4815 Williams St · Wayne, MI 48184

$154,900

3 bd · 1.0 ba · 907 sqft · SingleFamily public records · 3 Days on market

Built 1963 6,098 sqft lot $171/sqft · 52% above area Est $181k · 14% 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 +13.9/15.0
• Cash flow +12.2/30.0
• DSCR +3.6/10.0
• Livability +3.6/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This ranch has a covered front porch, inside you will find the living room has a large window, an eat in kitchen with oak cabinets, a dishwasher, hook up for a gas stove. The door wall leads to the large covered patio and fenced in backyard. There are 3 bedrooms all with double closets, there are natural hardwood floors under the carpet. The bathroom has been updated; it has ceramic tile floor, newer vanity & , ceramic tile shower. The basement is a nice open space with paneling & linoleum floor, separate laundry area & storage. The washer, dryer & deep freezer stay. The 2 1/2 car garage is cinder block. Roof on the house & garage-2010, American Standard furnace, circuit breakers. The home needs a little TLC, buyer to assume city repairs. Right down the street from Soroptimist Park.

Key facts

• Covered front porch
• Fenced in backyard
• Large covered patio

Tags

• COVERED FRONT PORCH
• LARGE COVERED PATIO
• FENCED IN BACKYARD
• NATURAL HARDWOOD FLOORS
• CERAMIC TILE FLOOR
• NEWER VANITY

Property features AI

Exterior

• Parking: Detached garage; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; Two levels; Ground-level entry; Brick construction; Asphalt roof; Facing direction not specified
• Construction: Brick construction; Asphalt roof; Finished basement
• Exterior features: Covered patio and porch; Porch; Patio

Interior

• Kitchen: Dishwasher; Disposal; Free‑standing freezer; Gas water heater
• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s); Window unit(s) for cooling
• Interior features: Finished basement; Awning(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-32 ($-386/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (17.8% below list).
• Recommended offer: $127k (17.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#252 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment 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: 56 active listings in the ZIP; 18 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 3 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 $127,385 (17.8% 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 1963 — 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 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. 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 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: 0.82% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.89%
• DSCR: 0.96
• GRM: 10.1

CMA / ARV

• ARV (median comp): $180,586
• List price: $154,900
• Delta: -14.22%
• 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
5221 Woodward St	0.15mi	3/1.0	907 (0%)	7mo	$169,000	$186	87
36216 Harroun Ct	0.26mi	3/1.0	907 (0%)	6mo	$190,000	$209	82
5087 Hunt St	0.26mi	3/1.0	950 (+5%)	1mo	$175,000	$184	79
34948 Richard St	0.46mi	3/1.0	920 (+1%)	1mo	$160,000	$174	75
34940 John St	0.49mi	3/1.0	907 (0%)	10mo	$193,000	$213	69
35451 John St	0.22mi	3/1.0	1,000 (+10%)	8mo	$165,000	$165	66
34919 Glover St	0.58mi	3/1.0	907 (0%)	9mo	$145,000	$160	66
34516 John St	0.64mi	3/1.0	907 (0%)	10mo	$166,000	$183	62
35037 Harroun St	0.38mi	3/1.0	775 (-15%)	1mo	$129,900	$168	58
34836 John St	0.56mi	2/1.0 (-1)	864 (-5%)	6mo	$125,000	$145	56
37205 Bendix St	0.71mi	2/1.0 (-1)	852 (-6%)	2mo	$135,000	$158	50
4413 3rd St	0.64mi	3/1.0	1,000 (+10%)	10mo	$105,000	$105	44

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: -17.8%
• Equity multiple: 0.37×
• Total profit: $-27,152
• Equity at exit: $23,096

10-year hold

• IRR: -9.9%
• Equity multiple: 0.39×
• Total profit: $-26,286
• Equity at exit: $13,393

Cash invested: $43,372 (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 48184

• Active inventory: 56
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,274 high
• Mortgage (P&I): −$812
• Tax from tax record: −$162 /mo · $1,940/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-32

Break-even live

Break-even rent $1,315

Max offer price $149,211

Occupancy floor 98%

Sensitivity live

Price	-10% $55	-5% $12	+0% $-32	+5% $-76	+10% $-120
Rent	-10% $-133	-5% $-83	+0% $-32	+5% $18	+10% $68
Rate	-1.0pp $46	-0.5pp $7	base $-32	+0.5pp $-72	+1.0pp $-113

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4916 S Wayne Rd Unit 1 Wayne, MI	2.0	1.0	650	$975	$1.50	13d	1	0.12mi
5228 Fletcher St Wayne, MI	3.0	1.0	900	$1,750	$1.94	0d	1	0.19mi
35505 E Michigan Ave Unit 1 Wayne, MI	2.0	1.0	780	$775	$0.99	44d	1	0.47mi
35390 Van Born Rd #103 Wayne, MI	2.0	1.0	925	$1,100	$1.19	44d	1	0.50mi
35700 E Michigan Ave Wayne, MI	2.0	1.0	701	$1,060	$1.51	6d	6	0.51mi
3741 S Wayne Rd Wayne, MI	2.0	1.5	1114	$1,500	$1.35	0d	1	0.66mi
34639 Brush St Wayne, MI	2.0	1.0	780	$1,200	$1.54	44d	1	0.71mi
34510 Van Born Rd Wayne, MI	2.0	1.0	990	$1,325	$1.34	15d	1	0.76mi
4924 Howe Rd Wayne, MI	3.0	1.0	1022	$1,300	$1.27	18d	1	0.93mi
34420 Sims St Unit 11 Wayne, MI	2.0	1.0	800	$849	$1.06	6d	1	0.97mi
34420 Sims St Unit 14 Wayne, MI	2.0	1.0	800	$900	$1.12	44d	1	0.97mi
5672 Howe Rd Unit 15 Wayne, MI	2.0	1.0	700	$850	$1.21	18d	1	0.99mi
34630 Glenwood Rd Westland, MI	2.0	1.0	710	$1,150	$1.62	44d	1	1.22mi
2758 Ackley Ave Westland, MI	2.0	1.0	656	$1,175	$1.79	0d	3	1.25mi
37140 Orchard Cir Westland, MI	1.0–2.0	1.0–1.5	870	$1,299	$1.49	0d	4	1.31mi
33095 Forest St Wayne, MI	1.0–2.0	1.0	815	$1,142	$1.40	3d	5	1.36mi
34039 Cambria Ct Westland, MI	2.0	1.0	836	$1,395	$1.67	44d	1	1.46mi
36122 Booth Ave Westland, MI	2.0	1.0	840	$1,200	$1.43	17d	1	1.47mi

