4300 Edmund St · Wayne, MI 48184

$180,000

3 bd · 1.0 ba · 1,065 sqft · SingleFamily public records · 11 Days on market

Built 1952 5,663 sqft lot Est $164k · 10% over

---

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 +8.6/30.0
• Livability +3.6/5.0
• ARV discount +3.1/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +2.1/10.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming 3-bedroom, 1-bath bungalow featuring low-maintenance vinyl siding, a fenced-in yard, and all the cozy character you've been looking for. Conveniently located near downtown Wayne and major roadways, this home is the perfect starter home or opportunity to make your own.

Key facts

• Near downtown wayne
• Vinyl siding
• Fenced-in yard

Tags

• VINYL SIDING
• FENCED-IN YARD
• NEAR DOWNTOWN WAYNE

Property features AI

Finance

• Other: Above-grade finished area listed as 1,065 square feet; Below-grade finished area listed as 600 square feet

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Paved road access; Lot approximately 0.13 acres (40 x 143); Subdivision: THE SOUTH ADD BLK 13; Ground-level entry with steps

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central air conditioning
• Interior features: Partially finished basement; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-155 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (28.9% below list).
• Recommended offer: $128k (28.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#252 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment D-.
• Wayne-Westland Community School District (suburban): math 11% / reading 27% proficiency, ranked #474 of 540 in MI (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 58 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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 $79k; list at $180k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,941 (28.9% 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 1952 — 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 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.71% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.68%
• DSCR: 0.84
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $164,010
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34918 Winslow St	0.32mi	3/1.0	1,058 (-1%)	1mo	$147,000	$139	83
4004 Howe Rd	0.25mi	3/2.0	1,104 (+4%)	2mo	$152,000	$138	77
4052 Howe Rd	0.24mi	3/2.0	1,104 (+4%)	3mo	$155,000	$140	76
33988 Richard St	0.35mi	3/1.0	1,022 (-4%)	4mo	$180,000	$176	74
34084 Currier St	0.48mi	3/1.0	1,014 (-5%)	4mo	$170,700	$168	67
34441 Phyllis St	0.62mi	3/1.0	1,040 (-2%)	2mo	$190,000	$183	66
4173 Columbus St	0.17mi	2/1.0 (-1)	918 (-14%)	3mo	$110,000	$120	61
34948 Richard St	0.41mi	3/1.0	920 (-14%)	1mo	$160,000	$174	57
34321 John St	0.38mi	3/1.0	1,222 (+15%)	1mo	$160,000	$131	57
34512 Ash St	0.66mi	3/1.0	1,150 (+8%)	1mo	$175,000	$152	55
4453 Newberry St	0.49mi	3/1.5	1,194 (+12%)	3mo	$210,000	$176	53
34812 Ash St	0.69mi	2/2.0 (-1)	972 (-9%)	1mo	$149,900	$154	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: 0.23×
• Total profit: $-39,042
• Equity at exit: $26,839

10-year hold

• IRR: -16.8%
• Equity multiple: 0.07×
• Total profit: $-46,793
• Equity at exit: $15,563

Cash invested: $50,400 (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 48184

• Active inventory: 58
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,279 high
• Mortgage (P&I): −$944
• Tax from tax record: −$146 /mo · $1,757/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $-155

Break-even live

Break-even rent $1,475

Max offer price $152,692

Occupancy floor —

Sensitivity live

Price	-10% $-53	-5% $-104	+0% $-155	+5% $-206	+10% $-256
Rent	-10% $-256	-5% $-205	+0% $-155	+5% $-104	+10% $-54
Rate	-1.0pp $-64	-0.5pp $-109	base $-155	+0.5pp $-201	+1.0pp $-249

