529 Cardwell St · Garden City, MI 48135

$185,000

3 bd · 1.0 ba · 999 sqft · SingleFamily public records · 14 Days on market

Built 1956 5,800 sqft lot Est $176k · 5% over

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Why this score? — see what drove the D- 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 +14.2/30.0
• ARV discount +5.2/15.0
• DSCR +4.3/10.0
• Livability +4.1/5.0
• 1% rule +3.7/10.0
• 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

Great investment opportunity with endless potential in this solid brick ranch located in the heart of Garden City! Offering nearly 2,000 sq ft of finished living space including a finished basement, this 3-bedroom, 1-bath home is perfect for investors, first-time buyers, or anyone looking to add their own personal touches. Features include a spacious living room, large kitchen, finished lower level with additional living space, fenced backyard, expansive deck, shed for extra storage, and a long driveway for ample parking. Conveniently located near shopping, dining, schools, and major freeways. With great bones and tons of upside, this home is full of possibilities and ready for its next owner!

Key facts

• 5,800 sq ft lot
• Built 1956
• Listed 14 days

Property features AI

Exterior

• Parking: Driveway; No garage
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Single family residence; One-story; Ground-level entry with steps; Brick construction
• Construction: Brick exterior
• Exterior features: Deck; Patio; Exterior lighting; Fenced yard; Storage shed(s)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Attic fan; Ceiling fan(s); Forced air heating; Natural gas heating
• Interior features: Finished basement; 6 total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $30 ($361/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (13.2% below list).
• Recommended offer: $161k (13.2% below list) — sets the bar for 1% rule.

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; 18 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 $1k of loan paydown is wiped out by about $6k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 25y ago; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $117k; list at $185k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,662 (13.2% below list)

Questions for the listing agent

1. Built in 1956 — 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. 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?
5. 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.
6. 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.
7. 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: 0.87% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.70%
• DSCR: 1.03
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $175,824
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 Helen St	0.16mi	3/1.0	958 (-4%)	6mo	$178,866	$187	81
112 Brentwood St	0.55mi	3/1.0	994 (-0%)	1mo	$164,000	$165	72
363 Sherbourne St	0.45mi	3/1.5	1,030 (+3%)	2mo	$160,000	$155	70
1147 Harrison Ave	0.47mi	3/1.0	1,065 (+7%)	0mo	$187,000	$176	67
28999 Beechnut St	0.70mi	3/1.0	1,008 (+1%)	0mo	$180,000	$179	66
28969 Sheridan St	0.63mi	3/1.5	1,002 (+0%)	3mo	$242,000	$242	66
28999 Beechnut St	0.70mi	3/1.0	1,008 (+1%)	3mo	$86,500	$86	64
291 Arlington St	0.60mi	3/1.0	966 (-3%)	4mo	$139,000	$144	62
28513 Barton St	0.43mi	3/2.0	915 (-8%)	4mo	$241,000	$263	58
28005 Avondale St	0.73mi	3/1.0	962 (-4%)	2mo	$107,500	$112	58
1843 Lathers St	0.71mi	2/1.0 (-1)	978 (-2%)	1mo	$179,000	$183	58
2019 Helen St	0.71mi	3/1.0	934 (-6%)	4mo	$158,000	$169	53

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-27,005
• Equity at exit: $27,584

10-year hold

• IRR: -4.8%
• Equity multiple: 0.68×
• Total profit: $-16,651
• Equity at exit: $15,995

Cash invested: $51,800 (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: 9.6×

Monthly cashflow live

• Estimated rent: $1,607 high
• Mortgage (P&I): −$970
• Tax from tax record: −$192 /mo · $2,303/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $30

Break-even live

Break-even rent $1,569

Max offer price $185,000

Occupancy floor 93%

Sensitivity live

Price	-10% $135	-5% $82	+0% $30	+5% $-22	+10% $-75
Rent	-10% $-97	-5% $-33	+0% $30	+5% $94	+10% $157
Rate	-1.0pp $123	-0.5pp $77	base $30	+0.5pp $-18	+1.0pp $-67

