28467 Florence St · Garden City, MI 48135

$220,000

3 bd · 1.0 ba · 958 sqft · SingleFamily public records · 11 Days on market

Built 1955 6,970 sqft lot Est $171k · 29% over

---

Why this score? — see what drove the F 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 +7.2/30.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

The moment you walk into this home, it's easy to picture yourself settling in and making it your own. Natural light fills the main living space and the hardwood floors give it a solid, comfortable feel people love. The kitchen's already been updated, so your focus stays on how you'll use it day to day instead of what needs to be done. The bedrooms and main bath are all right there off the main living space, so everything you need is on one level. The finished basement opens up into a big, flexible space with its own full bath, giving you options for how you want to use it. Out back, the fenced yard and covered deck are ready for quiet nights or having people over without needing to change a thing. And the big updates are already behind you, including a newer roof from 2022, along with updated windows and hot water heater.

Key facts

• 6,970 sq ft lot
• 2 garage spots
• Built 1955

Property features AI

Exterior

• Parking: Detached garage; Approximately 2.5 garage spaces
• Utilities: Public water; Natural gas water heater
• Home design: Ranch-style single family home; One story
• Construction: Built in 1955; Brick and vinyl siding; Asphalt shingle roof
• Exterior features: Sidewalk; Paved road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Freezer
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Eat-in kitchen; Bay/Bow windows; Full basement; Seven total rooms
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-299 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (24.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (27.6% below list).
• Recommended offer: $159k (27.6% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 5.8% in Garden City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 82/100 on livability (#53 in MI, #1,047 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, commute A; Watch: employment C-, schools D-.
• Garden City Public Schools (suburban): math 22% / reading 36% proficiency, ranked #365 of 540 in MI (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.6%/yr); 134 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 22y 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 $177k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,361 (27.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.72% ✗
• Cap rate: 4.66%
• Cash-on-cash: -5.83%
• DSCR: 0.74
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $170,524
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28513 Barton St	0.19mi	3/2.0	915 (-4%)	4mo	$241,000	$263	77
28969 Sheridan St	0.27mi	3/1.5	1,002 (+5%)	3mo	$242,000	$242	75
28999 Beechnut St	0.41mi	3/1.0	1,008 (+5%)	0mo	$180,000	$179	72
431 Lytle Pl	0.58mi	3/1.0	967 (+1%)	1mo	$153,600	$159	71
28999 Beechnut St	0.41mi	3/1.0	1,008 (+5%)	3mo	$86,500	$86	70
29455 Rosslyn Ave	0.49mi	3/1.0	1,010 (+5%)	0mo	$180,000	$178	68
1147 Harrison Ave	0.31mi	3/1.0	1,065 (+11%)	0mo	$187,000	$176	67
28930 Birchwood St	0.63mi	3/1.0	1,008 (+5%)	0mo	$150,000	$149	61
1843 Lathers St	0.64mi	2/1.0 (-1)	978 (+2%)	1mo	$179,000	$183	61
29725 Brown Ct	0.69mi	3/1.0	925 (-3%)	1mo	$185,000	$200	61
2019 Helen St	0.71mi	3/1.0	934 (-2%)	4mo	$158,000	$169	59
29487 Florence St	0.52mi	2/1.0 (-1)	855 (-11%)	4mo	$140,000	$164	49

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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: -25.5%
• Equity multiple: 0.13×
• Total profit: $-53,619
• Equity at exit: $32,803

10-year hold

• IRR: -19.9%
• Equity multiple: -0.08×
• Total profit: $-66,686
• Equity at exit: $19,022

Cash invested: $61,600 (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 48135

• Rents YoY: 3.6%
• Active inventory: 134
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,594 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$313 /mo · $3,755/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-299

Break-even live

Break-even rent $1,973

Max offer price $167,120

Occupancy floor —

Sensitivity live

Price	-10% $-175	-5% $-237	+0% $-299	+5% $-362	+10% $-424
Rent	-10% $-425	-5% $-362	+0% $-299	+5% $-236	+10% $-173
Rate	-1.0pp $-189	-0.5pp $-243	base $-299	+0.5pp $-356	+1.0pp $-414

