181 Terri St · Dearborn Heights, MI 48127

$32,900

2 bd · 2.0 ba · 840 sqft · Manufactured · 8 Days on market

Built 2026 Fair condition

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience the perfect blend of modern style and effortless living in this beautifully maintained two-bedroom home located in the desirable 55+ Crestwood Estates community. Nestled near the back of the neighborhood, this residence offers a bright, open-concept layout filled with natural light, ideal for both relaxing evenings and stylish entertaining. The gourmet-inspired kitchen serves as the centerpiece of the home, featuring sleek finishes and generous counter space designed for both function and elegance. Enjoy the benefits of low-maintenance living in a welcoming, active adult community. Residents have access to premium amenities including a swimming pool, clubhouse, and the peaceful c

Key facts

• Premium amenities
• Open concept layout
• Built 2026

Tags

• OPEN CONCEPT LAYOUT
• GOURMET-INSPIRED KITCHEN
• PREMIUM AMENITIES
• WELL-KEPT NEIGHBORHOOD

Property features AI

Finance

• Other: Spec inventory (new construction)
• Financial info: List price $32,900

Exterior

• Home design: Single-section home; 2-bedroom, 2-bath plan
• Exterior features: Living area approximately 840

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Dishwasher; Disposal; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $33k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $896 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Cap rate 39.0% vs local median 5.5% in Dearborn Heights — 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 79/100 on livability (#82 in MI, #1,885 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D+, employment D+.
• Crestwood School District (suburban): math 32% / reading 43% proficiency, ranked #242 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 143 active listings in the ZIP; 21 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 $227 of loan paydown is wiped out by about $987 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.
• At projected returns (-3.0% appreciation + 0.4% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $32,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 4.32% ✓
• Cap rate: 38.98%
• Cash-on-cash: 116.73%
• DSCR: 6.19
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.41% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.23×
• Total profit: $48,150
• Equity at exit: $4,905

10-year hold

• IRR: —
• Equity multiple: 12.01×
• Total profit: $101,430
• Equity at exit: $2,845

Cash invested: $9,212 (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 48127

• Rents YoY: 0.4%
• Active inventory: 143
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,422 high
• Mortgage (P&I): −$173
• Tax est. 1.5%: −$41 /mo · $494/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $896

Break-even live

Break-even rent $288

Max offer price $32,900

Occupancy floor 32%

Sensitivity live

Price	-10% $919	-5% $907	+0% $896	+5% $885	+10% $873
Rent	-10% $784	-5% $840	+0% $896	+5% $952	+10% $1,008
Rate	-1.0pp $913	-0.5pp $904	base $896	+0.5pp $888	+1.0pp $879

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: $8,225
• Closing costs: $987
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
79 3rd St Unit 79 Dearborn Heights, MI	2.0	1.0	840	$1,339	$1.59	25d	1	0.08mi
181 Terri Dr Unit 181 Dearborn Heights, MI	2.0	2.0	840	$1,119	$1.33	5d	1	0.08mi
7014 Kinmore St Dearborn Heights, MI	3.0	1.0	960	$1,900	$1.98	22d	1	0.47mi
7080 Highview St Dearborn Heights, MI	3.0	2.5	1105	$2,000	$1.81	18d	1	0.60mi
6954 Inkster Rd Dearborn Heights, MI	1.0–2.0	1.0–1.5	837	$1,339	$1.60	0d	9	0.72mi
5722 Centralia St Dearborn Heights, MI	3.0	1.0	999	$1,750	$1.75	0d	1	0.81mi
7048 Deering St Garden City, MI	3.0	1.0	910	$1,500	$1.65	18d	1	0.96mi
5726 Inkster Rd Dearborn Heights, MI	1.0	1.0	630	$1,050	$1.67	44d	1	1.03mi
27201 Canfield St W Dearborn Heights, MI	1.0–2.0	1.0–2.0	852	$1,499	$1.76	2d	22	1.18mi
7215 Lathers St Westland, MI	1.0	1.0	836	$1,045	$1.25	25d	1	1.19mi
8455 Robindale Ave Dearborn Heights, MI	3.0	1.0	1100	$1,750	$1.59	5d	1	1.20mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,700	$1.57	44d	1	1.20mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,700	$1.57	18d	1	1.21mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,600	$1.48	5d	1	1.21mi
7435 Lathers St Westland, MI	3.0	1.0	1120	$1,900	$1.70	17d	1	1.21mi
5839 Helen St Garden City, MI	3.0	1.0	984	$1,500	$1.52	0d	1	1.26mi
7457 Harrison St Westland, MI	3.0	1.0	1120	$1,900	$1.70	0d	1	1.27mi
7484 Affeldt St Westland, MI	3.0	1.0	1120	$1,500	$1.34	25d	1	1.30mi
8187 Lenore St Dearborn Heights, MI	2.0	1.0	768	$1,550	$2.02	44d	1	1.34mi
5927 Lathers St Garden City, MI	3.0	1.0	1000	$1,600	$1.60	0d	1	1.34mi
23700 W Warren St Dearborn Heights, MI	1.0	1.0	900	$1,120	$1.24	44d	2	1.38mi

