrooms share a full bathroom with main floor laundry. Unfinished basement is your blank canvas for a multitude of storage, or to be finished as a home gym or added living space! Attached side entry two car garage - a rare commodity for this neighborhood! Set on a large corner lot, the fenced backyard is a great space to let little ones and furry friends roam free while watching from the comfort of the shaded covered patio. Hope on your bikes and venture to nearby neighborhood Veteran's Park or Downtown Brighton just a few blocks away. Take advantage of a great ranch home and build your equity in growing Brighton - schedule your showing today!

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1953

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: Attached garage; Garage faces side; 2 garage spaces
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence; One level; Ground-level entry
• Construction: Vinyl siding; Asphalt roof; Block foundation; Built as residential single-family
• Exterior features: Covered porch; Paved road access; Lot approximately 0.17 acres (60 x 124)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fan(s)
• Interior features: Gas water heater; Unfinished basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $334 ($4k/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 $297k (5.7% below list).
• Recommended offer: $297k (5.7% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.2% in Brighton — 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 78/100 on livability (#108 in MI, #2,621 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Brighton Area Schools (suburban): math 59% / reading 69% proficiency, ranked #22 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 178 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 488 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($107k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Livingston County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $242k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $296,974 (5.7% below list)

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $334,970
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5417 Leland St	0.05mi	3/2.0	1,725 (+6%)	9mo	$320,000	$186	79
128 Becker Dr	0.44mi	3/1.5	1,648 (+1%)	0mo	$320,000	$194	78
5320 Leland St	0.13mi	3/1.0	1,573 (-4%)	10mo	$305,000	$194	78
5418 Military Ave	0.19mi	3/2.5	1,692 (+4%)	16mo	$241,000	$142	68
739 Nelson St	0.69mi	3/1.5	1,640 (+0%)	13mo	$316,500	$193	56
4639 Crestway Dr	0.66mi	2/2.0 (-1)	1,712 (+5%)	2mo	$410,000	$239	53
4945 Walker Dr	0.58mi	3/2.0	1,540 (-6%)	12mo	$315,000	$205	51
5334 Military Ave	0.21mi	2/2.0 (-1)	1,840 (+13%)	20mo	$320,000	$174	46
5258 Ethel St	0.26mi	4/1.0 (+1)	1,419 (-13%)	20mo	$308,000	$217	43
638 Glenwyth Rd	0.74mi	3/2.0	1,784 (+9%)	10mo	$385,000	$216	40
9003 Spencer Ct	0.49mi	4/2.5 (+1)	1,776 (+9%)	19mo	$385,000	$217	38
5003 Walsh Dr	0.63mi	3/2.5	1,472 (-10%)	16mo	$366,700	$249	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-29,797
• Equity at exit: $46,968

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $1,255
• Equity at exit: $27,235

Cash invested: $88,200 (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 48116

• Active inventory: 178
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,970 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$228 /mo · $2,742/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$624
• Net cashflow: $334

Break-even live

Break-even rent $2,546

Max offer price $315,000

Occupancy floor 84%

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
293 N 2nd St Brighton, MI	2.0	2.0	1139	$2,300	$2.02	43d	1	1.10mi
700 N 2nd St Brighton, MI	1.0–3.0	1.0–2.0	1039	$3,335	$3.21	1d	1	1.17mi
4229 Deeside Dr Brighton, MI	2.0–3.0	2.0	1632	$2,669	$1.64	1d	1	1.20mi

Listing history 31 events

1. 2026-06-18
   days on market $315,000 Active 21 DOM
2. 2026-06-18
   price $315,000 Active 20 DOM
3. 2026-06-17
   days on market $325,000 Active 20 DOM
4. 2026-06-16
   days on market $325,000 Active 19 DOM
5. 2026-06-15
   days on market $325,000 Active 18 DOM
6. 2026-06-13
   days on market $325,000 Active 16 DOM
7. 2026-06-13
   days on market $325,000 Active 15 DOM
8. 2026-06-09
   days on market $325,000 Active 12 DOM
9. 2026-06-08
   days on market $325,000 Active 11 DOM
10. 2026-06-07
    days on market $325,000 Active 10 DOM
11. 2026-06-04
    days on market $325,000 Active 7 DOM
12. 2026-06-03
    days on market $325,000 Active 6 DOM
13. 2026-06-02
    days on market $325,000 Active 5 DOM
14. 2026-06-01
    days on market $325,000 Active 4 DOM
15. 2026-05-31
    days on market $325,000 Active 3 DOM
16. 2026-05-29
    listed $325,000 Active 1097-char remark

    Show marketing remark (1097 chars)

    Corner lot ranch home in Brighton! Shady entryway opens to a welcoming and natural light-filled large living room. Kitchen is pristinely maintained, with plenty of cabinet and counter space, views to overlook the living room, and a large pantry with desk space. Original hardwood flooring throughout the bright dining room. Primary bedroom has an ensuite half bath and walk in closet - a luxury for homes of this size. Two additional well-sized bedrooms share a full bathroom with main floor laundry. Unfinished basement is your blank canvas for a multitude of storage, or to be finished as a home gym or added living space! Attached side entry two car garage - a rare commodity for this neighborhood! Set on a large corner lot, the fenced backyard is a great space to let little ones and furry friends roam free while watching from the comfort of the shaded covered patio. Hope on your bikes and venture to nearby neighborhood Veteran's Park or Downtown Brighton just a few blocks away. Take advantage of a great ranch home and build your equity in growing Brighton - schedule your showing today!