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
536 N Leona Ave Garden City, MI	3.0	1.0	1000	$1,440	$1.44	13d	1	0.70mi
238 Yorkshire Blvd Dearborn Heights, MI	1.0–2.0	1.0	741	$1,424	$1.92	2d	9	0.72mi
1150 Magnolia Dr Inkster, MI	3.0	1.0	900	$1,300	$1.44	24d	1	0.86mi
29203 Oakwood St Inkster, MI	3.0	1.5	912	$1,600	$1.75	2d	1	0.90mi
5839 Helen St Garden City, MI	3.0	1.0	984	$1,500	$1.52	24d	1	0.94mi
5927 Lathers St Garden City, MI	3.0	1.0	1000	$1,600	$1.60	2d	1	0.97mi
29800 Oakwood St Inkster, MI	3.0	1.0	1040	$1,400	$1.35	13d	1	1.01mi
30043 Grandview St Unit 1 Inkster, MI	3.0	1.5	1004	$1,275	$1.27	44d	1	1.05mi
130 E Tami Cir Westland, MI	1.0–2.0	1.0–1.5	800	$1,209	$1.51	44d	3	1.06mi
27184 Lucerne Dr Inkster, MI	3.0	1.0	1100	$1,250	$1.14	44d	1	1.08mi
30520 Hiveley St Westland, MI	3.0	1.0	1105	$1,700	$1.54	22d	1	1.12mi
30010 Hazelwood St Inkster, MI	3.0	1.0	1044	$1,300	$1.25	44d	1	1.18mi
26322 Westphal St Dearborn Heights, MI	1.0–2.0	1.0	762	$1,455	$1.91	2d	24	1.23mi
31217 Cherry Hill Rd Westland, MI	3.0	1.0	1100	$1,800	$1.64	4d	1	1.34mi
167 Cherry Valley Dr Inkster, MI	1.0–2.0	1.0	784	$1,395	$1.78	15d	12	1.40mi

Listing history 32 events

1. 2026-05-12
   status Pending 833-char remark

   Show marketing remark (833 chars)

   The moment you walk into this home, it's easy to picture yourself settling in and making it your own. Natural light fills the main living space and the hardwood floors give it a solid, comfortable feel people love. The kitchen's already been updated, so your focus stays on how you'll use it day to day instead of what needs to be done. The bedrooms and main bath are all right there off the main living space, so everything you need is on one level. The finished basement opens up into a big, flexible space with its own full bath, giving you options for how you want to use it. Out back, the fenced yard and covered deck are ready for quiet nights or having people over without needing to change a thing. And the big updates are already behind you, including a newer roof from 2022, along with updated windows and hot water heater.

2. 2026-05-12
   status Pending 833-char remark

   Show marketing remark (833 chars)

   The moment you walk into this home, it's easy to picture yourself settling in and making it your own. Natural light fills the main living space and the hardwood floors give it a solid, comfortable feel people love. The kitchen's already been updated, so your focus stays on how you'll use it day to day instead of what needs to be done. The bedrooms and main bath are all right there off the main living space, so everything you need is on one level. The finished basement opens up into a big, flexible space with its own full bath, giving you options for how you want to use it. Out back, the fenced yard and covered deck are ready for quiet nights or having people over without needing to change a thing. And the big updates are already behind you, including a newer roof from 2022, along with updated windows and hot water heater.

3. 2026-05-12
   status Pending

   Show marketing remark (833 chars)

   The moment you walk into this home, it's easy to picture yourself settling in and making it your own. Natural light fills the main living space and the hardwood floors give it a solid, comfortable feel people love. The kitchen's already been updated, so your focus stays on how you'll use it day to day instead of what needs to be done. The bedrooms and main bath are all right there off the main living space, so everything you need is on one level. The finished basement opens up into a big, flexible space with its own full bath, giving you options for how you want to use it. Out back, the fenced yard and covered deck are ready for quiet nights or having people over without needing to change a thing. And the big updates are already behind you, including a newer roof from 2022, along with updated windows and hot water heater.

