32136 Mount Vernon Rd · Gibraltar, MI 48173

$220,000

3 bd · 2.0 ba · 1,148 sqft · SingleFamily public records · 38 Days on market

Built 1976 5,663 sqft lot $192/sqft · at area comps Est $352k · 37% under

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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).

• ARV discount +15.0/15.0
• Cash flow +5.8/30.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.7/10.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom Full Brick Ranch located near Lake Erie Metro Park in S Brownstown Twp. 2 Full Bathrooms. 1 in finished basement that has a hot tub and another room that could be craft, office or bedroom for guest. Living Room and kitchen has vaulted ceilings. Large deck on back of home and a shed for storage. The yard is fenced with privacy on the north side with patio. Newer Furnace, Central Air, Hot Water Tank, and windows. Pictures have so much stuff because Seller is packing to move right away. Possession at close.

Key facts

• 5,663 sq ft lot
• Built 1976
• Listed 38 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-436 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (35.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (43.4% below list).
• Recommended offer: $125k (43.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#133 in MI, #3,254 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Gibraltar School District (suburban): math 29% / reading 46% proficiency, ranked #219 of 540 in MI (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Parsons Elementary School (math 32% / reading 57%, grade F, #484 of 1,397 statewide, top 38%, 379 students, 29% FRL); Shumate Middle School (math 32% / reading 47%, grade F, #215 of 493 statewide, top 45%, 795 students, 34% FRL); Oscar A Carlson High School (math 23% / reading 50%, grade F, #364 of 713 statewide, top 51%, 1,165 students, 31% FRL).
• Market conditions: 54 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 $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

• It's been on market 38 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $152k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $124,610 (43.4% 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. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.57% ✗
• Cap rate: 3.91%
• Cash-on-cash: -8.50%
• DSCR: 0.62
• GRM: 14.7

CMA / ARV

• ARV (median comp): $351,928
• List price: $220,000
• Delta: -37.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32114 Glaser Rd	0.06mi	3/1.5	1,116 (-3%)	13mo	$206,000	$185	80
32175 Glaser Rd	0.09mi	3/1.5	1,116 (-3%)	13mo	$180,000	$161	78
15208 Pleasant Dr	0.61mi	3/1.0	1,070 (-7%)	6mo	$240,500	$225	51
32477 Truman Rd	0.73mi	3/1.5	1,212 (+6%)	7mo	$180,000	$149	49
32198 Truman Rd	0.75mi	3/1.0	1,121 (-2%)	12mo	$233,000	$208	47

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: -31.3%
• Equity multiple: -0.03×
• Total profit: $-63,486
• Equity at exit: $32,803

10-year hold

• IRR: -35.1%
• Equity multiple: -0.48×
• Total profit: $-91,245
• 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 48173

• Active inventory: 54
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $1,246 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$175 /mo · $2,105/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $-436

Break-even live

Break-even rent $1,799

Max offer price $142,908

Occupancy floor —

Sensitivity live

Price	-10% $-312	-5% $-374	+0% $-436	+5% $-499	+10% $-561
Rent	-10% $-535	-5% $-486	+0% $-436	+5% $-387	+10% $-338
Rate	-1.0pp $-326	-0.5pp $-380	base $-436	+0.5pp $-493	+1.0pp $-551

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33002 Truman Rd Rockwood, MI	2.0	1.0	935	$1,245	$1.33	0d	1	0.77mi
33034 Truman Rd Rockwood, MI	2.0	1.5	935	$1,245	$1.33	0d	1	0.77mi
30040 Kingsbridge Dr Rockwood, MI	1.0–2.0	1.0	775	$1,250	$1.61	0d	1	1.12mi

Listing history 19 events

1. 2026-05-07
   status Pending 519-char remark

   Show marketing remark (519 chars)

   3 Bedroom Full Brick Ranch located near Lake Erie Metro Park in S Brownstown Twp. 2 Full Bathrooms. 1 in finished basement that has a hot tub and another room that could be craft, office or bedroom for guest. Living Room and kitchen has vaulted ceilings. Large deck on back of home and a shed for storage. The yard is fenced with privacy on the north side with patio. Newer Furnace, Central Air, Hot Water Tank, and windows. Pictures have so much stuff because Seller is packing to move right away. Possession at close.

2. 2026-05-07
   status Pending 519-char remark

   Show marketing remark (519 chars)

   3 Bedroom Full Brick Ranch located near Lake Erie Metro Park in S Brownstown Twp. 2 Full Bathrooms. 1 in finished basement that has a hot tub and another room that could be craft, office or bedroom for guest. Living Room and kitchen has vaulted ceilings. Large deck on back of home and a shed for storage. The yard is fenced with privacy on the north side with patio. Newer Furnace, Central Air, Hot Water Tank, and windows. Pictures have so much stuff because Seller is packing to move right away. Possession at close.

