5894 Heyer St · Romulus, MI 48174

$150,000

3 bd · 1.5 ba · 1,324 sqft · SingleFamily public records · 4 Days on market

Built 1973 10,019 sqft lot $113/sqft · 13% below area Est $173k · 13% under

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Why this score? — see what drove the C 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 +21.7/30.0
• ARV discount +13.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.3/10.0
• Livability +3.0/5.0
• 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

Welcome to 5894 Heyer Street in the heart of Romulus! This adorable brick ranch offers 3 bedrooms and 2 full baths with a functional, traditional, and easy-flow layout. It was built in 1973 and features approximately 1,324 square feet of above ground living space. This home sits on a spacious lot, providing plenty of room to enjoy both indoor and outdoor living. Step inside to find comfortable living spaces filled with natural light, ideal for everyday living and entertaining. The single-story design offers convenience, while the detached garage and generous yard add to the home's appeal. Located in an area known for its suburban feel and easy access to major freeways, shopping, airports, and everyday amenities, this home offers both comfort and convenience. A great opportunity for buyers looking for a well-maintained ranch with solid space, charm, and potential to make it their own. Don't miss the chance to make this gem yours!

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 1973

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick construction
• Construction: Brick exterior
• Exterior features: Paved road access; Lot approximately 0.23 acres (80 x 128); No pool

Interior

• Bedrooms: 3 total rooms (includes bedrooms and living areas)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.1% vs local median 3.8% 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+, crime F, amenities F.
• 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.
• Zoned schools: Rooseveltmcgrath Elem School (math 2% / reading 17%, grade F, #1,277 of 1,397 statewide, top 93%, 423 students, 77% FRL); Wayne Memorial High School (math 12% / reading 37%, grade F, #481 of 713 statewide, top 81%, 1,361 students, 63% FRL).
• Market conditions: 218 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $4k 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 4 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 $150,000

Questions for the listing agent

1. Built in 1973 — 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. 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: 1.03% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.56%
• DSCR: 1.29
• GRM: 8.1

CMA / ARV

• ARV (median comp): $173,110
• List price: $150,000
• Delta: -13.35%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5894 Heyer St	0.00mi	3/2.0	1,324 (0%)	0mo	$175,000	$132	98
4419 Grace Ave	0.74mi	3/2.0	1,350 (+2%)	6mo	$215,000	$159	56
38136 Van Born Rd	0.32mi	4/2.0 (+1)	1,521 (+15%)	8mo	$225,000	$148	47

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-9,696
• Equity at exit: $22,365

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $10,360
• Equity at exit: $12,969

Cash invested: $42,000 (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: 218
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,547 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$143 /mo · $1,719/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $229

Break-even live

Break-even rent $1,256

Max offer price $150,000

Occupancy floor 80%

Sensitivity live

Price	-10% $314	-5% $272	+0% $229	+5% $187	+10% $145
Rent	-10% $107	-5% $168	+0% $229	+5% $291	+10% $352
Rate	-1.0pp $305	-0.5pp $268	base $229	+0.5pp $191	+1.0pp $151

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7040 Shawnee Dr Romulus, MI	2.0–3.0	1.0–2.0	1136	$1,399	$1.23	0d	1	0.76mi
5228 Fletcher St Wayne, MI	3.0	1.0	900	$1,750	$1.94	0d	1	1.42mi

Listing history 5 events

1. 2026-05-12
   status Pending 942-char remark

   Show marketing remark (942 chars)

   Welcome to 5894 Heyer Street in the heart of Romulus! This adorable brick ranch offers 3 bedrooms and 2 full baths with a functional, traditional, and easy-flow layout. It was built in 1973 and features approximately 1,324 square feet of above ground living space. This home sits on a spacious lot, providing plenty of room to enjoy both indoor and outdoor living. Step inside to find comfortable living spaces filled with natural light, ideal for everyday living and entertaining. The single-story design offers convenience, while the detached garage and generous yard add to the home's appeal. Located in an area known for its suburban feel and easy access to major freeways, shopping, airports, and everyday amenities, this home offers both comfort and convenience. A great opportunity for buyers looking for a well-maintained ranch with solid space, charm, and potential to make it their own. Don't miss the chance to make this gem yours!

