27737 Bock St · Garden City, MI 48135

$130,000

3 bd · 1.0 ba · 925 sqft · SingleFamily public records

Built 1965 8,276 sqft lot Est $169k · 23% under

---

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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +7.6/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Desirable 3 Bedroom Brick Ranch with a large kitchen, open to the living area. Unfinished basement in a great location.

Key facts

• 8,276 sq ft lot
• Built 1965

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 9.9% vs local median 5.8% in Garden City — 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 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; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $899 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1965 — 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 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?
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: 1.26% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.90%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $169,275
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2019 Helen St	0.20mi	3/1.0	934 (+1%)	4mo	$158,000	$169	86
1782 Gilman St	0.17mi	3/1.0	879 (-5%)	7mo	$148,000	$168	78
1843 Lathers St	0.28mi	2/1.0 (-1)	978 (+6%)	1mo	$179,000	$183	72
28513 Barton St	0.48mi	3/2.0	915 (-1%)	4mo	$241,000	$263	68
5643 Gilman St	0.35mi	4/1.0 (+1)	1,000 (+8%)	6mo	$190,000	$190	60
28807 Block St	0.73mi	3/1.0	895 (-3%)	2mo	$163,200	$182	59
216 Helen St	0.67mi	3/1.0	958 (+4%)	6mo	$178,866	$187	58
28969 Sheridan St	0.71mi	3/1.5	1,002 (+8%)	3mo	$242,000	$242	48
28455 Birchlawn St	0.55mi	2/1.0 (-1)	800 (-14%)	1mo	$166,000	$208	46
28538 Block St	0.70mi	3/1.0	820 (-11%)	7mo	$140,000	$171	43
28824 Birchlawn St	0.68mi	2/1.0 (-1)	1,034 (+12%)	2mo	$60,000	$58	42
6141 Harrison St	0.68mi	2/1.0 (-1)	812 (-12%)	4mo	$138,000	$170	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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $4,961
• Equity at exit: $19,383

10-year hold

• IRR: 13.7%
• Equity multiple: 2.13×
• Total profit: $40,990
• Equity at exit: $11,240

Cash invested: $36,400 (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: 6.6×

Monthly cashflow live

• Estimated rent: $1,634 high
• Mortgage (P&I): −$682
• Tax from tax record: −$163 /mo · $1,960/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $391

Break-even live

Break-even rent $1,138

Max offer price $130,000

Occupancy floor 71%

Sensitivity live

Price	-10% $465	-5% $428	+0% $391	+5% $355	+10% $318
Rent	-10% $262	-5% $327	+0% $391	+5% $456	+10% $520
Rate	-1.0pp $457	-0.5pp $424	base $391	+0.5pp $358	+1.0pp $323

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5839 Helen St Garden City, MI	3.0	1.0	984	$1,500	$1.52	24d	1	0.46mi
5927 Lathers St Garden City, MI	3.0	1.0	1000	$1,600	$1.60	2d	1	0.56mi
238 Yorkshire Blvd Dearborn Heights, MI	1.0–2.0	1.0	741	$1,424	$1.92	2d	9	0.71mi
26322 Westphal St Dearborn Heights, MI	1.0–2.0	1.0	762	$1,455	$1.91	2d	24	1.08mi
6954 Inkster Rd Dearborn Heights, MI	1.0–2.0	1.0–1.5	837	$1,339	$1.60	3d	9	1.14mi
536 N Leona Ave Garden City, MI	3.0	1.0	1000	$1,440	$1.44	13d	1	1.18mi
5722 Centralia St Dearborn Heights, MI	3.0	1.0	999	$1,750	$1.75	2d	1	1.20mi
7048 Deering St Garden City, MI	3.0	1.0	910	$1,500	$1.65	18d	1	1.21mi
167 Cherry Valley Dr Inkster, MI	1.0–2.0	1.0	784	$1,395	$1.78	15d	12	1.26mi
1150 Magnolia Dr Inkster, MI	3.0	1.0	900	$1,300	$1.44	24d	1	1.35mi
27184 Lucerne Dr Inkster, MI	3.0	1.0	1100	$1,250	$1.14	44d	1	1.37mi
181 Terri Dr Unit 181 Dearborn Heights, MI	2.0	2.0	840	$1,119	$1.33	5d	1	1.39mi
7435 Lathers St Westland, MI	3.0	1.0	1120	$1,900	$1.70	17d	1	1.44mi
79 3rd St Unit 79 Dearborn Heights, MI	2.0	1.0	840	$1,339	$1.59	24d	1	1.45mi
7457 Harrison St Westland, MI	3.0	1.0	1120	$1,900	$1.70	2d	1	1.47mi
7484 Affeldt St Westland, MI	3.0	1.0	1120	$1,500	$1.34	24d	1	1.49mi
29203 Oakwood St Inkster, MI	3.0	1.5	912	$1,600	$1.75	2d	1	1.50mi

Listing history 2 events

1. 2026-06-01
   remarks 119-char remark

   Show marketing remark (119 chars)

   Desirable 3 Bedroom Brick Ranch with a large kitchen, open to the living area. Unfinished basement in a great location.

2. 2026-06-01
   listed $130,000 Pending

   Show marketing remark (119 chars)

   Desirable 3 Bedroom Brick Ranch with a large kitchen, open to the living area. Unfinished basement in a great location.

ⓘ 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: $1,960 · $163/mo
• Projected year-2 tax: $1,981 · $165/mo
• Expected delta: +$21/yr (+$2/mo · 1.1%)

ⓘ 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: $19,604
• − Mortgage interest: −$7,282
• − Property taxes: −$1,960
• − Insurance: −$650
• − Repairs & maintenance: −$1,568
• − Management: −$1,568
• − Depreciation: −$3,782
• Taxable income: $2,794
• Est. tax owed @ 24.0%: −$670
• After-tax cash flow: $4,026/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

2 events — show timeline

• 2026-06-01 Pending — MiRealSource-MiMLS
• 2026-05-31 Listed $130,000 MiRealSource-MiMLS

Property tax history

+1.9%/yr

Latest (2025): $1,960 · -10.9% YoY. Source: county tax records.