11203 Waverly Dr · Plymouth, MI 48170

$385,000

3 bd · 1.5 ba · 1,834 sqft · SingleFamily public records · 3 Days on market

Built 1979 0.26 ac lot Est $442k · 13% under

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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).

• ARV discount +13.3/15.0
• Cash flow +12.2/30.0
• Schools +5.6/10.0
• Livability +4.2/5.0
• DSCR +3.6/10.0
• Rent growth +3.3/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this classic Plymouth Colonial offering 3 bedrooms, 2.5 bathrooms, and a thoughtfully finished basement providing valuable additional living space. The main level features a functional and flowing layout ideal for everyday living and entertaining guests. The standout feature of this home is the spectacular backyard a true entertainer's dream. The expansive deck sets the stage for summer gatherings, outdoor dining, and everything in between, all within a private and beautifully maintained setting. Ideally located just minutes from downtown Plymouth's renowned dining, shopping, and community events. This is the one you've been waiting for schedule your showing today

Key facts

• Spectacular backyard
• Finished basement
• Private setting

Tags

• FINISHED BASEMENT
• SPECTACULAR BACKYARD
• EXPANSIVE DECK
• PRIVATE SETTING
• MINUTES FROM DOWNTOWN

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Block and brick construction
• Construction: Asphalt roof; Block and brick construction; Finished below-grade area
• Exterior features: Deck; Porch; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Free-standing gas range; Free-standing refrigerator; Microwave
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas water heater; Dishwasher; Disposal; Free-standing gas range; Free-standing refrigerator; Microwave; Washer; Fireplace in the family room; Finished basement with sump pump; Total of 8 rooms
• Laundry & utility: Washer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $385k.

Deal economics

• At list price, monthly cash flow is $-75 ($-903/yr) — negative.
• To cash-flow at today's rent, offer at most $372k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $314k (18.5% below list).
• Recommended offer: $314k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.2% in Plymouth — 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 85/100 on livability (#25 in MI, #516 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Plymouth-Canton Community Schools (suburban): math 58% / reading 66% proficiency, ranked #27 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Farrand Elementary School (math 57% / reading 67%, grade B, #160 of 1,397 statewide, top 13%, 384 students, 21% FRL); East Middle School (math 72% / reading 78%, grade A, #8 of 493 statewide, top 3%, 705 students, 20% FRL).
• Market conditions: Rents rising (+3.4%/yr); 238 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 33% of the median local income ($114k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 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 $250k; list at $385k implies a 54% gain — meaningful room to come down on a strong offer.

Recommended offer $313,604 (18.5% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 0.81% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.84%
• DSCR: 0.96
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $441,994
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9466 Marilyn Ave	0.48mi	3/1.5	1,823 (-1%)	6mo	$380,000	$208	72
11467 Russell Ave	0.46mi	4/2.5 (+1)	1,850 (+1%)	1mo	$371,000	$201	67
41079 E Ann Arbor Trl	0.34mi	3/1.5	1,722 (-6%)	9mo	$410,000	$238	67
351 Maple St	0.62mi	3/2.0	1,780 (-3%)	0mo	$570,000	$320	64
500 Ross St	0.66mi	4/2.0 (+1)	1,788 (-2%)	1mo	$615,000	$344	57
11463 Morgan Ave	0.52mi	3/2.0	1,984 (+8%)	4mo	$429,000	$216	57
40936 Micol Dr	0.38mi	3/2.0	1,578 (-14%)	1mo	$380,000	$241	57
40585 Pinetree Dr	0.57mi	3/2.5	1,950 (+6%)	5mo	$383,500	$197	55
543 Hartsough St	0.63mi	2/1.0 (-1)	1,764 (-4%)	4mo	$557,000	$316	54
11807 Francis Ave	0.70mi	4/2.0 (+1)	1,985 (+8%)	1mo	$410,000	$207	46
11665 Francis Ave	0.68mi	4/2.5 (+1)	2,100 (+14%)	0mo	$625,000	$298	35
594 Hartsough St	0.66mi	4/2.0 (+1)	2,056 (+12%)	9mo	$500,000	$243	35

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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-65,996
• Equity at exit: $57,405

10-year hold

• IRR: -8.6%
• Equity multiple: 0.46×
• Total profit: $-58,741
• Equity at exit: $33,288

