27620 Newcastle St · Romulus, MI 48174

$120,000

3 bd · 1.0 ba · 770 sqft · SingleFamily public records · 22 Days on market

Built 1937 0.41 ac lot Est $136k · 11% under

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Why this score? — see what drove the C+ 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 +24.4/30.0
• ARV discount +12.7/15.0
• DSCR +7.9/10.0
• 1% rule +6.9/10.0
• 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

Listing remarks MLS

Welcome home to a newly remodeled 3 bedroom 1 bath ranch home on almost 1 acre. Stainless steel appliances in the kitchen with plenty of cabinets. Freshly painted interior and exterior. Brand new driveway. Great big backyard and the lot is fenced. Call today!

Key facts

• Big backyard
• Brand new driveway
• Plenty of cabinets

Tags

• STAINLESS STEEL APPLIANCES
• PLENTY OF CABINETS
• BRAND NEW DRIVEWAY
• BIG BACKYARD
• FENCED LOT

Property features AI

Finance

• Other: Residential property; Subdivision: SUPERVISORS ROMULUS PLAT NO 13; Directions: North of Ecorse, west of Inkster; cross street Ecorse and Inkster

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry
• Construction: Vinyl siding
• Exterior features: Paved road access; Lot roughly 0.41 acres (60 x 300 feet)

Interior

• Kitchen: Dishwasher; Disposal; Free-standing electric oven; Free-standing refrigerator
• Bedrooms: 5 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Dishwasher; Disposal; Free-standing electric oven; Free-standing refrigerator; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 1 comparable units currently listed for rent nearby; 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 $830 of loan paydown is wiped out by about $4k 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 22 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 3y 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 $34k; list at $120k implies a 253% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1937 — 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. 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: 1.19% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.68%
• DSCR: 1.39
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $135,520
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6740 Birchdale St	0.19mi	2/1.0 (-1)	759 (-1%)	7mo	$141,000	$186	78
5940 Daniels St	0.74mi	2/1.0 (-1)	833 (+8%)	3mo	$146,999	$176	44
6349 Hazel St	0.61mi	2/1.0 (-1)	688 (-11%)	24mo	$105,000	$153	29
6219 Wellington St	0.52mi	2/1.0 (-1)	883 (+15%)	22mo	$140,500	$159	28

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-3,912
• Equity at exit: $17,892

10-year hold

• IRR: 6.6%
• Equity multiple: 1.50×
• Total profit: $16,742
• Equity at exit: $10,375

Cash invested: $33,600 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,423 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$202 /mo · $2,421/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $243

Break-even live

Break-even rent $1,115

Max offer price $120,000

Occupancy floor 78%

Sensitivity live

Price	-10% $311	-5% $277	+0% $243	+5% $209	+10% $175
Rent	-10% $131	-5% $187	+0% $243	+5% $299	+10% $355
Rate	-1.0pp $303	-0.5pp $274	base $243	+0.5pp $212	+1.0pp $180

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4301 Harriet St Unit A-1 Inkster, MI	2.0	1.5	1000	$1,300	$1.30	44d	1	1.48mi

Listing history 38 events

1. 2026-06-18
   days on market $120,000 Active 22 DOM
2. 2026-06-17
   days on market $120,000 Active 21 DOM
3. 2026-06-16
   days on market $120,000 Active 20 DOM
4. 2026-06-15
   days on market $120,000 Active 19 DOM
5. 2026-06-13
   days on market $120,000 Active 17 DOM
6. 2026-06-13
   days on market $120,000 Active 16 DOM
7. 2026-06-09
   days on market $120,000 Active 13 DOM
8. 2026-06-08
   days on market $120,000 Active 12 DOM
9. 2026-06-07
   days on market $120,000 Active 11 DOM
10. 2026-06-04
    days on market $120,000 Active 8 DOM
11. 2026-06-03
    days on market $120,000 Active 7 DOM
12. 2026-06-02
    days on market $120,000 Active 6 DOM
13. 2026-06-01
    days on market $120,000 Active 5 DOM
14. 2026-05-31
    days on market $120,000 Active 4 DOM
15. 2026-05-28
    listed $120,000 Active
16. 2026-05-27
    listed $120,000 Active 259-char remark

