8278 Mills St · Taylor, MI 48180

$185,000

3 bd · 1.5 ba · 1,069 sqft · SingleFamily public records · 9 Days on market

Built 1957 6,534 sqft lot $173/sqft · at area comps Est $185k · at est. ↓ 16% since listing

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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 +14.1/30.0
• ARV discount +7.6/15.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 8278 Mills Street in Taylor! This charming ranch-style home offers comfortable one-level living with a functional layout and great potential for homeowners or investors alike. Situated on a quiet residential street, the property features a spacious yard, generous living area, and plenty of natural light throughout. Conveniently located near shopping, dining, parks, schools, and major freeways for an easy commute. Whether you're looking for your first home, downsizing, or adding to your investment portfolio, this property is a fantastic opportunity to make your own. Schedule your showing today!

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Built 1957

Property features AI

Exterior

• Parking: Detached parking; Detached 2-car garage; Includes carport
• Utilities: Public water; Natural gas for water heater
• Home design: Ranch-style single family home; One story (ranch)
• Construction: Built in 1957; Brick construction; Shingle roof
• Exterior features: Lot about 0.15 acre; Public water

Interior

• Kitchen: Main-level kitchen (approx. 15.9 by 10.8); Basement kitchen/laundry area
• Bedrooms: Primary bedroom (approx. 9.6 by 13.1); Bedroom 2 (approx. 9.5 by 13.3); Bedroom 3 (approx. 8.7 by 9.4)
• Bathrooms: One full bathroom; One half bathroom (basement)
• Heating & cooling: Forced air heating; Cooling present
• Interior features: Total of 10 rooms; Basement: Michigan-style basement; Basement includes a kitchen/laundry area and a half bath; Recreation room in basement
• Laundry & utility: Basement laundry area; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $29 ($343/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 $160k (13.7% below list).
• Recommended offer: $160k (13.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#144 in MI, #3,684 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Taylor School District (urban): math 14% / reading 27% proficiency, ranked #462 of 540 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 281 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 31% of the median local income ($61k/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 $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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $155k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,668 (13.7% below list)

Questions for the listing agent

1. Built in 1957 — 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: 0.86% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 9.7

CMA / ARV

• ARV (median comp): $185,493
• List price: $185,000
• Delta: -0.27%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8278 Mills St	0.00mi	3/1.5	1,069 (0%)	1mo	$155,000	$145	99
8350 Gulley St	0.09mi	3/1.0	1,050 (-2%)	1mo	$200,000	$190	90
24608 Mary St	0.50mi	3/2.0	1,054 (-1%)	2mo	$146,200	$139	71
25652 Chernick St	0.19mi	4/1.5 (+1)	1,178 (+10%)	8mo	$180,000	$153	63
25315 Charles St	0.40mi	3/1.0	960 (-10%)	4mo	$160,000	$167	59
7205 Cherokee St	0.54mi	3/1.5	960 (-10%)	1mo	$170,000	$177	57
25255 Charles St	0.40mi	3/1.0	1,200 (+12%)	2mo	$188,000	$157	57
24415 Ward St	0.59mi	2/2.0 (-1)	1,022 (-4%)	9mo	$190,000	$186	51
8883 Beech Daly Rd	0.33mi	2/1.0 (-1)	920 (-14%)	5mo	$120,000	$130	50
24329 Wick Rd	0.72mi	3/1.5	981 (-8%)	7mo	$164,900	$168	47
6942 Janet St	0.69mi	3/1.0	936 (-12%)	4mo	$118,000	$126	42
6941 Fellrath St	0.75mi	3/1.5	924 (-14%)	4mo	$195,000	$211	39

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 · 4.9% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.52×
• Total profit: $-25,050
• Equity at exit: $27,584

10-year hold

• IRR: -1.6%
• Equity multiple: 0.88×
• Total profit: $-6,215
• Equity at exit: $15,995

Cash invested: $51,800 (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 48180

• Rents YoY: 4.9%
• Active inventory: 281
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,597 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$186 /mo · $2,226/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $29

Break-even live

Break-even rent $1,560

Max offer price $185,000

Occupancy floor 93%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24268 Haskell St Taylor, MI	1.0–2.0	1.0	880	$1,565	$1.78	2d	8	0.57mi
7873 Syracuse St Taylor, MI	2.0	1.0	728	$1,400	$1.92	44d	1	0.97mi
9620 Elm St Taylor, MI	2.0	1.0	800	$1,470	$1.84	2d	3	1.31mi

Listing history 5 events

1. 2026-05-11
   listed $185,000 Active 611-char remark

   Show marketing remark (611 chars)

   Welcome to 8278 Mills Street in Taylor! This charming ranch-style home offers comfortable one-level living with a functional layout and great potential for homeowners or investors alike. Situated on a quiet residential street, the property features a spacious yard, generous living area, and plenty of natural light throughout. Conveniently located near shopping, dining, parks, schools, and major freeways for an easy commute. Whether you're looking for your first home, downsizing, or adding to your investment portfolio, this property is a fantastic opportunity to make your own. Schedule your showing today!

