15151 Merriman Rd · Livonia, MI 48154 3569

$220,000

3 bd · 1.0 ba · 1,308 sqft · SingleFamily public records · 47 Days on market

Built 1950 0.25 ac lot Est $294k · 25% 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 +23.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.7/10.0
• Appreciation +5.0/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Highest and Best deadline Sunday, April 26th at 6pm. Welcome to this beautifully updated ranch style home featuring a spacious and inviting layout. The large great room offers the perfect gathering space with plenty of natural light and room to relax or entertain. Fresh paint and new carpet throughout give the home a clean, move in ready feel, while the newer roof provides added peace of mind. Located in a prime Livonia location, this home offers convenient access to expressways, shopping, dining, and entertainment, as well as nearby universities and Detroit Metro Airport. A fantastic opportunity to enjoy comfort, updates, and an unbeatable location all in one.

Key facts

• Newer roof
• Nearby universities
• Large great room

Tags

• UPDATED RANCH STYLE HOME
• LARGE GREAT ROOM
• NEWER ROOF
• PRIME LIVONIA LOCATION
• NEARBY UNIVERSITIES
• DETROIT METRO AIRPORT

Property features AI

Finance

• Other: Paved road access; Lot approximately 0.25 acre (100 x 110); Subdivision: LIVONIA GARDENS

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry
• Construction: Vinyl siding; Asphalt roof; Slab foundation; Built as residential single-family
• Exterior features: Outdoor lighting; Patio; Front porch; Fenced yard

Interior

• Kitchen: Dishwasher; Free-standing gas oven; Free-standing refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fan(s)
• Interior features: High-speed internet; Smart thermostat; Gas fireplace in great room
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $420 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $213k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.9% in Livonia — 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 (#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: 1 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

• In year one you build about $8k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• 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 $62k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 9 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 $138k; list at $220k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $213,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 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 1950 — 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. 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: 1.07% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.18%
• DSCR: 1.36
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $294,300
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15151 Merriman Rd	0.00mi	3/1.0	1,308 (0%)	0mo	$235,000	$180	100
15600 Sunset St	0.38mi	3/1.5	1,260 (-4%)	3mo	$280,000	$222	72
31100 Rayburn St	0.39mi	3/1.5	1,292 (-1%)	11mo	$210,000	$163	69
14942 Melrose St	0.16mi	3/1.0	1,172 (-10%)	9mo	$245,000	$209	68
31049 Grennada St	0.52mi	3/1.5	1,298 (-1%)	5mo	$330,000	$254	68
14560 Arden St	0.36mi	3/1.0	1,169 (-11%)	12mo	$260,000	$222	55
15405 Oporto St	0.66mi	3/1.0	1,287 (-2%)	14mo	$289,000	$225	55
14677 Auburndale St	0.34mi	4/1.5 (+1)	1,155 (-12%)	7mo	$282,000	$244	52
15423 Bainbridge St	0.29mi	3/2.0	1,125 (-14%)	14mo	$306,200	$272	47
29760 Hoy St	0.75mi	3/1.0	1,166 (-11%)	6mo	$215,000	$184	42
32619 Oakley St	0.66mi	3/1.5	1,146 (-12%)	11mo	$260,000	$227	37
14109 Arden St	0.73mi	3/1.5	1,134 (-13%)	6mo	$291,000	$257	37

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: 15.1%
• Equity multiple: 1.86×
• Total profit: $53,228
• Equity at exit: $98,922

10-year hold

• IRR: 16.8%
• Equity multiple: 3.47×
• Total profit: $152,041
• Equity at exit: $152,450

Cash invested: $61,600 (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 48154 3569

• Active inventory: 1
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,364 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$202 /mo · $2,425/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $420