3. 2026-05-01
   price $220,000 519-char remark

   Show marketing remark (519 chars)

   3 Bedroom Full Brick Ranch located near Lake Erie Metro Park in S Brownstown Twp. 2 Full Bathrooms. 1 in finished basement that has a hot tub and another room that could be craft, office or bedroom for guest. Living Room and kitchen has vaulted ceilings. Large deck on back of home and a shed for storage. The yard is fenced with privacy on the north side with patio. Newer Furnace, Central Air, Hot Water Tank, and windows. Pictures have so much stuff because Seller is packing to move right away. Possession at close.

4. 2026-05-01
   price $220,000 519-char remark

   Show marketing remark (519 chars)

   3 Bedroom Full Brick Ranch located near Lake Erie Metro Park in S Brownstown Twp. 2 Full Bathrooms. 1 in finished basement that has a hot tub and another room that could be craft, office or bedroom for guest. Living Room and kitchen has vaulted ceilings. Large deck on back of home and a shed for storage. The yard is fenced with privacy on the north side with patio. Newer Furnace, Central Air, Hot Water Tank, and windows. Pictures have so much stuff because Seller is packing to move right away. Possession at close.

5. 2026-03-30
   listed $230,000 Active 519-char remark

   Show marketing remark (519 chars)

   3 Bedroom Full Brick Ranch located near Lake Erie Metro Park in S Brownstown Twp. 2 Full Bathrooms. 1 in finished basement that has a hot tub and another room that could be craft, office or bedroom for guest. Living Room and kitchen has vaulted ceilings. Large deck on back of home and a shed for storage. The yard is fenced with privacy on the north side with patio. Newer Furnace, Central Air, Hot Water Tank, and windows. Pictures have so much stuff because Seller is packing to move right away. Possession at close.

6. 2026-03-28
   listed $230,000 Active 519-char remark

   Show marketing remark (519 chars)

   3 Bedroom Full Brick Ranch located near Lake Erie Metro Park in S Brownstown Twp. 2 Full Bathrooms. 1 in finished basement that has a hot tub and another room that could be craft, office or bedroom for guest. Living Room and kitchen has vaulted ceilings. Large deck on back of home and a shed for storage. The yard is fenced with privacy on the north side with patio. Newer Furnace, Central Air, Hot Water Tank, and windows. Pictures have so much stuff because Seller is packing to move right away. Possession at close.

7. 2018-07-31
   soldstatus $151,500
8. 2018-07-19
   soldstatus $151,500 Sold
9. 2018-07-19
   soldstatus $151,500 Closed
10. 2018-06-11
    status Pending
11. 2018-06-11
    status Pending
12. 2018-05-25
    status Active
13. 2018-05-23
    historical
14. 2018-05-18
    price $149,900
15. 2018-05-17
    price $149,900
16. 2018-05-04
    listed $159,900 Active
17. 2018-05-04
    listed $159,900 Active
18. 2005-09-27
    soldstatus $148,000
19. 1996-09-23
    soldstatus $87,500

ⓘ 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: $2,105 · $175/mo
• Projected year-2 tax: $2,747 · $229/mo
• Expected delta: +$641/yr (+$53/mo · 30.5%)

ⓘ 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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,953
• − Mortgage interest: −$12,323
• − Property taxes: −$2,105
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$6,400
• Taxable loss: −$9,368
• Est. tax savings @ 24.0%: +$2,248
• After-tax cash flow: $-2,988/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: Gibraltar School District
• NCES district ID: 2615870
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $64,791
• Composite: 33.77/100
• National rank: #5367
• State rank: #219 of 540 in MI

Livability — Gibraltar

• Score: 77/100
• State rank: #133
• US rank: #3254

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,984

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 (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 6% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Lithuanian 6% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Tagalog/Filipino 2% 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: ▼ -153.48%
• Current HPI: 205.5632
• 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

+151.4% since first listed

19 events — show timeline

• 2026-05-07 Pending — MiRealSource-MiMLS
• 2026-05-07 Pending — REALCOMP
• 2026-05-01 Price Changed $220,000 MiRealSource-MiMLS
• 2026-05-01 Price Changed $220,000 REALCOMP
• 2026-03-30 Listed $230,000 REALCOMP
• 2026-03-28 Listed $230,000 MiRealSource-MiMLS
• 2018-07-31 Sold (Public Records) $151,500 Public Records
• 2018-07-19 Sold (MLS) $151,500 MiRealSource-MiMLS
• 2018-07-19 Sold (MLS) $151,500 REALCOMP
• 2018-06-11 Pending — MiRealSource-MiMLS
• 2018-06-11 Pending — REALCOMP
• 2018-05-25 Relisted — REALCOMP
• 2018-05-23 Listing Removed — REALCOMP
• 2018-05-18 Price Changed $149,900 MiRealSource-MiMLS
• 2018-05-17 Price Changed $149,900 REALCOMP
• 2018-05-04 Listed $159,900 MiRealSource-MiMLS
• 2018-05-04 Listed $159,900 REALCOMP
• 2005-09-27 Sold (Public Records) $148,000 Public Records
• 1996-09-23 Sold (Public Records) $87,500 Public Records

Property tax history

+1.0%/yr

Latest (2025): $2,105 · -55.9% YoY. Source: county tax records.