2. 2026-05-11
   listed $185,000 Active 611-char remark

   Show marketing remark (611 chars)

   Welcome to 8278 Mills Street in Taylor! This charming ranch-style home offers comfortable one-level living with a functional layout and great potential for homeowners or investors alike. Situated on a quiet residential street, the property features a spacious yard, generous living area, and plenty of natural light throughout. Conveniently located near shopping, dining, parks, schools, and major freeways for an easy commute. Whether you're looking for your first home, downsizing, or adding to your investment portfolio, this property is a fantastic opportunity to make your own. Schedule your showing today!

3. 2026-05-11
   listed $185,000 Active

   Show marketing remark (611 chars)

   Welcome to 8278 Mills Street in Taylor! This charming ranch-style home offers comfortable one-level living with a functional layout and great potential for homeowners or investors alike. Situated on a quiet residential street, the property features a spacious yard, generous living area, and plenty of natural light throughout. Conveniently located near shopping, dining, parks, schools, and major freeways for an easy commute. Whether you're looking for your first home, downsizing, or adding to your investment portfolio, this property is a fantastic opportunity to make your own. Schedule your showing today!

4. 2026-05-10
   historical $185,000 611-char remark

   Show marketing remark (611 chars)

   Welcome to 8278 Mills Street in Taylor! This charming ranch-style home offers comfortable one-level living with a functional layout and great potential for homeowners or investors alike. Situated on a quiet residential street, the property features a spacious yard, generous living area, and plenty of natural light throughout. Conveniently located near shopping, dining, parks, schools, and major freeways for an easy commute. Whether you're looking for your first home, downsizing, or adding to your investment portfolio, this property is a fantastic opportunity to make your own. Schedule your showing today!

5. 2026-05-10
   historical $185,000

   Show marketing remark (611 chars)

   Welcome to 8278 Mills Street in Taylor! This charming ranch-style home offers comfortable one-level living with a functional layout and great potential for homeowners or investors alike. Situated on a quiet residential street, the property features a spacious yard, generous living area, and plenty of natural light throughout. Conveniently located near shopping, dining, parks, schools, and major freeways for an easy commute. Whether you're looking for your first home, downsizing, or adding to your investment portfolio, this property is a fantastic opportunity to make your own. Schedule your showing today!

ⓘ 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: $2,226 · $186/mo
• Projected year-2 tax: $2,538 · $211/mo
• Expected delta: +$311/yr (+$26/mo · 14.0%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,160
• − Mortgage interest: −$10,363
• − Property taxes: −$2,226
• − Insurance: −$925
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$5,382
• Taxable loss: −$2,801
• Est. tax savings @ 24.0%: +$672
• After-tax cash flow: $1,016/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: Taylor School District
• NCES district ID: 2633540
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 27% ▼ -4.00%
• Median HH income: $43,062
• Composite: 17.62/100
• National rank: #9034
• State rank: #462 of 540 in MI

Livability — Taylor

• Score: 76/100
• State rank: #144
• US rank: #3684

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Taylor, MI
• County: Wayne County · 1,562,939 people
• City population: 62,081
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 62,081
• Household income: $61,081
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1957.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 19% Two or more races 9% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 8% Lithuanian 3% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 4% Arabic 3% Other Indo-European 3%

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: ▼ -212.33%
• Current HPI: 228.921
• Rent YoY: ▲ 4.90%
• 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

-16.2% since first listed

11 events — show timeline

• 2026-06-01 Sold (MLS) $155,000 REALCOMP
• 2026-06-01 Sold (MLS) $155,000 MiRealSource-MiMLS
• 2026-06-01 Sold (MLS) $155,000 SW Michigan MLS
• 2026-05-20 Pending — REALCOMP
• 2026-05-20 Pending — MiRealSource-MiMLS
• 2026-05-20 Pending — SW Michigan MLS
• 2026-05-11 Listed $185,000 REALCOMP
• 2026-05-11 Listed $185,000 MiRealSource-MiMLS
• 2026-05-11 Listed $185,000 SW Michigan MLS
• 2026-05-10 Coming Soon $185,000 MiRealSource-MiMLS
• 2026-05-10 Coming Soon $185,000 SW Michigan MLS

Property tax history

+1.8%/yr

Latest (2025): $2,226 · +3.1% YoY. Source: county tax records.