3676 Farnum St · Inkster, MI 48141

$90,000

3 bd · 1.5 ba · 1,012 sqft · SingleFamily public records · 9 Days on market

Built 1963 0.25 ac lot $89/sqft · 32% below area Est $133k · 32% under

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Why this score? — see what drove the B+ 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 +29.6/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This solid-boned brick ranch presents a great opportunity for investors and visionaries to execute a complete transformation. Situated on a quarter-acre corner lot, the property offers a classic footprint and a durable brick exterior, anchored by the significant value-add of a newer roof and an attached garage. This is a true blank canvas requiring a full-scale rehab, including the electrical and plumbing systems, along with all-new interior finishes to bring the home back to its full potential. The project scope includes remediation of water damage in both the main floor and the basement, providing a unique chance to reconfigure the layout and design a modern, open-concept living space from the ground up. The oversized lot offers ample room for enhanced curb appeal and outdoor entertaining areas, ensuring it will stand out in the market. Buyer to assume all municipal repairs and obtain closing letter from the building dept. Sale is subject to probate court approval-Estate Sale.

Key facts

• 0.25 acre lot
• Garage
• Built 1963

Property features AI

Finance

• Other: Lot approximately 0.25 acres (80 x 135.01); Subdivision: DAVID GRIFFIN URBAN RENEWAL REP
• Financial info: Annual taxes listed

Exterior

• Parking: Attached garage with direct access and garage door opener; 1 garage space
• Utilities: Public water; Public sewer; Paved road access
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick exterior
• Construction: Brick construction
• Exterior features: Patio; Porch; Fenced backyard

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Unfinished basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

Location & tenants

• Location reads 67/100 on livability (#406 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety 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: Rents rising (+3.0%/yr); 146 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 42% of the median local income ($39k/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 $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.52% ✓
• Cap rate: 10.63%
• Cash-on-cash: 15.50%
• DSCR: 1.69
• GRM: 5.5

CMA / ARV

• ARV (median comp): $132,905
• List price: $90,000
• Delta: -32.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3913 Farnum St	0.12mi	3/1.5	1,075 (+6%)	3mo	$120,000	$112	82
29015 York St	0.53mi	3/1.0	1,061 (+5%)	2mo	$125,000	$118	63
29006 Eton St	0.66mi	3/1.0	1,014 (+0%)	5mo	$140,000	$138	63
4675 Julius Blvd	0.59mi	3/2.0	1,061 (+5%)	1mo	$200,000	$189	62
28943 Eton St	0.71mi	3/1.0	1,014 (+0%)	4mo	$149,000	$147	61
3543 Spring Hill Ave	0.44mi	3/1.0	1,097 (+8%)	3mo	$108,000	$98	61
4115 Wayland Ct	0.30mi	3/2.0	1,140 (+13%)	5mo	$130,000	$114	59
4052 Burton St	0.29mi	3/1.0	1,161 (+15%)	4mo	$110,000	$95	56
3829 Walnut St	0.66mi	3/1.0	1,070 (+6%)	2mo	$128,000	$120	56
3579 Ash St	0.70mi	4/1.0 (+1)	1,050 (+4%)	1mo	$140,000	$133	53
3135 Harrison St	0.68mi	2/1.0 (-1)	1,049 (+4%)	4mo	$47,000	$45	52
4705 S Middlebelt Rd	0.59mi	4/1.0 (+1)	1,092 (+8%)	4mo	$140,000	$128	48

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.25×
• Total profit: $6,178
• Equity at exit: $13,419

10-year hold

• IRR: 15.7%
• Equity multiple: 2.28×
• Total profit: $32,200
• Equity at exit: $7,782

Cash invested: $25,200 (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 48141

• Home prices YoY: -2.9%
• Rents YoY: 3.0%
• Active inventory: 146
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,365 high
• Mortgage (P&I): −$472
• Tax from tax record: −$243 /mo · $2,916/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $325

Break-even live

Break-even rent $953

Max offer price $90,000

Occupancy floor 71%

Sensitivity live

Price	-10% $376	-5% $351	+0% $325	+5% $300	+10% $275
Rent	-10% $218	-5% $272	+0% $325	+5% $379	+10% $433
Rate	-1.0pp $371	-0.5pp $348	base $325	+0.5pp $302	+1.0pp $278

