28922 Rayburn St · Livonia, MI 48154

$240,000

3 bd · 1.5 ba · 1,363 sqft · SingleFamily public records · 4 Days on market

Built 1965 8,276 sqft lot Est $264k · 9% 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 +11.7/15.0
• Cash flow +9.4/30.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * OFFER DEADLINE SUNDAY 5/17/26 @ 7PM * * * Welcome home to this solid brick ranch full of potential and ready for its next chapter! With great bones and major updates already in place, this 3-bedroom, 1.5-bath home with a 2.5-car garage is the perfect opportunity for a buyer with vision to bring it back to life and make it their own. Inside, you'll find a functional layout throughout including a large kitchen that leads into a family room equipped with a wood burning stove perfect for those cool nights. The spacious three-seasons room offers the perfect spot to enjoy your morning coffee or unwind while overlooking the large fenced backyard, made for summer barbecues, gatherings, pets, or peaceful relaxation. Good sized bedrooms. Plenty of storage space and a finished basement featuring glass block windows - ideal for additional living space, entertaining, a home office, or hobby area. Important updates include a newer roof on the house and garage, plus a brand-new A/C, giving buyers peace of mind while they add their own cosmetic touches and personal style. Whether you're a first-time buyer, investor, or someone looking for a home with strong fundamentals and endless potential, this is an opportunity you won't want to miss! Close proximity to restaurants, schools, expressways, shopping and parks.

Key facts

• Three-seasons room
• Large kitchen
• Finished basement

Tags

• SOLID BRICK RANCH
• LARGE KITCHEN
• WOOD BURNING STOVE
• THREE-SEASONS ROOM
• LARGE FENCED BACKYARD
• FINISHED BASEMENT

Property features AI

Finance

• Other: Pets allowed; Lot approximately 0.19 acres (60 x 139.42); No pool

Exterior

• Parking: Detached garage; Garage faces side; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; One level; Ground-level entry with steps; Brick construction; Asphalt roof
• Construction: Built with brick; Asphalt roof; Finished basement
• Exterior features: Lighting; Enclosed porch; Patio; Porch; Back yard fencing (fenced); Paved road access

Interior

• Kitchen: Free-standing gas range; Gas water heater
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Wood stove heating; Central air conditioning; Ceiling fans
• Interior features: Smart thermostat; Wood burning stove

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-170 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $210k (12.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (29.2% below list).
• Recommended offer: $170k (29.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#116 in MI, #2,784 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D, health & safety D, commute F.
• Livonia Public Schools School District (urban): math 46% / reading 59% proficiency, ranked #77 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 102 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k 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 4 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.

Recommended offer $169,890 (29.2% 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 1965 — 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 B-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: 0.71% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.03%
• DSCR: 0.87
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $264,422
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28871 5 Mile Rd	0.26mi	4/2.0 (+1)	1,371 (+1%)	13mo	$280,000	$204	69
28140 Terrence St	0.54mi	3/2.0	1,339 (-2%)	1mo	$360,000	$269	69
15100 Sunbury St	0.41mi	3/2.0	1,440 (+6%)	4mo	$280,000	$194	66
29537 Greenland St	0.48mi	3/2.5	1,485 (+9%)	2mo	$400,000	$269	57
15174 Cavour St	0.32mi	3/1.0	1,200 (-12%)	10mo	$232,000	$193	54
29736 Puritan St	0.53mi	3/3.0	1,427 (+5%)	11mo	$332,900	$233	52
15914 Deering St	0.56mi	4/1.5 (+1)	1,430 (+5%)	11mo	$255,000	$178	52
15935 Foch St	0.63mi	3/3.5	1,310 (-4%)	10mo	$280,000	$214	48
29257 Barkley St	0.67mi	3/2.5	1,254 (-8%)	8mo	$240,000	$191	44
14931 Lyons St	0.57mi	4/1.5 (+1)	1,567 (+15%)	1mo	$285,000	$182	43
29760 Hoy St	0.60mi	3/1.0	1,166 (-14%)	6mo	$215,000	$184	40
15705 Green Lane Ave	0.68mi	4/2.0 (+1)	1,500 (+10%)	8mo	$260,000	$173	38

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: -21.4%
• Equity multiple: 0.26×
• Total profit: $-49,772
• Equity at exit: $35,785

10-year hold

• IRR: -15.1%
• Equity multiple: 0.14×
• Total profit: $-57,532
• Equity at exit: $20,751

Cash invested: $67,200 (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 48154

• Active inventory: 102
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,699 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$153 /mo · $1,841/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-170

Break-even live

Break-even rent $1,914

Max offer price $209,996

Occupancy floor —

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28940 Lancaster St Livonia, MI	1.0–2.0	1.0	800	$1,365	$1.71	24d	5	0.25mi
31015 Dorais St Livonia, MI	3.0	1.5	1229	$2,495	$2.03	16d	1	1.09mi
18405 Gillman St Livonia, MI	3.0	2.0	1014	$1,950	$1.92	5d	1	1.47mi

Listing history 4 events

1. 2026-05-18
   status Pending 1327-char remark

   Show marketing remark (1327 chars)

   * * * OFFER DEADLINE SUNDAY 5/17/26 @ 7PM * * * Welcome home to this solid brick ranch full of potential and ready for its next chapter! With great bones and major updates already in place, this 3-bedroom, 1.5-bath home with a 2.5-car garage is the perfect opportunity for a buyer with vision to bring it back to life and make it their own. Inside, you'll find a functional layout throughout including a large kitchen that leads into a family room equipped with a wood burning stove perfect for those cool nights. The spacious three-seasons room offers the perfect spot to enjoy your morning coffee or unwind while overlooking the large fenced backyard, made for summer barbecues, gatherings, pets, or peaceful relaxation. Good sized bedrooms. Plenty of storage space and a finished basement featuring glass block windows - ideal for additional living space, entertaining, a home office, or hobby area. Important updates include a newer roof on the house and garage, plus a brand-new A/C, giving buyers peace of mind while they add their own cosmetic touches and personal style. Whether you're a first-time buyer, investor, or someone looking for a home with strong fundamentals and endless potential, this is an opportunity you won't want to miss! Close proximity to restaurants, schools, expressways, shopping and parks.

