26654 Kirkway Cir · Woodhaven, MI 48183

$184,900

2 bd · 1.5 ba · 1,332 sqft · Condo · 17 Days on market

Built 2005 Good condition $139/sqft · 8% below area Est $201k · 8% under

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Why this score? — see what drove the F 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 +11.0/15.0
• Cash flow +5.3/30.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Schools +3.4/10.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Kirkway village nestled in Nature and only 2 miles for I-75 and nearby Shopping! When you enter the First floor you notice the 9 ft ceilings with an open feel. Spacious Layout with 1332 sq ft of living space. The open floor plan makes an easy flow from the living room to dining room to Kitchen that has a large Pantry and lots of storage. Half bathroom on first level for convivence. Great layout for entertaining guests and Family. As you enter the second floor you see a huge bonus area, many uses for this space. Large Master bedroom with huge walk-in closet. 2nd bedroom has a roomy feel with large closet. Full bath upstairs and utility room. Great Woodhaven location located near schools, entertainment, great shopping and dining options. Great maintenance free living with comfort and convenient lifestyle for its residents.

Key facts

• Open floor plan
• Large pantry
• Bonus area

Tags

• OPEN FLOOR PLAN
• LARGE PANTRY
• BONUS AREA
• MAINTENANCE FREE LIVING

Property features AI

Exterior

• Parking: Attached garage with approximately 2.5 spaces
• Utilities: Water available; Public sewer
• Home design: Residential condominium; Two levels
• Construction: Aluminum siding; Slab foundation
• Exterior features: Paved road access

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Ground-level entry; Total of 3 rooms; Pets allowed

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $185k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-409 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (18.1% below list).
• Recommended offer: $151k (18.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 83/100 on livability (#49 in MI, #1,017 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Gibraltar School District (suburban): math 29% / reading 46% proficiency, ranked #219 of 540 in MI (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Frank E Weiss Elem School (math 27% / reading 42%, grade F, #744 of 1,397 statewide, top 57%, 303 students, 51% FRL); Shumate Middle School (math 32% / reading 47%, grade F, #215 of 493 statewide, top 45%, 795 students, 34% FRL); Oscar A Carlson High School (math 23% / reading 50%, grade F, #364 of 713 statewide, top 51%, 1,165 students, 31% FRL).
• Market conditions: 181 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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

• It's been on market 17 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $151,407 (18.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 3.64%
• Cash-on-cash: -9.47%
• DSCR: 0.58
• GRM: 10.2

CMA / ARV

• ARV (median comp): $200,617
• List price: $184,900
• Delta: -5.79%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -33.0%
• Equity multiple: -0.08×
• Total profit: $-55,767
• Equity at exit: $27,569

10-year hold

• IRR: -38.6%
• Equity multiple: -0.57×
• Total profit: $-81,169
• Equity at exit: $15,987

Cash invested: $51,772 (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 48183

• Active inventory: 181
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,514 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,774/yr
• Insurance: −$77
• HOA est. from 7 same-building comps: −$327
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-409

Break-even live

Break-even rent $2,031

Max offer price $125,762

Occupancy floor —

Sensitivity live

Price	-10% $-281	-5% $-345	+0% $-409	+5% $-473	+10% $-536
Rent	-10% $-528	-5% $-468	+0% $-409	+5% $-349	+10% $-289
Rate	-1.0pp $-316	-0.5pp $-362	base $-409	+0.5pp $-457	+1.0pp $-505

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25010 Marsh Creek Blvd Woodhaven, MI	2.0–3.0	2.0	1150	$1,918	$1.67	0d	6	0.67mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $184,900 Active 17 DOM
2. 2026-06-18
   days on market $184,900 Active 14 DOM
3. 2026-06-17
   days on market $184,900 Active 13 DOM
4. 2026-06-16
   days on market $184,900 Active 12 DOM
5. 2026-06-15
   days on market $184,900 Active 11 DOM
6. 2026-06-13
   days on market $184,900 Active 9 DOM
7. 2026-06-09
   days on market $184,900 Active 5 DOM
8. 2026-06-08
   days on market $184,900 Active 4 DOM
9. 2026-06-07
   pricedays on marketlisting id $184,900 Active 3 DOM
10. 2026-06-01
    days on market $189,000 Active 40 DOM
11. 2026-05-31
    days on market $189,000 Active 39 DOM
12. 2026-04-22
    price $189,000 983-char remark
13. 2026-04-22
    price $189,000 983-char remark
14. 2026-04-22
    listed $184,000 Active 983-char remark
15. 2026-04-22
    listed $184,000 Active 983-char remark

ⓘ 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: $18,169
• − Mortgage interest: −$10,357
• − Property taxes: −$2,774
• − Insurance: −$924
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − HOA: −$3,924
• − Depreciation: −$5,379
• Taxable loss: −$8,096
• Est. tax savings @ 24.0%: +$1,943
• After-tax cash flow: $-2,961/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 · 6 photos

Good 75/100 Cosmetic rehab

This charming townhouse in Woodhaven, MI, built in 2005, offers a good condition with minor cosmetic updates needed for the kitchen and exterior trim. The spacious layout and modern design make it an attractive property for both resale and rental.

Repairs flagged

• Minor Kitchen countertops — Worn appearance
• Minor Kitchen cabinets — Signs of wear

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Replace worn kitchen countertops — Improves functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Worn appearance	Minor	$500–3,000
Kitchen cabinets · Signs of wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Replace worn kitchen countertops — Improves functionality and aesthetics ↑

ⓘ 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: Gibraltar School District
• NCES district ID: 2615870
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $64,791
• Composite: 33.77/100
• National rank: #5367
• State rank: #219 of 540 in MI

Livability — Woodhaven

• Score: 83/100
• State rank: #49
• US rank: #1017

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woodhaven, MI
• County: Wayne County · 1,562,939 people
• City population: 41,765
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 41,765
• Household income: $83,508
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 836.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 6% Black 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 15% Lithuanian 4% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Spanish 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: ▼ -222.34%
• Current HPI: 216.3623
• 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

+0.5% since first listed

8 events — show timeline

• 2026-06-04 Listed $184,900 REALCOMP
• 2026-06-04 Listed $184,900 MiRealSource-MiMLS
• 2026-06-01 Listing Removed — REALCOMP
• 2026-06-01 Listing Removed — MiRealSource-MiMLS
• 2026-04-22 Price Changed $189,000 MiRealSource-MiMLS
• 2026-04-22 Price Changed $189,000 REALCOMP
• 2026-04-22 Listed $184,000 REALCOMP
• 2026-04-22 Listed $184,000 MiRealSource-MiMLS