323 S 2nd St · Brighton, MI 48116

$360,000

5 bd · 1.5 ba · 1,804 sqft · SingleFamily public records

Built 1967 8,712 sqft lot Est $352k · at est.

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Why this score? — see what drove the D 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 +14.0/30.0
• ARV discount +6.4/15.0
• Schools +5.8/10.0
• DSCR +4.2/10.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LISTED AND SOLD SAME DAY

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1967

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $43 ($518/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 $303k (15.9% below list).
• Recommended offer: $303k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.4% 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.
• Zoned schools: Hornung Elementary School (math 72% / reading 72%, grade A-, #51 of 1,397 statewide, top 5%, 545 students, 14% FRL); Scranton Middle School (math 56% / reading 71%, grade B+, #42 of 493 statewide, top 8%, 828 students, 16% FRL); Brighton High School (math 54% / reading 75%, grade B-, #46 of 713 statewide, top 7%, 1,961 students, 13% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: 181 active listings in the ZIP; solid renter incomes; 488 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% 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 $11k 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

• Only 0 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.

Recommended offer $302,623 (15.9% below list)

Questions for the listing agent

1. Built in 1967 — 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. 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?
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: 0.84% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.51%
• DSCR: 1.02
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $351,780
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
323 S 2nd St	0.00mi	5/1.5	1,804 (0%)	0mo	$360,000	$200	100
224 S 2nd St	0.09mi	4/3.0 (-1)	1,895 (+5%)	4mo	$370,000	$195	73
217 N 5th St	0.37mi	4/2.0 (-1)	1,898 (+5%)	1mo	$323,700	$171	66

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: -15.5%
• Equity multiple: 0.45×
• Total profit: $-55,626
• Equity at exit: $53,677

10-year hold

• IRR: -7.0%
• Equity multiple: 0.55×
• Total profit: $-45,062
• Equity at exit: $31,126

Cash invested: $100,800 (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: 181
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $3,026 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$310 /mo · $3,716/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$636
• Net cashflow: $43

Break-even live

Break-even rent $2,972

Max offer price $360,000

Occupancy floor 94%

Sensitivity live

Price	-10% $247	-5% $145	+0% $43	+5% $-59	+10% $-161
Rent	-10% $-196	-5% $-76	+0% $43	+5% $163	+10% $282
Rate	-1.0pp $224	-0.5pp $135	base $43	+0.5pp $-50	+1.0pp $-145

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-21
   listed $360,000

   Show marketing remark (24 chars)

   LISTED AND SOLD SAME DAY

2. 2026-04-21
   historical

   Show marketing remark (24 chars)

   LISTED AND SOLD SAME DAY

3. 2026-04-21
   listed $360,000 24-char remark

   Show marketing remark (24 chars)

   LISTED AND SOLD SAME DAY

4. 2026-04-21
   historical 24-char remark

   Show marketing remark (24 chars)

   LISTED AND SOLD SAME DAY

ⓘ 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: $3,716 · $310/mo
• Projected year-2 tax: $4,630 · $386/mo
• Expected delta: +$914/yr (+$76/mo · 24.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $36,315
• − Mortgage interest: −$20,166
• − Property taxes: −$3,716
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,905
• − Management: −$2,905
• − Depreciation: −$10,473
• Taxable loss: −$5,650
• Est. tax savings @ 24.0%: +$1,356
• After-tax cash flow: $1,874/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

• Census place: Brighton, MI
• 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

+0.0% since first listed

4 events — show timeline

• 2026-04-21 Listing Removed — MiRealSource-MiMLS
• 2026-04-21 Listed $360,000 MiRealSource-MiMLS
• 2026-04-21 Listing Removed — REALCOMP
• 2026-04-21 Listed $360,000 REALCOMP

Property tax history

+2.3%/yr

Latest (2025): $3,716 · -5.5% YoY. Source: county tax records.