2. 2026-05-12
   status Pending 948-char remark

   Show marketing remark (942 chars)

   Welcome to 5894 Heyer Street in the heart of Romulus! This adorable brick ranch offers 3 bedrooms and 2 full baths with a functional, traditional, and easy-flow layout. It was built in 1973 and features approximately 1,324 square feet of above ground living space. This home sits on a spacious lot, providing plenty of room to enjoy both indoor and outdoor living. Step inside to find comfortable living spaces filled with natural light, ideal for everyday living and entertaining. The single-story design offers convenience, while the detached garage and generous yard add to the home's appeal. Located in an area known for its suburban feel and easy access to major freeways, shopping, airports, and everyday amenities, this home offers both comfort and convenience. A great opportunity for buyers looking for a well-maintained ranch with solid space, charm, and potential to make it their own. Don't miss the chance to make this gem yours!

3. 2026-05-09
   listed $150,000 Active 942-char remark

   Show marketing remark (942 chars)

   Welcome to 5894 Heyer Street in the heart of Romulus! This adorable brick ranch offers 3 bedrooms and 2 full baths with a functional, traditional, and easy-flow layout. It was built in 1973 and features approximately 1,324 square feet of above ground living space. This home sits on a spacious lot, providing plenty of room to enjoy both indoor and outdoor living. Step inside to find comfortable living spaces filled with natural light, ideal for everyday living and entertaining. The single-story design offers convenience, while the detached garage and generous yard add to the home's appeal. Located in an area known for its suburban feel and easy access to major freeways, shopping, airports, and everyday amenities, this home offers both comfort and convenience. A great opportunity for buyers looking for a well-maintained ranch with solid space, charm, and potential to make it their own. Don't miss the chance to make this gem yours!

4. 2026-05-09
   listed $150,000 Active 948-char remark

   Show marketing remark (942 chars)

   Welcome to 5894 Heyer Street in the heart of Romulus! This adorable brick ranch offers 3 bedrooms and 2 full baths with a functional, traditional, and easy-flow layout. It was built in 1973 and features approximately 1,324 square feet of above ground living space. This home sits on a spacious lot, providing plenty of room to enjoy both indoor and outdoor living. Step inside to find comfortable living spaces filled with natural light, ideal for everyday living and entertaining. The single-story design offers convenience, while the detached garage and generous yard add to the home's appeal. Located in an area known for its suburban feel and easy access to major freeways, shopping, airports, and everyday amenities, this home offers both comfort and convenience. A great opportunity for buyers looking for a well-maintained ranch with solid space, charm, and potential to make it their own. Don't miss the chance to make this gem yours!

5. 2026-05-06
   historical $150,000 942-char remark

   Show marketing remark (942 chars)

   Welcome to 5894 Heyer Street in the heart of Romulus! This adorable brick ranch offers 3 bedrooms and 2 full baths with a functional, traditional, and easy-flow layout. It was built in 1973 and features approximately 1,324 square feet of above ground living space. This home sits on a spacious lot, providing plenty of room to enjoy both indoor and outdoor living. Step inside to find comfortable living spaces filled with natural light, ideal for everyday living and entertaining. The single-story design offers convenience, while the detached garage and generous yard add to the home's appeal. Located in an area known for its suburban feel and easy access to major freeways, shopping, airports, and everyday amenities, this home offers both comfort and convenience. A great opportunity for buyers looking for a well-maintained ranch with solid space, charm, and potential to make it their own. Don't miss the chance to make this gem yours!

ⓘ 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: $1,719 · $143/mo
• Projected year-2 tax: $2,015 · $168/mo
• Expected delta: +$295/yr (+$25/mo · 17.2%)

ⓘ 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 ≥97°F today · 14 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: $18,560
• − Mortgage interest: −$8,402
• − Property taxes: −$1,719
• − Insurance: −$750
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − Depreciation: −$4,364
• Taxable income: $355
• Est. tax owed @ 24.0%: −$85
• After-tax cash flow: $2,668/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 — 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

+16.7% since first listed

7 events — show timeline

• 2026-06-09 Sold (MLS) $175,000 MiRealSource-MiMLS
• 2026-06-09 Sold (MLS) $175,000 REALCOMP
• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — REALCOMP
• 2026-05-09 Listed $150,000 MiRealSource-MiMLS
• 2026-05-09 Listed $150,000 REALCOMP
• 2026-05-06 Coming Soon $150,000 MiRealSource-MiMLS

Property tax history

+0.9%/yr

Latest (2025): $1,719 · +2.5% YoY. Source: county tax records.