2. 2026-05-18
   status Pending

   Show marketing remark (1327 chars)

   * * * OFFER DEADLINE SUNDAY 5/17/26 @ 7PM * * * Welcome home to this solid brick ranch full of potential and ready for its next chapter! With great bones and major updates already in place, this 3-bedroom, 1.5-bath home with a 2.5-car garage is the perfect opportunity for a buyer with vision to bring it back to life and make it their own. Inside, you'll find a functional layout throughout including a large kitchen that leads into a family room equipped with a wood burning stove perfect for those cool nights. The spacious three-seasons room offers the perfect spot to enjoy your morning coffee or unwind while overlooking the large fenced backyard, made for summer barbecues, gatherings, pets, or peaceful relaxation. Good sized bedrooms. Plenty of storage space and a finished basement featuring glass block windows - ideal for additional living space, entertaining, a home office, or hobby area. Important updates include a newer roof on the house and garage, plus a brand-new A/C, giving buyers peace of mind while they add their own cosmetic touches and personal style. Whether you're a first-time buyer, investor, or someone looking for a home with strong fundamentals and endless potential, this is an opportunity you won't want to miss! Close proximity to restaurants, schools, expressways, shopping and parks.

3. 2026-05-14
   listed $240,000 Active 1327-char remark

   Show marketing remark (1327 chars)

   * * * OFFER DEADLINE SUNDAY 5/17/26 @ 7PM * * * Welcome home to this solid brick ranch full of potential and ready for its next chapter! With great bones and major updates already in place, this 3-bedroom, 1.5-bath home with a 2.5-car garage is the perfect opportunity for a buyer with vision to bring it back to life and make it their own. Inside, you'll find a functional layout throughout including a large kitchen that leads into a family room equipped with a wood burning stove perfect for those cool nights. The spacious three-seasons room offers the perfect spot to enjoy your morning coffee or unwind while overlooking the large fenced backyard, made for summer barbecues, gatherings, pets, or peaceful relaxation. Good sized bedrooms. Plenty of storage space and a finished basement featuring glass block windows - ideal for additional living space, entertaining, a home office, or hobby area. Important updates include a newer roof on the house and garage, plus a brand-new A/C, giving buyers peace of mind while they add their own cosmetic touches and personal style. Whether you're a first-time buyer, investor, or someone looking for a home with strong fundamentals and endless potential, this is an opportunity you won't want to miss! Close proximity to restaurants, schools, expressways, shopping and parks.

4. 2026-05-14
   listed $240,000 Active

   Show marketing remark (1327 chars)

   * * * OFFER DEADLINE SUNDAY 5/17/26 @ 7PM * * * Welcome home to this solid brick ranch full of potential and ready for its next chapter! With great bones and major updates already in place, this 3-bedroom, 1.5-bath home with a 2.5-car garage is the perfect opportunity for a buyer with vision to bring it back to life and make it their own. Inside, you'll find a functional layout throughout including a large kitchen that leads into a family room equipped with a wood burning stove perfect for those cool nights. The spacious three-seasons room offers the perfect spot to enjoy your morning coffee or unwind while overlooking the large fenced backyard, made for summer barbecues, gatherings, pets, or peaceful relaxation. Good sized bedrooms. Plenty of storage space and a finished basement featuring glass block windows - ideal for additional living space, entertaining, a home office, or hobby area. Important updates include a newer roof on the house and garage, plus a brand-new A/C, giving buyers peace of mind while they add their own cosmetic touches and personal style. Whether you're a first-time buyer, investor, or someone looking for a home with strong fundamentals and endless potential, this is an opportunity you won't want to miss! Close proximity to restaurants, schools, expressways, shopping and parks.

ⓘ 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: $1,841 · $153/mo
• Projected year-2 tax: $2,768 · $231/mo
• Expected delta: +$928/yr (+$77/mo · 50.4%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,387
• − Mortgage interest: −$13,444
• − Property taxes: −$1,841
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,631
• − Management: −$1,631
• − Depreciation: −$6,982
• Taxable loss: −$6,341
• Est. tax savings @ 24.0%: +$1,522
• After-tax cash flow: $-516/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: Livonia Public Schools School District
• NCES district ID: 2621840
• Math proficiency: 46% ▼ -5.00%
• Reading proficiency: 59% ▬ 0.00%
• Median HH income: $65,268
• Composite: 46.27/100
• National rank: #2480
• State rank: #77 of 540 in MI

Livability — Livonia

• Score: 77/100
• State rank: #116
• US rank: #2784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Livonia, MI
• City population: 56,806
• Population (ZIP): 36,915

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 4% Black 4% Asian 2%
• Common ancestry: Romanian 13% Lithuanian 4% Italian 3%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Other Indo-European 3% Arabic 2% Spanish 2%

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: ▼ -263.93%
• Current HPI: 192.3426
• Rent YoY: —
• Metro: —
• 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

4 events — show timeline

• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-18 Pending — REALCOMP
• 2026-05-14 Listed $240,000 REALCOMP
• 2026-05-14 Listed $240,000 MiRealSource-MiMLS

Property tax history

-2.4%/yr

Latest (2025): $1,841 · -44.2% YoY. Source: county tax records.