Disclosed are methods and systems for calculating a contrast reagent (CR) extravasation rate constant and generating a contrast reagent leakage corrected relative cerebral blood volume (rCBV) image map of a brain region from dynamic susceptibility contrast (DSC) magnetic resonance imaging (MRI) time-course image data based on pharmacokinetic first principles. In one example approach, a computerized method may include performing a linearization transform of a DSC MRI time-course equation which accounts for an intravascular contribution and an extravasating component, and calculating CR leakage from a slope of a linear portion of the transformed data.