Listing history 7 events

1. 2026-06-18
   days on market $32,900 Active 8 DOM
2. 2026-06-17
   days on market $32,900 Active 7 DOM
3. 2026-06-16
   days on market $32,900 Active 6 DOM
4. 2026-06-15
   days on market $32,900 Active 5 DOM
5. 2026-06-13
   days on market $32,900 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $32,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,065
• − Mortgage interest: −$1,843
• − Property taxes: −$494
• − Insurance: −$164
• − Repairs & maintenance: −$1,365
• − Management: −$1,365
• − Depreciation: −$957
• Taxable income: $10,877
• Est. tax owed @ 24.0%: −$2,610
• After-tax cash flow: $8,143/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This manufactured home requires significant repairs and maintenance, including roof replacement, siding repainting, and HVAC system replacement, to improve its condition and value.

Repairs flagged

• Major roof — Signs of wear and discoloration suggest significant damage and potential water damage.
• Major siding — The siding is worn and discolored, indicating a need for repainting or replacement.
• Major flooring — The flooring is worn and in need of replacement to improve the home's appearance and functionality.
• Major interior walls — The walls show signs of wear and discoloration, indicating a need for repainting.
• Major HVAC condensers — The condensers appear old and may need replacement or repair to ensure proper functioning.
• Major landscaping — The landscaping is sparse and in need of maintenance to improve the home's curb appeal and attract potential buyers or renters.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's appearance and reduce the risk of water damage.
• Resale siding repainting — Repainting the siding will improve the home's curb appeal and make it more attractive to potential buyers.
• Resale flooring replacement — Replacing the worn flooring will improve the home's appearance and functionality, making it more attractive to potential buyers.
• Resale interior wall repainting — Repainting the interior walls will improve the home's appearance and make it more attractive to potential buyers.
• Both HVAC replacement — Replacing the old HVAC system will improve the home's comfort and energy efficiency, making it more attractive to both buyers and renters.
• Both landscaping improvement — Improving the landscaping will enhance the home's curb appeal and make it more attractive to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of wear and discoloration suggest significant damage and potential water damage.	Major	$15,000–50,000
siding · The siding is worn and discolored, indicating a need for repainting or replacement.	Major	$15,000–50,000
flooring · The flooring is worn and in need of replacement to improve the home's appearance and functionality.	Major	$15,000–50,000
interior walls · The walls show signs of wear and discoloration, indicating a need for repainting.	Major	$15,000–50,000
HVAC condensers · The condensers appear old and may need replacement or repair to ensure proper functioning.	Major	$15,000–50,000
landscaping · The landscaping is sparse and in need of maintenance to improve the home's curb appeal and attract potential buyers or renters.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale roof replacement — A new roof will significantly improve the home's appearance and reduce the risk of water damage. ↑
• Resale siding repainting — Repainting the siding will improve the home's curb appeal and make it more attractive to potential buyers. ↑
• Resale flooring replacement — Replacing the worn flooring will improve the home's appearance and functionality, making it more attractive to potential buyers. ↑
• Resale interior wall repainting — Repainting the interior walls will improve the home's appearance and make it more attractive to potential buyers. ↑
• Both HVAC replacement — Replacing the old HVAC system will improve the home's comfort and energy efficiency, making it more attractive to both buyers and renters. ↑
• Both landscaping improvement — Improving the landscaping will enhance the home's curb appeal and make it more attractive to potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Crestwood School District
• NCES district ID: 2600016
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $47,101
• Composite: 32.1/100
• National rank: #5806
• State rank: #242 of 540 in MI

Livability — Dearborn Heights

• Score: 79/100
• State rank: #82
• US rank: #1885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dearborn Heights, MI
• County: Wayne County · 1,562,939 people
• City population: 61,771
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,646
• Household income: $60,742
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 1196.0

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 (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Arab 8% Romanian 7% Lithuanian 2%
• Foreign-born: 31% · Canada
• Languages at home: 46% English-only · Arabic 45% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -319.04%
• Current HPI: 225.9407
• Rent YoY: ▲ 0.41%
• 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