34810 Richard St · Wayne, MI 48184

$139,900

3 bd · 1.0 ba · 1,102 sqft · SingleFamily public records · 10 Days on market

Built 1956 4,356 sqft lot Est $159k · 12% under

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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 +15.5/30.0
• ARV discount +12.8/15.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Livability +3.6/5.0
• 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

3 Bedroom bungalow with partially finished basement, fenced back yard. All appliances now on premises included, immediate occupancy. Furnace with Central Air, newer water heater, updated roof, vinyl windows and glass block in basement. Just needs your decorating ideas, great entry level price point, solid neighborhood with sidewalks and parks nearby.

Key facts

• Vinyl windows
• Fenced back yard
• Newer water heater

Tags

• PARTIALLY FINISHED BASEMENT
• FENCED BACK YARD
• CENTRAL AIR
• NEWER WATER HEATER
• UPDATED ROOF
• VINYL WINDOWS

Property features AI

Finance

• Other: Lot approximately 0.1 acre (40 x 106)
• Financial info: No investor or income/expense details provided
• HOA & community: Sidewalks in the community

Exterior

• Parking: No garage
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps
• Construction: Vinyl siding; Block foundation; Built with asphalt roofing
• Exterior features: Front porch; Backyard with fencing; Shed(s) on the property; Asphalt roof; Paved road access

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas water heater; Partially finished basement; Basement present
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $57 ($681/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 $130k (6.9% below list).
• Recommended offer: $130k (6.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#252 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment D-.
• 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.
• Market conditions: 58 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $967 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 21y ago 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: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,286 (6.9% below list)

Questions for the listing agent

1. Built in 1956 — 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: 0.93% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.74%
• DSCR: 1.08
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $158,688
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34918 Winslow St	0.12mi	3/1.0	1,058 (-4%)	1mo	$147,000	$139	87
34441 Phyllis St	0.34mi	3/1.0	1,040 (-6%)	2mo	$190,000	$183	73
34321 John St	0.20mi	3/1.0	1,222 (+11%)	1mo	$160,000	$131	72
33988 Richard St	0.34mi	3/1.0	1,022 (-7%)	4mo	$180,000	$176	69
34084 Currier St	0.32mi	3/1.0	1,014 (-8%)	4mo	$170,700	$168	69
4004 Howe Rd	0.60mi	3/2.0	1,104 (+0%)	2mo	$152,000	$138	67
4052 Howe Rd	0.58mi	3/2.0	1,104 (+0%)	3mo	$155,000	$140	66
4453 Newberry St	0.35mi	3/1.5	1,194 (+8%)	3mo	$210,000	$176	66
4190 2nd St	0.30mi	3/1.0	1,248 (+13%)	2mo	$166,000	$133	62
34472 Phyllis St	0.30mi	3/1.5	1,250 (+13%)	0mo	$197,000	$158	61
35720 Brush St	0.75mi	3/1.0	1,112 (+1%)	5mo	$105,000	$94	59
5932 Colorado St	0.47mi	3/1.0	1,242 (+13%)	4mo	$179,000	$144	53

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: -13.5%
• Equity multiple: 0.51×
• Total profit: $-19,031
• Equity at exit: $20,860

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-11,822
• Equity at exit: $12,096

Cash invested: $39,172 (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 48184

• Active inventory: 58
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,303 high
• Mortgage (P&I): −$734
• Tax from tax record: −$181 /mo · $2,167/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $57

Break-even live

Break-even rent $1,231

Max offer price $139,900

Occupancy floor 91%

Sensitivity live

Price	-10% $136	-5% $96	+0% $57	+5% $17	+10% $-22
Rent	-10% $-46	-5% $5	+0% $57	+5% $108	+10% $160
Rate	-1.0pp $127	-0.5pp $92	base $57	+0.5pp $21	+1.0pp $-16