Break-even live

Break-even rent $1,832

Max offer price $220,000

Occupancy floor 77%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31015 Dorais St Livonia, MI	3.0	1.5	1229	$2,495	$2.03	16d	1	0.33mi
28940 Lancaster St Livonia, MI	1.0–2.0	1.0	800	$1,365	$1.71	24d	5	1.11mi
17034 Farmington Rd Livonia, MI	3.0	3.0	1735	$2,700	$1.56	1d	1	1.40mi

Listing history 37 events

1. 2026-06-17
   listing id $220,000 Pending 47 DOM
2. 2026-06-13
   statusdays on market $220,000 Pending 47 DOM
3. 2026-06-09
   days on market $220,000 Active Under Contract 46 DOM
4. 2026-06-08
   days on market $220,000 Active Under Contract 45 DOM
5. 2026-06-07
   days on market $220,000 Active Under Contract 44 DOM
6. 2026-06-04
   days on market $220,000 Active Under Contract 41 DOM
7. 2026-06-03
   days on market $220,000 Active Under Contract 40 DOM
8. 2026-06-02
   days on market $220,000 Active Under Contract 39 DOM
9. 2026-06-01
   days on market $220,000 Active Under Contract 38 DOM
10. 2026-05-31
    days on market $220,000 Active Under Contract 37 DOM
11. 2026-04-27
    historical Accepting Backup Offers 669-char remark

    Show marketing remark (669 chars)

    Highest and Best deadline Sunday, April 26th at 6pm. Welcome to this beautifully updated ranch style home featuring a spacious and inviting layout. The large great room offers the perfect gathering space with plenty of natural light and room to relax or entertain. Fresh paint and new carpet throughout give the home a clean, move in ready feel, while the newer roof provides added peace of mind. Located in a prime Livonia location, this home offers convenient access to expressways, shopping, dining, and entertainment, as well as nearby universities and Detroit Metro Airport. A fantastic opportunity to enjoy comfort, updates, and an unbeatable location all in one.

12. 2026-04-27
    historical Active Under Contract

    Show marketing remark (669 chars)

    Highest and Best deadline Sunday, April 26th at 6pm. Welcome to this beautifully updated ranch style home featuring a spacious and inviting layout. The large great room offers the perfect gathering space with plenty of natural light and room to relax or entertain. Fresh paint and new carpet throughout give the home a clean, move in ready feel, while the newer roof provides added peace of mind. Located in a prime Livonia location, this home offers convenient access to expressways, shopping, dining, and entertainment, as well as nearby universities and Detroit Metro Airport. A fantastic opportunity to enjoy comfort, updates, and an unbeatable location all in one.

13. 2026-04-24
    listed $220,000 Active 669-char remark

    Show marketing remark (669 chars)

    Highest and Best deadline Sunday, April 26th at 6pm. Welcome to this beautifully updated ranch style home featuring a spacious and inviting layout. The large great room offers the perfect gathering space with plenty of natural light and room to relax or entertain. Fresh paint and new carpet throughout give the home a clean, move in ready feel, while the newer roof provides added peace of mind. Located in a prime Livonia location, this home offers convenient access to expressways, shopping, dining, and entertainment, as well as nearby universities and Detroit Metro Airport. A fantastic opportunity to enjoy comfort, updates, and an unbeatable location all in one.

14. 2026-04-24
    listed $220,000 Active

    Show marketing remark (669 chars)

    Highest and Best deadline Sunday, April 26th at 6pm. Welcome to this beautifully updated ranch style home featuring a spacious and inviting layout. The large great room offers the perfect gathering space with plenty of natural light and room to relax or entertain. Fresh paint and new carpet throughout give the home a clean, move in ready feel, while the newer roof provides added peace of mind. Located in a prime Livonia location, this home offers convenient access to expressways, shopping, dining, and entertainment, as well as nearby universities and Detroit Metro Airport. A fantastic opportunity to enjoy comfort, updates, and an unbeatable location all in one.

