15423 Taft St · Romulus, MI 48174

$187,500

3 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 5 Days on market

Built 1967 9,148 sqft lot Est $190k · at est.

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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 +16.3/30.0
• ARV discount +8.1/15.0
• DSCR +5.0/10.0
• 1% rule +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * MULITPLE OFFERS - DEADLINE FOR ALL OFFERS IS 8:00 PM SUNDAY APRIL 19, 2026 * * THIS HOME IS THE DEFINITION OF TURN KEY! Welcome to this well-maintained ranch in Romulus. This move-in ready home features a remodeled kitchen and bathroom (2018), along with major mechanical updates including furnace and central air replaced in 2020. The interior offers a comfortable layout with a cozy fireplace in the living area. A Generac whole-house generator provides added peace of mind. All appliances are included in the sale. Exterior features include a nice-sized yard with plenty of space for outdoor enjoyment. Conveniently located near major highways, offering easy access to Detroit (~25 minutes), Ann Arbor (~30 minutes), and surrounding Downriver communities. Close to Lower Huron Metropark with access to walking and biking trails, fishing, kayaking, and open green space. Great opportunity for buyers seeking an updated ranch in a convenient location. C of O will be provided by the seller at closing. EXCLUDED ITEMS: TVs and WALL MOUNTS, and LIGHTS ABOVE FIREPLACE MANTLE

Key facts

• 9,148 sq ft lot
• Garage
• Built 1967

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $188k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (12.4% below list).
• Recommended offer: $164k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.2% in Romulus — 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 60/100 on livability (#593 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute D+, schools F, crime F.
• Romulus Community Schools (suburban): math 9% / reading 21% proficiency, ranked #498 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 215 active listings in the ZIP; 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 $6k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 25y 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.

Recommended offer $164,252 (12.4% below list)

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.88% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.34%
• DSCR: 1.10
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $190,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15423 Taft St	0.00mi	3/1.0	1,320 (0%)	1mo	$195,000	$148	99
15427 Brandt St	0.13mi	3/2.0	1,339 (+1%)	13mo	$185,000	$138	76
15531 Taft St	0.06mi	3/1.0	1,200 (-9%)	13mo	$180,000	$150	71
15449 Collins St	0.29mi	2/1.0 (-1)	1,382 (+5%)	9mo	$175,000	$127	66
15504 Oakbrook St	0.05mi	3/2.5	1,440 (+9%)	16mo	$176,000	$122	63
15760 Oakbrook St	0.17mi	3/1.5	1,148 (-13%)	7mo	$143,000	$125	62
30255 Dorset St	0.22mi	3/1.5	1,510 (+14%)	10mo	$187,000	$124	55
15534 Anthony St	0.19mi	3/1.5	1,511 (+14%)	18mo	$203,500	$135	50
30620 Pennsylvania Rd	0.72mi	2/1.0 (-1)	1,400 (+6%)	3mo	$275,000	$196	49
16587 Jessica Ln	0.59mi	3/2.5	1,460 (+11%)	4mo	$318,000	$218	45
16417 Oakbrook St	0.48mi	3/1.5	1,460 (+11%)	17mo	$210,000	$144	44
16432 Oakbrook St	0.48mi	3/1.0	1,152 (-13%)	17mo	$209,500	$182	42

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: -12.6%
• Equity multiple: 0.54×
• Total profit: $-23,913
• Equity at exit: $27,957

10-year hold

• IRR: -3.6%
• Equity multiple: 0.76×
• Total profit: $-12,594
• Equity at exit: $16,212

Cash invested: $52,500 (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 48174

• Active inventory: 215
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,643 medium
• Mortgage (P&I): −$983
• Tax from tax record: −$134 /mo · $1,608/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $102

Break-even live

Break-even rent $1,513

Max offer price $187,500

Occupancy floor 89%

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: $46,875
• Closing costs: $5,625
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-20
   status Pending 1080-char remark

