5821 Felske Dr · Brighton, MI 48116

$194,900

3 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 4 Days on market

Built 1954 0.31 ac lot Est $281k · 31% under ↓ 2% since listing

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Why this score? — see what drove the B 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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +6.1/10.0
• Schools +5.8/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * INVESTOR SPECIAL * * * 1200 SQUARE FOOT 3 BEDROOM 1 FULL BATH RANCH WITH BASEMENT * HARDWOOD FLOORS * STONE FIREPLACE IN LIVING ROOM * NEW EXTERIOR DOORS * 15X10 DECK LEADS TO FENCED-IN YARD WITH 12X8 SHED * GREAT NEIGHBORHOOD WITH BEACH & LAKE PRIVILEGES ON ALL SPORTS FONDA LAKE * GREAT ACCESS TO ALL FREEWAYS * GREAT BRIGHTON LOCATION * BRIGHTON SCHOOLS!

Key facts

• Shed
• New exterior doors
• Deck

Tags

• HARDWOOD FLOORS
• STONE FIREPLACE
• NEW EXTERIOR DOORS
• DECK
• FENCED-IN YARD
• SHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $502 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Cap rate 9.4% 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.
• Market conditions: 178 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 488 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,900

Questions for the listing agent

1. Built in 1954 — 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. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.04%
• DSCR: 1.49
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $280,800
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6074 Three Lakes Dr	0.25mi	3/1.0	1,176 (-2%)	9mo	$270,000	$230	77
10584 Kenrich Dr	0.10mi	3/2.0	1,108 (-8%)	6mo	$260,000	$235	73
5905 Fonda Lake Dr	0.16mi	2/1.0 (-1)	1,268 (+6%)	10mo	$265,000	$209	70
6332 Superior Dr	0.38mi	2/1.0 (-1)	1,240 (+3%)	3mo	$290,500	$234	69
10460 Kenrich Dr	0.16mi	3/1.5	1,348 (+12%)	20mo	$250,000	$185	54
6560 Lowell (linville) Dr	0.63mi	3/2.5	1,200 (0%)	20mo	$235,000	$196	48
6372 Island Lake Dr	0.45mi	2/1.0 (-1)	1,100 (-8%)	24mo	$300,000	$273	40
6550 Avon Dr	0.67mi	3/1.5	1,344 (+12%)	8mo	$345,000	$257	40

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $341
• Equity at exit: $29,060

10-year hold

• IRR: 9.8%
• Equity multiple: 1.76×
• Total profit: $41,253
• Equity at exit: $16,851

Cash invested: $54,572 (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: 178
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,162 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$102 /mo · $1,230/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $502

Break-even live

Break-even rent $1,526

Max offer price $194,900

Occupancy floor 72%

Sensitivity live

Price	-10% $612	-5% $557	+0% $502	+5% $447	+10% $392
Rent	-10% $331	-5% $417	+0% $502	+5% $587	+10% $673
Rate	-1.0pp $600	-0.5pp $552	base $502	+0.5pp $452	+1.0pp $400

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7175 Bishop Rd Brighton, MI	2.0	1.0	800	$938	$1.17	0d	1	1.39mi

Listing history 11 events

1. 2025-08-06
   soldstatus $196,000
2. 2025-07-23
   status Pending

   Show marketing remark (389 chars)

   * * * INVESTOR SPECIAL * * * 1200 SQUARE FOOT 3 BEDROOM 1 FULL BATH RANCH WITH BASEMENT * HARDWOOD FLOORS * STONE FIREPLACE IN LIVING ROOM * NEW EXTERIOR DOORS * 15X10 DECK LEADS TO FENCED-IN YARD WITH 12X8 SHED * GREAT NEIGHBORHOOD WITH BEACH & LAKE PRIVILEGES ON ALL SPORTS FONDA LAKE * GREAT ACCESS TO ALL FREEWAYS * GREAT BRIGHTON LOCATION * BRIGHTON SCHOOLS!

