14242 Park St · Livonia, MI 48154

$320,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 4 Days on market

Built 1962 9,583 sqft lot

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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 +7.5/15.0
• Cash flow +6.7/30.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming 3-bedroom, 1 full bath ranch located in one of Livonia’s most desirable neighborhoods! This well-maintained home features a bright and inviting layout, spacious living areas, and an enclosed patio perfect for relaxing or entertaining year-round. Enjoy the huge fenced backyard with plenty of space for pets, play, gardening, or summer gatherings. Recent updates include a new roof in 2025, adding peace of mind for the next owner. Conveniently located near parks, schools, shopping, dining, and expressways. A fantastic opportunity to own a move-in ready home in a highly sought-after location!

Key facts

• Recent updates
• Conveniently located
• Enclosed patio

Tags

• ENCLOSED PATIO
• HUGE FENCED BACKYARD
• RECENT UPDATES
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Attached garage with 1 parking space
• Utilities: Public water; Public sewer (assumed); Electric service (assumed); Natural gas
• Home design: Residential single-story home; Built in 1962; Entry-level living and bedrooms; Frontage approximately 63 feet; Acreage about 0.22 acres; Subdivision: Biltmore Estates 2
• Construction: Basement foundation
• Exterior features: Brick and vinyl siding exterior; Fenced yard; Patio; Paved street frontage

Interior

• Kitchen: Dishwasher; Disposal; Range/Oven; Refrigerator
• Bedrooms: Three bedrooms on the main/entry level (approx. 11 x 11; 9 x 10; 10'); Bedroom floors are wood
• Flooring: Wood flooring in living room and bedrooms; Vinyl flooring in kitchen and dining room; Ceramic flooring in bathroom
• Bathrooms: One full bathroom on the entry level with ceramic flooring (approx. 6 x 10)
• Heating & cooling: Forced air heating (natural gas fuel); Central air conditioning; Gas water heater
• Interior features: Cable/Internet available; Partially finished basement
• Laundry & utility: Basement (partially finished)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $-506 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (28.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (38.7% below list).
• Recommended offer: $196k (38.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#116 in MI, #2,784 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D, health & safety D, commute F.
• 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: 102 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $10k 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.
• Current owner paid $148k; list at $320k implies a 115% gain — meaningful room to come down on a strong offer.

Recommended offer $196,154 (38.7% 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. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.61% ✗
• Cap rate: 4.39%
• Cash-on-cash: -6.78%
• DSCR: 0.70
• GRM: 13.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -28.1%
• Equity multiple: 0.06×
• Total profit: $-84,176
• Equity at exit: $47,713

10-year hold

• IRR: -27.1%
• Equity multiple: -0.28×
• Total profit: $-115,102
• Equity at exit: $27,668

Cash invested: $89,600 (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 48154

• Active inventory: 102
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $1,962 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$245 /mo · $2,936/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-506

Break-even live

Break-even rent $2,603

Max offer price $230,532

Occupancy floor —

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $320,000 Active 4 DOM
2. 2026-06-17
   days on market $320,000 Active 3 DOM
3. 2026-06-16
   days on market $320,000 Active 2 DOM
4. 2026-06-15
   listing id $320,000 Active 1 DOM
5. 2026-06-13
   status $320,000 Active 1 DOM
6. 2026-06-10
   remarks 624-char remark
7. 2026-06-10
   listed $320,000 Coming Soon 1 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: $2,936 · $245/mo
• Projected year-2 tax: $3,932 · $328/mo
• Expected delta: +$996/yr (+$83/mo · 33.9%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,538
• − Mortgage interest: −$17,925
• − Property taxes: −$2,936
• − Insurance: −$1,600
• − Repairs & maintenance: −$1,883
• − Management: −$1,883
• − Depreciation: −$9,309
• Taxable loss: −$11,997
• Est. tax savings @ 24.0%: +$2,879
• After-tax cash flow: $-3,198/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 — Livonia

• Score: 77/100
• State rank: #116
• US rank: #2784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Livonia, MI
• City population: 56,806
• Population (ZIP): 36,915

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 4% Black 4% Asian 2%
• Common ancestry: Romanian 13% Lithuanian 4% Italian 3%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Other Indo-European 3% 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: ▼ -263.93%
• Current HPI: 192.3426
• Rent YoY: —
• Metro: —
• 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

+113.5% since first listed

3 events — show timeline

• 2026-06-10 Coming Soon $320,000 MiRealSource-MiMLS
• 1999-07-12 Sold (MLS) $148,500 REALCOMP
• 1999-05-18 Listed $149,900 REALCOMP

Property tax history

+3.1%/yr

Latest (2025): $2,936 · +4.3% YoY. Source: county tax records.