7616-773P The Pulse Plan · Leslie, MI 49251

$99,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 822 Days on market

Fair condition $82/sqft · 17% above area Est $86k · 17% over

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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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This brand-new construction offers modern comfort and style. With 3 bedrooms and 2 bathrooms, this home is perfect for creating lasting memories with your loved ones. As you step inside, you're greeted by an inviting open-concept floor plan, perfect for entertaining guests or simply relaxing with family. The kitchen boasts stainless steel appliances, a convenient breakfast bar, and ample cabinetry for all your storage needs. Outside, a charming front porch welcomes you home, offering a cozy spot to enjoy your morning coffee or watch the sunset.

Key facts

• Listed 821 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.9% 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: schools C-, employment D+, amenities 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.
• Market conditions: 38 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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 822 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 822 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.32% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.06%
• DSCR: 1.67
• GRM: 6.3

CMA / ARV

• ARV (median comp): $85,576
• List price: $99,900
• Delta: 16.74%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
714 Mill St #3	0.13mi	3/2.0	1,216 (0%)	14mo	$59,900	$49	82

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: 5.7%
• Equity multiple: 1.22×
• Total profit: $6,191
• Equity at exit: $14,895

10-year hold

• IRR: 15.1%
• Equity multiple: 2.22×
• Total profit: $34,263
• Equity at exit: $8,638

Cash invested: $27,972 (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: 38
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,318 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $351

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 68%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $99,900 Active 822 DOM
2. 2026-06-17
   days on market $99,900 Active 821 DOM
3. 2026-06-16
   days on market $99,900 Active 820 DOM
4. 2026-06-15
   days on market $99,900 Active 819 DOM
5. 2026-06-13
   days on market $99,900 Active 817 DOM
6. 2026-06-12
   days on market $99,900 Active 816 DOM
7. 2026-06-09
   days on market $99,900 Active 813 DOM
8. 2026-06-08
   days on market $99,900 Active 812 DOM
9. 2026-06-07
   days on market $99,900 Active 811 DOM
10. 2026-06-07
    days on market $99,900 Active 810 DOM
11. 2026-06-04
    days on market $99,900 Active 807 DOM
12. 2026-06-02
    days on market $99,900 Active 806 DOM
13. 2026-06-01
    days on market $99,900 Active 805 DOM
14. 2026-05-31
    days on market $99,900 Active 804 DOM
15. 2026-05-31
    days on market $99,900 Active 803 DOM
16. 2024-03-18
    listed $99,900 Active 550-char remark

    Show marketing remark (550 chars)

    This brand-new construction offers modern comfort and style. With 3 bedrooms and 2 bathrooms, this home is perfect for creating lasting memories with your loved ones. As you step inside, you're greeted by an inviting open-concept floor plan, perfect for entertaining guests or simply relaxing with family. The kitchen boasts stainless steel appliances, a convenient breakfast bar, and ample cabinetry for all your storage needs. Outside, a charming front porch welcomes you home, offering a cozy spot to enjoy your morning coffee or watch the sunset.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $15,819
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$2,906
• Taxable income: $2,788
• Est. tax owed @ 24.0%: −$669
• After-tax cash flow: $3,544/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.

Condition & rehab AI · 6 photos

Fair 45/100 Moderate rehab

The home requires moderate renovations, focusing on replacing worn carpet and painting interior walls. Upgrades to the kitchen and bathrooms, along with landscaping, can significantly increase its value.

Repairs flagged

• Major Carpet — Severe wear and dirt accumulation.
• Minor Paint — Slight fading, could be refreshed with a fresh coat.

Value-add opportunities

• Resale Replace carpet with new flooring — Fresh carpet enhances curb appeal and interior aesthetics.
• Resale Paint interior walls — Fresh paint improves the home's appearance and can make it more appealing to potential buyers.
• Rental Install new bathroom fixtures — Modern fixtures can attract renters and improve the home's rental value.
• Resale Upgrade kitchen appliances — Upgraded appliances can increase the home's value and attract more buyers.
• Both Landscaping and curb appeal — A well-maintained exterior can enhance both resale and rental value by making the home more attractive from the outside.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Carpet · Severe wear and dirt accumulation.	Major	$15,000–50,000
Paint · Slight fading, could be refreshed with a fresh coat.	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Resale Replace carpet with new flooring — Fresh carpet enhances curb appeal and interior aesthetics. ↑
• Resale Paint interior walls — Fresh paint improves the home's appearance and can make it more appealing to potential buyers. ↑
• Rental Install new bathroom fixtures — Modern fixtures can attract renters and improve the home's rental value. ↑
• Resale Upgrade kitchen appliances — Upgraded appliances can increase the home's value and attract more buyers. ↑
• Both Landscaping and curb appeal — A well-maintained exterior can enhance both resale and rental value by making the home more attractive from the outside. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Leslie, MI
• 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

1 event — show timeline

• 2024-03-18 Listed $99,900 Zillow