3. 2025-07-23
   status Pending 389-char remark

   Show marketing remark (389 chars)

   * * * INVESTOR SPECIAL * * * 1200 SQUARE FOOT 3 BEDROOM 1 FULL BATH RANCH WITH BASEMENT * HARDWOOD FLOORS * STONE FIREPLACE IN LIVING ROOM * NEW EXTERIOR DOORS * 15X10 DECK LEADS TO FENCED-IN YARD WITH 12X8 SHED * GREAT NEIGHBORHOOD WITH BEACH & LAKE PRIVILEGES ON ALL SPORTS FONDA LAKE * GREAT ACCESS TO ALL FREEWAYS * GREAT BRIGHTON LOCATION * BRIGHTON SCHOOLS!

4. 2025-07-19
   listed $194,900 Active

   Show marketing remark (389 chars)

   * * * INVESTOR SPECIAL * * * 1200 SQUARE FOOT 3 BEDROOM 1 FULL BATH RANCH WITH BASEMENT * HARDWOOD FLOORS * STONE FIREPLACE IN LIVING ROOM * NEW EXTERIOR DOORS * 15X10 DECK LEADS TO FENCED-IN YARD WITH 12X8 SHED * GREAT NEIGHBORHOOD WITH BEACH & LAKE PRIVILEGES ON ALL SPORTS FONDA LAKE * GREAT ACCESS TO ALL FREEWAYS * GREAT BRIGHTON LOCATION * BRIGHTON SCHOOLS!

5. 2025-07-19
   listed $194,900 Active 389-char remark

   Show marketing remark (389 chars)

   * * * INVESTOR SPECIAL * * * 1200 SQUARE FOOT 3 BEDROOM 1 FULL BATH RANCH WITH BASEMENT * HARDWOOD FLOORS * STONE FIREPLACE IN LIVING ROOM * NEW EXTERIOR DOORS * 15X10 DECK LEADS TO FENCED-IN YARD WITH 12X8 SHED * GREAT NEIGHBORHOOD WITH BEACH & LAKE PRIVILEGES ON ALL SPORTS FONDA LAKE * GREAT ACCESS TO ALL FREEWAYS * GREAT BRIGHTON LOCATION * BRIGHTON SCHOOLS!

6. 2025-05-27
   historical Accepting Backup Offers
7. 2025-05-27
   historical Active Under Contract
8. 2025-05-27
   historical
9. 2025-05-27
   historical
10. 2025-04-17
    listed $199,900 Active
11. 2025-04-17
    listed $199,900 Active

ⓘ 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: $1,230 · $102/mo
• Projected year-2 tax: $2,116 · $176/mo
• Expected delta: +$886/yr (+$74/mo · 72.0%)

ⓘ 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 2/10 Low 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: $25,942
• − Mortgage interest: −$10,917
• − Property taxes: −$1,230
• − Insurance: −$974
• − Repairs & maintenance: −$2,075
• − Management: −$2,075
• − Depreciation: −$5,670
• Taxable income: $3,000
• Est. tax owed @ 24.0%: −$720
• After-tax cash flow: $5,305/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

• 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

-2.0% since first listed

11 events — show timeline

• 2025-08-06 Sold (Public Records) $196,000 Public Records
• 2025-07-23 Pending — REALCOMP
• 2025-07-23 Pending — MiRealSource-MiMLS
• 2025-07-19 Listed $194,900 REALCOMP
• 2025-07-19 Listed $194,900 MiRealSource-MiMLS
• 2025-05-27 Contingent — MiRealSource-MiMLS
• 2025-05-27 Contingent — REALCOMP
• 2025-05-27 Listing Removed — REALCOMP
• 2025-05-27 Listing Removed — MiRealSource-MiMLS
• 2025-04-17 Listed $199,900 REALCOMP
• 2025-04-17 Listed $199,900 MiRealSource-MiMLS

Property tax history

+1.3%/yr

Latest (2025): $1,230 · -11.6% YoY. Source: county tax records.