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 18 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	0.37mi
1713 Gilman St Garden City, MI	3.0	1.0	860	$1,600	$1.86	0d	1	0.56mi
1189 Woodland Dr Inkster, MI	3.0	1.0	994	$1,400	$1.41	0d	1	0.87mi
26322 Westphal St Dearborn Heights, MI	1.0–2.0	1.0	762	$1,455	$1.91	0d	25	0.87mi
1150 Magnolia Dr Inkster, MI	3.0	1.0	900	$1,300	$1.44	25d	1	0.88mi
27184 Lucerne Dr Inkster, MI	3.0	1.0	1100	$1,250	$1.14	44d	1	0.90mi
5839 Helen St Garden City, MI	3.0	1.0	984	$1,500	$1.52	0d	1	0.93mi
5927 Lathers St Garden City, MI	3.0	1.0	1000	$1,600	$1.60	0d	1	1.01mi
167 Cherry Valley Dr Inkster, MI	1.0–2.0	1.0	784	$1,395	$1.78	15d	12	1.05mi
536 N Leona Ave Garden City, MI	3.0	1.0	1000	$1,440	$1.44	13d	1	1.06mi
29203 Oakwood St Inkster, MI	3.0	1.5	912	$1,600	$1.75	0d	1	1.10mi
29800 Oakwood St Inkster, MI	3.0	1.0	1040	$1,400	$1.35	13d	1	1.26mi
572 Tobin Dr Inkster, MI	1.0–3.0	1.0–2.0	936	$1,600	$1.71	0d	23	1.29mi
30043 Grandview St Unit 1 Inkster, MI	3.0	1.5	1004	$1,275	$1.27	44d	1	1.34mi
130 E Tami Cir Westland, MI	1.0–2.0	1.0–1.5	800	$1,209	$1.51	44d	3	1.41mi
30010 Hazelwood St Inkster, MI	3.0	1.0	1044	$1,300	$1.25	44d	1	1.43mi
5722 Centralia St Dearborn Heights, MI	3.0	1.0	999	$1,750	$1.75	0d	1	1.44mi
30520 Hiveley St Westland, MI	3.0	1.0	1105	$1,700	$1.54	22d	1	1.45mi

Listing history 9 events

1. 2026-06-13
   statusdays on market $185,000 Pending 14 DOM
2. 2026-06-09
   days on market $185,000 Active 11 DOM
3. 2026-06-08
   pricedays on market $185,000 Active 10 DOM
4. 2026-06-07
   days on market $199,000 Active 9 DOM
5. 2026-06-04
   days on market $199,000 Active 6 DOM
6. 2026-06-03
   days on market $199,000 Active 5 DOM
7. 2026-06-02
   days on market $199,000 Active 4 DOM
8. 2026-06-01
   days on market $199,000 Active 3 DOM
9. 2026-05-31
   days on market $199,000 Active 2 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: $2,303 · $192/mo
• Projected year-2 tax: $2,576 · $215/mo
• Expected delta: +$273/yr (+$23/mo · 11.9%)

ⓘ 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: $19,279
• − Mortgage interest: −$10,363
• − Property taxes: −$2,303
• − Insurance: −$925
• − Repairs & maintenance: −$1,542
• − Management: −$1,542
• − Depreciation: −$5,382
• Taxable loss: −$2,778
• Est. tax savings @ 24.0%: +$667
• After-tax cash flow: $1,028/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

+66.5% since first listed

13 events — show timeline

• 2026-05-30 Listed $199,000 MiRealSource-MiMLS
• 2026-05-30 Listed $199,000 REALCOMP
• 2026-05-29 Coming Soon $199,000 MiRealSource-MiMLS
• 2026-05-29 Price Changed $199,000 REALCOMP
• 2001-09-26 Sold (Public Records) $117,000 Public Records
• 2001-08-21 Sold (MLS) $117,000 REALCOMP
• 2001-07-05 Listing Removed — REALCOMP
• 2001-07-05 Listed $119,500 REALCOMP
• 2001-06-11 Listing Removed — REALCOMP
• 2001-06-11 Listed $119,500 REALCOMP
• 2001-06-05 Listing Removed — REALCOMP
• 2001-06-04 Listed $119,500 REALCOMP
• 2001-05-08 Listed $119,500 REALCOMP

Property tax history

+2.4%/yr

Latest (2025): $2,303 · -10.7% YoY. Source: county tax records.