17. 2026-05-29
    listed $325,000 Active

    Show marketing remark (1097 chars)

    Corner lot ranch home in Brighton! Shady entryway opens to a welcoming and natural light-filled large living room. Kitchen is pristinely maintained, with plenty of cabinet and counter space, views to overlook the living room, and a large pantry with desk space. Original hardwood flooring throughout the bright dining room. Primary bedroom has an ensuite half bath and walk in closet - a luxury for homes of this size. Two additional well-sized bedrooms share a full bathroom with main floor laundry. Unfinished basement is your blank canvas for a multitude of storage, or to be finished as a home gym or added living space! Attached side entry two car garage - a rare commodity for this neighborhood! Set on a large corner lot, the fenced backyard is a great space to let little ones and furry friends roam free while watching from the comfort of the shaded covered patio. Hope on your bikes and venture to nearby neighborhood Veteran's Park or Downtown Brighton just a few blocks away. Take advantage of a great ranch home and build your equity in growing Brighton - schedule your showing today!

18. 2026-05-27
    historical $325,000 1097-char remark

    Show marketing remark (1097 chars)

    Corner lot ranch home in Brighton! Shady entryway opens to a welcoming and natural light-filled large living room. Kitchen is pristinely maintained, with plenty of cabinet and counter space, views to overlook the living room, and a large pantry with desk space. Original hardwood flooring throughout the bright dining room. Primary bedroom has an ensuite half bath and walk in closet - a luxury for homes of this size. Two additional well-sized bedrooms share a full bathroom with main floor laundry. Unfinished basement is your blank canvas for a multitude of storage, or to be finished as a home gym or added living space! Attached side entry two car garage - a rare commodity for this neighborhood! Set on a large corner lot, the fenced backyard is a great space to let little ones and furry friends roam free while watching from the comfort of the shaded covered patio. Hope on your bikes and venture to nearby neighborhood Veteran's Park or Downtown Brighton just a few blocks away. Take advantage of a great ranch home and build your equity in growing Brighton - schedule your showing today!

19. 2021-06-02
    soldstatus $242,000 Sold 494-char remark

    Show marketing remark (494 chars)

    Just what you've been waiting for! Beautiful 3 bedroom ranch in Brighton with an attached garage, fenced yard and many updates! The pictures speak for themselves but some of the features you'll find are; furnace and AC replaced 2011 and serviced yearly since, new water heater 2020, plumbing updates 2020, updated bath and shower surround 2020, new carpet 2020, painted 2021. You'll enjoy close proximity to shopping, schools, dining and freeways. Added bonus, wifi enabled garage door opener.

20. 2021-06-02
    soldstatus $242,000 Closed

    Show marketing remark (494 chars)

    Just what you've been waiting for! Beautiful 3 bedroom ranch in Brighton with an attached garage, fenced yard and many updates! The pictures speak for themselves but some of the features you'll find are; furnace and AC replaced 2011 and serviced yearly since, new water heater 2020, plumbing updates 2020, updated bath and shower surround 2020, new carpet 2020, painted 2021. You'll enjoy close proximity to shopping, schools, dining and freeways. Added bonus, wifi enabled garage door opener.

21. 2021-05-06
    soldstatus $242,000
22. 2021-04-01
    status Pending

    Show marketing remark (494 chars)

    Just what you've been waiting for! Beautiful 3 bedroom ranch in Brighton with an attached garage, fenced yard and many updates! The pictures speak for themselves but some of the features you'll find are; furnace and AC replaced 2011 and serviced yearly since, new water heater 2020, plumbing updates 2020, updated bath and shower surround 2020, new carpet 2020, painted 2021. You'll enjoy close proximity to shopping, schools, dining and freeways. Added bonus, wifi enabled garage door opener.

23. 2021-04-01
    status Pending 494-char remark

    Show marketing remark (494 chars)

    Just what you've been waiting for! Beautiful 3 bedroom ranch in Brighton with an attached garage, fenced yard and many updates! The pictures speak for themselves but some of the features you'll find are; furnace and AC replaced 2011 and serviced yearly since, new water heater 2020, plumbing updates 2020, updated bath and shower surround 2020, new carpet 2020, painted 2021. You'll enjoy close proximity to shopping, schools, dining and freeways. Added bonus, wifi enabled garage door opener.

24. 2021-03-31
    listed $235,000 Active

    Show marketing remark (494 chars)

    Just what you've been waiting for! Beautiful 3 bedroom ranch in Brighton with an attached garage, fenced yard and many updates! The pictures speak for themselves but some of the features you'll find are; furnace and AC replaced 2011 and serviced yearly since, new water heater 2020, plumbing updates 2020, updated bath and shower surround 2020, new carpet 2020, painted 2021. You'll enjoy close proximity to shopping, schools, dining and freeways. Added bonus, wifi enabled garage door opener.