   Show marketing remark (1080 chars)

   * * MULITPLE OFFERS - DEADLINE FOR ALL OFFERS IS 8:00 PM SUNDAY APRIL 19, 2026 * * THIS HOME IS THE DEFINITION OF TURN KEY! Welcome to this well-maintained ranch in Romulus. This move-in ready home features a remodeled kitchen and bathroom (2018), along with major mechanical updates including furnace and central air replaced in 2020. The interior offers a comfortable layout with a cozy fireplace in the living area. A Generac whole-house generator provides added peace of mind. All appliances are included in the sale. Exterior features include a nice-sized yard with plenty of space for outdoor enjoyment. Conveniently located near major highways, offering easy access to Detroit (~25 minutes), Ann Arbor (~30 minutes), and surrounding Downriver communities. Close to Lower Huron Metropark with access to walking and biking trails, fishing, kayaking, and open green space. Great opportunity for buyers seeking an updated ranch in a convenient location. C of O will be provided by the seller at closing. EXCLUDED ITEMS: TVs and WALL MOUNTS, and LIGHTS ABOVE FIREPLACE MANTLE

2. 2026-04-20
   status Pending

   Show marketing remark (1080 chars)

   * * MULITPLE OFFERS - DEADLINE FOR ALL OFFERS IS 8:00 PM SUNDAY APRIL 19, 2026 * * THIS HOME IS THE DEFINITION OF TURN KEY! Welcome to this well-maintained ranch in Romulus. This move-in ready home features a remodeled kitchen and bathroom (2018), along with major mechanical updates including furnace and central air replaced in 2020. The interior offers a comfortable layout with a cozy fireplace in the living area. A Generac whole-house generator provides added peace of mind. All appliances are included in the sale. Exterior features include a nice-sized yard with plenty of space for outdoor enjoyment. Conveniently located near major highways, offering easy access to Detroit (~25 minutes), Ann Arbor (~30 minutes), and surrounding Downriver communities. Close to Lower Huron Metropark with access to walking and biking trails, fishing, kayaking, and open green space. Great opportunity for buyers seeking an updated ranch in a convenient location. C of O will be provided by the seller at closing. EXCLUDED ITEMS: TVs and WALL MOUNTS, and LIGHTS ABOVE FIREPLACE MANTLE

3. 2026-04-16
   listed $187,500 Active 1080-char remark

   Show marketing remark (1080 chars)

   * * MULITPLE OFFERS - DEADLINE FOR ALL OFFERS IS 8:00 PM SUNDAY APRIL 19, 2026 * * THIS HOME IS THE DEFINITION OF TURN KEY! Welcome to this well-maintained ranch in Romulus. This move-in ready home features a remodeled kitchen and bathroom (2018), along with major mechanical updates including furnace and central air replaced in 2020. The interior offers a comfortable layout with a cozy fireplace in the living area. A Generac whole-house generator provides added peace of mind. All appliances are included in the sale. Exterior features include a nice-sized yard with plenty of space for outdoor enjoyment. Conveniently located near major highways, offering easy access to Detroit (~25 minutes), Ann Arbor (~30 minutes), and surrounding Downriver communities. Close to Lower Huron Metropark with access to walking and biking trails, fishing, kayaking, and open green space. Great opportunity for buyers seeking an updated ranch in a convenient location. C of O will be provided by the seller at closing. EXCLUDED ITEMS: TVs and WALL MOUNTS, and LIGHTS ABOVE FIREPLACE MANTLE

4. 2026-04-16
   listed $187,500 Active

   Show marketing remark (1080 chars)