15. 2017-10-25
    soldstatus $138,000
16. 2017-10-06
    soldstatus $138,000 Sold 402-char remark

    Show marketing remark (402 chars)

    3 BEDROOM RANCH WITH BEAUTIFUL OPEN FLOOR PLAN. RECENT UPDATES INCLUDE: KITCHEN, PAINT, CARPET AND REFINISHED HARDWOOD FLOORS. ALL NEW DOORS RECENTLY INSTALLED. GREAT ROOM FEATURES HIGH CATHEDRAL CEILINGS AND GAS FIREPLACE. ADDITIONAL PARKING DUE TO DRIVEWAY EXTENSION. EASY IN AND OUT OF THIS PROPERTY. THIS HOME IS SITUATED ON A LARGE FENCED LOT WITHIN WALKING DISTANCE TO PARKS AND RECREATION AREAS.

17. 2017-10-06
    soldstatus $138,000 Closed

    Show marketing remark (402 chars)

    3 BEDROOM RANCH WITH BEAUTIFUL OPEN FLOOR PLAN. RECENT UPDATES INCLUDE: KITCHEN, PAINT, CARPET AND REFINISHED HARDWOOD FLOORS. ALL NEW DOORS RECENTLY INSTALLED. GREAT ROOM FEATURES HIGH CATHEDRAL CEILINGS AND GAS FIREPLACE. ADDITIONAL PARKING DUE TO DRIVEWAY EXTENSION. EASY IN AND OUT OF THIS PROPERTY. THIS HOME IS SITUATED ON A LARGE FENCED LOT WITHIN WALKING DISTANCE TO PARKS AND RECREATION AREAS.

18. 2017-09-01
    status Pending

    Show marketing remark (402 chars)

    3 BEDROOM RANCH WITH BEAUTIFUL OPEN FLOOR PLAN. RECENT UPDATES INCLUDE: KITCHEN, PAINT, CARPET AND REFINISHED HARDWOOD FLOORS. ALL NEW DOORS RECENTLY INSTALLED. GREAT ROOM FEATURES HIGH CATHEDRAL CEILINGS AND GAS FIREPLACE. ADDITIONAL PARKING DUE TO DRIVEWAY EXTENSION. EASY IN AND OUT OF THIS PROPERTY. THIS HOME IS SITUATED ON A LARGE FENCED LOT WITHIN WALKING DISTANCE TO PARKS AND RECREATION AREAS.

19. 2017-09-01
    status Pending 402-char remark

    Show marketing remark (402 chars)

    3 BEDROOM RANCH WITH BEAUTIFUL OPEN FLOOR PLAN. RECENT UPDATES INCLUDE: KITCHEN, PAINT, CARPET AND REFINISHED HARDWOOD FLOORS. ALL NEW DOORS RECENTLY INSTALLED. GREAT ROOM FEATURES HIGH CATHEDRAL CEILINGS AND GAS FIREPLACE. ADDITIONAL PARKING DUE TO DRIVEWAY EXTENSION. EASY IN AND OUT OF THIS PROPERTY. THIS HOME IS SITUATED ON A LARGE FENCED LOT WITHIN WALKING DISTANCE TO PARKS AND RECREATION AREAS.

20. 2017-08-24
    listed $139,000 Active

    Show marketing remark (402 chars)

    3 BEDROOM RANCH WITH BEAUTIFUL OPEN FLOOR PLAN. RECENT UPDATES INCLUDE: KITCHEN, PAINT, CARPET AND REFINISHED HARDWOOD FLOORS. ALL NEW DOORS RECENTLY INSTALLED. GREAT ROOM FEATURES HIGH CATHEDRAL CEILINGS AND GAS FIREPLACE. ADDITIONAL PARKING DUE TO DRIVEWAY EXTENSION. EASY IN AND OUT OF THIS PROPERTY. THIS HOME IS SITUATED ON A LARGE FENCED LOT WITHIN WALKING DISTANCE TO PARKS AND RECREATION AREAS.

