28366 Brookfield Ct · Gibraltar, MI 48183

$169,000

3 bd · 1.5 ba · 1,200 sqft · Condo · 36 Days on market

Good condition

---

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).

• Cash flow +7.8/30.0
• ARV discount +7.5/15.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Ready to move in! Very nice 3 bedroom quiet cozy condo!! 10 mins from the water front, southland mall, target, Walmart, Kroger, and meijers and a variety of restaurants.

Key facts

• Listed 36 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $169k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (10.5% below list).
• Recommended offer: $151k (10.5% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.7% in Gibraltar — 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 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: Hunter Elementary School (math 22% / reading 42%, grade F, #814 of 1,397 statewide, top 61%, 393 students, 43% 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: 181 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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 36 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.

Recommended offer $151,252 (10.5% 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 36 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.89% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.69%
• DSCR: 0.79
• GRM: 9.3

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: -24.1%
• Equity multiple: 0.18×
• Total profit: $-39,017
• Equity at exit: $25,198

10-year hold

• IRR: -19.0%
• Equity multiple: -0.03×
• Total profit: $-48,528
• Equity at exit: $14,612

Cash invested: $47,320 (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 48183

• Active inventory: 181
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,513 medium
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• HOA est. from 2 same-building comps: −$212
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-185

Break-even live

Break-even rent $1,747

Max offer price $142,226

Occupancy floor —

Sensitivity live

Price	-10% $-68	-5% $-127	+0% $-185	+5% $-243	+10% $-302
Rent	-10% $-305	-5% $-245	+0% $-185	+5% $-125	+10% $-66
Rate	-1.0pp $-100	-0.5pp $-142	base $-185	+0.5pp $-229	+1.0pp $-273

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30040 Kingsbridge Dr Rockwood, MI	1.0–2.0	1.0	775	$1,250	$1.61	0d	1	1.44mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-21
   days on market $169,000 Active 36 DOM
2. 2026-06-18
   days on market $169,000 Active 33 DOM
3. 2026-06-17
   days on market $169,000 Active 32 DOM
4. 2026-06-16
   days on market $169,000 Active 31 DOM
5. 2026-06-15
   days on market $169,000 Active 30 DOM
6. 2026-06-13
   days on market $169,000 Active 28 DOM
7. 2026-06-09
   days on market $169,000 Active 24 DOM
8. 2026-06-08
   days on market $169,000 Active 23 DOM
9. 2026-06-07
   days on market $169,000 Active 22 DOM
10. 2026-06-04
    days on market $169,000 Active 19 DOM
11. 2026-06-03
    days on market $169,000 Active 18 DOM
12. 2026-06-02
    days on market $169,000 Active 17 DOM
13. 2026-06-01
    days on market $169,000 Active 16 DOM
14. 2026-05-31
    days on market $169,000 Active 15 DOM
15. 2026-05-12
    listed $169,000 Active

ⓘ 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: $18,150
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$845
• − Repairs & maintenance: −$1,452
• − Management: −$1,452
• − HOA: −$2,544
• − Depreciation: −$4,916
• Taxable loss: −$5,061
• Est. tax savings @ 24.0%: +$1,215
• After-tax cash flow: $-1,006/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 · 10 photos

Good 75/100 Cosmetic rehab

This move-in ready townhouse is in good condition with a fresh interior and well-maintained exterior. Minor updates to the interior and exterior can significantly increase its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can make the space feel new and inviting
• Both Replace worn-out furniture — Fresh furniture can improve the overall look and feel of the home
• Both Add outdoor lighting — Outdoor lighting can enhance curb appeal and safety
• Both Add a small garden or planter box — A small garden can enhance curb appeal and add a touch of greenery

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can make the space feel new and inviting ↑
• Both Replace worn-out furniture — Fresh furniture can improve the overall look and feel of the home ↑
• Both Add outdoor lighting — Outdoor lighting can enhance curb appeal and safety ↑
• Both Add a small garden or planter box — A small garden can enhance curb appeal and add a touch of greenery ↑

ⓘ 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: 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

• County: Wayne County · 1,562,939 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 41,765
• Household income: $83,508
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 836.0

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% Hispanic / Latino 6% Black 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 15% Lithuanian 4% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Spanish 2%

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: ▼ -222.34%
• Current HPI: 216.3623
• 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

1 event — show timeline

• 2026-05-12 Listed $169,000 Fizber.com