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4332 Biddle St Wayne, MI	3.0	2.0	1176	$1,525	$1.30	44d	1	0.33mi
34510 Van Born Rd Wayne, MI	2.0	1.0	990	$1,325	$1.34	15d	1	0.35mi
4924 Howe Rd Wayne, MI	3.0	1.0	1022	$1,300	$1.27	18d	1	0.42mi
35390 Van Born Rd #103 Wayne, MI	2.0	1.0	925	$1,100	$1.19	44d	1	0.42mi
5672 Howe Rd Unit 15 Wayne, MI	2.0	1.0	700	$850	$1.21	19d	1	0.51mi
34639 Brush St Wayne, MI	2.0	1.0	780	$1,200	$1.54	44d	1	0.51mi
5228 Fletcher St Wayne, MI	3.0	1.0	900	$1,750	$1.94	0d	1	0.61mi
3741 S Wayne Rd Wayne, MI	2.0	1.5	1114	$1,500	$1.35	0d	1	0.61mi
35505 E Michigan Ave Unit 1 Wayne, MI	2.0	1.0	780	$775	$0.99	44d	1	0.66mi
34420 Sims St Unit 14 Wayne, MI	2.0	1.0	800	$900	$1.12	44d	1	0.76mi
34420 Sims St Unit 11 Wayne, MI	2.0	1.0	800	$849	$1.06	6d	1	0.76mi
35700 E Michigan Ave Wayne, MI	2.0	1.0	701	$1,060	$1.51	6d	6	0.77mi
33095 Forest St Wayne, MI	1.0–2.0	1.0	815	$1,142	$1.40	3d	5	0.90mi
34630 Glenwood Rd Westland, MI	2.0	1.0	710	$1,150	$1.62	44d	1	1.17mi
35759 Glenwood Rd Unit 35759 Wayne, MI	2.0	1.0	1360	$1,300	$0.96	44d	1	1.24mi
34039 Cambria Ct Westland, MI	2.0	1.0	836	$1,395	$1.67	44d	1	1.33mi
33000 Parkhill St Wayne, MI	1.0–2.0	1.0–1.5	800	$1,240	$1.55	25d	1	1.35mi
2310 Deerfield Ct Westland, MI	3.0	1.5	1100	$1,125	$1.02	44d	1	1.42mi
2264 Delton Ct Westland, MI	3.0	1.5	1076	$1,300	$1.21	15d	1	1.45mi
33507 Berville Ct Westland, MI	2.0	1.5	907	$1,350	$1.49	3d	1	1.48mi

Listing history 22 events

1. 2026-04-19
   status Pending 352-char remark

   Show marketing remark (352 chars)

   3 Bedroom bungalow with partially finished basement, fenced back yard. All appliances now on premises included, immediate occupancy. Furnace with Central Air, newer water heater, updated roof, vinyl windows and glass block in basement. Just needs your decorating ideas, great entry level price point, solid neighborhood with sidewalks and parks nearby.

2. 2026-04-19
   status Pending

   Show marketing remark (352 chars)

   3 Bedroom bungalow with partially finished basement, fenced back yard. All appliances now on premises included, immediate occupancy. Furnace with Central Air, newer water heater, updated roof, vinyl windows and glass block in basement. Just needs your decorating ideas, great entry level price point, solid neighborhood with sidewalks and parks nearby.

3. 2026-04-13
   historical Active Under Contract

   Show marketing remark (352 chars)

   3 Bedroom bungalow with partially finished basement, fenced back yard. All appliances now on premises included, immediate occupancy. Furnace with Central Air, newer water heater, updated roof, vinyl windows and glass block in basement. Just needs your decorating ideas, great entry level price point, solid neighborhood with sidewalks and parks nearby.

4. 2026-04-13
   historical Accepting Backup Offers 352-char remark

   Show marketing remark (352 chars)

   3 Bedroom bungalow with partially finished basement, fenced back yard. All appliances now on premises included, immediate occupancy. Furnace with Central Air, newer water heater, updated roof, vinyl windows and glass block in basement. Just needs your decorating ideas, great entry level price point, solid neighborhood with sidewalks and parks nearby.

5. 2026-04-10
   listed $139,900 Active
6. 2026-04-09
   listed $139,900 Active 352-char remark

   Show marketing remark (352 chars)

   3 Bedroom bungalow with partially finished basement, fenced back yard. All appliances now on premises included, immediate occupancy. Furnace with Central Air, newer water heater, updated roof, vinyl windows and glass block in basement. Just needs your decorating ideas, great entry level price point, solid neighborhood with sidewalks and parks nearby.

7. 2026-02-26
   soldstatus $160,000
8. 2012-11-28
   soldstatus $25,200 173-char remark

   Show marketing remark (173 chars)

   THREE BEDROOM VINYL BUNGALOW WITH COVERED FRONT PORCH. 1.5 BATHS. LIVING ROOM, EAT IN KITCHEN AND TWO BEDROOMS ON MAIN FLOOR. FULL BASEMENT WITH 1/2 BATH. HOMEPATH PROPERTY.