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34639 Brush St Wayne, MI	2.0	1.0	780	$1,200	$1.54	44d	1	0.29mi
4924 Howe Rd Wayne, MI	3.0	1.0	1022	$1,300	$1.27	18d	1	0.33mi
4332 Biddle St Wayne, MI	3.0	2.0	1176	$1,525	$1.30	44d	1	0.43mi
34420 Sims St Unit 14 Wayne, MI	2.0	1.0	800	$900	$1.12	44d	1	0.46mi
34420 Sims St Unit 11 Wayne, MI	2.0	1.0	800	$849	$1.06	6d	1	0.46mi
3741 S Wayne Rd Wayne, MI	2.0	1.5	1114	$1,500	$1.35	0d	1	0.46mi
5672 Howe Rd Unit 15 Wayne, MI	2.0	1.0	700	$850	$1.21	19d	1	0.60mi
34510 Van Born Rd Wayne, MI	2.0	1.0	990	$1,325	$1.34	15d	1	0.61mi
33095 Forest St Wayne, MI	1.0–2.0	1.0	815	$1,142	$1.40	3d	5	0.61mi
35505 E Michigan Ave Unit 1 Wayne, MI	2.0	1.0	780	$775	$0.99	44d	1	0.65mi
35390 Van Born Rd #103 Wayne, MI	2.0	1.0	925	$1,100	$1.19	44d	1	0.76mi
35700 E Michigan Ave Wayne, MI	2.0	1.0	701	$1,060	$1.51	6d	6	0.78mi
5228 Fletcher St Wayne, MI	3.0	1.0	900	$1,750	$1.94	0d	1	0.89mi
34630 Glenwood Rd Westland, MI	2.0	1.0	710	$1,150	$1.62	44d	1	0.92mi
33000 Parkhill St Wayne, MI	1.0–2.0	1.0–1.5	800	$1,240	$1.55	25d	1	1.00mi
34039 Cambria Ct Westland, MI	2.0	1.0	836	$1,395	$1.67	44d	1	1.02mi
2310 Deerfield Ct Westland, MI	3.0	1.5	1100	$1,125	$1.02	44d	1	1.13mi
35759 Glenwood Rd Unit 35759 Wayne, MI	2.0	1.0	1360	$1,300	$0.96	44d	1	1.14mi
33507 Berville Ct Westland, MI	2.0	1.5	907	$1,350	$1.49	3d	1	1.15mi
2264 Delton Ct Westland, MI	3.0	1.5	1076	$1,300	$1.21	15d	1	1.15mi
32860 Mecosta St Unit 1 Westland, MI	2.0	1.0	900	$1,200	$1.33	44d	1	1.22mi
32860 Mecosta St Westland, MI	2.0	1.0	1000	$1,150	$1.15	44d	1	1.22mi
2040 Dryden St Westland, MI	3.0	1.0	1100	$1,150	$1.05	19d	1	1.23mi
2036 Alberta St Westland, MI	3.0	1.0	936	$1,325	$1.42	44d	1	1.37mi

Listing history 6 events

1. 2026-05-17
   listed $180,000 Active

   Show marketing remark (298 chars)

   Welcome home to this charming 3-bedroom, 1-bath bungalow featuring low-maintenance vinyl siding, a fenced-in yard, and all the cozy character you've been looking for. Conveniently located near downtown Wayne and major roadways, this home is the perfect starter home or opportunity to make your own.

2. 2026-05-17
   listed $180,000 Active 298-char remark

   Show marketing remark (298 chars)

   Welcome home to this charming 3-bedroom, 1-bath bungalow featuring low-maintenance vinyl siding, a fenced-in yard, and all the cozy character you've been looking for. Conveniently located near downtown Wayne and major roadways, this home is the perfect starter home or opportunity to make your own.

3. 2009-11-23
   soldstatus $79,000
4. 2009-08-31
   soldstatus $79,000 430-char remark

   Show marketing remark (430 chars)

   Enjoy the Craftmenship of your own Victorian style Bungalow! See what Charm and Beauty that can't be found in your average home. Dimentional singles, energy efficient windows, covered patio, huge garage Sorry that their is no carpet in this home, we have hardwood, ceramic thru out. The Kitchen has granite countertops and Upper End Cabinets and Fixtures. Appliances included. TRADE/EXCHANGE AVAILABLE for Land, Lot, Cottage, or ?

5. 2009-03-24
   listed $84,990 430-char remark

   Show marketing remark (430 chars)

   Enjoy the Craftmenship of your own Victorian style Bungalow! See what Charm and Beauty that can't be found in your average home. Dimentional singles, energy efficient windows, covered patio, huge garage Sorry that their is no carpet in this home, we have hardwood, ceramic thru out. The Kitchen has granite countertops and Upper End Cabinets and Fixtures. Appliances included. TRADE/EXCHANGE AVAILABLE for Land, Lot, Cottage, or ?

6. 1996-01-23
   soldstatus $40,000

ⓘ 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: $1,757 · $146/mo
• Projected year-2 tax: $2,264 · $189/mo
• Expected delta: +$508/yr (+$42/mo · 28.9%)

ⓘ 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 2/10 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: $15,353
• − Mortgage interest: −$10,083
• − Property taxes: −$1,757
• − Insurance: −$900
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$5,236
• Taxable loss: −$5,079
• Est. tax savings @ 24.0%: +$1,219
• After-tax cash flow: $-636/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: Wayne-Westland Community School District
• NCES district ID: 2600015
• Math proficiency: 11% ▼ -6.00%
• Reading proficiency: 27% ▼ -2.00%
• Median HH income: $43,524
• Composite: 16.4/100
• National rank: #9195
• State rank: #474 of 540 in MI

Livability — Wayne

• Score: 72/100
• State rank: #252
• US rank: #6284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wayne, MI
• County: Wayne County · 1,562,939 people
• City population: 17,348
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,348
• Household income: $59,171
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 720.0

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 0.56)
• Race & ethnicity: White 61% Black 25% Two or more races 7% Hispanic / Latino 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 7% Lithuanian 3% Italian 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -171.12%
• Current HPI: 217.8548
• 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

+350.0% since first listed

6 events — show timeline

• 2026-05-17 Listed $180,000 REALCOMP
• 2026-05-17 Listed $180,000 MiRealSource-MiMLS
• 2009-11-23 Sold (Public Records) $79,000 Public Records
• 2009-08-31 Sold (MLS) $79,000 REALCOMP
• 2009-03-24 Listed $84,990 REALCOMP
• 1996-01-23 Sold (Public Records) $40,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $1,757 · -15.6% YoY. Source: county tax records.