Listing history 4 events

1. 2026-05-18
   status Pending 822-char remark

   Show marketing remark (822 chars)

   This ranch has a covered front porch, inside you will find the living room has a large window, an eat in kitchen with oak cabinets, a dishwasher, hook up for a gas stove. The door wall leads to the large covered patio and fenced in backyard. There are 3 bedrooms all with double closets, there are natural hardwood floors under the carpet. The bathroom has been updated; it has ceramic tile floor, newer vanity & , ceramic tile shower. The basement is a nice open space with paneling & linoleum floor, separate laundry area & storage. The washer, dryer & deep freezer stay. The 2 1/2 car garage is cinder block. Roof on the house & garage-2010, American Standard furnace, circuit breakers. The home needs a little TLC, buyer to assume city repairs. Right down the street from Soroptimist Park.

2. 2026-05-18
   status Pending 823-char remark

   Show marketing remark (822 chars)

   This ranch has a covered front porch, inside you will find the living room has a large window, an eat in kitchen with oak cabinets, a dishwasher, hook up for a gas stove. The door wall leads to the large covered patio and fenced in backyard. There are 3 bedrooms all with double closets, there are natural hardwood floors under the carpet. The bathroom has been updated; it has ceramic tile floor, newer vanity & , ceramic tile shower. The basement is a nice open space with paneling & linoleum floor, separate laundry area & storage. The washer, dryer & deep freezer stay. The 2 1/2 car garage is cinder block. Roof on the house & garage-2010, American Standard furnace, circuit breakers. The home needs a little TLC, buyer to assume city repairs. Right down the street from Soroptimist Park.

3. 2026-05-14
   listed $154,900 Active 822-char remark

   Show marketing remark (822 chars)

   This ranch has a covered front porch, inside you will find the living room has a large window, an eat in kitchen with oak cabinets, a dishwasher, hook up for a gas stove. The door wall leads to the large covered patio and fenced in backyard. There are 3 bedrooms all with double closets, there are natural hardwood floors under the carpet. The bathroom has been updated; it has ceramic tile floor, newer vanity & , ceramic tile shower. The basement is a nice open space with paneling & linoleum floor, separate laundry area & storage. The washer, dryer & deep freezer stay. The 2 1/2 car garage is cinder block. Roof on the house & garage-2010, American Standard furnace, circuit breakers. The home needs a little TLC, buyer to assume city repairs. Right down the street from Soroptimist Park.

4. 2026-05-14
   listed $154,900 Active 823-char remark

   Show marketing remark (822 chars)

   This ranch has a covered front porch, inside you will find the living room has a large window, an eat in kitchen with oak cabinets, a dishwasher, hook up for a gas stove. The door wall leads to the large covered patio and fenced in backyard. There are 3 bedrooms all with double closets, there are natural hardwood floors under the carpet. The bathroom has been updated; it has ceramic tile floor, newer vanity & , ceramic tile shower. The basement is a nice open space with paneling & linoleum floor, separate laundry area & storage. The washer, dryer & deep freezer stay. The 2 1/2 car garage is cinder block. Roof on the house & garage-2010, American Standard furnace, circuit breakers. The home needs a little TLC, buyer to assume city repairs. Right down the street from Soroptimist Park.

ⓘ 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: $1,940 · $162/mo
• Projected year-2 tax: $2,163 · $180/mo
• Expected delta: +$223/yr (+$19/mo · 11.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 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: $15,286
• − Mortgage interest: −$8,677
• − Property taxes: −$1,940
• − Insurance: −$774
• − Repairs & maintenance: −$1,223
• − Management: −$1,223
• − Depreciation: −$4,506
• Taxable loss: −$3,057
• Est. tax savings @ 24.0%: +$734
• After-tax cash flow: $347/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 — Wayne

• Score: 72/100
• State rank: #252
• US rank: #6284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wayne, MI
• County: Wayne County · 1,562,939 people
• City population: 17,348
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,348
• Household income: $59,171
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 720.0

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 0.56)
• Race & ethnicity: White 61% Black 25% Two or more races 7% Hispanic / Latino 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 7% Lithuanian 3% Italian 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -171.12%
• Current HPI: 217.8548
• Rent YoY: —
• 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

4 events — show timeline

• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-18 Pending — REALCOMP
• 2026-05-14 Listed $154,900 REALCOMP
• 2026-05-14 Listed $154,900 MiRealSource-MiMLS

Property tax history

+2.5%/yr

Latest (2025): $1,940 · +2.8% YoY. Source: county tax records.