71597 Penny Ct #240 · Bruce, MI 48065

$39,900

3 bd · 2.0 ba · 1,063 sqft · Condo · 15 Days on market

Built 2018 Good condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-In Ready 2018 Champion Home in Springbrook Estates! Beautifully maintained manufactured home featuring an open-concept layout, spacious kitchen with abundant cabinetry and appliances, large living area, comfortable bedrooms, and 2 full baths. Enjoy a private driveway, storage shed included in sale, and low-maintenance living in the desirable Springbrook Estates community with access to a pool, clubhouse, playground, walking trails, and more. Conveniently located near shopping, dining, and major commuter routes. Lot rent applies; community approval required.

Key facts

• Large living area
• Private driveway
• Spacious kitchen

Tags

• OPEN-CONCEPT LAYOUT
• SPACIOUS KITCHEN
• ABUNDANT CABINETRY
• LARGE LIVING AREA
• PRIVATE DRIVEWAY
• STORAGE SHED

Property features AI

Finance

• HOA & community: Community pool

Exterior

• Parking: Driveway; no garage
• Utilities: Public water; Sewer available
• Home design: Condominium residence; One-level living; Ground-level entry with steps
• Construction: Aluminum siding; Slab foundation; Built as single-story construction
• Exterior features: Paved road access; Pets allowed (cats and dogs)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; No central air
• Interior features: 7 total rooms; Community pool access
• Laundry & utility: Laundry room with electric and gas dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $776 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Romeo Community Schools (suburban): math 43% / reading 51% proficiency, ranked #102 of 540 in MI (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 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 $39,301 (1.5% below list)

Questions for the listing agent

1. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.34% ✓
• Cap rate: 29.62%
• Cash-on-cash: 83.33%
• DSCR: 4.71
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 83.7%
• Equity multiple: 4.85×
• Total profit: $42,963
• Equity at exit: $5,949

10-year hold

• IRR: 86.9%
• Equity multiple: 10.05×
• Total profit: $101,114
• Equity at exit: $3,450

Cash invested: $11,172 (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 48065

• Active inventory: 87
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,331 high
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $776

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 37%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11975 Creekview Ave Unit 218 Bruce Township, MI	2.0	2.0	1120	$1,299	$1.16	43d	1	0.07mi
71580 Penny Ct Unit 253 Bruce Township, MI	3.0	2.0	1216	$1,219	$1.00	14d	1	0.07mi
11981 Springbrook Ct Unit 10 Bruce Township, MI	2.0	2.0	960	$1,269	$1.32	20d	1	0.20mi
11747 Cascade Cir Unit 92 Bruce Township, MI	3.0	2.0	1152	$1,379	$1.20	43d	1	0.21mi
12556 Margaret Ct Unit 287 Bruce Township, MI	3.0	2.0	1152	$1,569	$1.36	4d	1	0.21mi
11791 Cascade Cir Unit 76 Bruce Township, MI	4.0	2.0	1344	$1,409	$1.05	24d	1	0.22mi
11827 Cascade Cir Unit 4 Bruce Township, MI	3.0	2.0	1056	$1,299	$1.23	43d	1	0.33mi
324 E Saint Clair St Romeo, MI	2.0	1.5	1200	$1,550	$1.29	43d	1	1.39mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $39,900 Active 15 DOM
2. 2026-06-17
   days on market $39,900 Active 14 DOM
3. 2026-06-16
   days on market $39,900 Active 13 DOM
4. 2026-06-15
   days on market $39,900 Active 12 DOM
5. 2026-06-13
   days on market $39,900 Active 10 DOM
6. 2026-06-09
   days on market $39,900 Active 6 DOM
7. 2026-06-08
   days on market $39,900 Active 5 DOM
8. 2026-06-07
   days on market $39,900 Active 4 DOM
9. 2026-06-04
   remarks 568-char remark
10. 2026-06-04
    listed $39,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,972
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$1,161
• Taxable income: $9,223
• Est. tax owed @ 24.0%: −$2,213
• After-tax cash flow: $7,096/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This move-in ready 2018 Champion home in Springbrook Estates is in good condition with no major repairs needed. It offers a good return on investment with updates that would increase its resale and rental value.

Value-add opportunities

• Both landscaping — improve curb appeal and increase property value
• Both furniture — improve living space and make home more attractive

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — improve curb appeal and increase property value ↑
• Both furniture — improve living space and make home more attractive ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Romeo Community Schools
• NCES district ID: 2630090
• Math proficiency: 43% ▼ -5.00%
• Reading proficiency: 51% ▼ -8.00%
• Median HH income: $73,121
• Composite: 42.48/100
• National rank: #3212
• State rank: #102 of 540 in MI

Livability — Bruce

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 11,344

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Romanian 14% Lithuanian 4% Slovak 4%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -252.70%
• Current HPI: 214.524
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-06-03 Listed $39,900 REALCOMP
• 2026-06-03 Listed $39,900 MiRealSource-MiMLS