    Show marketing remark (259 chars)

    Welcome home to a newly remodeled 3 bedroom 1 bath ranch home on almost 1 acre. Stainless steel appliances in the kitchen with plenty of cabinets. Freshly painted interior and exterior. Brand new driveway. Great big backyard and the lot is fenced. Call today!

17. 2025-01-13
    historical
18. 2025-01-13
    historical
19. 2024-11-13
    price $119,900
20. 2024-11-12
    price $119,900
21. 2024-11-04
    listed $129,900 Active
22. 2024-11-04
    listed $129,900 Active
23. 2024-04-19
    soldstatus $34,000 Sold
24. 2024-04-19
    soldstatus $34,000 Closed
25. 2024-03-20
    status Pending
26. 2024-03-20
    status Pending
27. 2024-03-15
    listed $44,999 Active
28. 2024-03-15
    historical
29. 2024-03-15
    listed $44,999 Active
30. 2024-03-15
    historical
31. 2024-01-25
    listed $54,999 Active
32. 2024-01-25
    listed $54,999 Active
33. 2023-12-23
    status Pending
34. 2023-12-23
    status Pending
35. 2023-12-23
    historical
36. 2023-12-23
    historical
37. 2023-12-18
    listed $54,999 Active
38. 2023-12-13
    listed $54,999 Active

ⓘ 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: $2,421 · $202/mo
• Projected year-2 tax: $2,421 · $202/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,075
• − Mortgage interest: −$6,722
• − Property taxes: −$2,421
• − Insurance: −$600
• − Repairs & maintenance: −$1,366
• − Management: −$1,366
• − Depreciation: −$3,491
• Taxable income: $1,109
• Est. tax owed @ 24.0%: −$266
• After-tax cash flow: $2,650/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

+118.2% since first listed

24 events — show timeline

• 2026-05-28 Listed $120,000 REALCOMP
• 2026-05-27 Listed $120,000 MiRealSource-MiMLS
• 2025-01-13 Listing Removed — REALCOMP
• 2025-01-13 Listing Removed — MiRealSource-MiMLS
• 2024-11-13 Price Changed $119,900 MiRealSource-MiMLS
• 2024-11-12 Price Changed $119,900 REALCOMP
• 2024-11-04 Listed $129,900 REALCOMP
• 2024-11-04 Listed $129,900 MiRealSource-MiMLS
• 2024-04-19 Sold (MLS) $34,000 MiRealSource-MiMLS
• 2024-04-19 Sold (MLS) $34,000 REALCOMP
• 2024-03-20 Pending — MiRealSource-MiMLS
• 2024-03-20 Pending — REALCOMP
• 2024-03-15 Listing Removed — MiRealSource-MiMLS
• 2024-03-15 Listed $44,999 MiRealSource-MiMLS
• 2024-03-15 Listing Removed — REALCOMP
• 2024-03-15 Listed $44,999 REALCOMP
• 2024-01-25 Listed $54,999 MiRealSource-MiMLS
• 2024-01-25 Listed $54,999 REALCOMP
• 2023-12-23 Pending — MiRealSource-MiMLS
• 2023-12-23 Pending — REALCOMP
• 2023-12-23 Listing Removed — MiRealSource-MiMLS
• 2023-12-23 Listing Removed — REALCOMP
• 2023-12-18 Listed $54,999 REALCOMP
• 2023-12-13 Listed $54,999 MiRealSource-MiMLS

Property tax history

+10.5%/yr

Latest (2025): $2,421 · +145.9% YoY. Source: county tax records.