   * * MULITPLE OFFERS - DEADLINE FOR ALL OFFERS IS 8:00 PM SUNDAY APRIL 19, 2026 * * THIS HOME IS THE DEFINITION OF TURN KEY! Welcome to this well-maintained ranch in Romulus. This move-in ready home features a remodeled kitchen and bathroom (2018), along with major mechanical updates including furnace and central air replaced in 2020. The interior offers a comfortable layout with a cozy fireplace in the living area. A Generac whole-house generator provides added peace of mind. All appliances are included in the sale. Exterior features include a nice-sized yard with plenty of space for outdoor enjoyment. Conveniently located near major highways, offering easy access to Detroit (~25 minutes), Ann Arbor (~30 minutes), and surrounding Downriver communities. Close to Lower Huron Metropark with access to walking and biking trails, fishing, kayaking, and open green space. Great opportunity for buyers seeking an updated ranch in a convenient location. C of O will be provided by the seller at closing. EXCLUDED ITEMS: TVs and WALL MOUNTS, and LIGHTS ABOVE FIREPLACE MANTLE

5. 2026-04-15
   historical $187,500 1080-char remark

   Show marketing remark (1080 chars)

   * * MULITPLE OFFERS - DEADLINE FOR ALL OFFERS IS 8:00 PM SUNDAY APRIL 19, 2026 * * THIS HOME IS THE DEFINITION OF TURN KEY! Welcome to this well-maintained ranch in Romulus. This move-in ready home features a remodeled kitchen and bathroom (2018), along with major mechanical updates including furnace and central air replaced in 2020. The interior offers a comfortable layout with a cozy fireplace in the living area. A Generac whole-house generator provides added peace of mind. All appliances are included in the sale. Exterior features include a nice-sized yard with plenty of space for outdoor enjoyment. Conveniently located near major highways, offering easy access to Detroit (~25 minutes), Ann Arbor (~30 minutes), and surrounding Downriver communities. Close to Lower Huron Metropark with access to walking and biking trails, fishing, kayaking, and open green space. Great opportunity for buyers seeking an updated ranch in a convenient location. C of O will be provided by the seller at closing. EXCLUDED ITEMS: TVs and WALL MOUNTS, and LIGHTS ABOVE FIREPLACE MANTLE

6. 2001-12-01
   historical
7. 2001-05-30
   listed $116,900

ⓘ 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: $1,608 · $134/mo
• Projected year-2 tax: $2,248 · $187/mo
• Expected delta: +$640/yr (+$53/mo · 39.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,710
• − Mortgage interest: −$10,503
• − Property taxes: −$1,608
• − Insurance: −$938
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$5,455
• Taxable loss: −$1,947
• Est. tax savings @ 24.0%: +$467
• After-tax cash flow: $1,693/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: Romulus Community Schools
• NCES district ID: 2630120
• Math proficiency: 9% ▼ -14.00%
• Reading proficiency: 21% ▼ -9.00%
• Median HH income: $44,165
• Composite: 13.17/100
• National rank: #9556
• State rank: #498 of 540 in MI

Livability — Romulus

• Score: 60/100
• State rank: #593
• US rank: #19387

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Romulus, MI
• County: Wayne County · 1,562,939 people
• City population: 32,211
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 32,211
• Household income: $67,056
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 755.0

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 0.59)
• Race & ethnicity: White 52% Black 37% Two or more races 8% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 6% Lithuanian 3% Italian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 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: ▼ -171.93%
• Current HPI: 207.8345
• 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

+60.4% since first listed

7 events — show timeline

• 2026-04-20 Pending — MiRealSource-MiMLS
• 2026-04-20 Pending — REALCOMP
• 2026-04-16 Listed $187,500 MiRealSource-MiMLS
• 2026-04-16 Listed $187,500 REALCOMP
• 2026-04-15 Coming Soon $187,500 MiRealSource-MiMLS
• 2001-12-01 Listing Removed — MiRealSource-MiMLS
• 2001-05-30 Listed $116,900 MiRealSource-MiMLS

Property tax history

-1.7%/yr

Latest (2025): $1,608 · -19.5% YoY. Source: county tax records.