7602 Woodview St #1 · Westland, MI 48185

$120,000

2 bd · 1.0 ba · 972 sqft · Condo public records · 59 Days on market

Built 1970 $370/mo HOA · 27% of rent

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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 +10.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready and beautifully updated, this inviting apartment features modern finishes throughout. Enjoy durable laminate flooring, a spacious living room, and an open, functional kitchen complete with new cabinets, countertops, and stainless steel appliances. The remodeled bathrooms and new insulated windows add both comfort and efficiency. Conveniently located near shopping centers, restaurants, and grocery stores, and within the Livonia school district.

Key facts

• $370 HOA
• Community pool
• Built 1970

Property features AI

Finance

• HOA & community: Monthly association fee; Association amenities include pool and tennis courts; Association fee covers water, trash, snow removal, and lawn/yard care

Exterior

• Utilities: Public water
• Home design: Residential condominium; Other architectural style
• Construction: Built in 1970; Brick and wood siding construction
• Exterior features: Corner lot; Pond on property; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator; Kitchen (10 x 11)
• Bedrooms: Primary bedroom (12 x 18); Second bedroom (10 x 15)
• Bathrooms: Two full bathrooms; Primary bathroom (6 x 10); Second bathroom (6 x 7)
• Heating & cooling: Baseboard heating; Wall-mounted cooling unit(s)
• Interior features: Five total rooms; Basement is slab

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $-62 ($-744/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (9.1% below list).
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $109k (9.1% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 4.5% in Westland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 77/100 on livability (#124 in MI, #3,067 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, employment C-, crime D+.
• Livonia Public Schools School District (urban): math 46% / reading 59% proficiency, ranked #77 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 161 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 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 $830 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

• It's been on market 59 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 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 $24k; list at $120k implies a 398% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $109,051 (9.1% 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. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.14% ✓
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.17% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.20×
• Total profit: $-26,955
• Equity at exit: $17,892

10-year hold

• IRR: -37.8%
• Equity multiple: -0.26×
• Total profit: $-42,327
• Equity at exit: $10,375

Cash invested: $33,600 (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 48185

• Rents YoY: 0.2%
• Active inventory: 161
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,362 high
• Mortgage (P&I): −$629
• Tax from tax record: −$89 /mo · $1,066/yr
• Insurance: −$50
• HOA: −$370
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $-62

Break-even live

Break-even rent $1,441

Max offer price $109,051

Occupancy floor 100%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7344 Drew Cir Westland, MI	2.0	1.0	900	$1,350	$1.50	1d	7	0.14mi
7640 Woodview St #1 Westland, MI	2.0	2.0	1037	$1,385	$1.34	24d	1	0.14mi
7000 Lakeview Blvd Westland, MI	1.0–2.0	1.0	752	$1,294	$1.72	2d	61	0.46mi
7500 N Newburgh Rd Westland, MI	1.0–2.0	1.0–2.0	843	$1,868	$2.21	1d	9	0.47mi
6930 Yale St Unit 5 Westland, MI	1.0	1.0	600	$950	$1.58	16d	1	0.59mi
37410 Fountain Park Cir Westland, MI	1.0–2.0	1.0–2.0	932	$1,755	$1.88	1d	17	0.67mi
6501 Yale St Westland, MI	1.0–2.0	1.0	746	$1,129	$1.51	5d	5	0.72mi
6737 N Wayne Rd Westland, MI	1.0–2.0	1.0–1.5	850	$1,375	$1.62	4d	6	0.75mi
8181 N Wayne Rd Westland, MI	2.0	1.0	800	$1,225	$1.53	16d	1	0.77mi
8300 Woodcrest Dr Westland, MI	1.0–2.0	1.0	900	$1,285	$1.43	5d	10	0.78mi
37670 Dale Dr Westland, MI	1.0–2.0	1.0–1.5	760	$1,460	$1.92	1d	10	0.86mi
37830 Westwood Cir Westland, MI	2.0	1.0	925	$1,412	$1.53	1d	10	1.09mi
6200 N Wayne Rd Westland, MI	2.0	1.0	748	$1,200	$1.60	43d	1	1.13mi
34601 Elmwood St Westland, MI	1.0	1.0	573	$1,348	$2.35	17d	1	1.14mi
5800 N Christine Westland, MI	1.0–2.0	1.0–2.0	910	$1,340	$1.47	1d	8	1.28mi
5995 N Wildwood St Westland, MI	2.0	1.0	960	$1,084	$1.13	43d	1	1.34mi
2024 Imperial Hwy Westland, MI	3.0	1.0	1008	$1,600	$1.59	1d	1	1.43mi

