29156 Manchester St · Westland, MI 48185

$155,000

3 bd · 1.0 ba · 1,014 sqft · Condo public records · 10 Days on market

Built 1962 $250/mo HOA · 16% 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 +15.7/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• DSCR +4.8/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this spacious 3-bedroom, 1.5-bath townhome offering immediate occupancy and the opportunity to attend highly sought-after Livonia Public Schools. With plenty of living space across two levels plus a partially finished basement, this home is perfect for buyers looking for comfort, convenience, and value. Step inside to an open and inviting main floor where the kitchen flows seamlessly into the living area, creating an ideal space for everyday living and entertaining. A convenient half bath completes the main level. Upstairs, you'll find three generously sized bedrooms and a full bath. The partially finished basement provides additional living space perfect for a family room, game room, home office, or workout area. The laundry area is tucked away in the basement, keeping it separate from the main living spaces. Recent community improvements include a newly completed parking lot and sidewalks, adding to the appeal of this well-maintained community. Conveniently located near shopping, dining, parks, and major roadways, this move-in-ready townhome is ready for its next owner. Schedule your showing today! All data is approximate. BATVAI.

Key facts

• Convenient half bath
• Open main floor
• $250 HOA

Tags

• PARTIALLY FINISHED BASEMENT
• OPEN MAIN FLOOR
• CONVENIENT HALF BATH
• WELL MAINTAINED COMMUNITY
• NEAR SHOPPING DINING PARKS

Property features AI

Finance

• Other: Pets allowed — contact association
• HOA & community: Homeowners association with a $250 monthly fee; HOA covers gas, grounds maintenance, structure maintenance, snow removal, and trash

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Residential condominium; Two levels; Ground-level entry with steps
• Construction: Brick construction; Asphalt roof
• Exterior features: Paved road access

Interior

• Kitchen: Free-standing electric oven; Free-standing refrigerator; Microwave; Dishwasher not listed
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Partially finished basement; Gas water heater
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $69 ($827/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 6.8% vs local median 4.4% in Westland — 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 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.
• Zoned schools: Cleveland Elementary School (math 37% / reading 47%, grade F, #547 of 1,397 statewide, top 41%, 428 students, 62% FRL); Cooper Upper Elementary School (math 22% / reading 45%, grade F, #303 of 493 statewide, top 62%, 662 students, 49% FRL); Franklin High School (math 36% / reading 52%, grade F, #255 of 713 statewide, top 36%, 1,327 students, 40% FRL) — zoned schools average 50% FRL vs 22% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 40% at this address vs 52% district-wide (-13 pts) — the specific schools serving this property underperform the Livonia Public Schools School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 163 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 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 $5k 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.
• 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.

Recommended offer $155,000

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.03% ✓
• Cap rate: 6.83%
• Cash-on-cash: 1.91%
• DSCR: 1.08
• GRM: 8.1

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: -16.8%
• Equity multiple: 0.42×
• Total profit: $-25,046
• Equity at exit: $23,111

10-year hold

• IRR: -15.6%
• Equity multiple: 0.24×
• Total profit: $-32,886
• Equity at exit: $13,402

Cash invested: $43,400 (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: 163
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,595 high
• Mortgage (P&I): −$813
• Tax from tax record: −$64 /mo · $763/yr
• Insurance: −$65
• HOA: −$250
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $69

Break-even live

Break-even rent $1,508

Max offer price $155,000

Occupancy floor 91%

Sensitivity live

Price	-10% $157	-5% $113	+0% $69	+5% $25	+10% $-19
Rent	-10% $-57	-5% $6	+0% $69	+5% $132	+10% $195
Rate	-1.0pp $147	-0.5pp $108	base $69	+0.5pp $29	+1.0pp $-12

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7484 Affeldt St Westland, MI	3.0	1.0	1120	$1,500	$1.34	26d	1	0.56mi
7457 Harrison St Westland, MI	3.0	1.0	1120	$1,900	$1.70	0d	1	0.59mi
7435 Lathers St Westland, MI	3.0	1.0	1120	$1,900	$1.70	18d	1	0.64mi
7048 Deering St Garden City, MI	3.0	1.0	910	$1,500	$1.65	19d	1	0.94mi
27201 Canfield St W Dearborn Heights, MI	1.0–2.0	1.0–2.0	852	$1,499	$1.76	0d	21	0.97mi
7560 N Merriman Rd Westland, MI	1.0–2.0	1.0	805	$1,135	$1.41	26d	2	1.01mi
30500 Warren Rd Westland, MI	2.0	1.0	900	$1,128	$1.25	45d	1	1.16mi
6954 Inkster Rd Dearborn Heights, MI	1.0–2.0	1.0–1.5	837	$1,339	$1.60	0d	9	1.18mi
11141 Karen St Livonia, MI	3.0	1.0	1322	$1,950	$1.48	11d	1	1.23mi
6365 Helen St Garden City, MI	3.0	1.0	1195	$1,650	$1.38	11d	1	1.30mi
31480 Warren Rd Unit 203 Westland, MI	2.0	2.0	995	$1,650	$1.66	45d	1	1.31mi
31680 Cowan Rd Westland, MI	1.0–2.0	1.0	700	$1,300	$1.86	45d	1	1.36mi
5927 Lathers St Garden City, MI	3.0	1.0	1000	$1,600	$1.60	0d	1	1.46mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-21
   days on market $155,000 Active 10 DOM
2. 2026-06-18
   days on market $155,000 Active 7 DOM
3. 2026-06-17
   days on market $155,000 Active 6 DOM
4. 2026-06-16
   days on market $155,000 Active 5 DOM
5. 2026-06-15
   days on market $155,000 Active 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $155,000 Active 2 DOM

ⓘ 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: $763 · $64/mo
• Projected year-2 tax: $1,575 · $131/mo
• Expected delta: +$812/yr (+$68/mo · 106.4%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,138
• − Mortgage interest: −$8,682
• − Property taxes: −$763
• − Insurance: −$775
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − HOA: −$3,000
• − Depreciation: −$4,509
• Taxable loss: −$1,654
• Est. tax savings @ 24.0%: +$397
• After-tax cash flow: $1,224/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

+3.3% since first listed

7 events — show timeline

• 2026-06-12 Listed $155,000 MiRealSource-MiMLS
• 2026-06-12 Listed $155,000 REALCOMP
• 2026-06-11 Coming Soon $155,000 MiRealSource-MiMLS
• 2026-02-23 Listing Removed — REALCOMP
• 2026-02-23 Listing Removed — MiRealSource-MiMLS
• 2025-09-02 Listed $150,000 REALCOMP
• 2025-09-02 Listed $150,000 MiRealSource-MiMLS

Property tax history

+3.1%/yr

Latest (2025): $763 · +2.0% YoY. Source: county tax records.