9. 2012-11-28
   soldstatus $25,200

   Show marketing remark (173 chars)

   THREE BEDROOM VINYL BUNGALOW WITH COVERED FRONT PORCH. 1.5 BATHS. LIVING ROOM, EAT IN KITCHEN AND TWO BEDROOMS ON MAIN FLOOR. FULL BASEMENT WITH 1/2 BATH. HOMEPATH PROPERTY.

10. 2012-11-13
    historical 173-char remark

    Show marketing remark (173 chars)

    THREE BEDROOM VINYL BUNGALOW WITH COVERED FRONT PORCH. 1.5 BATHS. LIVING ROOM, EAT IN KITCHEN AND TWO BEDROOMS ON MAIN FLOOR. FULL BASEMENT WITH 1/2 BATH. HOMEPATH PROPERTY.

11. 2012-11-13
    historical

    Show marketing remark (173 chars)

    THREE BEDROOM VINYL BUNGALOW WITH COVERED FRONT PORCH. 1.5 BATHS. LIVING ROOM, EAT IN KITCHEN AND TWO BEDROOMS ON MAIN FLOOR. FULL BASEMENT WITH 1/2 BATH. HOMEPATH PROPERTY.

12. 2012-09-11
    listed $25,000 173-char remark

    Show marketing remark (173 chars)

    THREE BEDROOM VINYL BUNGALOW WITH COVERED FRONT PORCH. 1.5 BATHS. LIVING ROOM, EAT IN KITCHEN AND TWO BEDROOMS ON MAIN FLOOR. FULL BASEMENT WITH 1/2 BATH. HOMEPATH PROPERTY.

13. 2012-09-11
    listed $25,000

    Show marketing remark (173 chars)

    THREE BEDROOM VINYL BUNGALOW WITH COVERED FRONT PORCH. 1.5 BATHS. LIVING ROOM, EAT IN KITCHEN AND TWO BEDROOMS ON MAIN FLOOR. FULL BASEMENT WITH 1/2 BATH. HOMEPATH PROPERTY.

14. 2006-05-11
    historical
15. 2006-04-12
    historical
16. 2006-04-11
    listed $126,000
17. 2006-02-07
    historical
18. 2006-02-06
    listed $119,500
19. 2005-11-30
    historical
20. 2005-11-29
    listed $124,999
21. 2005-11-14
    listed $126,900
22. 1994-07-13
    soldstatus $53,500

ⓘ 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: $2,167 · $181/mo
• Projected year-2 tax: $2,167 · $181/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°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: $15,634
• − Mortgage interest: −$7,837
• − Property taxes: −$2,167
• − Insurance: −$700
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$4,070
• Taxable loss: −$1,640
• Est. tax savings @ 24.0%: +$394
• After-tax cash flow: $1,075/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 — Wayne

• Score: 72/100
• State rank: #252
• US rank: #6284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wayne, MI
• County: Wayne County · 1,562,939 people
• City population: 17,348
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,348
• Household income: $59,171
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 720.0

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 61% Black 25% Two or more races 7% Hispanic / Latino 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 7% Lithuanian 3% Italian 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -171.12%
• Current HPI: 217.8548
• 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

+161.5% since first listed

22 events — show timeline

• 2026-04-19 Pending — MiRealSource-MiMLS
• 2026-04-19 Pending — REALCOMP
• 2026-04-13 Contingent — REALCOMP
• 2026-04-13 Contingent — MiRealSource-MiMLS
• 2026-04-10 Listed $139,900 REALCOMP
• 2026-04-09 Listed $139,900 MiRealSource-MiMLS
• 2026-02-26 Sold (Public Records) $160,000 Public Records
• 2012-11-28 Sold (MLS) $25,200 REALCOMP
• 2012-11-28 Sold (MLS) $25,200 MiRealSource-MiMLS
• 2012-11-13 Listing Removed — REALCOMP
• 2012-11-13 Listing Removed — MiRealSource-MiMLS
• 2012-09-11 Listed $25,000 REALCOMP
• 2012-09-11 Listed $25,000 MiRealSource-MiMLS
• 2006-05-11 Listing Removed — REALCOMP
• 2006-04-12 Listing Removed — REALCOMP
• 2006-04-11 Listed $126,000 REALCOMP
• 2006-02-07 Listing Removed — REALCOMP
• 2006-02-06 Listed $119,500 REALCOMP
• 2005-11-30 Listing Removed — REALCOMP
• 2005-11-29 Listed $124,999 REALCOMP
• 2005-11-14 Listed $126,900 REALCOMP
• 1994-07-13 Sold (Public Records) $53,500 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,167 · -11.4% YoY. Source: county tax records.