Cash invested: $107,800 (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 48170

• Rents YoY: 3.4%
• Active inventory: 238
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $3,136 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$373 /mo · $4,480/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$659
• Net cashflow: $-75

Break-even live

Break-even rent $3,231

Max offer price $371,704

Occupancy floor 97%

Sensitivity live

Price	-10% $143	-5% $34	+0% $-75	+5% $-184	+10% $-293
Rent	-10% $-323	-5% $-199	+0% $-75	+5% $49	+10% $172
Rate	-1.0pp $119	-0.5pp $23	base $-75	+0.5pp $-175	+1.0pp $-277

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10703 Barrett Plymouth, MI	3.0	2.5	1917	$3,100	$1.62	45d	1	0.15mi
10633 Barrett Plymouth, MI	3.0	3.5	2047	$4,000	$1.95	45d	1	0.16mi
270 S Mill St Plymouth, MI	3.0	3.5	2060	$5,000	$2.43	6d	1	0.72mi
258 S Mill St Plymouth, MI	3.0	3.5	2417	$3,900	$1.61	16d	1	0.72mi
301 Plymouth Rd Plymouth, MI	1.0–2.0	1.0–2.0	1119	$2,830	$2.53	0d	6	0.93mi
8375 Honeytree Blvd Canton, MI	1.0–4.0	1.0–2.5	1135	$1,740	$1.53	0d	1	1.32mi
760 S Evergreen St Plymouth, MI	3.0	1.5	1808	$3,000	$1.66	6d	1	1.34mi
8485 Forrest Dr Canton, MI	4.0	2.0	1494	$2,150	$1.44	3d	1	1.44mi

Listing history 3 events

1. 2026-06-08
   status $385,000 Pending 3 DOM
2. 2026-06-07
   remarks 683-char remark
3. 2026-06-07
   listed $385,000 Active 3 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: $4,480 · $373/mo
• Projected year-2 tax: $5,205 · $434/mo
• Expected delta: +$724/yr (+$60/mo · 16.2%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,632
• − Mortgage interest: −$21,566
• − Property taxes: −$4,480
• − Insurance: −$1,925
• − Repairs & maintenance: −$3,011
• − Management: −$3,011
• − Depreciation: −$11,200
• Taxable loss: −$7,560
• Est. tax savings @ 24.0%: +$1,814
• After-tax cash flow: $911/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: Plymouth-Canton Community Schools
• NCES district ID: 2628560
• Math proficiency: 58% ▼ -5.00%
• Reading proficiency: 66% ▼ -1.00%
• Median HH income: $82,996
• Composite: 55.86/100
• National rank: #1204
• State rank: #27 of 540 in MI

Livability — Plymouth

• Score: 85/100
• State rank: #25
• US rank: #516

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 40,076
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 40,076
• Household income: $114,278
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 790.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 6% Asian 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 12% Italian 4% Lithuanian 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 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: ▼ -336.77%
• Current HPI: 208.6713
• Rent YoY: ▲ 3.38%
• 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

+42.6% since first listed

18 events — show timeline

• 2026-06-04 Listed $385,000 MiRealSource-MiMLS
• 2026-06-04 Listed $385,000 REALCOMP
• 2002-11-26 Sold (Public Records) $250,000 Public Records
• 2002-10-21 Sold (MLS) $250,000 REALCOMP
• 2002-10-21 Sold (MLS) $250,000 MiRealSource-MiMLS
• 2002-09-17 Listing Removed — MiRealSource-MiMLS
• 2002-08-22 Listing Removed — REALCOMP
• 2002-08-22 Listed $253,900 REALCOMP
• 2002-06-04 Listed $253,900 REALCOMP
• 2002-06-04 Listed $253,900 MiRealSource-MiMLS
• 2002-06-02 Listing Removed — REALCOMP
• 2002-03-26 Listing Removed — REALCOMP
• 2002-03-26 Listed $259,900 REALCOMP
• 2002-02-19 Listing Removed — REALCOMP
• 2002-02-19 Listed $264,900 REALCOMP
• 2002-01-29 Listing Removed — REALCOMP
• 2002-01-29 Listed $269,900 REALCOMP
• 2002-01-02 Listed $269,900 REALCOMP

Property tax history

+3.4%/yr

Latest (2025): $4,480 · +2.7% YoY. Source: county tax records.