28638 Barton St · Garden City, MI 48135

$115,000

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 19 Days on market

Built 1944 Est $114k · at est.

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Why this score? — see what drove the C+ 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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.2/15.0
• 1% rule +7.1/10.0
• 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

For sale by owner. Two bedroom home in quiet, family friendly neighborhood within walking distance from elementary school. Basement and enclosed patio provides extra space for gathering or storage. Extra sized backyard with 16ft shed. Comes with gas stove, refrigerator, front loading wash and dryer. Selling as is. Kitchen requires some work perfect for creating your own style.

Key facts

• Extra sized backyard
• Gas stove
• Refrigerator

Tags

• EXTRA SIZED BACKYARD
• GAS STOVE
• REFRIGERATOR
• FRONT LOADING WASH AND DRYER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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); 140 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $795 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1944 — 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: 1.21% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.34%
• DSCR: 1.46
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $114,240
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1726 Helen St	0.48mi	2/1.0	705 (+5%)	23mo	$140,000	$199	51
28967 Beechwood Ave	0.67mi	2/1.0	721 (+7%)	9mo	$150,000	$208	49
28643 Beechwood St	0.65mi	2/1.0	716 (+6%)	18mo	$122,000	$170	44
28675 Krauter St	0.60mi	2/1.0	720 (+7%)	20mo	$55,000	$76	43
233 Magnolia Dr	0.59mi	2/1.0	764 (+14%)	8mo	$60,000	$79	43

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: 0.0%
• Equity multiple: 1.00×
• Total profit: $4
• Equity at exit: $17,147

10-year hold

• IRR: 10.4%
• Equity multiple: 1.83×
• Total profit: $26,755
• Equity at exit: $9,943

Cash invested: $32,200 (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 48135

• Rents YoY: 3.6%
• Active inventory: 140
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,397 high
• Mortgage (P&I): −$603
• Tax from tax record: −$175 /mo · $2,099/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $278

Break-even live

Break-even rent $1,045

Max offer price $115,000

Occupancy floor 75%

Sensitivity live

Price	-10% $343	-5% $310	+0% $278	+5% $245	+10% $212
Rent	-10% $167	-5% $222	+0% $278	+5% $333	+10% $388
Rate	-1.0pp $335	-0.5pp $307	base $278	+0.5pp $248	+1.0pp $217

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
238 Yorkshire Blvd Dearborn Heights, MI	1.0–2.0	1.0	741	$1,424	$1.92	0d	15	0.88mi
5726 Inkster Rd Dearborn Heights, MI	1.0	1.0	630	$1,050	$1.67	45d	1	0.94mi
130 E Tami Cir Westland, MI	1.0–2.0	1.0–1.5	800	$1,209	$1.51	45d	3	1.06mi
30507 Krauter St Garden City, MI	1.0	1.0	700	$1,195	$1.71	25d	1	1.07mi
26322 Westphal St Dearborn Heights, MI	1.0–2.0	1.0	762	$1,455	$1.91	0d	25	1.37mi

Listing history 13 events

1. 2026-06-21
   days on market $115,000 Active 19 DOM
2. 2026-06-18
   days on market $115,000 Active 16 DOM
3. 2026-06-17
   days on market $115,000 Active 15 DOM
4. 2026-06-16
   days on market $115,000 Active 14 DOM
5. 2026-06-15
   days on market $115,000 Active 13 DOM
6. 2026-06-13
   days on market $115,000 Active 11 DOM
7. 2026-06-13
   days on market $115,000 Active 10 DOM
8. 2026-06-09
   days on market $115,000 Active 7 DOM
9. 2026-06-08
   days on market $115,000 Active 6 DOM
10. 2026-06-07
    days on market $115,000 Active 5 DOM
11. 2026-06-04
    days on market $115,000 Active 2 DOM
12. 2026-06-02
    remarks 379-char remark
13. 2026-06-02
    listed $115,000 Active 1 DOM

ⓘ 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: $2,099 · $175/mo
• Projected year-2 tax: $2,099 · $175/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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: $16,762
• − Mortgage interest: −$6,442
• − Property taxes: −$2,099
• − Insurance: −$575
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$3,345
• Taxable income: $1,619
• Est. tax owed @ 24.0%: −$388
• After-tax cash flow: $2,942/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

1 event — show timeline

• 2026-06-03 Listed $115,000 FSBO.com

Property tax history

+3.5%/yr

Latest (2025): $2,099 · +3.6% YoY. Source: county tax records.