HOA detail condo

• Monthly dues: $370 · $4,440/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $120,000 Active 59 DOM
2. 2026-06-17
   days on market $120,000 Active 58 DOM
3. 2026-06-16
   days on market $120,000 Active 57 DOM
4. 2026-06-15
   price $120,000 Active 56 DOM
5. 2026-06-15
   days on market $124,000 Active 56 DOM
6. 2026-06-13
   days on market $124,000 Active 54 DOM
7. 2026-06-09
   days on market $124,000 Active 50 DOM
8. 2026-06-08
   days on market $124,000 Active 49 DOM
9. 2026-06-07
   days on market $124,000 Active 48 DOM
10. 2026-06-04
    days on market $124,000 Active 45 DOM
11. 2026-06-03
    days on market $124,000 Active 44 DOM
12. 2026-06-02
    days on market $124,000 Active 43 DOM
13. 2026-06-01
    days on market $124,000 Active 42 DOM
14. 2026-05-31
    days on market $124,000 Active 41 DOM
15. 2026-04-20
    listed $125,000 Active 461-char remark

    Show marketing remark (461 chars)

    Move-in ready and beautifully updated, this inviting apartment features modern finishes throughout. Enjoy durable laminate flooring, a spacious living room, and an open, functional kitchen complete with new cabinets, countertops, and stainless steel appliances. The remodeled bathrooms and new insulated windows add both comfort and efficiency. Conveniently located near shopping centers, restaurants, and grocery stores, and within the Livonia school district.

16. 2026-04-20
    listed $125,000 Active

    Show marketing remark (461 chars)

    Move-in ready and beautifully updated, this inviting apartment features modern finishes throughout. Enjoy durable laminate flooring, a spacious living room, and an open, functional kitchen complete with new cabinets, countertops, and stainless steel appliances. The remodeled bathrooms and new insulated windows add both comfort and efficiency. Conveniently located near shopping centers, restaurants, and grocery stores, and within the Livonia school district.

17. 2026-04-20
    listed $125,000 Active 461-char remark

    Show marketing remark (461 chars)

    Move-in ready and beautifully updated, this inviting apartment features modern finishes throughout. Enjoy durable laminate flooring, a spacious living room, and an open, functional kitchen complete with new cabinets, countertops, and stainless steel appliances. The remodeled bathrooms and new insulated windows add both comfort and efficiency. Conveniently located near shopping centers, restaurants, and grocery stores, and within the Livonia school district.

18. 2026-04-18
    historical $125,000 461-char remark

    Show marketing remark (461 chars)

    Move-in ready and beautifully updated, this inviting apartment features modern finishes throughout. Enjoy durable laminate flooring, a spacious living room, and an open, functional kitchen complete with new cabinets, countertops, and stainless steel appliances. The remodeled bathrooms and new insulated windows add both comfort and efficiency. Conveniently located near shopping centers, restaurants, and grocery stores, and within the Livonia school district.

19. 2026-04-18
    historical $125,000

    Show marketing remark (461 chars)

    Move-in ready and beautifully updated, this inviting apartment features modern finishes throughout. Enjoy durable laminate flooring, a spacious living room, and an open, functional kitchen complete with new cabinets, countertops, and stainless steel appliances. The remodeled bathrooms and new insulated windows add both comfort and efficiency. Conveniently located near shopping centers, restaurants, and grocery stores, and within the Livonia school district.

20. 2016-01-28
    soldstatus $24,100

ⓘ 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: $1,066 · $89/mo
• Projected year-2 tax: $1,457 · $121/mo
• Expected delta: +$391/yr (+$33/mo · 36.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $16,347
• − Mortgage interest: −$6,722
• − Property taxes: −$1,066
• − Insurance: −$600
• − Repairs & maintenance: −$1,308
• − Management: −$1,308
• − HOA: −$4,440
• − Depreciation: −$3,491
• Taxable loss: −$2,588
• Est. tax savings @ 24.0%: +$621
• After-tax cash flow: $-123/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: Livonia Public Schools School District
• NCES district ID: 2621840
• Math proficiency: 46% ▼ -5.00%
• Reading proficiency: 59% ▬ 0.00%
• Median HH income: $65,268
• Composite: 46.27/100
• National rank: #2480
• State rank: #77 of 540 in MI

Livability — Westland

• Score: 77/100
• State rank: #124
• US rank: #3067

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westland, MI
• County: Wayne County · 1,562,939 people
• City population: 83,633
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 48,530
• Household income: $60,854
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 2263.0

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 0.56)
• Race & ethnicity: White 63% Black 22% Two or more races 7% Asian 5% Hispanic / Latino 5%
• Common ancestry: Romanian 11% Lithuanian 3% Italian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 87% English-only · Other Indo-European 5% Arabic 2% 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: ▼ -265.65%
• Current HPI: 237.7594
• Rent YoY: ▲ 0.17%
• 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

+418.7% since first listed

6 events — show timeline

• 2026-04-20 Listed $125,000 REALCOMP
• 2026-04-20 Listed $125,000 SW Michigan MLS
• 2026-04-20 Listed $125,000 MiRealSource-MiMLS
• 2026-04-18 Coming Soon $125,000 MiRealSource-MiMLS
• 2026-04-18 Coming Soon $125,000 SW Michigan MLS
• 2016-01-28 Sold (Public Records) $24,100 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,066 · -13.9% YoY. Source: county tax records.