31546 Alpena Ct · Westland, MI 48186

$225,000

4 bd · 2.0 ba · 1,728 sqft · MultiFamily public records · 35 Days on market

Built 1942 6,534 sqft lot Est $159k · 41% over

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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 +22.5/30.0
• DSCR +7.2/10.0
• 1% rule +5.8/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Sold off market, input for comps

Key facts

• 6,534 sq ft lot
• 2 parking spots
• Built 1942

Property features AI

Finance

• Other: Listing broker: Preferred, Realtors Ltd; Listing agent: Keith Jourdan

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Multi-family residential income property; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Lot approximately 6,534 sq ft (0.15 acres); Located near Merriman and Palmer; cross streets Dorsey Rd & S Merriman Rd

Interior

• Bedrooms: Two 2-bedroom units (one vacant, one tenant-occupied)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced-air heating; Natural gas heating
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.5% in Westland — 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 77/100 on livability (#124 in MI, #3,067 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, employment C-, crime 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: Rents rising (+3.3%/yr); 146 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 45% of the median local income ($65k/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 $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

• It's been on market 35 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 9y ago; this cycle's ask is 20355% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $147k; list at $225k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — 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 D-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 D 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 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: 1.08% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.22%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (median comp): $159,327
• List price: $225,000
• Delta: 41.22%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31563 Alpena Ct	0.06mi	4/2.0	1,728 (0%)	12mo	$80,000	$46	87
31607-31609 Antrim	0.13mi	4/2.5	1,728 (0%)	22mo	$170,000	$98	74
31954-31956 Charlevoix	0.28mi	4/2.0	1,787 (+3%)	19mo	$169,000	$95	65
33116-33118 Alberta St	0.70mi	4/2.0	1,812 (+5%)	12mo	$170,000	$94	49
33117 Alberta St	0.72mi	4/2.0	1,812 (+5%)	14mo	$152,000	$84	47

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 · 3.28% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.82×
• Total profit: $-11,590
• Equity at exit: $33,548

10-year hold

• IRR: 5.1%
• Equity multiple: 1.38×
• Total profit: $23,951
• Equity at exit: $19,454

Cash invested: $63,000 (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 48186

• Rents YoY: 3.3%
• Active inventory: 146
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $2,427 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$264 /mo · $3,172/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $379

Break-even live

Break-even rent $1,947

Max offer price $225,000

Occupancy floor 79%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,428
Total (2 units)			$2,427

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33240 Parkwood St Westland, MI	3.0	1.0	1481	$1,750	$1.18	15d	1	1.03mi
2310 Deerfield Ct Westland, MI	3.0	1.5	1100	$1,125	$1.02	43d	1	1.24mi
2264 Delton Ct Westland, MI	3.0	1.5	1076	$1,300	$1.21	15d	1	1.24mi
30520 Hiveley St Westland, MI	3.0	1.0	1105	$1,700	$1.54	22d	1	1.27mi
2040 Dryden St Westland, MI	3.0	1.0	1100	$1,150	$1.05	18d	1	1.28mi
31217 Cherry Hill Rd Westland, MI	3.0	1.0	1100	$1,800	$1.64	4d	1	1.37mi

Listing history 40 events

1. 2026-06-01
   days on market $225,000 Active 35 DOM
2. 2026-05-31
   days on market $225,000 Active 34 DOM
3. 2026-04-27
   listed $225,000 Active 49-char remark
4. 2026-04-27
   listed $225,000 Active 49-char remark
5. 2025-07-02
   status Pending

   Show marketing remark (32 chars)

   Sold off market, input for comps

6. 2025-05-09
   soldstatus $147,000
7. 2025-04-03
   soldstatus $147,000 Closed

   Show marketing remark (32 chars)

   Sold off market, input for comps

8. 2025-04-03
   soldstatus $147,000 Closed

   Show marketing remark (32 chars)

   Sold off market, input for comps

9. 2025-01-29
   listed $145,000 Active

   Show marketing remark (32 chars)

   Sold off market, input for comps

10. 2025-01-29
    listed $145,000 Active

    Show marketing remark (32 chars)

