1097 Ann Arbor Rd W · Plymouth, MI 48170

$375,000

2 bd · 2.0 ba · 1,831 sqft · Condo public records · 9 Days on market

Built 2004

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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).

• Cash flow +8.6/30.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful townhouse in Plymouth, just minutes from downtown!This move-in-ready home features 2 bedrooms, 2.5 bathrooms, and a complete renovation completed in 2020. The updated kitchen boasts modern cabinetry, new appliances, and stylish finishes, while all bathrooms have been thoughtfully remodeled. New flooring throughout the home adds a fresh, contemporary feel. Major updates include a new air conditioning system installed in 2020, as well as a newly insulated garage with updated flooring. The association replaced the roof in 2023, and brand-new Trex balconies were installed in 2025, providing low-maintenance outdoor living. Enjoy the perfect combination of comfort, convenience, and modern updates in a prime Plymouth location close to shops, restaurants, and all that downtown has to offer. Make this beautiful home yours today!

Key facts

• Complete renovation
• New flooring
• New appliances

Tags

• COMPLETE RENOVATION
• UPDATED KITCHEN
• NEW APPLIANCES
• NEW FLOORING
• NEW AIR CONDITIONING SYSTEM
• NEWLY INSULATED GARAGE

Property features AI

Finance

• HOA & community: Association (HOA) — includes water

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Natural gas water heater
• Home design: Colonial style; Residential condominium
• Construction: Built in 2004; Brick construction; Asphalt roof
• Exterior features: Public water

Interior

• Kitchen: Kitchen (11 x 9); Dishwasher; Disposal; Microwave; Oven; Refrigerator
• Bedrooms: Primary bedroom (10 x 19); Bedroom 2 (9 x 14); Office (11 x 13)
• Bathrooms: 2 full bathrooms; 1 half bathroom; Primary bathroom (8 x 6); Bathroom 1 (4 x 5); Bathroom 2 (8 x 6)
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 8 total rooms; Slab basement
• Laundry & utility: Laundry room (8 x 7); Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $375k.

Deal economics

• At list price, monthly cash flow is $-324 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $353k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $297k (20.9% below list).
• Recommended offer: $297k (20.9% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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: Smith Elementary School (math 67% / reading 72%, grade A-, #74 of 1,397 statewide, top 7%, 343 students, 10% FRL); West Middle School (math 63% / reading 68%, grade A-, #36 of 493 statewide, top 7%, 675 students, 18% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 238 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 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 31% 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 $11k 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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 20y 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 $215k; list at $375k implies a 74% gain — meaningful room to come down on a strong offer.

Recommended offer $296,627 (20.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.79% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.70%
• DSCR: 0.84
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.38% rent growth · sell at horizon

5-year hold

• IRR: -22.0%
• Equity multiple: 0.24×
• Total profit: $-80,164
• Equity at exit: $55,914

10-year hold

• IRR: -15.0%
• Equity multiple: 0.13×
• Total profit: $-91,289
• Equity at exit: $32,423

Cash invested: $105,000 (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: 10.5×

Monthly cashflow live

• Estimated rent: $2,966 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$345 /mo · $4,145/yr
• Insurance: −$156
• HOA est. from 1 same-building comp: −$199
• Vacancy / Maint / Mgmt: −$623
• Net cashflow: $-324

Break-even live

Break-even rent $3,376

Max offer price $317,786

Occupancy floor —

Sensitivity live

Price	-10% $-112	-5% $-218	+0% $-324	+5% $-430	+10% $-536
Rent	-10% $-558	-5% $-441	+0% $-324	+5% $-207	+10% $-90
Rate	-1.0pp $-135	-0.5pp $-228	base $-324	+0.5pp $-421	+1.0pp $-520

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
760 S Evergreen St Plymouth, MI	3.0	1.5	1808	$3,000	$1.66	6d	1	0.54mi
10633 Barrett Plymouth, MI	3.0	3.5	2047	$4,000	$1.95	45d	1	1.15mi
10703 Barrett Plymouth, MI	3.0	2.5	1917	$3,100	$1.62	45d	1	1.15mi
270 S Mill St Plymouth, MI	3.0	3.5	2060	$5,000	$2.43	6d	1	1.26mi
258 S Mill St Plymouth, MI	3.0	3.5	2417	$3,900	$1.61	16d	1	1.26mi
7620 N Lilley Rd Canton, MI	2.0	2.5	1300	$2,376	$1.83	4d	1	1.41mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-21
   days on market $375,000 Active 9 DOM
2. 2026-06-18
   days on market $375,000 Active 6 DOM
3. 2026-06-17
   days on market $375,000 Active 5 DOM
4. 2026-06-16
   days on market $375,000 Active 4 DOM
5. 2026-06-15
   days on market $375,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $375,000 Active 1 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: $4,145 · $345/mo
• Projected year-2 tax: $4,960 · $413/mo
• Expected delta: +$815/yr (+$68/mo · 19.7%)

ⓘ 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 · 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: $35,595
• − Mortgage interest: −$21,006
• − Property taxes: −$4,145
• − Insurance: −$1,875
• − Repairs & maintenance: −$2,848
• − Management: −$2,848
• − HOA: −$2,388
• − Depreciation: −$10,909
• Taxable loss: −$10,423
• Est. tax savings @ 24.0%: +$2,502
• After-tax cash flow: $-1,385/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

+108.4% since first listed

30 events — show timeline

• 2026-06-12 Listed $375,000 REALCOMP
• 2026-06-12 Listed $375,000 SW Michigan MLS
• 2026-06-12 Listed $375,000 MiRealSource-MiMLS
• 2026-06-10 Coming Soon $375,000 MiRealSource-MiMLS
• 2026-06-10 Coming Soon $375,000 SW Michigan MLS
• 2020-06-16 Sold (Public Records) $215,000 Public Records
• 2020-06-09 Sold (MLS) $215,000 MiRealSource-MiMLS
• 2020-06-09 Sold (MLS) $215,000 REALCOMP
• 2020-05-07 Pending — MiRealSource-MiMLS
• 2020-05-07 Pending — REALCOMP
• 2020-05-04 Contingent — MiRealSource-MiMLS
• 2020-05-04 Contingent — REALCOMP
• 2020-04-09 Price Changed $219,900 MiRealSource-MiMLS
• 2020-04-09 Price Changed $219,900 REALCOMP
• 2020-03-17 Price Changed $223,000 MiRealSource-MiMLS
• 2020-03-16 Price Changed $223,000 REALCOMP
• 2020-03-16 Relisted — MiRealSource-MiMLS
• 2020-03-16 Relisted — REALCOMP
• 2020-03-09 Pending — MiRealSource-MiMLS
• 2020-03-09 Pending — REALCOMP
• 2020-02-11 Listed $229,900 MiRealSource-MiMLS
• 2020-02-11 Listed $229,900 REALCOMP
• 2007-01-29 Sold (MLS) $145,000 MiRealSource-MiMLS
• 2007-01-29 Sold (MLS) $145,000 REALCOMP
• 2006-12-26 Listing Removed — MiRealSource-MiMLS
• 2006-08-24 Listed $145,000 MiRealSource-MiMLS
• 2006-08-24 Listed $145,000 REALCOMP
• 2006-08-17 Listing Removed — REALCOMP
• 2006-06-26 Listed $179,900 REALCOMP
• 2006-06-26 Listed $179,900 MiRealSource-MiMLS

Property tax history

+8.4%/yr

Latest (2025): $4,145 · +2.7% YoY. Source: county tax records.