4. 2026-05-01
   listed $220,000 Active 833-char remark

   Show marketing remark (833 chars)

   The moment you walk into this home, it's easy to picture yourself settling in and making it your own. Natural light fills the main living space and the hardwood floors give it a solid, comfortable feel people love. The kitchen's already been updated, so your focus stays on how you'll use it day to day instead of what needs to be done. The bedrooms and main bath are all right there off the main living space, so everything you need is on one level. The finished basement opens up into a big, flexible space with its own full bath, giving you options for how you want to use it. Out back, the fenced yard and covered deck are ready for quiet nights or having people over without needing to change a thing. And the big updates are already behind you, including a newer roof from 2022, along with updated windows and hot water heater.

5. 2026-05-01
   listed $220,000 Active

   Show marketing remark (833 chars)

   The moment you walk into this home, it's easy to picture yourself settling in and making it your own. Natural light fills the main living space and the hardwood floors give it a solid, comfortable feel people love. The kitchen's already been updated, so your focus stays on how you'll use it day to day instead of what needs to be done. The bedrooms and main bath are all right there off the main living space, so everything you need is on one level. The finished basement opens up into a big, flexible space with its own full bath, giving you options for how you want to use it. Out back, the fenced yard and covered deck are ready for quiet nights or having people over without needing to change a thing. And the big updates are already behind you, including a newer roof from 2022, along with updated windows and hot water heater.

6. 2026-05-01
   listed $220,000 Active 833-char remark

   Show marketing remark (833 chars)

   The moment you walk into this home, it's easy to picture yourself settling in and making it your own. Natural light fills the main living space and the hardwood floors give it a solid, comfortable feel people love. The kitchen's already been updated, so your focus stays on how you'll use it day to day instead of what needs to be done. The bedrooms and main bath are all right there off the main living space, so everything you need is on one level. The finished basement opens up into a big, flexible space with its own full bath, giving you options for how you want to use it. Out back, the fenced yard and covered deck are ready for quiet nights or having people over without needing to change a thing. And the big updates are already behind you, including a newer roof from 2022, along with updated windows and hot water heater.

7. 2026-04-30
   historical $220,000 833-char remark

   Show marketing remark (833 chars)

   The moment you walk into this home, it's easy to picture yourself settling in and making it your own. Natural light fills the main living space and the hardwood floors give it a solid, comfortable feel people love. The kitchen's already been updated, so your focus stays on how you'll use it day to day instead of what needs to be done. The bedrooms and main bath are all right there off the main living space, so everything you need is on one level. The finished basement opens up into a big, flexible space with its own full bath, giving you options for how you want to use it. Out back, the fenced yard and covered deck are ready for quiet nights or having people over without needing to change a thing. And the big updates are already behind you, including a newer roof from 2022, along with updated windows and hot water heater.

8. 2026-04-30
   historical $220,000

   Show marketing remark (833 chars)

   The moment you walk into this home, it's easy to picture yourself settling in and making it your own. Natural light fills the main living space and the hardwood floors give it a solid, comfortable feel people love. The kitchen's already been updated, so your focus stays on how you'll use it day to day instead of what needs to be done. The bedrooms and main bath are all right there off the main living space, so everything you need is on one level. The finished basement opens up into a big, flexible space with its own full bath, giving you options for how you want to use it. Out back, the fenced yard and covered deck are ready for quiet nights or having people over without needing to change a thing. And the big updates are already behind you, including a newer roof from 2022, along with updated windows and hot water heater.

