Real Estate Investing in Leonard, Michigan (48367)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 48367 (Leonard, MI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 34.8 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Leonard, MI (48367)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 48367 Leonard
Not every below-median market is a bargain. Leonard's 48367 ZIP clocks in at signals that favor experienced operators who can absorb the risk $515K pricing implies.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 48367 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
In the broader MI picture, 48367 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 48367 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 48367 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Leonard:
Property Strategy for 48367
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $276,624 | $1,370 | 3.6% | +5.0% | $138,312 |
| 3BR | $465,884 | $1,670 | 2.6% | +6.5% | $155,295 |
| 4BR | $582,340 | $1,810 | 2.2% | +7.0% | $145,585 |
Market Trends
Home Value History (with trend line)
📊 How Does 48367 Compare?
| Metric | 48367 | Leonard | Detroit-Warren-Dearborn, MI | Michigan |
|---|---|---|---|---|
| Home Value | $514,941 | $544,871 | N/A | $253,279 |
| 5-Year CAGR | 5.2% | 5.1% | N/A | 6.8% |
| Avg Rent | $1,233 | $1,242 | N/A | - |
| Cap Rate | 1.9% | 1.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 48367 (Leonard, MI). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 48367 (Leonard, MI)?
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Property managers serving Oakland County
Manage rentals here? List your business →Symmetry Management specializes in commercial real estate management. summary from their website
Beacon Management offers property management services for various communities and properties across Michigan, including Ann Arbor, Auburn Hills, Bloomfield Hills, Canton, and Southfield. summary from their website
Great Day Realty is a real estate company. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $514,941 |
| Monthly Rent | $1,233 |
| Price-to-Rent | 34.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +7.7% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +5.2% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 48367
Population: 4,548
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 48367
Schools in This ZIP Code
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
Kingsbury Country Day School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 7,973 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What do rentals go for in Leonard, MI?
Rental rates in Leonard, MI average $1,233/mo. Tenant demand and $515K home values make the yield look reasonable by investor standards.
How landlord-friendly is Leonard, MI?
The landlord environment in Leonard, MI is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Is housing expensive in Leonard, MI?
Leonard, MI median home values land near $515K. That is reasonable territory for investors looking at $1,233/mo-per-month rentals.
How does Leonard, MI stack up for property investment?
Leonard, MI comes in at an investability rating of 3.0/5, with median home values near $515K and average rents around $1,233/mo. That combination puts it in the robust tier for investor interest.
What real estate strategy is ideal for Leonard, MI?
For Leonard, MI, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 48367 now. You don’t know where it ranks.
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How 48367 ranks in Detroit-Warren-Dearborn, MI
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