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4080 Isabelle St Inkster, MI	4.0	1.0	975	$1,150	$1.18	16d	1	0.56mi
4167 Isabelle St Inkster, MI	2.0	1.0	900	$1,295	$1.44	18d	1	0.61mi
4301 Harriet St Unit A-1 Inkster, MI	2.0	1.5	1000	$1,300	$1.30	45d	1	0.69mi
3236 Walnut St Inkster, MI	3.0	1.0	1096	$1,495	$1.36	0d	1	0.69mi
29971 Brooklane St Inkster, MI	3.0	1.0	974	$1,450	$1.49	45d	1	0.89mi
27139 Penn St Inkster, MI	3.0	1.0	832	$675	$0.81	18d	1	1.25mi
31820 Bay Ct Westland, MI	2.0	1.0	834	$1,125	$1.35	18d	1	1.26mi
31809 Tuscola Ct Westland, MI	3.0	1.0	1078	$1,400	$1.30	0d	1	1.27mi
30010 Hazelwood St Inkster, MI	3.0	1.0	1044	$1,300	$1.25	45d	1	1.29mi
29203 Oakwood St Inkster, MI	3.0	1.5	912	$1,600	$1.75	0d	1	1.38mi
29800 Oakwood St Inkster, MI	3.0	1.0	1040	$1,400	$1.35	13d	1	1.40mi
1150 Magnolia Dr Inkster, MI	3.0	1.0	900	$1,300	$1.44	25d	1	1.49mi
26742 Penn St Inkster, MI	3.0	1.0	1000	$1,300	$1.30	18d	1	1.49mi

Listing history 3 events

1. 2026-05-14
   listed $90,000 Active 993-char remark

   Show marketing remark (993 chars)

   This solid-boned brick ranch presents a great opportunity for investors and visionaries to execute a complete transformation. Situated on a quarter-acre corner lot, the property offers a classic footprint and a durable brick exterior, anchored by the significant value-add of a newer roof and an attached garage. This is a true blank canvas requiring a full-scale rehab, including the electrical and plumbing systems, along with all-new interior finishes to bring the home back to its full potential. The project scope includes remediation of water damage in both the main floor and the basement, providing a unique chance to reconfigure the layout and design a modern, open-concept living space from the ground up. The oversized lot offers ample room for enhanced curb appeal and outdoor entertaining areas, ensuring it will stand out in the market. Buyer to assume all municipal repairs and obtain closing letter from the building dept. Sale is subject to probate court approval-Estate Sale.

2. 2026-05-14
   listed $90,000 Active 993-char remark

   Show marketing remark (993 chars)

   This solid-boned brick ranch presents a great opportunity for investors and visionaries to execute a complete transformation. Situated on a quarter-acre corner lot, the property offers a classic footprint and a durable brick exterior, anchored by the significant value-add of a newer roof and an attached garage. This is a true blank canvas requiring a full-scale rehab, including the electrical and plumbing systems, along with all-new interior finishes to bring the home back to its full potential. The project scope includes remediation of water damage in both the main floor and the basement, providing a unique chance to reconfigure the layout and design a modern, open-concept living space from the ground up. The oversized lot offers ample room for enhanced curb appeal and outdoor entertaining areas, ensuring it will stand out in the market. Buyer to assume all municipal repairs and obtain closing letter from the building dept. Sale is subject to probate court approval-Estate Sale.

3. 2026-05-13
   historical $90,000 993-char remark

   Show marketing remark (993 chars)

   This solid-boned brick ranch presents a great opportunity for investors and visionaries to execute a complete transformation. Situated on a quarter-acre corner lot, the property offers a classic footprint and a durable brick exterior, anchored by the significant value-add of a newer roof and an attached garage. This is a true blank canvas requiring a full-scale rehab, including the electrical and plumbing systems, along with all-new interior finishes to bring the home back to its full potential. The project scope includes remediation of water damage in both the main floor and the basement, providing a unique chance to reconfigure the layout and design a modern, open-concept living space from the ground up. The oversized lot offers ample room for enhanced curb appeal and outdoor entertaining areas, ensuring it will stand out in the market. Buyer to assume all municipal repairs and obtain closing letter from the building dept. Sale is subject to probate court approval-Estate Sale.

ⓘ 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: $2,916 · $243/mo
• Projected year-2 tax: $2,916 · $243/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 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: $16,374
• − Mortgage interest: −$5,041
• − Property taxes: −$2,916
• − Insurance: −$450
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$2,618
• Taxable income: $2,728
• Est. tax owed @ 24.0%: −$655
• After-tax cash flow: $3,251/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 — Inkster

• Score: 67/100
• State rank: #406
• US rank: #11087

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Inkster, MI
• County: Wayne County · 1,562,939 people
• City population: 25,428
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 25,428
• Household income: $39,252
• Rent vs Own: 53.2% rent · 46.8% own
• Severe rent burden: 1558.0

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 Black (72%)
• Race & ethnicity: Black 72% White 17% Two or more races 7% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Arabic 3% Other Asian/Pacific 1% Spanish 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: ▼ -11.74%
• Current HPI: 390.2139
• Rent YoY: ▲ 2.95%
• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-22 Pending — MiRealSource-MiMLS
• 2026-05-22 Pending — REALCOMP
• 2026-05-14 Listed $90,000 MiRealSource-MiMLS
• 2026-05-14 Listed $90,000 REALCOMP
• 2026-05-13 Coming Soon $90,000 MiRealSource-MiMLS

Property tax history

-2.5%/yr

Latest (2025): $2,916 · +40.4% YoY. Source: county tax records.