25. 2021-03-31
    listed $235,000 Active 494-char remark

    Show marketing remark (494 chars)

    Just what you've been waiting for! Beautiful 3 bedroom ranch in Brighton with an attached garage, fenced yard and many updates! The pictures speak for themselves but some of the features you'll find are; furnace and AC replaced 2011 and serviced yearly since, new water heater 2020, plumbing updates 2020, updated bath and shower surround 2020, new carpet 2020, painted 2021. You'll enjoy close proximity to shopping, schools, dining and freeways. Added bonus, wifi enabled garage door opener.

26. 2021-03-29
    historical $235,000

    Show marketing remark (494 chars)

    Just what you've been waiting for! Beautiful 3 bedroom ranch in Brighton with an attached garage, fenced yard and many updates! The pictures speak for themselves but some of the features you'll find are; furnace and AC replaced 2011 and serviced yearly since, new water heater 2020, plumbing updates 2020, updated bath and shower surround 2020, new carpet 2020, painted 2021. You'll enjoy close proximity to shopping, schools, dining and freeways. Added bonus, wifi enabled garage door opener.

27. 2021-03-29
    historical $235,000 494-char remark

    Show marketing remark (494 chars)

    Just what you've been waiting for! Beautiful 3 bedroom ranch in Brighton with an attached garage, fenced yard and many updates! The pictures speak for themselves but some of the features you'll find are; furnace and AC replaced 2011 and serviced yearly since, new water heater 2020, plumbing updates 2020, updated bath and shower surround 2020, new carpet 2020, painted 2021. You'll enjoy close proximity to shopping, schools, dining and freeways. Added bonus, wifi enabled garage door opener.

28. 2008-10-17
    soldstatus $154,250
29. 2008-10-10
    soldstatus $154,250
30. 2008-03-21
    listed $149,900
31. 1991-11-06
    soldstatus $75,000

ⓘ 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: $2,742 · $228/mo
• Projected year-2 tax: $3,796 · $316/mo
• Expected delta: +$1,055/yr (+$88/mo · 38.5%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,637
• − Mortgage interest: −$17,645
• − Property taxes: −$2,742
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,851
• − Management: −$2,851
• − Depreciation: −$9,164
• Taxable loss: −$1,190
• Est. tax savings @ 24.0%: +$286
• After-tax cash flow: $4,299/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: Brighton Area Schools
• NCES district ID: 2606870
• Math proficiency: 59% ▼ -3.00%
• Reading proficiency: 69% ▼ -2.00%
• Median HH income: $84,114
• Composite: 57.62/100
• National rank: #1062
• State rank: #22 of 540 in MI

Livability — Brighton

• Score: 78/100
• State rank: #108
• US rank: #2621

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Livingston County · 121,626 people
• City population: 27,289
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 27,289
• Household income: $106,763
• Rent vs Own: 14.7% rent · 85.3% own
• Severe rent burden: 495.0

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 202,920 people
• By 2030: 209,173 · +3.1%
• By 2040: 216,878 · +6.9%
• By 2050: 217,485 · +7.2%
• By 2075: 217,590 · +7.2%
• By 2100: 197,095 · -2.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 12% Italian 6% Lithuanian 4%
• Foreign-born: 4% · Canada, China
• Languages at home: 96% English-only · Other Indo-European 1% German/W. Germanic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Livingston

• 2024 margin: Strong R (+23.9) · D 37.4% · R 61.3% · Other 1.3%
• 2008→2024 swing: -10.7pp toward R · 2008: -13.3pp · 2024: -23.9pp
• All cycles: 2024: R+23.9 2020: R+22.6 2016: R+29.6 2012: R+23.3 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -300.62%
• Current HPI: 183.6902
• Rent YoY: —
• 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

+333.3% since first listed

16 events — show timeline

• 2026-05-29 Listed $325,000 MiRealSource-MiMLS
• 2026-05-29 Listed $325,000 REALCOMP
• 2026-05-27 Coming Soon $325,000 MiRealSource-MiMLS
• 2021-06-02 Sold (MLS) $242,000 MiRealSource-MiMLS
• 2021-06-02 Sold (MLS) $242,000 REALCOMP
• 2021-05-06 Sold (Public Records) $242,000 Public Records
• 2021-04-01 Pending — MiRealSource-MiMLS
• 2021-04-01 Pending — REALCOMP
• 2021-03-31 Listed $235,000 MiRealSource-MiMLS
• 2021-03-31 Listed $235,000 REALCOMP
• 2021-03-29 Coming Soon $235,000 MiRealSource-MiMLS
• 2021-03-29 Coming Soon $235,000 REALCOMP
• 2008-10-17 Sold (Public Records) $154,250 Public Records
• 2008-10-10 Sold (MLS) $154,250 REALCOMP
• 2008-03-21 Listed $149,900 REALCOMP
• 1991-11-06 Sold (Public Records) $75,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $2,742 · -11.9% YoY. Source: county tax records.