21. 2017-08-24
    listed $139,000 Active 402-char remark

    Show marketing remark (402 chars)

    3 BEDROOM RANCH WITH BEAUTIFUL OPEN FLOOR PLAN. RECENT UPDATES INCLUDE: KITCHEN, PAINT, CARPET AND REFINISHED HARDWOOD FLOORS. ALL NEW DOORS RECENTLY INSTALLED. GREAT ROOM FEATURES HIGH CATHEDRAL CEILINGS AND GAS FIREPLACE. ADDITIONAL PARKING DUE TO DRIVEWAY EXTENSION. EASY IN AND OUT OF THIS PROPERTY. THIS HOME IS SITUATED ON A LARGE FENCED LOT WITHIN WALKING DISTANCE TO PARKS AND RECREATION AREAS.

22. 2016-08-10
    soldstatus $129,900
23. 2016-07-29
    soldstatus $129,900 Sold
24. 2016-07-29
    soldstatus $129,900 Closed
25. 2016-06-01
    status Pending
26. 2016-06-01
    status Pending
27. 2016-05-26
    listed $139,900 Active
28. 2016-05-26
    listed $139,900 Active
29. 2008-10-17
    historical
30. 2008-07-27
    listed $149,900
31. 2008-07-27
    historical
32. 2008-04-16
    listed $149,900
33. 2006-08-14
    soldstatus $136,000
34. 2006-07-19
    soldstatus $136,000
35. 2006-02-27
    listed $139,000
36. 1995-04-21
    soldstatus $82,000
37. 1992-05-29
    soldstatus $76,000

ⓘ 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: $2,425 · $202/mo
• Projected year-2 tax: $2,907 · $242/mo
• Expected delta: +$481/yr (+$40/mo · 19.9%)

ⓘ 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,363
• − Mortgage interest: −$12,323
• − Property taxes: −$2,425
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,269
• − Management: −$2,269
• − Depreciation: −$6,400
• Taxable income: $1,576
• Est. tax owed @ 24.0%: −$378
• After-tax cash flow: $4,659/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+189.5% since first listed

27 events — show timeline

• 2026-04-27 Contingent — MiRealSource-MiMLS
• 2026-04-27 Contingent — REALCOMP
• 2026-04-24 Listed $220,000 REALCOMP
• 2026-04-24 Listed $220,000 MiRealSource-MiMLS
• 2017-10-25 Sold (Public Records) $138,000 Public Records
• 2017-10-06 Sold (MLS) $138,000 MiRealSource-MiMLS
• 2017-10-06 Sold (MLS) $138,000 REALCOMP
• 2017-09-01 Pending — MiRealSource-MiMLS
• 2017-09-01 Pending — REALCOMP
• 2017-08-24 Listed $139,000 MiRealSource-MiMLS
• 2017-08-24 Listed $139,000 REALCOMP
• 2016-08-10 Sold (Public Records) $129,900 Public Records
• 2016-07-29 Sold (MLS) $129,900 MiRealSource-MiMLS
• 2016-07-29 Sold (MLS) $129,900 REALCOMP
• 2016-06-01 Pending — MiRealSource-MiMLS
• 2016-06-01 Pending — REALCOMP
• 2016-05-26 Listed $139,900 MiRealSource-MiMLS
• 2016-05-26 Listed $139,900 REALCOMP
• 2008-10-17 Listing Removed — REALCOMP
• 2008-07-27 Listing Removed — REALCOMP
• 2008-07-27 Listed $149,900 REALCOMP
• 2008-04-16 Listed $149,900 REALCOMP
• 2006-08-14 Sold (Public Records) $136,000 Public Records
• 2006-07-19 Sold (MLS) $136,000 REALCOMP
• 2006-02-27 Listed $139,000 REALCOMP
• 1995-04-21 Sold (Public Records) $82,000 Public Records
• 1992-05-29 Sold (Public Records) $76,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $2,425 · -48.9% YoY. Source: county tax records.