28472 Greenview St · Romulus, MI 48174

$175,000

3 bd · 1.5 ba · 1,238 sqft · MultiFamily public records · 8 Days on market

Built 1969 9,583 sqft lot

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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 +17.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +4.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great opportunity in the Greenview Subdivision! This 4-bedroom, 2-bathroom tri-level home features 1,250 sq ft of living space and awaits your personal updates and finishing touches. Situated on a nicely sized, fully fenced 0.22-acre lot, the property offers a wonderful outdoor space complete with an outdoor pool. Please note: INSPECTION REPORT "ITEMS WILL BE COMPLETED BY THE SELLER, " Offers ground-level entry, kitchen appliances included, and immediate possession at close. Schedule your tour today to see the true potential of this home!

Key facts

• Outdoor pool
• Fully fenced lot
• 9,583 sq ft lot

Tags

• FULLY FENCED LOT
• OUTDOOR POOL

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Ground-level entry
• Construction: Aluminum and vinyl siding; Slab foundation; Above-grade living area ~1,250 square feet
• Exterior features: Paved road access; Lot dimensions approximately 60.26 x 162.49 (0.22 acre)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: 7 total rooms; Outdoor pool

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/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 $162k (7.3% below list).
• Recommended offer: $162k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 4.2% in Romulus — 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 60/100 on livability (#593 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute D+, schools F, crime F.
• Romulus Community Schools (suburban): math 9% / reading 21% proficiency, ranked #498 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 215 active listings in the ZIP; 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 24y 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 $45k; list at $175k implies a 289% gain — meaningful room to come down on a strong offer.

Recommended offer $162,234 (7.3% below list)

Questions for the listing agent

1. Built in 1969 — 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 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?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
6. 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.
7. 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.
8. 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: 0.93% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.54%
• DSCR: 1.16
• GRM: 9.0

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: -10.8%
• Equity multiple: 0.61×
• Total profit: $-19,182
• Equity at exit: $26,093

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-4,944
• Equity at exit: $15,131

Cash invested: $49,000 (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 48174

• Active inventory: 215
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,622 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$147 /mo · $1,760/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $144

Break-even live

Break-even rent $1,440

Max offer price $175,000

Occupancy floor 86%

Sensitivity live

Price	-10% $243	-5% $194	+0% $144	+5% $95	+10% $45
Rent	-10% $16	-5% $80	+0% $144	+5% $208	+10% $273
Rate	-1.0pp $233	-0.5pp $189	base $144	+0.5pp $99	+1.0pp $53

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $175,000 Active 8 DOM
2. 2026-06-17
   days on market $175,000 Active 7 DOM
3. 2026-06-16
   days on market $175,000 Active 6 DOM
4. 2026-06-15
   days on market $175,000 Active 5 DOM
5. 2026-06-13
   days on market $175,000 Active 3 DOM
6. 2026-06-13
   remarks 545-char remark
7. 2026-06-13
   listed $175,000 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: $1,760 · $147/mo
• Projected year-2 tax: $2,227 · $186/mo
• Expected delta: +$468/yr (+$39/mo · 26.6%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,468
• − Mortgage interest: −$9,803
• − Property taxes: −$1,760
• − Insurance: −$875
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$5,091
• Taxable loss: −$1,175
• Est. tax savings @ 24.0%: +$282
• After-tax cash flow: $2,014/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: Romulus Community Schools
• NCES district ID: 2630120
• Math proficiency: 9% ▼ -14.00%
• Reading proficiency: 21% ▼ -9.00%
• Median HH income: $44,165
• Composite: 13.17/100
• National rank: #9556
• State rank: #498 of 540 in MI

Livability — Romulus

• Score: 60/100
• State rank: #593
• US rank: #19387

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Romulus, MI
• County: Wayne County · 1,562,939 people
• City population: 32,211
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 32,211
• Household income: $67,056
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 755.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 52% Black 37% Two or more races 8% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 6% Lithuanian 3% Italian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Other Asian/Pacific 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: ▼ -171.93%
• Current HPI: 207.8345
• 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

+288.9% since first listed

12 events — show timeline

• 2026-06-10 Listed $175,000 REALCOMP
• 2026-06-10 Listed $175,000 MiRealSource-MiMLS
• 2003-12-08 Listing Removed — MiRealSource-MiMLS
• 2003-12-08 Listing Removed — REALCOMP
• 2003-10-08 Listed $126,000 REALCOMP
• 2003-09-08 Listed $126,000 REALCOMP
• 2003-09-08 Listed $126,000 MiRealSource-MiMLS
• 2002-04-30 Listing Removed — MiRealSource-MiMLS
• 2002-02-18 Listed $112,500 REALCOMP
• 2002-02-18 Listed $112,500 MiRealSource-MiMLS
• 1998-01-14 Sold (Public Records) $45,000 Public Records
• 1991-10-31 Sold (Public Records) $45,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $1,760 · +457.2% YoY. Source: county tax records.