9. 2021-08-25
   soldstatus $177,000
10. 2021-08-20
    soldstatus $177,000 Sold
11. 2021-08-20
    soldstatus $177,000 Closed
12. 2021-07-28
    status Pending
13. 2021-07-28
    status Pending
14. 2021-07-21
    historical Accepting Backup Offers
15. 2021-07-21
    historical Accepting Backup Offers
16. 2021-07-17
    listed $167,000 Active
17. 2021-07-17
    listed $167,000 Active
18. 2021-07-14
    historical $167,000
19. 2021-07-14
    historical $167,000
20. 2017-12-14
    soldstatus $118,347
21. 2017-12-08
    soldstatus $118,347 Sold
22. 2017-12-08
    soldstatus $118,347 Closed
23. 2017-10-25
    status Pending
24. 2017-10-25
    status Pending
25. 2017-10-20
    listed $114,900 Active
26. 2017-10-20
    listed $114,900 Active
27. 2010-08-05
    soldstatus $50,000
28. 2010-07-29
    soldstatus $50,000
29. 2009-11-18
    listed $79,900
30. 2005-09-29
    soldstatus $148,900
31. 2004-12-17
    soldstatus $148,900
32. 2004-11-24
    listed $146,900

ⓘ 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: $3,755 · $313/mo
• Projected year-2 tax: $3,755 · $313/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥98°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: $19,123
• − Mortgage interest: −$12,323
• − Property taxes: −$3,755
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,530
• − Management: −$1,530
• − Depreciation: −$6,400
• Taxable loss: −$7,515
• Est. tax savings @ 24.0%: +$1,804
• After-tax cash flow: $-1,789/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: Garden City Public Schools
• NCES district ID: 2615540
• Math proficiency: 22% ▼ -11.00%
• Reading proficiency: 36% ▼ -13.00%
• Median HH income: $52,165
• Composite: 25.53/100
• National rank: #7433
• State rank: #365 of 540 in MI

Livability — Garden City

• Score: 82/100
• State rank: #53
• US rank: #1047

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garden City, MI
• County: Wayne County · 1,562,939 people
• City population: 26,739
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 26,739
• Household income: $67,294
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 509.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Black 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 13% Italian 4% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Arabic 3% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -265.28%
• Current HPI: 212.5713
• Rent YoY: ▲ 3.65%
• 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

+49.8% since first listed

32 events — show timeline

• 2026-05-12 Pending — REALCOMP
• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — SW Michigan MLS
• 2026-05-01 Listed $220,000 REALCOMP
• 2026-05-01 Listed $220,000 SW Michigan MLS
• 2026-05-01 Listed $220,000 MiRealSource-MiMLS
• 2026-04-30 Coming Soon $220,000 MiRealSource-MiMLS
• 2026-04-30 Coming Soon $220,000 SW Michigan MLS
• 2021-08-25 Sold (Public Records) $177,000 Public Records
• 2021-08-20 Sold (MLS) $177,000 MiRealSource-MiMLS
• 2021-08-20 Sold (MLS) $177,000 REALCOMP
• 2021-07-28 Pending — MiRealSource-MiMLS
• 2021-07-28 Pending — REALCOMP
• 2021-07-21 Contingent — MiRealSource-MiMLS
• 2021-07-21 Contingent — REALCOMP
• 2021-07-17 Listed $167,000 MiRealSource-MiMLS
• 2021-07-17 Listed $167,000 REALCOMP
• 2021-07-14 Coming Soon $167,000 MiRealSource-MiMLS
• 2021-07-14 Coming Soon $167,000 REALCOMP
• 2017-12-14 Sold (Public Records) $118,347 Public Records
• 2017-12-08 Sold (MLS) $118,347 MiRealSource-MiMLS
• 2017-12-08 Sold (MLS) $118,347 REALCOMP
• 2017-10-25 Pending — MiRealSource-MiMLS
• 2017-10-25 Pending — REALCOMP
• 2017-10-20 Listed $114,900 MiRealSource-MiMLS
• 2017-10-20 Listed $114,900 REALCOMP
• 2010-08-05 Sold (Public Records) $50,000 Public Records
• 2010-07-29 Sold (MLS) $50,000 REALCOMP
• 2009-11-18 Listed $79,900 REALCOMP
• 2005-09-29 Sold (Public Records) $148,900 Public Records
• 2004-12-17 Sold (MLS) $148,900 REALCOMP
• 2004-11-24 Listed $146,900 REALCOMP

Property tax history

+6.5%/yr

Latest (2025): $3,755 · -11.4% YoY. Source: county tax records.