    Sold off market, input for comps

11. 2024-09-30
    historical $950
12. 2024-09-26
    listed $950
13. 2024-09-11
    historical $950
14. 2024-08-14
    price $950
15. 2024-05-11
    price $1,000
16. 2024-05-07
    listed $1,100
17. 2022-01-28
    soldstatus $95,000
18. 2022-01-21
    soldstatus $95,000 Sold
19. 2022-01-21
    soldstatus $95,000 Closed
20. 2021-12-31
    status Pending
21. 2021-12-17
    historical
22. 2021-12-16
    status Pending
23. 2021-12-09
    price $115,000
24. 2021-12-08
    price $115,000
25. 2021-11-10
    listed $124,900 Active
26. 2021-11-10
    listed $124,900 Active
27. 2021-11-10
    historical $124,900
28. 2021-11-09
    historical $124,900
29. 2017-06-21
    soldstatus $46,000
30. 2017-06-07
    soldstatus $46,000 Sold
31. 2017-06-07
    soldstatus $46,000 Closed
32. 2017-04-12
    status Pending
33. 2017-04-12
    status Pending
34. 2017-03-28
    status Active
35. 2017-03-28
    status Active
36. 2017-03-15
    status Pending
37. 2017-03-15
    status Pending
38. 2017-03-09
    listed $46,900 Active
39. 2017-03-09
    listed $46,900 Active
40. 2003-12-24
    soldstatus $86,500

ⓘ 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: $3,172 · $264/mo
• Projected year-2 tax: $3,319 · $277/mo
• Expected delta: +$146/yr (+$12/mo · 4.6%)

ⓘ 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 · 14 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: $29,124
• − Mortgage interest: −$12,603
• − Property taxes: −$3,172
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,330
• − Management: −$2,330
• − Depreciation: −$6,545
• Taxable income: $1,018
• Est. tax owed @ 24.0%: −$244
• After-tax cash flow: $4,307/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 — Westland

• Score: 77/100
• State rank: #124
• US rank: #3067

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westland, MI
• County: Wayne County · 1,562,939 people
• City population: 83,633
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 35,103
• Household income: $65,187
• Rent vs Own: 31.3% rent · 68.7% own
• Severe rent burden: 980.0

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 0.57)
• Race & ethnicity: White 61% Black 23% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 8% Italian 3% Lithuanian 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 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: ▼ -262.09%
• Current HPI: 237.6325
• Rent YoY: ▲ 3.28%
• 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

-98.7% since first listed

42 events — show timeline

• 2026-06-02 Rental Removed $1,100 REALCOMP
• 2026-06-01 Listing Removed — MiRealSource-MiMLS
• 2026-06-01 Listing Removed — REALCOMP
• 2026-05-28 Listed for Rent $1,100 REALCOMP
• 2026-04-27 Listed $225,000 REALCOMP
• 2026-04-27 Listed $225,000 MiRealSource-MiMLS
• 2025-07-02 Pending — REALCOMP
• 2025-05-09 Sold (Public Records) $147,000 Public Records
• 2025-04-03 Sold (MLS) $147,000 MiRealSource-MiMLS
• 2025-04-03 Sold (MLS) $147,000 REALCOMP
• 2025-01-29 Listed $145,000 MiRealSource-MiMLS
• 2025-01-29 Listed $145,000 REALCOMP
• 2024-09-30 Rental Removed $950 REALSOURCE
• 2024-09-26 Listed for Rent $950 REALSOURCE
• 2024-09-11 Rental Removed $950 REALSOURCE
• 2024-08-14 Price Changed $950 REALSOURCE
• 2024-05-11 Price Changed $1,000 REALSOURCE
• 2024-05-07 Listed for Rent $1,100 REALSOURCE
• 2022-01-28 Sold (Public Records) $95,000 Public Records
• 2022-01-21 Sold (MLS) $95,000 MiRealSource-MiMLS
• 2022-01-21 Sold (MLS) $95,000 REALCOMP
• 2021-12-31 Pending — MiRealSource-MiMLS
• 2021-12-17 Listing Removed — MiRealSource-MiMLS
• 2021-12-16 Pending — REALCOMP
• 2021-12-09 Price Changed $115,000 MiRealSource-MiMLS
• 2021-12-08 Price Changed $115,000 REALCOMP
• 2021-11-10 Listed $124,900 MiRealSource-MiMLS
• 2021-11-10 Listed $124,900 REALCOMP
• 2021-11-10 Coming Soon $124,900 MiRealSource-MiMLS
• 2021-11-09 Coming Soon $124,900 REALCOMP
• 2017-06-21 Sold (Public Records) $46,000 Public Records
• 2017-06-07 Sold (MLS) $46,000 MiRealSource-MiMLS
• 2017-06-07 Sold (MLS) $46,000 REALCOMP
• 2017-04-12 Pending — MiRealSource-MiMLS
• 2017-04-12 Pending — REALCOMP
• 2017-03-28 Relisted — MiRealSource-MiMLS
• 2017-03-28 Relisted — REALCOMP
• 2017-03-15 Pending — MiRealSource-MiMLS
• 2017-03-15 Pending — REALCOMP
• 2017-03-09 Listed $46,900 MiRealSource-MiMLS
• 2017-03-09 Listed $46,900 REALCOMP
• 2003-12-24 Sold (Public Records) $86,500 Public Records

Property tax history

+10.8%/yr

Latest (2025): $3,172 · +6.1% YoY. Source: county tax records.