328 S 3rd St · Brighton, MI 48116

$265,000

4 bd · 1.0 ba · 1,392 sqft · SingleFamily public records · 15 Days on market

Built 1872 0.30 ac lot Est $366k · 28% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• 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

Welcome to this charming 4 bedroom home near downtown Brighton, offering a wonderful blend of historic character and functionality. Built in 1872, this home features timeless appeal with spacious living areas and a flexible floor plan, with two bedrooms on the main level and two bedrooms upstairs. The dining room adds warmth and character to the home. The main level also features a full bathroom and comfortable living spaces filled with natural light. Outside, you'll find a detached 1.5 car garage offering additional storage. Conveniently located near shopping, dining, parks, and all that Brighton has to offer, this home presents a unique opportunity to own a piece of local history.

Key facts

• Near dining
• Near shopping
• Flexible floor plan

Tags

• HISTORIC CHARACTER
• FLEXIBLE FLOOR PLAN
• NATURAL LIGHT
• DETACHED GARAGE
• NEAR SHOPPING
• NEAR DINING

Property features AI

Finance

• Other: Lot approximately 0.3 acre (100 x 133)
• HOA & community: Homeowners association present

Exterior

• Parking: Detached covered garage (about 1.5 car); Assigned parking; Paved driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Built with other materials; Unfinished basement
• Exterior features: Deck; Porch; Fenced yard; Paved road

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas heating
• Interior features: Dishwasher; Dryer; Oven; Refrigerator; Range; Washer; Hardwood flooring; Unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Recommended offer: $261k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 3.2% 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 488 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% 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 $8k 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 $74k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $65k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $97k; list at $265k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1872 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $261,025 (1.5% below list)

Questions for the listing agent

1. Built in 1872 — 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: 1.36% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.51%
• DSCR: 1.78
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $366,096
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
870 Alpine Dr	0.61mi	3/2.0 (-1)	1,377 (-1%)	4mo	$400,000	$290	58
304 S 3rd St	0.05mi	3/2.0 (-1)	1,598 (+15%)	10mo	$400,200	$250	55
838 Devonshire Blvd	0.43mi	3/1.5 (-1)	1,430 (+3%)	19mo	$355,000	$248	53
728 S 3rd St	0.27mi	3/2.0 (-1)	1,281 (-8%)	16mo	$380,000	$297	52
4860 Dillon St	0.46mi	3/2.0 (-1)	1,443 (+4%)	19mo	$390,000	$270	48
725 S 3rd St	0.26mi	3/2.0 (-1)	1,512 (+9%)	22mo	$265,000	$175	46
773 Oak Ridge Dr	0.56mi	3/1.5 (-1)	1,427 (+2%)	20mo	$375,000	$263	46
624 E Main St	0.58mi	3/2.0 (-1)	1,200 (-14%)	6mo	$355,000	$296	36
215 S East St	0.51mi	3/2.0 (-1)	1,528 (+10%)	22mo	$375,000	$245	32
894 Alpine Dr	0.69mi	3/2.0 (-1)	1,575 (+13%)	10mo	$350,000	$222	29

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: 8.9%
• Equity multiple: 1.35×
• Total profit: $26,027
• Equity at exit: $39,512

10-year hold

• IRR: 18.1%
• Equity multiple: 2.50×
• Total profit: $111,516
• Equity at exit: $22,912

Cash invested: $74,200 (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: 6.1×

Monthly cashflow live

• Estimated rent: $3,609 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$268 /mo · $3,221/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$758
• Net cashflow: $1,083

Break-even live

Break-even rent $2,239

Max offer price $265,000

Occupancy floor 65%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
700 N 2nd St Brighton, MI	1.0–3.0	1.0–2.0	1039	$3,335	$3.21	1d	1	0.81mi
4229 Deeside Dr Brighton, MI	2.0–3.0	2.0	1632	$2,669	$1.64	1d	1	1.11mi

Listing history 14 events

1. 2026-06-18
   status $265,000 Pending 15 DOM
2. 2026-06-17
   days on market $265,000 Active 15 DOM
3. 2026-06-16
   days on market $265,000 Active 14 DOM
4. 2026-06-16
   price $265,000 Active 13 DOM
5. 2026-06-15
   days on market $290,000 Active 13 DOM
6. 2026-06-13
   days on market $290,000 Active 11 DOM
7. 2026-06-13
   days on market $290,000 Active 10 DOM
8. 2026-06-10
   price $290,000 Active 7 DOM
9. 2026-06-09
   days on market $315,000 Active 7 DOM
10. 2026-06-08
    days on market $315,000 Active 6 DOM
11. 2026-06-07
    pricedays on market $315,000 Active 5 DOM
12. 2026-06-04
    days on market $329,900 Active 2 DOM
13. 2026-06-02
    remarks 691-char remark

    Show marketing remark (691 chars)

    Welcome to this charming 4 bedroom home near downtown Brighton, offering a wonderful blend of historic character and functionality. Built in 1872, this home features timeless appeal with spacious living areas and a flexible floor plan, with two bedrooms on the main level and two bedrooms upstairs. The dining room adds warmth and character to the home. The main level also features a full bathroom and comfortable living spaces filled with natural light. Outside, you'll find a detached 1.5 car garage offering additional storage. Conveniently located near shopping, dining, parks, and all that Brighton has to offer, this home presents a unique opportunity to own a piece of local history.

14. 2026-06-02
    listed $329,900 Active 1 DOM

    Show marketing remark (691 chars)

    Welcome to this charming 4 bedroom home near downtown Brighton, offering a wonderful blend of historic character and functionality. Built in 1872, this home features timeless appeal with spacious living areas and a flexible floor plan, with two bedrooms on the main level and two bedrooms upstairs. The dining room adds warmth and character to the home. The main level also features a full bathroom and comfortable living spaces filled with natural light. Outside, you'll find a detached 1.5 car garage offering additional storage. Conveniently located near shopping, dining, parks, and all that Brighton has to offer, this home presents a unique opportunity to own a piece of local history.

ⓘ 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: $3,221 · $268/mo
• Projected year-2 tax: $3,651 · $304/mo
• Expected delta: +$430/yr (+$36/mo · 13.3%)

ⓘ 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: $43,309
• − Mortgage interest: −$14,844
• − Property taxes: −$3,221
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,465
• − Management: −$3,465
• − Depreciation: −$7,709
• Taxable income: $9,280
• Est. tax owed @ 24.0%: −$2,227
• After-tax cash flow: $10,764/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

+240.1% since first listed

3 events — show timeline

• 2026-06-02 Listed $329,900 REALCOMP
• 2026-06-02 Listed $329,900 MiRealSource-MiMLS
• 1995-07-21 Sold (Public Records) $97,000 Public Records

Property tax history

+0.0%/yr

Latest (2025): $3,221 · -5.5% YoY. Source: county tax records.